Money Talksis an xoNecole series where we talk candidly to real women about how they spend money, their relationship with money, and how they get it.
As we are out here getting to these coins, I want to ask you all something really quick. If you could write down the first idea that pops into your head, how much is it worth to you? And I am not talking about how much money you THINK people would pay for your idea. But how much money do you honestly believe your idea is worth right now? I ask this because a lot of times, as creatives, when we are coming up with ideas, we struggle with being confident in knowing how valuable they are. Now, no idea is too big or too small. But, with so many possibilities in the world with how you make a statement, it can get a little cloudy with believing that your idea can stand out among the rest.
I believe the trick is to not focus on how much faith you have in other people to buy in, but to focus on having faith in yourself. Do you believe in yourself? Do you believe your idea is valuable because you are valuable? You should always be confident in your capabilities first to really push forward your ideas/dreams. Your ideas are an extension of you, so they will always be pretty expensive. It doesn't matter how you came up with the idea or if you feel it has been done before. When you take a chance on your idea and stay determined to see it through, you are taking a chance on yourself. Every time.
This mindset is something I learned from six-figure entrepreneur Afenya Montgomery. Last year in 2020, I was able to attend an event at a coworking space where I connected with other women who were pursuing different businesses in different industries. It was so amazing listening to all their stories, especially the host, Afenya Montgomery. When we met, I knew we would stay in touch instantly. Now one year later, Afenya reminded me of how important investing in yourself is when it comes to entrepreneurship.
"I'm the kind of investor where I invest in myself and my ideas to watch them grow and flourish. I had this idea and I had to see it through. Nobody wants to look back years later and think, 'I should have done this or that.' I felt like if I was going to bet on anything, I was going to bet on myself. Always remember, when you are putting real money behind an idea, don't be in the talking stage or dating the idea. You have to be married to it."
Courtesy of Afenya Montgomery
Afenya Montgomery, born and raised on the south side of Chicago, started her professional career in the nursing field. Afenya was able to obtain her Master of Nursing degree and an MBA with a focus in executive leadership. In the year of 2017, Afenya felt that it was time for her to pivot. During that time, she started meeting up with her friends at local coffee shops and noticed that there was a lack of resources for people of color in entrepreneurship. That is all it took for Afenya to come up with an idea to help change that problem. Afenya mentions, "The idea began to form that it would be great to create a network of people that could act as accountability partners, potential business collaborators and resources for each other. Our first event was a panel discussion in June 2017 titled, 'Leveraging Your Network to Create Impact,' and we haven't looked back since."
Afenya is now the founder of The iCAN Collective. The iCAN Collective was founded on the pillars of Innovation, Collaboration, Accountability and Network. The iCAN Collective strives to give women a space to build a foundation of collaboration, authentic connections, and support as they blaze new trails on the path of entrepreneurship or in their careers. This company is a collaborative coworking space for women of color entrepreneurs, creatives, and game-changers, where it offers memberships, exclusive events, networking opportunities, and brand packages. Afenya wants to be a resource for creative entrepreneurs and celebrate them for going after their dreams.
When you chase your dreams and execute them no matter what, nobody can tell you nothing.
In this installment of "Money Talks", xoNecole spoke with Afenya Montgomery about how trusting your gut, being strategic, and building your business at your own pace are the keys to creating financial freedom.
xoNecole: How much money do you make in a year? A month?
Afenya: I usually make mid-six figures with my company in a year. My revenue breaks down to making around $15-20K a month.
What do you define as “wealth” vs “success”?
Success for me means you are setting goals for yourself and getting them accomplished. You create these milestones for yourself and they can be small or big. Either way, you are getting them done. As far as wealth, wealth to me is being able to have certain things you want in your life, but more importantly, leaving something behind for your children and building that legacy.
What’s the lowest you’ve ever felt when it comes to your finances?
The lowest point for me was back before I was in nursing school. It was during the Great Recession and I got laid off. At the time, I was a newlywed, I had just bought a house, and I was about to have a baby. So that was when I started to look at money differently. I realized you can't only depend on a job. You need other ways in order to sustain money. I didn't think about entrepreneurship at that time honestly, so what I did was, I started a blog about my journey. Then, I looked at what I was passionate about, what careers aligned with that, and thought about how I can have more control over my money.
How important is investing to you?
I have always been interested in investing and how I can save money better. Even before my company, I would open money marketing accounts and make sure I was smart about utilizing what I had for the things I needed at the time. When it comes to investing, I think it is really important to know which type of investments are right for you. Because let's be real, it is not easy investing thousands of dollars or 500 dollars into something that you want([laughs). I'm the kind of investor where I invest in myself and my ideas to watch them grow and flourish. But it is important to have a diverse portfolio and that you are married to this investment/idea.
