Tiffany James , a 27-year-old African American woman from New York City, is the founder of Modern Blk Girl, which helps educate women on how they can build wealth through investing. James was inspired to launch this venture and share her knowledge after she turned a $10,000 starting investment in the stock market into $2 million in just 2 years. Read more about her investing journey and her commitment to educating women about building wealth in this article in Black Enterprise.
Monique Rodriguez, self-made millionaire and founder of Mielle Organics, founded her natural hair care brand in the wake of losing her son at eight months of pregnancy. She decided to leave her career as a nurse and pour her energy into her startup which would also enable her to cope with her post-partum depression. That creative outlet that helped her get through the trauma of losing her son has become a multimillion-dollar brand sold in over 100,000 stores across the U.S.
Rodriquez mentions that the best career advice she’s ever received came from her husband who said, “Success, if not owned, is rented — and rent is due everyday. Don’t get complacent, don’t get comfortable, and never feel like you ‘made it.’ Because when you get to that place, there’s always someone trying to take your spot. You have to continue working and striving as if you know [your spot] is not guaranteed.” To read more about Rodriguez’s journey, check out this piece on CNBC.
According to this piece in Fast Company, during 2021 alone, over 5 million new companies were registered in the US alone which is an increase of 23% over the previous year. While some of this increase can be attributed to the impact of the global pandemic, research is suggesting that education is playing a role as well.
While some experts have felt that continuing education is more about “signaling rather than skill development”, this new research is providing evidence that additional years of post-high school education can boost self-employment in high-growth industries. Research goes on to point out that, “for women, education may have an even greater impact on encouraging them to jump into entrepreneurship by increasing their confidence in addition to their skills.”
Education is certainly something we believe in at the Institute! If you (or someone you know) would benefit from our free 12-week entrepreneurship certificate program, go to this page and click the “Join the Waitlist” button. We enroll on a quarterly basis and reach out to those on the notification list in the order that they are there.
Researchers from Harvard University; Boston University School of Medicine; Kaiser Permanente; UC Davis; UC San Diego; and Brown University explored the link between optimism and longevity in a 150,000 racially diverse women ages 50–79. Scientists found that women with the most optimism lived 5.4% longer (approximately 4.4 years) than the least optimistic women. Optimistic women were also more likely to achieve “exceptional longevity” which is defined as living to be 90+. One of the most interesting items to note is that these trends were consistent across all racial and ethnic groups of women. So if you are making a resolution for 2023, consider practices that impact your optimistic outlook! To read more about this research, see this link in the National Institute on Aging.
This October 2022 article from Fast Company explores the topic “How To Find A Job That Energizes You Rather Than Drains You”. The author shares that while many people are in situations where they may not have the luxury of being particular about what job they have, if you are fortunate enough to have flexibility in your career path, you should seek tasks in your job that fill you with energy. He goes on to state that finding that energy might not require a radical change, like quitting your job. Instead, it might simply involve a conversation with a manager about ways to change up tasks and projects – or you could look outside your full time job for an activity or side gig that excites you.
In this article from Inc., four separate successful women (Oprah Winfrey, Melinda Gates, Dolly Parton, and Suneera Madhani) all share that their most important piece of advice for being successful was to be yourself. According to the piece, “Giving yourself a surface polish can pay off. But faking it when it comes to core aspects of your personality and background is exhausting and distracting. You’ll never have the energy to make it to the top if you’re frittering it away pretending to be someone you’re not”
As we head into Thanksgiving this week in the US, many families will be gathering around tables where multiple generations are present. In this interview and podcast from NPR’s Life Kit, Pamela Jolly, founder and CEO of the strategic investment firm Torch Enterprises shares thoughts on what generational wealth includes and how to create structures in which it can be shared. Specifically, Jolly states that wealth isn’t just about cash. It can be whatever you want it to be – from your relationships to your education and knowledge to the things you own – “wealth” can be anything you can pass down to make your mark on the world.
Srishti Mendhekar and Priyansha Mishra are the founders of On Her Way, a platform that connects women travelers to a local woman who can help them awareness about safe spaces and general information about the area. “Women have needs and issues, which can be broadly categorized into safety and hygiene, and no one is solving that. The current travel ecosystem is made by men for men. We want to change that,” says Srishti. Read more by accessing an article about how they founded their startup in YourStory.com.
The “pink tax” refers to the extra money women that are routinely charged for personal care products, services and clothing. While it may only seem like a few dollars difference here and there, when added up over a lifetime, this article in GoBankingRates states that the total can exceed $500,000! To see a breakdown of where the pink tax hits women the hardest, click the link to access the article.
Many successful individuals – especially women – struggle with negative self-talk (sometimes referred to as having an Inner Critic). In this podcast from NPR’s Lifekit, Joy Harden Bradford, Ph.D., an Atlanta-based clinical psychologist and the host and founder of Therapy for Black Girls, shares several strategies to tame those voices. From reframing how you speak to yourself to reducing the time you spend doom-scrolling on social media, her tips are a worthwhile listen!