Blog

Over the years I have been amazed at how some people think minority entrepreneurs live and work. Most people are very comfortable with the stability they have on a job they may hate but get paid every 2 weeks for. They look at the benefits, pay, vacation time etc. The first difference between Entrepreneurs and the 9 to 5 worker is we understand the benefits AND the limits of working for other people. Working in the music industry I always HATED politics, butt kissing and people literally getting screamed at when they don’t do their job. I have seen it time and again and I am not cut out to take that but I liked working in the industry so the ONLY way for me to do it was to own my own business. If you are thinking about making the switch to being a small business owner there are a few things you should know off the bat. Please consider these things BEFORE you make the leap. Click “NEXT” above or below for the next myth

We Make a lot of Money

Ideally, you can but not initially. You are learning how the operation works, hiring and firing, organizing, getting your taxes in order buying supplies, finding clients and getting everything in order. For the first two to five years unless you have a BRILLIANT idea and funding, you will probably struggle for a while but all is not lost. The benefit and the “high” of working for yourself is worth it if you can hang in there. Typically, the rules for minority entrepreneurs are different. We don’t often have a lot of financial resources and if we make the leap to being a small business owner the last thing we want are investors breathing down our necks but there are some ideas where you MUST get investors involved. As the old saying goes when you start-up use OTHER people’s money instead of your own or your family’s.

We Do Nothing all Day

Yeah, nothing all day but WORK. Don’t I wish. Eventually, you do get to a point where you learn the rhythm but I know many entrepreneurs that work 8 to 18 hour days.  The wise ones ALWAYS keep an eye on the bottom line even if they are able to work less and have people in place to watch over their businesses but we work and we work a LOT. Once again, the high of knowing the business belongs to you and the fact that you are doing what you really WANT to do makes the time go by VERY fast.

Anyone can be an entrepreneur

Not so. It takes a LOT of discipline, patience, creativity, flexibility, money shifting, savvy, selling, control, relationship building and determination. Few people can do all those things and still find a way to pay the bills when a client is  and will alway be a late pay.

You Set your Own Schedule

Yes and no, it all depends on what you do and how you do it. Eventually you can but not initially, the business sets your schedule for you.

You Only do One Job and Hire other People to do the other ones

In a perfect entrepreneur world… absolutely in the real world HELL NO. You do ALL the jobs for the first couple of years and there are certainly some things you are not going to be good at and hate but they have to get done. The first couple of years are the true test for the entrepreneur to see what you are made of. If you can do all the work and still reach your bottom line, you are where you need to be.

Great Entrepreneur Think of Ways to Make Money First

Nope, those are usually the ones who fail miserably. If you are the business of buying selling businesses then yes this will work. If you are in the business of keeping a business for at least 5 to 7 years (the realistic amount of time you should grow, maintain then sell a business to accumulate wealth) then no, thinking of money first won’t work. So what makes for a successful business?  The key is PASSION… plain and simple. You can’t make a great cheesecake and run a bakery if you don’t have a passion in baking. The end result will be a disgusting cheesecake. There is the old saying, do what you love and the money will come. Some people say, “Do what you love and find a way to make money with it.” I agree more with the first one. When you do what you love people will see and if they like it offer you money for it. If you are doing something right now and people are willing to pay you for it, you have a potential small business.

You Can Create a logo and you are an Entrepreneur

These kinds of people actually make it hard for legitimate entrepreneurs. It takes a LOT more than that. Getting an email with a gmail.com extention is NOT a foray into being an entrepreneur. A complete presentation is key and if you don’t take the time to get your presentation in order, you are not legitimate. If you are a beginner and you have a great idea and you are making money, every bit of that money, (and you may still have to work for someone else in the process) should go into building your business not new shoes or a new car. Getting a professional site done, registering on all the social networks, having a professional logo etc all add up to you having a successful business.

Some Entrepreneurs Fail

MOST do. They are not prepared for the amount of work that goes into it. They don’t plan, they don’t grow etc. The entrepreneurs who succeed are always in ahead of the 8-ball, learning new skills, technology and maintaining relationships with clients and/or customers. There are also those who “sustain” this is where they are neutral in their success but if they get sick or something happens to them the business could literally fold. They are the ones who never hire anyone to help and they keep every penny to themselves.

You eliminate Stress when you work for yourself

Yes and no. Depends on how you determine what Stress is. I think stress is doing what I don’t want to do for work and even owning my own business there are parts of it I don’t like doing but I realize they have to be done. Others may be stressed out because they can’t pay their rent on time if they work for themselves. Initially, that will happen.

