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Before founding a trio of eponymous gymnastics and ninja training academies, Dominique Dawes was a standout member of the legendary “Magnificent Seven” in 1996, the first U.S. gymnasts’ team to win Olympic gold.
At those games, Dawes also won a bronze medal in the floor exercise, becoming the first African-American gymnast to medal in an individual event. But ever a competitor, Dawes reflects on what could have been. She says it was during that floor exercise that she made her biggest athletic mistake: a slip-up in front of three billion viewers that cost her the gold medal. Decades later, Dawes has turned that embarrassing experience into an empowering one. “It gave me the perseverance I have today,” she told Entrepreneur. “When I stumble or get rejected in my business ventures, I see it as an opportunity to grow.”
Hard work and perseverance
Dawes' historic career began and ended at an exceptionally young age. She competed in her first competition at the age of six and was already competing in the Olympic Games at 15. At 24, Dawes competed in her third and final Olympic Games and began to feel the pressure of planning her life after athletics. “It was quite a challenge for me,” she admits. “I had to search long and hard for something that I had the same passion and talent for.”
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After moving from television to the Broadway stage, Dawes turned to motivational speaking because of the impact it gave her on other people's lives. Revelations about decades of misconduct within the USA Women's Gymnastics organization strengthened her resolve to be a force for change. “When all the wrongs in gymnastics came to light, I realized I had to be part of the solution,” Dawes says. That commitment to progress inspired her to open the Dominique Dawes Gymnastics and Ninja Academy in 2020, which focuses on creating a supportive and nurturing space for young gymnasts.
Learn to be flexible
In November 2019, Dawes posted a photo on Instagram of herself smiling with her children and showing off her splits as she signed the 10-year lease on her first academy. Just four months later, little did she know that a global pandemic would turn the world upside down.
The academy was scheduled to open in April 2020, but COVID-19 scuttled any chance of that happening. Still, Dawes persevered. Proving she could be flexible in many ways, she pushed the opening back to July 2020. “I had the chance to walk away and cut my losses,” Dawes says. “But I know from experience that what doesn't kill you makes you stronger.”
Jumping over obstacles
The setbacks Dawes faced as a new business owner during COVID-19 were a little more relatable than crashing during the Olympics and having to settle for bronze. Small businesses across the country suffered record losses during the pandemic, with some studies showing closure rates as high as 43%. In July 2020, the same month Dawes opened her first branch, Wells Fargo launched the Open for Business Fund to help small business owners. The fund has donated approximately $420 million to financial institutions and community development nonprofits between 2020 and 2023, helping over 336,000 small businesses across the country.
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Although her academy did not directly benefit from the fund, Dawes, a consistent advocate for small businesses, jumped at the opportunity to support the initiative. “I love that Wells Fargo stepped in and supported these small businesses so they could stay open during the most difficult time in their lives,” she says. “Ask yourself how many mom-and-pop shops you supported growing up? Imagine what a loss it would be to the community if they had to close their doors.”
Keeping the balance
Supporting small businesses is personal for Dawes, who grew up in an “entrepreneurial family.” Her father and uncle owned and operated waste management companies in Takoma Park, Maryland, where they worked long hours every day. Dawes was inspired by watching family members build their businesses, but was aware of the strain the work was taking on her personal life. “Running a business full-time can be very draining, so it's also important to get your priorities right,” Dawes said.
Although she no longer has to worry about slipping during her balance beam routine, maintaining her balance is still crucial to Dawes' success. When she opened the first academy, Dawes was on site 24/7, putting out fires and helping with practices. She quickly realized that wasn't a sustainable lifestyle, especially for someone who cares as much about family as she does. “If I tried to run this business and coach full-time, my kids would never see me as a mom,” she says. With her time as a coach behind her, Dawes is finding other ways to be actively involved. She has personally interviewed over 100 of her staff and tries to sit down with them and discuss their needs whenever possible. Still, there are rare occasions when Dawes makes a guest appearance as the most overqualified substitute gymnastics coach ever.
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