#233 – Acquiring Funding for Black-Owned Businesses

Running Time: 31 Minutes
Series 1 Episode 233

Overview

Welcome to the two-hundred and thirty-third episode of the Heart + Hustle Podcast!

In this episode, we explore the challenges Black women entrepreneurs face in securing funding, with less than 1% of venture capital allocated to them. We break down the key documents needed to attract investors, from business plans to pitch decks, and highlight grants, funding programs, venture capital firms, and accelerator opportunities designed to support Black-owned businesses. We also share valuable networking and mentorship resources to help founders build connections and long-term success. Tune in for actionable insights on funding your business.

Links from the Episode

Grants and Funding Programs

  1. Black Girl Ventures – Offers pitch competitions, crowdfunding, and community resources to support Black and Brown women founders.
  2. Fearless Fund – Focuses on investing in women of color-led businesses at the pre-seed, seed, and Series A stages.
  3. iFundWomen of Color – A crowdfunding platform with access to grants, coaching, and networking specifically for women entrepreneurs of color.
    • Website
  4. The BOSS Network’s Invest in Progress Grant – In partnership with Sage, it offers grants and mentorship to Black women entrepreneurs.
  5. DigitalUndivided’s Do You Fellowship – Provides financial support, community, and resources for Black and Latinx women founders.
  6. Comcast RISE Investment Fund – Offers grants, marketing, and technology resources for Black-owned businesses.
  7. The Amber Grant – Awards $10,000 monthly to women entrepreneurs, with an additional $25,000 awarded annually.

Venture Capital and Investment Firms

  1. Backstage Capital – Invests in startups led by underrepresented founders, including Black women.
  2. Harlem Capital – A venture capital firm focused on investing in diverse founders.
  3. Founders First Capital Partners – Offers revenue-based financing for diverse-led businesses.

Accelerators and Incubators

  1. New Voices Fund – Created by the founder of SheaMoisture, this accelerator supports women of color entrepreneurs with funding and mentorship.
  2. Camelback Ventures – Provides coaching, capital, and connections for entrepreneurs of color, women, and nonbinary founders.
  3. Google for Startups Black Founders Fund – Non-dilutive cash awards and cloud credits to Black-led startups.

Networking and Mentorship

  1. Walker’s Legacy – A digital platform that supports multicultural women in business through mentorship, networking, and education.
  2. The Mom Project’s RISE Initiative – Offers scholarships and career support to women of color pursuing entrepreneurial ventures.

Fearless Fund Case Summary

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Meet the hosts: Angelica Yarde and Charisma O’Keefe

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Episode Transcription

00:00.78
Angelica:
Hello, friends. Welcome back to the Heart & Hustle podcast. I’m Angelica Yard.

00:04.50
Charisma:
And I’m Charisma O’Keefe. We are here every Monday talking to you about entrepreneurship, owning a business, balance, health, wealth—all the great things. And it is February, so it is Black History Month.

00:17.90
Charisma:
As always during Black History Month—because we’ve been recording for what, seven years, eight years? It’s been a while.

00:22.42
Angelica:
Sure.

00:23.42
Charisma:
Yeah, a long time.

00:23.93
Angelica:
But I think it’s nine.

00:24.72
Charisma:
Okay. Wow.

00:27.24
Angelica:
Yeah, it’ll be nine.

00:27.31
Charisma:
Wow. We need to have an anniversary podcast. But yeah, we’ve been going all out for Black History Month for a very long time, and today we’ll be diving into topics that specifically benefit Black women. We cover things that work for everyone, but we like to focus on these topics because there are plenty of podcasts out there for white men in business.

01:00.79
Charisma:
Those podcasts exist, but that’s not us.

01:03.86
Angelica:
Nope. I don’t know what those podcasts are, but I think you can find them, and I love that for you.

01:09.64
Charisma:
I bet if you Google it, they will pop up.

01:12.91
Angelica:
Jesus.

01:15.61
Angelica:
Oh, God. We just struggled.

01:18.40
Charisma:
Should we take five minutes to talk about the Super Bowl?

01:23.37
Angelica:
We can take a short diversion.

01:28.09
Charisma:
I just want to know—were you for it or not? What are your thoughts?

01:33.03
Angelica:
Which part? The whole thing?

01:35.35
Charisma:
Not the whole thing. I watched the halftime show, and once I found out who was winning, I watched the very end.

01:45.30
Angelica:
I watched the whole thing, but it’s because my kid likes it.

01:54.45
Angelica:
I liked the halftime show.

01:58.76
Charisma:
Yes.

01:58.80
Angelica:
I think for Black people, it was a great football game. We needed the win, and some great Black moments happened. There was a Cha-Cha Slide moment—it was a very Black Super Bowl.

02:13.41
Charisma:
It was.

02:13.52
Angelica:
Outside of that…

02:15.46
Charisma:
I love Jalen Hurts. Everything I learn about him just gets better and better.

02:20.11
Angelica:
If you don’t like him, what’s wrong with you?

02:22.53
Charisma:
Exactly. Also, I’m excited for whatever Abbott Elementary episode comes out about this. You know they’re going to talk about it, and I can’t wait.

02:36.95
Charisma:
It’s going to be great.

02:38.10
Angelica:
I was talking to people about Jalen being at Magic Kingdom. The parade pictures were insane.

02:44.73
Charisma:
I had actually booked Magic Kingdom for that day and asked John if he wanted to go, but he’s a Ravens fan, so he was like, “Nah, we’re not going. It’s not the Ravens.”

02:58.45
Charisma:
I was like, “All right, I don’t care about football that much,” so I didn’t push it.

03:02.73
Angelica:
Yeah, I’m not that committed.

03:04.65
Charisma:
But as a good partner, I booked it just in case. We’ve decided we’re a “birds” household—Ravens first, but we also support a lot of the Atlanta teams because Margo is from Georgia.

03:21.13
Angelica:
But they’re all terrible. Don’t do that. Be better. Why is she a fan?

03:31.10
Charisma:
Because she’s from Georgia, and her mom will hurt all of us.

03:32.96
Angelica:
Oh, girl!

03:34.56
Charisma:
You don’t understand—her mom is serious about it. Their house has a whole room dedicated to Georgia teams.

03:37.94
Angelica:
For the Falcons?

03:44.60
Charisma:
The Bulldogs, the Falcons, all of them.

03:45.78
Angelica:
Oh, the Bulldogs? UGA? Okay, I kind of understand.

03:48.54
Charisma:
Yeah.

03:48.88
Angelica:
They’re actually somewhat good.

03:49.22
Charisma:
All Georgia teams. And I always thought it’d be her dad who was super intense, but no—her mom is the one.

03:51.26
Angelica:
Who?

03:57.17
Charisma:
Her mom is intense. The car, the room, everything. If her teams are losing, she leaves the room. She can’t handle it.

04:07.64
Charisma:
So to stay in her good graces, we respect and love all Georgia teams.

04:17.47
Angelica:
I—

04:17.69
Charisma:
It’s just the law. So we’re a “birds” household. But yeah, I enjoyed it. Kendrick was great, I was happy Jalen won, and I’m in my hater era, so I was very happy to see the Chiefs lose.

04:32.01
Charisma:
That made me really happy. Also, that boy has the driest hair I have ever seen.

04:34.96
Angelica:
Redacted. Redacted comment.

04:40.90
Charisma:
It’s so dry. He needs conditioner and water.

04:44.82
Angelica:
You know what?

04:44.99
Charisma:
So…

04:45.42
Angelica:
It’s dry. We all know why.

04:47.47
Charisma:
Yes, and that’s how I feel about it.

04:47.54
Angelica:
And that’s that. That’s all I gotta say.

04:53.15
Charisma:
So, jumping into our topic today, we’re talking about how to get funding for your Black-owned business—specifically for Black women entrepreneurs, because we face significant funding challenges.

