Working to close revenue gap of Black woman-owned businesses
12/3/2019, 9:46 p.m.
Although Black women are being lauded as the fastest growing group of entrepreneurs in the U.S., their earnings are not on par with their white counterparts. In fact, according to American Express, women-owned businesses generate an average of $143,000 a year. However, for women of color, revenue averages have dropped from $84,000 in 2007 to $64,000 in 2018. Conversely, white women business owners’ revenues rose from $181,000 to $212,000.
E.R. Spaulding, CEO of BlackWoman Startup, a Chicago, IL-based company created as a support system for black women business owners who wanted to achieve above average business ownership success. They are doing this through coaching, training, customized programming, systems development, innovation, integration and automation, recognized these disturbing facts, and determined to help address it.
“I’m a true believer that powerful people ask powerful questions and the information found in the 2018 State of Women Report by American Express, helped me to ask different questions,” said Spaulding, the chief operations officer and a partner in the 200,000-member strong BlackCEO Business Network, along with founder, Trevor Otts. “The answers to these questions revealed that Black women in business who were moving from employee to entrepreneur, were barely making it, because the average black woman in business was earning only about $24,700 a year as of 2017,” she continued. “This helped me to see that the narrative was incomplete and that Black women business owners needed a life raft,” Spaulding said.
A successful business consultant, with a corporate background in project management, operations, and cultural development, Spaulding at one point also found herself in a challenging financial situation which negatively impacted her first company. However, with the help of caring business mentors, she was able to turn her circumstances around. As a result, she says that she created BlackWoman Startup to not only offer affordable, practical and proven success strategies for Black women business owners, but also be a supportive and effective resource.
“Marketing Camp powered by BlackWoman Startup is an intensive training ground committed to helping high achieving women transitioning from careers, move into cash flow positive businesses and marketing effectively is a major part of that,” shared Spaulding. “Our Marketing Camps, which typically only accepts 30 highly-motivated people per quarter, is designed to help Black women business owners build systems to help power their business success for the next 10 years, and we believe in the results and value of what we’re offering so much, for the first time, we’re allowing women to name their own price to attend,” she said.
Among the comprehensive marketing training mechanisms to be offered during the power-packed BlackWoman Startup Marketing Camp, will be CRM Management and set up; social media marketing and marketing automation, online billing platforms and systems; squeeze page and landing page design and set up; creating Facebook and YouTube Ads; video marketing and more. Successful business owners skilled in developing and executing successful marketing campaigns, will be providing training including the Evergreen Revenue Model, the PPSA Decision Making Matrix, the Influencer Launch and Automation Mastery.
“I remember that feeling of only having $20 to my name and someone stood in the gap to help me and didn’t judge me, and I want to pay it forward,” said Spaulding. “Our programs are here to help black women business owners, while holding them accountable to the greatness within them,” she said.
For more information on BlackWoman Startup Marketing Camps or to register, go to: https://blackwomanstartup.com/marketingcamp/