Bold Business Advice for Bloggers from Hilary Duff

My Interview with Hilary Duff for Entrepreneur.com

Photo credit: Hilary Duff

Photo credit: Hilary Duff

I was shocked when GlassesUSA.com first approached me about creating a capsule collection with them. I thought to myself, what could I offer to this big corporation? Why would they want to work with me? But, then I checked in with myself and remembered my worth. I remembered that I do have value and expertise to offer.  As a blogger and business owner, you may feel insecure about your worth. I certainly do at times! But, remember that your skills are valuable and don’t be afraid to boldly pursue your dreams.
— Hilary Duff

Designing a collection with a well-known brand is a dream for many bloggers and creative business owners. So I caught up with Hilary Duff to ask how the opportunity came about and advice she could share with other entrepreneurs on how to make this dream a reality for themselves.

Me rocking one of the shades from Duff’s collection!

Me rocking one of the shades from Duff’s collection!

In case you didn’t already know, the beloved star from Lizzie McGuire, is now a mom and a total BOSS. After her Disney days, the actor has been boldly spreading her entrepreneurial wings and expanded her brand to include a vast array of business opportunities. From collaborating with Jif Peanut Butter to host an entrepreneurial contest for kids to designing a capsule collection with eyeglass company, GlassesUSA.com.

GlassesUSA.com is a major online retailer of prescription eyewear. In 2015, they raised a $12.5M growth round. And now accept orders from 92 countries with 40,000 daily website visitors.

When Duff first learned that the company was interested in working with her, she had a moment of disbelief and questioned if she could be of true value to them. However, the soon to be mom of two was excited for the challenge. She was yearning for a creative outlet and designing a collection felt like the perfect fit. She also loved that the brand was open to giving her complete freedom to design a collection.

Danetha on Money & Mimosas

The collection launched in January of this year and was met with immense success. Such success, that the online eyewear retailer has teamed up again with the actress & recording artist to launch the Bold Capsule, a limited-edition collection with Hilary Duff. The new line is a call-to-action for women to feel empowered and let their colors shine through; it’s an invitation to dare to be bold. The collection launched on Wednesday, September 5, 2018.

Courtesy of GlassesUSA.com

Courtesy of GlassesUSA.com


One of my main takeaways from Duff, was to be bold as an entrepreneur and treat your brand like a business. Which means taking control of your finances. The best place to start is to separate your personal and business finances by opening up a business bank account. Check out Radius Bank’s Business Tailored Checking! It’s made for the small, independent business owner (like you and me!). And you will earn 0.75% on balances over $10,000.

To read the entire interview, check out the post on Entrepreneur.com


This post is sponsored by Radius Bank.

3 Business Takeaways from Rihanna's Savage X Fenty

Ooooweeee. Rihanna has struck again. Reporters are now calling the popstar, a mogul and an entrepreneur to watch.

Yesterday, the Bajan beauty showcased her new lingerie collection at New York Fashion Week.

Danetha Doe on Money & Mimosas

The show was provocative, timely and has the fashion world buzzing. From the incredible designs to the strong message of inclusivity and diversity, Savage X Fenty’s fashion week debut is one that all of us can learn from as entrepreneurs.

Three business takeaways from Savage X Fenty

  1. Create a memorable experience. Most collections at NYFW showcased their products in a traditional runway format. Rihanna bucked that idea and created a full-on show. That was both entertaining and inspirational. Whether you are debuting a new product or service, think outside the box on how to make the interaction with your brand one worth remembering.

  2. Incorporate an inspirational message. Rihanna and her brand is all about helping all women feel confident and sexy. Note the emphasis on all women. In her NYFW show, she chose to include models that didn’t fit the stereotypical model definition at fashion week. One woman was pregnant, a few women were curvier, and every shade was represented. Whatever your brand stands for, make a clear statement that this is the message that you are committed to spreading through your business.

  3. Build community. Rihanna could have easily been the face of the Savage X Fenty show at NYFW. Instead, she chose to wear a simple dress and dark shades, while the other models slayed it on the stage. Allowing others to be the face of your brand is a thoughtful way to create loyalty, give others a chance to shine and show that your business is passionate about representation!

