Small Business
Small Business Labor Shortage – Forbes
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Woman Restaurant Owner With Waiting Staff
The Great Resignation has made attracting and retaining employees a top priority. After health insurance, providing retirement benefits is the second most frequently offered benefit to attract talent. State and city regulation is prompting more interest in 401(k) plans, too! More than one-third of small businesses that do not currently offer 401(k) plans expect to within 12 months.
A 401(k) retirement plan is also a way to take care of employees’ financial wellness and provide a tax benefit to companies and their employees. But legacy 401(k) providers avoid marketing to the smallest businesses because the market isn’t very profitable. Yet, the vast majority of companies have fewer than 20 employees.
Penelope is a 401(k) platform that gives small businesses an affordable and east-to-use way to provide retirement benefits. It is helping small businesses navigate the challenges of the Great Resignation. At the same time, its CEO and founder, Jean Smart, manages her own challenges.
Jean Smart, CEO and founder at Penelope—a 401(k) retirement benefits platform for small businesses
Smart is a founding member of Chief, a private network for influential women leaders. She became part of a peer-advisory group with female founders and corporate executives who have similar interests and challenges and help each other problem-solve. One founder in Smart’s peer group has already achieved unicorn status—a billion-dollar-plus valuation.
Smart had worked in companies like Citi, Charles Schwab, and TD Ameritrade, and at the time, UBS. She worked on institutional employee benefits, such as 401(k) plans, employee stock options, and financial wellness. