5 BOSS Tips From Kate Hudson's $200M Fitness Brand

With a new movie out on the big screen, a new entertaining guide out on bookshelves, and the cofounder of an activewear line, all eyes are on Kate Hudson during this month of September.

Have you seen her Cosmo cover this month? We literally can not take our eyes off of her. Talk about a million dollar body with billion dollar brains.

Kate has definitely made a name for herself as an actress over the last several years, but what you may not know is that she is also a super successful entrepreneur.

In 2013, she launched an athleisure line called Fabletics. And in a few short years, it is generating over $200M in sales per year.

Total BOSS.

And although we don't all have the lead role of "How to Lose A Guy in 10 Days" on our resume, we can still apply some of Kate's business techniques to our own ventures. 

Here are five business tips we can learn from Kate:

  1. Focus on a cause. Kate is vocal about her passion for women's empowerment. Take some time to carve out your why and the impact you hope your brand will have on the community. When your customers believe in your bigger mission, they are more likely to become loyal, life-long customers and cheerleaders.

  2. Collaborate with other powerhouses. Kate and the Fabletics team recently announced a collaboration with Demi Lovato. Partnerships and collaborations are how we've built our business here at Money & Mimosas, and it is a great way to expand your company's reach.
  3. Don't be afraid to experiment. The business model behind Fabletics has changed since it first launched. And throughout the process, Kate has been very transparent about the importance, and challenges, of testing different methods until you get one right.
  4. Launch multiple projects simultaneously. Along with the collaboration announcement, Kate is also on tour for her new movie and book. The beauty about this strategy is that she will be able to connect with multiple audiences. Some people may be excited about Fabletics, while others may be more interested in her movie or book. Either way, there is something for everyone.
  5. Coordinate your press efforts across platforms. Obvi, Kate has a team behind her. But, even if you're running solo, consider reaching out to other bloggers to create a mini mastermind where you can all collaborate and promote each other's work. If you're in the Bay Area, consider joining our #WalnutCreekSocialites group to collaborate with other like-minded ambitious women. And if you're not in the Bay Area, join the #MoneyandMimosas community to connect with other fabulous women doing amazing things. Click here to join our newsletter to be the first to know about our next VIP event.

Now we'd love to hear from you! What cause does your business take a stand for and why? Let us know in the comments below.

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About the author: Danetha Doe is the creator of Money & Mimosas. A guide for the independent woman who wants to grow her wealth and look fabulous while doing it. She is a private business advisor for celebrities, professional athletes and successful entrepreneurs.

3 Things The Independent Woman Can Learn From Gabrielle Union

The star of the BET Series Being Mary Jane, Gabrielle Union, is quickly positioning herself as the celebrity entrepreneur to watch and a role model for the independent woman.

Gabrielle Union (1).png

Earlier this year she launched her own haircare line, Flawless by Gabrielle Union.

If that wasn’t enough, this week Glamour Magazine announced that her New York and Company collection (which is oh so fabulous) is now available in stores.

And INFORUM at the Commonwealth Club, revealed that they will be hosting Union as a part of their Good Lit Series. The Commonwealth Club of California is the nation’s oldest and largest public affairs forum, and has hosted a diverse and distinctive array of speakers from Kim Kardashian-West to Martin Luther King, Jr. to Bill Gates.

When asked why they chose to include Union in this year’s lineup of speakers, Marisa Levine Director of INFORUM at the Commonwealth Club, shared, 

INFORUM is excited to host Gabrielle because her work spans so many important areas, from media to activism to entrepreneurship and beyond, and she does it all with candor and humor. We’re looking forward to hearing her personal perspective on how issues like sexuality, body image, race, and other important issues have impacted her life and career, and talking about her new book over a glass of wine!
— Marisa Levine

With Union leading the way, here are three things we can learn from her on how to live life as an independent woman.

  1. Make your own money. Although Union is happily married to NBA star, Dwayne Wade, she makes it clear that makes her own money. In an interview with Essence magazine, Union states, “Dwayne appreciates my independence, and my high credit score, and the fact that if I want a Chanel bag, I’m not asking for his Amex; I’ve got my own.” You know we at Money & Mimosas are all about financial independence, ladies! 

  2. Share your story. Just before the release of Birth of A Nation when rape allegations against her co-star Nate Parker surfaced, Union shared that she had been raped and molested at the age of 19. She urged others to show compassion towards sexual assault victims and is now using her story to be a powerful voice for other rape survivors. It is a very personal decision to share trauma that may have occurred in your life. If you feel ready to share your story, remember that your voice may help someone else who had a similar experience to find the strength and courage to pursue their dreams. 

  3. Develop multiple revenue streams. Although Union is a very successful and sought-after actress, she understands the importance of keeping the money flowing. Her hair line, clothing deal, upcoming book, and a multitude of other endeavors are helping her maintain her fly-independent- happily married lifestyle. Take a look at your business and brainstorm one to three more revenue streams you could add to ensure your financial independent status.

For more business tips that we only share in email, click here to join our fabulous newsletter.


About the author: Danetha Doe is the creator of Money & Mimosas. A guide for the independent woman who wants to grow her wealth and look fabulous while doing it. She is also a private business advisor for celebrities, professional athletes and successful entrepreneurs.

 

From rags to riches: Celebrities who inspire us to pursue our dreams


This week's money tip: Focus on what you have going for you. Don't worry about the resources that have been given to others. With persistence and optimism, and self-generated luck, you can make your dreams come true.


