 photo by steed media service
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CEO, Black Enterprise Magazine
Black Enterprise
magazine recently teamed up with Jaguar and Grey Goose to host a
private mixer at Noir Lounge in Atlanta. The mixer, which was
appropriately called ICONS, featured some of the nation’s most
astute business professionals. As the attendees enjoyed libations, live
music and hors d’oeuvres, the economic downturn remained an
attention-grabbing topic of discussion. Earl “Butch” Graves
Jr., the CEO of Black Enterprise, spoke with rolling out and offered powerful tips for business owners trying to survive the recession. –amir shaw
What is the first step that business owners should take to secure themselves during the economic downturn?
The most important thing is to reach out to the people who are your
best clients. You need to meet with them and secure your business to
the best degree that you can. And you must also be prepared to take a
pay cut the same way that they are.
What are some things that your publication is doing to remain ahead?
What I’ve tried to do with Black Enterprise
is to keep our expenses low. We want to make sure that we are spending
on the essentials that can move our business forward. At the same time,
we talk with our clients and understand their goals and the pains that
they’re going through.
Are there certain areas that are better to invest in when it comes to starting a business?
Oftentimes, we follow our passion but our passion doesn’t meet a
need. I would look for areas that I know there was a need and deliver
to clients the thing that they can’t get anywhere else. But keep
your eyes towards the future until things get better.
What has been the biggest change in business in the last 10 years?
The biggest change in the business world is technology. Technology has
played a large part for blacks in business. We’re a mobile
economy now. If you don’t adapt your business to incorporate
technology, you will struggle.
