Othello

Voyage to Atlantis

The Black Entrepreneur’s journey is like a voyage to Atlantis, a mythical island where Black Entrepreneurs are free to experience the bounty of their labor, a reward for their sacrifice and the realization of their true purpose. Atlantis provides the best of everything – expensive cars, the finest food and fashion, jewelry, yachts and private jets.

All of the residents and visitors of Atlantis are wealthy and have earned their fortunes through business ownership. There is a caste system that awards Black Entrepreneurs for their humanitarian efforts, rebuilding communities and providing resources to marginalized people around the world.

Atlantis can only be reached by sea, an arduous journey that requires meticulous planning, a reliable crew and a sturdy vessel. There are numerous obstacles along the way, many designed specifically to steer Black Entrepreneurs off course. Only those with tremendous courage and fortitude can reach Atlantis; they must also possess the proper training and business acumen and, even then, the journey can take many years to complete. Unfortunately, most Black Entrepreneurs lack the business support and resources needed to complete the journey, nor have they acquired the proper training and business acumen to stay the course.

Nevertheless, in the Spring of 2019, prior to the spread of the global pandemic, three Black Entrepreneurs set sail for Atlantis from the Port of San Francisco – Raheem, a chef who learned how to cook from his grandmother, who also shared her secret recipes, Charles, a union carpenter who started his construction business after experiencing continuous layoffs and Diane, a clothing designer, who launched an online clothing boutique with a $10,000 grant she won in a pitch contest.

The North Wind Cometh

The North Wind can be brutally cold and uncaring to Black Entrepreneurs, freezing dreams with its breath and sending chills to all hopes and desires. Without sufficient capital, Black Entrepreneurs cannot withstand fluctuations in cash flow, which can lead to severe business instability. Without sufficient capital, the North Wind will deplete Black Entrepreneurs’ hard earned savings, damage credit and compile insurmountable debt.

Raheem launched his business with his hard earned savings. However, he did not take the time to accurately estimate his start-up costs, nor did he completely understand how much it would take to operate his business on a daily basis. He had no idea of whether or not his business would be profitable, of how much it would cost to produce his meals or how to price the meals. When the North Wind hit, he was forced to lay off workers and pay some under the table to avoid taxes. The boat continued sailing while taking in water. Charles mastered his craft as a construction framer, but he had not taken the time to build banking relationships and secure a line of credit, which is sorely needed to withstand the North Wind. His cash flow was depleted by large projects that often required him to use unwise accounting practices to make payroll. When the North Wind hit, he could not make payroll and was compelled to shut down all existing projects. The boat was forced to dock.

Diane set aside capital reserves based on a detailed start-up budget for her online boutique in anticipation of unforeseen expenses. When the North Wind hit, she used her capital reserves to keep the boat sailing with relatively minor damage.

Do You See What I See? (Mirage)

A mirage is an optical illusion. When at sea, it is something that is believed to be real or true but is actually unreal or false. Entrepreneurs often believe that their products and services are high quality and in high demand; however, without the necessary customer feedback tool to evaluate their products and services, these beliefs can be delusional.

Raheem’s chicken and waffles are the best in the Bay, according to Dish Magazine; however, his mac and cheese, as well as other items on the menu, is lacking. Furthermore, he does not check his point of sale system to identify low demand items and remove them from the menu, resulting in unused and expired food supplies. Raheem believes that his restaurant is the best in the bay and he is confident that he can reach Atlantis, but he doesn’t realize that there are many leaks in his boat.

Charles is a master craftsmen and excellent project manager; however, he has not addressed his cash flow issue and continues to rely on others to make payroll. Although his cash reserves are depleted, he keeps telling himself that, with each project, he will set aside funds to replenish his capital reserves. He has told himself this for the last five years. Despite what he continues to tell himself, he does not have the resources to complete the journey to Atlantis.

Diane relies on customer feedback and the opinion of her business advisors to keep a proper perspective on her business. She incorporates customer feedback with each purchase, so she knows exactly what her customers want and expect from her business. She also checks her point of sale systems routinely and knows what her most popular items are and what items she needs to remove from her inventory. She consults with her business advisors to decide when to launch new products or expand into new markets. With solid customer feedback and strong business advisors, Diane keeps a clear and up-to-date picture of the profitability of her business. She has a good chance of reaching Atlantis.

Superior Navigation (Business Planning)

When out at sea, it’s often difficult to get your bearings; at times the water and sky appear to be as one, melding time, space and direction. A good navigation system is needed by the most skilled sea goers just as a good business plan is needed by Black Entrepreneurs to help navigate through difficult times and stay the course.

Raheem did not accurately anticipate all the costs involved for opening his new restaurant. He ran out of capital on tenant improvements and ended up being several months behind on his rent before the landlord foreclosed on the lease. Without a business plan, he was unable to open the new restaurant and, drowning in debt, he was forced to abandon his journey to Atlantis.

Charles had no plan to address the delays on existing projects that prevented him from securing new opportunities. Once his projects were finally completed, he had no new work for his crew, who eventually left to work for other business owners. Without a crew to work, Charles soon became a Captain without a crew. Without a crew, Charles docked at the nearest port and returned home, unable to complete the journey to Atlantis.

Diane completed her business plan before launching her business. She constantly referred to the plan along the journey, anticipating unforeseen expenses, acting on new opportunities, identifying and securing resources to complete the journey. Through her ongoing business training and developed business acumen, Diane was able to endure the North Wind, recognize the mirages and navigate her way to Atlantis.

The End

In the end, neither Raheem or Charles could make the voyage to Atlantis. Neither was equipped for the long journey, which required outstanding navigational skills, access to resources and an experienced and motivated crew.

Raheem’s boat suffered irreparable damage by the North Wind. Due to the lack of navigational skills, he could not navigate to a port to find shelter from the North Wind, nor did he have the resources to make the much needed repairs to the vessel that was severely damaged by the North Wind. In the end, his boat sank just barely a quarter of the way along the journey. He was able to make a final call to the Coast Guard, who rescued him and his crew, who were stranded for several days. It took several years for Raheem to return to his normal self.

Charles reached the Port City of Mahi Mahi, which he presumed to be Atlantis but was not Atlantis at all. Without a map or experienced crew, he sailed for many days off course, in the wrong direction. When he landed in Mahi Mahi, his crew deserted him and he lived, but he was forced to return home without a boat or crew.

Diane was able to overcome many obstacles to reach Atlantis. She depended on a reliable map and a trusted and experienced crew, many of whom had sailed to Atlantis in previous voyages, thus securing the necessary resources to survive the North Wind.

While at Atlantis, Diane’s wealth multiplied exponentially as she was surrounded by financial advisors who helped her to maximize the yields of her hard earned savings. She was able to hire new employees, which freed her up to travel, invest in her community and mentor aspiring entrepreneurs.

At Atlantis, Diane felt relieved, for the island was everything she had imagined. She was able to buy a nice house for her family and not worry about paying bills or having access to quality education for her kids or proper health care for her parents. Atlantis provided for all of Diane’s needs – a paradise out beyond the sea.