The Color of 2023 The Head of the Table

Think In Color 2023 has officially been concluded! We're grateful and happy for the opportunity to listen to our lineup of brilliant women and BIPOC makers and pioneers of the industry. We'd like to think that by the end of the evening you're impressed by our speaker's journeys and learned how you can build a powerful virtual community, broaden your service offerings, and scale your business in addition to other aspects.

While many subjects were discussed during the conference however, we've made every effort to present the best of them to the attention of. Learn more about what we took away from each of the speakers.

Skip ahead:

•    Creating Cozy & Collaborative Virtual Communities
•         Funds In The Funnel: How To Maximize Revenues Using a Funnel that is focused on customers.
•         Growing Both B2C and B2B Businesses for Multiple Revenue Sources
•         Crafting a Visible Your Personal Brand through Video
•          Members -- The Good, The Bad The Ugly, The Good and The Ugly    
•         the Head of Table Panel Discussion

Creating Cozy & Collaborative Virtual Communities

Cicely Blain, anti-racism consultant & Founder of Bakau Consulting

Description of the session: While remote working was a reality prior to COVID-19 was discovered, it accelerated the requirement for businesses to shift to a virtual setting. As a result, those who were looking to keep a tight relationship with their customers set groups of like-minded people can learn from and assist one another. It can, however, be difficult to create it as tight-knit like a physical one.

In this session, Cicely Blain shares their experiences in creating their online community called Living Room. The group shared their approach to creating a cozy and welcoming vibe within a virtual space creating safe and inclusive communities, and using digital tools to meet individuals' needs.

  Principal takeaways  

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

Before establishing Living Room, Cicely had identify the audience they were trying to create the digital space to. Because their work is rooted in anti-racism and anti-oppression, Cicely knew that this community would mostly cater to people such as DEI practitioners, consultants, and HR professionals who do similar tasks.

Then, Cicely had to figure out what these people really wanted.

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

      Folks are definitely yearning for community, a feeling of belonging, solidarity and connections when there's a feeling of being isolated. [They're also] looking for sources and are eager to gain knowledge."  

  Be relatable to your audience  

The most effective way to convince members to join your virtual community is to give them something they can connect with. For Cicely, that relatable thing was their living area. They were looking to recreate exactly the same cozy and comforting feel that their actual living space gave them.

      "I wondered, "What is it that I want people feeling in this place?' I thought, hey I would like them to feel the same as they do when they walk into the physical space. It should be warm and welcoming and cozy. I wanted them to feel relaxed, content as well as supported, connected and understood."  

Cicely infuses this spirit into the community by:

• Starting off each virtual meeting by allowing 10 minutes for reflection. The facilitators ask one simple inquiry on screen to encourage participants to do an internal reflection.
• Soft music playlist based on R&B to help listeners relax and get comfortable with the phone call.
• Engaging in each conversation as though they're having a light-hearted conversation with their best friends. While filming videos for their online course, Cicely might be doing their makeup or making a cup of coffee in their kitchen.

  Give a range of options that community members can get what they need  

While the members of an online community tend to be similar to each other, they will have different needs, strengths, and weaknesses. As a enterprise, you'll need discover different ways in how you can satisfy the needs of your community members despite their differences.

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

• Offering various forms of engagement (e.g. live chat, forums for discussion as well as online-based courses that provide comprehensive information, etc. );
• Defines the community's values and guidelines;
• Lets people show themselves as authentic;
• Eliminating unnecessary stresses, like time limitations and agendas for meetings;
• Considering accessibility needs (e.g. disabilities and neurodivergence) and other.

Funds in the Funnel: How to Maximize Sales With a Customer-Focused Funnel

Ellie Diop, Content and Funding Coach at Ellievated Academy

Description of the session: In order to build your business to be successful, you need customers to take a purchase or use in your service. However, many businesses make the mistake of creating content they think the ideal customer would prefer rather than what their customers actually want. In this talk, Ellie explains how you will grow your business and boost sales by establishing an effective funnel to attract the ideal customer and responds to their desires and requirements.

  Principal takeaways  

  Every element of content is important.  

Building a customer-focused funnel will help you build a rapport with your clients. The most effective way to achieve that is to create content that is informative, useful, relevant and valuable for them. A funnel designed to be customer-focused has five stages:

• Awareness
• Discovery
• Consideration
• Conversion
• Relationship + retention + REPEAT

On the importance of creating content, Ellie declares, "Every piece of content you write is an integral part of your sales team. What you wrote just three months ago, is doing the job of moving customers through this channel... Showing up consistently with a similar style creates a predictable tone for customers to comprehend and help them navigate through this funnel."