Being an Entrepreneur is Always fun

It can be and it SHOULD BE but many of us take ourselves too seriously and we don’t enjoy the fruits of our labor. Time is very limited and if you are in a relationship or married it’s even more difficult to balance your time and energy but for the most part, yes it is fun because you are repeatedly investing in yourself sans permission, politics and BS. My best in business

KevRoss

The apple doesn’t fall far from the tree (in a perfect world that is) BET Founder Bob Johnson’s son is also running his own business in the form of fashion for men. Taking time to hone in on his side business, (Brett is also a producer who worked as an executive producer on Lee Daniel’s The Butler) the entrepreneur travels to Italy more than seven times a year to make sure that his line is top-notch. Unlike many other designers, Johnson is targeting men of ALL ages with various appealing clothes  for everyday wear. We wish him the best.

Last Saturday, fashion designer/entrepreneur Brett Johnson showcased his Pre-Fall 2015 outerwear collection at Neiman Marcus at Mazza Gallerie in Washington, D.C. Throughout the day, various VIPs stopped in to view and purchase the Italian-made jackets, trench coats and bombers. Guests included Renee Brown (Chief of Basketball Operations and Player Relations, WNBA), menswear designer Everett Hall, attorney Mark Lefkowitz, WPGC/CBS Radio morning show producer Poet Taylor, Devon Pina (The Fashion Citizen), Donna Jones (DCW 50); Cheylin Parker (Everything Girls Love), Harley Morgan(ROE: The Agency), Sheila Johnson (Founder/CEO, Salamander Hotels & Resorts) and Bob Johnson (Founder/Chairman, RLJ Companies). The trunk show was a success, garnering double the sales of last year’s event. ATLANTA: Brett Johnson is hosting a trunk show at Neiman Marcus/Lenox Mall on Saturday, June 20 from 10am – 5pm. RSVP at [email protected] (invite below) For more information on the Brett Johnson Collection, visit https://brettjohnson.co/. Follow them at @BrettJohnsonCo. See more images of Brett’s line click “NEXT” above or below.

 

Brett Johnson BET Founder Bob Johnson’s son premieres clothing line in Atlanta

The apple doesn’t fall far from the tree (in a perfect world that is) BET Founder Bob Johnson’s son, Brett Johnson, is also running his own business in the form of fashion for men. Taking time to hone in on his side business, (Brett is also a producer who worked as an executive producer on Lee Daniel’s The Butler) the black entrepreneur travels to Italy more than seven times a year to make sure that his line is top-notch. Unlike many other designers, Johnson is targeting men of ALL ages with various appealing clothes for everyday wear. We wish him the best.

Last Saturday, fashion designer/black entrepreneur Brett Johnson showcased his Pre-Fall 2015 outerwear collection at Neiman Marcus at Mazza Gallerie in Washington, D.C. Throughout the day, various VIPs stopped in to view and purchase the Italian-made jackets, trench coats, and bombers.

Guests included Renee Brown (Chief of Basketball Operations and Player Relations, WNBA), menswear designer Everett Hall, attorney Mark Lefkowitz, WPGC/CBS Radio morning show producer Poet Taylor, Devon Pina (The Fashion Citizen), Donna Jones (DCW 50); Cheylin Parker (Everything Girls Love), Harley Morgan(ROE: The Agency), Sheila Johnson (Founder/CEO, Salamander Hotels & Resorts) and Bob Johnson (Founder/Chairman, RLJ Companies). The trunk show was a success, garnering double the sales of last year’s event.

ATLANTA: Brett Johnson is hosting a trunk show at Neiman Marcus/Lenox Mall on Saturday, June 20 from 10am – 5pm. RSVP at [email protected] (invite below) For more information on the Brett Johnson Collection, visit https://brettjohnson.co/. Follow them at @BrettJohnsonCo.

Entrepreneurs and biz owners should certainly consider this… Shark Tank’s Mark Cuban makes some great points. Here is a way you can wipe your FaceBook posts clean.

