The Color of 2023 The Head of the Table

Think In Color 2023 has officially come to an end! We're thankful and pleased for you taking the time to take in our line-up of brilliant females and BIPOC creators and innovators in the field. We'd like to think that by the end of the evening you're inspired by our speakers' experiences and gained insight into how you can build a powerful virtual community, broaden your service offerings and grow your business in addition to other aspects.

Although many topics were covered in the forum We've tried our best to bring the highlights to you. Read on to learn the key points we learned from every speaker.

Skip ahead:

•    Creating Cozy & Collaborative Virtual Communities
•         Funds Inside The Funnel: How To Maximize Sales With a Customer-Focused Funnel
•         growing both B2B and B2C Businesses to Multiple Revenue Streams
•         Making a visible personal brand using video
•          memberships Memberships The Good, The Bad, and The Ugly    
•         the Head of Table Panel Discussion

Creating Cozy & Collaborative Virtual Communities

Cicely Blain the Anti-Racism Specialist & Founder of Bakau Consulting

Session description: Although remote working was a reality prior to COVID-19, the epidemic accelerated the necessity for companies to move to a digital location. As a result, those who wanted to maintain a close relation with their clients decided to set online communities in which similar-minded individuals can share their knowledge and help each other. But, it's hard to make a virtual community as close-knit like a physical one.

In this session, Cicely Blain shares their experiences in creating their online community, Living Room. They discussed the method they use to create an inviting and cozy atmosphere within a virtual space, developing inclusive and safe communities, and using the internet to cater to 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 identify the audience they were attempting to design a digital environment to. Because their work is rooted in the fight against racism and oppression, Cicely was aware that the community will mostly be a target for people who are DEI experts, consultants and HR professionals that do similar tasks.

Following, Cicely had to figure out what the people actually desired.

      "I considered what these people are seeking, especially in this moment of change, when many things are shifting and they're being directed differently?    

      Folks are definitely yearning for community, a sense of solidarity, and connection when there's a feeling of being isolated. They're also looking for ways to connect and learning."  

  Be relatable to your audience  

The most effective way to convince people to join your virtual community is by giving them something they can relate to. For Cicely, that relatable thing was their living room. They sought to replicate the similar cozy and comfortable atmosphere that their own living room gave them.

      "I wondered, "What is it that I want people to experience in the space?' I thought, hey I'd like them to feel the same as they do when they come into a physical space that's cozy and wholesome and inviting. I wanted them to feel relaxed, content as well as supported, connected and seen."  

Cicely imbibes this vibe to the world by:

• Starting off each virtual meeting with a 10 minute reflection. They ask a simple question on the screen for participants to engage in self-reflection.
• Playing a soft R&B-inspired playlist that helps listeners relax and get comfortable with the conversation.
• Engaging in each conversation as though they're having a light-hearted conversation with the closest people. Even while making videos for their online class, Cicely might be doing makeup or making a cup coffee in their kitchen.

  Provide a variety of ways for members of the community to obtain what they need  

While the members of a virtual community are ideally like-minded folks, they likely possess different requirements as well as strengths and weaknesses. In your own company, you'll have to discover different ways in that you are able to meet the demands of your members regardless of their individuality.

Together with Living Room, Cicely met the demands of its community through:

• Offering various forms of engagement (e.g. chat forums, live discussion and online classes that are comprehensive, etc. );
• The definition of the community's values and guidelines;
• allowing people to dress up as their true selves;
• Removal of unnecessary stressors such as time constraints as well as meeting agendas
• Considering accessibility needs (e.g. disabilities and neurodivergence) and other.

Funds in the Funnel: Maximizing sales with a funnel that is focused on the customer.

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 take a purchase or use your services. Many enterprises make the mistake of creating content that the ideal customer would prefer rather than what their customers really want. In this talk, Ellie explains how you can increase your sales and increase sales by creating an effective funnel to attract the ideal customer and responds to their wants and needs.

  Principal takeaways  

  Every piece of content is important.  

Building a customer-focused funnel will help you build a rapport with your customers. The most effective way to achieve it is by creating material that is educational, relevant, helpful, and valuable to your customers. A customer-focused funnel consists of five phases:

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

When it comes to the value of writing content, Ellie states, "Every piece of content you create is a member of the sales staff. Therefore, whatever you published three months ago is still doing the job of moving people down this process... Being consistent and presenting regularly with the same tone creates something predictable that your clients can understand to help them move along the sales funnel."

  Make your brand clear  

If you're not sure who your products or services target, there's no way anyone will purchase from or hire them. Therefore, before you build a funnel, define your brand's mission and purpose, starting from your ideal clients. You can ask yourself:

• Who do I serve?
• What can I do to help them with their problem?
• What can I do?

