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3 Value Bombs
1) If you are feeling called to make a bigger difference and be a vehicle for change, you don’t have to choose between making a lot of money and doing good in the world. You can do both together.
2) When you become equity-centered, you are doing things that may feel like they’re extra, but in reality are actually increasing and improving the experience for all people interacting with your business.
3) Equity is about giving people what they need in order to achieve their goals, thrive and live amazing lives – and do what they want.
ZipRecruiter: Let ZipRecruiter take hiring off your plate so you can focus on growing your business. Try ZipRecruiter for free at ZipRecruiter.com/fire!
Flippa: The world’s leading marketplace to buy and sell digital real estate. Get access to a FREE instant valuation for your business at Flippa.com/fire!
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: Building a Diverse, Inclusive and Successful Business with Trudi Lebron.
[1:27] – Trudi shares something she believes about being successful that most people disagree with.
- She believes that you have to take care of others first. It’s important that we prioritize the impact that we make in the world upfront.
[2:32] – What are equity-centered businesses and why should we create one?
- It is a framework where you put equity at the center of all the things that you do.
- Equity is about giving people what they need in order to achieve their goals, thrive and live amazing lives – and do what they want.
- When we put equity at the center of our business, we think about people’s needs.
- Practice a leadership style that is about creating more space and more opportunity, not replicating systems of oppression or things that constrict people.
- Prioritize cultural responsiveness.
[5:52] – Entrepreneurs nowadays only have one offer at one price point. How do we craft a business that serves multiple people at multiple price points?
- Higher-end offers can offset the cost of some of the other things that we offer that make it a bit more financially accessible.
- Have options at a price point that is more accessible – things that people can consume but not necessarily with the idea that they buy something low and travel through some funnels and buy your high-end offers.
- Have something that’s easily doable, but that has high impact.
[11:36] – What are some of the benefits we can expect when we create an equity-centered business?
- Reflexive impact connects clients to businesses. It creates a deeper connection with the work.
- People will stay with you longer and will be less likely to ask for a refund.
- When you become equity-centered you are doing things that may feel like they’re extra, but these things actually increase and improve the experience for all people interacting with your business.
[15:22] – A timeout to thank our sponsors, ZipRecruiter and Flippa!
[18:01] – How do we start doing the work to build an equity-centered business?
- It all starts with your personal journey. It’s about starting with yourself, understanding what you have learned about your own identity, what you’ve learned about other people, and having that conversation with yourself about your life.
- Start to connect with the importance of your work. Start to think about all those people and who they’re connected to.
[21:32] – How does a company’s core values relate to inclusion?
- The company values should be your personal values.
- Take your values and institutionalize them – don’t just put them on our website
[24:42] – What are some mistakes people make when it comes to building an equity-centered business?
- People are skipping internal work and proceeding to external stuff. They haven’t done the internal work
[27:02] – Trudi’s key takeaway and call to action for Fire Nation.
- If you are feeling called to make a bigger difference and be a vehicle for change, you don’t have to choose between making a lot of money and doing good in the world. You can do both together.
- TrudiLebron.com – Download your FREE Diversity and Equity Toolkit for Coaches and Entrepreneurs!
Shake the room fire nation. JLD here with an audio master class on building a diverse, inclusive and successful business with Trudi LeBron. Trudi is a diversity equity and inclusion coach who teaches individuals and institutions, how to build a successful anti-racist businesses. In the past seven years, she has grown her company script flip into a multi-six figure machine for helping others maximize their social impact. Trudi is a host of the business. Remixed podcast has been featured in Forbes and was recognized as one of the Hartford business journal, 40 under 40 leaders in 2016 in foreign nation to be talking about what exactly is an equity centered business.
And why should you create one? We're talking about how you can craft a business that serves multiple people at multiple price points. And let's talk about core values, fire nation. How can your core values relate to inclusion and so much more when we get back from thanking our sponsors Flippa is the world's leading marketplace to buy and sell digital real estate, including websites, e-commerce stores, SAS, businesses, apps, and other online businesses get access to a free instant valuation plus insights on how to improve sellability for your business at flippa.com/fire. Hiring is challenging, especially with everything else you have to consider today.