Find Your Own Replacement in Times of Need

We get SO caught up in the day-to-day that we rarely consider what would happen if we could NOT work. I have literally seen businesses shut down when the owner got sick or was not able to work. I was talking to a minority black entrepreneur who does an entertainment site and he was telling me that he literally works 13 to 15 hour days. I asked him why and he said news keeps coming and he has to be there to post it (see Automate). I personally work 3 hours a day and for me THAT’s too much, this does not include my personal business like bills, accounting, errands, client needs, responding to email etc, when I combine everything, I work about 4.5 hours a day and I’m working on taking that to 3. I can’t imagine working like he does and we primarily do the same thing.  Here are a few tips to what I have done to help put your business on auto pilot. (Click NEXT above or below the post to see the next segment)
—————————–

Hone in on the employee that thinks and acts the most like you

Find Your Own Replacement in Times of Need

Almost ALWAYS the people who complain about not making enough money to hire someone are the same ones that don’t INVEST in their businesses when they CAN hire someone, even part time or per project, to help so that they CAN make more money. They are thinking in reverse order. In other words, if you want to make more money you HAVE to INVEST more money INTO your operation. Having someone act on your behalf will open the door for you to focus on marketing, client needs, up-selling, educating yourself on new trends and growing your business. You’re gonna have to pull some money from somewhere to do this but we ALL have unnecessary expenses like cable that we never watch or downgrading some of our other utilities or subscriptions which all add up each month. There’s also always the one employee that really comes through that can literally answer your questions in advance, take instructions AND implement very well and think just like you when you are not around. I am SO incredibly blessed to have a great person just like that. Sometimes when you do a niche business, it’s very difficult to find that person because they may not know your business but they can learn and they are GOLD. You MUST find that needle in the haystack and it may take you a while to do so but it truly frees you to do more for your business and it’s the ONLY way you are going to grow without killing yourself.
—————————–

Eliminate and Automate

Find Your Own Replacement in Times of Need

Checking your email repeatedly throughout the day, for example, is a wasted effort that will eat up a LOT of time and energy. Also watch phone calls to friends or family during working hours. You have to discipline yourself to get the most important work done early in the day and eliminate all distractions. I get it, as black entrepreneurs we are always looking for that magical email that says ‘LOOK, Here’s some Money!’ However, for those of us who are legitimate and have passion for what we do FIRST, we know that money will come so FOCUS on the brand or something else after your initial call to the client.  Kill the auto email, twitter, Facebook alerts on your phone unless you REALLY need them as they come out. As far as that magical email you are looking for… Have you ever noticed that you usually get the things you want in everyday life when you are NOT looking? I mentor several young black men and women and I tell them “The universe likes what’s moving and it turns that moving object into a magnet.” Think of a race, for example. a majority of people are on the sidelines, they don’t have a goal like the person running in the race. His goal is the finish line. The people on the sidelines are cheering him on and  giving him water ESPECIALLY when he is winning. While he is focused on the finish line he’s getting the added bonus of something he is not focused on support, adulation, admiration and assistance in helping him reach that goal. He’s not looking or focused on that support it’s an added bonus of his goal(s).

If you can wait until 11am to check your email IN THE OFFICE ONLY so that you can readily respond, you can get the most important stuff done right away and skip through the 95% of pure BS email that comes with it. Instead of the appetizer, you get the entire meal when you wait until 11am (also check around 4pm)

This is what I do. Instead of repeatedly checking email all day I only check it twice, when I am in the office. I don’t have email access on my phone anymore because it makes me feel like one of the zombies we all see every single day CONTANTLY checking their phones every chance they get.
—————————–

Make the most important aspects of your business mobile

Find Your Own Replacement in Times of Need

You can literally hire a small team of people to help you run your business for pennies on the dollar. Quickbooks, for example, has an EXCELLENT online system that charges a small fee monthly that automatically integrates with your bank account(s) to make managing your finances and spending SO much easier. In addition I LOVE their apps some of which offer services that can scan, label and attach your receipts for tax purposes. Set aside a certain day and time to handle this like Fridays or Sunday mornings whatever works best for you.  You can do this from anywhere. I do have one concern with the online system, you can’t back it up, so if you decide to cancel the service they have you trapped. I hear they are working on a solution for this but in the meantime I would suggest printing out your reports each month.
—————————–

Look OUTSIDE of family or friends

Find Your Own Replacement in Times of Need

One of the GREATEST mistakes you can make as a black entrepreneur is trying to take people where they don’t want to go, trying to help people who don’t want to be helped and babysitting people who feel entitled. Hire people you can FIRE if you need to sans the stress or family problems that result from a bad situation where you had good intentions. Believe me when I tell you I have seen families torn apart by hiring other family members. It’s just not worth it if they can’t do the job.
—————————–