The answers to these questions provide the basis for the business decisions you make. Ellie proposes a simple model that can be used to assist [YOUR TARGET AUDIENCE] to meet [YOUR GOAL] with the use of [YOUR PRODUCT/SERVICE]

Based on her experiences with growing her business, Ellie states, "For myself, this could mean "I support women to create profitable businesses through providing them with strategy and financial skills '... For so long, I had this on a sticky note up in a corner, so whenever I decided to record a video I remembered whom I was speaking to."

  Build your social media following  

Social media is considered to be one of the most successful digital platforms for creating the brand's reputation and driving leads for your company. It's so effective that most users will look through your brand's Instagram profile (or your other social media profiles) before they visit your site.

Therefore, it is important to invest money (and perhaps money) in the content on social media to increase its visibility. One way to do this is to:

• Making engaging, informative and easily shareable content (especially video)
• Running paid ads
• Working with influencers that have the same target market as you

  Use lead magnets to build out your email list  

While you're creating content you want to bring the maximum number of people who aren't on social media on your list of email subscribers. If people sign up to your mailing list it gives you a way to communicate directly with them -- that's more beneficial rather than just hoping that they stumble into your posts and videos as they scroll through Instagram or X (formerly Twitter). This is where lead magnets can come in.

Ideally, with lead magnets, you're giving out value for free in exchange for people's contact information (usually their name and email address). You can also solicit other information as well. In the start of her business, Ellie offered free 1-on-1 sessions to customers to get reviews. Ellie used the testimonials she received to get her first batch of clients who paid.

      "You've to think about what is the area that I can deliver great free value that'll make someone happy? and make that your main draw. [In my business], I've recently implemented a new strategy that instead of directing the customer directly towards a particular item, we instead push customers to take advantage of a complimentary offer that is a free masterclass. We then sell it on the back end. We have had great results."  

  Maintaining customers who are already there is simpler than getting new customers  

With each new lead you get, you need to follow a process for driving them along the sales funnel. This is a lot harder than convincing an existing client to purchase from you once more. Thus, focus on retention of customers at the same level, if not more, as you do customer acquisition.

To keep your clients, here are some steps to take:

• Deliver high-quality customer service
• Use customer surveys to collect feedback
• Collect testimonials from pleased clients (offer incentive programs, when you can)
• Create a new offering that can fill in the gaps in the market

In creating the second deal, Ellie shares, "I have created my very first business credit course for just $15. In the meantime, I was getting feedback on what [my customers] need in the future. This led me to create Business Credit, which is Business Credit revamped. Then I created my Business Credit masterclass, and after that, the whole collection. What happened is, a majority of those who had purchased the initial one purchased the second to make up the missing pieces. Then, they purchased the third version because they advanced in their skills, they wanted to know more."

Growing both B2C and B2B Business to generate multiple revenue streams

Jessica Chen, Global Communication Expert & CEO of Soulcast Media

Description of session: Businesses generally, are governed by three major sales and revenue determinants: their products/services and the content they produce to describe those products/services as well as the platforms through which they distribute their information. In this talk, Jessica discusses the power of LinkedIn in helping businesses connect with customers (B2C) as well as other companies (B2B) How to create content that appeals to both types of audiences and the best way to grow the range of services you offer for both audiences.

  LinkedIn is a powerful platform to distribute content and boost your profile  

Although many professional and business owners are on LinkedIn however, they aren't considering it as a platform through which they can grow your visibility and distribute contents. Instead, they regard it as a platform for updating resumes, finding new jobs, and only making connections with those you already know.

In fact, LinkedIn is a social media platform, just like Instagram and X (formerly Twitter), and must be treated in the same way. Only difference is what kind of content you post.

The appeal of LinkedIn, Jessica says, "The beauty of the platform is that it reaches a certain set of audience who is at a point of personal development and eagerness to learn."

Jessica also explains how she grew from talking about her experiences as a journalist in 2018 and then becoming a accredited Top Voice and a LinkedIn instructor in five years. She chalks this up to posting consistently on the platform as well as connecting with a range of people who can profit from her services to help people improve their communicating skills.

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

Most business owners believe they'll only get noticed by limiting their content to individual consumers. It's not the case.

The power of LinkedIn is its ability to allow the user to alter their message so that it can be tailored to B2B and B2C audiences. Your offer doesn't need to be changed, however changing the language you use to describe your business can improve your exposure and help you attract individual consumers and businesses.

