Writing a Business Model? Here Are Pro Tips on Knowing Your Worth

Theresa Gonzalez
Oct 23, 2020
Brit Morin

Selfmade, Brit + Co's interactive business course, takes you from business idea to business launch in just 10 weeks with the help of career coaches, successful entrepreneurs, and 1:1 sessions with our very own CEO Brit Morin and Chief Creative Officer Anjelika Temple. Curious about what we learned this week? In collaboration with Office Depot, we're sharing snippets from each week with all y'all. Get ready to get a sneak peek about all things business models and metrics.

Pricing is branding. "Branding is a mindset and your mindset, not the market, determines how much money you make or don't make," says Brit. That means don't underestimate your value: consider how much time you put into your work, the quality of it, your office expenses, all the hard costs and then a good rule of thumb is to double that number to come up with the price of your product or service.

Don't play it safe. "There's this myth that to do something you love means to financially struggle and that's insane," says Anjelika. Creative entrepreneurs often have the misconception that because they are lucky enough to do what they love -- something they would do for free and still love -- that they don't have to think big. Instead, tell yourself, "I am no longer available for playing a small game when I know that I am capable of so much more," says coach Naomi Powell. "Money facilitates us to usher in the change that we want to do."

Get over your money fears. Many of us, women especially, are raised to think conservatively about money: a savings mindset vs. a growth mindset. Coach Emily Merrell says she visits her P&L numbers daily to inform her choices. "It gets me energized and motivates me," she says. Coach Jacqueline Twillie also suggests reading Secrets of Six-Figure Women: Surprising Strategies to Up Your Earnings and Change Your Life by Barbara Stanny to get over any negative mindset about money to price your product for what it's worth.

Break your own glass ceiling. "We often attach our self worth to what we're doing too much and it's not beneficial to entrepreneurs." says coach Tiffany Tolliver. "I am priceless. My services, however, have a minimum and a max based on the industry and that has to do with my experience." Whatever business model you choose — subscription, advertising, commerce etc. — consider what *you* are putting into your product, not just what your competitors or the market is doing. Tell yourself "I'm no longer operating under my potential," adds Naomi.

Keeping track of your ever-changing business model is a full-time job -- from managing incoming and outgoing funds to accounting for unexpected twists and turns (both good and bad!), CFO Is one of the many hats you'll be wearing as you set out on your journey. No matter what challenge you may face on your business journey, Office Depot OfficeMax offer a full suite of business services & solutions to help you succeed. With print & copy services to help build your brand to products to help you work from anywhere & organize & save time, accomplish more with Office Depot OfficeMax by your side.

Head to Office Depot's Selfmade page to check out even more amazing business resources (and discounts!) to help you accomplish more on your entrepreneurial journey. These offers are available for a limited time only, so be sure to take advantage of all this goodness while supplies last.

Collaboration Hacks Every Small Business Owner Should Know

Verizon
verizon

In our Take 5 series, sponsored by Verizon, we ask women in business about unexpected challenges, their inspirations, recent wins, and how the free Verizon Small Business Digital Ready Program has helped propel their business forward. Here, we meet Therise Edwards, founder/CEO of Teshley Solutions, an education consultancy firm that helps students and families navigate the complexities of the education system K through 12.

What is an unexpected business challenge that you faced and how did you overcome it?

I wouldn't call myself a FAFSA (Free Application for Student Aid) expert, but I ended up having to know a lot more about it than I ever anticipated. FAFSA is what administers Pell Grants, which is what a lot of colleges base their financial aid on. I knew about the application changes, and some were excellent, but they made a series of critical errors and a lot of parents were scrambling. It was not my intent to have this as my area of focus; it just became a necessity.

What's a recent small win for your business?

Recent small wins are my collaborations. I formed partnerships with one organization that focuses on students with special needs. I hosted a webinar with the executive director of that organization. I formed a partnership with members from an insurance company on planning and paying for college. That was my first corporate sponsorship. And I've got a series of events coming out because others actually reached out to me. One of them I met through another networking platform, but I got to that platform from one of the sessions that I did with Verizon Small Business Digital Ready Program.

How did you start to collaborate with external partners?

