Why You Should Let Go of the ‘Oversaturated Market’ Theory & Start Your Business

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For an aspiring entrepreneur, not only can the thought of starting a business be intimidating, but stepping into an industry saturated with your niche’s competitors can bring your business plans to a screeching halt and leave you wondering if you should try your hand at something else. If you have ever found yourself in this predicament, I am here to completely rebuke this mindset and provide you with insight on why you should let go of the oversaturated market theory and start that business you’ve been thinking about all year long.

As business continues to thrive in popular industries such as hair, beauty, and apparel, the term “oversaturated market” is being used more frequently to describe these fields. Last week, I found myself watching one of my favorite YouTubers discuss reconstructing her channel to include content outside of beauty due to the oversaturation of the YouTube space. While it’s obvious that the video-sharing website has seen a spike in creators looking to generate and share makeup-related content, I am a firm believer that no matter the type of content you create or the product you’re selling, the consumer will always gravitate towards whomever best suits their needs, so strive to be their top choice. Besides, crowded markets create healthy competition amongst its competitors, which keeps everyone on their toes!

According to a 2017 article published on Inc.com, testing an unproven market can become expensive, time-consuming, and risky. However, choosing to plunge into a saturated market provides clear signals about where opportunities lie. Just think about it, saturation means that there’s a strong demand and a line of potential customers waiting to see who can offer them the best deals on hair extensions, hair products, cosmetics, clothes, and so on. Every business should have something different to offer that sets them apart from the rest, so I would highly recommend researching your competitors to find out what they’re not extending to their customer base and use that to your advantage.

Have you ever thought about why no one has ever considered restaurants, nail shops, or grocery stores as oversaturated markets? It’s because each company has something different to offer, whether it’s excellent customer service, better prices, or great quality products or services.

The point is to focus less on the oversaturation of these industries and focus more on how we can contribute to them in a way that benefits both ourselves and our audience or customer base so that everyone wins. I mean, consumers, money, and opportunities are plentiful. There’s enough for everybody.

Now go start that business plan!

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The Los Angeles Film School Gives 1.5 Million Towards The Women In Entertainment Scholarship Fund Initiative

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The entertainment world has always been known as a male dominated industry, but things are changing. In an effort to help more women gain opportunities in the entertainment industry, The Los Angeles Film School has given 1.5 million towards the Women In Entertainment Scholarship Fund Initiative. According to Deadline, the long-term goal to create parity in female enrollment in the film school and its subsidiary The Los Angeles Recording School. The WIES fund will benefit incoming female students and is part of the Los Angeles Film School’s latest pledge to increase female enrollment to 50 percent of the overall student body. The scholarship program will start immediately, and will provide a one-time $2,000 award towards tuition for all newly enrolled female students. The scholarship can be applied towards and of LAFS’s degree programs, including Bachelor and Associate of Science degrees in Entertainment Business, Animation, Graphic Design, Music Production, Audio Production and Film.

“We realize we can do better and are proud to commit ourselves to affording a higher educational opportunity that charts a course to even out the starting gates for women,” says David Phillips, LAFS Special Advisor.

The Women In Entertainment scholarship also supports recent industry wide efforts to increase gender parity for women across the professional landscape. The scholarship programs will also aim to help level the professional playing field and develop a pipeline of well qualified and ambitious women leaders who will innovate across the entertainment industry for years to come.

Mellody Hobson Will Be Named The Vice Chairman of Starbucks

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Mellody Hobson, president of Chicago-based investment firm Ariel Investments will be named the vice chairman of Starbucks following the departure of Executive Chairman Howard Schultz on June 26.

Hobson is a Chicago native who has worked her way up after joining Ariel as a college intern in the 90’s. She went on to become the company’s vice president of marketing, then a senior vice president to eventually being the president of the entire firm. She has been a member of Starbucks’ board of directors since 20015 and has served on the boards of Estee Lauder, DreamWorks Animation, and Groupon.

Financial literacy has been the main focus of Hobsons community outreach. She also serves as chair on the board of directors of The Economic Club of Chicago and the After School Matters program.

Mellody Hobsons story is inspiring because it shows that you can work your way up and get a seat at the table.

Congrats Mellody Hobson!

Five Books That Will Help You Live Your Best Life

We are almost half way through the year. With that being said are their any goals that set for New Years that have now fallen by the waste side? Have you lost your motivation to work out or start that business? Well don’t worry because it happens to the best of us. Here are five books that can assist you in getting that hustler sprit back!

