Behind The Scenes Of A Self Funded Business — BILLION DOLLAR ROLODEX Episode 47 with Ungenita Prevost

Billion Dollar Rolodex hosted by Ungenita Prevost is the podcast that brings you education, entertainment and fierceness in equal measure! This is a show designed to help women build social capital, fill their network gap and monetize effectively. The wealth of leadership lessons will enable a deeper level of mastery around the subject of networking, social capital, highlighting how to connect and collaborate strategically and effectively, making listeners realign focus from “Ms. Popular To Ms. Profitable”!  

This week on the show, Ungenita discusses social and financial capital, the ingredients black women business owners are missing now. She shares an article in MS Magazine focused on women of colour, that highlights that access to capital is still a significant obstacle, preventing women-owned businesses from leveraging valuable opportunities or, in some cases, even getting off the ground. She also shares that there are three types of female founders: a woman who raises capital; a woman who sticks to her guns and bootstraps until she can't go any further; and a woman who hits a plateau because she doesn't have the funds to grow. You will hear how businesses are funded. She shares that many don't understand what it takes to start a business. She says that the easiest way to monetize your network or brand is to invest in your own businesses: invest in people, mentors, marketing, and time.

In this episode you will learn:  

Access to capital is still a big hurdle preventing women-owned businesses from leveraging valuable opportunities. Ungenita shares what she’s learnt over the years about financial capital to help address this issue and educate women in business. Tips for funding a business. If you’re self-funding your business, spending an average of 25% of time on growth resources can create additional revenue. There are also partnerships available to new business owners. You can start a business with zero capital, if you have social capital. If you have the right people investing in you, they’re giving you resources and tips that will fuel the growth of your company. Strategic opportunities out there with corporations that drive growth. Partnerships that position your company in new markets are also some strategic opportunities you may want to take advantage of. Forming joint ventures by partnering with other people and groups. These are great chances for exposure and social media marketing and can be helpful to your business. 

This intelligent, provocative, sassy, sophisticated and eccentric podcast is on a mission to help 10 Million Women build social capital and monetize their networks. This is the show for those looking to break 6 figures but have Million Dollar + Billion Dollar Dreams; think of this as the Louboutin of Women’s Network podcasts. 

For more information on what was discussed on today’s show and to receive weekly written gold in your inbox, make sure you sign up for Ungenita’s  newsletter; www.FEMMEGlobal500.com.

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Key Takeaways:

Starting a business on only social capital is possible and is not less effective than having a lot of financial capital. Partnering with other people and forming joint ventures can be of great help to your business, gaining it exposure.

Resources

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