Afro Caribbean Business Network

Tag: Business Tips

  • Dr. George Fraser’s Approach to Wealth-Building Through Business Networks that all Black Entrepreneurs Should Know

    Dr. George Fraser’s Approach to Wealth-Building Through Business Networks that all Black Entrepreneurs Should Know

    The Power of Collective Action

    For more than three decades, Dr. George Fraser has championed a powerful message to Black entrepreneurs: systemic barriers cannot fall to individual effort alone, but strategic networks and collective action can overcome them. Dr. Fraser, founder of FraserNet and keynote speaker at the upcoming ACBN Legacy Symposium, offers Black business owners a proven pathway to wealth through network-based strategies.

    Networking as a Core Business Function

    Fraser’s methodology starts with a fundamental perspective shift. He urges entrepreneurs to treat relationship-building as a primary business function. This approach deserves dedicated time, resources, and measurement systems. Entrepreneurs transform networking from casual event conversations into strategic alliance-building with measurable returns.

    The Five Critical Connections

    At the heart of Fraser’s methodology lies “power networking.” This concept involves the deliberate cultivation of five specific connection types:

    • Knowledge sources
    • Opportunity brokers
    • Influence amplifiers
    • Resource providers
    • Door openers

    Entrepreneurs create networks with tangible business value by nurturing relationships in each category. These connections go far beyond mere social interactions.

    Strategic Positioning for Black Entrepreneurs

    Fraser highlights “network intelligence” specifically for Black entrepreneurs. This skill helps them understand how information and opportunities flow through existing business ecosystems. Black business owners can overcome information asymmetry by positioning themselves at critical junctures. This strategy addresses the disadvantage many face without inherited access to established networks.

    Creating Sustainable Networks Through Value Exchange

    The sustainability of networks depends on reciprocity. Fraser teaches entrepreneurs to identify their unique “network value” – specific expertise, connections, or resources they offer others. This value-first mindset transforms networking into mutually beneficial exchanges rather than requests for help.

    The 5-5-5 Method for Network Maintenance

    Fraser combats relationship atrophy with his systematic “5-5-5” method. This approach encourages entrepreneurs to:

    • Connect deeply with five new people monthly
    • Reconnect with five existing contacts weekly
    • Invest significantly in five key relationships daily

    The Path to Wealth and Community Transformation

    At the ACBN Legacy Symposium, Fraser will demonstrate how his methodical approach has helped thousands of Black entrepreneurs access previously invisible opportunities. His message resonates clearly with Black business owners building sustainable enterprises: strategic networks serve as essential infrastructure for wealth creation in a business landscape shaped by structural inequities. These networks can transform both individual businesses and entire communities.

    Register for the Symposium

  • Learning from Brian Scudamore: How 1-800-GOT-JUNK’s Systems Led to Franchise Success

    Learning from Brian Scudamore: How 1-800-GOT-JUNK’s Systems Led to Franchise Success

    When Brian Scudamore spotted an old pickup truck in a McDonald’s drive-thru in 1989, he saw more than just a vehicle—he envisioned a system that would revolutionize an entire industry. Today, as 1-800-GOT-JUNK approaches a billion dollars in revenue, Scudamore’s journey offers powerful lessons for Black entrepreneurs looking to build scalable, systems-driven businesses.

    The junk removal industry was fragmented and unprofessional when Scudamore entered it. Most operators were independent, with inconsistent service and unpredictable availability. Scudamore’s genius wasn’t in creating a new service but in systematizing an existing one. He implemented three key systems that transformed the business from a one-truck operation into an international franchise empire.

    First, he created a customer experience system that standardized every touchpoint, from the initial phone call (with a memorable number) to the final cleanup. The system included scripted greetings, uniformed teams, transparent pricing, and spotless trucks. This consistency built trust and allowed for premium pricing in an industry known for bargaining.

    Second, Scudamore developed an operations system that maximized efficiency. Truck routes were optimized, inventory was precisely controlled, and disposal processes were environmentally responsible and documented. These operational efficiencies created margins substantially higher than industry averages.

    Third, and perhaps most importantly, Scudamore built a people system focused on finding the right team members and developing them through standardized training. This system enabled rapid scaling without sacrificing quality or culture.