5:08.16
Charisma
There are a lot of issues when it comes to getting your business funded as a woman of color, especially as a Black woman. And, you know, it’s just not fair. Black women receive less than 1% of venture capital funding. It’s very hard to get businesses to invest in Black women, and this has been going on for a long time. It’s not new. Of course, we’re seeing a lot of rollbacks in DEI initiatives, which probably won’t make things better. But the good news is that many nonprofits and other businesses have started focusing on these issues. There are ways to overcome these challenges and get the funding you need for your business. We just need to make sure we’re dialing in and using those resources. It’s obviously not something they’re going to teach you in business school. It’s not something a lot of people talk about or even know much about. So, we wanted to dive into this topic today and give you some solutions rather than just highlighting the problem.

06:10.11
Angelica
Yeah, and I think people sometimes believe—well, we’ll talk about one of the providers who offers funding for Black women-owned businesses later—but a lot of the complaints about them were along the lines of, “Well, that’s not fair,” or, “Other people have had to pull themselves up by their bootstraps,” etc. But people don’t understand that women, in general, couldn’t even have bank accounts until 1974.

06:41.39
Charisma
Right.

06:42.29
Angelica
If you’re young and didn’t know that, well, that wasn’t that long ago.

06:42.49
Charisma
Yeah.

06:46.74
Angelica
So, the systems in place for women to get funding for businesses are even newer than that.

06:53.32
Charisma
Here.

06:53.33
Angelica
Not just that.

06:54.26
Charisma
It’s wild because my grandmother couldn’t have a bank account until basically my grandparents were at retirement age. And my grandmother worked. She went to college.

07:00.45
Angelica
Yeah, right. Right.

07:04.64
Charisma
She went to college. My grandfather did not. She worked, and my grandfather worked. She eventually stopped working because she had so many kids, but she worked for a good portion of her career. Yet, she wasn’t able to handle her finances on her own legally. Because at the time, it was like, “Oh no, your husband has to approve it.”

07:22.87
Angelica
Right. He had to approve the fact that you had a bank account.

07:24.14
Charisma
Oh.

07:27.78
Angelica
Some of the issues with that are historically just fundamental problems.

07:28.50
Charisma
Yep.

07:32.30
Charisma
Another massive issue we face is that since women have only had access to these financial tools—like business bank accounts and credit cards—for a few decades, we also don’t have as much information about what’s needed to secure a grant or attract an investor. It’s not as simple as walking up to someone and saying, “Hey, I really want to start a business. Will you give me some money?” No, there’s a lot that goes into it, and much of that knowledge is not taught to us.

08:00.95
Charisma
So, Angelica is going to go through the documents you need to have prepared before you start applying. Otherwise, you might get overwhelmed if you just start opening websites and seeing all the requirements. It’s better to focus first on getting the right things in place before applying for grants or funding.

08:22.07
Angelica
First, a business plan. Not just a general idea—you need an actual structured business plan. One, do your research. I’ve seen some business plans lately that were poorly written and lacked detail. You need to include projections on how your company will make money, how it will be profitable, and all relevant financial details. A business plan is not a mission statement or a values statement. People often confuse those things. A business plan needs to be well thought-out and detailed.

I understand that many people start businesses without one. If you’re self-funded and not seeking outside investment, that might work for you. But if you’re looking for funding from peers, corporations, or nonprofits, you must document that information properly.

09:26.68
Angelica
You need a detailed business plan. We’ll have another episode where we go through these documents in great detail.

09:39.93
Charisma
Yeah, we’re going to cover these topics in separate episodes because each one deserves a thorough breakdown.

09:42.97
Angelica
Right.

09:48.53
Angelica
Next, a pitch deck. My friends who love making pitch decks—I see you. But the content in the deck is more important than fancy animations. Keep it simple.

Your financial documents are also essential. This includes your bank account records, current financial status, and sales pipeline. You need to be able to answer key financial questions: How much does it cost to make your product? If your business offers services, what is your profit margin? What is your return on investment (ROI) for each service? Having this information readily available is crucial when seeking funding.

10:26.31
Angelica
Laid out, ready, and easy to understand. Your legal documentation—how did she register, what state are you registered in, what countries are you registered in, what are your copyrights or trademarks—those types of things. All that information needs to be put together and ready to go. Any supporting documents you may have, things that highlight the success of your business.