    My Two Cents

Danetha Doe on Money & Mimosas

Rihanna KILLED IT with the show. And did an incredible job with following up the performance with a pop-up shop in NYC. Fantastic planning and execution all around. I can’t wait to see how the lingerie collection performs over the next 12 months.

Want more celebrity business tips? Sign up for the Money & Mimosas insider list.

And speaking of memorable events, be sure to check out The Socialites X Money & Mimosas next event. A burlesque show in Walnut Creek, CA. Click here for details.

The Socialites by Money & Mimosas

The Socialites by Money & Mimosas

7 Steps to Live Like The Rich and Famous (that your CPA won't tell you!)

Take a moment to imagine your dream life coming true.

Brunch date with the girls on Monday followed by a shopping spree that is pleasantly interrupted by your business manager calling to inform you that you’ve been booked for a gig with two of your BFFs in Venice on Wednesday. Time to pack your bags, ladies.

Socialites on Money & Mimosas

Late that night, you and your girls are escorted in a black sedan to the private plane waiting to escort you to Italy. The plane is fully stocked with fresh fruits, charcoal infused water, and fresh halibut. You arrive in Venice and are taken to the exquisite Il Pellicano, a hotel co-founded by a fellow American socialite.

The next couple of days are a whirlwind of photoshoots, interviews, meet and greets, capped off with an invite-only fashion show on Friday night. You and the girls take the next day to explore the city, before jet-setting back to the States.

The life of a Socialite is one for the adventurous, passionate, woman who is in a position to drop everything in a moment’s notice for an opportunity of a lifetime. An opportunity that allows her to experience life to its fullest and indulge in the absolute finest.

Money & Mimosas

 

While this may seem like the life only afforded to those that have been lucky enough to be born into immense wealth,  or the life of the rich and famous... it is also possible to anyone willing to take the steps needed to create the life of their dreams.  

Here are the seven steps to take to live like the rich and famous.

  1. Create a vision board. What are your goals and aspirations? What is the type of person you want to become in this world? For a step by step guide on this, google and check out The Painted Picture.

  2. Write down all the reasons why you CAN’T achieve your vision. Then, write down why all of those negative reasons are false Often times our mindset is what gets in the way of us accomplishing what we want. What are some negative things you say to yourself when you think about the goals you want to achieve? On that same sheet of paper, cross out all of the reasons why you can not achieve your dreams and replace it with why you can achieve them.

  3. Put together a plan of action. What do you want to accomplish 30 days from now? 90 days? One year? Clearly defining a timeline is the difference between a goal and a wish.

  4. Reevaluate your money habits. Want to live like the rich and famous? Well being “rich” takes money and understanding how it works so you can hold onto it. Take a hard look at some of the financial habits you have that are not serving you and commit to changing them.

  5. Boost your savings. Getting into the habit of paying yourself first is a trait of those that have achieved success. Open up a savings account and make it a habit to pay yourself a percentage of your income on a weekly or monthly basis. Check out Radius Bank’s high-yield savings account. This has one of the highest APY rates on the market.

  6. Launch a side hustle. Everyone from Beyonce to the CEO of Apple has multiple income streams. Take a few moments to think about your passions and how you can leverage them into a money-making side hustle. Be sure to check out my post on the 14 steps for launching a side hustle and the Celebrity section for business insights from our favorite celebrities.

  7. Surround yourself with luxurious experiences and successful people. In order to believe in what is possible for you, you have to first see it. Either in your mind’s eye or in the real world. Placing yourself in situations and around people that elevate your vision of what is possible, will create a huge shift in your reality.


Bonus: Last, but definitely not least, commit to becoming financially healthy and fit. Be sure to check out my 5 tips on how to be financially fit. Especially, focus on tip #3- a weekly money date where you review your finances, and treat yourself to a mimosa. Because having fun with your money is what #MoneyandMimosas is all about!

This post is in partnership with Radius Bank.

For more tips on how to lead a financially independent life, sign up for my weekly Money & Mimosas Insider list.

Very Cavallari, Episode 4. Season 1.