Just changing my strategies and my approach, and just being more secure and more emphatic in making connections. It ends up being this continual cycle.

Is there a woman in business that you admire or that you look up to?

I have two. Leontyne Anglin, who runs a nonprofit called Beyond Expectations. She works with a small pool of students, but she just gives them enormous exposure and opportunity. She's brilliant with collaborating with individuals and businesses and really bringing the students what they need. And then the other on a bigger scale is Cate Luzio, founder and CEO of Luminary, who taught her Business Plan Bootcamp through the Verizon Small Business Digital Ready Program. She is just a dynamo. She is just so supportive of women entrepreneurs. She's awesome.

How did the Verizon Small Business Digital Ready Program help propel your business forward?

All of the collaborations and partnerships with the exception of one all came from joining the Verizon Small Business Digital Ready Program. I’ve taken all of the free classes and the one on projections and pricing, something every entrepreneur struggles with, was very helpful. There have been so many of them. Sometimes you're completely ignorant in a category so you take the class and it's like, okay, that's good to have. But then sometimes you sign up for it and it's like, oh, yeah, I did know 90 percent of that, but this other 10 percent is going to be very, very helpful.

Learn more about the free Verizon Small Business Digital Ready Program and Teshley Solutions.

Illustration by Daniela Jordan-Villaveces


business advicebusiness coursebusiness programbusiness tipscareercollaborationsdigital ready programsmall businesssmall business tipsunexpected challengesverizon sponsorshipwomen in businesssponsoredentrepreneurship

Upgrade Your Thanksgiving With A Crescent-Roll Cornucopia

This edible crescent-roll cornucopia is our way of making a normal cheese boardmore festive — and definitely more fun — during the holiday season. Our go-to this time of year is a massive cheese plate that can stand alone and be the main attraction, or the starter for a larger meal. Press on for the surprisingly easy steps to braid a breaded cornucopia.

Chris Andre

Materials + Tools:

  • 1 roll of tin foil
  • 2 packages of crescent rolls
  • 1 egg (for egg wash before cornucopia goes into the oven), optional

Chris Andre

Instructions:

Start by sculpting tin foil into the shape of a cornucopia (it looks like a cone with an upturned tail). Pro tip: Lightly pack tin foil so it's easier to remove later from your baked cornucopia. Crescent rolls should be buttery enough that this shouldn't be difficult.

Chris Andre

Your tin foil mold should look a little something like this.

Chris Andre

Pop open the crescent rolls and cut the triangles into strips. Pinch together the ends of strips to make strips longer.

Chris Andre

Braid crescent roll strips. You can make these as fancy as you want. Not a braiding pro? Skip this step and leave those strips alone.

Chris Andre

Wrap tin foil cornucopia with braids/strips. Make sure you cover all the tin foil. Leave a little wiggle room at the opening of the cornucopia, so that when you’re done baking you can pull some of that tin foil out.

Chris Andre

Use any extra dough to cover the bottom of your cornucopia. Pinch the sides and anchor those braids/strips in.

Chris Andre

Brush on egg wash before placing your cornucopia in the oven. Bake at 350 degrees Fahrenheit for 20 minutes. Take out of oven and cover spots of cornucopia that are already golden brown with extra tin foil. Bake for another 20 minutes at 250 degrees Fahrenheit.

Chris Andre

Let it cool down until it’s easy to handle. Remove tin foil.

Chris Andre

Place cornucopia in corner of your cheese plate. Arrange cheese on your serving tray.

Chris Andre

Add crackers — we like to have two or three options.

Chris Andre

Don’t forget to fill up your cornucopia. It's called "the horn of plenty" for a reason. Fill with fresh fruit like grapes, apples, and pears.

Chris Andre

Add nuts like walnuts and pistachios to fill in any empty spaces. Garnish with fresh herbs like rosemary and sage to finish it off.

Chris Andre

Voilà! Invite over your friends, open a bottle of wine, and dig in!

Chris Andre

A cornucopia cheese board will become your new favorite holiday tradition.

Show us your crescent-roll cornucopias on Instagram and check out our baking classes (and our Easy Thanksgiving Desserts piece) for more holiday food inspo!

