120. Building A Sustainable Online Business (Tori's Interview on Independent Business Podcast)
Oct 12, 2023
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Tori Dunlap interviews Natalie Franke, Chief Evangelist at HoneyBook. They discuss building a mission-focused business, challenging societal narratives about money, and differentiating yourself in the crowded business landscape. Other topics include building a successful online business, email marketing strategies, and the importance of leading with value.
Open conversations about money are necessary for wage transparency and closing the wage gap.
Blaming frivolous spending ignores systemic issues and unfairly targets certain consumer choices.
Hard work alone does not guarantee financial success; addressing structural obstacles and advocating for fair compensation are crucial.
Deep dives
Talking about money is taboo
One of the biggest money myths is that talking about money is considered impolite or unprofessional. This myth perpetuates the idea that money should be a private topic, which ultimately keeps people underpaid and overworked. In reality, open conversations about money are necessary for wage transparency, closing the wage gap, and creating a more equitable society. By breaking the taboo and starting conversations about money, we can empower ourselves and others to demand fair compensation and financial success.
The stigma around frivolous spending
There is a persistent myth that frivolous spending is the reason why individuals struggle financially. This myth often targets gendered purchases like coffee, designer clothes, or beauty treatments, perpetuating the idea that women's spending habits are wasteful. However, the real obstacles to financial security, such as rising housing costs, low minimum wages, and student debt, have a much larger impact on one's financial well-being. It is important to challenge the narrative that blames frivolous spending, as it fails to address systemic issues and unfairly targets certain consumer choices.
The belief in hard work as the key to wealth
The myth that simply working hard will make you wealthy is a common misconception. While hard work is important, success is influenced by a multitude of factors, including social, economic, and systemic barriers. Many individuals, particularly marginalized groups, work tirelessly but struggle to accumulate wealth due to systemic inequalities. It is crucial to recognize that hard work alone does not guarantee financial success. Addressing structural obstacles and advocating for fair compensation and opportunities are equally important in building wealth and achieving financial stability.
Differences in money advice for women
Women often receive different money advice compared to men. While men are encouraged to expand their earning potential and diversify their revenue streams, women are often told to shrink their spending and save more. This perpetuates the idea that women's financial success lies in frugality rather than expansion or making more money. It is essential to challenge this narrative and empower women to take control of their finances by pursuing financial growth and demanding fair compensation. Building wealth should not be limited to certain groups and everyone deserves the opportunity to thrive financially.
Being controversial and having something to say
One key differentiator for successful businesses is being willing to have an opinion and be somewhat controversial. While not advocating for offensive or harmful behavior, having a unique perspective and a clear message attracts an engaged audience. Trying to please everyone ultimately leads to being overlooked by potential customers or clients. By embracing a clear point of view, businesses can connect with their target audience and build a loyal customer base. It's better to be polarizing than to be forgettable.
Have you ever wondered, “How do you build an email list? How do you go viral on Instagram or TikTok? How do you build followers? How do you actually grow and scale a business?” Well, tune in to hear the answers to those questions and more as host Tori Dunlap sits down with Natalie Franke, author, entrepreneur, community builder, and Chief Evangelist at HoneyBook. In this special crossover episode, Tori and Natalie chat about how to build a mission-focused business, challenge societal narratives about money, and differentiate yourself in the crowded business landscape.
