The Color of 2023 The Head of the Table

The Think In Color 2023 has officially ended! We're grateful and happy for the opportunity to take in our line-up of outstanding women as well as BIPOC makers and pioneers of the business. We'd like to think that by the end of the event you're inspired by our speakers' experiences and gained insight into how to build an effective virtual community, broaden your service offerings, and scale your business, among other things.

Though many different topics were addressed in the forum We've tried our best to share the best moments with our readers. Read on to learn what we took away from every speaker.

Skip ahead:

•    Creating Cozy & Collaborative Virtual Communities
•         Funds in the Funnel: How to Maximize Sales With a Customer-Focused Funnel
•         Increasing Both B2B and B2C Businesses to Multiple Revenue Sources
•         Designing Your Visible personal brand using video
•          Members - Memberships The Good, The Bad as well as The Ugly    
•         Head of the Table Panel Discussion

Creating Cozy & Collaborative Virtual Communities

Cicely Blain, anti-racism consultant and founder of Bakau Consulting

Session description: Although remote work existed before COVID-19 was discovered, it accelerated the need for businesses to shift to a virtual environment. By extension, businesses that were looking to keep a tight relation with their clients decided to set online communities in which the same-minded customers can benefit from and support one another. It can, however, be difficult to create a virtual community as close-knit like a physical one.

In this talk, Cicely Blain shares their journey to build their virtual community, Living Room. The group shared the method they use to create a cozy and welcoming vibe in a digital space creating safe and inclusive communities and utilizing digital tools to meet people's needs.

  The most important takeaways are:  

  Find out who your customer is and what they are looking for.  

Before establishing Living Room, Cicely had determine who they wanted to build the digital space for. Since their mission is founded in the fight against racism and oppression, Cicely was aware that the community will mostly be a target for people such as DEI professionals, consultants and HR professionals that do similar work.

Following, Cicely had to figure out what these people really were looking for.

      "I was thinking about, 'What are these folks looking forward to, in particular at these crucial times when so things are shifting, and they're being directed by different names?    

      People are certainly looking for a sense of community, of belonging, solidarity and connections even when they feel the feeling of. [They're also] looking for ways to connect and learning."  

  Be relevant to the people you are targeting.  

The best way to get members to join your virtual community is to provide them with something that they are able to relate to. For Cicely, that relatable thing was their living space. They were looking to recreate exactly the same cozy and comforting feeling that their living space gave them.

      "I thought, 'What do I want people to experience as they enter the space?' I thought, well, I want people to feel exactly the as they do when they enter an environment that is cozy and wholesome and inviting. I wanted people to feel relaxed, content and supported. They should feel connected and understood."  

Cicely imbibes this vibe to the world by:

• Beginning each meeting by allowing 10 minutes for reflection. The facilitators ask one simple questions on the screen in order to help attendees do an internal reflection.
• Soft music playlist based on R&B to help people relax and ease into the call.
• Engaging in each conversation as though they're having a light-hearted conversation with their closest friends. While recording video clips for the online class, Cicely might be doing makeup or making a cup coffee in their kitchen.

  Offer several ways for community members to get what they need  

While people who belong to an online community tend to be like-minded folks, they likely possess different requirements as well as strengths and weaknesses. In your own business, you'll need to figure out different ways through which you can meet the demands of your members, despite the differences.

With Living Room, Cicely met the demands of its community by:

• Engaging in various ways (e.g. live chat, forums for discussion as well as online-based courses that provide comprehensive information and more. );
• The definition of the community's values and guidelines;
• allowing people to dress up as their true selves;
• Eliminating unnecessary stresses, for example, time restrictions and agendas for meetings;
• Be aware of accessibility issues (e.g. disability and neurodivergence) and other.

Funds in the Funnel: Maximizing Revenues Using a Funnel that is focused on customers.

Ellie Diop, Content & Finance Coach at Ellievated Academy

Description of the session: In order to build your business to be successful there are customers who will buy your product or engage with your offerings. But, most companies make the error of creating content they think their ideal customers would want, instead of what their clients actually need. In this talk, Ellie explains how you will grow your business and maximize sales by creating the right funnel that entices the ideal customer and responds to their wants and needs.

  Key takeaways:  

  Every element of content has a role to play.  

A funnel that is focused on the customer is like forging a relationship with your clients. The best way to do this is to develop content that is informative, relevant, helpful, and useful for them. A funnel designed to be customer-focused has five phases:

• Awareness
• Discovery
• Consideration
• Conversion
• Retention + relationship + REPEAT

On the importance of creating material, Ellie declares, "Every piece of content that you produce is part in your team selling. What you wrote just three months ago, is performing the task of moving users through the process... Making sure you show up regularly with the same style creates a predictable tone that your clients can understand and help them navigate through the funnel."