This past week, I wrote about the role of privilege in determining whether or not someone will be successful as an entrepreneur. After talking with a girlfriend about Kim Kardashian and all the resources afforded to her, and a recent article in Quartz, I was tired of hearing about entrepreneurs who made it because they had a freakin silver spoon shoved down their dainty throats.

You can read my post here on danethadoe.com

What about the countless entreprenuers who have given the rest of us hope that our present situation does not dictate our future?

In this week's #MoneyandMimosas, I highlight three celebrity entrepreneurs who show us that it IS possible to build a life of your dreams without growing up with millions of dollars at your disposal.

  1. Jennifer Lopez aka Jenny from the Block grew up in the Bronx. She adamantly says that she grew up in a loving home, Jennifer also makes it clear that times were not always easy. She paid her way through dance lessons and even slept in the dance studio when she did not have a place to go home to. J.Lo is now a successful entrepreneur and savvy business person. Regularly appearing on Forbes' top paid celebrities, her brand includes a clothing line, fragrances, music, media company and other successful ventures.
  2. Shania Twain had humble beginnings growing up in Windsor, Canada. Her family regularly could not cover the costs of basic necessities and (her parents) potentially could have been reported to protective services for the lack of resources. After her parents died in a car accident, Shania raised her siblings while pursuing her career. She is now a world-renowned star and inspiration to us all.
  3. Mariah Carey, a biracial child growing up in New York was faced with economic and racial challenges. She was raised by her single mother and began working at an early age to support the family while trying to make her singing dreams come true. Mariah is now the picture of glamour and the quintessential example of class.

Now I want to hear from you! What challenges have you overcome, or continue to overcome, as you pursue your dreams?

Let me know in the comments below!

Money & Mimosas is a lifestyle site for entrepreneurs who want to build businesses like celebrities. Click here to join our weekly newsletter for more practical business advice.


What Entrepreneurs Can Learn From Amy Schumer's $37.5 Million Year

Yesterday, Forbes released their 2017 list of highest-paid comedians. Jerry Seinfeld topped the list with $69M and Amy Schumer (the only woman on the list) made the list earning $37.5 million. Amy made her debut on the Forbes list of highest-paid comedians last year, and was the first woman to do so. 

Way to break the glass ceiling, Amy!

The earnings are the comedian's gross income generated between June 2016 and June 2017. Gross income is pretax and before any expenses are deducted such as lawyer fees, agent fees, accountants, hair stylist appointments...you know all the things it takes to make a business run. 

Net income is your gross income minus business expenses. Generally speaking, your net income is what you are taxed on as an entrepreneur. All of these fun terms are explained in the Financial Foundations training. 

What's interesting about this year's list is the percentage of gross income that came from Netflix. According to Madeline Berg's Forbes article, 50% of Louis C.K.'s $52 M and 30% of Amy's $37.5 M came from Netflix deals. Many of the comedians on the list have scored deals with Netflix, resulting in them skyrocketing past the $20 M threshold.

The streaming business has completely revolutionized the business of performing artists. Musicians, comedians and speakers now have the ability to expand their business on the internet- to balance the grind of touring.

In an interview with Wall Street Journal's Lee Hawkins, Master P talks about how digital streaming has changed the game from when he would tour in a No Limits branded van with a mission to "touch every hood in America". The strategy worked well for him- he has sold over 75 million records- however, there is an upfront cost to this process (a van, hotel costs, hiring a team, etc). Not to mention a large amount sweat equity.

My Two Cents

Obviously, you have to build quite a large following in order to score a deal with Netflix. But, that doesn't mean you can't start applying these principles to your business now. If you are an entrepreneur that provides advice, training or entertainment, here are some takeaways you can glean from the success of these comedians on Netflix.

  1. Own your digital rights. Josh Desmond, Esq. partner at The Artest Agency (TAA), highly recommends taking the steps to copyright your material sooner rather than later. He along with TAA's managing partner, Isaiah Artest, work tirelessly to make sure their professional athletes and entertainers are legally protected. "If you want to be rich and famous, your painting, song, sculpture or whatever must be copyrighted in order for YOU, the author, to own it," says Josh.
  2. Combine an offline and online marketing strategy. If you are a physical trainer, offer in-person training sessions and an online product. If you do comedy, perform at local venues and create digital content.
  3. Check out Streamlabs if you want to get into the streaming game. Founded in 2014, they have created a set of tools to help you monetize and grow your streaming channels. With over 60 million monthly active users, the company states that they processed $23.5 M in tips in the first quarter of 2017.

For more celebrity business insider tips so you can live like the rich and famous, click here to join our weekly newsletter!

 

Tabitha Soren, Former Celebrity Journalist, Shares Practical Business Advice

Tabitha Soren. Many of you may remember her from her MTV days when she interviewed Tupac, Mariah Carey, and Hillary Clinton, and many others.

What you may not know about Tabitha is that she is now an accomplished photographer. After building her collection, The Fantasy Life, over the last 14 years, her exhibition is now on display at the San Francisco City Hall.

Her affiliation with Moneyball (her husband, Michael Lewis wrote the book), may lead you to think that Tabitha is a sports fan. On the contrary, she embarked on this project with no interest in baseball.

Sigh. Why do all the non-sports fans get access to the likes of Derek Jeter? Be still my jealous heart.

Nonetheless, Tabitha was very much intrigued by the human spirit of the twenty-one athletes that she documented over 14 years. Their resilience, courage, work ethic. Ability to bounce back after devastating injuries. And the unfortunate fall from grace that some never recover from.

