Posted April 11, 2024

I recently attended the Black Enterprise Women in Power Summit in Las Vegas. Now I know that my opinion of Vegas is not usually popular (tacky, extra, tragic…), but as a new entrepreneur in the coaching space, one thing has become crystal clear to me. Black women are killing it! And they are doing the work. Black women are showing up in higher education, hanging out entrepreneurial shingles, and making strides in corporate America.

According to Nikki Katz, despite Black women only making up 12.7% of the female population in the country, they consistently make up over 50% of the number of Black people who receive postsecondary degrees[1]. They are also seeking personal development through coaching, and I am here for it!

The summit brought together a beautiful mosaic of women (mostly Black/African American, but I also registered a sprinkling of White and Latina ladies, and maybe 20 men) for three days of awards and honors, sessions on everything from physical to fiscal well-being, spirituality, and camaraderie. There was laughter and tears, celebration and reckoning. Most energizing were the keynote speeches delivered by the honorees! One such convocation was a fireside chat with Thasunda Brown Duckett, President & CEO of TIAA.

Born into humble economic circumstances, Thasunda, through hard work, astuteness, authenticity, and self-awareness, rose to become one of only 2 Black female CEOs in the US. She spoke of the times she almost missed opportunities because of her imposter syndrome, she opined about the need to avoid the trap of showing up unprepared. Most resonantly (in my opinion) was her admonition to live one’s life as a diversified portfolio! Again, I was all ears as she broke it down for those of us in the cheap seats.

You CAN Have it All – Just Not All at Once

Just as diversification is key to a successful investment portfolio, incorporating diversity into our lives serves as a strategy for resilience and fulfillment. Much like investing in a variety of assets mitigates risk and maximizes returns, embracing diversity across different aspects of life can yield manifold benefits.

Mitigating Risk and Enhancing Resilience

In the realm of investments, concentrating all resources into one asset exposes us to significant risk. Similarly, limiting our experiences and interactions to a narrow scope deprives us of the resilience needed to navigate life's inevitable challenges. By diversifying our pursuits, relationships, and interests, we spread risk and increase our capacity to adapt to unforeseen circumstances. Just as a diversified investment portfolio weathers market fluctuations, a diverse life equips us with the flexibility and resilience to thrive amidst adversity.

Maximizing Opportunities for Growth and Learning

A diversified portfolio offers exposure to a wide array of investment opportunities, maximizing potential returns. Likewise, a diverse life allows us to learn and grow from a multitude of experiences. Whether it's exploring different cultures, pursuing varied hobbies, or engaging with people from diverse backgrounds, each encounter presents a chance for personal enrichment and self-discovery. Embracing diversity in all its forms expands the horizons of our knowledge and understanding, enriching our lives with new perspectives and insights.

Cultivating Adaptability and Innovation

In the ever-evolving landscape of investments, adaptability is key to capitalizing on emerging trends and opportunities. Similarly, embracing diversity fosters adaptability and innovation by exposing us to alternative viewpoints and approaches. Interacting with individuals from diverse backgrounds stimulates creativity and problem-solving skills, enabling us to thrive in dynamic and uncertain environments. Thasunda regaled us with a story about when she was once invited to be the only female on a fishing trip with an all-white group of senior work colleagues who had fished together for years. She declined and suggested they go for sushi instead. A strategic move that was well received and allowed her access to this particular old-boy network. Just as a diversified investment portfolio positions us to capitalize on market shifts, a diverse life equips us with the agility and ingenuity to navigate life's twists and turns. Thasunda was agile in this instance.

Achieving a Balanced and Fulfilling Life

A well-diversified investment portfolio is characterized by balance, with assets strategically allocated to achieve long-term goals. Similarly, a diverse life encompasses a balance of personal, professional, and social pursuits, each contributing to overall well-being and fulfillment. By investing in diverse experiences, relationships, and passions, we cultivate a sense of harmony and wholeness that transcends any single dimension of life. Embracing diversity allows us to lead lives that are rich, meaningful, and aligned with our values and aspirations.

Investment Starts at Home

Just as a diversified investment portfolio is essential for financial success, living a diversified life is integral to personal growth and fulfillment. By embracing diversity across various dimensions of life, we enhance resilience, maximize opportunities for learning and innovation, and achieve a balanced and fulfilling existence. This we owe to ourselves.

In my travels as a coach, it is my responsibility to help my clients approach life with the same mindset as a prudent investor, diversifying our experiences, relationships, and pursuits to create a life that is vibrant, resilient, and deeply rewarding.  Fear is typically what impedes us. Fear of failure and more tragically, fear of success. 

Contact me at [email protected] and let’s diversify your portfolio of life.

[1] Katz, Nikki. "Black Women Are the Most Educated Group in the U.S." ThoughtCo, Apr. 5, 2023, thoughtco.com/black-women-most-educated-group-us-4048763.