  Clarify your brand  

If you don't know whom your goods or services are catering to, no one's going to buy from or hire your services. So before building a funnel, clarify your business's purpose and goals by starting with your ideal clients. You can ask yourself:

• Who do I serve?
• How can I assist them to solve?
• How do I do that?

These answers form the foundation of all your business decisions. Ellie offers a straightforward structure to help [YOUR TARGET AUDIENCE] to [YOUR PURPOSE] by your product or service

In her own experience with growing her business, Ellie says, "For myself, this could mean 'I help women to build profitable businesses through providing them with strategy and financial techniques '... In the past I kept this information on a sticky note up in the corner of my office, and whenever I decided to create a video, I remembered whom I was speaking with."

  Build your social media followers  

Social media is among the most successful ways to build brand awareness and generating leads for your company. It's so efficient that the majority of people will browse through the profile of your company's Instagram profile (or the other social media profiles) before they visit your site.

Hence, you need to put in the time (and maybe even funds) into your content for social media in order to boost its exposure. One way to do this is to:

• Making engaging, informative and sharing-friendly video content (especially videos)
• Paying for ads
• Collaboration with influencers who have a similar target audience as you

  Utilize lead magnets to expand your list of email subscribers  

While you're creating content the goal is to pull as many people off of social media onto your mailing list. When you sign-up people to your email list it gives the opportunity to interact directly with them, which is more valuable rather than just hoping that they stumble onto your videos and posts while scrolling through Instagram and X (formerly Twitter). That's where lead magnets can come in.

In the ideal scenario, when you use lead magnets you're handing out value for free to get people's details of contact (usually their name and email address). You can also ask for other things too. In the beginning of her company, Ellie offered free 1-on-1 sessions to customers to get reviews. She used those testimonials to get her first batch of paid clients.

      "You've gotta look at what is the aspect that I could provide an amazing free service that will make someone happy? Make that your primary draw. (In my own business) I recently made a change in which instead of taking the customer directly towards a particular item, we instead push the user to sign up for a free deal that is a free masterclass. Then we sell on the backend. Our results have been fantastic."  

  The process of keeping existing customers simpler than getting new customers  

With each new lead you acquire each lead you receive, you must go through the process of moving them through the sales funnel -- which is more challenging than convincing an already existing client to buy from you again. Therefore, you should focus on maintaining your customer just as much as and if not more than acquiring customers.

To retain your customers, here are some tips to follow:

• Provide high-end customer service
• Use customer surveys to get feedback
• Collect testimonials from pleased clients (offer incentives, if you can)
• Create a new product that will fill market gaps

In creating the new offer, Ellie shares, "I have created my very first business credit class at 15 dollars. After that, I began to hear feedback on what [my customerswould like to see the next. Then I created the Business Credit revamped. Then I created my Business Credit masterclass, and later the complete package. What happened is, a majority of the people who bought the first one then bought the next one to make up the missing pieces. They then bought the third because they were advancing in their skills, they wanted to know more."

Growing both B2C and B2B Businesses with Multiple Revenue Sources

Jessica Chen, Global Communication Expert and CEO of Soulcast Media

Description of session: Businesses generally speaking, have three primary revenue and sales determinants: their products/services, the content they create to describe those products/services as well as the platforms through the channels they share their information. In this session, Jessica discusses the power of LinkedIn to assist businesses in connecting to both clients (B2C) and other businesses (B2B), how to make your content appealing to both groups, and ways to enhance the range of services you offer for both audiences.

  LinkedIn is a powerful way to share content on LinkedIn and grow your visibility  

Many business owners and professionals are on LinkedIn, they don't consider LinkedIn a platform on which you increase your exposure and share contents. Instead, they view it as a platform to update resumes, find job opportunities, and communicating with friends and acquaintances.

In real life, LinkedIn is a social media platform just like Instagram or X (formerly Twitter), and it should be treated as such. Only difference is the kind of content that you post.

The appeal of LinkedIn, Jessica says, "The benefit of this platform is this: You're reaching a particular set of audience who is engaged in the process that is focused on professional growth and are eager to learn."

Jessica also shares her journey from speaking about her experience as a journalist in 2018 to becoming a certified Top Voice and a LinkedIn instructor in just five years. The reason she explains this is posting consistently on the platform and connecting with a wide variety of audiences that can profit from her services to help people improve their communicating abilities.

  Modify your message to fit both B2C as well as B2B audiences  

Many business owners believe that they'll only get noticed when their content is targeted to consumers who are merely individuals. But this isn't the case.

The power of LinkedIn is that it allows users to modify their messaging so that it can be tailored to B2C and B2B audiences. Your offer doesn't need to be changed, however changing your language used to describe your company can increase the visibility of your business and draw individuals and companies.

"I am aware that in order to talk to a B2C audience I use language like 'you', 'your' and have you thought of it? ...?'""you"?" asks Jessica. "My language is direct so those who are reading the content feels like it's personal.