Me and Emily Howe, famously known as "Femily", met up to attend Tabitha's press release earlier this week

Emily, "Femily", Howe is the Make.It.Happen woman that you need on your team. Photo credit: Sarah Deragon Portraits to the Peoples

Emily, "Femily", Howe is the Make.It.Happen woman that you need on your team.

Photo credit: Sarah Deragon Portraits to the Peoples

Femily, is an undercover, magical bossbabe/consultant/curator that all artists and boss ladies need to strive to get to know on a first name basis. Note the emphasis on strive- while Femily is super chill, she's a highly sought after consultant and picky with her time.

During the release event, we had the opportunity to have a private chat with Tabitha. She shared a lot of insights that we had to keep off the record, but we did get some golden nuggets that I am able to share with you.

My biggest interest was learning how she has been able to sustain her lifestyle while working in industries that are, generally speaking, challenging to monetize. 

Tabitha's advice to artists on following your passion.

Often times, as creatives we are told to just "follow our passion" and everything will fall into place. 

I don't know about you, but I don't know of a landlord or bank that accepts passion as a form of payment.

At some point, sooner rather than later, you will need to figure out how to monetize your dream. Or else, your dream will fizzle like an ice cube in Arizona's spring training heat.

Tabitha's advice is to keep your day job as you build your side gig. And eventually transition from doing your gig part-time to full-time.

As I was building my business, I continued to work my day job. Then put in an extra five to six hours on top of that, everyday, to build my thing.
— Tabitha

 

Further elaborating on her suggestion, Tabitha recommended viewing your corporate role as a way to fund your dream. While it takes a lot of energy to have a job and build a side gig, getting a steady paycheck eliminates the stress that arises when you have no idea how you will pay your rent.

My Two Cents

So, I completely agree with Tabitha. You should keep your day job as you grow your side hustle. Worrying about bills will completely drain your creativity.

With.That.Said.

I totally did not do this when I launched and built my business. I dove in, head first, with no back up plan and minimal savings.

It worked for me because I enjoy the pressure. Maybe it comes from years of running track and thriving under the competitive energy.

However, I know that it's not for everyone. And would never wish the stress that I've endured on my worst enemy.

Well, maybe my worst enemy. But, you get the point. 

At the end of the day, you have to decide what works best for you. Then give it 150% of your effort.

Now, I'd love to hear from you! What are your thoughts on the early stages of building a business? Should you keep your day job? Should you go all in?

Let me know in the comments below!

For more celebrity business insider tips so you can live like the rich and famous, click here to join our weekly newsletter!

 

 

Lessons You Can Learn From Johnny Depp's Financial Woes

Oh goodness. Johnny Depp is in the news. For not good things. Again.

This week, Bloomberg and the Private Wealth magazine shared further insights on Johnny Depp's lawsuit against his management company for allegedly mishandling his funds.

For some background, many affluent individuals hire a company, usually a management group, to take care of their taxes, bill payments, investments, and everything else financially related. Essentially they are a one-stop shop for their busy clientele, as they are expected to run their business and private life.

Typically the company retains a percentage of the client's gross annual income. In this case, the Management Group (TMG) led by two brothers, Joel and Robert Mandel retained 5% of Depp's annual earnings. Roughly $28 million over the last 17 years.

The Issue

Depp has filed a lawsuit against TMG, seeking $25 million in damages for negligence and mismanagement. He claims that their tax filings for him are inaccurate amongst other complaints.

TMG claims that this lawsuit was filed in retaliation of them filing Depp's home for foreclosure. Which is happening, because Depp is allegedly not paying on the loan that the TMG had to secure for him after his initial loan through City National  defaulted.

TMG had previously warned Depp that his lavish lifestyle was unsustainable. They revealed a breakdown of his $2 million per month expenditures. And shared conversations where they advised Depp to cut back on his spending, only to be met with a litany of profanity from the actor.

My Two Cents

Irregardless (yes that's a word) of your feelings about Depp's spending or if his trusted advisors could have prevented his financial meltdown- the issue lies in the fact that it is not wise for anyone to completely hand over their financial well-being to an outside entity or individual.

Let's put it this way: it would be like expecting your personal trainer to do pushups or burpees on your behalf. Or expecting to maintain a fit body, when you eat like crap five days out of the week. Or thinking that you can get all your workouts done in January, to last you the rest of the year.

It doesn't work. You have to be an active participant in your well-being. And the experts that you hire need to take the time to educate you on how to be financially savvy. As opposed to just doing the work for you.

What you can learn from this

I've worked with hundreds of small business owners. And have spoken to thousands of entrepreneurs. And many of them fall in to the trap of hiring a financial professional and expecting he or she to do all of the work for them.

NO. 

It is your duty to be involved and seek out educational opportunities.

Like I tell all of my clients, "No one cares more about your money than you do. So it's your job to make it your business."

And to my financial professional colleagues, don't do all of the work for your client. Teach them how to fish and empower them with information to learn how to manage their money for themselves.

At the end of the day, 99% of financial professionals want to do right by their client. But, the relationship is a two-way street. And will only work if both parties are active.

As an entrepreneur, here are three things you can do to avoid Johnny Depp's financial disaster.

  1. Weekly money dates and monthly reviews. Reconcile your books on a weekly basis. And request a monthly financial analysis meeting with your financial professional, to review your cash flow, expenses and (hopefully) profit
  2. Establish checks and balances. Do not work with only one financial professional. The person who files your taxes should be different than your bookkeeper or accountant or personal financial advisor. Checks and balances protects everyone.
  3. Stay educated. Seek out opportunities to learn how to do your books, run financial reports and become savvy with your money. A great place to start is our Financial Foundations program. You can check out the testimonials and get information about the program, here.

