Top 5 Business Insecurities for BIPOC
What is business? I’ll tell you. It’s getting ready to eat stew cooked by someone who knows your biggest insecurities. They mix anxiety, confusion, splash delayed gratification, and sprinkel in accomplishments to make this unique dish for you. And as youre reading the menu, right next to, “Business Stew,” you read, “at the bottom of the pot you may or may not win a grand prize.” But you order that off the menu without a second thought even though you’ve heard about the ingredients but have never seen the chef make it.
“‘Business Stew,’ please! It sounds great!”
This post talks about the “secret recipe” the chef never reveals. Those insecurities.
Let's talk about the elephant in the room POC business owners - why is it so freaking hard being US in business? Besides the cut-throat competition of being seen, heard, trying to get recognition for your brand, recruit loyal customers, trying to blow your competition away - on top of that we have to struggle with unique emotional baggage. I know you know what I’m talking about - carrying generational struggles and trying to break issues that have plagued our great grandparents.
So because other businesses don’t like to discuss it … let's talk about it, and let me know if you resonate with this too.
Torn with making money and the guilt of having money.
POC, children of immigrants, and those who are flat out broke, you know what im talking about. We have lived through and thrived with the “struggle” life - Going shopping at the Dollar General, 99 Cent store and Big Lots were our jams. We called the local Asian, Mexican, Indian and Arab store home because of its cheap prices - here race was tied together by common strife. And through it all we dreamed of a money-filled life so everyday wasn't a fight. A life where you or your parents didn’t have to scrape by, working until 2am to keep the water running.
As an adult we want to be the heroes for our parents but feel guilty with the idea of making money. Growing up money seemed to be the root of all evil because we didn’t have enough. We know we need it to live but don’t like it at the same time. So what do we do?
We have to cut the strings that attach money to evil so we can thrive in business and feel comfortable charging our worth.
How do we get there?
Therapy, coffee, daily affirmations, or fighting imposter syndrome with both fists and swallowing the, “pit in your stomach,” feeling when you charge more than minimum wage.
We’ve all been there, others struggle to get over it, but it's a learning process.
2. Fear of failing your family
As a BIPOC, your family is your foundation and for many, the reason you want to be something bigger in life. So when you embark on the entrepreneurial journey, forget failing yourself (even though that’s a big fear too), failing your family when you could have taken the “safe” route with a 9-5 is terrifying.
3. Fear of Poverty
This is a scary possibility for many entrepreneurs who need to put money, time, and energy into an idea that may or may not succeed. It's terrifying. This fear hits closer to home for us BIPOC people. Many of us come from generations stuck with poverty and don’t have dad/mom’s money to fall back on if we fail. We want to be the heroes of our lives and for our family. NOt saying all businesses fail but the reality is that most do, and knowing that makes us default to fear #2 - fear of failing your family.
4. Business is inconsistent
Inconsistent with time, money, your free time, results, the list goes on. For most BIPOC inconsistencies in life set off alarm bells in our minds that something is WRONG. Throughout our lives we were always waiting for life to hit us hard . we taught ourselves to prepare for the worst. Some of us even abandon things at the slightest inconsistency because our head pairs it with DESTRUCTION (not to be confused with dating - inconsistencies with that is bad).
5. People in the industry can be predators
I’m going to shout this one from the roof, “PEOPLE IN THE BUSINESS INDUSTRY CAN BE PREDATORS!”
My BIPOC friends, we are no strangers to hard work. We have gone through a lot in our lives and most of us desperately want to make our and our family’s life better. We want our dream to work out so badly we will do whatever it takes to get there and because of this predators in the business industry will sniff out our blood, sweat, and tears and swarm.
I bet a shiny penny at least half of BIPOC entrepreneurs had terrible encounters with a “mentor” who wanted to “help.”
This is scary - sometimes to the point of no return.
Most of us don’t have family or friends in the business world, and can’t fact check if someone is screwing us over or not?
Don’t know if someone is screwing you over or not? Check here. Let me help you sort through the BS.