According to the 2019 Amex State of Women-Owned Businesses Report, Black women-owned businesses make up 21% of all women-owned businesses, are the largest segment following non-minority owned businesses in the category, and represent the highest rate of growth. Even with these stats, Black women entrepreneurs do not typically earn nearly as much income. This is a reality that one entrepreneurial mastermind is working passionately to change. Coleen Otero, brand curator, author, and founder of CEO Chicks, dedicates her time to helping women entrepreneurs build lucrative, six-figure businesses, one CEO at a time.
She has transformed the lives and brands of several women bosses via her network of more than 1000. For the month of July, Coleen is calling upon her amazing circle of successful women to join her as she helps entrepreneurs’ level up with Fempire weekly masterclasses and giveaways to elevate their businesses. Coleen is also the author of ‘Brand to Bucks’, a book she released in 2018 guiding aspiring entrepreneurs to master, monetize and market their brand, filled with inspiring stories and practical strategies.
As we continue our mission to celebrate and champion Black-owned and operated businesses, especially those founded by Black women, we were excited to learn more about Coleen and what she is doing for her community, given the way COVID-19 is rapidly changing the way we live and work.
Right now CEO Chicks are offering two programs you should know about:
Master Class Monday’s: From July 6-August 3, CEO Chicks will host weekly masterclasses at 12 pm ET on topics such as securing business funding during a pandemic, using tech in Black businesses for scalability, spiritual growth, and more.
Wednesday Giveaways: Each Wednesday, in July, Coleen Otero will be announcing one lucky business owner who will win a prize package inclusive of cash, products, services with an approximate value of $5,000. Winners will be announced via Instagram Live with special guests such as Monique Rodriguez (Mielle Organics), Melissa Mitchell (Abielle Creations), and Sade Akinoso (The Kemist Botique.)
We had the opportunity to speak with Coleen about CEO Chicks, why empowering women in business is important to her, and how the heck she finds the time to be such a badass given she is a mom of 5!
Tell us about your journey into entrepreneurship and what originally sparked your interest?
I’ve been an entrepreneur for as long as I can remember. I started doing hair at 12 and had my cosmetology license coming out of high school. I went straight into business mode as a hair stylist, paying booth rent and doing my own marketing. A lot of my experiences in the beginning of that journey helped shape the work I do today. I knew that entrepreneurs needed mentorship and resources, and eventually found myself in a position to provide that through CEO Chicks.
Why did you want to focus on empowering other black female entrepreneurs in their ideas and journeys?
I realized early in my career that there was a void that needed to be filled to help Black women entrepreneurs like myself be successful. We are one of the fastest growing segments of all women entrepreneurs, yet don’t always see the same financial successes as some of our counterparts. I wanted to be a part of the solution, and I have been blessed to accomplish that and then some with CEO Chicks. This month, I’m hosting giveaways valued at $5,000 for Black women owned businesses. I want to see my fellow sisters in business thrive and dominate in their industries.
Today we are seeing black female founders launching businesses at a high rate, but the funding and support isn’t always there. What do you think needs to change?
I think a lot of it comes down to research and education. There are more resources out there than some people realize. We must do the work and put ourselves in position to receive them. We also need to educate ourselves on the types of funding and other support resources that are available to us. This is another reason why I made sure my giveaways this month are exclusive to Black women-owned businesses. We need all the support we can get!
How can community and mentorship be a powerful step in launching a business idea and for success?
Community and mentorship provide a blueprint and guidance from people who have been where you are and know how to get where you are trying to go. I have an amazing team of successful women coaches who join me to empower and educate passionate women business owners who want to thrive and build lucrative businesses.
Right now, we are seeing a cultural movement to amplify the voices of Black leaders and support Black businesses, in light of national Black Lives Matter marches and conversations. Not to mention the disproportionate impact of COVID-19 on the African American community. How can entrepreneurs like you help the momentum toward positive change?
As Black entrepreneurs, we must do our part in pushing for positive change. We need to hold ourselves and the people around us accountable to ensure that we are always moving in the right direction. We are living in a time where it is more critical than ever that we truly stick together.
Not only are you an entrepreneur but a mother of 5 kids! How do you find time for yourself and to stay sane right now amidst so much uncertainty in the country?
Two words come to mind, MY TRIBE! It truly takes a village. I am blessed to have a supportive family, friends and staff around me. We run a pretty tight ship around here to get things done.
Can you tell us about the Masterclasses you are currently offering through CEO Chicks, and what people can look forward to with these?
We have series of Fempire masterclasses available this month to members and non-members. This is huge because our masterclasses are typically exclusive to members. The masterclasses take place every Monday through August 3. We are covering important topics like securing funding, leadership development, using technology to scale, conquering fear and becoming a household name. Women entrepreneurs who are serious about their business and wish to register for the classes can do so at: https://www.ceochicksonline.com/fempire. This is also where Black women business owners can enter for the weekly giveaways for a chance to win a prize package valued at $5,000.
As a leader and an entrepreneur, what are your recommendations for some brands and leaders we should follow to get inspired and empowered right now?
I love Dr. Myles Munroe, Dr. Matthew Stevenson, The Obama’s, Michelle Flowers-Welch, Valeisha Butterfield-Jones, Angela Rye, Real Talk Kim, and Sarah Jakes.
Finally, what makes you a powerful woman?
What I think makes any woman powerful is the ability to dream it and get up and live it, no matter what! Many can talk a good game, post pretty pictures, stage their lives to look like something it is not, few can walk it out. I go hard for my faith, my family and my finances. Being the architect of my life is what makes me powerful.
Learn more about CEO Chicks, and the Fempire masterclasses and giveaways by clicking here.