DIY Production and Styling: Paris Fried

Paris Fried: Paris loves any excuse to celebrate and throw a themed party. She loves experimenting in the kitchen and has a terrible sweet tooth. When she's not crafting in her studio, she's at the farmers' market buying seasonal produce or at her favorite local theater watching double features.

This post has been updated.

holidaysthanksgivingthanksgiving dessertsthanksgiving recipesfood

Meet The Top 3 Founders In Our Selfmade Pitch Competition!

When you launch a business, you have to know how to sell it: to customers, to potential investors, and to the people you bring on board. In the Selfmade Fall 2024 Pitch competition, we challenged our female entrepreneurs to sell us their big idea and compete to win over $10K in prizes to build and grow their business. The judging panel was made up of a group of inspiring women in business, including Emily Merrell, founder of Second Degree Society and Ready Set Coach; Niki Shamdasani, CEO of Sani Lifestyle Brand; and Joanne Oparu Ayebo Eriaku, business transformation strategist and founder of SOAR AI School of Readiness.

Selfmade is a unique, hands-on business membership for female founders. Our coaches support our mission to help make the dreams of female founders a reality. "Our mission is to even out the odds and offer a clear route to success for business owners who've been marginalized," Emily said during the competition.

Pitch day was filled with uplifting, celebratory moments as all members cheered on the 10 finalists. Winners were judged on creativity, inspiration, authenticity, uniqueness, and evidence of impact. The finalists were phenomenal in their pitches, but the judging panel had to make the tough decision of picking three women who really stood out. Here are the winners of the Selfmade Fall 2024 pitch competition, plus our amazing finalists below!

Meet the Selfmade PItch Winners

Hyacinth Tucker

1st Place Winner

Hyacinth Tucker | The Laundry Basket

A US Army veteran and wife, Hyacinth owns and operates The Laundry Basket, a laundry subscription service that provides expert, laundry-on-demand and dry cleaning services in Maryland, DC, Northern Virginia, Northeast Ohio, and Toronto Canada. The company is committed to sustainability, offering zero-waste practices in partnership with non-profits like Impact Zero. They are also paving the way for minorities and veterans to build careers and businesses through their workforce development program. Hyacinthhas a masters of business administration and is a mom of two. When she’s not running the show, she loves traveling, reading, and playing games with her family.

Monica Casillas

2nd Place Winner

Monica Casillas | Amor Movement

Founder Monica Casillas recognized that many young Latinas faced the same challenges she did in high school, experiencing the weight of generational traumas and their impact on growth and potential. Driven by her own experiences and determination, she set out to create a transformative movement with love as its guiding force. The mission behind Amor Movement is to ignite the passion and leadership potential in young Latinas in high school. The nonprofit is dedicated to equipping these future leaders with essential life skills, professional development, and civic engagement opportunities, empowering them to break barriers and create the lives of their dreams.

Yolanda McCray

3rd Place Winner

Yolanda McCray | Skyler M Style & Wellness

Yolanda's passion for clothing, accessories, and custom products inspired the creation of Skyler M Style & Wellness, named after her Cocker Spaniel who passed away from cancer in 2019. Skyler M Style & Wellness is an online boutique and pop-up shop in South Carolina that offers clothing, accessories, and custom gifts. They are also launching gift and subscription boxes that empower women to embrace their unique style while prioritizing wellness. Their carefully curated products offer a blend of fashion and self-care, solving the common struggle women face in balancing both.

Selfmade

Meet Our Other Amazing Finalists!

Thinking about becoming a member of Selfmade? Founders can join Selfmade for just $39 per month and have a chance to pitch your business at our next pitch competition! Here's how our Selfmade community is breaking barriers and connecting you with like-minded founders:
  • On-demand courses
  • Live coaching
  • 1:1 mentorship with leading industry experts
  • Opportunities for pitching your business (such as this pitch comp!)
  • Digital events
  • AND of course, our community of 4,000+ women founders, just like you!

Learn more about the Selfmade Founder Fund and join us!

Be sure to sign up for our weekly email newsletter for more tips and news!