When it comes to structuring your business, what are your streams of revenue and how did you go about establishing them?
Prior to having a physical space, The iCAN Collective was about creating workshops and networking events/opportunities for women of color interested in entrepreneurship. I found myself having these events in different spaces and figured why not create a space that was permanent. From there, I wanted to provide different things that a lot of spaces do not offer. So with this space, we provide membership, a coworking atmosphere, host events or intimate gatherings, and we offer brand packages. It's important to have something that is unique and stands out from the rest.
What are some unhealthy habits about money or some unhealthy mindsets about money that you had to let go of to truly prosper?
The first thing I had to change was this mindset about money as if it will never come. My brother would tell me these affirmations stating, "Money is always free-flowing. I am abundant. Money will come my way, etc." Affirming to myself that money is always around me shifted my scarcity mindset. I think a lot of us think about money with this mindset and we cannot continue thinking, 'If I spend this amount or I go after this goal, I will never have money again.'
"Affirming to myself that money is always around me shifted my scarcity mindset. I think a lot of us think about money with this mindset and we cannot continue thinking, 'If I spend this amount or I go after this goal, I will never have money again.'"
Courtesy of Afenya Montgomery
What keeps you motivated?
If you are passionate about something, then build the strategy behind what you want to do. I have heard people say that when it comes to business, do not go after your passion. But why passion is important to me is because that is honestly what keeps me going. If I don't have any interest or drive to be in that space, then I can't innovate in that space. Entrepreneurship is not one of those things where you're going to get a check just for showing up. You have to be really good at what you do and also have passion for it to see it flourish.
What is the most important lesson you’ve learned through being a businessowner?
It is important to be flexible and roll with the punches when you're an entrepreneur. But more importantly, my main lesson has been trusting your gut and trusting God. If God gave you an idea/mission, it is already protected by Him. I always tell people that I never wanted to be an entrepreneur. It was more of a God-given assignment and I have faith in what I am creating to be aligned with my purpose.
What was it like learning to expand your business from one city to multiple cities?
We are looking to expand The iCAN Collective to New York, which is funny because I actually wanted to move to New York when I was 18 years old (laughs). I am so in love with the vibe of New York and I also have family who live there. What I learned about creating a space in a new city is to always poll your people. It is really important to build relationships with the people in the community. I try to look at it through the lens of what I can I bring to this space to support the community the best way I can? I ask myself, what is the main need and what can I provide?
Was it easy to become a well-respected businesswoman in your respective industry or did it take time?
In the beginning, I was letting people know 'ya'll better put some respect on my name' (laughs). The thing about Chicago is that we are known to be a little cliquish. So it is not that I didn't know people in the industry, they just didn't know me. I won't lie, navigating through the industry was hard. I would go to a bunch of events, hand out my business cards, and network, network, network. But as time goes on, you realize that it is not about everyone knowing who you are, it is about the right people knowing who you are. You want to know the people who can speak your name in rooms that matter.
"As time goes on, you realize that it is not about everyone knowing who you are, it is about the right people knowing who you are. You want to know the people who can speak your name in rooms that matter."
Courtesy of Afenya Montgomery
What’s the best advice that you’ve received about finance during your first year of entrepreneurship?
The best advice I think that helped me during my first year is to build slowly. There is this misconception where you see people starting their businesses and everything is happening so fast, so you feel you have to catch up in a sense. But you really have to look at your strategy for your business, intentionally, in order to scale. Another really good piece of advice I received is that, a lot of people talk about an individual having multiple streams of income. But I don't think we talk enough about businesses having multiple streams of income. I have learned that it really helps to diversify what you provide in your business. If you are trying to be a million-dollar business, make sure that every move you make feeds that desire.
To learn more about Afenya, you can follow her on instagram @afenyabsn. You can also check out her business website here.
Featured image courtesy of Afenya Montgomery
RELATED
As I quickly ran down my “Christmas list” of desires, as I came towards the end and then looked him in the eyes (because we were walking), he calmly and simply said, “I can be that.” Chile…CHILE. It took me close to a year of discovering so many cryptic things about him for me to realize that there is a really big difference between what someone “can be” vs. who they actually are — and that oversharing can set you up for dating a character more than a genuine individual. Lesson learned. Lesson freakin’ learned.
I can’t lie, though — when I recently read about a current dating trend known as “floodlighting,” from my own personal experience, that’s probably the closest that I’ve ever come to it. I think it’s because, since I’m so open with damn near everyone and also, since my past pattern has mostly consisted of taking friendships into something more (as opposed to dating people who I barely know), I’ve never really taken the classic floodlighting approach to try and connect with someone else.