"It's no fun to be 24 and relying on your dad for money." - Reagan.

Kristin Cavallari.jpg

The search for new employees continues with Kristin conducting second-round interviews for sales associates. Simultaneously, the drama continues between the employees of Uncommon James.

The tension is exasperated when Taylor, Shannon's BFF, comes in for an interview with Kristin. Kristin is hella direct with Taylor and says that she will not hire her because "me and Shannon have had our challenges." 

Hmmm. I totally agree with Kristin's hesitation to hire Taylor because it's likely that "little clicks of girls" will form in the store and cause unnecessary drama. However, it was completely unprofessional for her to bring up Shannon's name during the interview. 

Taylor tells Shannon what went down, and Shannon is understandably upset. Kristin calls a team meeting with Shannon, Brittainy, and Reagan to explain why she won't be hiring any of their BFFs. And that if the drama between the girls continues, she will have to start letting people go.

The BOSS.

The BOSS.

Moving on from the employee drama, in this episode we meet Reagan's mom. While she and her mom are driving, Reagan shares that she is ready to take her finances more seriously.

It’s no fun to be 24 and relying on your dad for money. Slowly, but surely, I’m becoming an independent woman.
— Reagan from Uncommon James
Reagan, originally from Alabama, now the assistant at the Uncommon James store in Nashville.

Reagan, originally from Alabama, now the assistant at the Uncommon James store in Nashville.

Way to go, Reagan! I'm over here cheering you on your journey of financial independence. Are you feeling the same way as Reagan? Ready to be an INDEPENDENT woman? Here is my advice to Reagan and you!

Danetha Doe on Money & Mimosas

My Two Cents

I absolutely love Reagan's carefree attitude at work. On several occasions, she shares that she thinks people take work too seriously and it should be more fun. I completely agree!

However, there needs to be a balance. Especially if you are committed to becoming financially independent. I've met, and mentored soooo many women, just like Reagan. Women who lack discipline when it comes to their finances health. Finances are just like fitness. You need to have a consistent routine and sometimes it's not all fun and games. 

A Money & Mimosas money tip

If you truly want to be financially independent, you have to develop a disciplined approach to your money. The first step to take is to have a weekly money date with yourself. Pull out your calendar and choose one day per week that you will check in with your money for fifteen minutes. During the date, you will review your income, bills and transfer a percentage of your income to your savings account. 

For more tips on what it really takes to be a financially independent woman, check out this post.

For more celebrity business news and money tips that I only share via email, sign up for our Insider List.

 

 

 

 

Very Cavallari, Episode 3. Season 1.

“This isn’t a sorority, this is a business. I’m not trying to hire a bunch of friends.” - Kristin Cavalleri

kristin-cavallari-2018-grammy-awards-in-new-york-4.jpg

As Uncommon James prepares for their store opening, the team is quickly scaling up their retail staff. And Kristin Cavallari is putting down the hammer and setting clear expectations for who she wants on her staff.

Kristin has put Brittainy in charge of conducting interviews, alongside Reagan. Together, they are filtering through the candidates and reporting back to Kristin to make the final decision.

One of the candidates is Taylor, a model for Uncommon James and one of Shannon’s best friends. Without getting permission from Kristin, Brittainy and Shannon meet up with Taylor for dinner- and Brittainy offers her the job. WHAT.

A big mistake because Kristin made it clear that she has the final say on who is hired. And laters shares, she had offered Taylor a job in the past, but Taylor had turned it down.

The episode continues with the drama between the employees. Now between Shannon and Reagan. Reagan feels that Shannon treats her like “hired help” and doesn’t respect her as a person. The two exchange heated words during Wirth’s housewarming party (Wirth is another Uncommon James employee) and the episode ends with the situation between the two, unresolved.

The Uncommon James team.

The Uncommon James team.

Honestly, I don’t how the Uncommon James store will survive with all of this drama between employees. The strife between the women will be crushing for a business. Kristin will need to get these ladies back in check, OR let some of them go, because the energy is toxic and it will impact their bottom line.

