" Sometimes friends and business just don't make dollars or cents"
Passionate about entrepreneurship and business, Necole Gibbs is currently the CEO of Corporate Chics Enterprises. Operating as a full boutique consulting company, Corporate Chics Enterprises manages projects for businesses and brands. Working with niche markets and authentic entrepreneurs and business owners, providing results, exposure, and driven effective communications is the ultimate goal and objective of the company. Dynamic and highly motivated with an extensive sales background, Necole is a results-driven consultant with excellent written and verbal communication skills who has a proven track record of success.
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Table of Contents
Thank you for joining us today. Please introduce yourself to our readers. They want to know you, some of the background story to bring some context to your interview.
Necole Gibbs: Hello! Thank you for allowing me to share. I am Tawana Necole owner and CEO of Corporate Chics Enterprises. Hailing from Wadmalaw Island, Charleston SC, my dialect on a bad day definitely involves some island twang called “Gullah Geechie.” Initially working in Corporate America for many years, I was on track to become a VP or Director but when I realized that the same skills I brought in my current role, I could utilize for me in my own business, I began pursuing that option. Never conforming to the politics of Corporate America, I knew I needed to make a change when I became pregnant with my son back in 2008. It became too challenging being a mom, wife, and worker.
With the many responsibilities women hold, I just couldn’t hang. Actually, being wrongfully terminated from my role at the time while the company was undergoing restructuring their departments, I made a decision to never be placed in a situation where my destiny wasn’t in my own hands. After divorcing my ex-husband, I was forced back into the work world temporarily but this is when I learned the essentials of Sales. Gaining the epitome of customer service from Nordstrom and sales guru tactics from State Farm, I left the workforce indefinitely in 2018.
You are a successful entrepreneur, so we’d like your view point, do you believe entrepreneurs are born or made? Explain.
Necole Gibbs: Entrepreneurs are made. We all have the capability to be entrepreneurs because all individuals possess unique talents, strengths, and skills. However, it takes ethics, integrity, and discipline to run a successful business. There were habits I had to discard in order for my business to grow. There are certain practices that I was forced to implement in my life if I wanted to produce results not only for my business but for the businesses that I decided to help or partner with. There were many disciplines that came with being a fruitful business. Although we all have the capability to become entrepreneurs, most don’t have the tenacity or consistent behaviors that align with building relationships. Most won’t trust the process of entrepreneurship and many won’t make it to Year 2 Quarter 1. BUT… anyone (and that includes everyone) that has a passion or a unique twist on the gifts/talents given to them before they were born, you are an entrepreneur.
We are programmed to believe that we go to college, get a job, make a family, buy a home, and live happily ever after. What we are not told is that college degrees are just as expensive as a Benz, Beemer, or any luxury car you may admire if you don’t already drive one. To take that a step further, if you went to college didn’t you go to better yourself? Didn’t you go so you could afford a GREAT paying job – to purchase the best or anything you want? I don’t have anything against investing in education but at the age of 25, the average American is in debt just from student loans. Starting out $40,000-$100,000 in the hole isn’t how you should start life. Let’s say college wasn’t your thing and you decided to jump right into the workforce. No matter how you show up to your job, you are replaceable and your salary is capped. Your life shouldn’t be this way and in leading this new generation, I am telling you to create your own destiny. Make your own path. There are many self-taught entrepreneurs. The library has free books. The Internet has information to Infinity. Anything worth having requires an investment. But, my friend, the investment doesn’t have to always be money. Time is the best thing you can invest when trying to achieve anything. Taking the time to understand, research, plan, coordinate, organize, and execute is essential in understanding the Entrepreneurship journey.
Because I know we all are blessed with something that we can do really well without the help of education or practice, this fact makes everyone an entrepreneur. I don’t believe that the World was created for there to be “managers and employees.” The simple concept of supply and demand has turned into people having to commit to making a living based on someone else’s terms. If I have something you want, you pay me for it. It should be that simple. Of course, I don’t know how this concept turned into you working for me or me working for you. But we are supposed to work together. We, meaning you and me and anyone else who has a product or service that I may need to operate my business.
Big businesses were once medium businesses and medium businesses were once small businesses and that small business started with one person: An Entrepreneur.
If you were asked to describe yourself as an entrepreneur in a few words, what would you say?
Necole Gibbs: Courageous, Optimistic, Relatable, Purposed, Open-minded, Risk Taker, Artistic, Teachable, Empowering, Charismatic, Hopeful, Inspirational, Cautious.
Tell us about what your company does and how did it change over the years?
Necole Gibbs: Corporate Chics Enterprises offers a wide range of consulting services to serve a variety of businesses and clients. Operating as a professional consulting company that focuses on enhancing, promoting, and developing businesses, we connect the dots and deliver results. Whether you’re a small, local business or a multi-national corporation, we help businesses reach new levels of success.
Over the years, the company has evolved. Initially helping businesses with all things start-up, we grew into a communications agency with a focus on exposure and marketing opportunities. We also have a writing division for new and upcoming authors. Coined by one of our business partners as “The Olivia Pope” of writing, we love what we do and offer an array of services to help businesses reach their potential.
Thank you for all that. Now for the main focus of this interview. With close to 11.000 new businesses registered daily in the US, what must an entrepreneur assume when starting a business?
