What do businesses The Lip Bar, the NaturAll Club and Slutty Vegan all have in common? They were all founded by Black women entrepreneurs — and they all launched because those women were willing to take a chance on themselves.
“You have got to learn to block out the noise. … If you believe in yourself, nothing else matters,” said Pinky Cole, who created the breakout hit burger joint Slutty Vegan. “Those who take chances, make advances. … If I have $100, I will bet $100 on my self.”
In a conversation moderated by ESSENCE money and career senior editor Marquita Harris, Cole was joined by The Lip Bar’s Melissa Butler and NaturAll Club’s Muhga Eltigani during Essence Festival’s E-Suite.
Each of the three entrepreneurs said they saved between $4,000 and $40,000 to get their businesses started, but they still needed to rely on clever ways to make more money. Eltigani moved in with her parents; Butler rented out her roommate’s room on AirBnB.
“Take the risk, or you’re going to regret later on,” Butler said. “You have to carve out your lane. Figure out where there is [space] in your market, and go after it with all your might.”
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