I do have clients who have, though — and the trend is concerning enough that I definitely thought that it was worth writing about; mostly as a PSA to not floodlight and also to be cautious if you sense that someone is currently in the process of trying to floodlight you.
And just what do I mean when I say that? Read on, sis. Read on.
Floodlighting. According to Author Brené Brown.
GiphyBest-selling author, podcaster, and professor Brené Brown is a pretty popular person. Since quotes are my thing, that’s probably how I “connect” with her most because I like things that she has been credited for saying like “Maybe stories are just data with a soul,” “The dark does not destroy the light; it defines it” and “Shame corrodes the very part of us that believes we are capable of change.”
And since self-reflection is such a big part of her platform, it didn’t really surprise me when I found out that she is actually credited for coming up with the term “floodlighting.” It would seem that in her audiobook, The Power of Vulnerability: Teachings of Authenticity, Connections, and Courage, she stated this:
“Oversharing? Not vulnerability; I call it floodlighting. ... A lot of times we share too much information as a way to protect us from vulnerability, and here's why.
I'm scared to let you know that I just wrote this article and I'm under total fire for it and people are making fun of me and I'm feeling hurt — the same thing that I told someone in an intimate conversation. So what I do is I floodlight you with it — I don't know you very well or I'm in front of a big group, or it's a story that I haven't processed enough to be sharing with other people — and you immediately respond ‘hands up; push me away’ and I go, ‘See? No one cares about me. No one gives a s*** that I'm hurting. I knew it.'
It's how we protect ourselves from vulnerability. We just engage in a behavior that confirms our fear.”
If that was a bit challenging to follow, what Brené is basically saying is…well, you know how sometimes you will watch a post on social media by someone you don’t know, your first reaction is something like “Ugh. TMI.” and then you may actually say some form of that in their comment section? If others join in with your sentiment, the poster may follow up with a second video about that being why they don’t share their lives — it’s because people only take shots at them for doing so. Yeah, social media? Oh, there is PLENTY of floodlighting that goes on up in there, chile.
Okay, but what would be the strategy for floodlighting if it proves to be such a risky approach to connecting with other people? According to Brené, by sharing too much information about ourselves only to then receive some level of rejection for it — it’s kind of a “hurt you before you hurt me” kind of thing.
Meaning, “I’m not the best at cultivating intimacy and so, if I overshare and you pull back, I can make you be the ‘bad guy’ for rejecting me which makes all of this a test that you failed instead of my choosing to create an authentic connection and owning my part if things don’t end up working out.”
And yes, many people do this because, at the end of the day, they aren’t very comfortable with genuine intimacy. They also do it because they don’t really get that, when it comes to intimacy, another word should be the goal instead of vulnerability anyway.
I’ll explain.
It’s Important to Remember What Vulnerability Means
GiphyAsk pretty much any of my clients about what I think about the word “vulnerable” when it comes to marriage and they’ll tell you that I am not a fan. That’s because I lean into being pretty word-literal (as far as original definitions go) and I am aware that vulnerable means things like “capable of or susceptible to being attacked, damaged, or hurt,” “open to moral attack, criticism, temptation, etc.”
And y’all, for the life of me, I don’t know why anyone would choose to vow to spend their lives with an individual who they would need to be vulnerable with because, if your partner is susceptible to damaging you or they leave you open to attack or temptation — does that sound healthy to you? Yeah, me neither.
So, what word do I prefer then? Dependent. And what’s so wild to me is the fact that our culture is so used to the word “vulnerable” that many, even when it comes to their close connections, are far more uncomfortable with the word “dependent” — and boy, ain’t that a damn shame. Dependent is all that I want to be with my intimate dynamics because that’s all about “relying on someone or something else for aid, support, etc.” — and that is what you should do with your closest friends and definitely who you are in a romantic relationship with.
In fact, if the relationship is solid, it should be interdependent: “mutually dependent; depending on each other.” However, the thing to keep in mind with getting to the point where you can rely on someone is it takes time. While vulnerability, on some levels, can be rushed and semi-forced, dependency is an organic experience that occurs from life simply…happening.
Now keep all of this in mind as we explore how floodlighting reveals itself in a dating situation.
Floodlighting. When It Comes to Dating.
GiphyOnce I processed floodlighting, as far as dating is concerned, it actually made me think of people who have sex very quickly in the beginning of a relationship. I’m pretty sure that at least 70 percent of us know of someone who has raved about a person who they’ve only gone out on a couple of dates with. However, because they’ve already had sex with them and it was really good, suddenly, they believe that they’ve met the one.