1 (1m 23s):
But there's one place where hiring is simple, fast, and smart that places ZipRecruiter try ZipRecruiter for free at ziprecruiter.com/fire. That's ziprecruiter.com/fire ZipRecruiter. The smartest way to hire Trudi say what's up to fire nation, and what's something you believe about becoming successful that most people disagree with.
0 (1m 48s):
Hey, y'all what is up? Thank you for having me. So something I believe, I believe that you have to take care of others. First. I have spent a long time in the entrepreneurship world, especially early on hearing from coaches that I need to focus on myself first, that I needed to stop focusing on other people that I needed to to make sure I had, you know, whether it was six figures or whatever the goal is. And I needed to focus on that first and then I can worry about taking care of others. And I just disagree. I go about life a little different.
0 (2m 29s):
I think it's really important that we're prioritizing the impact that we want to make in the world upfront.
1 (2m 35s):
I love that message and fire nation, as you know, from the introduction, we're talking about building a diverse, inclusive and successful business. So let's first just start off by chatting about equity centered business. What exactly is an equity centered business and why should people even think about creating one or including one in the first place?
0 (2m 57s):
Yeah, so equity centered coaching equity centered business, as a framework that we teach that really is about putting equity at the center of all of the things that we do. And so just for context, equity means that we are doing the things that people need in order to help them thrive. There is a big difference between a quality, which is something that I think many people grow up with this idea that we need to treat everyone the same. And that that is what is most fair. And it's all about being equal. Equal is about giving people the same thing and equity is about giving people what they need in order to achieve their goals in order to thrive and live amazing lives and do whatever it is that they want.
0 (3m 40s):
And so when we put equity at the center of our business, we're not thinking about giving everyone the same thing and like standardizing a particular practice or framework, or just executing the exact same way every time we're thinking about what do people actually need? How do we have to differentiate the way that we do things? How do we create containers, where people feel safe? And we recognize that that sometimes means that we have to do things a little differently. And so the components of equity center practice for us are that we're values driven. So we put values right upfront. We, we think about how our values are connected to every single decision, a business decision, personal decision that we make.
0 (4m 24s):
We think about a liberatory leadership practice, which means that we're thinking about how to create more space for people to be who they are. And that means in, you know, whether we're talking about our clients or our team members or whoever we happen to be in the community or relationship with that, we're practicing a leadership style that is about creating more space and more opportunity and, and not replicating systems of oppression or things that kind of constrict people. We also prioritize culturally responsiveness, which means that we're thinking about how people are different. We're thinking about what people are bringing to the tables, how their cultures, how their ethnicity is, how their racial identities, genders, et cetera, et cetera, et cetera, inform who they are.
0 (5m 13s):
And we take that into consideration in our practice, in, in, in our business. And that we have a social impact business model, which means, like I said, you know, right upfront is that we're thinking about how we create impact at the same time, as we're thinking about how we make lots of money and live the lives that we want. We're looking at all of those things at the same time. So that is what it means to be an equity centered coach or equity centered entrepreneur,
1 (5m 38s):
Fire nation a lot happened in 2020. I mean, we had obviously a worldwide pandemic. We had the BLM movement. We had a lot of things happen in this world. And so you need to be thinking like, how am I adjusting to the times? How am I transitioning out my staying cutting edge? How am I relevant? How am I doing the right things in the world that we live in today? And one thing that I really am excited to talk to you about on a business side of things is, you know, a lot of entrepreneurs truly, they just have one offer at one price point. So let's take a step back right now and talk about crafting a business that serves multiple people at multiple price points.
1 (6m 18s):
What does that even look like
0 (6m 19s):
When I started in the coaching industry years ago now, you know, I came from a non-profit background. I had a reallC successful career there. And there was a lot of adjustment when I came into entrepreneurship. And one of the things I just could not wrap my head around was this idea that is often taught that if you have like differentiated offers. So if you have lower priced offers that it somehow takes away the value of your higher price values. And so, you know, I was being encouraged by various folks and a lot of the things that I was reading to go high end and have these high price offers, and that, that would like maintain the value of my work.
