The Literate Self March 2022
The Benefits of Small Business Fellowships
By Lanette Jimerson, Ph.D.
If you are like me, you are a pessimist when it comes to announcements of small business fellowships and grants. Why go through all of the work to complete an application and become 1 out of too many folks? I understand the lack of hope. However, last December I told myself to have a little more faith and apply to a local fellowship for BIPOC small business owners.
I must admit that the focus on BIPOC made me even more weary than normal as the uptick in “good-will” measures often means being a “public award” for organizations and corporations that may not have a foundational desire to truly support BIPOC owners. Nonetheless on a cold December night I joined an information session for the Matchbox Spark Fellowship. It was held virtually and as expected the facilitator of the program was a non-BIPOC female. I quickly reminded myself to stay open to the opportunity. The session was quick—less than an hour.
After two weeks of pondering the doable 4 question application, finally, as a New Year’s gift to myself I submitted the application. The initial deadline to announce who had been selected came and went. My gut reaction was to forget I had even applied—why email the facilitator of the program just to get some depersonalized response? Yet in 2022 I had made a promise to stay present in this journey of working for myself full time. So, I emailed the facilitator Julianna. Julianna replied within the hour and assured me they were still considering the applications. She also asked a follow-up question about my business. I felt both confidence and dread. Confidence because I had spent every day of December fine-tuning my business model and services. Dread because the follow up question was worded in a way that suggested the reviewers didn’t see the value in my business—helping adults improve their writing skills. I took a deep breath and responded. Before hitting send I re-read the response to ensure that my dread did not seep into the email.
Another two weeks passed. It was February 14th and as a love gift to myself, I emailed Julianna again. Three hours later Julianna emailed to say I had been accepted into the program. We would have our first meeting at the Matchbox the very next week. I must say I was elated!
The following Monday evening we met. There were 8 fellows. Many of them in the same transitional space as myself—seeking to move their business from a side hustle to a full-time endeavor. The next day I used my free access to Matchbox to take a meeting. It just so happened that on this day it was the monthly members’ meet and greet luncheon. I enjoyed my stuffed baked potato and reminded myself to stay present and introduce myself to others.
Just as everyone was leaving the luncheon, I noticed there was a television screen being projected. I asked Julianna why they had a television showing and she mentioned that on the upcoming Friday evening Matchbox was hosting Nickey, an Acceleration fellow, who had landed a spot and possibly a deal on Shark Tank. If you have never watched Shark Tank then the simplest way to describe it is like hitting the proverbial jackpot for a small business owner. Most owners that get a deal go on to make millions.
I couldn’t hide my excitement. I asked Julianna if the screening was it open to all members. She replied that it was a private screening however I could easily blend into the 70 other people who would be in attendance. Maybe she could see my excitement or maybe this was the benefit of the fellowship, either way I took up her invitation. That Friday evening I did something I never anticipated, I took a picture with a person who had pitched on Shark Tank and got a deal. A Black woman whose childhood story mirrors mine in painful ways.
While I don’t know how the yearlong fellowship will unfold in its entirety, I can say that the initial week as a fellow has brought life-changing experiences. If you are a skeptic like me, I encourage you to push through that feeling—to stay present in your vision to build your business-- and seek out a local fellowship. If you are not sure where to start looking, consider the following:
SCORE
Local Chamber of Commerce
Co-working spaces
Your business bank
Associations based on under-represented groups like the Association of Women Business Owners
If you are thinking—okay Lanette but this is just your story—one story. Is it really possible for me? If this is the thought overriding hope then just read the story of Nicole Borders and the impact fellowships have made in growing her business selling poundcakes.