by BLACK ENTERPRISE Editors
For many Black women entrepreneurs, the money is not coming in on time.
The deals are closing. The work is getting done. The invoices are going out. But for many Black women entrepreneurs, the money is not coming in on time.
As more Black professionals turn to entrepreneurship–some by choice and many out of necessity–there is a growing gap between earning income and actually receiving it. For those building without a financial safety net, that gap can create real pressure.Dee Bowden knows this pattern well.
But for Bowden, that number is only part of the story.“What I see over and over again is this,” she said. “We’ve learned how to build the business. We’ve learned how to get the client. But we haven’t been taught how to consistently get paid on time.”
During Financial Literacy Month, conversations about money often focus on saving, budgeting, and getting out of debt. Bowden believes those conversations are incomplete if they leave out one key skill: securing the revenue you’ve already earned.
For Black women in particular, that skill is critical. Many are navigating entrepreneurship after layoffs, career pivots or a desire for more control over their time and income. At the same time, they are managing households, supporting families, and building something that has to work.“When women are educated on how to collect their cash, their confidence rises,” Bowden said.
Bowden’s work focuses on building that confidence in a way that aligns with how many women already lead—with professionalism, care and strong relationships.
Her framework is based on four key principles:• Problem Solving – Understanding what is delaying the payment and addressing it directly.• Customer Service – Maintaining professionalism and going the extra mile in every interaction goes a long way toward getting the invoice paid.• Expressing Gratitude – Gratitude is one of today’s most underrated soft skills, yet one of the most powerful.• Relationship Building – If you’re not strengthening connections with your customer, you run the risk of your invoice becoming another bill sitting in a pile.
“This isn’t about chasing people down, it’s about having a process that supports your business,” Bowden said. “Without a process, you’re not going to get paid.”
Bowden created a checklist with 5 tips to collect the cash. To download your free copy, visit: https://collectthecash.biz/freebie/.
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Source: Black Enterprise