0 (7m 0s):
And I could just never really get behind that. One of the things that I learned in the nonprofit space and kind of in the transition between the nonprofit world and the business world is this idea of social impact business. And so one of the ways that we can do this and think about having offers at multiple price points is that maybe some of our higher end offers can offset the cost of some of the other things that we offer that make it a little bit more financially accessible. So the way that works in my business, and I have been doing things like this for the last four years, is that I have a program it's called Be a Boss.
0 (7m 41s):
It is for women of color who live in the, my local community. I live in Central Connecticut. And that programs, that program attracts women who are younger in their careers and mostly in the non-profit space and education. And there are just tons of barriers for that population, a population that I used to be a member of, right to access coaching, especially when the coaching is requires lots and lots of money. So I started that program. It became a way for me to mentor a group of women at one time, instead of just trying to have coffee dates with people here and there, you know, put everyone in a group, put, you know, charged.
0 (8m 28s):
I think that first year we charged about like 40 or $50 a month. We had, we, we met in person back when we could do that. We met in person, we provided breakfast and the program was like cost neutral. So we generated some revenue because we charged some membership fee, but it basically paid to cover this space and the food that we were providing and maybe some, you know, like materials that program didn't need to make money because I was making money, you know, in other parts of my business, when I first started, I was doing a lot of consulting in schools and corporations, and it just didn't need, it needed to pay for itself, but it didn't need to, you know, have all this excess, you know, th this big profit margins.
0 (9m 18s):
And I just, couldn't not run that program. There was something inside of me that made it impossible for me to be charging tens of thousands of dollars to work with schools, to work with, you know, other, for profit business owners. And so if you looking at a population of people, again, a population that I was a part of, and to have all of this information and to not share it. And so it just was like, it wasn't possible for me not to have that kind of option and not to figure it out. And so that, that is one way, you know, that you can do it, but you can also have things at price points that are just, you know, more accessible things that people can consume.
0 (10m 5s):
Not necessarily with the idea that they buy something low end and then travel through a funnel to purchase your high-end offer. But that it is a standalone thing for someone that, you know, they can get some value out of it and maybe that's all they need. And the spirit of it is really more of being of offering a service. So that's kind of how, that's how I think about it. And these are very personal decisions. I really encourage people to think about what they value, what causes, what populations are important to them, who do they feel really called to help? Are you the right person to help them? And then thinking about how you can build a business so that a business and a program or project that is easily deliverable.
0 (10m 49s):
So for that program, it was like a three hour commitment once a month, no big deal, because if it, otherwise, if it's this big commitment, it gets a little harder to manage. And so you want to make sure that it's something that is, you know, easily doable, but also super heightened
1 (11m 5s):
And fire nation. One thing I want to add to this, as well as when you're offering more than just one thing at one point price point, when you craft a business that serves multiple people at multiple price points with multiple offers, like your making your business much more, future-proof like you're diversifying your offerings. You're diversifying your income streams. You're protecting yourself against an uncertain future. And it's not like it's a scary future. Oh, it's just an uncertain future. And that's okay that it's an uncertain future because we can't predict what's going to happen. But what we can do is protect ourselves with this diversification of offerings of income streams, et cetera. Now let's kind of switch a little bit back towards our focus on ECC.
1 (11m 46s):
And when we create an equity centered business, Trudi, what kind of outcomes can we, what kind of benefits
2 (11m 55s):
Can we expect?
0 (11m 56s):
There are a couple of different ways that we'll experience benefit. One of those is kind of like this personal, I call reflexive impact like the, the impact that you experienced as a result of your effort. I, I just know, and we hear from our clients all the time that when they go through this process, they start to feel much more connected to their business. They feel like they just have such a deeper connection to the work. They are more tied to the outcomes and the impact that they're creating through their work. And yes, they, you know, bruh, they experience increase in revenue because you're opening yourself up to more people.
