Money Talksis an xoNecole series where we talk candidly to real women about how they spend money, their relationship with money, and how they get it.
As we are out here getting to these coins, I want to ask you all something really quick. If you could write down the first idea that pops into your head, how much is it worth to you? And I am not talking about how much money you THINK people would pay for your idea. But how much money do you honestly believe your idea is worth right now? I ask this because a lot of times, as creatives, when we are coming up with ideas, we struggle with being confident in knowing how valuable they are. Now, no idea is too big or too small. But, with so many possibilities in the world with how you make a statement, it can get a little cloudy with believing that your idea can stand out among the rest.
I believe the trick is to not focus on how much faith you have in other people to buy in, but to focus on having faith in yourself. Do you believe in yourself? Do you believe your idea is valuable because you are valuable? You should always be confident in your capabilities first to really push forward your ideas/dreams. Your ideas are an extension of you, so they will always be pretty expensive. It doesn't matter how you came up with the idea or if you feel it has been done before. When you take a chance on your idea and stay determined to see it through, you are taking a chance on yourself. Every time.
This mindset is something I learned from six-figure entrepreneur Afenya Montgomery. Last year in 2020, I was able to attend an event at a coworking space where I connected with other women who were pursuing different businesses in different industries. It was so amazing listening to all their stories, especially the host, Afenya Montgomery. When we met, I knew we would stay in touch instantly. Now one year later, Afenya reminded me of how important investing in yourself is when it comes to entrepreneurship.
"I'm the kind of investor where I invest in myself and my ideas to watch them grow and flourish. I had this idea and I had to see it through. Nobody wants to look back years later and think, 'I should have done this or that.' I felt like if I was going to bet on anything, I was going to bet on myself. Always remember, when you are putting real money behind an idea, don't be in the talking stage or dating the idea. You have to be married to it."
Courtesy of Afenya Montgomery
Afenya Montgomery, born and raised on the south side of Chicago, started her professional career in the nursing field. Afenya was able to obtain her Master of Nursing degree and an MBA with a focus in executive leadership. In the year of 2017, Afenya felt that it was time for her to pivot. During that time, she started meeting up with her friends at local coffee shops and noticed that there was a lack of resources for people of color in entrepreneurship. That is all it took for Afenya to come up with an idea to help change that problem. Afenya mentions, "The idea began to form that it would be great to create a network of people that could act as accountability partners, potential business collaborators and resources for each other. Our first event was a panel discussion in June 2017 titled, 'Leveraging Your Network to Create Impact,' and we haven't looked back since."
Afenya is now the founder of The iCAN Collective. The iCAN Collective was founded on the pillars of Innovation, Collaboration, Accountability and Network. The iCAN Collective strives to give women a space to build a foundation of collaboration, authentic connections and support as they blaze new trails on the path of entrepreneurship or in their careers. This company is a collaborative coworking space for women of color entrepreneurs, creatives, and game-changers, where it offers memberships, exclusive events, networking opportunities, and brand packages. Afenya wants to be a resource for creative entrepreneurs and celebrate them for going after their dreams.
When you chase your dreams and execute them no matter what, nobody can tell you nothing.
In this installment of "Money Talks", xoNecole spoke with Afenya Montgomery about how trusting your gut, being strategic, and building your business at your own pace are the keys to creating financial freedom.
xoNecole: How much money do you make in a year? A month?
Afenya: I usually make mid-six figures with my company in a year. My revenue breaks down to making around $15-20K a month.
What do you define as “wealth” vs “success”?
Success for me means you are setting goals for yourself and getting them accomplished. You create these milestones for yourself and they can be small or big. Either way, you are getting them done. As far as wealth, wealth to me is being able to have certain things you want in your life, but more importantly, leaving something behind for your children and building that legacy.
What’s the lowest you’ve ever felt when it comes to your finances?
The lowest point for me was back before I was in nursing school. It was during the Great Recession and I got laid off. At the time, I was a newlywed, I had just bought a house, and I was about to have a baby. So that was when I started to look at money differently. I realized you can't only depend on a job. You need other ways in order to sustain money. I didn't think about entrepreneurship at that time honestly, so what I did was, I started a blog about my journey. Then, I looked at what I was passionate about, what careers aligned with that, and thought about how I can have more control over my money.
How important is investing to you?
I have always been interested in investing and how I can save money better. Even before my company, I would open money marketing accounts and make sure I was smart about utilizing what I had for the things I needed at the time. When it comes to investing, I think it is really important to know which type of investments are right for you. Because let's be real, it is not easy investing thousands of dollars or 500 dollars into something that you want([laughs). I'm the kind of investor where I invest in myself and my ideas to watch them grow and flourish. But it is important to have a diverse portfolio and that you are married to this investment/idea.
When it comes to structuring your business, what are your streams of revenue and how did you go about establishing them?
