Your Money & Business
Sage Advice for Women Business Leaders from Someone Who’s Been There
Q&A with Denise B. Lawrence, Business Coach and Strategist
February 2023
Photo Courtesy: Denise B. Lawrence
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"Understanding that failure is part of the process for success can give women a renewed perspective to stay motivated and encouraged by the challenges that come." ~ Denise B. Lawrence |
Denise discusses the challenges women business leaders and entrepreneurs face, offering advice for both newbies and veterans.
In your experience as a business consultant and strategist, what have you found are the most common challenges for women entrepreneurs and executives?
I find that failure is often a challenge for women. Understanding that failure is part of the process for success can give women a renewed perspective to stay motivated and encouraged by the challenges that come.
In general, what do women leaders bring to the table in terms of management style as compared to many of their male counterparts?
For the most part, we bring compassion to the table. However, this can easily be buried by years of hurt when the marketplace sees this as a weakness. Openly showing that we care about the people we work with and work for should be a positive influence in how we manage.
What is the most common complaint women executives have when it comes to office culture?
Perhaps, it’s the lack of culture or the leadership’s lack of recognition that defining culture is necessary. As I start to grow my team, I have discovered that this was a misstep in my own vision for my company. Thankfully, my HR consultant brought it to my attention, and we are including verbiage, followed by specific actions, to make sure the company culture is clear and articulated, even in a fully remote environment.
How important is it for women to be mentored by another woman in her industry?
It is a requirement for sustainable success. A coaching client once told me that she could not hire a coach who wasn’t a millionaire because she needed someone to guide her through something that was already accomplished. Mentors, whether a formal coach or an informal advisor, become examples of what to expect and how to be best equipped on our paths.
For women who are in the early planning stages of starting a business, name one or two things they should look out for.
Find multiple streams of income in whatever business you are starting. If the only stream of income in a real estate business is rental income, then when the economy tanks, your business will tank. Always look at your transferrable skills that can complement the existing business, such as courses, coaching, and contract writing and processing.
Second, create cash-flow projections and update every 90 days so you always have clarity on what needs to come in and where it is coming from.
Have you found that women entrepreneurs and executives struggle with self-care? If so, what do you tell them?
Yes, this continues to be a struggle for us. For me it is biblical. Proverbs 31 firmly suggests that women are wired for managing multiple things at once. However, it tells us in verse 25 that “Strength and dignity are her clothing, and she laughs at the time to come.” From this, I have learned that we must rest, and we must ensure that we have cared for ourselves to be truly effective at taking care of others. Being tired, stressed and overwhelmed does not equal strong, capable, and being called blessed.
Tip: I put naps on my schedule a couple of times a week, and for the past 18 months – even with five businesses – I do not work on weekends.
As we celebrate Black History Month, let's give a shout-out to a female, Black executive or community leader whom you’ve found particularly inspirational.
I nominate Ms. Sateria Venable, founder and CEO of The Fibroid Foundation. She is celebrating ten years of advocacy and education for the 26 million women in the U.S. alone who suffer from fibroids. Her work is now in 135 countries, and she remains the calmest, most humble, and most motivating Black woman I know.
Where do you find sanctuary?
I escape into consignment shops – not always to buy. I just love old and repurposed things, and I meet the coolest people there. Lastly, I get my mojo back from praise and worship every Sunday. It refuels me to face every weekly challenge.
I find that failure is often a challenge for women. Understanding that failure is part of the process for success can give women a renewed perspective to stay motivated and encouraged by the challenges that come.
In general, what do women leaders bring to the table in terms of management style as compared to many of their male counterparts?
For the most part, we bring compassion to the table. However, this can easily be buried by years of hurt when the marketplace sees this as a weakness. Openly showing that we care about the people we work with and work for should be a positive influence in how we manage.
What is the most common complaint women executives have when it comes to office culture?
Perhaps, it’s the lack of culture or the leadership’s lack of recognition that defining culture is necessary. As I start to grow my team, I have discovered that this was a misstep in my own vision for my company. Thankfully, my HR consultant brought it to my attention, and we are including verbiage, followed by specific actions, to make sure the company culture is clear and articulated, even in a fully remote environment.
How important is it for women to be mentored by another woman in her industry?