0 (12m 36s):
Also the, this isn't like an immediate result. This is more of a long-term strategy. But over time, what you'll find is that you have less clients who want to leave your programs or communities because you build a community that's around values and around culture. And so people stay with you longer. You're less likely to have people like ask for refunds or, you know, like those kinds of those kinds of costs. Also, you, you hear from your clients that they feel better. I get messages all the time from our clients who are sharing stories of the what's happening in their businesses.
0 (13m 19s):
And they're getting messages from their communities saying, I'm so happy that you've made these changes. I feel so much more safe here. I feel like I can show up fully just like real, real expressions of gratitude because people feel like they are coming into a space that has been built for them. And this isn't necessarily just because you have, you know, created more diversity. And so now you have black and brown folks, for example, who are in your programs. This is for everyone. This is work that, you know, again, no matter what race you are, no matter what ethnicity, when you do this work, you, everybody benefits. I actually use this analogy of an elevator.
0 (13m 60s):
I call it putting an elevator in your business. And so the idea is, is that if you build a commercial building, you put an elevator in it and you know, you have to in order for it to be up to code. And the reason for that is so that people who cannot walk upstairs can access the higher floors, but everyone uses the elevator. Like everyone benefits from having an elevator in the building and we all use it and it makes the experience that much better. And so when you take on the work of becoming equity centered and being on a journey of anti-racism diversity, equity and inclusion, you're doing things that may feel like they're extra, but they are not, they really increase and improve the experience that everybody from your clients, to your staff, to your, even your family, you are just creating a better experience for all people who are interacting with your business,
1 (14m 59s):
Fire nation, ask yourself the question. What kind of business do I want to run? Like ask yourself that question. And I love those words, Trudi, that you used, you will have clients who feel better and like that to me, just like it feels right in it. And it is right, and it will happen. And that's just awesome stuff. So fire nation, we have so much more value coming up about doing the actual work and building this kind of a business core values and mistakes people make when they're building these types of businesses. When we get back from thanking our sponsors, businesses have had to be flexible this year from working remotely to pivoting their business models for long-term survival and growth.
1 (15m 41s):
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1 (16m 24s):
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1 (17m 6s):
And they're the largest marketplace globally for buying and selling sites of stores, apps, and online businesses. So yeah, their valuations are accurate once you list for free on Flippa, you'll be connected peer to peer that's, right buyers and sellers meet on the platform and negotiate and exchange funds and assets with over 30,000 new buyers, joining flip a monthly and over 300,000 buyers globally. It's no wonder Flippa is the number one marketplace to buy and sell digital real estate, get access to a free instant valuation plus insights on how to improve sellability for your business at flippa.com/fire. That's F L I P P A.com/fire, Trudi we're back and fire nation. They are willing to do the work, but how, how can we start doing the work in building an equity centered business?
0 (17m 53s):
The work really starts as a personal journey, much like any kind of mindset work that we, you know, we all take on at various stages. It's, it's really about starting with yourself, understanding what you have learned about your own identity, thinking about your own racial background, your own ethnicity. What have you learned about other people? How have you, you know, held on to stereotypes, whether intentionally or unintentionally, just really being in an open and honest, transparent conversation with yourself about your life, right. About your identity and who you are taking a look around to ask yourself, what authors do I read?
0 (18m 34s):
What podcasts do I listen to? What content creators do I follow? Do those all look like me? You know, maybe I can start there and diversifying some of the, the teachers and the mentors that I'm accessing. So that really is part Hawaiian is just like an internal look at who you are and asking yourself, have you done some of the unpacking that you need to do around your own identity? And also like how comfortable are you with these kinds of conversations around race, around culture? Like it, those things make you anxious and a little bit sweaty. That means that you need to have more of them. You need to get into spaces where you can be talking about it more because this conversation has been around for a long time and it's not going away.
0 (19m 19s):
I know it feels like it's newer. I, when I started doing this work in the coaching industry in like 2017, 2018, I was really surprised that it had taken so long that these conversations had taken so long to reach this industry. Because I had been doing this work since at least 2008 in schools and corporations and you know, all kinds of other places. So this is a new conversation to you, like start leaning in. So that's the first thing. The next thing is really start to connect with why this work is important with you or important to you here, here.