For more celebrity business insider tips so you can live like the rich and famous, click here to join our weekly newsletter

 

 

Lindsay Lohan launches new business venture

Celebrities and lifestyle websites have been all the rage lately in Hollywood.  With Gwyneth Paltrow and the Kardashian-Jenner clan trailblazing the path, celebrities from Zendaya to Shay Mitchell, to now Lindsay Lohan, are all building businesses around their unique approach to experiencing your best life

A couple of weeks ago, Lindsay announced the launch of her new lifestyle site, Preemium, where she'll share the behind the scenes of her life. 

Drumming up excitement for the launch, she deleted almost all of her Instagram posts and shared that in order to learn more about her life, you'd have to sign up for her $2.99 app.

What I love about this venture:

  • Collaboration with other celebrities. Lindsay plans on partnering with celeb friends to help build the project. Teaming up with others who are like-minded and bring value to the table, is a big plus. And it will differentiate her lifestyle website from the many others.
  • Monetizing her brand- go girl! You know that I'm all about building a brand and using it to monetize your uniqueness. This platform will allow Lindsay to continue to expand her empire.
  • Great timing with her upcoming projects.  The Mean Girls star is set to host a reality prank show called The Anti-Social Network  as well as star alongside Harry Potter alumni Rupert Grint in the British television series Sick Note. Her site will be a great way to connect with and draw viewers to her shows.

What I don't love:

  • Too many topics. Currently, Lindsay's site promises insights on sports, lifestyle, music and fitness. If she were my client, I would recommend that she choose one area of focus in order to establish the know, like, trust factor. Kim Kardashian is a great example of this- she is known for sharing beauty advice and was able to launch a successful product line (you can read more about it, here!) because her fans know, like and trust her beauty advice. On the contrary, Blake Lively's lifestyle site Preserve shut down about a year after it launched in 2014. I believe it was not successful because there were way too many items and categories. Blake needed to take the time to hone in on one focus, perhaps home decor, before moving on to cooking tips and other lifestyle pieces.
  • Not original. While I believe that the collaborations will help set this site apart from others, I wish that Lindsay would stretch out of her comfort zone and build a lifestyle site around topics that are bit edgier. Every celebrity talks about their workouts, beauty tips and VIP events. It would be fun if Lindsay shared more insights about her travel and cultural experiences, and how this is influencing her period of renewal. As she shared with People Magazine.

My two cents (probably worth $2M, duh):

I absolutely love this concept for Lindsay and am excited to watch this platform grow. In order to be successful, she will need to narrow her focus. And she needs to continue to share free content on social media in order to drive traffic to the site. 

For more business insights so you can live like the rich and famous, click here to join the weekly #MoneyandMimosas newsletter.

Behind the scenes of Kim Kardashian West's $14M beauty line launch

Kim Kardashian West, hate her or love her (and for the record we at #MoneyandMimosas L-O-V-E her), there is no denying that this woman is a BOSS. With a capital B.

After gracing the cover of Forbes magazine in 2016, Kim made a definitive move to step away from licensing and take ownership of her brand by launching her own line of beauty products.

KKW, her beauty product line, launched on June 21st with a contour kit. And within six short minutes it sold out- 300,000 units- $14 million.

$14 million in sales in six minutes.

If that's not BOSS, then I don't know what is.

And since, we are all about supporting women bosses, we did some sleuthing around Hollywood to find out three insider tips on how Kim was able to make this happen.

Of course, we are not just suggesting that these tips will lead to $14 million in sales. However, there are some key - yet simple- action steps that Kim took that may help your next launch or stimulate overall growth in your business.

Insider Tip #1: Nurture your position as an authority. Kim has shared makeup tips, specifically contouring tips, for years before she launched her own line. For over 10 years, Kim has worked with her makeup artist Mario to perfect her signature look and establish herself as one of the go-to resources for how-to makeup tutorials. As you are building your brand, it is fine to have a variety of areas that you are known for, however always have a home base. A topic that is synonymous with your name and company. For example, Kim has done fitness videos, a clothing line and been involved in a plethora of other projects, but her core message has always been related to makeup. And she has established herself as an authority figure in that space which gave her the foundation to have a successful launch.

Insider Tip #2: Own every step of the process. Just before the KKW launch, Kim appeared at the Forbes Women's Summit to chat about her experience as an entrepreneur. One of the insights she shared about her line, was how important it was to her to own this line as opposed to contracting another licensing deal. While there are certainly more risks to ownership, the potential upside is far greater. As you build your business, especially as a one-woman show it may feel overwhelming as you anxiously await for the moment when you can hire a team to help you deal with the nitty gritty. And while Kim obviously has a very talented team around to help her, she was involved with every detail of the launch. Take heed, and pay attention to all of the minute details of your business- from the font of your website to the thank you emails that are sent to your customers. Your future bank account will appreciate you for it.

Insider Tip #3: Launch with one specific offering. Kim is the queen of contour and it was a genius move to launch with a contour kit. Over time her product line will include additional offerings, and only time will tell if the business is successful. However, the decision to launch with one offering, as opposed to litany of products, was a wise move. As a small business owner, reflect on one service that you can promote the heck out of and generate buzz around during a launch. Maybe it's a 4-week training program, or a live workshop, or a physical product...whatever it is be sure that it is very specific and focused. And ideally one that ties to insider tip #1- a reflection of your authority in the marketplace.

And now we'd love to hear from you! Which of these tips was most helpful to you?

Let us know your business, website and the answer to the above question in the comments section.

Cheers!