"I have found that, in order to talk to my B2C audience, I prefer using words such as "you," "your" and have you ever thought about ...?'""you"?" asks Jessica. "My style of speaking is clear, so the person that reads the information feels it's their own.

      "[With an audience that is B2BInstead of using 'you' or "your", I'm structuring my presentation by using things like, 'the team' and 'the organization'. It's more positive and [less personal]."  

  Position yourself as an thought-leader to appeal to B2B audiences  

Unlike individual customers who only desire a top-quality product, B2B customers are looking to ensure that you're the real deal. In order to attract their attention, you'll have to position yourself as an expert or thought leader within your area, even if your offer is generally geared towards B2C audience.

If, for instance, you're an artist, you could develop and market an online photography class for your B2C market. However, to gain B2B leads, you can post thought leadership material about having a career in the arts or about building a career by being an artist. If you provide one-on-one classes teaching individuals how to become more efficient and efficient, you could appeal to B2B audiences by posting articles about improving productivity in the workplace.

This way, you can go from selling B2C items like e-courses or one-on-one classes to offering events and speaking opportunities.

Crafting a Visible Personal Brand through Video

XayLi Barclay expert and Visual Content Coach for Start Shoot Develop

Session description If you're an owner of a business, it's easy to not be noticed, especially when you're selling in a crowded sector or market. You can combat the feeling by establishing your personal brand with videos, whether it's small TikTok videos, Instagram Reels, or lengthy YouTube videos. In this session, XayLi explains how you can make use of video content to advertise your online course to increase sales and establish your name within the minds of your customers.

  You don't need too much to get started  

When creating your first video or creating your first livestream, not everything has to be perfectly. It's okay to start with what you already have. At the start, people will accept your poor quality video as well as your poor editing abilities since they are aware that as time passes, you'll be more proficient.

XayLi herself started using her laptop, a simple white backdrop, as well as a ring light that was ripped from the mill.

"This was where I began and even got approached to be one of their experts" she declares. "I was eager to wait until I had the newsroom set to begin teaching others. I made use of my resources because I knew what I wanted to teach did not revolve around just how beautiful your setup could be.

      Now I've got a complete built-in studio in my home, but this is my first attempt at HTML0 a couple of years in the past."    

  Get more resources as you get more  

If you start to see increased visibility from your videos and generate revenue, it's time expanding your equipment and improve your video equipment. For example, you can get a better camera/webcam and tripod stand (worth between $500 and $1,000) and a green screen as well as E-Camm Live and a teleprompter application along with a Adobe Premiere subscription for editing.

When it comes to the latest equipment and setting upgrades XayLi clarifies, "[At this stage], you can have multiple camera angles and so on. You can start investing in these items because you're making cash. We [often] think that we need to look good before we can earn money. No. It is necessary to go in the marketplace, and the money will come."

Once you have earned enough cash, you may outsource your video recording edits, distribution, and recording to freelancers or an in-house team.

  Focus on only one thing at a given time  

It's easy to believe that you need to take every step to grow your company: publish on every channel, hop into every trend and talk about several topics. However, this isn't always true. It's better to concentrate on a single thing at a time as you develop your brand. It not only stops you from burning out and wasting time, it also lets the viewers know what they can look forward to each when you upload videos.

According to XayLi Barclay's "Rule of 5 Ones" These are the five key elements you should be focusing on when defining your digital strategy

• One item or service
• One target market
• One lead conversion tool
• One main traffic source
• One business goal

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

Teri Ijeoma founder of Trade & Travel

Session description: When done right, memberships are a great way for businesses to develop deeper connections with their customers as well as generate extra revenues. Teri Ijeoma has created the membership program that she developed that focuses on Trade & Travel and she currently has more than 35,000 participants in her courses and 185,000 subscribers to her email list. In this session, Teri shares the benefits of creating a membership program and provides a step-by-step guide on how companies can establish and utilize to create memberships in a way that is effective.

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

If you're not a popular business, chances are you'll be required to launch your membership program by offering value for free. Teri began her membership program by creating a Facebook group for free. As you expand your community, you need to be aware of the time to move from a free community into a paid-membership model.

Here are some indicators to be aware of prior to making a pivot:

• The group you are working with is growing in size but the members pay an annual fee to receive the service you offer, instead of paying to cover the other benefits the group offers, e.g. year-long customer support, etc.
• The group members begin their own groups or meetings, which makes difficult the group's administration.
• Group moderators are hired as coaches to provide consulting services to group members, and not generating any additional income through your group members.

  Your member program is a service in and of its own  

Some companies who create online courses also offer membership programs as add-ons to those classes. Although a membership program can be an excellent way to make your course more attractive however, it should be treated as a complete productit's not just a gimmick.

