It is no secret that ‘Real Housewives Of Atlanta’ star, and R&B vocalist Kandi Burruss is a woman on her grind, from writing songs for others, juggling a number of businesses including her own sex toy line, as well as boutiques. In her latest interview Burruss has revealed her best business tips, and advice on how to become an entrepreneur.
Her most important lessons in business:
1) If you want to go into a business in which you don’t have any experience, you need to intern in that field to gain your own contacts and relationships. Relationships are everything! If you don’t do that, you need to be partnered with someone who has already worked in that area successfully.
2) People can be so much about having their own and not wanting to split anything, but it can be a huge benefit to have a partner who has strengths you don’t. My business partner for Tags, Peaches, she had already worked for years as a successful stylist. She had her own successful clothing stores. I kept asking her to team up with me and now we have multiple stores. It wouldn’t have worked as well if she were just my homegirl helping me out here and there. By partnering, I was able to get her full expertise and not lose a ton of money trying to figure things out.
3) Start following up on your ideas. Everyone has good ideas. Great ideas just float around in the air. Think about it: How many times have you thought about doing something but you waited, then see someone else doing it? We talk ourselves out of it before we even try. We think of all the ways it won’t work: it’ll take too long or cost too much. I say don’t wait. Start small if you have to, but follow up on your ideas.
I would also say that a lot of people don’t like to spend money. But you have to spend money to make money. I’ve always been the kind of person to live within my means, but I will put most of my money into a project that I know will make me more money.
And her advice to those up and coming entrepreneurs:
My advice to anyone out there looking to go into business is to first cut back on your spending. Get a cheaper apartment and less expensive car. Stop flossin’. Pull back on your expenses and put money to the side until you’ve stacked up enough to put toward your dream. If you’re not willing to invest in you, why would anyone else?As someone who’s been asked to invest in business ideas, one of the first things I notice is if someone is fly to death. They’ve got the latest bag and poppin’ shoes, but asking me for a $5,000 loan. That’s a problem! If you cut back on your expenses, you wouldn’t need an investor or financing. Even with a modest income, you can save enough in a year to get started.
**For more of Kandi on love, not wanting marriage, and more, check out the full interview here **