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Gwyneth Paltrow teams with Tracy Anderson to launch organic food program


This week's business tip: If you're looking for a loan for your business, check out Kiva. Through the efforts of generous donors, they provide 0% interest loans to entrepreneurs.


There's nothing like working with your BFF. Gwyneth Paltrow and her personal trainer and BFF, Tracy Anderson, announced a couple of months ago that they have developed an organic food program called 3 Green Hearts along with Paltrow's business partner, Maria Baum.

Both ladies have built incredible empires in their own right. Gwyneth, actress and the founder of the lifestyle brand, Goop which recently hired Martha Stewart Living's former CEO, Lisa Gersh; Tracy is a world-renowned fitness trainer (boasting celebrity clients like Gwyneth and Jennifer Lopez) and recent speaker at the 2015 Forbes Powerful Women Summit, are the perfect pair for this new gluten-free, organic food program for fitness enthusiasts.

The products will be sold exclusively out of Anderson's two fitness studios based in the Hamptons. However, the duo announced in Shape last week they plan on expanding the products to Anderson's studios across the States. 

Currently available as take-out from Anderson's two Hamptons-based studios, offerings include gluten-free pastas, grilled salmon, fish tacos, kale ravioli, quinoa salad, and fresh-made juices and smoothies, as well as healthy "frosting shots" and allergen-free cookies. 

So fun! And I love that they are both eager to make the products as affordable as possible. 

Cheers to these two ladies expanding their empires and supporting each other's growth.

Now I want to hear from you! Have you recently teamed up with your BFF to launch a new product or service offering? How did it turn out?

Let me know in the comments below!

*Muah*

Danetha

Money & Mimosas is a lifestyle site for entrepreneurs who want to build businesses like celebrities. Click here to join our weekly newsletter for more practical business advice.

A PR lesson from Ariana Grande: How to handle controversy

Ariana Grande is one of my favorite artists. With a cute bubbly personality and sassy flair, she is also extremely talented and seemingly has a good head on her shoulder.

However, she is human, only twenty-two years old and makes mistakes like the rest of us. And living in the spotlight, her mistakes are that much more amplified.

Last week, she visited a doughnut shop in Los Angeles. She picked up a doughnut, licked it and put it back down on the shelf without purchasing it. 

Then she proceeded to loudly proclaim to her brother, "I hate Americans. I hate America."

The statement was caught on camera and went viral this past Tuesday.

Ariana issued a Twitter apology the following day and then posted this YouTube apology video Thursday night.

Before releasing the video, Ariana went on to explain that she loves America, and is proud to be an American, but is disgusted by the obesity rates within the country and the lack of self-control when it comes to food.

I'm not sure if her further explanation led to more controversy due to the "fat-shaming", which can be detrimental when she has a huge female following.

However, it was a good move on her part to publicly own up to the controversial statement and offer a sincere apology. As a public figure, it is never a good idea to just hope that a situation disappears. You must address it head on.

So what can we learn as entrepreneurs? Here are three things that I suggest you do if you find yourself in a situation where you unintentionally offend a large group of people.

  1. Offer a public apology. If you have a large presence on social media, utilize that platform or send a statement to your local paper.
  2. Make it personal. Ariana's initial tweet was a good start. Her YouTube video took it up a notch. We can clearly see her sincerity. Especially since she made the video while in pain (she just had her wisdom teeth removed).
  3. Give back. My only suggestion to Ariana would be to turn this opportunity into a way to improve our society. You don't have to make it a press event, but in Ariana's case she should volunteer at a food shelter or work with an organization that helps reduce the obesity rates among children. If you are in a similar controversial situation, think about how you can help the population that you just offended in some way.

And now I want to hear from you! What would you suggest to Ariana or another entrepreneur in this situation? Leave us a comment below.

Money & Mimosas is a lifestyle site for entrepreneurs who want to build businesses like celebrities. Click here to join our weekly newsletter for more practical business advice.

 

 

 

Choosing an accountant? Lessons from Rihanna's $35 million mistake

If you haven't already seen the rather explicit video released by Rihanna, you probably should.

Or not. It is terrifying. Especially for us as entrepreneurs.

In the rated M for mature, 7-minute music video, Rihanna seeks revenge on her accountant and his wife that squandered tens of millions of dollars of hers, leaving her bankrupt and hostage to damaged credit. 

A little backstory: In 2014, Rihanna settled a lawsuit against Berdon LLP for mismanaging her funds and giving poor financial advice. Allegedly the couple used her funds to throw lavish parties, hire prostitutes and go on extravagant vacations. It's reported that Rihanna won $10 million from the lawsuit.

Hopefully, you've never had a situation where your accountant stole from you. While there are certainly some financial professionals with ill-intent, the vast majority of the industry is passionate about helping others attain the financial life of their dreams.

Unfortunately, those with good intentions may not have the best communication skills or may not be utilzing the right technology.

As a former accountant, almost half of my clients came to me because they felt that their previous financial professional either wasn't helpful or downright terrible.

When you hire a financial professional, you're probably looking for someone to take the money tasks off of your plate. However, you want to make sure the lines of communication are transparent and can not be misconstrued.

When it comes to your money, as a business owner you need to play a proactive role with your accountant.

So, what does that mean? How can you make sure the lines of communication are open? And that you are proactively managing your money along with your financial professional?

Below is a checklist for you to use to help you make sure everything is A-ok with your hard-earned money.

