This article from Entrepreneur highlights the unique challenges faced by Black women entrepreneurs and offers three key strategies for success. It emphasizes the importance of bringing one’s own perspective and authenticity to drive change, advocating for diversity and oneself, and staying informed and committed to making a difference in underrepresented communities. The article underscores the significance of resilience, a clear vision, and unwavering commitment in achieving success and positively impacting the world as a Black woman entrepreneur.
The COVID pandemic has worsened existing challenges for Asian American, Native Hawaiian, and Pacific Islander (AAPI) women entrepreneurs. Many AAPI-owned businesses have been hit hard, especially in industries heavily affected by the pandemic.
Language barriers and a lack of banking relationships have limited their access to loans and capital. AAPI women face a wage gap and have shouldered increased caregiving responsibilities. Despite these obstacles, AAPI women entrepreneurs remain resilient and determined to overcome the challenges they face. See this April 2023 post from CNBC to read more.
This article in Entrepreneur offers five practical ways to support women-owned businesses. These include shopping at women-owned businesses to support owners, employees, and the local economy; spreading the word about these businesses through social media and personal networks; attending events organized by women-owned businesses to show support and foster community; writing positive reviews to boost visibility and influence potential customers; and partnering with women-owned businesses to collaborate and mutually benefit. These actions can bring about significant changes in behavior and contribute to empowering women entrepreneurs while promoting economic growth and diversity in the marketplace.
Monique Rodriguez, self-made millionaire and founder of Mielle Organics, founded her natural hair care brand in the wake of losing her son at eight months of pregnancy. She decided to leave her career as a nurse and pour her energy into her startup which would also enable her to cope with her post-partum depression. That creative outlet that helped her get through the trauma of losing her son has become a multimillion-dollar brand sold in over 100,000 stores across the U.S.
Rodriquez mentions that the best career advice she’s ever received came from her husband who said, “Success, if not owned, is rented — and rent is due everyday. Don’t get complacent, don’t get comfortable, and never feel like you ‘made it.’ Because when you get to that place, there’s always someone trying to take your spot. You have to continue working and striving as if you know [your spot] is not guaranteed.” To read more about Rodriguez’s journey, check out this piece on CNBC.
Often in industries that are more creative, there is an expectation that you need to offer time and labor for free or for deeply discounted rates to get work…or “exposure”. In addition, there’s also the problem of the “brown discount,” which refers to a common workplace issue of people of color being asked to provide the “vastness and value” of their experiences, but without fair compensation or resources. But as journalist Juleyka Lantigua-Williams shares, “exposure” doesn’t pay the rent or the grocery bill. This episode from NPR’s Life Kit discusses some of these challenges in greater detail and shares strategies to ensure you are being paid what you are worth!
In this post on Nasdaq.com, site contributor Gesche Haas spoke with nine women from the Dreamers & Doers collective to learn more about their experiences as business leaders of Latina descent and the challenges and successes that they have encountered. Each woman has a unique backstory and fabulous advice – click the link to read the piece on nasdaq.com
This piece in Inc. is a conversation with We Are Rosie‘s CEO Stephanie Nadi Olson. She shares how the challenges of trying to juggle a family and the demands of a high powered corporate job – and then a startup job – led her to launch her own business focused on finding “good work for everyone who needs it in a way that aligns with their life and treats them with dignity and respect”. Her company now has over 15,000 contractors in the marketing and advertising space – whose contracts are capped at 40 hours per week. She states, “For culture to be truly compassionate, it cannot be prescriptive. Leadership decisions cannot happen in a vacuum.” Click the link above to read more about this incredible leader.
Togethxr is a media brand that is tied to four legendary athletes from a diverse cross-section of sports. Cofounder and chief content officer Jessica Robertson says that Togethxr has a culture that recognizes that women’s sports is “ground zero for every single -ism that’s in culture – which means this is a brand that is going to touch issues of race, gender, sexuality, human rights, voting rights, and so much more.” Check out this article in Fast Company to learn more about this up and coming brand!
Melissa Bradley is the cofounder of Ureeka, a community where entrepreneurs can gain access to the expertise needed to grow their business. Ureeka’s mission is to democratize economic opportunity by enabling community and reducing the cost and risk associated with transitioning from a small to medium business. Bradley is also the founder and Managing Partner of 1863 Ventures and cofounder and Managing Partner of Sidecar Social Finance. In this video, Forbes‘ Maneet Ahuja sits down with Melissa Bradley and discusses access to capital, managing a business during a recession and the overhype of venture capital.
This recent piece in Inc. shares three tips for overcoming some of the biggest challenges women of color face in entrepreneurship. These tips include the importance of getting your finances in order so you can establish good credit, looking after your mental health and developing a success-oriented mindset. Check out the link to read the full piece.