Day In The Life Of Two Feminine Entrepreneurs

Whereas already self-employed, Johana C. Dominguez needed to attach along with her group extra. She opted to get a part-time job at an area nursery, main her to open her small enterprise. Michele Cagan began her firm to have extra management over her time whereas prioritizing her well being and household. Whereas in several industries, each have discovered entrepreneurship as rewarding as it’s difficult.

Cagan and Dominguez characterize a small a part of women-owned companies. In accordance with The 2024 Wells Fargo Affect of Girls-Owned Enterprise Report, women-owned companies characterize 39.1 p.c of all U.S. companies, rising by 13.6 p.c between 2019 and 2023.

And the expansion of small companies within the U.S. exhibits no signal of slowing down. Tons of of 1000’s of individuals begin new companies each month, with the U.S. Census Bureau’s information exhibiting 432,517 enterprise purposes filed in April 2024 alone.

As Might started with Nationwide Small Enterprise Week — and Nationwide Small Enterprise Day is Might 10 — we interviewed Cagan and Dominguez about their companies and a day of their lives to seek out out what it’s wish to run a small enterprise within the U.S.

A day within the lifetime of two entrepreneurs

There are lots of the reason why folks determine to open a small enterprise or enterprise into entrepreneurship. Whereas you’ll find a great deal of data and how-to movies on-line of individuals beginning aspect hustles and companies, it doesn’t at all times mirror the fact of every day life for many small enterprise house owners.

To study extra about what a day within the life is de facto like, we interviewed two entrepreneurs and requested them to share their experiences. Learn on to see what they needed to say about it and what they need others to know, calmly edited for readability and brevity.

Michele Cagan

Michele Cagan is a CPA and the writer of “Beginning A Enterprise 101.” Michele goals to assist ladies develop into financially empowered and really feel safe with their funds. She makes a speciality of private and enterprise funds, together with one-on-one teaching, enterprise help providers and taxes.

Michele started her enterprise as a aspect hustle in 2010, and in 2017, she took it full-time.

How did you develop into an entrepreneur?

I began doing it as a aspect gig and started to develop. Then when my common job acquired downsized I made a decision to go all in. I knew I may assist lots of people, particularly doing it my method.

What impressed you to begin a small enterprise?

I needed to have extra management over my time, the content material I used to be writing, and the purchasers I used to be working with. I needed the flexibleness to be there for my household (I’m a single mother). And, truthfully, I stay with power sickness and needed to prioritize myself and my well being each time I wanted to.

What’s a typical day in your life like?

I often begin working between 9-10 and finish by 3 or 4. I used to work loopy hours, however now construct my work schedule round my life as an alternative of the opposite method round. In a typical week, I spend time instantly interacting with purchasers by way of teaching and help, engaged on their accounting and taxes, and loads of writing (I’m at the moment engaged on a e book known as “Taxes 101”). I do crew check-ins most work days — my workers are all totally distant however we keep linked.

Are there any myths about entrepreneurship that you simply need to debunk?

It’s tougher and generally lonelier than folks assume. It takes loads of time and work to construct a sustainably profitable enterprise. And having a profitable enterprise will NOT prevent cash in taxes!

What recommendation would you give somebody who needs to begin their very own enterprise?

Make a plan earlier than you dive in, as a result of nice concepts don’t at all times result in worthwhile companies. Don’t attempt to do every part your self, get assist the place you want it and for belongings you simply don’t need to do.

What’s one factor you want you knew earlier than beginning a enterprise?

To not underprice my providers. It’s tremendous frequent amongst ladies to undervalue the services they supply. And likewise to not give away my time and expertise totally free (one other frequent factor new ladies enterprise house owners do).

Johanna C. Dominguez

Johanna C. Dominguez owns Put a Plant On It, Inc., in Buffalo, NY. Put a Plant on It’s a full-service houseplant store specializing in uncommon and customary crops. Together with promoting crops, a number of the different providers the store affords embrace repotting, houseplant hospital, inside adorning and moss and plant wall installations. It’s also possible to discover native artists’ work on the market contained in the store.

Johanna started her enterprise on the peak of the COVID-19 pandemic, and the shop will rejoice its fourth anniversary in August.

How did you develop into an entrepreneur?

Form of accidentally! I used to be already working for myself doing nonprofit consulting, social media content material creation, and images. I assumed I wanted to be round folks extra so I began a part-time place at an area nursery. I saved giving options to this nursery and each suggestion was shot down. good friend of mine urged I begin my very own store with my concepts.

What was the inspiration behind beginning your small enterprise?

I actually needed to do one thing that provided so much to my group and one thing that was missing. There was once a plant retailer throughout the road from my location that closed a number of years in the past. Many individuals have are available in and thanked us for all that we deliver to the group. I like being a part of a neighborhood and love serving to folks with points that come up with their crops.

It has actually made me notice the significance of procuring native and the way it differs from huge field shops.