  1. Make sure your financial professional has experience with your industry, otherwise it will be difficult for them to advise you on common missteps or growth opportunities.
  2. Ask for 3-5 references from current clients before you hire them.
  3. When you search for a financial professional, interview them. They should have done their homework on your company. Ask them questions that you would ask an individual if you were hiring them as a manager or in a customer facing role. This will demonstrate that have an interest in your company's success.
  4. Make sure they provide business consulting services. It's not enough to just help you file taxes, they are also there to help you grow your business.
  5. Do they use up to date technology? Ask them which bookkeeping program they use. It should be cloud (online) based so that the information is updated instantaneously and allows you to access the same information they see at all times. If you're looking for an excellent program, I'm a huge fan of Xero.
  6. Require that they provide monthly statements to you. Depending on your business, you may want them to communicate with you on a weekly basis. Each month they should provide financial statements to you with a brief analysis of their findings and offer a thirty minute consultation call so you can ask questions.
  7. You should be double checking their work. I recommend having a weekly 30-minute money date to spot check your books and make sure that everything is as it should be---it's your money, honey!

And now I want to hear from you! Have you had a good or bad experience with an accountant? What did you like about them or what did you learn from the experience? Leave us a comment below.

Money & Mimosas is a lifestyle site for entrepreneurs who want to build businesses like celebrities. Click here to join our weekly newsletter for more practical business advice.

 

 

Meeting Kim Kardashian-West & the 7 business tips I learned

On Tuesday, the Commonwealth Club hosted Kim Kardashian-West. I attended the VIP reception, and although I was disappointed that we couldn't take selfies with her, I was more excited to hear her interview with Judge LaDoris Cordell.

Sept. 5, 2012 - Source: Stephen Lovekin/Getty Images North America

Sept. 5, 2012 - Source: Stephen Lovekin/Getty Images North America

Kim and the honorable Judge talked about race in America, the country of Armenia, the objectification of women in the media and how to be a successful entrepreneur.

As the first lady of fame and the queen of a multi-million dollar empire, Kim had some great tips for aspiring business owners. Below are my seven takeaways.

Judge LaDoris Cordell interviews Kim Kardashian-West in San Francisco. June 30, 2015. Source: Danetha Doe/Money & Mimosas

Judge LaDoris Cordell interviews Kim Kardashian-West in San Francisco.

June 30, 2015. Source: Danetha Doe/Money & Mimosas

  1. Develop a strong work ethic. Hard work always pays off and Kim is the perfect example of someone with a fabulously strong work ethic. She wakes up at 6a every morning and sometimes doesn't stop working until 10p.
  2. You can't rely on your beauty. When asked what is the biggest mistake she sees girls making who want to achieve big dreams is that they rely on their looks. You have to develop a skill and strong work ethic in order to reach your goals.
  3. DO sweat the details. Kim notoriously pays attention to the minute of the minute details. This has especially served her well in the partnership with Glu Mobile for the mobile game, Kim Kardashian goes to Hollywood.
  4. Maintain your hunger and hustler mentality. From a young age, Kim says that she fell in love with selling and being a hustler. This is clearly evident in her success to land numerous endorsement deals and project offerings.
  5. Remain engaged and accessible. Kim prides herself on managing her own social media and having a direct relationship with her followers. Whether it's asking them for feedback on a product or meeting them on their special day or replying to a tweet, Kim maintains a sense of vulnerability and accessibility with her fans.
  6. Focus on building your confidence. As a child, Kim was often teased for her body shape. During those difficult times, she was forced to learn how to build a sense of inner confidence and strength. This has served her and her business pursuits very well.
  7. Find your passion and remain determined. At the end of the day, Kim is a girl that loves fashion and dreamed of being in the industry. And she never gave up. Once you discover your passion, never let it go.
  8. BONUS: Always give back. Whether you're rich and famous, or not, you can always do something to help make our world a better place.

Now I'd love to hear from you! Which tip resonated with you? Let me know in the comments below.

Money & Mimosas is a lifestyle site for entrepreneurs aspiring to build businesses like celebrities.

For more business tips like this article, click here to join our weekly newsletter.

 

Self-Love Day 2015

A BIG thank you to everyone who was a part of Self-Love Day. I hope that you spent the day being gentle with yourself and acknowledging the amazing qualities you possess.

I was blown away by the beautiful selfies and touching captions you contributed. It was simply amazing to see you take a moment to share what you loved about yourself.

I launched the first Self-Love Day is on June 19. It is a day to put your needs and financial stability first. June 19 is also Juneteenth, a celebration to commemorate the abolishment of slavery in the U.S.

Income disparity and the lack of accessible resources to improve your financial literacy is arguably a new form of slavery. - Click to tweet.

According to the Pew Research Center report in 2014, which analyzed data from the Survey of Consumer Finances from the Federal Reserve, the median net worth of white households in 2013 was $141,900, about 13 times that of black households at $11,000. For Hispanics the numbers are similar, albeit slightly higher, than those for blacks. In 2007, the median net worth of a Hispanic household was $23,600, and in 2013 it was $13,700
— Tanzina Vega. New York Times. December 2014.

Self-Love Day is my small way of trying to bring attention to the need for financial independence and help you attain it through financial literacy and recognition of your self worth. 

Below are some of the selfies and the insightful comments you shared.

Money & Mimosas is a resource for lifestyle entrepreneurs. We are passionate about financial literacy & independence, and the freedom to live the good life.

Click here to join our newsletter for weekly tips on how to build a celebrity business.

 

 

#MoneyandMimosas: Reese Witherspoon in Rome

Happy Monday, fabulous! 



This week's business tip: Always look for opportunites to promote your products or service. Whether you're at happy hour with the girls or galvanting in Rome like Reese Witherspoon.