Header image via Meghan Lamle on Unsplash

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Your Ultimate Guide To Holiday Shopping In 2024

Though Black Friday is traditionally the official start of the holiday shopping season, we argue that it’s been kicking since mid-October. We know, we know: it still feels extremely early to start thinking about the holidays, but they’ll be here before you know it! Plus, many brands and retailers are already promoting their holiday goodies with plenty of sales and discounts available right now.

If you’re ready to embark on your holiday shopping journey, but still need answers to questions like ‘when’s the best time to shop?’ and ‘where should I shop for gifts?’ and even ‘how the heck do I save money this season?’, you’ve come to the right place. Consider this your go-to guide for holiday shopping in 2024.

Scroll on for our best guidance on navigating this busy time of year and finding the best gifts possible!

When's the best time to do holiday shopping?

Kaboompics / PEXELS

The best time to do holiday shopping really all depends on your personal shopping goals. Do you want to get a jump on items you know will sell out soon? Do you want to save the most money possible? Do you want to focus on handmade, personalized gifts? These factors will undoubtedly influence your holiday shopping schedule.

Cottonbro Studio / PEXELS

Shopping early can be advantageous for all of the aforementioned goals. A lot of retailers start promoting their holiday products early on, giving you ample time to snatch up that limited-time lip kit or fancy water bottle you’ve been eyeing way before the holidays.

Plus, some of the best deals for holiday shopping happen ahead of Black Friday and Cyber Monday – in 2023, Experian observed a surge in early spending in October, thanks to early discounts, a trend likely to continue in 2024.

Finally, shopping early can be especially helpful if your plan is to focus on handmade or personalized gifts, giving the artisan you buy from (or yourself, if you’re DIY-ing your gifts) plenty of time to craft the item with love and care.

Gallup reported in 2023 that one in four shoppers start shopping as early as September, a trend likely to continue in 2024 – so you might already be embarking on your shopping spree!

Mikhail Nilov / PEXELS

If right now is just still too darn early for you to start holiday shopping, Black Friday and Cyber Monday are some of the best times to shop since so many retailers offer their largest discounts of the entire year. Plus, the late November-early December timeline can feel a bit more appropriate for the gifting season opposed to late October-early November, when everyone’s still recovering from Halloween.

The only thing to consider during this time is the shipping timelines for the items you purchase – but most retailers will typically advise their specific shipping schedules, so you don’t risk your goodies arriving late.

Where should I shop for gifts?

Ron Lach / PEXELS

You have three main options when it comes to where to shop for holiday gifts: online, in-store, and via our amazing gift guides. Of course, each method has its advantages and disadvantages.

Shopping in-store offers a tangible experience: the opportunity to hold specific items in your hands and gauge exactly what they’ll be like when you give them as a gift. The pitfall with shopping in-person is that it typically requires a commute and journeys through potentially very busy malls and shopping strips, which can add to the already-stressful holiday experience.

In-store shopping can be more physically exhausting, but it’s all about preference! Sometimes strolling through the stores that get all dolled up for Christmas is the best part of the season.

Andrea Piacquadio / PEXELS

Per Google, 65% of those planning to shop for the holidays say they will shop online more. Shopping for gifts online can be super helpful since you can centralize your findings in your browser’s bookmark tab or via virtual cart(s). Plus, shopping online can pose more opportunities for saving some money: lots of retailers typically offer discount codes for online users, especially if you sign up for their digital marketing channels (like email and text) and make a purchase.

Shopping online isn’t just shopping, either. The internet can be a stellar research tool to help you vet whether certain products are worth it, where they can be bought, and when they’ll be available. In fact, Google reported that more than half of U.S. holiday shoppers who went into a store last year say they looked up product reviews online and/or located an item in-store by checking it online.

Kaboompics / PEXELS

Last but not least, scrolling gift guides has to be our favorite place to shop for gifts – and not just because we write and publish them.

At their very core, gift guides help streamline the holiday shopping process, alleviating the stress that bubbles up when you’re wondering what the heck to shop for in the first place. Our gift guides are backed by real people, real experiences, and real opinions from our editorial team. We only promote products that we really love and believe in, oftentimes ones we’ve tested and reviewed ourselves.

We have gift guides for just about everyone on your list, with more on the way! Check ‘em out:

What are the best kinds of gifts to give?

