In a recent session of the 2025 ANHC PRO Business Mastery Series, industry expert and business coach Miki Wright delivered a powerful message on the financial challenges Black female entrepreneurs face. Despite being the fastest-growing group of entrepreneurs, Black women continue to receive the least funding and earn significantly less than their counterparts. But as Miki emphasized, this doesn’t have to be our story. With the right strategies, business owners can take control of their financial futures, build sustainable businesses, and create wealth.

The Wealth Gap in Entrepreneurship

Miki opened the discussion with a sobering reality check: Black women start businesses at higher rates than any other demographic, yet they receive less than 1% of venture capital funding. Even when funding increased briefly post-2020, it quickly dropped below pre-pandemic levels.

Additionally, the earnings gap persists in entrepreneurship. Women already make 82 cents for every dollar a man makes, but Black women make just 64 cents. And the situation doesn’t improve much when we become business owners—most Black women-owned businesses generate an average of just $24,000 in annual revenue, significantly lower than their white counterparts.

The Root of the Problem: Underpricing and Lack of Business Infrastructure

One of the key takeaways from Miki’s presentation was the role pricing plays in these disparities. Many business owners underprice their services due to fear, lack of confidence, or simply not knowing what to charge. Even more concerning is that many entrepreneurs unknowingly leave thousands of dollars on the table each year by discounting services and giving away free add-ons.

Miki broke it down with a simple calculation:

If you undercharge by just $5 per client and see five clients a day, that’s $25 a day.
Multiply that by five days a week, and that’s $125 a week.
Over the course of a year, that’s $12,000 in lost revenue—and that’s on the conservative end!

By simply charging what you’re worth and eliminating unnecessary discounts, you can significantly boost your income without working harder.

The Fastest Way to Increase Profits

To build a financially stable business, Miki recommended focusing on three main areas:

Stop Discounting – Charge your full rate and don’t throw in free services unless it’s a deliberate marketing strategy.
Raise Prices with Confidence – Every other business adjusts their prices based on rising costs. As a business owner, you should too.
Secure Business Funding – Lack of capital is one of the main reasons businesses fail. Whether it’s a loan, grants, or a revenue-based funding model, securing financial backing can provide the cushion needed to grow and scale successfully.

Get the Support You Need

Many beauty professionals struggle with pricing, marketing, and financial planning because they don’t have a mentor or a clear strategy. That’s where Miki Wright comes in. With over 15 years of experience coaching business owners, Miki specializes in helping entrepreneurs accelerate their profits in 90 days or less.

Claim Your Free Gift!

Miki is offering a free gift to help salon professionals reclaim the revenue they may be leaving on the table. Download her FREE guide at http://mikiwright.com/grow to discover how most salons are missing out on $25,000 annually—and how you can turn that around.

Get More Clients with Miki’s E-Book

Looking for a marketing strategy that works? Miki’s e-book, “Get More Clients & Make More Money Fast,” is available for just $7! This guide provides actionable steps to increase client retention and revenue. Grab your copy here: https://payhip.com/b/ovKGl.

Book a Free Profit Plan Session

If you’re tired of working hard but not seeing the financial results you deserve, it’s time to take action. Schedule a free Profit Plan Session with Miki Wright today at mikiwright.com/profit15.

Don’t let underpricing, lack of funding, or business uncertainty hold you back. Take control of your financial future and start building a profitable, sustainable business today!