    More insights can be found in his book BYOB – Build Your Own Business, Be Your Own Boss

    For Black entrepreneurs, Scudamore’s approach illustrates how systematization can overcome traditional barriers to growth. By creating documented processes that can be replicated by others, entrepreneurs can scale beyond their personal limitations and build businesses with transferable value.

    As a keynote speaker at the upcoming ACBN Legacy Symposium, Scudamore will share how these systems allowed him to transform a simple service into a franchise opportunity that has created wealth for hundreds of franchise owners across North America. His lesson is clear: in business, the system is the solution. By focusing on creating robust, replicable systems rather than just selling products or services, Black entrepreneurs can build enterprises that generate wealth for generations to come.

    Register for Symposium here: https://www.eventbrite.ca/e/acbn-legacy-symposium-2025-tickets-1089074062839?aff=acbnblog

  • Building Robust Business Systems: Why It’s Critical for Today’s Black Entrepreneurs

    Building Robust Business Systems: Why It’s Critical for Today’s Black Entrepreneurs

    In the world of entrepreneurship, the difference between struggling and thriving often comes down to one factor: systems. For Black entrepreneurs facing additional structural barriers, implementing robust business systems isn’t merely helpful—it’s absolutely essential for survival and growth.

    The entrepreneurial journey typically begins with passion and personal effort. The founder becomes the business, handling everything from production to sales. While this approach may work initially, it creates three dangerous limitations: burnout becomes inevitable, scaling becomes impossible, and the business remains unsellable without the founder’s continuous involvement.

    The statistics are sobering. Nearly 67% of Black-owned businesses in Canada operate as solopreneurs, compared to 41% of non-Black businesses. This independence often stems from necessity rather than choice, as many Black entrepreneurs launch businesses after facing discrimination in traditional employment. However, this solo approach severely limits growth potential.

    Robust business systems provide the antidote to these limitations. By creating standardized processes for everything from customer acquisition to fulfillment, entrepreneurs can effectively step away from daily operations while maintaining quality and consistency. This systematization allows for several critical advantages: the ability to train others quickly, the capacity to scale operations beyond the founder’s direct supervision, and the creation of business value independent of the founder’s continuous involvement.

    For the Black entrepreneur specifically, these systems address an additional crucial need: overcoming bias in the marketplace. When every customer interaction follows a well-designed system, the quality of service speaks for itself, helping neutralize potential discrimination that might otherwise impact business success.

    The franchising focus of this year’s ACBN Legacy Symposium directly addresses this systems-building necessity. Franchising represents the ultimate expression of systematic business operation, with every aspect of the business carefully documented and optimized.

    Building these robust systems requires investment of time and resources upfront, but the returns are transformative. Black entrepreneurs who systematize their operations report 3.2 times higher revenue growth and significantly lower stress levels compared to those operating without formal systems.

    In today’s competitive marketplace, Black entrepreneurs must build businesses that work without them rather than businesses that depend on them. Robust systems make this possible.

    Register for Symposium here: https://www.eventbrite.ca/e/acbn-legacy-symposium-2025-tickets-1089074062839?aff=acbnblog

    Learn more here: ACBN Legacy Symposium

  • How the ACBN Legacy Symposium Addresses Key Challenges Facing Black Entrepreneurs

    How the ACBN Legacy Symposium Addresses Key Challenges Facing Black Entrepreneurs

    Black entrepreneurs face a unique set of challenges that often make business development more difficult compared to their non-Black counterparts. The ACBN Legacy Symposium has established itself as a crucial response to these specific barriers, offering targeted solutions rather than generic business advice.

    Access to capital remains perhaps the most significant hurdle. According to a 2023 study by the Canadian Black Chamber of Commerce, Black entrepreneurs are 2.5 times more likely to be rejected for business loans than white business owners with identical qualifications. The Legacy Symposium directly tackles this issue by connecting entrepreneurs with financial institutions that have committed to equitable lending practices, while also providing workshops on alternative funding strategies including community bonds, angel investors specifically interested in supporting Black businesses, and creative bootstrapping approaches.

    Customer acquisition presents another significant challenge, particularly for businesses targeting markets beyond the Black community. The Symposium addresses this through expert-led sessions on digital marketing tactics specifically designed to overcome unconscious consumer bias, building authentic brand stories that resonate across demographics, and leveraging community endorsements to establish broader market credibility.

