Today’s world is filled with challenges for minorities and for women. The obvious obstacles like discrimination and bias are just the tip of the iceberg.
Female black business owners have unique difficulties to overcome, some of which are endemic to their communities and demographics, while others are externally imposed by a system designed to benefit a certain class of people.
A main challenge is the fact that many black female entrepreneurs are first generation business owners. Unprecedented opportunities that the modern world has to offer bring unprecedented pressures, which many minority entrepreneurs have not been exposed to on a generational level.
As a result they may feel unprepared for the peculiar requirements of running a business on a scale that is profitable in the modern world.
How can black female entrepreneurs feel empowered instead of unprepared? How can they reach their full potential and bring their inspiration to life in their businesses, and learn how to navigate the complications that are inherent in their position in the business world?
Coaching can easily fill any gaps that women perceive in their adequacy as business owners.
A business coach whose experience is compatible with their situation and goals will be able to step in as a mentor, teacher and friend, informing their responses to surprising situations and helping them see how their generational wisdom does help them succeed–even if at first it doesn’t seem to pertain in any way to business ownership.
What Business Coaches Have to Offer
Many entrepreneurs start out with just a dream and the seed of a plan. They see a need in their community and they find a way to meet it. As the business grows, they find themselves in need of much more strategic thinking–and at this point it is easy to freeze up, unsure what to do or which way to turn.
A business coach will make sure you have the skills needed in order to successfully scale a business, and can also help you troubleshoot and critique the planning you have already done. This kind of feedback is priceless when the business is in its growth stage, which is one of the most exciting and delicate parts of business ownership.
Here are several categories in which a business coach can help a female black entrepreneur to overcome hardships and reach her full potential as a business owner.
Strategy: Planning and Problem-Solving
A business coach–especially one with experience in minority communities–can help greatly with both short-term and long-term planning. From incorporating current trends into the next month’s inventory, to helping formulate an aggressive yet realistic five year plan, a good coach can inform your decisions at every level.
And when a challenge arises that you have never foreseen, trust me–your coach has seen it before and will have ideas on how to overcome.
Developing Yourself: Skills and Accountability
A business coach will have access to your business records. As such, they will have a unique opportunity to help you learn and grow.
Every entrepreneur has certain strengths and weaknesses, and a good business coach will help you maximize the areas where you are already skilled, and build on the areas where you need to improve. If you are struggling to keep accurate accounts, the coach will realize that in a hot minute–and be able to offer you both teaching and tools to help you improve.
They will also be able to recognize patterns like changes in your regular clientele and other signs that you may miss in the day-to-day operation of your business.
It’s never fun to get called out on your weaknesses, but it’s way better for them to be pointed out by a coach than by a dissatisfied customer–or a regulatory authority. Head off these potential problems by hiring a business coach and giving them the reins of your business.
Perspective: A Broader View
Caught up in the day to day work of your business, it’s easy to miss both threats and opportunities that are waiting just ahead.
A business coach will be able to spot trends, both in society and in your business, that could signal either a danger or an opening for greater profit. Having a pair of experienced eyes looking out for you is an invaluable resource to any entrepreneur.
Business Coaching By Black Women, For Black Women
You can find a million business coaches in the world, but to get the full benefit, hire one who has experience with the same challenges and opportunities that lie before you. Choose a business coach who works within communities similar to your own, and you won’t have to wait for their learning curve to catch up to your particular situation.
If you want to build a business and scale it sustainably, their input will be invaluable.
Also Read: Black History Month: A Guide to Creating Presentations for Social Justice Advocacy