Kaboompics / PEXELS

The best kinds of gifts to give are thoughtful gifts that consider the giftee’s interests, wants, and needs. These gifts can be sentimental, practical, or both simultaneously. What matters most in a gift is that it’ll be meaningful to them past just the holiday season, whether it’s helping them get through daily tasks, reminding them of a memorable trip or event, or giving them small doses of joy.

“Shoppers are increasingly looking for personalized and unique gifts that reflect the recipient's personality and interests,” says Mia Anderson, Owner of ChicSew. “With the rise of online shopping, many consumers are opting for curated gift boxes or experiences that add a special touch.”

Cottonbro Studio / PEXELS

Gift boxes, personalized items, books of interest, self-care goodies, and even gift cards can all be thoughtful gifts depending on the recipient. If you have no clue what your giftee is into, it’s not a bad idea to ask them what they want the most!

“My idea of a great gift is something that is in tandem with the recipient's interest and offers something new to the person, be it learning a new skill, enjoying a calming activity, or simply spending quality time with the family,” says Alfred Christ, Sales Manager & Marketer at Robotime. “This season, we encourage shoppers to shift their focus on quality and the memories their gifts will create and not just merely material aspects.”

When is Black Friday?

Sora Shimazaki / PEXELS

Black Friday is always the Friday after Thanksgiving. This year, Black Friday lands on November 29.

When is Cyber Monday?

Kindel Media / PEXELS

Cyber Monday is typcally the Monday after Thanksgiving. This year, Cyber Monday will land on December 2. Oftentimes, retailers and brands extend their online offers through the week (coined Cyber Week) after the event. Salesforce reported that 67% of shoppers in 2024 plan on shopping during Cyber Week!

Subscribe to our newsletter to stay up-to-date on our best 2024 gift guides, shopping advice, and all things holiday!

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When Is Starbucks' Red Cup Day?

The holidays at Starbucks are creeping up on us, people! Peppermint Mocha season will return on November 7. If you’re a die-hard Starbucks fan, you know Red Cup Day is a whole holiday in itself – the frenzy for a free reusable cup is truly no joke. There’s even an entire website dedicated to counting down the madness! Even though there’s no official word on when Red Cup Day 2024 will be, there are several clues that cue us into the annual event. Scroll on for details!

What is Red Cup Day?

Starbucks

Red Cup Day is Starbucks’ highly-awaited annual event that marks the start of holiday beverage season at the coffee chain. For one day only (and while supplies last), customers who order any of Starbucks’ holiday drinks will receive a reusable red cup that features a bespoke design for the respective year.

Starbucks

Here’s a list of all the drinks rumored to be available on the Starbucks holiday menu starting November 7:

  • Peppermint Mocha
  • Peppermint White Chocolate Mocha
  • Caramel Brûlée Latte
  • Sugar Cookie Almondmilk Latte
  • Chestnut Praline Latte
  • Salted Pecan Crunch Cold Brew
  • Iced Gingerbread Oatmilk Chai

What do the red cups look like for 2024?

Starbucks

Starbucks hasn’t officially announced when Red Cup Day will be for 2024, let alone what the famed red cups will look like this go-around. The one obvious point is that the cups will be red! They’ll also likely feature some festive motifs that echo the holiday season. Last year’s red cups boasted playful white and green stars and ornament-like shapes.

Why should I participate in Red Cup Day?

Starbucks

Red Cup Day = freebies, which can feel really rewarding if you’re really into receiving free goodies. Plus, it’s just a fun way to lean into the holiday spirit. The red reusable cup keeps giving beyond Red Cup Day, though! Every time you use the reusable cup for future Starbucks orders, you get a 10-cent discount as well as 25 bonus stars toward your Starbucks Rewards account to save up for more discounts on drinks, food, and merchandise.

When is Starbucks' Red Cup Day 2024?

Starbucks

Again, Starbucks hasn’t alerted us on when Red Cup Day will be for 2024, but based on previous Red Cup Days, we can infer it’ll land on the third Thursday of November. In 2022, Red Cup Day happened on November 17, and for 2023, it was November 16. The third Thursday of November in 2024 hits on November 21, so mark your calendars, everyone!

Additionally, check back here for official info as Red Cup Day approaches.

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This post has been updated.

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