No, we don’t need a five-page paragraph or a five-page document from your mom about how great an entrepreneur you are. But anything that highlights esteemed awards, certifications, or achievements through this business that help you stand out amongst your competition—because you’re not the only person coming to ask for funding.

And then an executive summary. This is where you can put your value proposition. You can include…

11:17.35
Angelica
…those statements so people can have a better understanding of what that is. We will go over executive summaries in a different episode because this is a lot. It’s not a lot, but it is a lot. It’s very short, but it takes a lot to put together and do well.

Again, I’ve seen some wild stuff. I know a lot of people, their first attempt at an executive summary is on their first resume. A lot of people structure their resume with a personal executive summary. This is somewhat like that—but for your business and in a way that actually helps people understand, almost like an elevator pitch.

Then, a one-page or a type of marketing document that outlines your target market. This can be in your pitch deck, so you don’t necessarily need a separate one if that’s already included. But it is helpful to have a one-page overview…

12:05.39
Angelica
…of all your numbers and the key details people need to understand your business.

Much like the rest of society, people in finance also have a shorter attention span. While we hope they go through all the documentation, a lot of times they look at that one-pager and start to weigh their decisions—putting you in the yes, no, or maybe pile just based on that information.

Like I said before, we’ll talk about each of these things in a separate episode and bring in experts to discuss what worked for them and how they stood out in funding. These are the first steps to getting your information together before you ask someone to invest, receive a grant, or anything similar.

12:52.76
Charisma
Yes, and remember—you don’t have to have it all done in a day. It takes time to get all these things organized and together. It’s not an overnight thing, and that’s fine.

A lot of times, you’re going to work with other people. You might hire others to help pull everything together the way you want, and that’s completely normal. Take your time doing it.

Yeah, I’m excited for us to dive into all of these because there’s a lot to each one. Especially when it comes to investors and lenders—looking at your financial health and how to present that. I’m excited to bring in people for that because, you know…

13:35.78
Charisma
…we are not really—well, I mean, we are investors, but not in that way. We’re not lenders, so it will be really cool to bring in experts to dive deeper into this.

We’re going to talk about grants and funding programs, venture capitalist investment firms, accelerators and incubators, and networking and mentorship. We’ll quickly go through some different options.

Again, these are specifically chosen to be most beneficial for Black women.

14:08.69
Charisma
Some of them apply to women in general or Latinx people, but most were selected because they benefit Black women.

I’m going to dive into the grants and funding programs we’ve collected. The great thing about grants is that you don’t pay them back—that’s what a grant means.

Sometimes, not always, it means a little less money because you’re receiving funds without repayment.

14:37.31
Charisma
And often, though not always, you don’t have as many requirements after the fact when you receive a grant. With grants, it’s usually based on what you’ve already done or are currently doing.

With other types of investments, you might need to hit specific benchmarks—A, B, and C—because you’ve been given this money.

14:59.74
Charisma
But with grants, you’re already doing the things necessary to qualify in the first place. You just continue on that path.

The first one is Black Girl Ventures. They offer pitch competitions, crowdfunding, and community resources to support Black and Brown women founders.

We’ll share all these websites in the show notes. So if you’re taking notes and miss something—don’t worry, we got you.

15:26.37
Charisma
The Fearless Fund is another one. It focuses on investing in women-of-color-led businesses at the pre-seed, seed, and Series A stages.

15:34.91
Angelica
Yes, this is the one I was talking about earlier because they had a massive lawsuit due to the way they distribute funds.

15:35.42
Charisma
Or…

15:43.56
Angelica
I’ll put some links in the show notes about the Fearless Fund lawsuit, why they lost, what happened, and how they are still funding businesses. They specifically can no longer fund only Black women-owned businesses because of this whole debacle, and it was a big deal.

The founder is a very sweet lady who has been active online for a long time. Back in the Twitter days, when everyone was hanging out and chatting, I talked to her several times. She really handled this well because this was clearly an anti-DEI lawsuit. Her business was targeted and attacked.

