4 tips...for black entrepreneurs (others can read, too).

it's really hard to build a business from scratch. period. anyone who tells you otherwise is leading you astray, either out of ignorance or malintent. i'm learning the hard way what it takes do this right, and I've got a long way to go, no doubt.

here are 4 things i wish somebody told me, point-blank, before i left my job to build my first company several years ago.

1. know your cover. your day job is your "cover." it's what you do to feed yourself and your family, but it's not you. you are much bigger. use your day job, and don't let it use you. be very clear about what it is you want to learn and gain in your role. the moment you've crossed that critical threshold, you have to have the faith and confidence in yourself to move on to what's next. that might be your own venture, a promotion, or a new job that helps you further establish and grow your personal/professional tool kit. don't be stagnant. time is the most durable and important asset you have. you don't get it back, so don't waste a minute of it. remember, know your cover, but don't BE your cover. BE yourself, and use your job to learn things that make you a better [FILL IN THE BLANK].

2. identify an unfair advantage and pursue it to its logical end. here's the real deal, lest anyone try to convince you otherwise. the business world is ruthlessly competitive. the businesses that rise above the rest discover, or are gifted, some unfair advantage. sometimes that takes the form of exclusive and/or early access to information, and other times, it's a regulatory or political carveout or concession that makes it easier for your company to operate against competitors in a highly-regulated space. the bottom line is that these unfair advantages exist, and they create space between the "winners" and "losers" in all markets. that's the dirty little secret. capitalist markets are not necessarily meritocracies, and it hurts all of us to perpetuate that lie. there is incredible LUCK and inequitable distribution of resources and opportunity. point blank. if you want to play and win in the system the way it's currently designed. in so much as it jives with your personal ethics, you'll need to find some unfair (exclusive) advantage to leverage to help separate yourself and your company from the pack. look carefully, as oftentimes the unfair advantage is closer to home than you realize. look inwards first.

3. find product-market fit first. try not to fall in love with the idea of running a business. that gets old really quickly. fall in love with people first. from there, understand and obsess over the problems and challenges they face. then, use your intellect, creativity and methodical problem-solving skills, to solve their issues. and then, turn those solutions in to a product (or several products). start small and close to home. Rome wasn't built in a day. go deep, not wide (there's time for that in the future). start where you are, and prove: (1) the adverse impact and cost of the problem your solving, (2) that your solution solves that problem for people, and (3) that your solution can be applied to the many people that experience the problem in question. this is product-market-fit. every great product and company is built from this formula. period. be patient and faithful to this framework, and try to fall in love with the process. that's where you'll find joy. the destination can be nice too, but you can't count on that. you can always count on the journey.

4. focus on distribution. hard work or "hustle" is a necessary ingredient in the entrepreneurial recipe. but hustle alone, will only wear you out and make you bitter at the world when it doesn't work. work SMART. not every company that finds product-market-fit figures out how to reach exit velocity and optimal scale. that takes smart work and creativity. scale is about distribution and execution. distribution means getting your incredible solution into as many hands on earth as possible. that's not easy. execution is about making sure you're delivering what your solution promises, to every single person who uses it. that's not easy. hard work is what it takes to keep going. SMART work is what it takes to make sure you're on the right path. even before you establish product-market-fit, formulate a strategy to access the distribution channels you'll need to get your product into lots of hands/homes/hearts. build trusted relationships with the gatekeepers of these channels. these relationships will open doors when the timing is right. don't overlook this. the moment you establish product-market-fit, you'll be ready to leverage these relationships to turn on the growth engine for your product/company.

term of the day: ego. for a fruitful life, it's something to acknowledge, understand, respect, appreciate, harness and subdue. it's your frenemy.

song of the day: Holy by Justin Beiber (ft. Chance the Rapper). i know, but give it a try. this one is deep. loved the video, too.

also, here's my schedule for the day:

-Executive Team Recruitment Meetings

-Ikoyi Capital Deal Flow Meeting

-Meeting w/ new potential corporate partners

-Personal Reading: The Black Tax: The Cost of Being Black in America

-Seed Investor Meetings

-Technical Development Meetings

-Email Catch-Up

-Family Time