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Competition is dead. Collaboration is the new currency.
surround yourself with sistahs who refuse to doubt you.

A friend of mine who is a well-known thought leader on business growth strategies recently shared one of her biggest frustrations with me.  She said she was tired of seeing a lack of collaboration among women entrepreneurs of color.

She lauded some of the popular (non-Black) experts and solopreneurs and admired how they strategically support each other when it comes to promoting programs, books, events etc.  Because of their willingness to do so, they’re enjoying massive success and totally redefining what it means to be a woman entrepreneur today. 

“Why isn’t the same thing happening among black women experts and entrepreneurs?  How do we do better?  How can we support each other and help each other grow?” she wanted to know. 

So she posed the questions in a private facebook message to a dozen or so of the Black women in her network.  I was honored to be included among this impressive group of women.  Before long, everyone started to chime in.  Some were very upfront about the obstacles that make it difficult to create a culture of collaboration among us but most shared their optimism that indeed it could be done.

This got me to thinking.

I started to reflect on my own experience with Black women.  For some reason, I’ve always tried to create a sense of community among Black women.  As a teen I led social clubs and functions and now as an entrepreneur, mastermind groups are a huge part of my business. 

I’ve seen with my own eyes the magic that happens when sistahs collaborate rather than compete with one another.  When collaboration is the driving force in a community where the expectation and standard of excellence are high, women suddenly have the courage to do things they would NEVER do on their own.

One example is Priscilla Williams, a registered nurse who never saw herself as a business woman.  Now, she’s an author, speaker and the host of a women’s conference that is now in its second year.  She achieved all this in part because of the community she found in my Bold Fearless & Fabulous Mastermind.

Another great example is Adrienne Manson, a certified life coach who was having a tough time building her coaching practice.  Now she’s re-branding her business, getting bold about her message and excited to be getting paid to speak at various events this year.  She made it happen thanks in part to the Bold Money program I launched late last year. 

Then I think of my own story.  As a painfully shy girl from West Englewood in Chicago, it was hard to conceive that I would be a TV/radio host, speaker and successful entrepreneur.  Well with a lot of support from family and mentors I’ve exceeded my own expectations.  

Throughout my entrepreneurial journey, I’ve connected with some downright gamechanging sistahs who showed me what’s really possible.  I thank Leesa Renee Hall, Tynisha Thompson, Brenda Rivas Gail Campbell, Varian Brandon, Michelle Brown-Dawson, Therese Prentice, Marshawn Evans, Nikki Woods and Adrienne Graham for setting powerful examples. 

Over the years we’ve shared ideas, strategies and encouragement.  A few of them have also given me a kick in the pants when my actions didn’t match up to my BIG vision.

This is just a partial list of the women who I look to.  I mention their names because I truly hope you look them up, learn about what they do and maybe even do  business with them.

In my opinion competition is dead.  Collaboration is the new currency.  This is one reason why I’m hosting a business retreat for women here in Puerto Rico this summer.

What about you.  How do you feel about competition vs. collaboration? Who are your collaboration partners?  Who helps you take your biz to a new level?  Do you agree that it’s time women of color do this more?  How would collaboration help you?

FEEL FREE TO SHARE THIS!  JUST BE SURE TO ADD THIS BLURB: Monique is an award-winning TV & Radio personality and a certified Income and Influence Coach for emerging women in business. Using her nearly two decades as a producer and on-air personality and 10 years as an entrepreneur, she helps women in business drop fear and excuses to become highly visible high-earners.  Her OverFlow Women’s Business Retreat is being held in San Juan Puerto Rico June 9-12, 2015.

Is her religion keeping her broke?

 

the UNLEASH book is now free

According to research conducted by the American Express OPEN Small Business Monitor, the average female business owner salary is $63,000 a year.

Now this ain’t bad, but personally, I believe the value we bring to our work is worth way more than $63K a year.

Plus, unlike our male counterparts, female business owners are more likely to have to work a second job to make ends meet. The reason? Costly (and common) mistakes that leave some of us with an inconsistent flow of clients and cash.

This problem is easy to fix.  Here’s one solution:

My friend, Leesa Renee Hall, has just dropped a brand new book designed to help Christian female business owners unleash the flow of money in their ministries and businesses.  Her tribe is itching to get their hands on THIS!!

