Mogul Chix® Chat Podcast

Most of my life I relied on me. I didn't ask because people didn't offer.I was raised to never ask anyone for anything. And somehow, I became the person everyone went to to ask for advice, favors, help. I gave so much because I never wanted people to feel like I was untouchable. I had not yet learned boundaries. Because I had few boundaries, people took advantage. I positioned myself as a giver, I never allowed myself to be a receiver. I want to help you unlearn this toxic behavior so you can grow and prosper with ease and peace.

When you started a business, you threw yourself in head first, determined to make it work. After a while, you look up and realize your business has exploded...in a good way. Now, panic set in because you're overwhelmed and have limited you capacity to service clients. This would be a great time to start planning your team. Well, having a Staffing Plan in place would have allowed you to get ahead of it. But now, it's time to take action. Congratulations my friend. You are ready to hire!

In the beginning, it may look like you’re saving money by hiring a contractor. But over time, contractors cost way more than employees. There’s a mindset that hiring a contractor will save money. That's not the case in most situations. Small businesses may feel that contractors are the best solution, but it's a temporary one at best. And if done incorrectly, can cost you lots of money if the IRS comes knocking. Just ask Microsoft! Today I'm talking about building your team with little to no contractors and why it's a smart move to focus on hiring in-house employees.

Believe it or not, there is an art to networking and the secret ingredient is relationship building. Let's talk about how to network strategically so you can leverage those relationships to generate more revenue. 

Networking CAN'T be business as usual. A lot of people are caught up in Facebook Groups, Linked In Groups, etc, and experiencing that as "real networking". It's not. Not 100% anyway. Covid shut down all in person contact, forcing us to rely on Zoom, Microsoft Teams and Google Meet to come together, While the online world most times leads to real life (in person) collaborations, most people have grown uncomfortable and unsure how to make that happen again.  But we're changing the game.  Mogul Chix® is changing the way women in business network, connect & do business.I'm ready to kick off the in-person gatherings. Ready to start doing some real business as opposed to just talking about it.  People want action, not instruction. People want to do business and MAKE MONEY, not just talk about it. In this episode I talk about the two networking membership Mogul Makers™ Club and Mogul Circle™ Club.  If you're ready to shake up your networking, increase your business and build powerful, strategic relationships don't miss this episode.

Some people are thinking about raising their prices but are afraid to abandon the people that have always ridden for them. But in this game of business, you can't make important decision such as pricing based on emotion. Business is business, and I'll keep on saying that until the end of time. In the final analysis, good will is not going to pay the bills or allow you to retire. While it's OK to want to have a philanthropic heart, when it comes to your business, you need to do what's best for you, your team, your business and believe it or not, even your clients. Today I'm going to relieve you of all of the hesitations, blocks and fears you have around pricing for profitability. But first, ask yourself two questions:1) What does my business look like when I can't reach maximum profitability (what money and opportunities will I be leaving on the table)?2) And did I really start my business to create a job for myself or to build a legacy for my family?

Let me say this. There is nothing to fear in hiring. Some of you stay in your own way and are tripping yourselves up on that path to growth. I know, you have tons of excuses of why you can't or shouldn't hire. But I'm here to give you reasons you should; especially if you're trying to grow a multi-million dollar company. You simply cannot do the same things you did at $100K, $250K or even $500K when you're moving towards or already have a multi million dollar company. It simply doesn't allow for it. In today's episode, I want to ease your mind and remove all doubts regarding hiring. Stop sitting on the fence because it is literally making you leaving money on the table. Plus, I'm addressing those bootleg recruiting practices!  This podcast isn't for you if you're not looking to play bigger. 

They always say "Network Up". But everybody isn't always ready or in position to do that.Some folks are about to be mad at me, but this won't be the first or last time. This is a timely conversation. We ALL have to start somewhere. In my early days, I had to jump out and learn how to network the old fashioned way. Going to events, mixers and meetings. I didn't have social media (this was 1994). So I had no choice but to learn how to network up at the time. Getting into rooms, faking it until I made it...the absolute WRONG way and a way to set yourself up for failure quickly.If I had to start fresh and new from today, I'd do it differently. Don't get me wrong. I made powerful connections, learned a lot, did some business. But it was like a bootcamp experience for me. I didn't know what I didn't know. Had social media and the real internet (as it exists today) been around then, I would have taken a different approach in the beginning. I don't know if the internet and social media actually hurt or help because there's a false sense of security in networking on the internet. It almost makes you lazy. You see a profile, click, send friend request. And most times people leave it right there. But how do they build RELATIONSHIPS offline? Does it even matter? Of course it does.There are levels to this thing. And how fast you progress up those levels is individual. Some will get there faster than others. It depends on your end goals. 

I've always felt if real estate investors can get creative financing, business owners can offer creative compensation packages. There was a time when companies would predominantly offer commission based roles to their sales teams. A lot of people loved this because it was mostly uncapped earning potential. If there were high ticket items being sold, a great Sales Specialist could make a killing in earnings. I know, because part of hiring salespeople for clients includes a look at past W2s. But in a world of instant gratification and microwave living, how do you get people to accept a commission based role? Today I'll talk about how to make commission based roles work for your company, your budget and your employee.