How was your weekend? What did you do for the solstice? I spent it soaking up the sun and sipping mimosas.

Grabbing brunch and mimosas with Chris Hooper, my new accounting friend based in Austrialia. #MoneyandMimosas

Grabbing brunch and mimosas with Chris Hooper, my new accounting friend based in Austrialia. #MoneyandMimosas

Last week I shared that Reese Witherspoon officially launched her Southern Lifestyle blog, Draper James.

And now she's on a fabulous promotional tour. 

Whether you're a celebrity or a regular entrepreneur like you or me, it's imperative that we promote the heck out of our lifestyle brand. 

But, how do we do it?

Here are three tips from Reese Witherspoon.

 

TIP #1: When in Rome...be sure to snap a quick photo with a well-respected and well-known individual. We can't all get the chance to meet Valentino, so consider capturing a photo with your local mayor or a well-known artist in your immediate area.


 

 

TIP #2: Capture the lifestyle. If you're brand exudes high-class and the arts, display photos of you visiting exquisite places. Maybe it's a fabulous museum in Rome or San Francisco. 

 

TIP #3: And of course, promote your products! If you're a fashion designer, wear your clothes when you go on vacation and travel to exotic places. And every other day of the week.

 

And now I want to hear from you! Which tip will you use to promote your lifestyle brand? Let me know in the comments below!

For more tips on how to build a business like the rich and famous, click here to sign up for my weekly #MoneyandMimosas newsletter

And don't forget to connect with me on Twitter, @danethadoe, and Instagram, @danethadoe.

Wishing you a week of bliss & beauty!

Danetha

#WorkoutWednesday: Summertime Fine Abs Part One

Alright, loves. Summer is here and this month's workouts is all about getting those abs Summertime Fine.

This workout had my arms and abs burning- I had to take a break!

Check out this week's  quickie 10 minute ab workout. 3 moves. 3 sets. Let's do this!

  • 1 minute mountain climbers
  • 1 minute plank
  • 1 minute oblique crunches: 30 seconds right, 30 seconds left.
  • Repeat 2 more times (3 sets total). Do this workout 3x per week.

Disclaimer: Please consult your doctor before engaging in this, or any, physical activity. Danetha Doe nor her companies will be responsible for any related injuries.

Danetha Doe is a celebrity business strategist and founder of the entrepreneur's lifestyle blog, Money & Mimosas. Connect with her on Twitter and Instagram, @danethadoe.

#TastyTuesday: Banana-Chocolate Coconut Rum Smoothie

#CleanCocktail: Banana-Coconut Rum Smoothie

O.M.G. Not to toot my own horn, but I outdid my myself with this #cleancocktail.

The inspiration behind the drink was the simple fact that I was craving chocolate and bananas were looking extra good at the market down the street.

Like all my cocktails, I try to limit the amount of sugar because it's a sure way to get a bad hangover and it's just not good for us.

If you're looking for a healthy drinky drink for the summer that satiates your chocolate craving, check out this easy and super delish treat. *

Ingredients:

Makes one 8 oz. drink

  • Half a banana. Sliced and frozen.
  • 3 spoonfuls (approximately 2 T.) of cocoa powder. I used this fair trade, organic baking cocoa powder. You can also get it at your local Whole Foods. You can be as generous, or scarce, with the chocolate depending on how bad you need some chocolate ;)
  • 1 shot of Malibu Coconut Rum
  • 2 T. of water or coconut water. I used plain coconut.

Blend until smooth. Enjoy. 

*Muah*

Danetha Doe is a celebrity business strategist and founder of the entrepreneur's lifestyle blog, Money & Mimosas. Connect with her on Twitter and Instagram, @danethadoe.

#MoneyMonday: How to use your celebrity to build a business like Jessica Alba

 

On June 15, Forbes will release its inaugural “America’s Richest Self-Made Women” issue. The list includes heavy hitters like Oprah, Madonna, Beyonce.

And on the cover is a woman quickly rebranding herself from movie start to mogul.

ForbesAlba.jpg

Jessica Alba, reportedly worth a sexy $200 million, is the co-founder of the Honest Company, a subscription-based brand for parents looking for safe products to use on their children. Beginning with diapers, Honest has since expanded to include skin care products and organic cleaning supplies.

The idea to launch the Honest Company came to Alba after she had her first daughter. She was looking for a safe, child-friendly detergent and chose to use a brand recommended by her own mother. Much to her dismay, Alba’s skin broke out in hives after washing her clothes leading her to research the product’s ingredients. Jessica quickly realized that this “safe” product and many other “child-friendly” products contained chemicals harmful to the environment and to children.

Like a fierce mama bear protecting her cubs, Alba went on a rampage and discovered how broken the U.S. regulations are in terms of protecting its citizens from toxic chemicals within consumer products. Jessica hypothesized that there was clearly a direct correlation to these unsafe products and the eerie rise in allergies amongst children.

In my post last month, I wrote how Jessica shows us the power of knowing your why in business. Click here to read.

In my post last month, I wrote how Jessica shows us the power of knowing your why in business. Click here to read.

 

She set out to find business partners and consultants to help her build a product line that families could trust were safe for their children, homes and environments. And the response has been incredible. The company launched in 2009, earned $10 million in revenue in 2012, $100+ million in revenue in 2014 and expected to break through $250 million in revenue in 2015.

Valued at over $1B, the company has received backing from Jessica Alba and venture capitalists including partners from General Catalyst, Lightspeed Venture Partners and Institutional Venture Partners. With growing success in the U.S., the Honest Company is expanding to South Korea later this year and possibly China in 2016.

