This space is for Black women who are:

  • Actively selling coaching, consulting or other professional services, either as a thriving side hustle or a full-time venture.
  • Generating revenue from your offers, but it feels inconsistent, unpredictable, or you're constantly chasing the next sale.
  • Tired of "shooting in the dark" with your offers, lacking a clear, intentional profit strategy to guide your efforts.
  •  Ready to transform your sales activity into a truly sustainable, scalable, and consistently profitable business, generating predictable net income year over year that leads to financial independence.
This blog offers real-world strategy, financial clarity, and mindset shifts to help you create a profit-centered business that honors your skills, sustains your lifestyle, and reflects your values.


revenue

The Business of Confidence: Why Women Need a Seat at the Financial Table

The Business of Confidence: Why Women Need a Seat at the Financial Table

The Business of Confidence: Why Women Need a Seat at the Financial Table

Over the past two decades as an accountant and business consultant, I've worked with many small business owners. A pattern has consistently emerged, especially with the husband and wife teams I’ve served: The businesses are often fueled by the wife's expertise—from running childcare centers and thriving e-commerce health-food catering businesses to multi-unit franchises—yet when it comes to the books, the husband is almost always my primary point of contact.

This wasn’t because the men were necessarily more financially savvy. In fact, they were often paying me to provide the knowledge they lacked. The reason was much simpler, though perhaps more complex: in every instance, the women had no interest in "talking shop" when it came to the high-level financial health of the business. They were in charge of the day-to-day spending decisions, but the strategic financial management was a role they readily delegated, either to their husbands or to me.

I can already hear the pushback, particularly from my Black women readers. "But we manage the household finances!" And you're absolutely right. I’ve seen it firsthand in my social circles; Black women are often the savvy, no-nonsense managers of the family budget. They make sure the bills are paid, the children's needs are met, and the household runs smoothly. But there is a distinct and crucial difference between managing the money coming in and out of a family and steering the financial health of a business. One is about survival and stability; the other is about strategic growth and building wealth.

In my experience, women generally find business finances to be intimidating. Even my female-only clients tend to assign me an "overseer" role rather than partnering with and learning from me. The men, on the other hand, embrace the challenge. They ask questions, study up, and even challenge my knowledge. They find power in their role as the money manager, often speaking with a degree of certainty that's not always supported by their level of understanding. This is a classic case of confidence triumphing over aptitude—a willingness to take on the role despite not having all the answers.

Why is this? Why do so many women, who are the lifeblood of their businesses, shy away from the financial side of things? While the reasons are certainly varied and personal, I believe it has everything to do with social conditioning in a patriarchal society. We've been taught to see finances as a man's domain—a complex, intimidating world to be managed by others. We see it reflected in media, in family dynamics, and in our own subconscious beliefs. And this mindset is limiting. It’s an invisible barrier that prevents women from fully stepping into their power as business owners.

The data supports this need for greater financial engagement, especially for Black women. Black women are leaving the traditional workforce and entering entrepreneurship at higher rates than any other group. For instance, a recent study by Guidant Financial showed that Black women were starting businesses at the fastest rate of any demographic. But as we step out on our own, we also face unique challenges and economic hurdles. Black women-owned businesses, while growing rapidly, still lag significantly in revenue compared to those owned by other groups. To truly thrive and close that gap, we need to harness every advantage we can. And a deep understanding of our own business's finances is one of the most powerful tools in our arsenal.

This is my "why." I've made it my mission to help women break free from this limiting mindset. My goal is to encourage you to take full control of the financial health of your businesses, not just because it’s smart, but because it’s your right. If you're part of a team, I want you to embrace an active role in assessing and managing your finances. You shouldn't just be making the spending decisions—you should be charting the entire financial course. It's time to stop delegating your power away and start owning your numbers, because when you own your finances, you truly own your business.


Tips for Leaning into Your Business Finances

Taking control of your business's financial health can seem daunting, but it doesn't have to be.  Start with the Basics. You don’t need to become a certified public accountant to be adept at managing your business finances. And you don't need to acquire these skills overnight. 