Prior to having a physical space, The iCAN Collective was about creating workshops and networking events/opportunities for women of color interested in entrepreneurship. I found myself having these events in different spaces and figured why not create a space that was permanent. From there, I wanted to provide different things that a lot of spaces do not offer. So with this space, we provide membership, a coworking atmosphere, host events or intimate gatherings, and we offer brand packages. It's important to have something that is unique and stands out from the rest.
What are some unhealthy habits about money or some unhealthy mindsets about money that you had to let go of to truly prosper?
The first thing I had to change was this mindset about money as if it will never come. My brother would tell me these affirmations stating, "Money is always free-flowing. I am abundant. Money will come my way, etc." Affirming to myself that money is always around me shifted my scarcity mindset. I think a lot of us think about money with this mindset and we cannot continue thinking, 'If I spend this amount or I go after this goal, I will never have money again.'
"Affirming to myself that money is always around me shifted my scarcity mindset. I think a lot of us think about money with this mindset and we cannot continue thinking, 'If I spend this amount or I go after this goal, I will never have money again.'"
Courtesy of Afenya Montgomery
What keeps you motivated?
If you are passionate about something, then build the strategy behind what you want to do. I have heard people say that when it comes to business, do not go after your passion. But why passion is important to me is because that is honestly what keeps me going. If I don't have any interest or drive to be in that space, then I can't innovate in that space. Entrepreneurship is not one of those things where you're going to get a check just for showing up. You have to be really good at what you do and also have passion for it to see it flourish.
What is the most important lesson you’ve learned through being a businessowner?
It is important to be flexible and roll with the punches when you're an entrepreneur. But more importantly, my main lesson has been trusting your gut and trusting God. If God gave you an idea/mission, it is already protected by Him. I always tell people that I never wanted to be an entrepreneur. It was more of a God-given assignment and I have faith in what I am creating to be aligned with my purpose.
What was it like learning to expand your business from one city to multiple cities?
We are looking to expand The iCAN Collective to New York, which is funny because I actually wanted to move to New York when I was 18 years old (laughs). I am so in love with the vibe of New York and I also have family who live there. What I learned about creating a space in a new city is to always poll your people. It is really important to build relationships with the people in the community. I try to look at it through the lens of what I can I bring to this space to support the community the best way I can? I ask myself, what is the main need and what can I provide?
Was it easy to become a well-respected businesswoman in your respective industry or did it take time?
In the beginning, I was letting people know 'ya'll better put some respect on my name' (laughs). The thing about Chicago is that we are known to be a little cliquish. So it is not that I didn't know people in the industry, they just didn't know me. I won't lie, navigating through the industry was hard. I would go to a bunch of events, hand out my business cards, and network, network, network. But as time goes on, you realize that it is not about everyone knowing who you are, it is about the right people knowing who you are. You want to know the people who can speak your name in rooms that matter.
"As time goes on, you realize that it is not about everyone knowing who you are, it is about the right people knowing who you are. You want to know the people who can speak your name in rooms that matter."
Courtesy of Afenya Montgomery
What’s the best advice that you’ve received about finance during your first year of entrepreneurship?
The best advice I think that helped me during my first year is to build slowly. There is this misconception where you see people starting their businesses and everything is happening so fast, so you feel you have to catch up in a sense. But you really have to look at your strategy for your business, intentionally, in order to scale. Another really good piece of advice I received is that, a lot of people talk about an individual having multiple streams of income. But I don't think we talk enough about businesses having multiple streams of income. I have learned that it really helps to diversify what you provide in your business. If you are trying to be a million-dollar business, make sure that every move you make feeds that desire.
To learn more about Afenya, you can follow her on instagram @afenyabsn. You can also check out her business website here.
Featured image courtesy of Afenya Montgomery
This post is in partnership with BET+.
Kingdom Business is back for its second season, with even more sermons, songs, and serpents. The series picks up where it left off, with actress Serayah as Rbel caught between the stripper pole and the pulpit. With the first lady of the church working desperately against her, Rbel must find a way to live her dreams and honor her friend while figuring out her faith in the process.
Season one served a collection plate of rivalry, deceit, and revenge –– among many other tribulations. Between the 28-year-old’s acting, conviction, and harmonious voice, here are a few reasons why season two of Kingdom Business is a must-watch.
If the Spirit Doesn’t Move You, Serayah’s Singing Voice Will
Rbel, formally known as Rebecca Belle, is a stripper whose life forcibly takes a turn after suffering a tragedy. Through her quest to find the truth, Rbel finds herself at odds with the head of a local church, First Kingdom’s Denita Jordan, played by the legendary Yolanda Adams. Rbel unknowingly emerges as what a faithful Christian embodies: a perfectly imperfect human who works every day to try their best while leaning on God. Although struggling with her faith, each ballad sung by Rbel can be felt, as the lyrics relate to personal struggles we all endure in different ways. Gospel songs hit differently when your life is in shambles, and chile, Serayah is singing new life into folks.