My Two Cents

Danetha Doe on Money & Mimosas

Hiring is an art and a science. Something that I am still learning as an enterepreneur after having a few misses, myself. While many of us won’t have to worry about a fan girl trying to work with us (as so many of the interviewees revealed that they were “obsessed” with The Hills and Kristin Cavalleri), it is important to see if the interviewee has done their homework on the brand or are only interested in a paycheck and/or just having a good time. 

Ask your potential hires if they had previously shopped at your store? What do they know about your brand? Why do they care about its mission?

Your employees are ambassador for your company and it's important that they believe in your vision.

A Money & Mimosas money tip

Hiring staff is something that we’ll have to do if we want to grow our business and see our vision come to life. It is a HUGE commitment to bring someone on to your team, both emotionally and financially. Generally speaking, employees end up costing a company 2X their salary in the first year with all of the on-boarding and training costs.

As a small business owner, start slowly. Bring them on for a project and as an independent contractor. Check out Task Rabbit or Freedom Makers Virtual Assistance Services to help you navigate the process. Not sure if you're ready to hire someone? Read my post, Is it time to hire someone?

For more celebrity business news and money tips that I only share via email, sign up for our Insider List.

Very Cavallari, Episode 2. Season 1.

kristin-cavallari.jpg

This episode includes a BIG day for Kristin Cavallari. The Uncommon James company is officially moving out of Kristin and Jay’s hom and into its own office. Much to the relief of Jay, who strongly dislikes having people traispe through the house. Can't blame him, I'm also hella protective of my space. And if Shannon came through, I would be for sure sage-ing the effff out of it. 

Anyhooo, I digress. Moving into a separate office is a HUGE goal for many entrepreneurs. But, the celebration is quickly overshadowed by the strife between Shannon, the social media director, and Brittainy, the store manager. Of course, we need drama. It's reality TV.

Shannon, who has a very strong, bullish personality and doesn’t like to take direction from anyone (including at times, Kristin), is adamant about maintaining control over her duties. The dynamic between her and Brittainy is a tricky because Brittainy was hired after Shannon. But brought on as her boss.  

Shannon is like, "hold up, I was running this before this Philly chick got here." And Brittainy is all like, "girl, please sit your Southern belle non-working ass down. I run this now."

My words. Not theirs.

A situation I can relate to, at least from Brittainy's perspective.  My first “big girl” job was as a retail manager at Target earning $42,000 a year. I was twenty years old and in charge of managing a staff of thirty or more people, many of whom were in their forties or older, and had been with the company for several years. Like Shannon, my team had a way of doing things and were sometimes unwilling to take direction from a new person. Much less a younger person. 

Shannon and Brittainy.jpg

Kristin has made it clear that is in fact Brittainy’s role to corral Shannon and make sure that she does her job. Which is to curate and post content across the company’s social media channels including Pinterest, Twitter and Instagram. Fun business insight: Kristin shares that 90% of the company’s sales are driven from social media and is a critical component to Uncommon James’ success. 

Although Shannon is really good at her job, she is very inconsistent. Letting weeks go by without posting on Twitter or engaging on Pinterest. Brittainy brings this up and shares some social media suggestions. Shannon is not open to hearing feedback, and retorts “I need to know expectations because I can’t read y’all’s minds.”

Hmmm, perhaps this is where the breakdown is between the two? That neither is clear on the expectations of each other or has clear measurements for success?

In true reality show form, the episode continues the drama and brings it from the workplace to Shannon’s personal life. She and her boyfriend get into a fight, causing him to storm out of the restaurant without saying goodbye.

I am so unbelievably NOT interested in the romantic relationship drama, but I bring this up because the lover's quarrel offers an opportunity for the two women to connect and mend their work relationship. For the time being...

For Kristin and the success of Uncommon James' sake, I hope these two continue to be cordial. Ready for my two cents on the business takeaway from this episode?

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My Two Cents

Goodness, managing a team takes a lot of interpersonal skills. As a boss, not only does Kristin have to make sure that the work is getting done. But, she also has to manage the various personalities and the individual needs of the staff. The biggest takeaway I had was the importance of setting clear expectations for employees and understanding what motivates each person. A tool I like to use to be able to manage against tasks is Asana. Also, the book Drive by Daniel Pink is fantastic for better understanding what motivates your team members.