Here are are FIVE (5) actionable tips to help you get started:

  • Understand your key financial statements: the Profit & Loss (P&L) and the Balance Sheet. Think of these documents as the vital signs of your business. The P&L tells you if you're profitable, and the Balance Sheet gives you a snapshot of your company’s financial health at a specific moment in time. Get to know them like the back of your hand.
  • Schedule a "Money Date": Set aside dedicated time each week or month to review your financials. Treat it like an important business meeting with yourself or your partner. Use this time to look at your revenue, expenses, and cash flow. Compare this month’s numbers to last month’s and identify any trends or red flags. This regular practice will build your confidence and make the numbers feel less intimidating.
  • Ask Questions, Even the "Dumb" Ones: Don't be afraid to ask your accountant, bookkeeper, or financial advisor to explain things in a way you can understand. Remember, you're paying for their expertise, and they should be your partner in this process. A good professional will be happy to teach you because your engagement shows you care about the business's success. Asking questions is a sign of ownership, not weakness.
  • Embrace Business Financial Literacy: There are countless free resources available, from online courses and webinars to blog posts and podcasts. Dedicate time to learning about topics like pricing strategy, cash flow management, and profit margins. Understanding your break-even point—the amount of revenue you need to cover all your costs—is one of the most powerful insights you can gain. Knowledge is power, especially when it comes to your money.
  • Focus on Profitability, Not Just Revenue: High revenue is great, but profit is what keeps your business alive. As the saying goes, "Revenue is vanity, profit is sanity." Shift your mindset from just making sales to ensuring that every single sale is profitable. Understand your costs and find ways to optimize your spending without sacrificing quality. This is the key to building a sustainable and resilient business.
By taking these small, consistent steps, you can start to demystify your finances and build the confidence needed to take a powerful, active role in the financial success of your business. When you understand your numbers, you can make smarter decisions and build the kind of legacy you deserve.
Want to stop guessing and start building a business with clear and realistic revenue targets? Download my FREE Revenue Roadmap™ Guidebook and Bonus Video Walkthrough. This 5-step framework will help you calculate your business's true earning potential so you can build a strategy that's based on time, capacity, and real numbers.

Understanding Your Money Ecosystem: The Five Key Components of a Healthy Business

Understanding Your Money Ecosystem: The Five Key Components of a Healthy Business

Understanding Your Money Ecosystem: The Five Key Components of a Healthy Business

As a woman entrepreneur in the service-based industry, you’re not just providing a valuable service—you're building a business. And at the heart of any thriving business is a healthy relationship with its finances. Instead of thinking of your money as a collection of separate numbers, it can be incredibly empowering to view it as an interconnected money ecosystem. When all the components are working in harmony, your business can flourish, grow, and provide you with the financial freedom you deserve.

For many entrepreneurs, the financial side of the business can feel like a foreign language. But imagine your business's finances as a garden. You can’t just focus on planting seeds (revenue) and hope for the best. You also have to manage the soil (expenses), protect the young plants (assets), and keep pests away (liabilities). The result is a vibrant, thriving garden (profit) that provides for you long into the future. That’s the holistic perspective this ecosystem model provides.

Let's break down the five key components of this ecosystem and how they all work together.

1. Revenue: The Lifeblood of Your Business

What it is: Revenue is the total income your business generates from selling your services before any expenses are deducted. It’s the cash flowing into your business from your clients.

How it works: Think of revenue as the sun in your ecosystem. It's the primary energy source that fuels everything else. For a service-based business, revenue often comes from client contracts, project fees, monthly retainers, or hourly rates. It's not just about how much you make, but also the stability of your income streams. Diversifying your revenue through various services, packages, or pricing models can help you create a more resilient and predictable cash flow.

Example: Michelle is a freelance graphic designer. In one month, she completes a logo design project for $1,500, a website design for $3,000, and has two clients on a monthly retainer for $500 each. Her total revenue for the month is $1,500 + $3,000 + ($500 * 2) = $5,500.

2. Expenses: The Cost of Doing Business

What they are: Expenses are all the costs you incur to run your business. These are the payments you make to keep the ecosystem running.

How they work: Expenses are like the water and nutrients in your ecosystem. They are necessary for growth, but you must manage them carefully to prevent them from becoming a drain. They can be fixed (rent, software subscriptions) or variable (marketing costs, project-specific materials). A crucial part of a healthy ecosystem is understanding the difference between these costs. Fixed expenses are predictable, while variable expenses often present opportunities to adjust and optimize for better profit margins.

