BlogHer Biz Week One: The Money-Making Advice We’re Still Thinking About
From hilarious moments with professional dope queen Phoebe Robinson to Thinkific’s tactical guidance for building an online course, the first week of BlogHer Biz delivered plenty of invaluable tips and tricks. In the words of SHE Media CEO Samantha Skey, BlogHer is “unabashedly in favor of women making money.” Safe to say, our speakers did an incredible job of demonstrating that commitment by dishing all the game-changing deets that went into their passion projects.
If you’ve got major FOMO (and we wouldn’t blame you), keep scrolling for standout advice and replay the entire conference below!
Oh, and make sure you don’t miss out on the rest of our National Women’s Small Business Month celebration. Week two of BlogHer Biz is all about perfecting your pitch and some of your favorite influencers are on deck to show you how. Register for free here and mark your calendar.
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Mary Lawless Lee’s Hot Tip: Know When to Distinguish Yourself From Your Brand
Mary’s case is unique, but not uncommon, in the blogging and influencing spheres. Happily Grey (the business) was launched partly as a result of Mary’s dedicated following, who originally came to Mary when she was influencing under the same handle. When Mary decided she wanted to launch her business, she knew it was time for a change.
“I wanted to diversify myself from the brand (Happily Grey) and setting more verticals up within that umbrella because I knew we were going to launch many brands within the original business.”
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Birdy Grey Founder Grace Lee’s Advice for Business Strategy
The mastermind behind an online shop devoted to inclusive sizes, styles, and affordable bridesmaids dresses stressed that keeping things clean and uncomplicated is the key to getting the funds you need.
“Keep it super simple. Come up with your business plan. Identify your white space. Start as an LLC. Things will get super complicated as you grow and start to fundraise -and take it from there.”
She also explained that when it comes to funding, revenue data from your first year or so is what will make you stand out against competitors. The numbers will speak for themselves.
“After a year of operating history, I brought on my co-founder (who also happens to be my best friend) and the first order of business was fundraising. It makes it so much easier to set-up those meetings and get connected with the right investors after having a year of sales data to back up your concept. Revenue metrics don’t lie. If you share it and the investor believes in your vision and your idea, it makes it easier for everyone. It opened so many doors for us.”
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Brittany Hennessy on Diversifying Your Revenue Streams
Brittany Hennessy, the woman who literally wrote the book on influencing, served as moderator for our Know Your Worth panel, dedicated to helping attendees understand how to ask for the money they deserve from brand partners.
Brittany stressed that financially successful influencers are the ones who have multiple revenue streams and while that may sound fancy, it’s easier than you think to establish those streams.
“The key to having multiple revenue streams is putting yourself in a lot of places. You can’t get an opportunity if you’re not there.”
Panelist AV Perkins agreed, up to a point, adding, “Think about your goals and align yourself strictly with those goals. If you go for every single brand deal, you might now achieve what specific goals you’re trying to get after.”
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Phoebe Robinson and Tina Wells on Lawyering Up
During their respective panels, both of these powerhouses stressed the importance of making sure you have professional legal and financial advice from the start. While these are expensive expenses, you’ll avoid a lot of wasted funds, legal hardship, and general missteps in the long run. Take it from the pros!
“It’s so important to have a lawyer and an accountant who understand the business that you’re in. (For years) I was mismatched with people who just didn’t understand what I was doing so it’s incredibly important to make sure you’re matched with advisors who really understand your business,” said Wells.
“Get a lawyer; it is money well spent. You need someone that will show up for you without any emotion and will just give you the facts.”
BlogHer Biz is happening all October long in honor of National Women’s Small Business Month. Register for free to attend the remaining sessions, happening October 9, 16, and 23.