It is a requirement for sustainable success. A coaching client once told me that she could not hire a coach who wasn’t a millionaire because she needed someone to guide her through something that was already accomplished. Mentors, whether a formal coach or an informal advisor, become examples of what to expect and how to be best equipped on our paths.
For women who are in the early planning stages of starting a business, name one or two things they should look out for.
Find multiple streams of income in whatever business you are starting. If the only stream of income in a real estate business is rental income, then when the economy tanks, your business will tank. Always look at your transferrable skills that can complement the existing business, such as courses, coaching, and contract writing and processing.
Second, create cash-flow projections and update every 90 days so you always have clarity on what needs to come in and where it is coming from.
Have you found that women entrepreneurs and executives struggle with self-care? If so, what do you tell them?
Yes, this continues to be a struggle for us. For me it is biblical. Proverbs 31 firmly suggests that women are wired for managing multiple things at once. However, it tells us in verse 25 that “Strength and dignity are her clothing, and she laughs at the time to come.” From this, I have learned that we must rest, and we must ensure that we have cared for ourselves to be truly effective at taking care of others. Being tired, stressed and overwhelmed does not equal strong, capable, and being called blessed.
Tip: I put naps on my schedule a couple of times a week, and for the past 18 months – even with five businesses – I do not work on weekends.
As we celebrate Black History Month, let's give a shout-out to a female, Black executive or community leader whom you’ve found particularly inspirational.
I nominate Ms. Sateria Venable, founder and CEO of The Fibroid Foundation. She is celebrating ten years of advocacy and education for the 26 million women in the U.S. alone who suffer from fibroids. Her work is now in 135 countries, and she remains the calmest, most humble, and most motivating Black woman I know.
Where do you find sanctuary?
I escape into consignment shops – not always to buy. I just love old and repurposed things, and I meet the coolest people there. Lastly, I get my mojo back from praise and worship every Sunday. It refuels me to face every weekly challenge.
Denise B. Lawrence spent the first 15 years of her career as a newspaper journalist covering cities across the nation, the White House and Congress before deciding to expand her nonprofit consulting practice from part-time to full-time. She now owns five businesses, including the first single-parent, online dating community.
Today, she is committed to using her platform as a member of the 4% of Black business owners who are employers, to disrupt the equity gap for small Black-owned business solopreneurs. Her experience over the past 37 years fuels her work in helping business founders effectively and strategically advance their business landscape to enterprise levels.
Denise advises and coaches Black business founders – serving as a sounding board, accountability partner, and strategist through Denise B. Lawrence and Associates, LLC. She has led over 300 mastermind groups and verticals to over 1,400 business owners.
While she is industry agnostic, Denise has most recently provided strategic business consulting and coaching in manufacturing and supply chain logistics, technology, online product development and retail, architecture and construction, entertainment, human resource management, healthcare, publishing, management consulting, mergers and acquisitions, and commercial real estate.
Denise is startup obsessed and recently launched the first global nonprofit consulting franchise operation model, an education academy, and serves in an advisory capacity for an online apparel company, a health research organization, and a textile company.
Denise has a bachelor’s degree in journalism from Florida A&M University and a Master of Divinity from Liberty University. She is a servant leader as a pastor, county police chaplain, and global ministry leader with a focus on projects in the U.S., Haiti, Nigeria and Rwanda.
Today, she is committed to using her platform as a member of the 4% of Black business owners who are employers, to disrupt the equity gap for small Black-owned business solopreneurs. Her experience over the past 37 years fuels her work in helping business founders effectively and strategically advance their business landscape to enterprise levels.
Denise advises and coaches Black business founders – serving as a sounding board, accountability partner, and strategist through Denise B. Lawrence and Associates, LLC. She has led over 300 mastermind groups and verticals to over 1,400 business owners.
While she is industry agnostic, Denise has most recently provided strategic business consulting and coaching in manufacturing and supply chain logistics, technology, online product development and retail, architecture and construction, entertainment, human resource management, healthcare, publishing, management consulting, mergers and acquisitions, and commercial real estate.
Denise is startup obsessed and recently launched the first global nonprofit consulting franchise operation model, an education academy, and serves in an advisory capacity for an online apparel company, a health research organization, and a textile company.
Denise has a bachelor’s degree in journalism from Florida A&M University and a Master of Divinity from Liberty University. She is a servant leader as a pastor, county police chaplain, and global ministry leader with a focus on projects in the U.S., Haiti, Nigeria and Rwanda.
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