Nov 13 2024 43 mins
Podcast Alert! 🎙️
🎧 Tune in episode of the Ellevate Podcast, host Tammy Williams speaks with Suzanne Moriga, CEO of the Moriga Group, about the importance of profitability for minority entrepreneurs. Suzanne shares her personal journey to becoming a financial advisor and author of 'Profit First for Minority Business Enterprises.' The conversation delves into the Profit First system, the challenges minority entrepreneurs face, and the significance of pricing and value in business. Suzanne emphasizes the need for a mindset shift towards intentional profitability and the impact of successful minority businesses on their communities.
KEY TAKEAWAYS
· Profit needs to be intentional for business success.
· Understanding your costs is crucial for pricing.
· Creating multiple bank accounts can enhance profitability.
· Mindset shifts are essential for entrepreneurial success.
· Positioning based on value is more effective than competing on price.
· Minority entrepreneurs often face unique financial challenges.
· Education and training are vital for minority business success.
· Consistency is key to long-term success.
SPECIFIC AREAS
· 06:07 The Profit First System: A Game Changer
· 09:01 Understanding Financial Challenges for Minority Entrepreneurs
· 11:58 Creating Intentional Profitability
· 14:52 The Importance of Pricing and Value
· 26:47 Navigating the Challenges of Government Contracts
Don’t miss this powerful episode that promises to inspire and challenge the way we think about doing business, starting with intentional profitability! Download the Ellevate Network Podcast, "Conversations with Women Changing the Face of Business," from your preferred platform. 🎧listen now and get inspired by these empowering conversations! 🌟
This episode is sponsored by Harvard Business School Executive Education.
Harvard Business School Executive Education programs are designed specifically for executives at critical transition points in their careers.
Producer: Tammy Williams of BGoodPartners