Black Girl Magic is in full effect in the world of entrepreneurship. More women, particularly black women entrepreneurs, are taking the path to ownership, fully investing in themselves and future generations. If you’ve ever thought about being an entrepreneur, you’ll have the support of a sisterhood of women who are doing the same thing.

According to The 2017 State of Women-Owned Businesses Report commissioned by American Express, women’s entrepreneurship is growing at a fast pace. Women-owned businesses account for over one-third of all U.S. firms, resulting in an estimated 11.6 million firms in the United States as of January 2017. Leading the way in the entrepreneurship space are African American women. Women now own 30% of all businesses in the U.S., accounting for some 9.4 million firms. Additionally, African American women control 14% of these companies, or an estimated 1.3 million businesses.

“This is our time,” says Venus Opal Reese, CEO of Defy Impossible, Inc. and creator of the Black Woman Millionaire Tour. “Everything our ancestors have prayed for is at our fingertips. The social structures that have kept us in bondage have lessened.”

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Originally published by BlackEnterprise.com

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Either you grow to love the rules of networking or you’ll drown in it. Networking has become a societal norm that grants you access. As the old saying reminds us, “It’s not what you know but who you know“.

During the Black Women Millionaire Tour in Chicago, Dr. Venus Opal Reese exposed participants to a valuable 15-minute lesson on networking.

“Walk around the room and get 3 warm contacts,” says Dr. Venus. “You have to get to a place where you start trusting spirit with your money and your business and stop trying to manipulate the process.”

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In the last 5 years, she reached the four million dollar mark.

Dr. Venus Opal Reese, founder of the Black Woman Millionaire Movement, has achieved levels of financial success that are unheard of for black women. She was able to “monetize her mess” and share her story with the world in her latest book, “The Black Woman Millionaire: A Revolutionary Act that Defies Impossible“.

Wealthy Women Daily caught up with Dr. Venus Opal Reese during the Black Woman Millionaire tour in Chicago to discuss money habits and tips that have allowed her to become a black woman millionaire.

Working Hard is Not the Answer to Wealth

Dr. Venus explains how “working hard will never make you rich; it will make you tired”.

“Money is not effort. Money is energy”, says Dr. Venus. “We think that if we do more, we will get more. That is a survival strategy that are ancestors had to employ to stay alive. It was also a survival strategy during the industrial revolution for people of all races. Working hard is not designed to make you rich. It is designed to make someone else rich. If you look at your life as an adult woman, you’ve already made a few million for other people”.

Work smart.

Live Under Your Means

Dr. Venus didn’t spend more money every time her income increased. She focused on building her net worth instead of relying solely on her high net income.

Savings is key. You have to ensure that you keep as much money as you can in your pockets so you can afford the things you really want.

Dr. Venus wanted a mansion. And that’s exactly what her savings got her.

“We lived below our means for 10 years and saved for 4 years and was able to buy our first million dollar mansion,” says Dr. Venus.

Keep Cash On Hand

Wealthy millennials aren’t the only ones keeping more cash on hand.

During times of economic uncertainty, everyone wants to have more cash on hand so they can take advantage of investment opportunities. People also want to have money on hand to maintain or upgrade their lifestyle without the need to borrow money. It’s about liquidity. You feel secure when you have cash at your disposal. You also have bargaining power.

“We saved up enough cash so we don’t have to deal with a lot of interest. That’s a big deal for us,” says Dr. Venus.

Tithe 

Rich people understand the importance of giving back and tithing.

“We tithe to places where we are inspired and people we are inspired by,” says Dr. Venus. “We tithe from a place of inspiration and not obligation. We just [participated in] this gala for a food pantry and we donated $25,000 and it provided 73,000 meals. I know what it’s like to be hungry. I was inspired to give there.”

Dr. Venus Opal Reese has been featured in Ebony, Black Enterprise, ABC News, Glamour magazine and a growing list of other print and online publications. She has mesmerized audiences with her magnetic words and candid delivery. She may have graduated from Stanford University with her second masters but her audience can rest assured that she has the street smarts required to meet you exactly where you are. You can join Dr. Venus on her Black Woman Millionaire Tour by clicking here for upcoming dates and locations.

For the non-explicit version of book, visit www.TheBlackWomanMillionaire.com/Standard

For the original version of the book, visit www.TheBlackWomanMillionaire.com

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