Company Profile: The Kismet Life is a boutique consulting and vision coaching firm, owned and led by the outstanding Lachelle Binion.
Since the word kismet means destiny/fate and it’s The Kismet Life’s belief that “when you align your passion with your purpose, you will manifest your destiny.”
The consulting firm works with social entrepreneurs, small businesses, non-profit organizations and individuals looking for direction on which entrepreneurial path to take in life.
Kyshira Moffett: You work with many new nonprofit founders. What’s the biggest mistakes new founder tend to make?
Lachelle Binion: People underestimate the time and dedication it takes to run a business. Most people that are looking to start a nonprofit are “visionaries”; they are committed to a cause and that is what they tend to focus on, but what they fail to realize is that running a nonprofit is just like running a business. You have understand the breakdown of financial statements and grant writing. You will have sleepless nights and 40 hour work weeks no longer exists. Basically, they have to be able to look beyond the vision for it to truly work.
KM: How important is ethics when launching a new business?
LB: Without ethics, you basically have little to go on. Your word and what you stand for will take you far in business or keep you stagnant.
KM: What tips do you have for those who are ready to seek funding for their business, whether that’s through a grant or venture capital?
LB: Research! Research! Research! I have had people come to me with suggestions for funding they are seeking and it doesn’t align with the mission, vision and direction of the organization. It’s important that you research who the funder is, what they’ve funded in past, what the average amount funded has been and the probability that they will fund you. Google is there for a reason, use it!
In addition, remember quality over quantity. Don’t just chase money because it’s there.
Time is valuable so if you are wasting it chasing five $500 funding opportunities when you can put forth that effort to go after quality opportunities to bring a bigger return on your investment. Think of it like you think of shoes, you can have a large number of cheap shoes in your closet that you can only get one or two uses out of or you can invest in three great quality shoes that you can wear forever.
KM: Why is it important to have sisterhood among entrepreneurial women? How did you find your support group?
LB: Without my sisterhood or what I call my “purpose circle” I don’t know where I would be.
There is something about having the support of other women that propels and motivates you to keep moving closer to your dreams.
With me, I’m blessed to come from an amazing family that have birthed amazing women and I have a strong support system with them,I have been friends with my best friends for over twenty years and not to mention my “brat pack” of younger “besties” and other phenomenal women that keep me on my toes. It’s truly a full circle of love. I believe that they are in my life because I don’t close myself off to allowing new people into my circle. We can learn and grow from anyone, we just have to be willing to let people in to teach us.
KM: Where do you envision The Kismet Life going in the future?
LB: I would like to see The Kismet Life growing worldwide. My dream is to travel the world speaking about the importance of purpose. I used to always say a prayer asking God to plant seeds in me so that I can plant them in others and help them grow. That’s what I want for The Kismet Life, for us to continue to grow so that we can help others grow in return.
KM: What advice do you have for those looking who are looking to walk in their purpose?
LB: The single most important advice I have for those looking to walk in purpose is:
You have to understand that your purpose isn’t just about you, it’s about the people you will impact and the changes you will make by walking in it. When you grasp that, then you are ready to walk in purpose.