Single Black women have a median wealth of $200 and those with kids have a median wealth of $0, according to Dr. Maya Rockeymoore, President of the Center for Global Policy Solutions. With such statistics looming, building assets and ultimately wealth is a top priority for Black women. If you’re a Black woman and you’re reading this, what that really means is increasing your income. How you increase your income should become more and more strategic, if you want to overcome such statistics for your personal balance sheet. One effective way to do that is to leverage your 3E’s: education, experiences and expertise.
Education is not only your formal education, meaning high school, college, graduate and doctoral degrees, but also, any certifications, trainings, self-education and coaching you complete. How you educate yourself is changing,with the internet and you must not exclude any circumstance that lends itself to your growth and deepens your knowledge base for an industry, topic or particular field. Your education was an investment, so you should strategically make decisions about how to leverage it, in order to get a return on your investment. Be sure you understand the value you add and how that value translates into an appropriate salary that supports your expenses, your needs and your goals.
Experiences are good and bad and we all have them. However, we may not leverage our experiences for profit and that’s where we are leaving money on the table. When you go through something bad or unfavorable, but you survive, that is now a lesson. When you go through something good or favorable, that’s an opportunity to celebrate success. Both of these experiences are valuable and can add value to someone else’s life, when and only when the experiences are shared. This is why people pay for information. Black women in particular have so many varied experiences that can lend themselves as solutions to other people’s problems. However, if we are not sharing our experiences in a way that can be monetized, not only are we leaving money on the table, but we are failing to serve those who can benefit from our testimonies and trials; who are seeking the solutions we already have and who are willing to hear from someone who has been there and done that, in order to move forward and online casino in canada overcome their obstacles. Experiences can be packaged and sold through entrepreneurship, consulting with unlimited income potential. Some examples of experiences that can be monetized are: losing weight, becoming healthier, making more money, surviving abuse, telling other people’s stories, improving brands, marketing something, teaching people how to do something, coaching people on making change, communicating in relationships, becoming a better parent/caregiver, cooking, exercising and training, hitting rock bottom, and so much more.
Expertise is all about getting paid for what you do best. When combined with your education, it’s getting paid for what you know and what you do. If you’ve been on your job for 20 years, you’re an expert at what you do. It doesn’t matter what it is you do. You could even have changed jobs every year. In that case, you’d be an expert on the operations of the company. That insight is valuable. That becomes your intellectual capital. When combined with your experiences, you can charge top dollar for what you know, what you’ve been through and what you do best. Companies and individuals are in fact paying top dollar for what you know, what you bring to the table and how well you do it. However, if you’re not putting yourself out there as an expert, you’re missing out. Go ahead and write your book, build a course, or offer what you know and what you do well for a fee.
Think about all of this. Think about your education, your experiences and your expertise. Are you leveraging all of them appropriately? Take a look at the latest version of your resume. Does it reflect all of your education, experiences and expertise? If not, you need to create a master resume, that encompasses all you’ve done, all you know and all you’ve been through, so its documented.
Stop sitting on your 3E’s and put them to work for you. Take a chance on yourself to activate a stream of income from each area. Are you up for the challenge? Your wealth depends on it.
Join Black Beautiful Abundant and start putting your 3E’s to work! Need help doing this? Email me, let’s talk about how I can help you to start leveraging your 3E’s, Dominique@reesefinancialservices.com