Lesson 71: Failure

Failure is a natural part of developing a new skill. When I was 15, I unwrapped a new set of hair clippers for Christmas and the first time I tried to cut my hair, I messed up my hairline. Despite the temptation to return to my barber, I learned to correct my mistakes thereby developing a skill I still use today. 

Given my passion for skill development, I am interested in acquiring a business that provides specialized vocational training. Having grown up in a house with Black women, hair care was an integral part of my childhood. In fact, both my mom and my aunt finished cosmetology school. These roots in Black hair care inspired me to look into acquiring a school of cosmetology, where we would not only offer training in hair care but also embrace failure as a natural step in growth.

Part of the value proposition we would offer is an Entrepreneurship Track, where scholars learn to respond to and embrace failure as they prepare to launch a business. Scholars would take courses, such as Crisis Management, Root-Cause Analysis, and Adaptability & Problem-Solving. Additionally, they would learn Personal Finance, Business Insurance Essentials, and Managerial Accounting. Reflection on mistakes and issues inspires innovation. Learning how to style hair will empower you to work in the industry, but these skills combined with business basics will empower you to own a business.

My personal experience with the rising cost of hair care is echoed by broader industry trends, especially within the Black hair care market. In “Spending More, While Settling for Less: The Black Hair Dilemma,” Misky Jimba and Gabby Hall discuss the rising cost of hair care, specifically for Black women: “African American women spend the most on hair care each month, with 21% allocating over a quarter of their monthly budget to hair care.” When Black women spend this much on hair care, specialized vocational training combined with entrepreneurial tools provides a path toward business ownership and economic empowerment within their communities. They could use their personal connection and deep roots in the industry to excel as business owners.

My vision is to leverage my influence as a Black business leader to pursue economic justice. Entrepreneurship Through Acquisition offers a chance to address the racial wealth gap. This involves fostering entrepreneurship and economic justice within local communities, where students embrace failure. Failure functions as a powerful feedback mechanism. Entrepreneurs face failure all the time on their way to building resilient and adaptable businesses. By teaching students to learn valuable lessons from these experiences, we empower them to grow their businesses and turn what might have been a childhood memory into a bright, entrepreneurial future.

This is Lesson 71: Failure. Next week is Lesson 72: Intention.