You need a good product, good customer service. Don't hire buffoons who will make your business look bad. Learn what the red tape is and follow the laws. Too many of our businesses are being lost because of stupid mistakes like screwing up paperwork, fraud, etc. Surround yourself with people who know what they're talking about and people who have actually started businesses. If you don't know accounting, learn all you can about it and hire someone who knows accounting.
Many blacks have credit issues and since they do it's extremely difficult to secure loans to start a business. Keep your credit clean, if you don't it'll be that much harder to start a business.