Black Man Black Woman

Tag: entrepreneur

  • Triple Threat – Mother, Wife, Career Woman: What Does it Take?

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    An entrepreneur doesn’t think like everyone else. She is willing to take chances, disciplined enough to focus on a dream and passionate enough to pursue that dream. Towanna Freeman is in that category. AOL Black Voices had the chance to catch up with Towanna, to get some advice on striking out on your own, as well as managing a marriage, children and career, all at the same time.

    1) What is your name and what do you do?

    Have you noticed how so many people seem to be living an unbalanced life or living beneath their full potential? Well, I assist people, particularly women, who are ready to take life changing action to get that sense of balance back along with that greater feeling of fulfillment and happiness. I am also the principal consultant of Towanna Freeman & Associates, a management consulting firm with the primary emphasis on leadership coaching and employee performance improvement; the founder of the Young Women’s Empowerment Network a nonprofit organization that produces empowerment workshops, conferences, and other special events for teen girls; and the author of “Purposeful Action, 7 Steps to Fulfillment.”

    2) You are a successful entrepreneur. What does it take mentally to run your own business, as opposed to the safe route of working for someone else?

    Every entrepreneur has his or her own reasons for wanting to own a business. Some are drawn to the idea of financial and creative freedom, being their own boss, and being in charge of their own financial future. Others make the decision because they are dissatisfied with demanding bosses, office politics, or lack of recognition. Regardless of the reason, successful entrepreneurs share several common characteristics like confidence, determination, organization, self-discipline, and flexibility.

    3) You are a “triple threat” – wife, mother and business woman. What are the challenges that come along with juggling everything in your life?

    With all my successes, there has been a great sacrifice. My most challenging task is not allowing my determination and drive to cause me to spend every waking moment working and juggling the needs of my household. Having a balanced personal and professional life requires separating business demands, activities, and accomplishments from the rest of your life. To ensure that I stay committed to a balanced life, I build in an hour a day to relax and engage in pleasant activities. For example, I will stretch out on my sofa with my favorite magazine. I will put on my headphones and listen to my favorite music. I will eat lunch in the park. Finding a good balance between work and fun will help you meet the challenges of running your business and household.

    4) Why do you work to inspire young girls? Did you have a personal experience that led you to have this passion?

    Mentors have always played an important role in my life – even now as an adult. It was in 1997 when I was alarmed by a series of national and local statistics that showed startling trends surrounding the teen girls of America. The lack of organized youth activities in poor neighborhoods, the increased number of single-parent households, and families with two working parents all reducing the number of adult role models. So, as a response to the community demands for assistance, I founded the Young Women’s Empowerment Network (www.ywen.org) a nonprofit organization established to provide role models, resources, social and emotional help to teen girls. Through our programs and events, we are able to help them realize their full potential to succeed in life.

    5) Do you feel that Black women are respected the way they should be by the rest of America?

    If not, then why? Black women have been a crucial part of America’s history. Thankfully, the lack of respect from America did not hinder the Black woman’s steady progress and determination to achieve success. The Black woman’s history is a story of hope in the face of great obstacles. In my opinion, receiving respect from America is less important than receiving opportunities from America. It is through opportunities to achieve greatness that we create pride, self-worth and true life fulfillment. Today, there is a new generation of Black women that has flourished with remarkable achievements in academia, business, politics, and sports. Women such as Ruth Simmons, Ann Fudge, Condoleezza Rice, and Venus and Serena Williams. As I continue to achieve greatness, the next generation of Black women leaders that I influence is destined to reach higher heights.

    6) What are your plans for the future?

    Helping women and teen girls identify and effectively pursue personal goals to fulfill their lives is what I do – it is my purpose. I see my coaching practice and management consulting firm overwhelmed with success story after success story. And my upcoming book, “Purposeful Action, 7 Steps to Fulfillment,” was written specifically for women to aid them on their journey to living an abundant and purposeful life. Purposeful Action is not about merely making a New Year’s resolution or a vow – it is about setting goals for life and then acting upon them.


    Towanna Freeman is a Life Coach, Management Consultant, Inspirational Speaker, Author, Principal consultant of Towanna Freeman & Associates and founder of the Young Women’s Empowerment Network. For more information, please visit www.TowannaFreeman.com.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Dr Boyce Money: Learning Entrepreneurship from Madam CJ Walker

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    The other day, I caught up with Fenorris Pearson, CEO of Global Consumer Innovations. Fenorris is not only a highly successful entrepreneur, he was also one of the youngest Vice Presidents at Dell Computer and a highly successful speaker in the African American community.

    When asked about the keys to success, he points to a quote by Madam CJ Walker, the first female millionaire in American history.

    Here is what Walker had to say:

    “I am a woman who came from the cotton fields of the South. From there I was promoted to the washtub. From there I was promoted to the cook kitchen. And from there I promoted myself into the business of manufacturing hair goods and preparations….I have built my own factory on my own ground.”

    National Negro Business League Convention, July 1912

    What’s the lesson from Madam Walker’s quote?The lesson from Walker’s experience is that when she thought like a laborer, she earned the wages of a laborer. When she began to think like an owner, that is when she opened the door for true wealth.

    Mr. Pearson spoke this week at the Congressional Black Caucus Event alongside the Honorable Barbara Lee, a Democratic Congresswoman from California. In the seminar, Fenorris uses his experience as an entrepreneur and corporate titan to make the following points:

    1) 95% of all new businesses eventually fail. In order to have a different set of outcomes, you must engage in a different set of activities. In order to ensure that you are not part of the other 95%, you should be fully committed, willing to take a few calculated risks, and do an extraordinary amount of planning in order to make your business succeed. You should also expect the unexpected – you never know what it’s like to run a company until you’ve done it.

    2) Most of these business fail for the following reasons: Lack of access to capital, poor management, expanding too quickly or starting the business for all the wrong reasons. Pearson argues that many of these problems can be avoided if a company engages in proper planning and organizational strategies. One of the things I’ve noticed is that you can’t run a large company the way you once ran a smaller one. Many black entrepreneurs run into challenges as their companies grow, because they have not gotten used to the idea of delegation. Once your business reaches a certain size, you should find ways to share the more trivial tasks with others so you can focus on the more important objectives. A billionaire once said to me, “Running a company is not a matter of what you do, it is what you get others to do that actually matters.”

    3) There are ways to avoid this kind of failure. With his company, Global Consumer Innovations, Inc., Pearson teaches business owners how to avoid the common causes of small business failure. He argues that by using specific steps toward proper product innovation and market delivery, a firm can find itself in a strong position in its chosen market.

    When starting a business, the bottom line is this: The truest path toward wealth creation and social power within the black community is not through politics. The path to power is economic prosperity, combined with a conscientious desire to improve the plight of those around you. True activism is not achieved through charity and personal freedom is not achieved by hoping for it. By thinking like an owner and having a willingness to take intelligent risk, you can achieve your wildest economic dreams.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a prominent black speaker and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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