Dr Boyce Money: What Do Black Female Entrepreneurs Go Through?

It's not easy to be an entrepreneur, but the rewards are high. Owning your own business can be one of the critical keys to wealth-building in the black community, so I want to spend time having conversations on entrepreneurship and how to own your own business. Today, we start talking about black female entrepreneurs and the challenges they face.

Black female entrepreneurs have an even greater set of hurdles than the rest of us, which requires them to be that much sharper, stronger and more effective in their discipline. There is the "old boys" club, which can exclude women, especially women of color. There are hurdles with regard to access to capital and access to key decision makers which makes the job more difficult.

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Before They Were Famous

Before Oprah became the media billionaire we know her as today, she started out at the very bottom of her industry.

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Before They Were Famous

Whoopi Goldberg talks tough now, but she must have really been physically tough to do her old day job.

Stephen Lovekin, Getty Images

Whoopi Goldberg: Bricklayer
From VirginMedia.com: "Believe it or not, Whoopi Goldberg used to work as a bricklayer in the days before she took the comedy and film world by storm. A pretty unlikely job for a would-be performer, and probably a bit of a grind. Thing is, she's such a great actor that even if her heart wasn't in it, we bet she put in a pretty convincing performance!"

That's one way to motivate yourself to grow -- make your day job as back-breaking as possible. Then, climbing towards the top of your chosen profession will seem like a piece of cake by comparison.

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Ironically, the strong-willed Simon Cowell got help at the start of his career as well -- from his dad. How did this big-talking guy use that talent as a young man to get ahead?

Kevin Winter, Getty Images

Simon Cowell: Mail Room Boy
From AOL Music UK: "After leaving school at 16 and being sacked from various 'menial jobs' due to issues with his bosses, Cowell's music industry executive father came to the rescue. He got him a job in the [mail] room at EMI Publishing. From there he plotted his rise divulging to CNN, 'I would just drive everybody crazy when delivering mail. I'd go into the bosses' offices and tell them they should give me a better job.'"

See! That big mouth helped him get from point A to point B, even back then. Now you know -- being a straight talker, if a bit rude, is definitely an asset.

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Before Oprah became the media billionaire we know her as today, she started out at the very bottom of her industry.

Kevin Winter, Getty Images

Oprah: Radio Announcer
Oprah got a lucky and early start to her career. From 2spare.com: "Arriving at a radio station to collect a watch she had won through a promotional contest, a 16-year-old Winfrey read for producers and secured herself a spot as an on-air reporter earning $100 per week."

Who knew that fate could be so kind? It's humbling to know that even super-powerful Ms. Winfrey needed a little help at her start from fortuitous chance.

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Pink spent some time near deep fryers at the start of her career. What was her escape route?

Jon Kopaloff, FilmMagic

Pink: McDonald's Employee
From AOL Music UK: "Bad girl Pink had a novel way to get the party started at work, she has said, 'I'd turn up tripping on acid ... and I would say, "Could I have bathroom duty?" And I would sit in the bathroom and watch the tiles.'"

Clearly this tactic did not totally derail her work ethic, as Pink now enjoys one of the most stable singing careers in the pop industry.

Getty Images / FilmMagic

Halle Berry's beauty was her stepping stone to Oscar gold and international fame.

Bauer-Griffin

Halle Berry: Beauty Queen
Youngmoney.com reports: "This future Oscar winner got her first taste of the spotlight at the Miss Teen All-American Pageant, representing the state of Ohio in 1985. [A different pageant is pictured on left.] The following year, she was the first runner-up in the Miss USA Pageant which was a catalyst for a stint in modeling. It was this that eventually led to her first weekly TV series, 1989's 'Living Dolls.'"

Berry is that rare beauty queen that has been able to take her exposure and build it into something big. At 42 years old, she is still considered one of the sexiest women alive, showing that physical appeal can remain one's most vital business asset.

AP / Bauer-Griffin

Here I speak to successful black female entrepreneur, Deborah Stroman, who gives us insights into how she runs her business. By listening and learning, we can determine what it takes to make that extra money. While she can certainly speak to women about what it takes to become a successful female entrepreneur, everyone should listen to what she has to say.

Dr Boyce Watkins is a Finance Professor at Syracuse University. He does regular commentary in national media, including CNN, MSNBC, BET and more.. To have Dr. Boyce commentary delivered directly to your email, please click here.

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