Q+A with D.A.L.S Founder, Lynette Stevenson
Written by Alexandra Scicchitano
Starting your own business is hard enough, especially in these unprecedented times with the COVID-19 pandemic and the social change taking place. It is even harder to own a business as a double minority (a person with two marginalized identities). Today, we will be speaking with Lynette Stevenson, owner of D.A.L.S. Credit Solutions & Notary, and asking her about her experience owning a business as a Black woman.
Lynette Stevenson: My name is Lynette Stevenson. I own D.A.L.S. Credit Solutions, Notary and Real Estate. I began the company in March of 2019 after I was terminated from Geisinger Holy Spirit, a major hospital in eastern Pennsylvania. As I began to brand and build my business, I noticed I didn't want to work for anyone no more. I just learned about business by reading and improving my credit overall. I started at a 454 prior to losing my position at Geisinger. I understood the methods of FICO and its algorithm, the actual form of what was missing to allow me to reach the peak of over 800.
[My first client] allowed me to use the strategies that I've developed and improved her overall credit with some empirical analysis. The missing components that I've developed as to why a person was unable to reach the 850 score. I've improved Satin’s credit [by] almost 200 points since she began. She started in the 500s and is now in the 700s. And as I begin to grow, I just continue to read about business. Coming from an area of excellent customer service, I've had over 500 clients and I’m doing business now with the federal government.
D.A.L.S. Credit Solutions & Notary: What is it like being a Black woman who owns her own business?
LS: So being a Black woman business owner can be challenging because we won't ever get the respect that we deserve. My hope for that is to let everyone know that we are capable of doing anything, not just as a Black woman, a woman period. I think we get denied so much because of our gender. So, I believe in equality, I believe in kindness. Feminism is for everyone; I believe in combining and not dividing.
D.A.L.S.: What are some hardships that you faced as a woman -- or just as a Black woman -- owning your own small business?
LS: The inability to even operate a business as a Black woman. People, other industries, don't respect credit restoration because of its practices. I know I earned the respect of some other small businesses because of the practices I do while doing credit restoration.
D.A.L.S.: How has social change affected your work and business?
LS: It actually increased our business because people understand the importance of credit. So many things based off those areas of the way we are funded, the way we did PPP [Paycheck Protection Program]. We are able to get funding for businesses. We've gained so many clients --individual and businesses -- because the importance of how to continue to thrive during these times is based off of what you have access to. I'm doing this because people know traditional savings is a waste at this time. It's always been a waste of… I've been involved with that when I say traditional saving, meaning put up five, $10 in a normal backup [account]. We do a lot of money management as far as investing. We educate on investing in what and where to put the funds when you do get them. We're big on insurances, build on building equity and assets. So, we honestly increased in sales during these times.
D.A.L.S.: What does Black History Month mean to you?
LS: The thing with Black history is that it is every day. I did it differently on my platform this February because one, we have a Black [vice] president as a female. Two, I wanted to stand out and represent the ones [before her] that made it possible for her to be where she's at today. There are many prior to her that at the time didn't have a visual for individuals to be allowed of knowing who they are and doing this was different as far as the faces of the unknown. Kamala Harris is a powerful woman, well respected in many areas, but there were many before them. And we don't know these people. So, I wanted to showcase every day, a different individual that made a difference prior to them coming of these powerful individuals who deal with women's rights. So, I wanted to showcase every day a different woman, a different Black woman doing this and know that we appreciate them, respect them, and thank God for them because if it wasn't for them, there would be no us.
D.A.L.S.: What would you say to young Black women or girls who want to own a business?
LS: Believe in values and believe in making mistakes. I never thought I’d own a business at all because instilled in our minds from the beginning, it’s work 40 hours a week and make X amount of dollars. Go to college, get a degree, work in your field and still be of importance. I never experienced entrepreneurship on my own until I was fired, but I've encountered many entrepreneurs. It’s very rewarding, but it’s a lot of long hours. The average person may work 40; I’m working 90 a week. And it’s because you never know when your next opportunity is going to come. We could make $100,000 in one month and make nothing next month. You can make $1,000,000 in one month and don't make nothing for another six months. You have to have that consistency and marketing and strategic planning and overall the systems... to continue the success. It's extremely rewarding, but it's also extremely exhausting. So, I would tell the next person coming in, believe in your failures, don't take “no” at face value, learn to accept constructive criticism and keep God in front of it all. That's my advice.