Woman-owned businesses are growing twice as fast as all businesses across the country – and Black women are leading the charge.
In this modern business boom, Black women account for 42% of new women-owned businesses—three times their share of the female population—and 36% of all Black-owned employer businesses.
Many female entrepreneurs begin their journey outside of normal working hours: Balancing career and family while building a business is not always easy, but it can be done. In this series, we highlight women who have successfully found a way to create an additional revenue stream, and explore the steps it took for them to harness their inner hustle.
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Side Hustle: Masterpiece Desserts
A wife, mother and full-time career woman, Dr. Winsome Brooks understands the value of seizing the moment. She and her husband, Kenneth Brooks, head Masterpiece Desserts, a Texas-based mobile eatery that caters to the sweet-tooth of its growing clientele.
Many aspiring entrepreneurs spend precious time, sometimes years, dreaming of making their business a reality. And while developing a business plan is a critical first step, Brooks encourages those hoping to build something of their own to take action.
“Don’t wait to start your own business,” she said. “Your idea could be the creation the world is missing.”
It is also important to appreciate small milestones that come along the way.
Before owning a food truck, Masterpiece Desserts served patrons from a tent at Rosehill Beer Garden and later purchased their mobile station from the location’s owner.
In 2020, the couple received a $25,000 award as part of the Discover “Eat it Forward” program. The initiative gave a total of $5 million to Black-owned restaurants. Earlier this year, Masterpiece Desserts received an additional financial boost, courtesy of the T-Mobile “My Black Biz” contest, in which they won $1,000 Cash and $1,500 in Digital Advertising.
Investing in your business is key, but as The Brooks have shown, it can also be beneficial to find companies with an invested interest in supporting support Black entrepreneurs.
“Pursue your passion, become an expert in your field, and commit to your vision, are three important values of entrepreneurship.” Brooks said. “The more you honor these principles, the greater the potential award.”
STEPS TO STARTING YOUR BUSINESS
Dr. Brooks and her husband started with passion: And carefully began taking steps toward becoming business owners. And while every journey is different, these 13 time-tested steps can be a useful tool toward successfully building a business of your own.
- Find a business idea
- Choose a business name
- Validate your product idea
- Write your business plan
- Get your finances in order
- Develop your product or service
- Pick a business structure
- Research licenses and government regulations
- Select your tools
- Find a business location
- Plan workload and team size
- Launch your business
- Look for financial opportunies to support your business growth
Side Hustles For Women: Best Tips For Starting Your Own Business was originally published on wzakcleveland.com