Serayah is a Formidable Opponent to The Yolanda Adams
As one of the best-selling gospel artists of all time, it’s no easy task to take on the role of a person on the opposing side of greatness. Serayah’s Rbel does an excellent job meeting Jordan at her level while shining through her solos. Throughout season one, Rbel emerges as a top streaming artist, an accomplishment that begets something of a holy war.
Serayah’s Acting Range is Engaging
As a former stripper trying to make a name for herself in the gospel industry, you can imagine the struggles that could come with it. Rbel goes through a range of emotions, all understandable and relatable. Despite several crises of faith, Serayah ensures Rbel delivers a humbling performance that makes the audience root for her redemption.
The Kingdom Business Soundtrack is Everything
Streaming now on Spotify, Tidal, and Apple Music, the Kingdom Business: Season 1 soundtrack is one you’d want to add to your playlist for high and low times. Aside from four soul-soothing songs from Serayah, the soundtrack also features singles from co-star/Hamilton’s Chaundre-Hall Broomfield, gospel artist Chandler Moore, and legend Yolanda Adams.
Serayah’s Rbel Makes You Root For Her
With First Kingdom beginning to crumble under the pressure of lies, infidelity, and deception, Rbel’s window to take that top spot seems wide open; however, the end of season one showed us the Spirit had other plans. Whether you believe or not, Serayah’s Rbel makes you want to see her win. Who doesn’t love a good underdog with a laid 22” bust down? Whether she seeks Him or not, God is proving to be on Rbel’s side. But is it enough to turn everything around for her? Will Rbel lean on faith or fear?
With secrets coming to light, success within reach, and the devastating conclusion of season one, you don’t want to miss season two––especially with more guest collaborations. Kingdom Business returns to BET+ on Nov 2.
BET+ Original | Kingdom Business | S2 Official Traileryoutu.be
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Whether you're a seasoned pro or a newbie to hosting Thanksgiving or Christmas, knowing how long to cook a turkey is crucial for putting on a delicious holiday feast. In the traditional Thanksgiving or holiday dinner spread, a turkey acts as the centerpiece and often the dish that all the other dishes complement.
When it comes to cooking the perfect mouthwatering bird, the size of your turkey plays a big role in determining how long it should be in the oven. Think of this as your cheat sheet for how long to cook a turkey. So, grab your apron, and let's break down the ideal cooking time for the perfect turkey for your holiday meal!
How Long To Cook Turkey
First things first, defrost your turkey.
And how long do you defrost a turkey? Well, standard practice is to defrost a turkey for 24 hours for every 4-5 pounds of turkey. So, a turkey that is 4 pounds would be defrosted for 24 hours; a turkey that is 8 pounds would be defrosted for 48 hours, and so on and so forth. A 12-16 pound turkey can take 3-4 days to thaw in the fridge.
The safest way is to defrost your turkey in the fridge. Place your bird in a large tray or on a plate to catch any drips, and keep it covered to prevent any cross-contamination.
If you're short on time, you can use the cold water method to unthaw your turkey safely. Submerge the turkey in a large container with cold water. Change the water every 30 minutes, and allow 30 minutes of thawing for every pound of turkey.
Cooking the Perfect Turkey
Cooking a turkey at 325 degrees Fahrenheit is a great choice for a delicious and evenly cooked bird. As a rough guideline, you can estimate about 15 minutes of cooking time per pound of turkey.
However, it's super important to use a meat thermometer to ensure it's fully cooked. The internal temperature of the thickest part of the turkey (typically the thigh) should reach 165 degrees Fahrenheit. Keep reading to learn more about ideal cook times for different pounds. The oven temperatures are based on Fahrenheit.
How long to cook an 8 pound turkey in the oven?
Cook a turkey that is 8 pounds for 2¾ to 3 hours at 325 degrees.
How long to cook a 10 pound turkey?
For a turkey that is 10 pounds, you can cook it in the oven for 2¾ to 3 hours at 325 degrees.
How long to cook a 13 pound turkey?
Cook a 13 pound turkey for 2¼ to 2½ hours in the oven at 425 degrees.
How long to cook a 15 pound turkey?
For a 15 pound turkey, cook it for 3 to 3¼ hours at 425 degrees.
How long to cook a 20 pound turkey?
For a turkey that is 20 pounds, cook it for 4 to 4½ hours at 325 degrees.
How long to cook a 22 pound turkey?
The cook time for a 22-pound turkey is around 4¼ to 4¾ hours at 350 degrees.
How long to cook a 24 pound turkey in the oven?
A 24-pound turkey can be cooked in around 5 to 5¼ hours at 350 degrees.
Let the Turkey Rest
Also, don't forget to allow your turkey to rest for about 15-20 minutes after taking it out of the oven. This helps the juices redistribute for a juicy, tender turkey.
Featured image by Drazen Zigic/Getty Images