  Define your brand  

If you're not aware of who your products or services are catering to, no one's going to buy from or employ you. Before you create an online funnel, you need to clarify the purpose and mission of your company by starting with your ideal clients. Consider:

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

The answers to these questions provide the basis for every business decision. Ellie offers a straightforward model for this: I help your target audience to achieve fulfill [YOUR PURPOSES] through your product or service

Drawing on her experience with growing her business, Ellie declares, "For me, it could be "I support women to create profitable businesses through providing them with strategy and financial strategies. '... for a long time, I had this on a sticky note up in the corner of my office, and every time I went to record a video I knew who I was talking with."

  Create your social media presence  

Social media is among the most effective digital platforms for creating branding awareness as well as generating leads for your business. It's so effective that most customers will visit your business's Instagram profile (or your other social media profiles) prior to visiting your site.

Hence, you need to put in the your time (and possibly funds) into your social media content in order to make it more visible. One way to do this is to:

• Making engaging, informative, and shareable media (especially video)
• Running paid ads
• Collaborating with influencers with the same target market as you

  Utilize lead magnets to grow your email database  

While you're creating content you want to bring most people from social media to your mailing list. If people sign up to your list of email subscribers, they're giving the opportunity to interact directly with them -- that's more beneficial than hoping they randomly bump onto your videos and posts as they scroll through Instagram or X (formerly Twitter). Lead magnets are where they come in.

In the ideal scenario, when you use lead magnets, you're handing worth in exchange for contact details (usually their email and name address). However, you may solicit other information as well. In the start of her business, Ellie offered free 1-on-1 training to clients in exchange for reviews. Ellie used the testimonials she received to gain her first group of clients who paid.

      "You've gotta look at, 'What is an field where I can provide an amazing free service that will get someone excited?' and make that your main incentive. In my company, I recently made a change where instead of pushing customers directly into a item, we instead push customers to take advantage of a complimentary offer, which is the free masterclass. We then sell it on the back end. Our results have been fantastic."  

  Maintaining customers who are already there is easier than acquiring new ones  

Each new lead you get, you have to go through the procedure of driving them along the sales funnel -- which is much more difficult than convincing an already existing client to return to you. Therefore, you should focus on maintaining your customer just as much as, if not more, as you do customer acquisition.

In order to keep your clients, here are some steps to take:

• Offer high-quality customer support
• Conduct surveys with customers to gather feedback
• Collect testimonials from pleased clients (offer incentive programs, when possible)
• Create a secondary offering that can fill in market gaps

In creating the second offer, Ellie shares, "I have created my very first business credit class for $15. After that, I began to hear feedback on what [my customerswould like to see next. Then I created Business Credit, which is Business Credit revamped. Later, I came up with the Business Credit masterclass, and after that, the whole collection. The result was that a majority of people who purchased the first bought the second one to make up the missing pieces. They then bought the third version because they grew in 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

Session description: Businesses, in general, have three primary revenue and sales elements: their offerings and services as well as the content they develop to describe those products/services and the channels by which they disseminate the content. In this talk, Jessica discusses the power of LinkedIn in helping businesses connect with customers (B2C) as well as to other companies (B2B) and how you can make your content appealing to both groups, and ways to enhance the range of services you offer to suit both groups.

  LinkedIn is a powerful platform for distributing content and boost your profile  

Many professional and business owners have profiles on LinkedIn, they don't consider it a platform where you can grow your visibility and publish content. Instead, they regard LinkedIn as a tool for updating resumes, finding new jobs, and only connecting with people you know.

In real life, LinkedIn is a social media platform, similar to Instagram and X (formerly Twitter), and should be treated like such. There is only one difference: what kind of content you post.

In regards to LinkedIn's popularity, Jessica says, "The benefit of LinkedIn is this it reaches a certain segment of the population that is in a mind space that is focused on professional growth and eagerness to learn."

Jessica is also willing to share her journey from speaking about her experience as a reporter in 2018 before becoming certified Top Voice and a LinkedIn instructor within five years. The reason she explains this is posting consistently on the platform and connecting with a broad variety of audiences that can be benefited from her service: helping people learn better communicating techniques.

  Change your messages to fit both B2C as well as B2B audiences  

Most business owners believe they can only gain visibility when their content is targeted to consumers who are merely individuals. It's not the case.

The strength of LinkedIn is its ability to allow you to reframe your messaging in order to appeal to both B2C and B2B audiences. Your offer doesn't need to change, but altering the language you use to describe your business can improve the visibility of your business and draw business and individual customers.