0 (19m 59s):
And here's what I'll say about that. I just want everybody to just think for a moment about the people that you serve, think about the people that you serve. And then I want you to think about all of the benefits that those people get from working with you. And then that I call that primary impact. That is your direct intention, that the outcome of your work on the people that are coming to you to work with you. Now, I want you to think about all of those people and who they're connected to. So all of those people's clients or customers or family members or friends, and as a result of working with you, all of that, that bigger extended network of people experienced some kind of benefit because of the work that you have done with your client.
0 (20m 49s):
So think for a moment, if you're reaching more people of all backgrounds of all ethnicities, what could be possible, that is what this work is about.
1 (20m 60s):
Fire nation. I hope you can hear the passion, just the enthusiasm and just the realness in Trudi's voice, as you talking about this, because this is important work, this is an important message. And a lot of times it comes down to the core values that we have within our company. So specifically, Trudi, how does a company's core values relate to this type of inclusion?
0 (21m 23s):
Yeah. So I always tell people that, you know, there should be one set of values. Your company values like should be your personal values. I don't believe in that much separation between who we are as people and as leaders and what our businesses stand for. And, you know, I, I think a lot of companies, I work with a lot of people and some people are seven and eight figure entrepreneurs. And they come to me with this list of values sometimes. And they'll have things like efficiency and responsibility, which are really important things. But when we kind of dig a little deeper, it turns out that those things are important, but they are actually not core values. And that core values what they tend to find when they dig a little bit more is that their core values are connected a little bit more to the human experience.
0 (22m 11s):
And so people usually land on things like love and relationships and community. And when we do that, then we can start saying, okay, how do these things show up in my business? If love is a core value, how does that show up? Not one things are fun and cool, and everyone's hanging out at the retreat, right? Like that's easy, it's easy to have those values, but how does that value show up when there's a conflict? How does it show up when maybe you have to let someone go see member go, how does it come up when there's a customer in your inbox? And they are unhappy with a product or a service, how do those values show up?
0 (22m 51s):
So if we take our values and we kind of really institutionalize them and create like operations around them and not just like put them on our website, it's like these pretty kind of things that people can kind of like celebrate, but there are actually things that we live out every day. We make different decisions about our business. We just do. And so I really encourage people to have, have your values, anytime that you're trying to make a decision asking yourself, how does this, how does this connect to our value? So for us, for example, I'm always asking, how does this connect to community? How does this connect to self direction? How does this connect even to adventure?
0 (23m 33s):
Right? So having that as a way to that, what that does for, to create inclusivity is that it starts, you start to build a strong culture in your business and in community. And the culture of your community are the things that bind people together and attract people to you. And so it becomes way, way bigger than any again, identity we have, they become, our culture, becomes the things that we stand for and the things that we believe in and the things that we rally around
1 (24m 3s):
Our nation, these are easy questions, but they're important questions. You need to be asking yourself and really taking both an aerial, like step back view, but then also an up-close and impersonal view of like, Hey, where is my company's core values? And how do they relate to inclusion with what I'm going forward with? And we're going to still, as we do these types of things, make mistakes, fire nation, because we all make mistakes. We all make missteps, but let's get specific Trudi on the mistakes that you are seeing people make when it comes to building an equity center business.
0 (24m 35s):
So one of the mistakes that I'm seeing is that people are skipping the internal work, and they're just kind of going to the external, the external stuff. So they're putting diversity statements on their website. They're calling themselves, anti-racist, they're, you know, using stock photos of people who are, you know, mixed race identities. And they haven't done kind of what I kind of think of as like the soul work. They haven't done the internal work to be able to hold the responsibility of those things. Because if you put a diversity statement on your website, or if you say that you're anti-racist, or if you start using these photos and you start bringing people, you know, more diversity into your community, but you haven't done the work to create really clear community standards that kind of back up your inclusivity statement and you haven't created processes around it, and you don't know what to do.