If you are seeking funding from Fearless Fund, you have to be very particular about how you word your application to ensure you qualify. I’ll include all the details in the show notes. Some of the other organizations on our list may also have had to make adjustments due to the outcome of that lawsuit and the current legal landscape in the United States.

16:42.51
Charisma
Yes.

16:49.70
Charisma
Mm-hmm.

16:50.29
Angelica
Just keep that in mind as you prepare and submit your applications.

16:56.12
Charisma
The third organization is iFundWomen of Color, a crowdfunding platform that provides access to grants, coaching, and networking specifically for women entrepreneurs of color.

The fourth is the Boss Network’s Invest in Progress Grant. In partnership with SAGE, it offers grants and mentorship to Black women entrepreneurs.

17:14.21
Charisma
Number five is Digital Undivided’s Do You Fellowship. This program provides financial support, community, and resources for Black and Latinx women founders.

17:24.95
Charisma
The sixth one is the Comcast RISE Investment Fund, which offers grants, marketing, and technology resources for Black-owned businesses.

The seventh is the Amber Grant, which awards $10,000 monthly to women entrepreneurs, with an additional $25,000 awarded annually.

Once you have your paperwork in order…

17:46.92
Charisma
…the more grants and funding opportunities you apply for, the better.

With everything going on right now, I would apply sooner rather than later because you never know how things might change. And of course, when changes happen…

18:03.51
Charisma
We always find ways to support our community, and that will always be our focus. That’s why things like podcasts—and even zines, which are making a comeback—are so important. They provide spaces targeted specifically for us, ensuring we get the help we need.

18:18.49
Angelica
Yes.

Another way to find investors is through venture capital or investment firms. As we mentioned, only 1% of Black women-owned businesses receive this type of funding. But do not be discouraged. It’s better to take a shot…

18:35.08
Angelica
…aim high, and see what you can achieve.

Through this process, you can also find mentors who will give you the advice you need to refine your pitch and come back even stronger.

This space can be intimidating because it operates at a higher level. Venture capital today is not the same as it was 10 years ago when this podcast started. The landscape has changed significantly.

It was once a little more apolitical. But as we’ve seen during the second term of a certain president, things have shifted. Biases are now more openly displayed.

19:16.91
Angelica
Ten years ago, there was more discretion—people tried to hide their biases. That’s not always the case now. But don’t give up.

If you’re unfamiliar with venture capital firms, they are simply private companies that invest in startups or high-growth companies. The main difference is that these firms are privately owned.

It’s essentially someone’s money—investors like Alexis Ohanian and others putting in their own capital.

You see a lot of VC work on shows like Shark Tank, Dragon’s Den, and their international counterparts. I think we’re the only country that calls it Shark Tank, while other places use different names…

20:00.01
Angelica
Dragon’s Den, if I’m not mistaken, which is bad in itself.

20:01.15
Charisma
Yeah.

20:05.26
Angelica
It’s much different than it used to be.

Some examples of places where you can seek funding include Backstage Capital, which invests in startups led by underrepresented founders, including Black women. Harlem Capital invests in diverse groups of founders. Founders First Capital Partners offers revenue-based financing for diverse-led businesses.

20:27.17
Angelica
Those are just a few options. There are many others, but these are some solid starting points. You can do your research to find the best fit for you.

Another route to funding is through accelerators and incubators. Some examples include:

  • New Voices Fund – Created by the founders of Shea Moisture (a haircare brand that gained fame as the first big natural hair brand in Target). They support women-of-color entrepreneurs through funding and mentorship, which is especially valuable for new entrepreneurs seeking guidance.
  • Camelback Ventures – Provides coaching, capital, and connections for entrepreneurs of color, women, and non-binary individuals. This program is especially beneficial if you’re looking for mentorship, as having access to experienced advisors can be incredibly valuable.

You see this concept on Shark Tank, where entrepreneurs often choose certain investors based on their industry expertise.

Google also has a funding program for startups through the Black Founders Fund, which provides cash awards and cloud credits to Black-led startups.

21:46.74
Angelica
Not my top recommendation because, well… Google isn’t always doing what they should be. But if they’re giving out money…

21:53.29
Charisma
I know. Google…

21:57.70
Charisma
Approval.

