Speaker, best-selling author and CEO of Fierce Factor Lab. Works with entrepreneurs and corporate teams to align purpose with paycheck.
As I watched the Black Panther movie, one of the biggest takeaways for me came from King T’Challa’s sister, Shuri, and how she was able to use her expertise to save her nation and move what was possible for them into new possibilities. It got me thinking: What would happen if every woman used her genius and brilliance to be the answer for those who need her? Since it is Women’s History Month, what better way to celebrate the brilliance in you than to really look at how you, too, can use your powers for good and make money while you do it?
To date, women entrepreneurs are the fastest-growing group of business owners in America. According to CNBC, “In recent years, the rate of women entrepreneurs has been growing at a percentage at least double that of their male counterparts.” This is encouraging news for the woman who has always dreamed of starting her own business.
One of the things I’m passionate about as I coach women on how to bankroll their brilliance is teaching them how to build a strong and sturdy foundation. Building your business the right way enables you to serve the right group of people and lead those people to a predictable result, which ultimately leads them to agree to pay you. Not only that, but building your business strategically from the beginning saves you time and energy and makes you more money.
Believe me when I say that I have come across so many women who have untapped brilliance inside them, and although they may have been successful in their former corporate career, something just isn’t working when they branch out on their own. Many times, when we get to the bottom of what could possibly be going wrong, it stems from not having laid the proper foundation when they started their business. It results in them not being able to generate consistent revenue.
To start a business, you need to have a solid plan, or what I call a “fierce formula,” in place.
Let’s look at building a house, for example. When you build a house, you have a vision of your dream home. But what you don’t know in that moment is all the steps you need to take, all the materials you need, the permits you have to apply for, and most importantly, whether you’ve surveyed the land.
You have a rough idea of what’s required, so you jot all of these things down on paper and decided to just build by instinct. Fast forward to the completion of your house, and everything is in working order, until the first big rain of the year comes and completely floods your entire home. How and why did this happen? Your ideas were great, and your vision was clear, but your execution is where you failed. Without a proper blueprint, you failed to remember that you were building your dream home in a flood zone. Your house is ruined!