A Money & Mimosas money tip

As you grow your staff, it is important to invest in team building activities. I'm not sure if Kristin is doing this, but if I were advising her, I would highly recommend that she starts. Taking the ladies out on a hiking trip or bringing in a speaker to do personal development training for her staff could make a huge difference. What do you say? What is your advice to Kristin as she grows her business?

For more celebrity business news and money tips that I only share via email, sign up for our Insider List.

Very Cavallari, Episode 1, Season 1.

“Every girl needs enough money that she can get up and walk away if she needed to,” - Kristin Cavallari, CEO of Uncommon James.

Kristin Cavallari

The reality star from Laguna Beach and the Hills is back and in total BOSS mode. Seven years after she said goodbye to reality TV, Kristin Cavallari decided to team up with E! Entertainment to executive produce and star in her new show, Very Cavallari.

The Kristin of today is a far more polished and evolved version of her high school self. But, has also held on to the sassy, take no shit, personality that we all fell in love with (or loved to hate) back in the day. She is now a mom of three, married to the former NFL player - Jay Cutler- and is the CEO of the successful lifestyle brand, Uncommon James. The show focuses on Kristin as an entrepreneur and the lives of her employees as they help her build her company.

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The husband-wife dynamic is very interesting. Jay is now a stay at home dad while Kristin works tirelessly to get her new store up and running. In a scene where Jay and Kristin are driving, Kristin makes it clear that she is determined to be a financially independent- YOU. GO. GIRL.- saying that “every girl needs enough money that she can get up and walk away if she needed to. I’m with you [Jay] because I love you, not because I need you.” Then coily adds, “Power of the Pussy.”

“Every girl needs enough money that she can get up and walk away if she needed to. I’m with you [Jay] because I love you, not because I need you. Power of the Pussy.
— Kristin Cavallari

Can we give Kristin a hell yea!! Way to show the world that you are BOSS and understand the importance of women mastering their money. Which is everything that Money & Mimosas stands for. After sacrificing some of her dreams over the last eight years, while Jay played football, Kristin is unapologetically pursuing her passions. BOSS.

The first episode opens up with introducing us to the Kristin and Jay’s new home city, Nashville, and some of the people that Kristin is closest with.

Jay Cutler, her husband of five years, recently retired from the Chicago Bears and is a stay at home dad managing a lot of the household duties - such as picking the kids up from school and tending to the lawn.

Kelly, a groomer for celebrity musicians, is one of Kristin’s best friends. She’s 35 and single, and eager to find the man of her dreams.

Shannon and Reagan are two Southern belles who are both employees of Uncommon James.

Shannon Uncommon James.jpeg

Shannon is the social media manager, which Kristin says is the “most important job” because the majority of their sales originate from social media.

Reagan Uncommon James.jpg

Reagan is the office assistant. Don't be fooled by the "blonde with the big tits" as some affectionally call her. She is witty and very sharp.

Brittainy Uncommon James.jpg

Kristin’s third employee, Brittainy, was recently hired and is the soon to be open store manager. A hardworking woman from Philly, she has a gritty, no fluff edge to her that we quickly see clashes with the Southern belles who have no issue smiling in your face then talking shit behind your back.

Up until this point, Kristin has run Uncommon James from the couple’s home. And is working on opening her first brick and mortar location. The store will carry curated items from her line including jewelry and home goods. We are given a first-hand glimpse into the behind the scenes of taking an e-commerce platform to a physical store reality. It is quite a process, and an expensive one at that,  as I learned when I helped one of my very first clients open a fashion boutique after selling online. 

Here is my two cents on the business lesson we can learn from this episode.

Danetha from Money & Mimosas

My Two Cents

If you are in a committed relationship, it’s important to communicate your needs as an entrepreneur. Kristin shows us that we can love, adore and cherish our husbands - and still be fiercely financially independent. The key is to let the other know why pursuing your passions is so important to you, so that your beloved can help you. In this case, Jay helps with picking up the kids and minding some of the household duties so that Kristin can focus on her business.

