Money Talk.

Elevating Our Businesses to Empower the Future

As women of color, we are the fastest-growing group of entrepreneurs, and we are driving the economy forward with our innovation and resilience. Yet, I know we still face unique challenges, and that’s why it’s so important for us to unite, empower each other, and take control of our financial destinies. We’re not just building businesses; we’re shaping the future.

“Female entrepreneurship is an act of feminism. When women control their wealth, they control their future.” — Vanessa Farino

At Creative CEO, I’ve seen firsthand how powerful it is when women embrace their financial power and use it as a tool for growth. As we look toward 2025, let’s make strategic moves together to ensure our businesses thrive and support the legacies we’re building.

1. Shop Around for the Best High-Yield Savings Account

Your money deserves to work as hard as you do. I want you to take a close look at where your business is keeping its savings. Rates on business savings accounts can vary, with some going up to 5%. Most standard business checking accounts offer rates as low as 0.01% to 0.1%, which does almost nothing for your savings. A high-yield account, on the other hand, helps your reserves grow, setting you up for future investments or unexpected needs.

So, don’t settle for what’s easy or familiar—shop around, compare percentages, and make sure your bank is working for you and your business goals.

2. Build Business Credit and Find a Card That Fits Your Lifestyle

Not all business credit cards are the same, so I recommend finding one that aligns with both your business needs and personal lifestyle. Look for cards that offer points or rewards where you naturally spend the most—maybe that’s travel, marketing, or team expenses. And if you can, aim for a card with 0% APR introductory offers so you can have flexibility without interest adding up too quickly.

Building business credit this way is strategic. It’s not just about rewards today, but about setting yourself up for more favorable financing options in the future. Make sure your card works for you and helps you build the credit foundation your business needs.

3. Invest in the Right Development: Look Beyond Vanity Metrics

When I talk about investing in professional growth—whether it’s conferences, masterminds, memberships, or coaching—here’s my advice: don’t get caught up in the vanity metrics. It’s not about who has the biggest Instagram following or the flashiest marketing; it’s about alignment.

Think of it like dating—you want to invest in communities and mentors that truly resonate with your values and vision. Don’t waste your time or money on influencers who aren’t where you want to be. Instead, look for spaces where real growth happens, where you can build meaningful relationships that move you and your business forward.

4. Stay Persistent: Businesses Take Time to Grow

Here’s a tough truth: many businesses don’t make it past the 3-year mark. Around 20% close in the first year, and nearly 50% by year three. But the key to overcoming those odds? Persistence and patience.

I always tell entrepreneurs to set realistic growth goals. On average, a healthy business grows around 20% year over year. It’s easy to get caught up in wanting overnight success, but long-term sustainability is what matters. Give yourself the time and space to grow intentionally. Every small step forward counts, and steady, realistic progress will ensure your business not only survives but thrives.

5. Build a Conscious Business: Align Financial Growth with Well-Being

We already know what burnout looks like—I’ve been there too. But I truly believe it’s possible to build a successful business without sacrificing our well-being. We, as women entrepreneurs, have the chance to lead by example and show the next generation that financial success doesn’t have to come at the cost of our health or happiness.

By aligning your business with conscious, purpose-driven practices, you can create something that not only hits your financial targets but also supports your life vision. Whether it’s creating a more flexible work environment, prioritizing your mental health, or embracing sustainability in your operations, you can grow a business that feels good to run. Let’s be the women who redefine what success looks like—businesses that thrive without burnout and that pave the way for future generations to do the same.

Final Thought: Take Charge of Your Financial Future

As we move into 2025, I’m encouraging you to take charge of your financial future in a way that honors both your values and your business goals. From finding the right savings accounts and credit cards to investing in communities that align with your vision, every decision you make is a step toward building the business—and life—you want.

Here’s to financial empowerment, growth with intention, and creating a future where wealth and well-being go hand in hand.