50 Tips on Starting A Small Business (Or Startup) Especially If You’re A Woman or a PoC

 

Hey Guys!

I’ve been going through quite the process launching my company, Langston League, and as I go through the trails and tribulations, I realize that all the information I’m learning could be incredibly helpful to you. Navigating the entrepreneurship world is tough, but it’s oh so much more difficult for women and people of color.

Women are founding companies at a historic rate, with more than 9 million women-owned businesses in the U.S. today. Female-led businesses only make up 30 percent of companies around the world. Entrepreneur-of-color groups experienced significant growth in the number of their firms, in the last five years.

And yet these stats still remain:

For the first two quarters in 2017, startups with a female founder raised $332 million in seed investment, or around 15 percent of all seed funding dollars. 

On the investing side, only 7 percent of senior investing partners at the top 100 venture firms are women.

0.2% of women of color–with tech startups–are funded.

The list goes on…

But it shouldn’t.

I work in a co-working community and I keep late hours. I’ve noticed a trend. When I’m leaving at midnight and when I come in on the weekend, the same people are still here–women and people of color.

Work Ethic = WAKANDA LEVELS.

 

…and yet we’re still asking for a fighting chance. I’ve started a podcast and I’ve decided to start blogging about my journey through the world of entrepreneurship and I’d like to bring you along with me. Let’s start with some basics.

Need my references? K. Woman of color. Check. Owns a small business and startup. Check. All good? Cool.

1) This is not a trend. I repeat–this is not a trend. Just because want CEO or Founder on your profile doesn’t mean it’s for you. Chief. Executive. Officer. You are in charge. You are required to execute. You are required to required to hold authority. You are the machine. Going in….you are every department until you hire folks to delegate to. You are Human Resources, finance, operations, etc…really and truly you see CHIEF EVERYTHING OFFICER. Resilience is key. If that doesn’t sound like something you can handle? This ain’t for you.

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