"I am aware that when I'm trying to communicate to my B2C audience, I employ words like "you," "your,", 'and have you thought of it? ...?'" says Jessica. "My words are direct, which means that 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 presenting my message using phrases like 'the team' and 'the organization'. It's more positive-driven and [less personal."  

  Make yourself known as a thought leader to appeal to B2B audiences  

Unlike individual customers who only need a good product, B2B buyers want to be sure they're getting the best. So to get their attention, you'll have present your self as an expert or thought-leader in your industry, even if the product you offer is designed toward B2C audience.

If, for instance, you're a photographer, then you may create and sell courses in photography for your B2C customers. But to get B2B prospects, you may create thought-leadership content having a career in the arts or about building a company as an artist. Or if you offer 1-on-1 classes teaching individuals how to improve their productivity and efficient, you could appeal to B2B customers by releasing articles about improving productivity in the workplace.

So, you'll be able to go to selling B2C items like e-courses or 1-on-1 classes, to providing talks and workshops.

Crafting a Visible Personal Brand through Video

XayLi Barclay Expert and Visual Content Coach for Start Shoot Expand

Description of the session as a business owner isn't it easy to not be noticed, especially when you're in a highly competitive market or industry. But you can overcome this by creating your personal brand with video content, be it short TikTok clips, Instagram Reels, or long-form YouTube videos. In this session, XayLi explains how you could use videos to promote your online course, get sales, and build your brand's reputation to the people who purchase from you.

  It doesn't take much in order to begin.  

If you are you are creating your first video, or launching your first livestream, it's not necessary for everything to be perfect. You can start with what you have. In the beginning, viewers will accept your poor quality video and poor editing skills as they understand that over time, you'll become better.

XayLi herself started using her laptop, a simple white backdrop, and a run-off-the-mill ring light.

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

      Now I've got a complete integrated studio at home however, this is the place where I began a few years ago."    

  Get more resources as you get more  

As you get more visibility from your videos and generate revenue, it's time to build out your set and upgrade your video equipment. As an example, you could get a better camera/webcam and tripod stand (worth around $500-$1,000), a green screen as well as E-Camm Live, a teleprompter app along with an Adobe Premiere subscription for editing.

Speaking out upgrade options for equipment and sets, XayLi explains, "[At this stage] there are many camera angles and the list goes on. It's time to start investing into these things since you're earning money. It's common to think we have to be attractive prior to the cash comes in. No. You must get out there, and then the money will come."

Once you have earned enough money, you can begin outsourcing the recording of your videos, editing, and distribution to freelancers or an in-house team.

  Focus on just one thing at the moment  

It's easy to believe that you need to be doing everything you can to increase the size of your company: publish on every channel, hop on every trend, and speak about a range of subjects. This isn't necessarily true. It's better to concentrate on one thing in a row as you create your own personal brand. Not only does this prevent you from burning out, but it also lets your audience know what to look forward to each time you post videos.

According to XayLi Barclay's "Rule of 5 Ones", here are the five elements to consider when you are deciding on your digital strategy:

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

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

Teri Ijeoma, creator of Trade & Travel

Description of the session: If done properly, memberships are a great way for businesses to build stronger relationships with their clients, as well as generate extra revenues. Teri Ijeoma has created the membership program that she developed for Trade & Travel and she is now able to enroll over 35,000 customers in her courses and 185,000 people on her mailing list. In this talk, Teri shares the benefits from establishing a program for membership as well as explains how businesses are able to set up and manage memberships the right way.

  Learn when it is time to move from a group that is free to one that has a fee  

If you're not the most well-known business, you'll be required to launch your membership program by offering the benefits for no cost. Teri started hers using a group on Facebook that was free. However, as you grow your group, you'll need to be aware of the time to move from a community that is free to a paid membership model.

Below are indicators to be aware of prior to taking a turn:

• Your group is growing in size but members only pay an annual fee to receive the service you offer, instead of paying to cover the other benefits your organization offers, e.g. year-long customer support, etc.
• The group members begin their own groups or meetings, which makes it harder to manage the group's administration.
• You're hiring group moderators or coaches who provide coaching to members of the group, but without generating additional revenue from the members.

  Your Membership program is an item in and of itself  

Some companies who create online courses also have membership plans as an add-on to the courses. While a membership program is an effective way of making your courses more effective, you should treat it as a product itself -- not a mere add-on.

When discussing the benefits of her Trade & Travel membership, Teri acknowledges "In the beginning, I thought the membership was an extension of my course. That's not true -- it's a product completely on its own. It needs its own team, promotion, marketing schedule... it's best to think about it as a product itself."

