Lifelong entrepreneur Joy Woodson faced serious challenges to her livelihood, including keeping the doors of her two businesses open.
Complicating matters was an even more daunting threat. Woodson was scheduled for major, potentially life-or-death surgery. It was a procedure from which her father died of post-surgery complications just weeks before Woodson was to go under the knife.
Thankfully, Woodson not only survived the surgery, but her two businesses—7 Degrees Natural Hair Studio and Pocket Full of Stones—miraculously stayed open even after six months without income.
Woodson credits two things for these blessings: Relationships and financial literacy.
Entrepreneurial beginnings
This August, Woodson’s first business, 7 Degrees Natural Hair Studio, will celebrate 16 years in existence. But to let Woodson tell it, she came out of the womb ready to start that business.
Not only was she raised to embrace her natural hair, but self-reliance was another lesson she picked up.
Black people embracing their natural selves (skin color, hair textures, etc.) and striving toward self-reliance were lessons Woodson took to heart as a member of the Shrine of the Black Madonna’s youth program.
“Some kids sell candy or cut grass, but I learned how to braid hair,” said Woodson. “So, that was my little hustle as a child.”
As a 12-year-old, Woodson tried desperately to get hired by a family friend, Jameela Tally, who braided hair.
“Jameela, who is not with us anymore, opened the first natural hair salon in Houston (Strictly Roots) back in 1992,” recalled Woodson. “At 12 or 13, I’d stop by and say, ‘I know how to braid. Can you hire me?’ She’d always say, I was too young. But it was my first time seeing a full-out natural hair salon where it wasn’t a braider or someone that could do locks inside of a different type of salon or a barbershop.
“I never imagined that this could be a thing just for natural hair, just a beautiful, safe space for our people to embrace their natural beauty. That stayed with me for years. I was inspired. And later on, I ended up opening one.”
Challenges
For years, business went well, even with the ups and downs experienced by most entrepreneurs. Then COVID happened. But because Woodson has always been a disciplined saver, she survived that storm even when many other businesses couldn’t.
Then came another kind of storm.
“I got sick, diagnosed with a colon condition, and I was hospitalized for six months. I had three surgeries,” shared Woodson. “It was almost a two-year situation. However, the bulk of it happened within six months.”
A forever father’s girl, Woodson’s dad had been diagnosed with the same colon condition and underwent the suggested surgery, which called for the removal of part of his colon.
Woodson didn’t want to go that route, but her father, Darryel A. Woodson, helped guide her through the pre-operation process. The stress of facing a major operation only intensified when Woodson says her father died from complications of the surgery she was about to have.
Making matters worse, though Woodson had the will to work during that time, her body would not allow it.
Woodson says the loss of six months’ worth of income drained her bank account “a bit,” while she was fighting for her life and fighting to keep her business open.
“As entrepreneurs, we don’t have PTO, paid time off or sick leave, so it became very scary,” said Woodson, whose business up to that point had flourished off word-of-mouth testimonials alone. “That’s when I knew once I survived this, I had to have more of a digital presence as far as e-commerce; some kind of way to make money if my body wasn’t physically there.”
Woodson faced another challenge, wrestling with the reality of never giving herself time to grieve the loss of her father or rest from her multiple surgeries, hellbent on rushing to get back to work and regain clients she lost during her absence.
“I had to not only climb out [of my health and financial hole], I had to rebuild when I got back,” said Woodson, who grew to appreciate all the more her lifelong commitment to financial literacy.
Financial literacy
Woodson spent years working to move beyond the check-to-check existence. However, most of her savings were depleted during her six months in the hospital to maintain her home and business. Her commitment to saving and investing, rather than careless spending, gave Woodson a financial cushion she didn’t know she’d need—until she did.
Woodson credits another tool many use as a financial instrument—whole life insurance.
“I encourage every entrepreneur, and even if you’re not an entrepreneur, to have whole life insurance. It allows you to borrow from it,” said Woodson. “It approves a cash value. And because I don’t have anything to borrow from that might have been offered to me at a job, I was able to borrow money from my own life insurance that I’ve been paying for at no cost.
“That helped me get through, as well.”
Relationships
Another saving grace for Woodson during her trials was her relationships.
Though Woodson says the website she developed after her surgeries helped her develop even deeper relationships with her clients, she had already cultivated a healthy relationship garden. And it produced good fruits for her.
“I can’t say enough good things about the incredible work of the best loctician in Houston,” said client Chase Martin. “From the moment I walked into her salon, I was met with professionalism, warmth and a genuine passion for her craft.
“Not only did she do a wonderful job on my locs, but she also provided invaluable advice on how to care for and maintain them.”
“A Black-owned crystal shop. 100% worth the visit,” posted Alexandria Jones. “Felt the energy in my gut the moment I walked through the door. Another customer told me, ‘She knows it all,’ referencing the owner, Joy. Very informative and read me like a book right from the start. I will be back.”
Woodson advises entrepreneurs to step out of their comfort zone and build relationships with customers and suppliers, whether they look like you or not.
Multiple global suppliers shipped Woodson valuable crystals and told her, “Pay whenever you get back on your feet.” Multiple hair clients did similarly, with a few giving her $3,000 as support and pre-payment for future hair appointments.
“Those types of things don’t come just from being a great hairstylist,” said Woodson. “That comes from making a client feel valued.”