And get this, she’s giving away copies of this book for dirt cheap but ONLY for the next few days.

I frickin love the title.  It’s called…

Unleash the Flow of Money: The 7 Biggest Mistakes That Keep Christian Female Business Owners Frustrated With Inconsistent Cashflow – And How to Avoid These Mistakes Once & For All.

Hot right?  You can click right here and grab it now.

Leesa shows you:

  • The 3 words killing your cashflow (and what you need to do instead)
  • Why growing your business through referrals is a lousy way to create consistent cashflow
  • The single reason why the Proverbs 31 woman did not lose money or go into debt while doing her many tasks
  • The #1 way to make money fun and enjoyable – especially if you hate to do budgets
  • Why you attract needy, over-demanding and rude clients (and how to stop this cycle once and for all.

Remember – Leesa is making copies of her book available for a tiny fee but only until February 24, 2014 – or once 2500 copies have been claimed – whichever comes first.

To download your copy of Unleash the Flow of Money, click right here.

Do you see Christian women entrepreneurs struggling with money?  Is their religion keeping them broke?  What will you do differently to unleash YOUR flow of money? 

FEEL FREE TO SHARE THIS!  JUST BE SURE TO ADD THIS BLURB: Monique is an award-winning TV & Radio personality and a certified Income and Influence Coach for emerging women in business. Using her nearly two decades as a producer and on-air personality and 10 years as an entrepreneur, she helps women in business drop fear and excuses to become highly visible high-earners.  Her book BOLD Money will be published in 2014.

Are your undercharging for your services? Part 2: How to stop that madness right now.

 

You are too brilliant to be broke

I got a LOT of feedback from my last article which asked the question: Are you under-charging for your services?  Several people honestly admitted that at one time they were “chronic under-chargers,” but thankfully, they are now on the road to recovery. 

For the entrepreneurs who still struggle with this problem, keep reading.

So how do you stop under-charging?  Here are just a few suggestions:

1.) Pinpoint a niche.  This takes a ton of courage. Low-earning entrepreneurs tend to think that focusing on a niche will cause them to lose a larger share of the market. In fact I had a conversation with an entrepreneur just the other day who said, “If I only focus on women over 40 with xyz problem, then I’ll be excluding all the men!”   She was deeply concerned about this.  

I settled her fears when I said this:  ”By focusing on women over 40 with xyz problem, you become more appealing to that specific group.  You’ll speak their specific language, share solutions to their specific problems and then you will become a magnet for that group.  They’ll begin to recommend their girlfriends, relatives and colleagues because you’re positioning yourself as the expert who has the solution to their unique problems…”

I went on to say, “as they experience your awesome results, guess what…they’ll begin to bring their hubbies in too!”  Immediately she saw the light.

Pinpointing a niche is like courting.  When your man takes you out on a date, there are tons of other women at the restaurant, many of them  drop-dead gorgeous.  However, his attention is focused only on YOU.  He’s admiring YOU.  He’s listening to YOU.  He’s talking to YOU.  This makes you want to invest more time with HIM, right???  

Contrarily, if his eyes are roaming all over the place and he’s winking at other chicks, you quickly decide he’s not the right one.  On to the next…

It’s the same with choosing a niche. The biggest brands in the world became successful because they new exactly who they wanted to reach and they courted that group.  Sure, others can come along and enjoy the benefits of working with you but you gotta always know who your target is.  Let your marketing be a love song to them.

2.) Focus on outcomes.  Under-earning entrepreneurs like to explain the details of how they’ll get you results.  That’s a waste of time.  Simply highlight the outcome or the result you provide and that’s how you get people to say yes.  

For example, if you’re a massage therapist, don’t go on about what kind of hot stones and how much pressure you’re gonna put on my back, legs, arms and shoulders, just tell me which massage is best suited for my particular problem (’cause you’re the expert) and assure me that by the time you’re done I’ll be completely relaxed, my headache will be gone and I’ll sleep like a baby.  With that, I’m like “where do I sign up?”

