Congratulations to the Winner of the Boutique Mix Grand Opening Sweepstakes

Congratulations to Mar, winner of the Boutique Mix Grand Opening Sweepstakes. I hope you enjoy your stunning hand-painted bangle. Please send your mailing address to boutique-mix@hotmail.com. Stay tuned for the next contest coming up SOON!!!!

Prize - 1 hand-painted bangle (ARV $20)

Boutique Mix Mother's Day Sale

Shop for you!

Shop for Mom!

Shop for anyone on your list!

10% off all items in the Store plus Free Ground Shipping!!

Sale ends May 14, 2008!!!

Shop the Boutique Mix Mother's Day Sale Right Here.

Essence Magazine's Golden Rules for Building Wealth and Side Hustles

Most people are interested in improving their financial situation --- via working several jobs, opening up a retirement account, buying a home, paying off debt or otherwise. Essence Magazine offers these 3 guideposts for your road to wealth.

Invest in real estate.
Sure, the market is shaky, with the number of foreclosures rising every day. But the smart investor buys when everyone else runs away. Buying and holding, leasing options, purchasing mobile homes, and wholesaling are just a few of the many ways to get into real estate. Learn how investors are heating things up in this cool environment. (See “Get Rich in Real Estate,” November 2007.)

Survey the stock market.
Discretionary income is what’s left after you pay fixed expenses like your rent or mortgage, car note and insurance. You have the flexibility to decide how much of it goes toward food, entertainment, hair care and so on. Use that spending muscle to pump up your portfolio. For instance, forgo the Friday dinners at Red Lobster and buy stock in its corporate parent, Darden Restaurants, Inc. (DRI), instead. Stocks averaged returns of 11.94 percent annually between 1985 and 2005, according to Morningstar, an investment research firm. That’s higher than the Lotto, a savings club and certainly a savings account. Start by investing small amounts monthly through plans at Sharebuilder.com.

Build a business.
Start a side hustle that you really enjoy. If you love to cook, write or teach, it’s easy to parlay those skills into becoming a caterer, an online blogger or a tutor. Log on to Powerhomebiz.com and enter “part-time businesses” in the search box for information on side hustles. You don’t have to start your enterprise on a grand scale, but if you’re going to do it, give it the full attention it deserves. Too often we get a bad rep for not minding our businesses. Be sure to have excellent customer service, gain access to adequate financial resources, and watch the bottom line. Read “The Entrepreneur’s Start-up Guide” (February 2008) for inspiration.

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Essence Magazine's Four Steps to Entrepreneurship

Step 1: FOCUS ON FULFILLING A NEED

Start with something you are passionate about, and know that your business success isn’t limited by your education or experience. Desire, willpower and research go a long way. Downsized twice after 30 years in corporate America, Adrienne Simpson had been unemployed and clinically depressed for a year when she decided to launch Smooth Mooove Senior Relocation Services, Inc. (wemoveseniors.com), out of her home in October 2002.

Simpson got the idea after moving her mother from Georgia to Michigan. “My plan was to put everything in a truck and send her on her way,” she recalls. But her mom walked Simpson through her home and said, “Here’s what’s going to happen. I’m selling this, keeping that, and I am giving this away.” A certified trucker, Simpson initially planned to run her business as a packing service for senior citizens. But once she realized seniors’ needs, she shifted gears.

With revenues of $400,000, her Stone Mountain, Georgia–based firm specializes in relocating seniors, providing value-added services such as antiques appraisal, estate sales and transport of clients and their pets.

Step 2: TACKLE THE PROPOSAL

A weekend visit to Las Vegas, Nevada, in April 2006 changed Vani Kumar’s life. Not a big-time gambler, she turned 40 bucks into more than a quarter million dollars at the slot machines. Kumar decided to use her winnings to open The Suit Closet (thesuitcloset.com), a Los Angeles boutique housing more than 1,000 brand-name women’s suits. She didn’t go into the retail business by chance.

While studying apparel manufacturing and management at the Fashion Institute of Design and Merchandising (FIDM), Kumar had worked on a business plan for the company. And since graduating in June 2005 she had been shopping around for bank financing. But it wasn’t until she became a jackpot winner, hitting $286,656 in Vegas, that she had the necessary seed capital. “The ironic thing is that after taxes, it ended up being just $200 off what I had projected in my business plan,” says Kumar, whose plan also calls for expanding outlets nationwide within the next five years and adding footwear and accessories to the mix. “It was like divine intervention.”

Now the 26-year-old entrepreneur is offering women, from high school graduates to corporate execs, something that men have always had—convenient choices in their work wardrobes. Kumar likens the business model for The Suit Closet to the national apparel chain Men’s Wearhouse.

Step 3: ACCESS START-UP CAPITAL

You need money to maintain your business and persevere through the lean times. Simpson of Smooth Mooove Senior Relocation Services started with $3,000 in personal savings as well as credit cards. In addition, she went to SCORE, SBA and Women’s Economic Development Agency for classes and help. She was fortunate to later receive a $20,000 microloan from an SBA-backed lender. In 2005 she was a national grand prize winner of the Make Mine a Million $ Business Contest (makemineamillion.org) for women entrepreneurs, sponsored by the Count Me In for Women’s Economic Independence organization and OPEN from American Express.

“I presented to an audience of 1,000, who voted on the winning entries,” explains the 52-year-old single mom. Simpson won a $45,000 loan and a year of business coaching. After she spent five years in business, her company has seen significant growth, covers the entire Southeast, and employs a staff of about 20. A franchise model is currently in the works. Next year Simpson believes the business is poised to make $1 million.