 

Year Of Yes: Do you have the tendcy to talk yourself out of things? Well if you do, you are not alone. In her book, creator of TGIT, Shonda Rhimes, tells a tale of how she was afraid of things such as public speaking and media interviews. During a Thanksgiving dinner Shonda’s sister uttered six words, “you never say yes to anything.” Shondra knew she could not go on like this so she challenged herself to say yes for a year to things that frightened her. The lesson that can be taught from this book is to rise to every occasion and face fear head on. In the end you will be pleased with the results.

 

You Are A Badass How To Stop Doubting Your Greatness And Start Living An Awesome Life: This is book that I swear by. In the book the author, Jen Sincero delivers a how to guide that includes advice, exercise and inspiration that help target behaviors that are self sabotaging and detrimental to our growth. By the time I had finished reading “You Are A Badass,” I was felt like my mindset had completely changed and I incorporated new behaviors that helped me walk in my bad assery.

 

Be You & Live Civil: Tools For Unlocking Your Potential & Living Your Purpose: “The first step to living in your purpose is to identify what sets you apart, as opposed to looking at what other people are doing and figuring out why you’re not like them.” I received this book as a gift I graduated college in 2016. I was feeling down because my peers were landing jobs at news stations and I wasn’t. I have always been bubbly while my peers were more serious. Now fast forward to 2018 and I’m doing great things and media too. One of the gems Karen Civil dropped in this book in this book is that you can be different and still succeed in life. We are in the social media so it is easy to get caught up in the lives of other and want to be like them. Karen encourages us to march to the beat of our own drum and stay true to ourselves.

 

Leave Your Mark: This book is all about advice on how to land your dream job. Author Aliza Licht gives tips for people who are in he beginning stages of their career and how to move the chain. She emphasizes on commutation and building a personal brand.

 

Prince Charming Isn’t Coming: How Women Get Smart About Money: A good friend of mine recommended this book to me after my boyfriend and I broke up. We were living together and he paid for everything. In the book the author, Barbara Stanny gives practical living advice and inspires women to take control of their money and their destiny.

 

What books are you reading to help you live your best life?

Meet Rosalind Brewer, Starbucks’ First Female and African-American COO

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On September 6, 2017, Starbucks announced the appointment of Rosalind Brewer to the role of group president and chief operating officer of the company, making her the first African-American and the first woman to hold the position.

In a press release, Starbucks CEO Kevin Johnson described Brewer as “a world class operator and executive who embodies the values of Starbucks,” adding that she reflects the “strength and diversity” of the organization.

With years of leadership, including her most recent position as CEO of Sam’s Club, Brewer is well-positioned to help the ubiquitous $84.6 billion coffee brand continue to grow. Below are a few facts about the girl boss:

She knows the importance of relationship building

 Before stepping into her role as Sam’s Club CEO in 2012, Brewer served six years in executive roles with Wal-Mart and 22 years at Kimberly-Clark, where she worked her way up from a research technician to president of manufacturing and operations.During her time at Sam’s Club, Brewer connected with Starbucks CEO Howard Schultz in a very unexpected way.

According to Fortune, Schultz came to the retailer’s Bentonville, Arkansas, headquarters in 2016 for a panel discussion with Wal-Mart CEO Doug McMillon. But when McMillon had to cancel at the last minute, he called on Brewer to stand-in (Sam’s Club is owned by Wal-Mart.)

From there, the two continued to build on their relationship, with Brewer and her team visiting Starbucks’ flagship “roastery” in Seattle, where Schultz asked Brewer if she would consider joining the company’s board. Fortune reports that Brewer initially declined Schultz’s offer, but joined Starbucks board earlier this year after stepping down from her leadership position at Sam’s Club.

Kevin Johnson, who took over as Starbucks CEO in April, tells Fortune that Brewer’s impressive work as a board member is what made him consider her for the COO role about two months ago as other board members agreed that she would be a great addition to the company’s executive team.

“She has been a trusted strategic counselor to me ever since she joined our board of directors, and I deeply value her insight, business acumen and leadership expertise,” Johnson said in a press release.

She makes diversity a business priority

In 2015, Brewer faced scrutiny after an interview with CNN’s Poppy Harlow in which she spoke about her commitment to enforcing diversity at Sam’s Club. As the first woman and African-American CEO of Sam’s Club, Brewer said she demands diversity on her team and that she openly talked to her suppliers about it as well.

