Georgina Fihosy shares top tips to help small businesses flourish
Cards, cashflow, how to build a creative business and overcoming your fears of public speaking were the truths revealed by AfroTouch Design founder Georgina Fihosy at three recent networking events.
After being asked to address attendees at the monthly Precious Nights evening at the British Library, Georgina followed up by sharing her tips for trade show exhibiting at the recent PG Live exhibitors’ meeting, and the same day made a presentation to the GCA’s Dragons Speed Dating as part in the all-female panel which paid tribute to International Women’s Day.
As a pharmacist who also runs her own publishing company offering diverse cards, stationery and gifts, as well as raising her young family – and she’s a GCA council member too – for the Precious Nights event Georgina was asked to share her perspective on how to build and grow a creative business.
“As a woman who stands at the crossroads of having a corporate career, entrepreneurial spirit, and unwavering advocacy for diversity and inclusion, I’m often asked to speak on how I manage it all,” she told PG Buzz, “so I frequently talk about finding harmony in the hustle, my five-step framework to balancing life and ambition.
“In simple steps this involves setting clear priorities and boundaries, efficient time management, communicating openly and often, seeking support and automation, and, most notably, allowing time for self-care. Living out your entrepreneurial dreams doesn’t require sacrificing your day job or family life!”
Part of the Precious Awards, magazine, and online community, the monthly networking event is run by the platform for women of colour in business to learn, share, network and build relationships, with the conversations hosted by the organisation’s founder Foluke Akinlose mbe.
And after the event, where AfroTouch was on the panel with Adaku Parker, founder of Dovetailed London fashion brand, and Anu Obe, who runs To All My Black Girls hair extensions website, Foluke told Georgina: “It was a brilliant panel to kick off our 2024 season. Thank you for sharing your entrepreneurial journey so openly and honestly – so many lessons and tips. You were wonderful!”
At the Dragons session, cards and cashflow was Georgina’s subject. She explained to the many newbies attending to what she called have their “elevator pitch” ready to boost their greeting card designs to retailers, as well as how publishers can have multiple income streams to support their business growth, from building an online presence through e-commerce platforms to seeking wholesale opportunities either directly or via brokerage, right through to licensing and corporate gifting initiatives.
Quoting entrepreneur and multi-millionaire Sir Richard Branson’s mantra of “never take your eye off the cash flow because it’s the lifeblood of business”, she said that keeping on top of cash flow is critical for the sustainability and growth of a business.
Georgina said: “We all strive to have enough money in our business to cover our expenses, pay ourselves and future teams, and pursue expansion and growth opportunities. However, as creatives and often without any real business background, understanding the numbers can be challenging. Still, just as we’ve invested in the creative process and learned how to navigate the design process, it’s equally important to invest time and energy into understanding the financials.
“People don’t like to talk about money and, even when we find ourselves in sticky financial situations, it’s easy to bury our heads in the sand. Sadly, the impact of that can lead to stress, overwhelm and a feeling of embarrassment.
“On the face of it, we could be making five, six, or even seven figures but, when the outgoing is more than what’s coming in, it’s a very different internal story. Therefore, unless we take some time to know our numbers, we won’t understand what we must do to bring ourselves out of any potential cash flow problem.
“One of the things I do is set aside time each week to look at the numbers, known as Financial Fridays, where I take one or two hours to access the books.”