  Make sure you are aware of your pricing  

When transitioning from a free group to a membership model, consider your goal for income and then price your product according to the goal. In this point, it's possible to make your offer lower to get more members. However, if you're confident that your membership program is full of worth, you shouldn't hesitate to ask for a premium rate for it.

In the example above, if your aim is to generate the equivalent of $10,000 per month, it's more beneficial to get 500 people to spend $200 a month than 1,000 customers to pay $100/month. The higher your prices are, the less people are likely to sign up. However, this means you'll hit your income goals faster, while finding it relatively easier to manage the program.

Head of table panel discussion

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

Description of the session: This panel discussion includes panelists Cicely, Ellie, Jessica Cicely, Jessica XayLi giving their opinions about the significance of inclusion and diversity in the entrepreneurial space, the challenges that women and BIPOC business owners confront as they seek to establish themselves in the economy of creators as well as how they can determine the right price for their goods ethically within a capitalist system.

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

  Women of color who are entrepreneurs have reached financial stability for the very first time. What are the challenges, new issues and opportunities does this bring?

Ellie Diop: Just like there's poverty trauma There's also wealth trauma also. When you're the first one within your family who owns a 6- or seven-figure company, there's not numerous examples you can follow. There's still a stigma around discussing money, particularly for people with a different race earning more than what most people can imagine in a lifetime.

When I first made a million, I was anxious to leave my mom's home. I didn't want to spend the money since I wasn't sure what I would do if it was gone. I was also afraid to share the news with my family since I was worried they'd think differently of my character.

Something I'd like have more of is collaboration spaces like this that remove that stigma and say "Hey, what's going on? If you're worried about earning money and what to use your earnings Don't be shy to talk about it". Allowing that stigma to continue is a reason why many people earn a lot of money and return to the place they started.

  In business environments, often it is easy to feel the pressure to assimilate, code-switch, be silent or set parts of ourselves out. We may not always feel that we fit into the concept of professionalism. Has that experience shaped the way you interact with your community and how do you apply that to the liberating work you do as a DEI professional?

Cicely Blain: With the media systems we grew up in that we have the same type of person represented on media, television as well as social media and when certain online creators gain traction, while other creators are banned from shadows, it is easy to believe that you need be a certain manner of speaking and being.

When you find a space where you are seen for who you truly are, by the people around you and your leaders (even when they may not have the same lived experiences as you), that's truly liberating. But, even though there is a growing number of representations and there are more chances available, there's still two standards for what people are expected to do. Sometimes we internalize those two standards (even though they might not be true) which can hinder us.

For example, on TikTok there are a lot of people who aren't polished and put together all the time. Though it's great however, I believe that this possibility is limited to a select few, and there's a higher expectation of others, and in the manner they present themselves.

  If you are faced with the dilemma of deciding that your current path does not align with where your capacity can go and where your passion can be, and make the decision to transition into full-time entrepreneurship?  

Jessica Chen: All of us will reach a point in time arrive at where we recognize that what we were hoping to achieve is completed and we're now ready to try some new challenges. For me, I was in a great career that I loved, but after 10 years of working, I was a bit disappointed that there wasn't something more to offer. I've always been a kind that creates my own path. So I thought about how I could teach the skills I've learned to other folks.

My initial career was in journalism, which you may consider to be an "proper" profession where you can't share your thoughts, and you do not have a voice of your own, and you're just telling other people's stories. It was an upsetting transition to begin creating my own voice, and to show my personality. It was certainly a learning steeple.

  How can you price your offerings or services in order so that you can attract customers who are aligned, ready to take a lesson from you and see the value in the product or service you offer?

XayLi Barclay Says: Lots times, we set prices low and then we overburden those investingin turn, doing an injustice to the person. It's easy to think you'll attract a lot of customers if you set your price low. However, chances are you're attracting overwhelmed investors that are not ready to act.

I hired a business coach to map out how much I could make which then determined my pricing based on volume. We see a lot of creators that launch a $7 course and make 6-figures off of that product, but they have the volume. If you're a less experienced creator, it's essential be aware of what your goals are as a business so you can price appropriately.

If I sell 5 online classes at $1,000 for each course, I'll make five thousand dollars, versus selling 500 courses at 10 dollars per course. Think about it that way. That's the process I had to go through.

Watch Sessions of Think In Color 2023 on-demand

And there you have it The key takeaways from the three-hour-long event created for both budding and veteran entrepreneurs operating in the economy. We invite you to dig deeper into any of those topics that caught your interest.