Necole Gibbs: Over the years, the company has evolved.Initially helping businesses with all things start-up, we grew into a communications agency with a focus on exposure and marketing opportunities. We also have a writing division for new and upcoming authors. Coined by one of our business partners as “The Olivia Pope” of writing, we love what we do and offer an array of services to help businesses reach their potential. An entrepreneur must assume that other entrepreneurs have the same ambition. They are just as good and may offer if not offer the same but similar services or products. The only way to be better or have a competitive advantage is to be consistent. Being consistent is creating the practice of making improvements. Although 11,000 businesses are being registered, most of them won’t have even the basic essentials of ensuring their back office is set up. That includes:
- EIN
- Articles of Inc.
- Business Checking Account
- Merchant Services account to track sales, inventory, etc.
- General Liability, Professional Liability or Error & Omissions Insurance
Being above average to gain the trust of others is how you brand your business. Focusing on your strengths, opportunities, threats, and weaknesses is how to remain competitive.
Did you make any wrong assumptions before starting a business that you ended up paying dearly for?
Necole Gibbs: Creating a partnership with someone I trusted was a mistake I ended up paying for dearly. Assuming that because we were great friends that we would be great in business is one of the hardest lessons, I had to learn. Sometimes friends and businesses just don’t make dollars or cents. Before starting my business, I also didn’t realize the amount of time that was required to operate an efficient business. My workdays spilled into many late-night sessions. Time management skills are essential to the planning process.
If you could go back in time to when you first started your business, what advice would you give yourself and why? Explain
Necole Gibbs: “Running a business is a marathon, not a sprint.”
In the beginning, I was comparing my small business to big businesses. I didn’t trust the process and made impatient decisions that did not cause cash to flow. Keeping invoices and records of what was coming in and what was going out is one of the reasons I almost went bankrupt and is the financial ruin for many entrepreneurs.
Keep someone in your circle that knows more than you. Entrepreneurs like a tax accountant, business consultant/coach, financial services expert, and even an attorney must be in your Rolodex and accessible to you. Not having some type of business relationship with one of these entrepreneurs, could cost me unnecessary unexpected costs.
What is the worst advice you received regarding running a business and what lesson would you like others to learn from your experience?
Necole Gibbs: The worst advice is not having any advice. But I wish to know to pay my business taxes monthly versus quarterly or annually. Initially, I should have included taxes as a monthly expense. Sometimes, there are slow periods in your business. Having to pay a 90-day tax bill in the middle of a project sometimes creates a strain on my business. Running a business is sometimes stressful and any possible way to eliminate that stress were valuable lessons I learned.
In your opinion, how has COVID-19 changed what entrepreneurs should assume before starting a business? What hasn’t changed?
Necole Gibbs: Covid-19 has changed the way the world does business…period. Especially entrepreneurs starting a business. Many new entrepreneurs should assume before starting a business that sales could be affected and planning should be thought out in detail. A storefront versus working from home should be considered. Prevention methods concerning a pandemic should now be included in any type of business model when starting a business. Being social and branding through the Internet hasn’t changed. The party is online and has been for many years. This is why running a business via the internet hasn’t changed.
What is a common myth about entrepreneurship that aspiring entrepreneurs and would-be business owners believe in? What advice would you give them?
Necole Gibbs: A common myth about entrepreneurship that aspiring entrepreneurs and would-be business owners believe in is that it is easier to be a business owner versus a worker. A worker for any business has a capped amount in salary and hours. An entrepreneur, however, has to work their business until the work is completed. Orders must be filled and shipped if the business is an e-Commerce business and deadlines must be met to ensure integrity if services require a deadline. Count the cost is the advice I would give any entrepreneur before starting a business. Counting the cost means evaluating expenses and the business model to ensure that the business sustains itself while providing quality customer service.
What traits, qualities, and assumptions do you believe are most important to have before starting a business?
Necole Gibbs: Being ambitious, consistent and punctual are important traits and qualities that an entrepreneur should possess.
How can aspiring leaders prepare themselves for the future challenges of entrepreneurship? Are there any books, websites, or even movies to learn from?
Necole Gibbs: One size does not fit all. So although, there are many resources that are readily available a person must tap within to determine what is best for them and their business model. Entrepreneurs can prepare themselves by creating habits that are conducive to their model. Audible has been one of my favorite resources because of the many books I can listen to while multi-tasking.
Youtube University is a way I receive how-to and free business tips. Meditating and setting my intention for the day is another habit I have developed to maintain competitiveness. I am not an early riser so I am really different when it comes to some practices. The Chic Entrepreneur and watching Shark Tank have been some of the resources I have used to help me with my business.
You have shared quite a bit of your wisdom and our readers thank you for your generosity but would also love to know: If you could choose any job other than being an entrepreneur, what would it be?
Necole Gibbs: I would be a flight attendant. I could travel all over the world…for free.
Thank you so much for your time, I believe I speak for all of our readers when I say that this has been incredibly insightful. We do have one more question: If you could add anyone to Mount Rushmore, but not a politician, who would it be; why?
Necole Gibbs: Warren Buffett. He has stayed clear of scandal and many other diversity issues while maintaining his empire. He also doesn’t take himself too seriously which makes it easy to relate and soak up information from him.
Jed Morley, VIP Contributor to ValiantCEO and the host of this interview would like to thank Necole Gibbs for taking the time to do this interview and share her knowledge and experience with our readers.
If you would like to get in touch with Necole Gibbs or her company, you can do it through her – Linkedin Page
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