I had the pleasure to interview, Dr. Michele Hoskins over the phone and she had many jewels to drop on emerging, struggling, and up-leveling black women entrepreneurs. My favorite quote from Dr. Hoskins, CEO of Michele Foods, came towards the end of the call when she answered audience questions. Her advice for an aspiring entrepreneur in the natural hair care retail industry was this: "Don't take advice from a player who hasn't played the game." A piece of advice that many would be entrepreneurs should take to heart when looking for a mentor or guidance when starting their own business.
Who is Michele Hoskins?
Dr. Michele Hoskins, took her secret family recipe for a honey creme syrup to over 10,000 retail food chains nationwide including Kroger, Publix, and Bi-Lo. A single mother from Chicago, IL in the 1980's, Dr. Hoskins decided then that she would not just pass down a recipe but a business that her three daughters would find much more beneficial. After being in business for over 30 years, she has had the distinction of holding one of the largest minority contracts awarded by Flagstar (Denny's & Church's Chicken) amounting in over $3 million dollars in annual sales. She has also entered Walmart, authored 2 books, and is a public speaker.
5 Takeaways from Dr.Hoskins RichSista.com Interview:
"Anything the mind can conceive you can achieve through hard work, perseverance, and faith."
"Work on your perfection. Behind the finish line is a whole lot of hard work. You have to elevate to a certain level where an Oprah will seek you out, and what you've been trying to do, must have already happened."
"Your dream is obtainable. Expect it to happen. Write your own script. Write what you want at the beginning of the day. I expect to have a prosperous day. I expect to have positive conversations. I expect to have great sales. Expect it for you."
"You do not need money to start a business. You need a business to make money. I started my business with honey, creme, and butter."
"The key to wealth is to make money while you sleep. Have your passion develop into something that's going to make money while you're sleeping. And have 5 streams of income."