When discussing Teri's Trade & Travel membership, Teri admits "In the beginning, I believed that the membership was an extension of my training. It's not the case -- the membership is a service completely on its own. It should have its own team, promotion and marketing plan... it's best to be thinking of it as an actual product."

  Be intentional with your pricing  

When transitioning from a free group to a paid-membership model, think about the income goals you have and price your offer on the basis of this. It's possible to make your offer lower to get more members. However, if you're confident that your program's full of value, don't be afraid to charge a premium price for it.

If, for instance, your aim is to generate 10,000 per month, it's more beneficial to make 500 people agree to spend $200 a month than 1,000 people to pay $100/month. It's true that the higher your rates are, the less people would sign up. This also means you'll reach your goals for income more quickly, while also finding it easier to handle your program.

Head of the Discussion Panel for the Table

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

The description of this panel discussion features speakers Cicely, Ellie, Jessica and XayLi discussing their views regarding the importance of inclusiveness and diversity in the entrepreneurial space, the difficulties women as well as BIPOC business owners face as they seek to establish themselves in the creation economy, and how to determine the right price for their goods ethically within a capitalist system.

Here are a few of the most poignant questions and answers in this conversation:

  Many women of color entrepreneurs have reached financial stability for the first time. What challenges, emerging issues and opportunities does the future hold for them?

Ellie Diop: Just like you've experienced poverty trauma There's also wealth trauma also. If you're the only one in your family to own 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 for people of color making more money than the majority of people do throughout their lives.

For example, when I first made a million, I was anxious to move out of my mom's house. I wasn't ready to commit the money because 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 concerned that they would think differently about me.

Something I'd like see more of is collaborative areas like this, which can eliminate this stigma, and state "Hey is something going on? If you're stressed about making money, and what you should use your earnings, don't be afraid to talk about it". This stigma is part of why it is common for people to make a lot of money and then go back to where they were.

  In business environments, often it is easy to feel the pressure to blend, code-switch, keep quiet, or even put certain aspects of us aside. There are times when we don't think that we belong to the concept of professionalism. Did that experience influence how you serve your local community? How do you apply that to the work that you enjoy as DEI professional? DEI professional?

Cicely Blain: With the system we have been raised on, when we see a certain kind of person on media, television, and social media, as well as when certain creators on the internet have a lot of traction and others are shadow-banned, you start believing that you must be a certain manner of speaking and being.

If you can find a place where you are seen for who you truly are, by your peers and those in charge (even if they don't have similar experiences to you) it's a great feeling. But, even though representation is increasing and opportunities are more readily available, there's still a double standard as to the way people show up. We sometimes internalize these double norms (even when they could not be real) and they hinder us.

For example, on TikTok there are a lot of people who don't show up well-dressed and polished all the time. Though it's great but I'm of the opinion that that possibility is limited to a select few as there's an elevated expectation of others, and in the manner they portray themselves.

  If you are faced with the dilemma of deciding that the path you're on doesn't align with your capabilities to go and where your passion is, and then take the step of transitioning to full-time entrepreneurial?  

Jessica Chen: All of us reach a stage in our lives get to where we realise the goal we set out to accomplish is now over and we're now ready to try some new challenges. Myself I was working in a wonderful job I loved, but after 10 years of working, I realized that there was something more to offer. I've always been the kind that creates my own career path. Therefore, I began to think about ways I can pass along the techniques I've acquired to others.

My initial career was in journalism, which you may consider to be the only "proper" career where you can't share opinions. You don't have your own voice as you're telling other people's stories. It was an upsetting transition to start creating my own voice and showing my personal style. This was definitely a growing steeple.

  What is the best way to price your services or products to attract people who share your values, are eager to learn from you, and recognize the value of your offering?

XayLi Barclay Says: Lots times, we set prices low however we can overwhelm those investingwhich is a shame for the investor. It's tempting to believe that there will be a large number of people if you price cheap, but the reality is, you're getting overwhelmed people who aren't ready to make a decision.

I hired a business coach to figure out the amount I should be making which then determined my pricing based on quantity. It's common for creators that launch the course at $7, and then make six figures from that course however they don't have the volume. If you're a small-scale creator, you need to know what your goals are as a business so you are able to price your product accordingly.

If I can sell five online courses at $1,000 per course, I'll earn $5,000. This is in contrast to selling 500 courses for $10 per course. Think about it that way. This is the procedure I had to go through.

Watch the sessions of Think in Color 2023 available for on-demand

There you go -- the key insights that were gleaned from this three-hour long event for budding as well as established entrepreneurs working in the creation economy. We encourage you to dive deep into the topics that piqued your interest.