    Building an effective team often proves difficult when Black entrepreneurs lack extensive professional networks. The Legacy Symposium’s structured networking sessions create immediate connections with potential employees, partners, and mentors from diverse backgrounds who are aligned with the founders’ vision and values.

    Perhaps most critically, Black entrepreneurs frequently lack access to established business systems and processes that more privileged founders inherit through family businesses or corporate experience. The Symposium’s focus on franchising this year directly addresses this gap by providing complete operational frameworks that can be implemented immediately.

    By gathering hundreds of Black entrepreneurs in one location, the Legacy Symposium also combats the isolation many founders experience. The event creates a powerful community of practice where challenges can be discussed openly and solutions shared without judgment.

    This targeted approach to specific barriers makes the ACBN Legacy Symposium not just another business conference, but an essential catalyst for transforming the landscape for Black entrepreneurship in Canada.

    Register for Symposium here: https://www.eventbrite.ca/e/acbn-legacy-symposium-2025-tickets-1089074062839?aff=acbnblog

  • Networking Tips for Business Owners

    Networking Tips for Business Owners

    [et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]

    Leading up to the ACBN Legacy Symposium I thought it would be good to sharpen our networking skills with 5 key tips on building relationships in person. As you know we have the king of Networking Dr. George Fraser who will be dropping gems but we should be prepared ahead of time. Here are 5 tips to consider:

     

    [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row column_structure=”1_5,1_5,1_5,1_5,1_5″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_5″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Smile” use_icon=”on” font_icon=”||fa||900″ icon_color=”#FFD733″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#03A7F0″ text_orientation=”center” global_colors_info=”{}”]

    Smile and make eye contact. When you meet someone in person, start by smiling and making eye contact. This will help to create a warm and welcoming environment and show that you are approachable and friendly.

    [/et_pb_blurb][/et_pb_column][et_pb_column type=”1_5″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Ask Questions” use_icon=”on” font_icon=”||fa||900″ icon_color=”#FFD733″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#03A7F0″ text_orientation=”center” global_colors_info=”{}”]

    Be curious and ask questions. Show genuine interest in the person you are speaking with by asking thoughtful questions and actively listening to their responses. This will help to build rapport and establish a connection.

    [/et_pb_blurb][/et_pb_column][et_pb_column type=”1_5″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Share Passions” use_icon=”on” font_icon=”||fa||900″ icon_color=”#FFD733″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#03A7F0″ text_orientation=”center” global_colors_info=”{}”]

    Do not only share your business but also your passions. Share your own passions and interests with others, and do so with enthusiasm and joy. This can help to spark conversation and establish common ground.

    [/et_pb_blurb][/et_pb_column][et_pb_column type=”1_5″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Add Value” use_icon=”on” font_icon=”||fa||900″ icon_color=”#FFD733″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#03A7F0″ text_orientation=”center” global_colors_info=”{}”]

    Offer help and value. Look for ways to offer value and help others in your network, whether that’s by connecting them with someone in your network or sharing your expertise. This can help to build trust and establish a positive reputation.

    [/et_pb_blurb][/et_pb_column][et_pb_column type=”1_5″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Follow Up” use_icon=”on” font_icon=”||fa||900″ icon_color=”#FFD733″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#03A7F0″ text_orientation=”center” global_colors_info=”{}”]

    Follow up and stay in touch. After you’ve made a new connection, make sure to follow up and stay in touch. Send a personalized message or email, and look for opportunities to continue the conversation or meet up in person.

    [/et_pb_blurb][/et_pb_column][/et_pb_row][et_pb_row admin_label=”row” _builder_version=”4.20.0″ background_color=”#000000″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_margin=”50px||50px||true|false” custom_padding=”25px|35px|25px|35px|true|true” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][dsm_icon_divider use_icon=”on” font_icon=”||divi||400″ icon_color=”#03A7F0″ color=”RGBA(255,255,255,0)” divider_weight=”5px” _builder_version=”4.20.0″ _module_preset=”default” background_enable_color=”off” global_colors_info=”{}”][/dsm_icon_divider][et_pb_cta title=”Speaking of Following Up!” button_url=”https://www.linkedin.com/in/ryan-oneil-knight-6534b134/” url_new_window=”on” button_text=”Let’s Connect on LinkedIn” _builder_version=”4.20.0″ _module_preset=”default” background_enable_color=”off” use_background_color=”off” custom_button=”on” button_text_color=”#000000″ button_bg_color=”#FFD733″ button_border_width=”0px” button_icon=”$||divi||400″ global_colors_info=”{}” button_bg_color__hover_enabled=”on|hover” button_bg_color__hover=”#E5F1F9″ button_bg_enable_color__hover=”on”]

    LinkedIn is an underrated tool that can amplify your follow-up. Here are some tips to consider to help you effectively use the social media networking platform.

