Dia Simms And Erin Harris Share Generational Wealth-Building Strategies For Black Women

Black women are claiming a “rich girl summer” this summer, and for all summers. Am I right?

For all the bosses (or bosses in the making), the Generational Wealth panel this weekend during Essence Festival of Culture provided a few gems to help our ladies secure the bag, so they are not only getting paid their worth, but also adding tax.

In this candid conversation led by cultural curator Miss Diddy, both Dia Simms, Chief Executive Officer, Lobos 1707 Tequila & Mezcal and Erin Harris, Senior Vice President, Combs Enterprises emphasized the importance of “getting to the money.”

“Don’t be scared to take risks,” said Simms. “Understand your worth, understand how to articulate your worth and negotiate early on.”

As far as getting to the money she says, “Everyone has to do what they love, but for me, I wanted to understand all parts of the business. Understand that nothing happens until a sale is made and get close to that sale and/or understand your financial impact. If you’re not in the business of making money, then it’s a hobby.”

Harris, on the other hand, agreed. In order to get to the money you have to understand your self-value and your self-worth and what you’re bringing to the table, and what your proposition is,” she says.

She takes a “ready, aim, fire” approach where she says “you have to understand the dynamic of what your business needs and what the strategic partnership is that exists out there that can fill that void.”

Check out the full conversation in the video above. 

The Generational Wealth panel is presented by Coca-Cola.

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