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If you’re a serious minded Black Business Woman, I’m sure that when you saw the term Business-Savvy Barrier in the title of this post, you raised your eyebrows and thought, “What the what?” But the numbers representing our success and progress compared to women in other races are startling. Black women business owners have come a long way in the past 20 years, but we still have a way to go.

Despite the growth of Black women entrepreneurs, there are multiple challenges, specifically regarding the income disparity experienced in the entrepreneurial sector. According to the U.S. Bureau of Labor Statistics, although Black female business ownership is up 59% since 2002, we only generate a little more than 3% of the gross sales receipts of the $1.2 billion dollars of all women-owned small business firms.

These are the demographics of the top three women-owned small business firms by race: White (72%); black (12%); and Asian (7%). While there are approximately 388,759 more Black women business owners than Asian women, they generate $51 million dollars more in annual gross sales receipts. Conversely, Black men with small businesses earn an average of $103,310 annually, compared to Black women business owners who earn an annual average of $43,000. This is disturbing and ladies, we must do better!

This suggests that Black men are somehow more successful in charting their ascent up the business ladder, being their own bosses, and spearheading their own economic futures. This may also indicate that Black female entrepreneurs have significant hurdles to overcome outside the corporate setting without access to capital, economic resources, angel investors, and eminent business advisors with “real-world” experience to help navigate the rough business terrain.

This should be an eye-opener for Black women business owners collectively. If, as the data indicates, we are struggling with disparity in gross sales receipts, what will it take to change the numbers? How can we enhance our Earning Power? I’ve already pointed out several barriers that we must overcome, but there are also other major obstacles such as lack of market expansion. Studies have also shown that Black women tend to network and sell to “our own people”, because we perceive that they are most interested in our products and services. But by far, the most substantial hurdle has to do with being Business-Savvy.

Is the research pointing to a legitimate short-coming? Is there a Business-Savvy Barrier for Black women entrepreneurs? Strong Business Acumen (the term I prefer) involves having solid business management skills such as, financial acumen, driving strategy and innovation, critical thinking, and the ability to build strategic relationships. This goes beyond technical skill and the depth of knowledge that you may have regarding your industry. So, for Black women, the missing element of the success and financial profitability equation is Business Acumen.

Black women have brilliant business ideas, but we have to shift our focus to learning how to become “Masters in Business Acumen”. Our businesses have the potential to get us a much bigger piece of the revenue pie. So how can Black women bridge the financial gap and greatly enhance our gross receipts over the next several years? Here are four steps that I suggest:

1. Become More Business-Savvy: This means cultivate a deeper understanding of the business behind your business. From a business portfolio perspective, you must be cognizant of the primary functions that impact the bottom-line of your small business: Cash Flow (i.e. days of cash on hand and speed of cash generation), Customers (acquiring, serving and retaining them), Growth (achieved through new or enhanced products or services, reaching new customers, or moving into new markets), and Return (as a function of margin and velocity).
2. Develop Financial Acumen: Don’t relegate this to a bookkeeper and then glance at the numbers when you get your reports. You must learn how to interpret the story that the numbers tell and take the appropriate action (strategic and/or tactical) in response to that story. This means knowing exactly what your company's financial numbers mean and their implications.
3. Constantly Focus on Business Strategy: The business arena is all about change, all the time, no matter what industry you’re in—and that's more evident now than ever before. Your business strategy must do three things effectively: gain customer preference, create a sustainable competitive advantage, and leave money in the bank. To avoid the red zone of failure or to move from just breaking even, you must operate more strategically.
4. Understand the Power of Positioning: Whether you are a new business owner or seasoned, you wear the mantle of a business leader. Innovation and strategy within your business will be driven by your great ideas and your ability to execute and implement those ideas. Understand your current position in the marketplace, see where your industry is heading and then take a LEAD position – get in the front of the line and deliver!

To know how closely you fit in the statistics, ask yourself this question: Based upon your tax return from 2011, would your accountant say that you have a “business” or a “hobby”? I would love to hear your thoughts on this topic.