“Every now and then you have to nudge your partners,” she said. “You have to speak up and speak out. And I try to use my platform for that. I try to set an example.”

Opening up about some of her experiences as a minority woman in corporate America, Brewer recalled one meeting she had with a supplier where she said “the entire other side of the table was all Caucasian male.” After explaining her plans to place a call to the supplier to address their lack of diversity, Brewer faced backlash on social media and was called a “racist,” with some consumers calling for a boycott of the retailer with the hashtag #BoycottRacistSamsClub.

McMillon came to Brewer’s defense amid the backlash and explained how Wal-Mart stood behind making diversity a business priority.

“Roz was simply trying to reiterate that we believe diverse and inclusive teams make for a stronger business. That’s all there is to it and I support that important ideal,” he wrote in a statement.

Brewer’s commitment to building diverse teams also aligns with that of Starbucks, which has emphasized diversity not only in the boardroom, but with campaigns like “Race Together,” and their pledge to hire 10,000 refugees.

She’s a proud Greek

Brewer is a proud graduate of Spelman College and member of Alpha Kappa Alpha Sorority Inc., who has been listed as the 64th most powerful woman in the world by Forbes and one of the 50 most Powerful Women by Fortune

Brewer was initiated into the Mu Pi Chapter of Alpha Kappa Alpha Sorority Incorporated, at Spelman College where she was a class of 1984 graduate.

Wall Street Veteran Edith W. Cooper Joins Etsy’s Board of Directors

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Etsy has announced that Wall Street veteran Edith W. Cooper is joining the board of directors. Etsy is an e-commerce website that sells unique, handmade, and vintage goods.

The announcement, made Wednesday morning, comes just months after Cooper’s retirement as partner and global head of Human Capital Management at Goldman Sachs, a leading global investment banking, securities and investment management firm.

“With Edith joining the board, we gain significant talent-management expertise, based on years of experience at leading global financial institutions. We are also honored that a person who called Brooklyn her home for many years is now working hand-in-hand with us to make our tech company even more successful,” said Etsy CEO Josh Silverman in a statement.

With over 30 years of experience in management and sales leadership at leading organizations across the financial services industry, Edith has used her broad experience in finance and focus on human capital to unlock innovation and collaboration in the workplace. A few of her past leadership roles were held at companies such as Goldman Sachs, Morgan Stanley and Bankers Trust. She’s also a member of the Board of Directors of Slack, the Museum of Modern Art and Mt. Sinai Hospital.

“Etsy’s mission to ‘Keep Commerce Human’ and its culture is revolutionary in the tech space. I have long admired Etsy’s drive to create value by investing in its people and fostering a diverse and inclusive workplace,” said Cooper. “I am honored to join the Board as Etsy continues to connect creative entrepreneurs with buyers around the world.”

Etsy was founded in 2005 and is headquartered in Brooklyn, New York.

Michele Lezama Named President And CEO Of National Action Council for Minorities in Engineering

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The National Action Council for Minorities in Engineering has announced  Michele Lezama as president and chief executive officer, effective March 26, 2018.  Lezama has worked in advancing minority communities in engineering with organizations such as GEM and NSBE prior to joining the NACME team.

With The National GEM Consortium, Michele Lezama served as CEO and executive director, pushing the organization to pursue their goals which are dedicated to increasing the number of underrepresented individuals pursuing and receiving advanced degrees in engineering, computer science and other STEM fields.  In this position, Lezama moved the headquarters from Indiana to Washington D.C., strategically placing GEM for advancement.

While serving as executive director of the National Society of Black Engineers or, NSBE, Lezama also achieved great success. NSBE works to increase the number of culturally responsible black engineers who excel academically, impact their community and achieve professionally.  Lezama is credited with taking NSBE and turning around the group’s financial position and creating a long-term investment structure. She received a Presidential Award for Excellence in Science, Mathematics and Engineering Mentoring from the White House Office of Science and Technology.

“I am honored and humbled to have been selected as NACME’s President and CEO. As a proud NACME Scholar Alum, I am excited to work with the NACME team to dramatically increase the number of high performing students who gain access to our nation’s most rigorous engineering and computer science undergraduate programs, to deliver exceptional outcomes for our university and corporate partners and to actively showcase the opportunities and successes of our nation’s diverse STEM community.” says Lezama in an official statement.