Y’all, it truly can’t be said enough that “an oxytocin high” does not true intimacy make — oh, but because it feels amazing, it can have you out here thinking that something lasting and real has transpired when really, there hasn’t been enough moments shared or experiences had to know that for sure. However, since the sex was rushed, it can cause you to want to speed up the relationship too. It can tempt you to be like, “I mean, if we’re great in bed, surely we will be amazing in other rooms of the house too.” Floodlighting is a lot like this.
If you meet someone and you like the potential of what it could be, you might be tempted to want to, like Brené said in her book: OVERSHARE. It could be oversharing as it relates to some personal traumas that you’ve experienced. It could be oversharing as it relates to intimate details about your past relationships. It could be oversharing as it relates to your mistakes and flaws. It could be oversharing as it relates to your sex life. It could be oversharing as it relates to all of the expectations and demands (along with why) that you have.
The reason for doing this? It could be that you’re hoping the person will take it all in without any pushback which will cause you to believe that you both are immediately on the same page or it could be that you are attempting to fast-track the relationship by believing that if you share all of who you are during date one or two (or even four), they will do the same and — ding — an instant relationship.
See, more than anything else, floodlighting is a test. It’s a bit manipulative. It’s potentially stressful. And, more times than not, it ends up backfiring. And then, if it backfires, because it was a test, you can blame them for not rising up to the occasion.
Please tell me that you get how toxic this all is. For one thing, no one wants to be tested like this. Secondly, it’s unfair to expect someone to be “all in” with a person who they are just getting to know. Third, you have layers to you — all of us do — and it can be overwhelming for someone to be expected to learn, retain, and even accept all of the layers at once. Yeah, one thing that I like about the term floodlighting is it has the word “flood” in it. Water? We’re made up of mostly water, so of course, it’s good for us. Being flooded by water, though? That could harm or even destroy us.
In many ways, trying to force intimacy onto another person…it manifests in a similar way. Of course, you should share what makes you…you. A bit at a time, though, while letting time do its thing. Too much too soon is…exactly that.
How to Cultivate Healthy Intimacy in the Beginning Stages of a Relationship
GiphySo, what are some things that you can do to avoid being a floodlighter?
See your intel as privileged information.
Everything about you is special and special things should be earned. That said, as you get to know someone, OVER TIME, you’ll be able to see if they can be trusted with your thoughts, feelings and ultimately your heart — and no, that can’t happen on the first couple of dates. Y’all, it really can’t be said enough that instant chemistry doesn’t mean that intimacy should be expected to happen overnight.
In other words, just because you see the potential for something awesome with another person, that doesn’t mean you shouldn’t wait to see if the individual’s words and actions, consistently so, can complement the elation that you feel. Share a little. See how they respond. At another time, share a little bit more. See how they react. Rinse and repeat. Patiently and intentionally so.
Stop trying to pull stuff out of people.
There are all kinds of ways to be manipulating and controlling — and deciding that someone should move at your pace in a relationship is a way to be both things. In other words, not everyone is emotionally unavailable or immature simply because they don’t want to share every childhood experience or their relationship stories with you by date three.
No doubt, a lot of people self-sabotage something that could’ve been good because they were rushing someone to move outside of their comfort zone — knowing damn well that they would’ve had a problem with that if the shoe was on the other foot. Chill…what someone wants to tell you, they will. If they don’t? All you can — and should — do is decide if you want to move forward or not. That doesn’t require force on your part to come to that conclusion.
Nervousness is one thing. Being fearful is something else.
If the reason why you’re floodlighting is because you’re scared that people will not accept you or that they will abandon you, it really is best to put dating aside for a season and get into some therapy. Because, while being nervous about a potentially new relationship is completely understandable, being afraid of organic intimacy and then doing things that can hinder or prevent it is something completely different.
Put the tests away.
Listen, if you recall the tests that you took back in school, I have no clue why you’d want to put others through tests now that you’re a big-time adult. Tests are stressful, pressuring and sometimes, no matter how smart you are, you’re not going to perform well on them because you’re simply not a good test-taker (some of y’all will catch that later). There’s no need to “test” someone to see if they can take all of who you are. Again, time will reveal that on its own.
___
Personally, I think that floodlighting is so common that folks don’t even realize that they’re doing it or how problematic it actually is. Hopefully, this helps to shed some light.
Vulnerability tests? Uh-uh.
Seeing if someone can be depended on to care for you as you are? Relax. Time. Will. Reveal.
Now go on your date(s) and have fun. Damn. #winkLet’s make things inbox official! Sign up for the xoNecole newsletter for love, wellness, career, and exclusive content delivered straight to your inbox.
Featured image by zamrznutitonovi/Getty Images