Cautionary Tales from Total Bosses

The post Cautionary Tales from Total Bosses appeared first on The Founding Moms.

Another good one by our dear friend Eleanor Hecks — founder and managing editor of Designerly Magazine. The Founding Moms is a community for mom entrepreneurs. We share a wonderful – yet hectic – life full of goals & dreams. We know we thrive better together. We’re a community of learners and motivators. And we want you! Check out TFM for free.

It’s no secret that women run into unique challenges when in business. This can make our path to success seem longer or more complicated than what others have experienced. Luckily, women can learn from other boss women by listening to their cautionary tales. 

Because when it comes to empowering others, we’re ready to share our journey to help each other become powerhouses — whether it’s achieving CEO status or starting a new business.

Below are cautionary tales you can learn from no matter where you’re at in your journey.

1. Setting Realistic Goals

When Jessica Herrin, CEO of Stella & Dot and co-founder of WeddingChannel.com, started her first business, she drew a dream list, including having a corporate office with a nanny on staff.

“I was young and dumb (and single),” she says. However, she learned the hard way in the beginning — “It turns out that if you’re the CEO of a company, you don’t get paid enough to pay for your own personal assistant.”

But Herrin learned from this experience and has consistently built her businesses around achievable and meaningful goals.

In fact, today, she finds herself in the position where most people dream about being — she’s reached all those milestones on her original list — including being able to afford all kinds of luxuries. 

Even though she continues to set new, attainable goals in her career, they’re not so big that it seems out of this world- they’re just large enough to push her harder than anything else.

2. Take Precautions About Who You Do Business With

Traeshonna “Shonna” Graham, known to some as “Grant Bae,” swindled over a hundred minority-owned businesses. She took her name for granted when she used fraudulent loans to start her grant writing services.

Graham targeted small minority-owned businesses, guaranteeing thousands of dollars if they paid her up-front to write grants and offer consulting services. 

Through platforms such as Facebook, Instagram and Clubhouse, Grant Bae was marketing itself as an expert in securing grant money for minority business owners. Graham even claimed to have eight years under her belt, while in reality, she had little to no experience in this field. 

Many business owners need some amount of money to start their businesses. Some estimate it takes approximately $3,000 to start a business.

Graham took advantage by convincing them to fork over thousands of dollars, promising $25,000 of grant money in return.

Be careful about who you do business with, as there are plenty of scammers online. Always do your research, and check with the Better Business Bureau to look for complaints.

Con artists typically try to mislead people with claims that are too good to be true.

3. Taking Care of Business With Kids

Rachel Blumenthal, the co-founder of Cricket’s Circle and Rockets of Awesome, says people often react in a negative way when they see her with her three young children at business events.

“The moment you arrive as a parent, people will assume that your children and nanny are responsible for the mess. As an entrepreneur, I’ve learned to prepare for this scenario. When I attend events or meetings with my kids and nanny in tow, it’s always best to have a contingency plan ready in case there is an issue with cleanup after the meal or activity.”

If someone does ask her about cleanup, she handles it by saying, “Thank you so much for bringing up this concern — as you can see, our children are quite active! We do have a cleaning crew on standby who will take care of any post-event cleanup — they should be arriving shortly.’

This is a situation that can be awkward for any entrepreneurial mother. But it can also be the first step to building a stronger professional relationship. By being honest and upfront about your needs, you’re showing that you’re responsible and capable — and people will respect you for it.

4. Preventing Others’ Actions From Affecting Your Outcomes

When asked about some of the challenges she faced as a female entrepreneur, Amy Nelson, co-founder and CEO of The Riveter, a co-working space for women and supporters of diversity in the workplace, says that taking money from a male investor led to an uncomfortable situation.

“It was an uncomfortable situation,” Nelson says. “I had just signed with this guy, and it was immediately apparent that he was kind of inappropriate with me.”

The main takeaway is to be aware of your surroundings and how you react to them. Secondly, be sure not to let others’ actions affect you or get in the way of doing good work.

5. Not Letting People Trample Over You

Like other women in the working world, Joanna Coles, a chief content officer at Hearst Magazines Digital Media and author of “Love Rules: How to Find a Real Relationship in a Digital World,” has been stuck in meetings where men repeat all the points she already made.

“It’s like they’re speaking for you,” said Coles. “As if we don’t know what we’re talking about.”

The problem often exacerbates when a man is condescending, especially if he thinks he’s telling a woman that she already knows — or worse, telling her how to do her job better because he has more experience than her. “You cannot fall into that trap,” she said.

Embracing Entrepreneurship

Entrepreneurship comes with obstacles, just like it happens in life. But you can overcome them by staying passionate, enjoying the work and maintaining your own integrity. You don’t have to be an expert in what you do as long as you learn from the trials of these inspiring female entrepreneurs.

If you’re hungry for more knowledge, consider joining The Founding Moms membership, where you can connect with mom entrepreneurs like you.

The post Cautionary Tales from Total Bosses appeared first on The Founding Moms.