The NACME team is just as excited to have her on board.

“NACME is delighted to have Michele join the organization as president and CEO,” said Ray Dempsey, NACME board chairman. “Her transformational leadership style, and history of dedication and support of access to education for underrepresented minorities, is a great fit for NACME.”

 

 

Natasha Hemmings Named The First African American CEO of Girl Scouts Heart Of New Jersey

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Girl Scouts Heart of New Jersey has recently named Natasha Hemmings the CEO. Hemming’s begins her role as the first African American to be named the CEO of Girl Scouts Heart Of New Jersey and she has been described as a “longtime advocate of girl empowerment and Girl Scouting.”

 

“I am very thankful for this opportunity and extremely excited about partnering with the staff, board, volunteers, and community to make a positive impact on the lives of girls. I am also looking forward to expanding our network of G.I.R.L. Champions (Go-getters, Innovators, Risk-takers, and Leaders) throughout the region.” – Natasha Hemmings

Hemming’s will oversee a $6 million budget, 17,000 girl scouts, and 10,000 volunteers in 7 New Jersey counties.

Hemming’s is an experienced and educated leader, she holds a master’s in public administration from Rutgers University. She has 15+ years of experience in strategic leadership, community engagement, non-profit programming, and fund development. Hemming’s is also the chief marketing and communications officer for Girl Scouts of Central & Southern NJ.

Congrats Natasha Hemmings!

 

For more information, visit the GSHNJ website.

How Tia Norfleet, the First Black, Female NASCAR Driver, Is Shattering Barriers

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In a sport where females are still a rarity, Tia Norfleet has become the first African-American female driver to be certified by NASCAR and ARCA (the Automobile Racing Club of America). But she doesn’t let that stop her–or slow her down.

Native to Suffolk, VA, and living in Augusta, GA, today, Norfleet has made racing her life. She comes from a NASCAR family (her father, Bobby Norfleet, raced in the 90s) and spends as much time on the track as possible.

“You always want to keep the bread fresh, because it can get stale real quick,” she says with a laugh in a recent video for THINX by Harper’s Bazaar.

Norfleet had a passion for racing from a young age. Her father bought her a little Corvette at the age of 5 that she “literally drove… until the wheels fell off.” At 14, she knew she would spend her life in the driver’s seat.

“Just being a woman period is already a hard job,” she says. “So being a woman in a male-dominated sport, it allows me to bring out that inner beast, but gracefully.”

Norfleet doesn’t just deal with external pressures from the world, but internal ones as well. Diagnosed with PCOS (polycystic ovarian syndrome, a disorder characterized by small cysts that appear on the ovaries), Norfleet suffers from near-crippling pain and heavy, irregular menstrual cycles—two symptoms that could strike at literally any time. For hours at a time she is strapped to her seat, enduring G-force four times more than normal, and must remain laser-focused, or it could mean her life.

“For me being a driver, I could be in the car and boom, I don’t know when, where, how, but my period will come on,” Norfleet said to Harper’s. “I need protection and to make sure I’m not going to mess up my racing suit that costs $1,600. I’m not going to be caught slipping.”

Throughout everything, she stays on track.

Outside of racing, Norfleet also makes 80+ community appearances a year and participates in programs for the National African American Drug Policy Coalition and the Motorsports Institute, Inc. While she’s the only black female licensed by NASCAR currently, she advocates for more minorities to participate and follow her lead.

“What I stand for is something way bigger than me,” she says. “Hopefully I’m someone that someone can look up to and say, ‘She did it when no one else thought she would. She stuck with it to the end. She gave out before she gave up.”

Cynthia Marshall Named Interim CEO Of The Dallas Mavericks

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Amid tensions and scandals surrounding the Dallas Mavericks organization involving sexual assault and domestic violence, Cynthia Marshall has been named CEO and already has plans to return the business to excellence.  Marshall takes the place of former CEO Terdema Ussery,  who was implicated in reports of upholding the dangerous “toxic culture” along with vice president of human resources Buddy Pittman, and Mavs.com beat writer Earl K. Sneed, all three of which are no longer employed by the Mavericks.

Although taking over a company going through crisis may be a large task to face, Marshall already had announced plans to ensure the return of the Dallas Mavericks to good graces.