I have a new virtual service coming on October 16, 2012 that can help you enhance your Business Acumen.  Take a look at this e-Brochure to learn more.  If you are serious about becoming a Business-Savvy Black Woman and want to increase your earning potential, the MBA Center for Women can help you! If you would like more information or want to sign-up for the MBACW mailing list, please visit http://www.moniquestoner.com/the-mba-center-for-women/. The MBACW website and virtual training services can be previewed live on October 9, 2012 at www.mbacenterforwomen.com.

Aren't you always hearing "I wish I could attract more money into my life?" I think I've said it myself a few times...I've heard it a lot of times. Especially with that mega millions lottery in the U.S. a few short months ago! And we all heard a few stories coming out of that one, didn't we?

I've checked around and couldn't find anyone who answered 'no' to this question. The reason is - like it or not - much of what determines how much enjoyment we get out of our business or even life depends on the amount of money we have. Sure there are people out there who will tell you they don't want to be rich and that money is the root of all evil blah, blah but these are really misguided beliefs about money that have developed over time. (By the way, the scripture actually says "the LOVE of money is the root...", but we won't get into semantics for this article. Check it out.)

But seriously, who wouldn't want to be able to afford the things they want and need? You already have the ability; you just have so much poverty thinking and baggage in the way, you can't make room for prosperity in your life.

Much of what I share about branding and putting automation systems in place has to do with money - either making more of it or saving it. If you are in business, you need money to keep the business going; otherwise, it's a H-O-B-B-Y, or something else.

It's important to put aside any negative limiting beliefs others have dumped on you about money (did you cringe just now because you read that word again? if so, that's a sign of those ill-gotten beliefs kicking in).

If you are one of the few who had parents with a positive money mindset, consider yourself blessed. But if you are in the majority of people who had parents who believed in hard work, education and the idea that anyone who made money easily was simply lucky, lazy or immoral, then keep reading because you need this.

Money is, of itself, not bad and the amount of it you have is in essence a result of a few key beliefs some people engage in very well. (Trust me, it's taken me quite awhile to get this. I wasn't the fastest cookie in the jar on this at first, especially when I was newer to business).

Let me share just a few brief principles here...
Develop A Wealth Mindset

If your head is full of the conviction that rich people are greedy or power-hungry or must have done something illegal in order to gather the riches that they have, then you don’t have a wealth mindset. And if you don’t have a wealth mindset, then no amount of hard work you do will make up for your lack of money. Just like the poor dad in Robert Kiyosaki's 'Rich Dad, Poor Dad, you will ALWAYS be struggling.

Here's something about rich people that you may not know. Rich people are people who have a strong conviction that there is nothing wrong with being rich and that they deserve it. Not only that, people with a true wealth mindset actually believe that money can be a source for good. It supports families and provides them with food, clothing and shelter. It launches successful businesses that in turn support and replenish communities.
Change Your Motivation

Money can help us get whatever we want. However, there are lots and lots of motivations for being wealthy, some of them good, some of them not so much.

There are people who believe the world is full of abundance and money is instrumental in that cycle of abundance. So it is natural that they think being wealthy is a worthwhile goal. They see it as being within their reach. And for these people, it generally is easier to achieve, because their belief system is in complete alignment and harmony with their sub-conscious mind, which always wants to push us towards well-being. Isn't that cool how God did that? ... creating us to be well? do well? It's our own choices and actions that often take us down a different path.

Something I learned studying NLP (neuro-linguistic programming) for a year with a master practitioner was "mind and body are part of the same system and affect each other", so what you have been programmed to believe shows up in the way you act and make choices. But...you can change these beliefs. It's a choice you have to make though. Choose to live the way you are now, or prayerfully choose to change direction.

Unfortunately, having a positive mindset about wealth is not something adopted the majority of people. Most people go through life with a 'poverty mindset' and keep striving and striving to meet their immediate needs for fear that they will somehow not have enough.' So they do things like lowering their prices, sounding weak in their offers, giving away services they worked long & hard to invest in building.

Does this sound like anyone you know?

Well, to sum it up; if you desire wealth because you believe it's your ticket to achieving good things for yourself and for others, then it will be much easier for you to become wealthy. Your desire to free yourself from the slavery of having a day job, or working your business 24/7 so you can really live and spend more time with your family and be involved in your community is certainly a worthwhile goal. And you should remind yourself every day how worthwhile this goal is.

