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Some say it begins with a dollar, most say it begins with a dream. Owning your own business can be both profitable and rewarding for any lesbian. It's getting to the profitable part that can be
challenging. According to the Small Business Association, the casualty rate for any startup is 50
percent at the four-year mark. While this statistic can be daunting to some, it doesn't defer most from
embarking on the dream of owning their own business.
There are three main entrepreneurship components that make up a successful business: securing plenty of capital, researching consumer behavior and need, and marketing. If these three main components are not followed to the letter, the business will most likely fail.
For lesbian business owners, some might say that the obstacles of sustaining a successful business are that much harder because of stereotypes and possible discrimination. But according to Christie Karis that isn't the case. Karis is the owner of Focal Business Plans, a business consulting firm that helps business owners develop sound business plans that will produce a sustaining business model and secure their independence.
« In my experience, there is more of an advantage for lesbian business owners, » said Karis. « Because much of the general population is supportive and willing to do business with the LGBT environment. »
Karis suggested that lesbian business owners clarify the market need, create a compelling competitive edge and develop a sound financial plan that will support at least three years of development.
« There are casualties among lesbian business owners for the same reasons as other business owners, » said Karis. « Because of lack of market clarity, capital limitations, etc. »
Aside from the average start-up costs, market research and advertising, lesbian business owners must also compete with stereotypes and prejudice in the heterosexual consumer base. Many businesses that declare themselves as « lesbian owned » face the risk of losing customers by revealing their sexual identity. Some even fear the risk of vandalism. While this can be a deterrent to some, it can be a motivating factor for others who strive to succeed in the face of adversity. Limiting your business to the homosexual market can only be a negative thing because you automatically put restrictions on your consumer base, which will ultimately limit your revenue.
« Serving the LGBT community only is restrictive and personally limiting, » said Karis. « There is a wonderful world out there and it's nice to be a part of everything in it. »
Karis belongs to an LGBT business association that currently has 1,000 active members. In her experience, she has observed that lesbian business owners are more successful than others because they are more resourceful, and have more focus and drive to succeed.
« Maybe the difference is that we are really in touch with who we are and our businesses reflect that, »
added Karis.
The fact remains that thousands of lesbian business have achieved success, and the amount of resources at their disposal can only increase. In an era that increasingly promotes diversity, lesbian business
owners can find numerous resources to help their business thrive.
What lesbian owned and operated comes down to, is basically a matter of pride. It's pride in sexuality, pride in success and pride in the LGBT community as a whole.
This article was written by Lyndsey D'Arcangelo, freelance/creative writer and owner of D'arc Light Creative. Visit her at www.lyndseydarcangelo.com.
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