3.) Collect testimonials.  This is one of the easiest marketing tactics to employ but it is often overlooked by under-earning entrepreneurs.  Testimonials give you instant credibility.  They can be the key to helping a prospective client make a decision to work with you.  They’re like free commercials, selling your services even when you’re not around.  Always invite happy clients to share feedback about what you did for them.  With good testimonials, you’ll have an easier time raising your fees.

4.) Offer packages at premium rates (to attract high-paying clients).  I hereby declare that the days of charging by the hour for your brilliance are officially over.  If you want to start earning what you’re worth, start creating premium packages that bring value to your client and allow them to work with you over a longer period of time.  Let them experience your magic as you build a loyal partnership.  The more results they get from working with you, the more likely they are to continue working with you…and soon they won’t be able to live without you.

I’m willing to guarantee that if you implement these 4 strategies today, you can start raising your fees within the next 30 days.  Are you ready to take this challenge?  If yes, check in below.

FEEL FREE TO SHARE THIS!  JUST BE SURE TO ADD THIS BLURB: Monique is an award-winning TV & Radio personality and a certified Income and Influence Coach for emerging women in business. Using her nearly two decades as a producer and on-air personality and 10 years as an entrepreneur, she helps women in business drop fear and excuses to become highly visible high-earners.  Her OverFlow Women’s Business Retreat is being held in San Juan Puerto Rico June 9-12, 2015.

Are you undercharging for your services? Part 1

Under-charging is a big problem in the entrepreneurial community, especially among women.  It’s like a chronic illness that stops you from running your business at the highest levels.  It can also cause you to feel like an employee in your own company.

So how do you stop the epidemic of under-charging and under-earning?  First, let’s acknowledge the most common myths that exist within the entrepreneurial community:

Never under-charge again.

Myth #1: You have to work from sun up until sun down to make your business grow.  This is such a lie.  Sure some sweat equity is required to get going, but if you’ve been in business for 3 years, you should have processes and systems in place that allow your business to operate smoothly even in your absence.

Myth #2: If you’re a service professional, you have to charge by the hour or if you sell products, you have to have the lowest prices.  Another lie.  If you are charging by the hour for your services, you are cheating yourself.  If you feel your prices have to be the lowest in town, you might as well open up a dollar store.

Myth #3: You have to be the one in your business who does everything.  You can not earn what you are worth if you do the filing, the mailings, the follow up calls, the event planning, the marketing, the sales calls, the web design and everything else.  Just because you can do a task in your business doesn’t mean you should and being busy, doesn’t mean you are profitable.

BOTTOMLINE: If you believe one or more of these myths, more than likely, you are under-charging AND under-earning.

Now let’s look at the reasons entrepreneurs undercharge

-      You are not sure how to price your service or products.  Again, charging by the hour is not the way to price what you do.  You’re far to brilliant to be earning an hourly wage.

-      You are not sure if your current clients will pay higher fees.   Some won’t and that’s okay!  What you as a woman entrepreneur must do is have overwhelming confidence in the results you provide for your clients.

-      You don’t consistently attract your ideal client because you have not clearly conveyed the value of what you do for them – Don’t tell me how you do what you do.  As your client, I don’t really care about that.  What I care about is the value of what you do.  Can you save me money?  Make me feel more beautiful?  Make my life easier?  Where there is value, profit follows.   So what is your value?

-       You haven’t identified a niche.  General marketing (or marketing to everyone) fails every time.  Unless you have a gazillion dollars in your marketing budget you cannot market to “everyone.”  Instead, focus on a specific group with a specific problem that you can solve effortlessly.  Build a relationship with them.  Speak their language.  Position yourself as the person they need to connect with…and they will come.

So how do you STOP the epidemic of under-charging and under-earning?  I’ll share 4 simple strategies in my next article.  In the meantime, what are you doing in your business to bring more value to your clients AND earn more money?  

FEEL FREE TO SHARE THIS!  JUST BE SURE TO ADD THIS BLURB: Monique is an award-winning TV & Radio personality and a certified Income and Influence Coach for emerging women in business. Using her nearly two decades as a producer and on-air personality and 10 years as an entrepreneur, she helps women in business drop fear and excuses to become highly visible high-earners.  Her OverFlow Women’s Business Retreat is being held in San Juan Puerto Rico June 9-12, 2015.

 

 
 
 
 
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Are your friends keeping you broke?
Are Black women REALLY “flat out broke?”
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