What’s a typical day in your life like?

Retail, particularly a customer support primarily based retail like ours, requires an enormous vary of expertise that I by no means utilized in any of my different jobs. As somebody who has additionally been identified with ADHD for over 30 yrs, I additionally discover that no job matches me higher. Largely it is because no day is similar.

I often get up fairly early and begin replying to emails and social media messages and feedback whereas I sip my espresso. Typically I’ll work on and edit a social media graphic (or) video whereas at residence.

All through the day we water crops and ensure all are wanting their finest. This may occasionally contain leaf-shining them, eradicating lifeless leaves, downpotting or uppotting. Clients are required to make an appointment to be able to make the most of our providers they usually do that instantly on our web site. We now have common purchasers that we service recurrently and we maintain their crops.

There are only a few instances that we’ve downtime. Our inventory is all largely alive and it includes loads of work to verify all of it seems to be their finest. Work doesn’t finish as soon as we shut up although. I don’t anticipate my coworkers to be “on name” after enterprise hours, however I’m. So my evenings are sometimes spent replying to messages and emails that are available in after hours.

What’s a delusion about entrepreneurship you need to debunk?

That being an entrepreneur provides you freedom. Certain it does to some extent nevertheless it isn’t a 9-5. You’re working 24/7. Or at the very least ought to be working across the clock. It’s a must to assume twice about going away or not being accessible to your coworkers by occurring trip or out of cell service.

I’d additionally wish to debunk that each one entrepreneurs are motivated by cash. That could be true for some, however it isn’t true for all.

What recommendation would you give somebody who needs to begin their very own enterprise?

I wish to inform them to consider their enterprise thought and write out a marketing strategy. This was extraordinarily useful once I was beginning my enterprise. I additionally visited and talked with different enterprise house owners within the space that had related companies.

I’d additionally advocate becoming a member of some on-line communities which might be within the area of interest that you simply need to open what you are promoting. I used to be in varied houseplant communities — each native and nationwide and even worldwide. I listened to what others have been on the lookout for and wanting. Listening is essential. I additionally assume I wish to stress the significance of being versatile. You do not need to observe your plan 100%. There’s been loads of issues that we’ve added or not applied from the unique plan.

Key insights about small companies

What’s Nationwide Small Enterprise Week?

For over 60 years, the U.S. Small Enterprise Administration (SBA) and the President of the US have honored small companies within the U.S. by way of Nationwide Small Enterprise Week. The week is devoted to celebrating small companies and their influence on the native and nationwide economic system, the arduous work and resilience it takes to run a small enterprise and the innovation and alter entrepreneurs drive.

Many small enterprise organizations maintain occasions in honor of Nationwide Small Enterprise Week. For instance, the SBA has a Digital Summit that’s free to attend, which incorporates academic webinars, enterprise assets and networking alternatives. Previously, the U.S. Census Bureau and the IRS have additionally supplied further free assets for small enterprise house owners to assist develop and maintain their companies.

There’s additionally an award offered by the SBA and given to small companies in each state, Washington, D.C., Guam and Puerto Rico, highlighting companies, entrepreneurs, lenders, buyers and advisors devoted to impacting native communities and their dedication to small companies.

When is Nationwide Small Enterprise Week?

Historically, Nationwide Small Enterprise Week is held the final week of April. Nationwide Small Enterprise Week 2024 is from April 28 to Might 4.

How you can help small companies

Whereas Nationwide Small Enterprise Week, Nationwide Small Enterprise Day and Small Enterprise Saturday are three designated instances to help small companies, it’s important that small companies obtain help year-round.

American Specific’s Store Small map is a good place to begin if you wish to help small companies regionally. You’ll be able to search by location to seek out small companies in your space. Another choice is to examine your metropolis’s tourism web site or native enterprise associations. Usually, you’ll discover a listing of native companies, together with different useful data associated to your group.

For a wider attain, think about buying from Etsy. Not solely can you discover native companies, however you may as well make purchases from small companies throughout the nation.

By supporting small companies, you’re not solely serving to an entrepreneur succeed, you’re additionally positively impacting your group. Small companies usually tend to give again to their communities, assist create a extra resilient native economic system and drive native job creation.

From 2013 to 2023, small companies have contributed 55 p.c to the whole web job creation, based on the U.S. Bureau of Labor Statistics. American Specific’s 2022 Small Enterprise Financial Affect Examine additionally discovered that 68 cents of each greenback spent at a small enterprise within the U.S. stays in the area people.

Together with supporting the native economic system, SCORE states small companies donate 250 p.c greater than bigger companies to native nonprofits and group causes, with 75 p.c of small companies donating a mean of 6 p.c of their earnings to charity.

Though it may be simpler to buy at big-box shops, procuring small finally impacts extra People. It’s estimated that small companies make up 99.9 p.c of all U.S. companies, and procuring small on-line and in-store can change native and nationwide economies for the higher.