Q: I’m a young, black man who needs advice on investing, money management, etc. I work in counseling, where there is no money, and I am trying to develop a clothing line but I don’t have the funds or the know-how.
— D. Jackson, Montgomery, AL
A: It sounds like you’re trying to do too much. Are you trying to make more money, switch careers, or start a business? If the answer is all of the above, it’s time to reorganize.
First, write down your goals in order of priority. Then set up a timeline to achieve them. What action steps should you take in three, six, or 12 months? Sticking to deadlines is important because it’ll chart a path to success.
Before exiting the counseling field, investigate the requirements and salaries of higher positions in your field. It’s not always necessary to switch careers, which will likely take longer, putting you farther away from the goal. If you need money management information, continue to read BLACK ENTERPRISE, specifically the Moneywise and Declaration of Financial Empowerment sections, which speak to personal finance and investing concerns. Also, call 877-WEALTHY for a free copy of our Wealth Building Kit. As for starting a clothing line, seek out entrepreneurs in the field to find out how they got started and what it took to become successful. Also, begin to develop a network by attending fashion industry events.
In the meantime, envision and complete each goal one at a time. For more tips, read The 7 Habits of Highly Effective People by Stephen R. Covey (Free Press; $15).