21:57.69
Angelica
But…

21:58.35
Charisma
Of course. I was also trying to figure that out the other day because so much of my life revolves around Google. If we’re going to boycott them, I need to seriously explore alternatives. I use Google for everything.

22:13.41
Angelica
That’s a whole separate episode. There is a list of alternatives, but…

22:16.61
Charisma
We should do an episode on what we’re boycotting and what we’re using instead. There are so many changes happening daily.

22:29.59
Charisma
It’s a lot.

22:29.97
Angelica
Oh my God. Yesterday, the REI thing—that’s a whole other situation.

22:31.50
Charisma
Yes.

22:34.47
Angelica
Anyway, carry on.

22:35.54
Charisma
If you’re getting into funding for the first time, networking and mentorship can be incredibly beneficial. Finding a mentor to guide you through the process or even working alongside someone who is also new to this can make a huge difference.

22:56.86
Charisma
Two great options for mentorship and networking are:

  • Walker’s Legacy – A digital platform that supports multicultural women in business through mentorship, networking, and education.
  • The Mom Project’s RISE Initiative – Offers scholarships and career support to women of color pursuing entrepreneurial ventures.

One strategy that I think is underutilized is reaching out to someone who has successfully secured funding and simply asking if they offer consulting.

23:32.27
Charisma
To be clear, this is different from asking someone to meet for coffee so they can tell you everything they did. Instead, approach someone whose success you admire and ask if they offer one-on-one consulting. If they don’t, they may be able to recommend a consultant or coach who helped them.

You don’t have to limit yourself to people who actively advertise their services. Some of the most successful individuals don’t formally offer consulting, but they might take on clients occasionally. And if they don’t, chances are they have someone they trust and can recommend.

24:23.16
Charisma
This approach can be incredibly beneficial, especially when navigating funding opportunities. You get direct insight from someone who has successfully gone through the process, and you know the advice you’re getting is solid because it worked for them.

20:00.01
Angelica:
Dragon’s Den, if I’m not mistaken, which is bad in itself.

20:01.15
Charisma:
Yeah.

20:05.26
Angelica:
It’s much different than it used to be. But some examples of places you can look into are Backstage Capital, which invests in startups led by underrepresented founders, including Black women. Harlem Capital invests in a diverse group of people. Founders First Capital Partners offers revenue-based financing for diverse-led businesses.

20:27.17
Angelica:
So those are some options. Again, there are several, but those were given to you, and you can do your research to find out which is best for you. Then there are accelerators and incubators, which are other sources of funding. Some examples include the New Voices Fund, created by the founders of Shea Moisture. If you don’t know, now you know—it’s a haircare brand that gained fame by being the first major natural hair brand in Target. That’s very exciting because they support women of color entrepreneurs with funding and mentorship. If you’re a new entrepreneur looking for mentorship, this is a great opportunity.

Camelback Ventures provides coaching, capital, and connections for entrepreneurs of color, women, and non-binary folks. That’s another amazing option.

21:21.22
Angelica:
Heavy on the coaching part because having strength in numbers helps. Having someone with more wisdom than you can be valuable. You see that sometimes on Shark Tank, where entrepreneurs want particular sharks because they are more knowledgeable in specific fields.

Google also has funding for startups through the Startup Black Founders Fund. They offer cash awards or cloud credits to Black-led startups, so you can look into them. Not my top choice because, you know, Google is not doing what they’re supposed to do, but if they’ll give you money…

21:46.74
Angelica:
Startups can look into them. Not my number one top choice because Google is not doing what they’re supposed to do, but if they’ll give you money…

21:53.29
Charisma:
I know, Google.

21:57.70
Charisma:
Approval.

21:57.69
Angelica:
But…

21:58.35
Charisma:
Of course, I was also trying to figure that out the other day because so much of my life involves Google. If we’re going to boycott, I really need to explore alternatives because, oh my goodness, I use Google for everything.

22:13.41
Angelica:
That’s a separate episode. There’s a list of alternatives, but…

22:16.61
Charisma:
I would love to do an episode on what we’re boycotting and what we’re using instead. There are constant changes and updates every day, unfortunately.

