Meet Nita Black | Business Strategist and Drone Innovation

We had the good fortune of connecting with Nita Black and we’ve shared our conversation below.

Hi Nita, can you walk us through the thought-process of starting your business?
I was working at a national bank when I turned 50, had a great job with super benefits, but was looking for something more. As a commercial lender, a small group of us were “asked” to obtain a Series 7 Registered Investment Advisor license so we could offer investment services to our existing and new loan customers. This was exciting but hard and something I had never done before during my 25 years in banking. I was up for it and began selling mutual funds and bonds to high net worth customers. On one of my early sales, I worked with a bond rep at the bank to close a large bond transaction. He told me what my commission should be and I was really excited until I got paid that week. It turned out that because I was a commercial lender who also sold bonds, my commission was 1/5th of the commission normally paid to individuals who just sold bonds. I was unhappy about this and decided to apply for a bond rep job. However, they turned me down basically because my boss would not let me transfer to another department. I guess it was because they had invested time and money into my training in one department and were not willing to let me go. I started thinking – I have half my life left and I’m not done, I want to do more, there’s no time to waste. I subsequently left the bank to start my own firm. My thought process behind starting my own business was to do what I already knew, but on my own terms. I was ready for the challenge but didn’t realize how much I didn’t know about everything it takes to successfully own and operate a business.

Alright, so for those in our community who might not be familiar with your business, can you tell us more?
I guess I am a serial entrepreneur, but maybe in a non-traditional sense. Even when I was in banking for 25+ years, I would always be in search of something new or more fulfilling. This happened every 5 to 7 years, I would get settled into something to accomplish a goal/solve a problem/get something started, and then I would move on to another role to start anew. I’m a starter for sure! When I left banking I ran a coffee shop for 5 years. While I made coffee, I talked to people and helped them work through some of the problems they were having. We exchanged new ideas pretty much every day and some people went on to do something with their ideas. We also had original music at night so there were many fantastic musicians, artists, creatives, who hung out at our coffee shop. If I had a million dollars to burn, I would do it again, lol.

Over the last ten years or so I have been helping businesses and non-profits to develop a business plan, a marketing strategy and set up their quickbooks so they could operate a successful business. Every client is different, but somewhat the same. Most of my clients love what they do but they don’t like talking about money. So I am their accountability partner to help them be profitable and still have fun at what they do.

In the last six months I have focused on my own business growth strategy to integrate drone technology that creates/saves jobs. I know this sounds crazy but drones are emerging just like computers did. They can deliver packages, take photographs, monitor property under construction, save people caught in floods and hurricanes, deter criminals trying to break into cars or buildings. I could go on and on. I want to help people particularly in low-income areas to realize the potential with drones and show them how they can get their drone remote pilot license so they can be a part of the drone tech wave/have more fun/make more money. Drones for good – could be our new motto if someone else has not already grabbed it.

What sets me apart is I am pretty creative with alot of business experience. I have seen alot over the years and history sometimes repeats itself but in new ways. Often I work with clients to help them get unstuck so they can become profitable and sustainable. I am proud of the many small business owners who continue to keep going even when it’s very hard and seems almost impossible to continue.

How I got to where I am today? I’m not afraid to tackle something that no one has done before and I am honest with my clients about the good, the not so good, and what needs to change. So we trust each other and we are friends wanting the same thing…a better life for our families and for everyone. Sometimes it is easy and sometimes it’s not. Mostly I overcome challenges by slowing down, to look for/listen for what God wants me to do next. I have learned that it takes a village to make things work and if you don’t align at first with the right people, God will eventually introduce you or show you what to do next and how to use the knowledge that you have already been gifted. So patience is a key success factor, but combine patience with action.

I want the world to know that each person is equally valued, a life is a life, one no better than another. We should all seek out ways to use our gifts and talents for as long as we can. This is true happiness and we need to pass it on to help each other keep going when it gets tough and celebrate when good happens.

If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
The first day in Memphis we would take my friend’s (and client’s) black history tour of various parts of downtown and south Memphis. The back stories are incredible. We would visit Slavehaven, Beale Street, Stax Museum, Clayborn Temple, and the Loraine Hotel (where Dr. Martin Luther King was shot). One spot to eat lunch is called Westy’s with ribs, tamales, and great burgers. An evening event that night would include tickets to the Memphis Grizzles NBA basketball game played at the FedEx Forum.

The next morning we would have breakfast at The Cupboard on Union where they have pancakes, eggs, sausage, and grits. It is centrally located and near Overton Square where we would visit one of a kind local shops before going to the Theatre that afternoon. That afternoon we would need the Memphis City Council meeting to meet the Mayor and city council members and to hear about new projects that are in the works. That evening we would be back at the FedEx Forum for the University of Memphis Tiger basketball game and then stop by The Peabody’s rooftop party for nightcap.

On the agenda for the next day would be a drive out to Shelby Farms where we would ride horses and canoe, as well as walk or drive through the park and then have lunch. From there we would head to the Germantown Performing Arts Center for an afternoon outdoor music event and then stop by Mulan’s for a late dinner.

The next day we would drive out to tour Elvis Presley’s Graceland Hotel and Museum before having a late lunch back at the Four-Way Restaurant in South Memphis. Near there is the Stax Music Academy where students are performing and we are able to get last minute tickets. These events are often frequented by famous entertainers such as Justin Timberlake and Bruno Mars.

Ending the week we visit the Crosstown Concourse and tour the Church Health Center before having a healthy lunch at Farmburger. The Concourse is an old Sears tower which was renovated and includes all kinds of neat shops, from getting your nails done to fresh produce, to banking, to theatre, to just chilling out in the magnificent lobby space with all sorts of places to work or meet with clients. We end the day at Folks Folly, a steak place in east Memphis, known as the best steak place in town.

Who else deserves some credit and recognition?
My shoutout is to my family. I am the oldest of 5 kids, my dad was a general surgeon who made house calls way back when. My mom made our clothes, cooked our meals, made us clean up the house, take out the garbage, plus she worked in dad’s office mailing out bills, making bank deposits, cleaning, listening to patients, and ordering supplies.

I continue to learn so much from each person in our family. My brother is the oldest boy and is a financial advisor. He likes to win and is very competitive. He’s pretty good at making a sale in a professional way, plus his heart is huge. My sister is patient, kind, and organized, always proposing a solution rather than pointing out the problem. My middle brother Jim is pretty much like my dad, very soft spoken, a gentle laugh, and handy with tools. My youngest brother is a bond daddy professionally and kinda spoiled but in a good way. The mix of our personalities has helped me balance out so many aspects of running a business. Although we don’t always agree we love each other and stand by each other.

Top of mind at this moment is a special shoutout to my daughters who are my rock and keep me straight when I want to wander off into a direction that doesn’t make sense. They at least try to advise me, lol.

Website: thedronecompany.com and nitablack.com

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