A Money & Mimosas money tip

As you can see from the episode, it is quite an investment to open a brick and mortar. I hope that in future episodes, Kristin shares more of the financial insights from running a business. Regardless, my advice to you is to not jump head first into opening a physical location. Start with doing pop-up shops, or a pop-up shop in one location, to gain some foot traction and a loyal following before committing to a 12-month plus lease. In the Bay Area, there are locations like the Crocker Galleria in San Francisco, Broadway Plaza in Walnut Creek or Pophood in Oakland. To find locations in your area, check out Peerspace or collaborate with a local business owner and ask if you can rent out space for a short-period of time to test your retail concept.

For more celebrity business news and money tips that I only share via email, sign up for our Insider List.

Cheers,

Danetha

"What's Hot" June Fashion Trends with the Walnut Creek Socialites

It’s official, summer is here! ️ Are you excited for all the pool parties, BBQs, blogger events and photoshoots?! We know we are! We are so excited about Money & Mimosas to collab with thredUP on our first ever fashion trends video. 

We LOVE thredUP because it is the perfect shopping destination for bosses, like yourself, who enjoy the finer things in life and care about being financially and environmentally responsible.

They are the largest secondhand online store and carry brands from Gucci to Gap! 

We partnered with THE Bay Area's fashion trendsetter, Shalini of Dress Up to Dazzle to put together some some HOT fashion looks. For all you bosses looking for some fashion inspo for this summer’s hottest events, check out this fun video collab...

Here are the deets from the looks!

Shalini's Look:

Romper - Ella Moss

Value - $242

thredUp's Price - $60.99

Shoes - Nine West

Value - $119

thredUp's Price - $28.99

For Shalini's outfit, we wanted to go for a look that looks like you spent hours putting together but in reality only took a few minutes!  Rompers are so easy to put on and looks like you put a lot of effort getting ready. 

Shalini from Dress Up to Dazzle

The Ella Moss romper is a vibrant pastel blue/periwinkle with a subtle polka dot pattern and has gorgeous lace/crochet detailing on the shoulders and the back.  It has cute ruffle detailing at the bottom to make it girly and flirty, and a wrap top which is very trendy. 

For the finishing touches, we added a pastel yellow peep toe heel to contrast the color of the romper and make the outfit pop even more for spring time. 

Danetha from Money & Mimosas

Danetha's Look:

Shorts - American Eagle

Value - $49.95

thredUP's price - $17.99

Shirt - Forever 21

Value - $12

thredUP's Price - $4.99

Jacket - Gap

Value - $89

thredUP's price - $23.99

Shoes - Rocket Dog

thredUP's price - $59

Our Price  - $17.99

Crossbody - Unbranded

Value - $60

Our Price - $27.99

Danetha on Money & Mimosas

For Danetha's outfit, we wanted to go for a sporty/casual chic look.  Denim cut offs are a staple for the warm weather.  The floral embroidery and the pop of red at the bottom takes this look to the next level. 

Instead of wearing a plain white tee, we added a crotchet crop top to give the look a little more depth and girly spring feel without being over the top. 

To tie the look all together we threw on a cropped green utility jacket, a circle cross body, and added cutout brown heeled booties which are spring wardrobe essentials!

Danetha & Shalini on Money & Mimosas

What are your favorite pieces from these two looks? Let us know in the comments!

3 money lessons women can learn from Hollywood moms, Mo'Nique and Catt Sadler

Unless you live under a rock or are dangerously naive, you are aware that we have a huge gender wage gap. In 2016, women working full-time in the United States were paid 80% of what men were paid.

The American Association of University Women (AAUW), the nation’s leading voice promoting equity and education for women and girls, conducted an in-depth research study and produced "The Simple Truth about the Gender Pay Gap" report. 

The impact of the pay gap has intensified over the years as more mothers take on the breadwinner role in the family. According to the report, 42 percent of U.S. mothers are primary breadwinners.  Which means that men, girls, boys, everyone are negatively impacted by the wage gap. And it is in everyone's best interest to create a society where women are paid equally and mothers are fully supported in the workplace.  