0 (25m 35s):
If one of your clients says something that is racist or xenophobic or homophobic to another client, and you don't know what to do. Like you haven't done the work to prepare yourself or your team for that. Or you roll out a, a statement and you get pushed back from a portion of your clients. And now you're rolling it back because you haven't done the work to actually prepare to like, hold it. That is the biggest mistake. People are moving too fast. And I get the intention I really do. And I think it's a great intention, but we have to be doing these things simultaneously. We have to do the personal work, the kind of process work, the policy work. When we're talking about doing this in our business, it is like it is a 360 degree process that we have to take.
0 (26m 24s):
But if you're willing to take it on, I promise you, it will transform not just your business, but you in the process,
1 (26m 32s):
Fire nation, do the soul work. Like I love how you put that Trudi, the soul work, because that's where it needs to come from. Now. You shared a lot, Trudi, a lot of value, lot of steps that we can take a lot of soul searching that we can do a lot of process that we can implement the right way. But what's the one key takeaway that you really want to make sure fire nation gets from our entire conversation today.
0 (26m 56s):
The key takeaway that I want people to get is that if you are feeling called to make a bigger difference and that you are feeling called for your business to be a vehicle for change, that you don't have to choose between making a lot of money and doing good in the world, like you can do both together.
1 (27m 17s):
It's a powerful message. Fire nation, Trudi, how can our listeners connect more with what you have going on? Any call to action you have for us? And then we'll say goodbye.
0 (27m 26s):
Yes. So folks should come and hang out with me on Instagram, just @TrudiLeBron. I'm also on clubhouse for those folks who are on clubhouse. You can find me there and I have a free gift. It's called the diversity and equity toolkit for coaches. It, I first created it in 2018, but it's fully updated with new resources. And it's a great place to start. If you're looking to be connected to some more learning tools and you can get that just on my website, TrudiLebron.com/eof
1 (28m 1s):
Fire nation. You're the average of the five people you spend the most time with. And you've been hanging out with TL and JLD today. So keep up that heat head over to eofire.com type Trudi T R U D I in the search bar. Her shoulders page will pop up with everything we've talked about today and check her outs on Instagram, Trudi LeBron, and check her out on clubhouse by the way. I'm on clubhouse too. So fire nation, it's a great new audio hangout spot. Check it out for sure. I'm John Lee Dumas and make sure you head over to TrudiLebron.com/eofF for the diversity and equity toolkit for entrepreneurs.
1 (28m 41s):
Great giveaway. Have that in your toolbox fire nation. Trudi, thank you for sharing your truth, your knowledge, your value with fire nation today, for that we salute you and we'll catch you on the flip side. Thank you. Hey, fire nation today's value bomb content was brought to you by Trudi and fire nation. My first traditionally published book is hitting the shelves on March 23rd of 2021. And I am fired up about it to say the least the title is called the common path to uncommon success, your roadmap to financial freedom and fulfillment. Pre-orders fire nation pre-orders are everything. And if I've given you any value over the years, it would mean the world.
1 (29m 24s):
If you would head over to my pre-order page to lock in your copy or copies, I also have amazing bulk orders as well. You can check out on that page. If you pre-order fire nation, I have sweet bonuses and extras for those people who do pre-order. And those are limited in going away, head over to uncommonsuccessbook.com, uncommonsuccessbook.com, check out all the awesomeness of the bonuses. The bulk buys all that jazz and I'll catch you there. Fire nation, or I'll catch you on the flip side. Hiring is challenging, especially with everything else you have to consider today, but there's one place where hiring is simple, fast, and smart that places ZipRecruiter try ZipRecruiter for free at ziprecruiter.com/fire that's ziprecruiter.com/fire ZipRecruiter.
1 (30m 14s):
The smartest way to hire Flippa is the world's leading marketplace to buy and sell digital real estate, including websites, e-commerce stores, SAS, businesses, apps, and other online businesses get access to a free instant valuation plus insights on how to improve scalability for your business at flippa.com/fire.
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