Nikki Porcher has revolutionized the landscape for Black women entrepreneurs through her nonprofit organization Buy From a Black Woman, which has helped generate over $2.7 million in revenue for Black women founders. The 2024 Thought Leader of the Year and Woman of the Year started in 2016 with a simple blog documenting her purchases from Black women-owned businesses, which evolved into a comprehensive platform that includes the highest-ranking online directory of Black women-owned brands.
Under Porcher’s leadership, the organization has secured partnerships with global retailers like H&M and established itself as a crucial resource for aspiring entrepreneurs. Her approach to entrepreneurship combines practical wisdom with an unwavering commitment to supporting Black women business owners, exemplified by her extensive work as a business consultant, DEI trainer, and speaker at prestigious events including the Hope Global Forum and White House initiatives.
[Editor’s note: This is a truncated transcribe of a longer video interview. Please see the video for the extended version. Some errors may occur.]
What was that moment that you knew you were actually in business?
I had to have a difficult conversation with a person who was working for me. I really had to make sure they understand that this has to be done correctly and not just be passive with it. At that moment, I knew I was that person. That’s what CEOs do. That’s what founders do. That’s what people who take ownership do.
What was the idea? And how did you come up with this name?
The idea was to inform people about businesses owned by Black women. I started in 2016 with a blog where I was writing about things I bought from Black women. I would question the community, “Did you buy from a Black woman this week?” They would tag other businesses or talk about other Black women-owned businesses.
That developed into a directory because people wanted a central place to find Black women-owned businesses. It was a free directory with over 400 businesses. I started learning about the nonprofit process after working in nonprofit for seven years. I realized I could do more if I get more. And it really developed from there.
For any young woman who wants to start a business, how can she connect with you?
First, I’m going to ask why she wants to start the business. What problem are you solving? And why do you think you are the best problem solver?
Everybody is not equipped to be a business owner, and everybody does not need to be a business owner. I know we need generational wealth and legacy, but we also need consumers. We need people who are serious about making these businesses sustainable and profitable.
Visit buyfromablackwoman.org/educate, where we have worksheets as resources to better plan your business.
If you’re starting a business, why should you research before you start?
As business owners, you have to be nosy. Stalking is part of entrepreneurship. You need to know exactly what everybody like you is doing, what people who are not like you are doing, and what you don’t want to do.
Nothing is new under the sun in 2024. Use that to your advantage. Use other people’s failures. When you research, you understand what didn’t work for them. You can skip that step. You understand how people got funding, who they talked to, their skills, their experiences.
How important is the team for women starting their business?
Nobody works alone. You have to have a community to be sustainable. Starting out, you might think you cannot afford anybody. Guess what? There’s other business owners who need what you have too. Start bartering. Maybe there’s an accountant who needs marketing help and you can do social media. Reach for people at your level and grow together.
I’ve been fortunate that the people working with Buy From a Black Woman are people I’ve known for years. When the opportunity came, I could employ them, give them something purposeful. Because I love them and they love me, they’re going to love the work even more.
When you think of attention and understanding your numbers, how important is the financial relationship?
Money is everything. No money means you can’t stay in business, can’t work in your business, can’t pay people. I’ve learned that I am not supposed to be in charge of the money – I need to account for that. Being straight up honest with yourself, knowing your weaknesses, will take you further. You need to know what’s going on because people steal. Know if you need more education, more training, maybe even a therapist to understand your relationship with money.
Who should entrepreneurs have on their team?
You need a person who’s as insane as you in your life – somebody who won’t judge your crazy ideas, who’ll ask you to tell them more so you can build it out and see if it’s feasible. This person keeps your curiosity alive. Then you want somebody more sensible, down to earth, who can tell you from experience that something won’t work. They’re not afraid to tell you no. And then you just need you – knowing you can actually do these things. If an idea came to you, it’s because it can live and grow through you.
What does hope do for community?
Hope is a very powerful word. Hope starts wars, elects presidents, breaks up relationships. It’s very high currency. When you’re a business owner, you have hope. You’re hoping for something better because everything you’ve seen and experienced is just not good enough. Hope gives you courage and fearlessness. Never lose that hope in yourself.
[Rapid Fire Questions]
Once you’ve met Nikki, you now know what?
You are more courageous than you thought you were.
Support a Black woman business because
When you support a Black woman business, you support a whole community.
When you keep faith alive inside yourself, you
You live.
Never doubt yourself because
We have a convicted felon as president, so you too can do what you want to do.
What three things would you tell the next generation of CEOs?
First, you are more courageous and audacious than you thought. Second, you’re already equipped with the tools and resources – just do the work. Third, things are always working out for you. Sometimes it doesn’t look the way you thought, but when you sit in gratitude, you realize you asked for exactly what you’re getting.
The title would be “It Can Happen to You.”