Sometimes a little structure and a plan can help...Saturday, 5/19/12 I'm holding a half-day virtual bootcamp called Reclaim My Money Power. If you are an entrepreneur sick of making weak offers, want step-by-step strategies to transform your mentality and you really want to design a wealth legacy for yourself and your family, come join me. You can find out more here:http://reclaimmymoneypower.com. No pressure - I really put this together for all my friends who have been asking. Consider and if it's right for you, I'll see you there.

Hello friends in the business world..I am Annie...its been a long time since I've been on here ...I have 2 kids ages 5 and 7.  I am certified CNA(which is my full time) and Im certified EKG.  I work Part-time(for now) as an Independent Rep for Primerica. If I knew then what I knew now I should've been in this field a long time ago... I started as a Rep and now I am a senior Rep...my next goal is to pass the state exam to become a licensed life insurance agent which would lead me to district...guys its an awesome opportunity...  A friend of mine died March 2nd, 2012.  We were suppose to meet to discuss about him getting a policy on him and his little daughter...I didnt get chance to talk to him..our schedules didnt match.Yall let me just say that when I found out that he passed(test driving a motorcycle)..it hurt me to my heart...My friend is gone too soon b/c I waited too long.. R.I.P..my friend.  Now my mind is on helping people make the right choice b/c you never know when its your time...I am looking for 20 people to join me in becoming a light for those who need it....If you would like to work to help families as well as yourself please contact me.

I do travel to meet with groups of people to hold life insurance classes if you would like to book with me and hold group meetings, company meetings please let me know.... if you would like quotes on life insurance please let me know..always looking for bright people to join my team...get chance to meet like-minded individuals making a difference in this world....one love ..thanks

In my latest blog post, I share the importance of understanding the difference between a profitable lifestyle versus building wealth. Not that having a profitable lifestyle is bad because it isn't but that we shouldn't confuse the two and that focusing too much on a lifestyle in sacrifice to your wealth journey isn't what our purpose is for. I encourage you to check it out...great food for thought!

While you're checking that out, check out Part II featuring 6-10 of the 10 ways you need to get your personal "Act" together in pursuit of your entrepreneurial success. 

Let's start a dialog! Tell me what you think of these post. How do they relate to your life, do you agree disagree? 

Are you sabotaging your success?  Listen to this interview and learn how you can train your brain and chart your path to success.

Wealthy Lifestyle Radio

Are Good Manners Taboo in Today's Business World?

Have you noticed a theme about manners and etiquette lately?  There seems to be a question about the importance of polite behavior.  More and more people are asking:

• Are good manners a thing of the past?
• Is it important to be nice?
• How do you spell "respect"?
• What difference does it make if you know which fork to use?
• What is all the fuss about a firm handshake?
• If I am good at my job, what does it matter how I dress for work?

What do you say?  Please be diplomatic.

I have discovered a company that has not only laid the foundation for an opportunity

that would span the spectrum of wellness but actually has a great line of products. These products contain antioxident properties good for streghthening the immune system, supporting cartilage and joint funtion, promoting a healthy respitory system, and make you look good too!

Click here for more information => I’m Ready For Change

Tamara Garrison-Thomas

www.garrisonprosperitysolutions.com

www.businessadvice2011.blogspot.com

Market your business and get paid! www.crazygood.com/refer/whywait

• Successful business owners
• Actors, Actresses and Entertainers
• High Profile Sports Figures
• Sales People
• Coaches
• Speakers

1. Develop and maintain business
2. Project a positive image
3. Project confidence and authority
4. Earn more money
5. Establish relationships with decision makers
6. Establish trust and credibility
7. Establish authority
8. Attract more business opportunities
9. Get publicity opportunities
10. Establish your brand
11. Enhanced confidence and self respect
12. Feel at ease in social situation

Let start with what networking is not.  Networking is not handing out a bunch of business cards, and hoping someone calls.

Business networking as described by Wikipedia, the free encyclopedia

Business networking is a marketing method by which business opportunities are created through networks of like-minded business people. There are several prominent business networking organizations that create models of networking activity that, when followed, allow the business person to build new business relationship and generate business opportunities at the same time.

Technology makes it easy for us to expand our circle of influence.  However, the most powerful connections are made face to face.

