April 7, 2021
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Top Story
First Black woman billionaire thrives others' success
Johnson (Ned Dishman/Getty Images)
Sheila Johnson, the first Black woman to become a billionaire in the US, has built her career on encouraging the hiring of Black people in hospitality (as owner of Salamander Hotels & Resorts), entertainment (as co-founder of the BET Network) and sports (as part-owner of three Washington, D.C., pro sports franchises). Lifting up others is in her DNA, she says, noting that "[t]here are a lot of billionaires, multi-billionaires, trillionaires, but it's what they do with their lives and how they give back to the community [that matters]."
Full Story: CNN (4/6) 
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Business Trends
Social science drives Toucan social-gathering platform
(Pixabay)
Toucan, an online social-gathering startup co-founded by 22-year-old Stanford University student Antonia Hellman, is offering an alternative to the chaos of traditional video conferencing platforms by allowing participants to move freely around a "room" to different subsets of people and topics, just like they would at a networking event or party. The platform, which has raised $1 million in pre-seed funds, is designed to allow more organic interactions that can lead to deeper social connections, Hellman says.
Full Story: Forbes (tiered subscription model) (4/6) 
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Beauty brands heed the call of private messaging
(Pixabay)
Curology, Glow Recipe, Glossier and Versed are among a growing legion of beauty brands trialing live events, Q&As and other initiatives for private groups on social platforms and apps to replace in-person events and boost engagement and sales, writes Liz Flora. "[T]here's a real difference between building out social networking tools, or building out a blog, and creating a thoughtful, moderated space and ensuring safety into that space, so that people can have all sorts of conversations," said Geenie founder Chana Ewing.
Full Story: Glossy (tiered subscription model) (4/5) 
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Meetings can be successful even if they aren't in person, and compromising isn't always the right answer, say Edvo founder Shireen Jaffer and Photographers Without Borders founder Danielle Khan Da Silva, respectfully. Four other founders also break down entrepreneurship myths.
Full Story: HubSpot (4/5) 
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Small Business Spotlight
The Bird bakery flew north for the spring, opening its third location in Denver on the heels of two successful stores in Texas. TV personality and founder Elizabeth Chambers says women are behind everything in the business, including the sweet treats' recipes, which are hers, her mother's and grandmother's.
Full Story: The Denver Post (tiered subscription model) (4/5) 
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Social Media Buzz
Business-to-business marketers should harness the power of retargeting on social media as the strategy not only drives conversions, but also boosts brand awareness, writes Fractl's Domenica D'Ottavio. D'Ottavio explains the psychological pull of "mere-exposure effect" and how to implement a social retargeting strategy, as well as offering tips on errors to avoid.
Full Story: MarketingProfs (free registration) (4/1) 
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NAWBO (R) News
When you share content showcasing your offerings, you can raise awareness of your business. Learn how posts, stories and live video on Facebook and Instagram can help. Also, learn how the Business Suite can help you simply access and manage the tools you need to succeed across Facebook and Instagram. This event is featured through NAWBO’s partnership with Facebook to propel female entrepreneurs and will feature Elise Fuller, Small Business Community Engagement Coordinator at Facebook/Instagram.

REGISTER HERE for the NAWBO Huddle: Raise Awareness of Your Business with Facebook & Instagram at noon ET Thursday, April 22. A recording of the webinar will be sent to all registrants. Registration is open to members and nonmembers. This opportunity is hosted in the NAWBO Institute for Entrepreneurial Development. Explore additional resources in the Institute HERE.
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Technology
When giving a presentation remotely, invest in a good camera, a quality headset or microphone, and figure out how you'll organize your notes or script, writes Lara Hogan. She shares what equipment she uses, how much it costs and why you need a backup plan when giving a live presentation with slides.
Full Story: Lara Hogan (4/2) 
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Best Practices
Tax law encourages entrepreneurship with hundreds of deductions and incentives, accountant Tom Wheelwright writes. Business owners realize the best tax savings with limited liability companies, S Corps and C Corps, as well as through advice from bookkeepers and accountants, Wheelwright notes.
Full Story: Entrepreneur (4/5) 
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Small business audits by the IRS will jump 50% this year, the agency says. Financial firm founder Giuseppe Salamone shares five tips to avoid an audit, such as on-time filing, paying close attention to independent contractors and triple-checking calculations.
Full Story: Miami Herald (tiered subscription model) (4/6) 
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Policy Update
Almost 3 million more business owners claimed the qualified business income, or pass-through, deduction on their tax returns for 2019 than the previous year. Applying the 20% deduction requires careful planning, says Steven Rosenthal of the Urban-Brookings Tax Policy Center.
Full Story: CNBC (3/31) 
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Lifestyle
Self-care requires scheduling, self-preparation and the willingness to set boundaries with family, friends and co-workers as needed, writes Elizabeth Grace Saunders. "To have time for self-care, you'll need to advocate for yourself and your needs to make it happen," she writes.
Full Story: Harvard Business Review (tiered subscription model) (4/1) 
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Let things taste of what they are.
Alice Waters,
chef, restaurateur, activist, writer
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About NAWBO®
Founded in 1975, NAWBO® propels women entrepreneurs into economic, social and political spheres of power worldwide. Thirty years later, NAWBO® is still the only organization that solely represents the interest of women entrepreneurs in all industries. NAWBO® and Women Mean Business™ are registered trademarks of the National Association of Women Business Owners. For more information, please visit www.nawbo.org.
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