Focus in on repeat clients…

Find Your Own Replacement in Times of Need

You must absolutely stop wasting time with clients that will NEVER support  you. and keep them informed when you go on Vacation or take some time off. Let them know who they can reach in your absence. I do find however, that talking to a person that you KNOW will rarely support you may open the door to some valuable information as to why they don’t support you more. I know people in my business who don’t support me because competitors have given my industry a bad name over the years. They ask for money based on tenure instead of good service and keeping up to date and I have to pay the price for their belly-aching and whining. In addition I have had potential clients who do indeed feel a sense of obligation to help people in my industry who have worked for many years and who live off tenure. They feel like if they do something with me the legitimate and up-to-date service, they will hear from competitors complaining as to why they are not supporting them (and they ALWAYS do). The clients don’t have the budgets to give them so they’d rather not advertise at all instead of telling them the truth and supporting those who do the work. It’s unfair but understandable from a black perspective. They want to help everyone but unfortunately, you can’t do that, still they don’t want to look like the bad guy.  Because of this, I have to continue to make my business more appealing to other clients (who still get bombarded by the same competitors) to keep the doors open.
—————————–

Take a Vacation to get Reenergized

Find Your Own Replacement in Times of Need

I’m ashamed to admit that I took my first official vacation to go on the Tom Joyner cruise this past April. It was the first vaction I have had in 20 years! You read that right. I was so busy trying to build my business that I was afraid to take too much time off. Sure I went to Buffalo to see family or to industry events in New York, Atlanta etc but NOTHING for myself that was not industry related. I LOVED it and plan to do a lot more traveling. You want to gain perspective? Take a vacation.
—————————–

To Grow your business

Find Your Own Replacement in Times of Need

Just because things are going well today, it’s not a promise for how things will be tomorrow. As changes in your industry take place, sometimes at a very rapid pace, you want to make sure you are on top and being innovative and productive. You cannot do everything yourself and expect to grow. It’s not going to happen.  You have to pull yourself away for a minute to see the operation from a distance.

Never tell anyone your plans, goals or dreams UNLESS they can help you

(excerpt from my new eBook “Mind Your Own Damn business: Hard Lessons Learned the WRONG Way!” available on Amazon July 1, 2015)

As black people, we have such a dire need for approval. Mostly because it drives not just us but our desires or more important need for acceptance and approval. We must realize that people will never see for you what they can never see for themselves. If a young awkward looking, tall thin black girl from the ghetto tells her family or friends that she wants to be a model, they may laugh at her and tell her it’s not going to happen and she may accept that they are right and forget about her dream even though she grows up to be outrageously beautiful and her dream could have very well been a reality but now she’s a cashier at Wal-Mart with 2 kids. A crab in the barrel victim. The people she depended on and trusted didn’t believe in THEMSELVES which caused her not to believe in herself. This is why black black entrepreneurs should never tell someone else they can’t do something because we learn through doing business that anything is possible and our confidence to have our own businesses skyrocket to a level we never thought possible. We are keenly aware of our uniqueness.

If the potential model pursued that goal without telling her family, they would have been the same people who would have said “Yes chile, I always saw something special in her, I knew she would be a star (can I borrow $20,00?).” My cousin used to tell me “Everybody Loves a Winner” and we want to be associated with them, even if we have nothing to do with their success. That’s our need for approval on the reverse. If we ASSOCIATE ourselves with successful people maybe some of it will rub off on us. It will and it’s NO different when we associate ourselves with NEGATIVE people. 

We often want to take responsibility for all that’s great and shy away from what is negative. That’s not just black people, that’s the human race. So in essence, it is best to pursue your dream and keep your mouth shut, especially if the people you want to tell have no understanding of what you are pursuing. I have to tell the truth about my people, we can be some of the most negative people when it comes to encouraging each other. We laugh at each other’s failures and we don’t compliment or encourage each other. This, of course, is where the “crabs in the barrel,” theory comes from. I learned a long time ago that the best kept secret is the one you never tell. If you want to break out of your current circumstances and there is nobody in your immediate circles who can relate SHUT UP. Find the people and the door to DO IT!

My best in business

KevRoss

One of the greatest complaints and challenges in business is almost always money. We rarely consider the REAL reasons we don’t make money but it goes BEYOND “the Economy” or “Budgets” truth be told clients will always FIND money for services they believe in. In addition, consider that there are small businesses who absolutely do NO selling and make all the money they need and more BECAUSE they are doing one or all of the things below. (click Next above or below to see the next segment)

Look at what you are producing. Are you up to date?