Master these powerful networking skills and you will gain respect and credibility from your colleagues and clients. 

1.  Take a positive and deliberate approach to networking, you will find this extra level of attention makes it easier to establish relationships.

2.  Your business image should reflect your abilities, values, goals, and business mission.

3.  Build brand loyalty one fan group at a time.

4.  Exude energy and passion to command respect and grab attention.

5.  Be honest about what you can do and cannot do.  If something has gone wrong be honest and upfront immediately.

6.  Focus on following up and following through while you’re still at the meeting.

7.  Asking this one questions will increase your bottom line.  “Who is your ideal client/customer, and how can I help you.

8. Remember the name.  We all like to hear our name, but don’t use first names unless you are asked to.

9.  Always defer to the other person.  Don’t monopolize the conversation or talk about yourself too much. Allow the others to have the spotlight.

10.  Using the terms “ma’am and sir”, shows the utmost respect.

11.  Be well informed.

12.  Perfect your “30 second commercial.”

13.  Remain standing as much as possible-you will appear more approachable.

14.  Remain in control even under pressure.

These techniques and tactics will allow you to seize opportunities that otherwise would not be possible.

“Take the time to be exceptional, it will show in how you make others feel, and in your bottom line.” Walethia Aquil

I know how vital it is that you leverage your unique knowledge, experience and brilliance. I definitely want to help you expand your business development and growth experiences, enhance your professional profile, promote your business and create visibility to attract those who want more from you. 

Schedule your complimentary discovery session today.  Send request to:
walethia@graceandcharm.com.  Put Discovery Session in subject box.


Make sure you get your copy of the free report “How to Network Effectively: The Key to Power, Influence and Wealth.”

With just a few days left until the end of the month, as well as April being Financial Literacy month.   I thought it was very ironic to hear a recent radio advertisement announcing that certain individuals should take part in a great program being given by creditors; it’s called “The Credit Amnesty Program”.  This advertisement was encouraging people who have credit scores as low as 480, to come and apply for INSTANT CREDIT no one is turned down.  Lie!!!!!, this is the biggest gimmick and it’s been around for years it just has a new name, but the financial shackles are the same for individual with bad credit.  Why because the people who buy into these tactics are given interest rates as high as 18% or higher, the debt these individuals accumulate is designed for them not to pay if off which in turn many of these people will default on their debt.  I recently did a webinar regarding “What impacts Your Credit” during this webinar I showed the cost comparison of a credit worthy consumer and an unworthy credit consumer.  Take a look:

Examples of Credit Profiles

Here is an example of the cost of a $20,000 car loan over 5 years:

Prime 680 or higher score - Interest rate 7%, Payment $405, Total Cost after 5 years $24,300

Sub prime 500 - 619 Interest rate 14%, Payment $477, Total Cost after 5 years $28,620

Jilted 500 or below – Interest rate 21%, Payment $557, Total Cost after 5 years $33,420

As you can see in this example there no advantages of being an unworthy credit consumer, you may be able to buy material purchases but the consumer with bad credit pays a big price at the end.  Don’t buy into the hype, educate yourself.

Lorillia Brown-Phillips

Building and Preserving Wealth One Generation at Time

www.brownassocllc.com

1. Know that your reputation is valuable.
2. Do what you say you are going to do.
3. Return all phone calls.
4. Treat everyone with respect and courtesy.
5. Be visible.
6. When you meet new people, introduce yourself.
7. Try to develop a knack for remembering names.
8. Be an active listener.
9. Create a “small talk” notebook.
10. Be sensitive to body language.
11. Send a follow-up note.
12. Get to know the support staff.
13. Know your profession.
14. Pass articles along with a note.
15. Keep a supply of greeting cards for all occasions.
16. Write…write…write.
17. Go through your list of contacts periodically, update.
18. Let people know that you are available to speak.
19. Selectively donate your services.
20. Remember what Mom used to tell you, say “Thank you.”