22:29.59
Charisma:
So yeah, there’s a lot going on.

22:29.97
Angelica:
Oh my God, yesterday—the REI thing—that’s a whole other issue.

22:31.50
Charisma:
Yes.

22:34.47
Angelica:
Yeah, anyway, carry on.

22:35.54
Charisma:
If you’re getting into funding for the first time, networking and finding a mentor can be beneficial. Having someone to guide you through the process, or even working alongside someone who’s also starting out, can be helpful.

22:56.86
Charisma:
Two of the options you have are Walker’s Legacy, a digital platform that supports multicultural women in business through mentorship, networking, and education. Then there’s The Mom Project’s RISE Initiative, which offers scholarships and career support to women of color pursuing entrepreneurial ventures.

Something else that I think is underutilized is reaching out to people who have successfully secured funding and asking if they offer consulting. If not, you can ask if they can recommend someone.

23:32.27
Charisma:
This is different from saying, “Hey, you have everything I want—can I buy you coffee so you can tell me what to do?” Instead, approach someone whose business you admire and ask if they do one-on-one consulting.

24:23.16
Charisma:
You don’t have to only seek out people who advertise themselves as consultants or coaches. Some of the most successful people may not actively promote those services, but they might do it occasionally. If they don’t, they may have a coach or consultant they trust and can recommend. Since you’re looking at their success, you can be confident that whoever they worked with is good at their job.

25:02.76
Charisma:
It is just more challenging for Black women, unfortunately. So, if you see a Black woman who has done it successfully, reach out—but don’t expect free advice. Instead, offer to pay for her time as a consultant or ask for recommendations.

25:19.82
Angelica:
Right. And when you write those emails and pitches—because I have friends who receive them—be intentional.

25:28.81
Angelica:
I’m trying to think of the best way to say this. Many people don’t even offer these services, so don’t assume you’ll always get a response.

25:39.19
Charisma:
Right, they might not do it. But that’s why you can ask, “Hey, do you recommend anyone?”

25:42.70
Angelica:
Right.

25:47.63
Angelica:
Start with a compliment: “Hey, I’ve been following your work. Do you offer consulting services?” Then, if not, ask if they can recommend someone.

26:06.43
Angelica:
Don’t just say, “Hey, can I get on your calendar to talk about my business?” Understand that, especially for well-known people, they receive hundreds of similar requests.

26:16.61
Charisma:
Yep.

26:16.83
Angelica:
Some people have big hearts and would love to help everyone, but they have limited time and must be selective.

26:23.75
Charisma:
But you’ll burn out if you try to help everyone.

26:25.07
Angelica:
I feel like the Uncle Nearest lady—if I could sit down with someone, it would be her. I’ll find her name.

26:29.25
Charisma:
Ooh, yeah.

26:32.04
Angelica:
Her name isn’t just “Uncle Nearest lady,” I promise. She’s done an incredible job elevating that brand while also building her personal brand.

26:50.11
Angelica:
She’s elevating both at the same time. I’d love to talk to her about how she balances that.

26:57.76
Charisma:
Her name is Fawn Weaver.

27:00.81
Angelica:
Amazing. She always wears her cowboy hat and handles business like a boss.

27:05.41
Charisma:
Yeah.

27:07.99
Angelica:
Follow people like her. A lot of successful people give valuable information away for free.

27:16.08
Charisma:
Yeah, they really do. They’re not quiet about their success.

27:41.44
Angelica:
Take your time to get everything together. Follow key people, subscribe to their podcasts, and learn from them.

28:07.27
Angelica:
Hire an editor to review your pitch deck and documents. You might be an English major, but fresh eyes will catch mistakes you miss. Typos can make people take you less seriously.

29:22.14
Charisma:
Yes. I hope you learned a lot today. We’ll dive deeper into business plans, pitch decks, and financials in future episodes.

30:20.26
Angelica:
Exactly. Rate and review us, especially on Apple Podcasts.

30:45.30
Angelica:
God willing.

30:45.99
Charisma:
Yes, bye guys.

30:47.73
Angelica:
Bye.

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