“Independent investigators are in the process of conducting interviews with current and former—we’re covering both—current and former employees. The purpose of the interviews is to make sure all issues and allegations are surfaced and addressed. We need everything to come out. Allegations will be thoroughly investigated and any required disciplinary action will be administered swiftly.” says Marshall.

Marshall who has the full support of team owner Mark Cuban plans to personally meet with all 140 employees of the Dallas Mavericks organization and complete the internal investigation to identify necessary changes.

“What I have learned is that it takes a team, it takes a village, and we will get this done. We’re talking about 140 people. But a culture transcends even beyond just our workplace.” says Marshall.

Cynthia Marshall joins the Dallas Mavericks after a 36 year long career with technology company AT&T, serving as their senior VP of human resources and the chief diversity officer before retiring in 2017.

 

 

Valeisha Butterfield-Jones Named Global Head of Women and Black Engagement

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Valeisha Butterfield-Jones has officially been named the Global Head of Women and Black Community Engagement. The co-founder of the Women in Entertainment Empowerment Network was named the head of Google’s Black Community Engagement back in 2016 and a year later she has moved up to Global Head of Women and Black Community Engagement. Valeisha is known for her outstanding work with women, girls, and the black community, so the shoe fits perfectly!

Congratulations Valeisha, what an amazing way to start 2018!

Elaine Welteroth Announces Departure From Teen Vogue, Signs With CAA

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On Thursday, Fashionista reported that Teen Vogue’s editor-in-chief Elaine Welteroth will be leaving the magazine, per an email sent to staff that same day.

Welteroth first joined the magazine in October 2012 and became the editor of its print edition in May 2016, at the age of 29, making her the younger editor in the company’s history, in addition to being only the second black woman to head a Condé Nast print magazine. In April, she was promoted to editor-in-chief of the publication.

According to a statement given by Condé Nast to Fashionista, Welteroth was offered several positions within the company, but ultimately chose to take her career “in a different direction:

“We talked to Elaine about a number of different opportunities but ultimately she decided to go in a different direction. She was instrumental in the successful launch of the Teen Vogue Summit and know that she will carry that same passion and enthusiasm into her next venture. We wish her all the best in what we know will be an incredible career.”

Shortly after, The Hollywood Reporter learned that Welteroth had signed with top talent agency CAA, indicating she will be transitioning to more on-camera work (she once appeared in a cameo role on Black-ish). According to THR, “CAA will work with Welteroth to expand her opportunities in film, television, digital, branding, and endorsements as well as speaking engagements.”

This morning, Welteroth released an official statement via her Instagram account:

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When I moved to New York City at 21 as an editorial intern, my greatest dream was to become Editor-in-Chief. It was a goal too intimidating to even say aloud. I was convinced it was totally out of reach for someone with no connections, no trust fund, and no fancy clothes. I pursued the path anyway. Eventually, I started believing the vision placed inside of me. I learned to shrug off the fear of failure, and how to refuse the urge to shrink—even when I was asked to. . Now, at 31, God has broken the glass ceiling on all of my wildest childhood dreams. My bucket list is all checked off and somewhere along the way I’ve managed to join the ranks of unstoppable women who’ve, throughout history, stared back into the face of the unknown and decided to MAKE IT HAPPEN. . Now, it is time to dream even bigger. . After six life-changing years at Conde Nast, I’ve decided to leave the company. Leading @TeenVogue at a time such as this, alongside some of the most talented people in the industry has been the most rewarding experience of my editorial career. It has helped me discover how to use my voice to empower young people and girls. This will continue to be a major focus for me as I take my next step—because beyond the compelling covers, and groundbreaking conversations we started online, cultivating this incredible community is what I am most proud of. . You are a beautiful, inclusive tribe of thinkers, doers, and dreamers who challenge me to be better every day. Getting to know you, both online and in person, has been the absolute greatest joy of my job. And I’m excited to take you all along for the ride into my next chapter. . What I know now that I didn’t know at 21 is that life is a series of dreams realized. There is no destination, but there will be breakthrough after breakthrough along the way. Our greatest obligation is to keep reaching, to continue growing, to push beyond what seems possible, to live outside the boxes created for us. That is exactly what 2018 is about for me, and for all of us. I’m beyond excited for what the future holds—if 2017 taught us anything, it’s to never underestimate the power of a black woman…✌🏽❤️✊🏽 #TeenVogueForever #ontothenext

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