      "[With an audience that is B2Binstead of using 'you' or 'your', I'm now framing my talk by saying things like, 'the team' and 'the organization'. It's more positive-driven and [less personal]."  

  Position yourself as a thought-leader in order for B2B customers.  

Unlike individual customers who only desire a top-quality product, B2B audiences want to be sure that you're the real deal. To attract their attention, you'll have establish yourself as an expert or thought leader within your area, even if your offer is generally geared at B2C customers.

For example, if you're an artist, you could develop and market courses in photography for your B2C customers. To get B2B leads, you can create thought-leadership content working in the field of arts or about building a career as an artist. Also, if you are offering 1-on-1 workshops that teach people how to be more productive, you can appeal to B2B audiences by posting content about improving workplace productivity.

This way, you can move from selling B2C items like e-courses or 1-on-1 classes, to providing events and speaking opportunities.

Making a personal brand using video

XayLi Barclay, Expert as well as Visual Content Coach with Start Shoot Expand

Description of the session If you're an owner of a business you can not be noticed, especially when you sell in a saturated sector or market. However, you can get over the feeling by establishing an image for yourself through video content, such as short TikTok clips, Instagram Reels, or lengthy YouTube videos. In this presentation, XayLi explains how you can make use of video content to help promote your online courses as well as to generate sales. build your brand's reputation within the minds of your clients.

  It doesn't take much in order to begin.  

In the process of making your first livestream or launching your first livestream, not everything has to be perfectly. It's okay to start with what you have. At the start, people will accept your poor quality video and poor editing skills because they know that, over time, you'll become better.

XayLi herself started by using a laptop, an easy white background, along with a light bulb that is run-off-the-mill.

"This is the place where I got my start and even got approached as one of their experts" she says. "I did not wait until I set up my newsroom to begin teaching others. I made use of what I had because I realized that the things I wanted to share was not just about how stunning the set would look.

      In the present, I have a full built-in studio in my home, but this is where I started a few years in the past."    

  You will receive more resources as you advance  

If you start to see increased visibility from your videos and generate money, it's possible to begin expanding your equipment and upgrade your video equipment. As an example, you could buy a more powerful camera or webcam as well as a tripod stand (worth around $500-$1,000) and a green screen, E-Camm Live as well as a teleprompter software, and the Adobe Premiere subscription for editing.

Speaking out equipment and set upgrades, XayLi explains, "[At this stage] there are many camera angles, and the list goes on. It's time to start investing in those things because you're earning money. Many of us believe that we have to be attractive before we can earn money. No. It is necessary to go out there, and then the money will start coming in."

When you start making enough money, you can begin outsourcing the recording of your videos edits, distribution, and recording to contractors or an internal team.

  Concentrate on just one thing at the moment  

There's a common misconception that you need to take every step to grow your business: post on every channel, hop into every trend and discuss a variety of topics. However, this isn't always true. It's much better to focus on one thing one at a time while you develop your image. It not only stops you from burning out and wasting time, it also lets the viewers know what they can expect from you every time you post a video.

Based on XayLi Barclay's "Rule of 5 Ones", here are the five things to focus on in establishing your digital plan of action:

• One product or service
• One possible market
• One lead converter tool
• One main traffic source
• One objective for business

Memberships - Memberships - The Good, The Bad, and The Ugly

Teri Ijeoma founder of Trade & Travel

Description of the session: If done right, memberships are a great way for businesses to forge deeper relationships with their customers, as well as generate extra revenues. Teri Ijeoma has created an online membership platform for Trade & Travel and she currently has more than 35,000 participants taking her classes and over 185,000 subscribers to her email list. In this session, Teri shares the benefits from establishing a program for membership as well as explains how businesses can set up and use to create memberships in a way that is effective.

  Know when to transition from a group that is free to a paid membership model  

If you're not a very popular business, chances are that you'll have to begin your membership plan by providing worth for nothing. Teri created her own by creating a Facebook group for free. But, as you build your community, you need to know when to transition from a no-cost community into a paid-membership model.

Here are some indications you should be looking for prior to making a pivot:

• The group you are working with is growing in size, but members only pay a one-time fee for your service -- instead of paying for any additional benefits that the group offers, e.g. year-long customer support, etc.
• The group members begin their own groups or meetings, which makes it difficult to oversee the group's administration.
• Group moderators are hired as coaches who provide coaching for group members with no additional revenue generated from your members.

  Your membership program is a product that is an item in and of its own  

Many businesses that create online courses also offer membership plans as an add-on to those courses. While membership programs are an excellent way to make your courses more effective however, it should be treated as an actual product- not a mere add-on.