    [/et_pb_cta][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Text” _builder_version=”4.20.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]

    Here are some tips on how to use LinkedIn to increase business

    [/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Optimize” use_icon=”on” font_icon=”||fa||900″ icon_color=”#03A7F0″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#546A7B” text_orientation=”center” global_colors_info=”{}”]

    Optimize your profile: First impressions are crucial, and your LinkedIn profile is often the first impression people have of you and your business. Make sure your profile is complete, accurate, and professional. Use a high-quality headshot, write a compelling headline, and ensure that your summary and work experience are up to date.

    [/et_pb_blurb][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Network” use_icon=”on” font_icon=”||fa||900″ icon_color=”#03A7F0″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#546A7B” text_orientation=”center” global_colors_info=”{}”]

    Build your network: Send a connection request to people you meet at the event and open the conversation by sending a  note with the request to remind them of how you met.

    [/et_pb_blurb][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Share” use_icon=”on” font_icon=”||fa||900″ icon_color=”#03A7F0″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#546A7B” text_orientation=”center” global_colors_info=”{}”]

    Share valuable content: Share relevant and informative content that showcases your expertise and adds value to your connections. This will help you establish yourself as a thought leader in your industry and increase your visibility on the platform.

    [/et_pb_blurb][/et_pb_column][/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Engage” use_icon=”on” font_icon=”||divi||400″ icon_color=”#03A7F0″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#546A7B” text_orientation=”center” global_colors_info=”{}”]

    Engage with your network. Like and comment on your connections’ posts and share your own content to encourage engagement. This will help you stay top of mind with your network and build stronger relationships.

    [/et_pb_blurb][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Publish” use_icon=”on” font_icon=”||fa||900″ icon_color=”#03A7F0″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#546A7B” text_orientation=”center” global_colors_info=”{}”]

    Publish articles: LinkedIn’s publishing platform is a great way to showcase your expertise and reach a wider audience. Write articles on topics that are relevant to your business and share them with your network.

    [/et_pb_blurb][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Consistency” use_icon=”on” font_icon=”||fa||900″ icon_color=”#03A7F0″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#546A7B” text_orientation=”center” global_colors_info=”{}”]

    Be consistent: Finally, consistency is key on LinkedIn. Make sure you’re posting regularly, engaging with your network, and updating your profile as needed. This will help you stay top of mind with your connections and position your business for success on the platform.

    [/et_pb_blurb][/et_pb_column][/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_blurb title=”Export” use_icon=”on” font_icon=”||fa||900″ icon_color=”#03A7F0″ _builder_version=”4.20.0″ _module_preset=”default” header_text_color=”#546A7B” text_orientation=”center” global_colors_info=”{}”]

    Finally – Export your data from LinkedIn so that you can keep your connections organized. There are interesting tools like LeadDelta that allow you to make notes about your connections and tag them.

    [/et_pb_blurb][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.20.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_cta title=”Let’s Connect on LinkedIn” button_url=”https://www.linkedin.com/in/ryan-oneil-knight-6534b134/” url_new_window=”on” button_text=”Get Connected!” _builder_version=”4.20.0″ _module_preset=”default” background_color=”#03A7F0″ custom_button=”on” button_text_color=”#000000″ button_bg_color=”#FFD733″ button_border_width=”0px” button_icon=”$||divi||400″ global_colors_info=”{}” button_bg_color__hover_enabled=”on|hover” button_bg_color__hover=”#E5F1F9″ button_bg_enable_color__hover=”on”]

    Looking forward to seeing you at the next event and also connecting on Linkedin!

    [/et_pb_cta][/et_pb_column][/et_pb_row][/et_pb_section]