Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Angelica Prather, founder and CEO of Charge Your Worth Academy™, located in Dacula, GA, USA.
What's your business, and who are your customers?
My business is Charge Your Worth Academy™. A virtual educational business institution designed to provide minority business owners financial education, business principles, business structure, tax strategies, and retirement planning.
We offer a tailored coaching learning environment for beauty professionals, beauty-prenuers, and service bases businesses. Our primary mission is to provide minority business owners with the knowledge and tools needed to have a successful business. The goal is to learn everything it takes to run a beauty business instead of it running you.
My customers are minority beauty professionals, what I like to call beauty prenuers (hairstylists, salon owners, make-up artists, etc.) I also have the privilege of supporting other minority consultants and coaches.
Tell us about yourself
Angelica Prather, Income strategist, Business Coach but most of all, I'm a wife and mother of 2 beautiful children. To be honest, my business found me. Charge Your Worth Academy ™ was birthed out of the pandemic.
After talking to so many hairstylists on social media, the common theme of financial hardships licensed cosmetologists faced that have been in the business for years didn't qualify for certain grants, PPP, or unemployment due to their business not being structured correctly. They also made a lot of money before the pandemic but had no reserve, retirement, or basic savings. These beauty professionals dedicated years to the business but lack guidance on how to structure their business and finances as a legitimate small business.
During the pandemic, with all things that I implemented in my own personal salon business for 10 years and as a licensed cosmetologist for 20 years, I started showing & helping other hairstylists with their business structure, pricing structure, restructuring their finances, and connecting them with my networking team of business professionals (accountant, business lawyer, Finacial advisor) that helped me thrive in business. My husband said to me, "You are on to something big because of the results the hairstylists were having."
We decided to hire my own personal business coach. To help me build out the coaching business foundation and curriculum. My coach at the time realized that this was my purpose work, and it chose me. I had received my certification to teach cosmetology back in 2013, but it never occurred to me that I would use my credentials this way.
Enrolling my first student into Charge Your Worth Academy ™ and watching her evolution from a hairstylist to a CEO of her life, business, and doubling her income brought so much joy to me. It became my driving factor because "she expressed that this knowledge changed her life and family life." She could now spend more time with her family and has reserved income to support her future.
What motivates me to keep going is actually my family. My main goal is to leave a legacy for my family. Its work is bigger than just me. Setting the example for my children and showing them your natural gifts, talents, and hardship change your life for the better.
What's your biggest accomplishment as a business owner?
My huge accomplishment is helping my students increase their income by 50%. I don't make an income claim within my business, but most of my students enrolling increase their income by 50-60%. That has been my greatest reward because this changes their family lives and starts the path of building wealth. I also like to add being nominated and selected as a Global Icon of 2021. I didn't start doing this business for the notary; however, just being recognized for the body of work I'm doing was a huge accomplishment.
What's one of the hardest things that come with being a business owner?
What I like to say is the not-so-sexy parts of the business. Managing your time and not becoming a slave to your business. Your business becomes your identity. You have to know when it's time separate from your business. Creating a work-life harmony as a dear friend shared with me.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Before launching any business, have a clear vision of the BIG PICTURE, keeping the end goal in mind. New entrepreneurs often launch without a blueprint. You can't build a house without the blueprint; otherwise, your house will be on a rocky foundation. Treat your business like building a house.
- Build a strong community. I'm a firm believer and say this all the time "Your NETWORK is connected to your NETWORTH." You can't do everything in your business and be everywhere all at once. Building strong relationships can help you grow as a business owner. Your community can be in rooms you aren't in and speak on your behalf. Your community will refer you or point you in the right direction.
- Be patient with the process. Your process is your navigation to success. Those wrong turns and right turn becomes the blueprint for your success. Patience is something we all have a hard time with, especially in times like this. We want overnight success, but there is something amazing that happens in the waiting process of what you define as success.
Is there anything else you'd like to share?
Define your success before launching. There are many shiny objects when operating a business, and it is easy to get caught up in the shiny stuff. To me, a small business that has a clear mission and understands its core values never fails the just PIVOT.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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