Taboo Topics in Business is a popular event series I co-lead with gender equity consultant Emily Howe.    Wanna join and be a part of the solution? Click the image to RSVP to our next event.

Taboo Topics in Business is a popular event series I co-lead with gender equity consultant Emily Howe. Wanna join and be a part of the solution? Click the image to RSVP to our next event.

To further exacerbate the problem, moms are financially penalized for being moms.  When stay-at-home and part-time working mothers decide to return to the full-time workforce, many encounter a “motherhood penalty”. Studies show that employers are less likely to hire mothers compared with childfree women, and when employers do make an offer to a mother, they offer her a lower salary than they do other women (Correll & Benard, 2007; Kricheli-Katz, 2012). In contrast, many fathers actually receive higher wages after having a child, known as the “fatherhood bonus” (Killewald, 2013; Budig, 2014).

Hollywood Moms, Catt & Mo'Nique

The wage gap crisis is grabbing more media attention as women from the tech industry to Hollywood are finding their voice to stand up against injustice.

In December of 2017, Catt Sadler announced that she was leaving E! News after working there for over a decade. Her reason for leaving? On her blog, she wrote that it was because she was earning less than half of what her male co-host earned. A co-host who started at the same time, held the same work responsibilities and has the same public profile. How did Catt know about the pay discrepancy?

A year prior in 2016, a female colleague had informed Catt in confidence that Catt was being severely underpaid. This was after Catt had been given a significant increase in work responsibilities. She took the next year to work her ass off (note- she had already worked her ass off for over a decade) and when it came time for negotiations, she felt assured that the network would "do the right thing".

Well, apparently the "right thing to do" from the network's perspective was to not offer Catt a raise. So, what did Catt do? Catt Walked.

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Mo'Nique faced a similar egregious situation. She was offered a deal from Netflix. Netflix had previously offered Chris Rock and Dave Chappelle $20 million, each. 

Amy Schumer was originally offered $11 million for her Netflix deal. Amy shares the same agent as Chris and Dave, and her agent asked for an increase in Amy's offer. They settled on $13 million.

What was Mo'Nique offered?

$500,000.

After Mo'Nique shared this publicly, Wanda Sykes spoke up and said she had been offered less than half of what Mo'Nique was offered.

My Two Cents

I'm not interested in opinions- mine included.  I'm interested in dollars.

In case I was not clear above, Catt Sadler's workload doubled and she was paid less than half.

Amy was originally offered 55% of the dudes' deals, before her agent renegotiated for 65% (btw, Amy is still the only female comedian to make the Forbes' highest paid comedians list- which you can read here.)

Mo'Nique was offered 2.5% of Chris and Dave's deal. Should Amy and Mo'Nique earn as much as Chris and Dave? No. But, can we get close?

My calculations show that Catt is earning fifty cents on the dollar. Amy is earning sixty-five cents. And Mo'Nique is earning two cents.

Two cents on the muthafuckin dollar.

What you can learn from this

Women will not experience equality until we achieve parity. Money is power and as long as there is an unfair distribution of wealth, #metoo situations will continue to exist and the fabric of our families and communities will continue to erode. 

As women, here are three things you can learn from Mo'Nique and Catt Sadler to take back your power and elevate your financial status.

  1. Talk about money with your girlfriends. The only way we can start to close this gap is by openly talking about money with each other. In the Money & Mimosas community, members are encouraged to share how much they charge and insights on how they negotiate deals. The more you talk about money, the more confident you will feel in owning your worth. Not sure where to start? Click here for tips on how to talk money with your girls.

  2. Be prepared to do the Cattwalk. In Catt's interview on The View, she said that she boosted her savings account in case she decided to leave her job. Every woman needs to have F U Money, whether it's to leave a shitty job or a shitty lover. Get into the practice of always setting aside money from your paycheck to keep for yourself. It's the best form of self-love.

  3. Maintain multiple revenue streams. If you are working a traditional corporate job, pick up a side hustle. If you have a small business, maintain multiple revenue streams. Options are the key to financial independence.

What's your two cents? Let me know in the comments below.