Step 4: PROMOTE YOUR BUSINESS

Marketing, aka, promoting, is something you should do everywhere you go. Some tips:Know your message. “Understand what makes you special. And it isn’t always about the product. It could be about the quality of the service or the consultative nature of what you’re doing,” said Susan Sobbott, president of OPEN from American Express, at the 2007 Make Mine a Million $ Business Event in New York. Sell it like you know it, and they’ll buy it in droves.

Create marketing materials. Attend trade shows and conferences and bring glossy postcards, letterhead, invoices and so on with a slogan or one-sentence business description and your contact information. Also include product news inserts, customer testimonials or an event mini Web site using software programs such as Microsoft Office Publisher or FrontPage. Get some press.

In her book How to Be an Entrepreneur and Keep Your Sanity (Amber Books), Paula McCoy Pinderhughes suggests reaching out to local newspapers, radio and television stations. Promote yourself as an expert by sending news releases, press kits and videos announcing your next appearance, speech or the launch of a new part of your business. Check the mastheads of publications and create relationships with appropriate editors.

Excerpted from Essence Magazine. Read more of this article, and "Sister Icon & Go-Getter" Tyra Banks in the new issue of Essence Magazine.

Side Hustles for the savvy recessionista - Are you in the DC Metro Area and love to shop with your fabulous girlfriends, but don’t want to go the mall or log onto your computer? Been working 7 days a week and don’t have time to go shopping?

Host a wine and cheese shopping party with Boutique Mix.

You may host the party at your place or at the Boutique. All you have to do is invite as many people as you can to ensure a great turnout.

A great mix of friends equals a fabulous time for fashionistas shopping in a comfortable and relaxed setting!!!.

Gather around with your circle of fabulous recessionistas for an afternoon of dresses, purses, jeans, jewelry, belts, candles and other sassy fashion accessories with Boutique Mix.

Shop your hearts out!!!

Email boutique-mix@hotmail.com for more details and learn about the hostess incentives.

Arrange a time, sit back, relax, and enjoy a cozy, intimate and personalized shopping event.

CLICK HERE TO SHOP Boutique Mix!!

"Don’t be into trends. Don’t make fashion own you, but you decide what you are, what you want to express by the way you dress and the way to live." - Gianni Versace

“Fashion is not something that exists in dresses only. Fashion is in the sky, in the street, fashion has to do with ideas, the way we live, what is happening.”
- Coco Chanel

"Delete the negative; accentuate the positive!"
- Donna Karan

"A Girl Should Be Two Things: Classy and Fabulous." -Coco Chanel

Investment Tips for Small Biz Owners and others

All small biz owners face financial challenges involving investment and funding. No matter how much money we make or lose from our business we should always try to find investment vehicles and make wise investment choices. As we grow and diversify our businesses we should maintain realistic financial goals and objectives.

Below are Essence Magazine's five ways to invest wisely.

All of us start with the same level of financial knowledge—that is to say, with none,” says Eric Tyson, financial counselor, columnist and author of Investing for Dummies (Wiley). What’s important is to be an informed investor and to protect your investments from as much unnecessary risk as possible. A lot of erroneous information about finances exists, Tyson says. But by following these principles and strategies, you can join the ranks of successful investors.

1. Do your homework. “People flounder into lousy investments because they don’t understand how something works,” Tyson says. Check your local library for books on investing, or visit such informative Web sites as smartmoney.com, fool.com, and CNNmoney.com. Study the basics until you are knowledgeable about investment types and terms. Seek out what works best for your financial goals.

2. Spread out your money. Investing can be full of uncertainty: Stock prices fluctuate daily. By allocating your money to diverse investments, you can help buffer the risk. For example, if all your funds are tied to your employer’s company stock and your company faces scandal or bankruptcy, your stock will suffer. Tyson advises placing your investment money in companies of various sizes, international markets and different industries to minimize the risk.

3. Make your own choices. Once you understand the basics and match what you learned to your financial goals, then decide if you need a financial adviser. She can help guide you, but you should make and monitor your own choices. “The more you learn, the more confident you get with making decisions on your own,” Tyson explains.

As you interview potential advisers, be sure to ask how they make their money. Advisers may get commissions by pushing certain products to clients or may get paid for referrals. Ask if he works on a commission or fee basis or if he is affiliated with a mutual fund or a bank. Check advisers’ credentials at cfp.net (Certified Financial Planner) or napfa.org (National Association of Personal Financial Advisors).

4. Watch for fees. Mutual funds and stocks have ongoing operating expenses, which are charged as an annual fee (typically a percentage of your investment). Know which fee amounts are considered high or excessive for your investment type, and beware of those that charge commissions. For more conservative funds, annual fees should be less than 0.5 percent. For actively managed mutual funds, annual fees over 1 percent for domestic and 11⁄4 percent for foreign are considered excessive. You’ll make little profit on returns if you’re paying a boatload of fees.

5. Pick and stick. Between TV analysts giving stock market updates almost every five minutes and doomsday headlines, investment news can send you into a frenzy. It’s easy “to get caught up in the noise,” Tyson cautions, “but it’s important to keep a level head.” Select your products and then step back.

TIP: Look for Tax-Free Products
Some funds charge additional taxes and commissions should you decide to make a change or bail out of your investment choices altogether. If you trade or change your funds or stocks within 12 months, you could be taxed at a higher rate and have to pay tax on any amount gained from the sale of your investments. In addition, you’ll typically have to pay taxes on any interest you earn. So look for tax-free or tax-friendly stocks, funds and bonds.

Excerpted from Essence Magazine.

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