This is a HUGE mistake I have seen people make in the music industry and my business. The music industry is very fast paced and things can literally change from week-to-week. Many small businesses in the industry are not up to date. They are run by one person who doesn’t have a staff and who constantly uses excuses about not hiring anyone like they don’t have the extra money. Most times we DO have the money even for assignment based jobs but we are often cheap and greedy and we don’t want to share our profits. There are some people who legitimately need the money but most people I come across could cut out the cable they never watch at home and put that money into building their brands. You will NEVER have the extra money if you are not up to date and if you don’t SPEND some to make some (wisely of course). Hiring family is not a good idea because they may or may not want to do what YOU do and it creates problems. Hire someone even part-time or on assignment who is strong where you are week. If you are not able to keep up with current trends in your industry it will be very obvious in what you produce. Don’t take that chance because once you are labeled “dated” you are just that and potential clients will lose interest in you.

Stop using your Tenure

People who use their tenure to bully clients into buying are mere cry babies. Your tenure is meaningless if you are dated and at times It can work AGAINST you because you will appear OLD. I have had this problem for years with competitors who ALWAYS call my clients whenever they see an ad on my site or my publications. They moan and groan like kids in a playground about being left out and how they have worked so many years in the industry and should have the same benefit as my brands do but they never do the work. They copy and steel from others (including me) and want their own credit for it. They do that because their products suck and the clients often come back and tell me this. Focus on the product FIRST. What is it that you can do that nobody else, even competitors can’t do? If you can’t come up with anything, like my competitors can’t you will rely on whining and belly aching about being left out like its a child’s baseball game and you were the last to be chosen. Clients are outrageously annoyed by business owners like this and if you have to struggle especially after your first year in business and you don’t have several steady clients… something is wrong.

Use Social Media Networks

I am a HUGE social media person with my business and it works to my advantage because most if not all of my competitors have never taken the time to learn or understand how important social media is. We are all over 40 but that doesn’t mean we can’t be on top of the trends but some people are lazy. I will tell  you if you want to earn more you have to be more and DO more and part of that is constantly branding your product. Social media doesn’t have to be a chore and it can actually be automated by using a few services while you work. There are also apps for retailers that can either film you working or help keep customer up to date to check out your services.

Stop comparing yourself to others

I had a boss that once told me that if you are in a race and you look to either side of you, you lose time… he said only focus on the finish line. I have to agree. When you look at what someone else is doing AND you compare yourself to them, it speaks volumes for your services or what you lack. What can you do BETTER or how can you provide more appealing services to your clients? Stop copying and come up with your OWN way of promoting and succeeding with your brand.

Upsell Your Current Clients

Chasing dead clients is a waste of time. There are some clients who will NEVER support you. Stop calling them and asking them to support you and focus on your current clients who would probably be willing to spend even MORE money with you if you have something ELSE to offer of value. Don’t try to raise your rates on them, you may lose them if you do that.

How Can you Improve?

Having a business is not only about working, it’s about researching new trends and educating yourself. Are you doing that? Some entrepreneurs work WAY too many hours a day, especially those with mobile businesses. Check out Groupon and Meet-ups for meetings that will help you network with other entrepreneurs so that you can learn more about what’s going on in your industry.

Take your Clients to lunch

This is one of the most valuable things that MANY entrepreneurs ignore today but it STILL works. Take you clients to lunch (and please don’t expect them to pay, most of them will insist on paying anyway if they value YOU). They want to talk to you and get to know you better. Great clients will tell you things you need to hear about your industry when you spend just a small amount of personal time with them. You have to keep investing in your business by using your leverage

Send out an email blast

Do you have a new product? What’s the latest news with your business? I can’t tell you how many new clients I have gotten via email blasts that I do daily. People pass your email blasts around and it’s a great way to keep your brand on the minds of others and to make more revenue. Give your email blasts some added value talk about something of interest to your client base and industry. Give them some tips or news, they LOVE it.

Consider Google Adwords

Want to draw more people to your business? Google Adwords is excellent but it takes a little bit of time to understand. It’s not quick and easy to understand but it works. You can target your campaigns to a specific demo, city and zip code and use specific keywords to generate your ads. There are always free $100.00 coupons online to promote your brand. Check www.google.com/adwords for more info

Attend Conferences where your Clients go

There are literally hundreds of conferences every year. I go to a few very important ones to meet potential clients face to face. I like to meet marketing people at various corporations. I don’t like gatekeepers and middlemen, they ALWAYS get in the way of your success so find a way to get around THEM. People will do business with you because they like you and believe in you. They can’t do that if they don’t KNOW you

Get a feature in a POPULAR Blog in your field

Write press releases about your business or new products. There are services like PRWeb that will put your press release in front of thousands of bloggers, websites, magazines and newspapers. Are you using them?

