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Jun 4, 2010 Business: Flying Without A Net — Entrepreneurs Starting Businesses During the Recession

By A. Finney

The five African Americans entrepreneurs featured in this story each started their business for different reasons, such as need resulting from losing a job, or family obligations that required a lot of their time. There is one theme that resonates throughout that drives them to succeed in running their businesses– they love the new-found freedom of being the boss. They love being creative, spontaneous and making their own business decisions. Also, they each seem to understand that it takes time before seeing a profit in their business, but because they are doing what they love, they know the money will follow.

Most of them miss their former co-workers, but at least one entrepreneur actually hired her former co-worker, and now they are working together again. To staff their offices, many are using interns or contract workers until they are able to hire full-time staff. Talking to them gives a sense that it takes a lot of hard work, and that running a business is not for the timid. One must be willing to wear many hats until the business starts to make money. But the good news is, they get to make their own decisions, and they can always change their minds. After all, they are the bosses. They love the flexibility of managing their own time that only business ownership allows. Taking time off from work to attend to their family’s needs without going through several layers of bosses is priceless.

The most practical advice from these entrepreneurs is that if you are employed and want to start a business, you should learn all you can from your current job and boss, and start making your business plans—make contacts, get licenses for the business, and set it up before you are fired. The transition from employee to boss can actually be accomplished the same day. Judging from where some of the businesses are today, these business owners have used that knowledge and experience to jump start their ventures and seem to have been thoroughly prepared to go to the next phase when the job loss occurred.

Although not yet making the salaries they left behind, most agree that by owning their own business, they now have the potential to make as much money as they would like to make. For most, the experience seems to be enjoyable, exciting and challenging all at the same time.

Zanade Mann

Laid off, Zanade Mann now runs her own brand awareness firm called Online and Off Marketing and PR, a boutique firm in New York City.  She says her education is in accounting, but she has worked in customer service, health care and communications. Many of her clients are physicians. For the startup costs, she used her severance pay. She says she loves the freedom to be creative in her business.  For staffing needs, she uses a rolling list of interns and has a marketing manager. Follow Mann on Twitter @ zanade or email zanademann@yahoo.com. Even though it’s kind of rough because she has two daughters to support, when asked if she’s having fun, her response was a resounding, “yes.”

Denise Cooper

Cooper had to leave her job to take care of sickly and elderly parents after raising twin daughters. She was offered a job as Senior Vice President of Human Resources at a local mortgage company, but within six months the market crashed. Cooper said she did not want to do traditional HR work and needed flexibility for her family. Cooper found there was a need for leaders who could create workplaces that generate creative and innovative solutions and customer intimacy, so she started Coach HR LLC. Located in Charlotte, N.C., the firm is dedicated to guiding CEOs and executives to become successful in their jobs.   Cooper says her start-up costs were between $70,000 and $80,000. Although she misses corporate life, she savors the thought of running her own business and the flexibility it affords her. Cooper says there is definitely a potential to make money, and yes, most days are fun. Cooper intends to use contract coaches instead of employees, and says African Americans have to believe we have the strength to do well because in that strength, we will find freedom.

Elizabeth Wilson

Wilson taught entrepreneurship since 1996, but then decided to practice what she was preaching and started Business Consultant, based in Atlanta, Ga. Wilson provides services specializing in training, and among other things, small business plan development. She is also the author of two books. To prepare for her role as business owner, she drew from her experience of training entrepreneurs, and she attended workshops, conferences and seminars. Wilson works with government staff and national community-based organizations. Wilson loves the fact that she is responsible for the results and can now control the quality of the work she delivers. So far, she says she’s on track to recoup her previous salary by the end of the year, and her previous assistant is now working with her again. She hires consultants for various projects and part-time support staff. And yes, she’s having fun. Her one regret is waiting until she left her former employment to start working on her business.

Lynette Suttlar

Suttlar obtained an MBA from Jackson State University and runs her business from home. Located in Benton, Miss., Suttlar started S & S Consulting Company LLC, during the recession to help people who needed answers to questions about their taxes and financial situations. Before starting her business, she worked for H&R Block. Suttlar completed 60 hours of continuing education and attended classes in real estate. She started her business with approximately $500. Suttlar loves the fact that by owning her own business, she now has the potential to be very successful, and she loves the independence and flexibility that she has. She expects to make a profit within two years and plans to hire at least five people. Suttlar cautions that although you will not be an overnight success, you should follow your heart, vision and dreams, and you will fulfill your destiny and make a difference in the world. S & S Consulting can be reached at (601)503‑6610. By the way, she’s having a lot of fun.

Dawn Michelle Hardy

Hardy is the founder of Dream Relations, a PR and literary consulting agency located in Brooklyn, N.Y., which was started during the recession. She has a Bachelor of Science in Marketing International Trade. Hardy’s business, Dream Relations, offers publicity, book tour and promotional services to mainstream and independent authors. Hardy says she was fired ten days before Christmas, and she was devastated. She worked for a small publishing company where she oversaw production and served as a personal assistant to the CEO. While working for the CEO, she learned all she could about the publishing industry, and had hands-on experience in drafting publishing contracts, proofing manuscripts and press coverage. That learning has served her well in her own business. Hardy says her start-up costs were approximately $150, which was used for a business license. Hardy says she now enjoys the freedom and peace of mind she never felt working for someone else, and that now, there is no limit to how much money she can make. But one of the drawbacks is that she has to wear many hats for the business to operate. So far, she has made two-and-a-half times her last salary, which was $42,000. She uses interns in her business and temporary assistants as the workload increases. She feels that being responsible and hardworking gave her a good foundation for her business. Yes, she’s having fun!

A. Finney is a designer and owner of Andrea and Me and Me Too, an eTailer based in the Chicagoland area. They create beautiful designs, and their limited edition, uniquely style handbags, fashion jewelry, and home accents are “must-haves” for all fashionistas.



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