When discussing her Trade & Travel membership, Teri acknowledges "In early on, I believed that it was a continuation of my training. It's not the case -- the membership is a service all by itself. It needs its own marketing team, promotional, marketing schedule... it's best to be thinking of it as a product itself."

  Make sure you are aware of your pricing  

If you're transitioning from a free group to a paid membership model, think about what your income goal is and then price your product according to that. At this stage, it's easy to price your product lower in order to draw more people. But if you're sure that your program's packed with value, don't be afraid to ask for a premium rate to get it.

For example, if your goal is to make the equivalent of $10,000 per month, it's more beneficial to have 500 people pay $200/month than to get 1,000 people to pay $100/month. The higher your rates are, the less people are likely to sign up. But this also means that you'll hit your income goals faster, while finding it relatively easier to manage the program.

Head of the Table Panel Discussion

Diandra Marizet (Host) The Executive Director & co-founder of Intersectional Environmentalist

Session description: This panel discussion includes panelists Cicely, Ellie, Jessica, and XayLi giving their opinions on the importance of inclusivity and diversity in the entrepreneurial space, the difficulties women and BIPOC entrepreneurs face when they enter the economy of creators and the best way to price their products ethically in a capitalist environment.

Here are a selection of the most poignant questions and answers in this debate:

  Many women of color entrepreneurs are coming into financial stability for the first time. What are the challenges, new problems, and opportunities do this bring?

Ellie Diop: Just like you've experienced poverty trauma There's also wealth trauma too. If you're one of the few within your family who owns the 6- to seven-figure company, there's not any examples for you to emulate. There's still a stigma around speaking about money, specifically when you're a person with a different race earning more than most people see in a lifetime.

As an example, after I earned my first million, I was anxious to get out of my mom's home. I was reluctant to invest the money since I wasn't sure what I would be doing if I lost it. I also was afraid to inform my family members because I was worried they'd think differently of me.

One thing I'd like to see more of is collaborative areas like this, which can eliminate that stigma and say "Hey, what's going on? If you're worried about earning money and what to spend your earnings Don't be shy to talk about it". Allowing that stigma to continue is a reason why it is common for people to make a lot of money and later return to the point at which they began.

  Oftentimes, in business settings there is a need to assimilate, code-switch, remain silent, or put certain aspects of us aside. We may not always think that we belong to the concept of professionalism. Did that experience influence the way you interact with the community you live in and how you apply that to the liberating work you do as an DEI professional?

Cicely Blain: In the media systems we were raised in and where we are seeing a certain kind of person on TV, media as well as social media and when certain online creators have a lot of traction and others are banned from shadows, it is easy to believe that you need to conform to a certain manner of speaking and being.

In the event that you are in a position that you're recognized for what you really are by your peers and people in authority (even when they may not have the same experiences that you) is truly liberating. But, even though representation is increasing and opportunities are more readily accessible, there's a double standard as to what people are expected to do. Sometimes we internalize those two norms (even though they might not be true) and they hold us back.

For example, on TikTok the majority of users don't show up neat and well-dressed constantly. Though it's great but I'm of the opinion that that chance is available only to a select few who have a greater expectation of others, and in the manner they present themselves.

  If you are faced with the dilemma of deciding that the path you're on isn't in line with your capabilities to take you and what your passion is, and then take the step of transitioning to full-time business ownership?  

Jessica Chen: All of us will reach a point in time reach where we realize that what we were hoping to accomplish is now over and we're now ready to try some new challenges. For me I had a wonderful job I loved, but after 10 years, I was a bit disappointed that there wasn't more available. I've always been the kind of person to create my own way. Then I considered how I can pass along the techniques I've learned to other folks.

I started out as a journalist, which may consider to be a "proper" career where you can't share your opinions, you aren't able to express yourself, and you're just sharing stories of other people. It was quite a shock to begin creating my own voice, and to show my personal style. That was definitely a learning curve.

  What is the best way to price your services or products so that you can attract customers who are aligned, ready to learn from you, and recognize the value of your offering?

XayLi Barclay: A lot of the time we offer low prices, but we overwhelm those investingwhich is a shame for the investor. It's tempting to believe that there will be a large number of customers if you set your price low. However, chances are, you're getting overwhelmed people who aren't ready to act.

I worked with a business coach to figure out the amount I could make, and that determined my prices based on volume. There are many creators that launch an online course for $7 and earn six figures from that course, but they have enough volume. If you're a less experienced creator, it's essential be aware of what your goals are as a business so you're able to set prices accordingly.

If I offer 5 online courses for $1,000 each course, I'll earn $5,000. This is in contrast to selling 500 courses at $10 per course. Consider it this way. It's what I needed to undergo.

Watch the sessions of Think in Color 2023 on-demand

Here's the scoop an overview of the most important insights from the three-hour-long event created for both budding and veteran entrepreneurs operating in the economy. We encourage you to dive further into the subjects that have piqued your curiosity.