1. Politics-Talking about politics is always a touch subject.  Some people are very passionate about their political views.  If you don’t agree with something that has been said, just acknowledge what has been shared by nodding .
2. Health-People really do not what to hear about your latest surgery.  Sharing too much bad news can bring the conversation down.
3. The cost of things-Ever been around someone and all the talked about was how much they paid for their car, house.  Don’t ask and don’t tell.
4. Personal question-Don’t ask questions such as “How much money do you make?” Or “When do you plan to have children.”
5. Don’t gossip-When you gossip you destroy your creditability and trust with the group.
6. Your boss/or job-You never know who knows whom. 
7. Off-color jokes-I tried to justify this by saying, “If you are with close friends and you all share the same views; however, I cannot.  It is never acceptable to joke about another’s weight, religion, racial heritage, physical limitations, or make any remark that will hurt another person.
8. Doom and gloom-People hear enough bad news, all one has to do is turn on the TV.  If you want to draw people to you, be happy and optimistic.

So, what can you do to avoid putting your foot in your mouth?

Learn the art of small talk.

   Definition of small talk:  n. polite conversation about matter of little Importance, especially between people who do not know each other well. Encarta World Dictionary.

• Be well informed-Read the news paper, Keep up with current events, locally, nationally, and internationally. Watch interesting documentaries on TV.
• Don’t interrupt-Interrupting a person’s conversation is very rude.  People could see you as being argumentative.
• Focus on the other person-Use the others persons name during the convection.  Pay attention to what they say, the other person will say something you can comment on.  They may share their love for a certain sport, or a movie or book they’ve read. 
• Maintain eye contact-Eye contact shows you are interested in what the other person is saying.
• Ask for their advice-Keep the topic light.  You may ask their advice or opinion on a new restaurant, or play.
• Don’t give advice-Give advice only if the other person asks.  It is best to hold off giving advice on personal matters, even if asked.
• Think before you speak-There have been more times than I care to admit, when I should have not said one word. 
• Always apologize if you say the wrong thing, or even is what you have said is misinterpreted.  People will respect you more.

• You will feel more comfortable because you know how to behave in different situations.
• You will be surrounded by people who enjoy your company because you are confident and poised.
• You will get along with other people easier and it will help your to draw people to you.
• Be it business or personal, it will help you in the initial establishment of any sort of relationship.
• You can set yourself apart from the competition. It will open up plethora of good career prospects and job opportunities and increasing your clientele. Better, higher paying clients will be the result.
• You will be more professional and confident by keeping the company operating at peek capacity.
• Your might be able to get promoted faster and earn more money.
• It will teach you how you can avoid international, social or professional faux pas.
• You will lean essential human to human connection skills and behavior-attributes that will lead to success for associations as well as groups.
• It promotes respect, civility and teamwork to keep dedication and high morale,
• Last, but not least, it might allow you to find the right person to get married quicker.

• Learn the skills necessary to reinforce your brand
• Connect with your ideal client in 90 sec or less.
• Become more charming, memorable and persuasive.
• Learn the universal rules of effective networking and the types of people who can be helpful to you professionally.
• Learn the attributes of great networkers and how you can attain them.
• Instantly establish instant trust and credibility

It is a 'Grace and Charm' Monday. Would You Like to Polish Your Image to Get More Prospects, More Clients, and More Cash Flow?
I’ve spent the entire weekend planning and strategizing. Watch for my upcoming webinar Bridging the Gap: The 5 Essential Skills That Accelerate Your Success. I’m going to show you how to position yourself in the market place, create your presence in the market place, so you will have power and influence in the marketplace!

Whatever you left behind in 2010, the New Year holds the promise of better times ahead. Every year millions of people make New Years resolutions, hoping for a change. A fresh start requires a solid foundation and a plan if you intend to reach your destination. Have you ever heard the saying "It's in the details?" Your plan for change this year does not have to be complicated; it really is simply going back to the basics. It is going back to the principles that our parents, their parents and our forefathers built and lived their lives by.  Read more.

Suze Orman is one of my favorite financial gurus.  One thing, she has always stressed is that health and wealth go hand in hand.  Often, when people are financially unhealthy, they are usually physically unhealthy.  Taking of yourself and reaching your weight loss goals, increases your confidence and productivity. When you feel good about yourself, your outlook on life is better.  Losing weight can be one of the biggest challenges anyone faces.  I have successfully lost 80 pounds and I am seeking to help and motivate others.  I invite you to check out my blog Healthy Girl Now- http://bit.ly/gszQEw

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