Black women who call themselves small business owners may be stunting their growth potential in the long run.
Nothing makes me cringe more than hearing a Black woman call her business small or referring to herself as a small business owner. I know why we do it, though. This is learned behavior. Maybe even humility or modesty at work. But that stops TAH-day! Because your BIG business growth depends on it.
The History of Small Business
The Small Business Administration (SBA) was established with the Small Business Act of July 30, 1953. This organization was created as a response to the woes of small business owners during the Great Depression. They could not compete with large enterprises who made bookoo money from funding World War II, so the federal government stepped in and leveled the playing field (sort of). Basically, they created industry classifications and codes that would define and regulate what a small business is in America. For example, retail companies are considered small businesses with 100 to 500 employees, and/or up to $7.5 million in average annual receipts.
The Psychology of Small
By definition, “small” means of a size that is less than normal or usual; insignificant; unimportant. Some synonyms include minor, trifling or trivial. Just reading the meaning of small should make any business owner think twice about this classification. The word small can feel quite limiting and restrictive, psychologically speaking. Couple that with glaringly negative statistics about small business failure rates in America, and it’s a wonder why anyone would want to be associated with such a title.
When I reference stats specific to Black women in business, there is nothing small about the strides and impact were making globally. So let’s vow today to stop playing small and labeling our undertakings anything other than grand and monumental. Now, I am a proponent of cashing in on the perks offered to small businesses, but don’t ever think of your company, organization or brand as trivial or slight. Your existence as a Black woman in business impacts society astronomically.
Thinking Small Vs. Being A Small Business
As previously mentioned, the SBA has defined what they consider a small business within specified industries. And when it comes to access and funding, being a small business on paper has its perks. The point of this article is not to overlook those perks. Get your money! It’s just important that you view your professional ventures as larger than small in order to reach your full potential. Playing within the small business leagues may be your big break as an entrepreneur. What’s most important is distinguishing your abundant mindset from the label of small. You can absolutely thing BIG and still be classified as small by organizations like the SBA. Just don’t let that classification, stifle your global aspirations.
In a nutshell, here are a few quick reminders and takeaways.
Remove the phrase small business owner from your elevator pitch. Simply call yourself a business owner or entrepreneur. Don’t cap your growth potential with poor speech habits.
Avoid the tendency to shrink in business (and in general). Western society at large has tried its darndest to silence Black women in a plethora of ways. In order to protect and defend ourselves, many of us have conformed to spaces, roles and labels that constrict and stifle our natural grandeur. Don’t conform or shrink. Stand out boldly in a BIG fashion!
Surround yourself with people who encourage your business. There’s nothing worse than being around fearful and small-minded people. Not because they’re bad people. But because they project their fears and limited belief towards those brave enough to try anything outside the ramifications of their safe, set boundaries. In business, especially, make sure you immerse yourself in conversations, relationships, mentorships, etc. that encourage your extraordinary ideals about what is truly possible.
Go for it! Really just do the damn thing. Play BIG (even in small business) and see what happens. You may be pleasantly surprised what you find on the other side of eradicating small from your mindset.
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