Example: Continuing with Michelle, her monthly expenses include:

  • Fixed: Website hosting ($30), Adobe Creative Cloud subscription ($55), business insurance ($50).
  • Variable: A one-time stock photo purchase for a client project ($100), and a new font license ($40).
    Her total monthly expenses are $30 + $55 + $50 + $100 + $40 = $275.

3. Profit: The Reward for Your Hard Work

What it is: Profit is what's left after all your expenses have been subtracted from your revenue. This is the ultimate measure of your business's financial health.

How it works: Profit is the growth and fruit of your ecosystem. It's the reward for successfully managing your revenue and expenses. It's the money you can reinvest in your business, pay yourself, or save for future stability and growth. Thinking about profit strategically means deciding where that money goes—whether it's paying yourself a consistent salary, building a cash buffer for slow months, or investing in a new course to grow your skills. This intentional approach ensures your hard work leads to tangible financial freedom.

Example: Using Michelle’s numbers:

  • Revenue: $5,500
  • Expenses: $275
  • Profit: $5,500 - $275 = $5,225
    This $5,225 is her profit. From this, she can pay herself, set aside money for taxes, and save for a new computer or a marketing campaign.

4. Assets: The Building Blocks of Your Wealth

What they are: Assets are anything of value that your business owns. They are resources you can use to generate revenue.

How they works: Assets are the sturdy trees and fertile soil of your ecosystem—they build long-term value. For a service-based business, assets might not be physical inventory. They could be intellectual property, like a developed course or a client list, or physical items like your laptop, camera, or office furniture. Your strong reputation and established systems are also powerful, intangible assets. Cultivating these assets is key to scaling, as they allow you to work smarter, not just harder.

Example: Michelle’s assets include her high-powered laptop, her professional camera, the custom-designed templates she sells, and the $5,225 in her business checking account (her profit from the month).

5. Liabilities: The Financial Obligations

What they are: Liabilities are the financial obligations or debts your business owes to others.

How they works: Liabilities are like the necessary maintenance in your ecosystem. They are debts that need to be paid off to keep the system healthy. This could include business loans, outstanding invoices you need to pay, or credit card debt. A healthy ecosystem manages its liabilities so they don't overshadow its assets. Not all debt is bad; a strategic loan for a new piece of equipment can be a great asset. The key is to understand the purpose of your liabilities and have a clear plan for paying them down.

Example: Michelle took out a small business loan to purchase her laptop. She has a monthly loan payment of $150. This loan is a liability. She also has a small balance on her business credit card for an emergency purchase.


The Ecosystem in Action: Cultivating Your Financial Health

Understanding these five components is the first step. The next is to actively cultivate your own money ecosystem. Start by taking regular snapshots of your finances—for example, at the end of each month. This isn't just about tracking numbers; it's about creating a pause point to assess your progress.

This is where you can compare your actual results to the financial goals you've set for your business. Let's say you projected a specific profit for the first six months. By taking that snapshot, you can see exactly where you stand. If your profit for month six is less than projected, this pause point is your opportunity to analyze why. Was a marketing campaign less effective? Did a key client project get delayed? This insight empowers you to adjust your strategy for the next period, ensuring your business development and marketing efforts are aligned with your financial goals. By doing this consistently, you're not just running a business; you're actively steering it toward the success you envisioned. Take one small step today to get to know your money ecosystem better, and watch your business thrive
Want to stop guessing and start building a business with clear and realistic revenue targets? Download my FREE Revenue Roadmap™ Guidebook and Bonus Video Walkthrough. This 5-step framework will help you calculate your business's true earning potential so you can build a strategy that's based on time, capacity, and real numbers.


Hey, I'm Angeline!

I’ve been a full-time entrepreneur for over 20 years, combining my background in accounting and business consulting to help Black women turn business plans into profits.

Through A. Smith Strategies, I coach service-based entrepreneurs who are ready to stop overworking and start building businesses that are viable, profitable, and built to last. This isn’t about hustle—it’s about strategy, clarity, and ownership.

I created this work for Black women because I’ve lived the struggle of being undervalued in systems that were never built with us in mind. My mission is to help you build income that reflects your expertise, supports your lifestyle, and honors your values.

When I’m not working, I’m home with Larry (a retired greyhound who lives for naps) and Sasha (a tortoiseshell cat with opinions). I love strong coffee, quiet mornings, and work that feels like purpose.

If you’re ready to build something that truly works—for you—I’d love to connect.





Photo of Angeline Smith