If you’d like to be a part of the solution, join me and Emily Howe at our next Taboo Topics event in San Francisco. Click here to RSVP.

For more celebrity business insider info and VIP event invites, click here to get weekly success tips.

 

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.

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 a private business advisor for celebrities, professional athletes and successful entrepreneurs.

3 Business Lessons Learned From Beyoncé's Formation Album

Beyonce- Formation Album

Original post from February 8, 2016 and Blavity

All hail the Queen. The entrepreneur, mogul, entertainer, activist, beauty queen has reminded us (again) that she rules the world. 

Beyoncé's surprise release of Formation just before her Superbowl performance is an exquisite example of a BOSS who is on top her game and in a league all her own.

 

The world and the Internet went nuts on Saturday when the video was released on TIDAL, Jay Z's music streaming service. Followed by her stellar performance at the largest sports event in the world and subsequent announcement of a 40-city tour, everyone from the New York Times to NPR to celebrity gossip blogs was talking about it.

 

As an entrepreneur, Beyoncé's command of her business is exceptional. The level of focus, precision, coordination and flawless execution is second to none. And the release of Formation is yet another example of why BOSS Beyoncé runs a $250 million empire.

Photo: Beyonce.com

Photo: Beyonce.com

Here are three business lessons I learned from Beyoncé this weekend:

 

1. Compound your multiple revenue streams

In my last post about Beyoncé's business, I highlighted the importance of having multiple revenue streams. As an entrepreneur, the strength of your business is determined by how many ways you can attract cash to your bank account. You then need to take it to the next level and combine your multiple revenue streams.

Beyoncé not only released her music video on TIDAL, which is owned by her husband, a music streaming service where artists earn and retain a larger percentage of the revenue share.

She then promoted her song during her Superbowl performance, which she undoubtedly gets paid a PRETTY penny to do.

And finally, after the performance she announced her 40-city concert tour. Getting paid on paid on paid. At every turn, Beyoncé is earning revenue to do what she does best and to promote her products. Genius.

Takeaway: Create multiple revenue streams and brainstorm ways you can combine them in order to earn cash at every opportunity.

2. Create off-line and online experiences for your launch

While the launch of her music video was incredible, that is not Beyoncé's main source of revenue. In today's music industry, the artist generally earns the most money during their tours. The music video is a teaser, a marketing strategy, to promote her 40-city tour. 

Formation was an online experience for her fans and to get them excited to tune in and watch her Superbowl performance. 

Partnering with the largest sports organization in the world, she utilized The Superbowl opportunity to connect with her fans off-line. Reminding them why her tour performances are worth every penny. And the Formation tour, promoted by the Live Nation Global touring chairman, is where Mrs. Carter will make bank.

Her Mrs. Carter World Tour of 2013-2014 grossed $212 million from attendance of nearly 2 million to 126 shows, according to Billboard Boxscore. Following that tour, she launched the On The Run co-headlining stadium run with her husband, Jay Z which grossed $96 million from 832,769 tickets sold to just 19 shows in North America. (source: Billboard)

Takeaway: Identify your big money maker and create a marketing strategy that includes working with a larger brand.

3. Timing is everything

If nothing else, the success of a business is all about timing. Prior to the release of the Formation music video, Beyoncé has been criticized for not speaking up about police brutality and other racist events within the United States. 

Now the world, can shut their mouth. Between the black girl magic dance moves, the striking visual of the drowning police car with Bey sitting on top of it, and cutting lyrics of being a "Black Bill Gates in the making", Beyoncé makes it clear that she has not forgotten where she came from and that she 100% supports the efforts of Black Lives Matter.

And what better way to make a political statement than during the biggest live concert in the world. One week before the Grammy Awards. Well played.

Takeaway: If you have an impactful message, do not be afraid to share it in the biggest way possible.

Photo: the blackmedia.org

Photo: the blackmedia.org

And now I'd love to hear from you! What was your business takeaway from Beyoncé's launch? Let me know in the comments below.

Did you like what you read? Click here to sign up for the weekly #MoneyandMimosas newsletter for more celebrity success tips.

 

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 training you receive when you become a Money & Mimosas member. 

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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