With the combination of a fabulous, wholesome product line, avid mama supporters and Jessica Alba’s savvy celebrity presence, the sky is the limit for the Honest Company.

So how does she do it? How has Jessica Alba built a $1B company?

I covered Jessica Alba and her company in another post last month, highlighting the importance of identifying your “why” in business in order to be successful. 

As entrepreneurs, there is so much we can learn from her hustle. In addition to proclaiming your why, take some time to observe how Jessica acts as a spokesperson for her company. Granted, many of us do not have the platform as a Hollywood actress to work from, but you can certainly use your presence to drive sales and adoring fans to your brand.

Jessica Alba's Instagram feed is a combination of personal posts, glamour shots and the Honest Company.

Jessica Alba's Instagram feed is a combination of personal posts, glamour shots and the Honest Company.

As the co-founder and spokesperson for the Honest Company, Jessica poses with her own children to promote the company’s products. She is also a staple at legislative events discussing the importance of increasing regulation around toxic chemicals in our consumer products. Her personal Instagram is a refreshing combination of personal photos, glamour shots and Honest promotion.

Want to leverage your personal brand to create a sticky business? Here are three steps to take right now.

  1. Identify your why. Why are you so passionate about your business and how do you plan on improving our world. Check out my post for more tips on how to dig deeper.
  2. Be more active on social media. Mix personal posts, with inspirational shares and promotions about your business.
  3. Get involved with politics. What cause does your business address? Attend local events that address these issues and be vocal about your stance.

Take Action: And now I want to hear from you. Which of these three tips will you implement today?

If you would like more tips on how to build a business like the rich and famous, sign up for my weekly newsletter.

 

Danetha Doe is a celebrity business strategist and founder of the entrepreneur's lifestyle blog, Money & Mimosas. Connect with her on Twitter and Instagram, @danethadoe.

Introducing Reese Witherspoon's lifestyle brand

Hi Gorgeous!

 

Did you hear about Reese Witherspoon's new business??

OMG. We are so in love with it. It's called Draper James  and it's a lifestyle brand with an online store. The vibe is Southern charm mixed with a blend of poised sophistication (totes Reese, right?) and will feature local Southern artisans. The products will include bed and bath linens, lingerie, handbags, home goods, fragrance and cosmectics, furnitiure, swimwear, stationary, baby gear and storage containers.

Time will tell how successful it will be. Our initial thoughts are that Reese should focus on 1-3 categories, initially, instead of offering every type of product under the sun.

But, in any case, we're really excited for its upcoming launch and wish her nothing but amazing success!

So...what can we learn from Reese? Here are 3 business tips:

 

  1. Have a pre-launch strategy. In a world of social media, PR is a must. Her site doesn't officially launch until May, but she is generating buzz now.
  2. Create a landing page that collects emails. Her store doesn't launch for another couple of months, but she has a destination site for consumers that may be interested. And it allows consumers to leave their email so she can stay in touch with them.
  3. Get as much free marketing as possible. You know I'm all about having a business budget and staying within it! Reese snagged free press for her site in InStyle and Cricket. Now, we aren't all fabulous actresses that can get a story in InStyle, but we all have access to media. In Reese's case, Cricket is a site founded by one of her childhood girlfriends. Reach out to your girlfriends and ask them to spread the word about your new product offering. 

Do you have a new product offering? Which pre-launch tip will you apply to your business?

Danetha Doe is a celebrity business strategist and founder of the entrepreneur's lifestyle blog, Money & Mimosas. Connect with her on Twitter and Instagram, @danethadoe.

 

 

3 ways to build a brand like Carmen Electra

Hi Gorgeous!


This week's wealth tip: Looking for a podcast that discusses the nuts & bolts of building wealth---that isn't going to put you to sleep? Check out So Money with Farnoosh Torabi. Named one of the Top 50 Podcasts by Inc Magazine, Farnoosh brings excitement and a refreshingly glamorous air to money topics. 


Over the weekend, Carmen Electra celebrated her birthday. We not only love Carmen for her glamorous hair and beautiful personality, she also happens to celebrate the same birthday as our founder, Danetha Doe.

In true Carmen glamour, she rocked out this weekend in a stunning glittering mini dress. And even invited her fans to her birthday party through a Twitter and Instagram post.

So, what does Carmen's birthday invite to her fans have to do with your or my business?

Carmen is the perfect example of an entrepreneur who loves to let her community get to know her personal side and, at times, hang out with her.

If we know anything about you, we know that you are building a tribe of loyal followers and cheerleaders. People who love what you do and what you stand for, and will support and promote you forever and ever.

Carmen gets this. And her willingness to be open is one of the biggest reasons why she has such a supportive community. Being personal, kind, and open, feels good to the soul and is really good for business.

How can you apply this to your business?

Here are three ways to get your community more involved and build a brand like Carmen:

  1. Show them the behind the scenes of your business. Are you rolling out a new program or celebrating a big accomplishment? Let them in on the fun with Instagram posts and tweets asking for their advice.
  2. Have a private Facebook group. Offer free office hours and answer questions that your group members have about business or life.
  3. Don't be afraid to be vulnerable. If you're going through a challenging time or need help with something, let your community know! We're all here to help each other and your community would love to be able to support you.

Now we would like to hear from you. Did any of these tips help you? How do you get your community involved in your business and brand?

Leave a comment below!

Cheers,

The Team at Money and Mimosas

Helping kick ass, boss babes build wealth with style. Check out our program- the #1 financial resource for entrepreneurs.

www.moneyandmimosas.com