Parents in the African American community regularly push education on their children, which is a good thing. One aspect of this education that is generally overlooked is financial literacy. For Antonio McCoy, he aims to impart as much financial wisdom to his clients as possible.
McCoy is a growing business strategist and executive coach from Winston-Salem. He has extensive marketing experience spanning over two decades.
“I did voice for radio and TV commercials and sold direct mail for the Postal Service for almost 21 years, so marketing is something I’ve always had an affinity for,” McCoy said. “When I worked in the Postal Service I had clients and they knew I could talk to them about all aspects of their marketing mix and back then social media was not as prevalent as it is today.
“I’ve had people wanting to pay me after I’ve helped them set up their marketing and then, of course, take care of their direct mail. I didn’t know anything about the board and once I realized people were willing to pay for it I decided it was something I wanted to pursue.
“I actually worked in a coaching company for about five months and it didn’t work out, so I went on my own in 2012. I left the job in August 2012 and that’s when where I started MC Howard Business Coaching. “
McCoy was confident he was moving away from the Postal Service as he had his 401k to lean on after he left. He recommends that everyone take advantage, if possible, of their employer’s pension plans.
“What I did was use my 401k, and for the postal service it’s called DSP, to fund me until I’m profitable,” he said. “So it saved me time.”
Over the past nine years, McCoy’s business has grown in leaps and bounds. He has grown to the point where he has separated himself from other business growth coaches.
“I kind of focused on helping businesses grow, in terms of marketing in a lot of cases, and of course as I grew up from an educational standpoint, I ‘ve really started looking at business growth from a financial perspective because there is a risk in marketing and there is also a cost, ”he said. “When I started looking at it from a financial perspective, it really helped me grow.
“I was certified as an executive coach in 2013 because that’s when I started doing my doctorate. So, I kind of went from doing so many businesses now, to really coaching a lot of executives. I also coached directors and people from the central office.
McCoy says it’s very rewarding for him to be this beacon of guiding people on the right path to building or building their business. “It’s very gratifying to see the light bulb light up for people,” he said. “As a coach, and I’m a master coach, so I can certify that people become coaches, and one of the things that coaching does is help your clients understand for themselves. This is not to give you advice.
“A lot of times they don’t have that type of individual in their life, so having someone who is 100% committed to their success is something they always want. In many cases, they find themselves in a position they don’t want to have to live without.
McCoy has seen it all when it comes to marketing for a business. He has seen the good and the bad when it comes to making decisions made by business owners.
“They don’t understand the fundamentals of marketing, they don’t understand the fundamentals of finance, and they don’t understand the fundamentals of the self,” McCoy said of mistakes made by business owners. “The biggest thing that I have to overcome now with business owners is that they understand that social media is not the silver bullet.
“Just because you’re running an ad on Facebook, advertising on Instagram, or making a video doesn’t mean that someone is going to buy your product or service. It will always be a sales process where you have to convince them that either you can do whatever you said you can do, or your product can do whatever you said it could do, and you may have to. be taking the risk.
One of the issues McCoy aims to solve with his business is financial literacy for African American business owners. He says it’s not that blacks are totally lacking in the region, but quite often they lack the in-depth knowledge of other ethnicities.
“Things, when it comes to personal finance, there are subtleties to that, but when you start talking about corporate finance it gets really complex, because there are so many variables that have to come into play.” , did he declare. “Running your home is a business and most people don’t approach it like a business in that you have to do everything you can to keep your costs as low as possible.
“A lot of us don’t approach it that way. Everyone likes to look at the higher number in their financial statement or income, but the higher number feeds your ego, but the bottom line is what feeds your family and that is what matters.
Ideally, McCoy recommends that every entrepreneur get a business coach before launching their brand to grasp the necessary concepts and give their business the best chance for success.
“I would say you would probably want to have a coach up front to figure out the dos and don’ts before you spend the money,” he said. “If you’re spending money, the first thing you need to do if you’re considering starting a business is invest in yourself. A business growth coach will help you broaden your knowledge.
“I’m not going to say any coach will do, I’m just going to be honest. You have to do your due diligence like anything else. All a business growth coach will do for you is to help you recognize things that you haven’t thought of. For example, the most important thing I see business owners screwing up or neglecting is their price, as the cheapest way to grow and how you should pursue this.
McCoy preaches patience when starting out as a new entrepreneur. He says the profits may not come right away, but if you have a viable business and a model for that business, the profits will eventually come if they are marketed the right way.
“Just because you’ve made some money, don’t go out here to buy a car or buy a boat,” he said. “When I started my voiceover business, if I wanted to upgrade my equipment, I ate peanut butter sandwiches every day for lunch for a month. I counted what I spent a month eating lunch at, so I ate peanut butter sandwiches and saved my money to buy a speech processor to sound like the greats.
“Of course, if you make a sale, celebrate, but sacrifice. You can’t go out with your friends, have dinner. You have to invest so much of your money early on in your business. And I’ll be honest, a business growth coach. “Business is one of them. A business only ends when it runs out of money. As long as you have cash, you’re in business.”
Another common mistake many new entrepreneurs make, according to McCoy, is not keeping track of who made a purchase or ordered services from them. He says when cash is low the best thing to do is to reach out to those who know about your product or service and offer them some sort of discount. He says they are more likely to use your product or service again because you are a known commodity to them.
“Most business owners don’t know their database is their most valuable asset,” he continued.
To contact McCoy for more information on his services, please visit www.growthstartup.com or text him at 336-575-9920.