Get Testimonials from Satisfied customers

This is a great way to garner MORE interest in your product. Use this at all times and make sure you rotate especially from well-known people

 

This past week a HUGE controversy took place online when Jay-Z and his wife Beyonce took a picture with Tidal employees sans black participants in the employee group pic.  People were greatly disappointed that Jay Z even did an impromptu freestyle rap about being discriminated against allegedly by iTunes and other streaming companies for promoting Tidal and he brought up the names of tragic police victims like Freddie Gray to make his point.

Over a month ago, Tidal executive Vania Schlogel stated that contrary to what people got from the press video, Jay Z is NOT the sole owner of Tidal. She states that the artists are equal partners in the venture and that Jay-Z’s contribution, $65 Million, with an below-market interest rate to support the company. STILL it DOES raise the question of why a huge corporation like Tidal does not have any black employees with an investment of $65 million and more from other black artists. As the interview was done BEFORE the pic popped up, she does not address. In addition, Jay-Z has also not addressed as of yet. See her previous interview below.

 

Style Expert Tai Beauchamp, Host of TLC’s “Dear To Wear.” Photo credit: Courtesy of TLC

TLC’s ‘Dare to Wear,’ Hosted by Style Expert Tai Beauchamp, Brings Women Out of Their Style Funks Premiering Friday, June 12^th at 10:00P/9:00C

Kicking off the weekend right, TLC gives viewers makeovers they’ll be talking about all weekend long. Starting June 12th at 10P/9C, the network adds a little more style to Friday nights with the series premiere of a new makeover show DARE TO WEAR.

DARE TO WEAR literally flips the script on the makeover show construct. Host and style expert Tai Beauchamp asks two extreme fashion disasters on total opposite sides of the style spectrum to switch perspectives by swapping wardrobes. The result is like hitting their own personal style reset button. Not only does this change their outward appearance, but their inner sense of self. After being shocked to learn that they have to swap clothing, these women will spend a day in the other’s clothes. The women gain a newfound understanding, and branch out to leave their comfort zone for a head to toe transformation.

Dare to Wear is produced by Shed Media for TLC.

About Tai Beauchamp:
An influencer, public speaker, media personality and entrepreneur, Tai engages women around the world with her genuine approach celebrating inner and outer beauty. A publishing industry veteran, Tai’s expertise in media, fashion and beauty was solidified through her experience as a beauty and fashion editor at Harper’s Bazaar, Good Housekeeping, O, The Oprah Magazine, Seventeen and at Vibe Vixen Magazines. Followed by years of consulting with international philanthropist Ray Chambers, Tai launched her media company, Tai Life Media, LLC to more holistically connect style and empowered living.

Experts to Guide Small Business Owners and Entrepreneurs

Free KNX Event Set for Universal Sheraton This Friday May 8

(Los Angeles) – KNX 1070 NEWSRADIO is bringing together prominent business leaders and successful entrepreneurs for the KNX Business Hour’s 2015 Small Business Summit, presented by MOO.com. The free event which includes a continental breakfast and networking session will take place on Friday, May 8 at 7:30 a.m. at the Sheraton Universal Hotel in Universal City.

The event, entitled “Achieving Small Business Success,” is designed to give small business owners and those thinking about starting a business insight into the key challenges of turning a passion into a profitable venture. Frank Mottek, business anchor and host of the KNX Business Hour heard weekdays at 1:00pm, will moderate the discussion. Some of the topics will include small business trends, the impact of a rising minimum wage, crowdfunding, employee benefits, insurance, regulations and marketing.

Panelists will include KNX Business Hour featured contributors and other special guests, including Beacon Economics founding partner Christopher Thornberg; Attorney and L.A. BizFed Founder, David Fleming; Entrepreneur Organization President, Gary Alexander; local small business owner and the author of “Sell Local. Think Global.,” Olga Mizrahi; District Director of the Small Business Association’s Los Angeles office, Victor Parker; and strategist and crowdfunding expert, Adam Chapnick.

Jan Perry, General Manager of Economic & Workforce Development Department City of Los Angeles and former Los Angeles Councilmember, will deliver welcoming remarks at 8:30am.

The event will commence with a networking breakfast. Admission and parking are free with advance registration at cbsLA.com/businessbreakfast.