In many Black & Brown communities, estate planning was not something we talked about as we were growing up. I mean, in MY family, estate planning was never a topic of conversation at the dinner table. None of my friends families were talking about it either. But my generation Gen Xers are talking about it. I started talking to my son about it when he was 14. Some people may say that a teenager isn’t interested in such talk. I say you’re wrong.  I don’t know about you, but the only time people in my family spoke about anything relating to an estate was who has insurance to cover the funeral. That’s sad. Well as an entrepreneur, a Mogul if you will, I want to make sure my assets are protected, but also that my son is 1) knowledgeable about my assets and 2) set to inherit them without a bunch of foolishness when I die. And don’t think estate planning needs to be a morbid conversation that’s left until you absolutely have to talk about it. Today my guest and I will be talking about how to have the tough conversations and set your family up for an easy transition. But first, ask yourself 2 questions:-       What happens if I die tomorrow, and my family is caught off guard?-       And, what does my estate plan look like?

When you're just starting out, growing and hiring people for your team can be a daunting task. But it's not impossible. As you grow and scale you need to be able to make smart decisions and make sound hiring moves in order to bring on the best people for your teams. A lot of small businesses struggle when it comes to hiring people for their team. There's a lot of sentiment that says, "hey, I can put an ad on Facebook or I can go to an indeed post or I can just put anything on social media saying, Hey, I'm hiring", and give some stipulations as far as applying for the position. But it's not that simple. A lot of people try to minimize the role of effective recruiting. Yes, we all need to hire the best talent. Yes, we want people that are going to be able to do the things that we need them to do at great prices. But as you grow, you have to be very mindful of how and who you hire. You have to look at your audience, your platform and your process, because it all matters. Today, I want to talk about the smart hiring decisions that you need to make in order to build out your team. But first ask yourself two questions. Am I making this job as appealing as I needed to be in order to hire the right people? And what does it take to be competitive in this market and be able to hire great talent?

Not everyone is at the same level in business. Some people are content with 6 figures, and that's OK for them. If you are them, this episode isn't for you. But if you're at 6 figures pushing for 7, or if you're at just about 7 figures and are stalled, this episode is for you.Throughout my years in business, I went through cycles. In each cycle I learned valuable business lessons that carried me through to the next level. Not always comfortable lessons, but lessons nonetheless. I learned the universal lesson of what gets you here won't get you there, and it certainly won't KEEP you there.There are some basic things every business needs to do as they're growing that are pretty much similar at each level. But what I learned was that while some things may be similar (staffing/hiring for example) they require different things to be effective.I've never really gotten vulnerable about what I do, did, or didn't do. My podcasts are usually to inspire, motivate, educate and uplift (with the occasional dragging LOL). But while I talk about The Mogul Circle, I also give insight into my frustrations and growing pains. Hopefully you'll relate or at least gain some perspective. Enjoy.And to apply for the Mogul Circle membership, please visit circle.mogulchix.com.

Make That Money! That's a long time mantra for any entrepreneur. But at what point do we go from thinking about sales and profits, to what we do with all of that profit? Sure we can invest it back into the business, and you know that investing in your own business is key. But we rarely think about real portfolio investment strategies. With so many resources on the market it can be dizzying to find what we need that meets us where we're at. But it doesn't have to be daunting. Today Keisha Bailey will be chatting with me about how women entrepreneurs can prepare themselves for building an investment portfolio, clearing out the mind clutter that comes with investing, and the steps you should take to get into investing.

Ladies, can we have some real talk for a moment? This is a long one! Women of color who are founders and/or entrepreneurs who are grossing 6 figures with their businesses, yes, I want to talk to you. This advice is applicable to almost anyone, but I want to talk to you!I LOVE that there are so many women doing the damn thing. I LOVE that so many women of color are taking their fate into their own hands and are on this journey to build legacy wealth to pass down through generations. You're bold, courageous and talented. Pre-pandemic, we were out there making it happen. But something shifted during COVID that paved the way to so many new entrepreneurs (male, female, Black, Hispanic, White, multiracial, you name it). We were all faced with having to make it happen. And people were making money.BUT can I ask a question? Girl, why are you limiting yourself? You are riding with the brakes on. I need you to take your foot off that brake and step on that accelerator.

Ladies look. Can we have some real talk here? We don’t start a business to create a JOB for ourselves. We create opportunities and provide solutions for our clients. We go into business for ourselves to make an impact, make connections and make money. And in the beginning, we’re fine with being everything for the business. Somewhere along the line though, we end up painting ourselves into a JOB. Yep, I said it. A JOB.  I don’t know about you, but I did not get into business for myself to be working by myself. I’m building COMPANIES. I am a CEO and that means that I’ve structured my companies in a way that supports a team and allows maximum work to get done for maximum profit while keeping some time to myself. But it wasn’t always like that. I used to think since it was my company and I knew what to do and how to serve my clients, that I didn’t need any help. HAH! I was so wrong. That wasn’t being smart. That was being driven by ego.  As I’ve matured as a business owner and I’ve learn to delegate and hire for maximum effect. I’ve freed up more time, serve my clients better and I truly call my own shots. I am a true CEO in every sense of the word. Wouldn’t you like to be one too? It’s time to slap life in the face and take what’s yours. It’s time to claim your rightful spot and BE a CEO. Today I want to just put it out there real and raw. Let’s talk about what it takes to delegate. Let’s talk about what it takes to get that mindset stuff together. Let’s talk about what it means to be in the driver’s seat while you build a dynamic team that can increase your profile and free you from the day to day…all while increasing your bottom line.  But first, ask yourself 2 questions: -       What do I really want for my life? -       And, what does my ideal team look like?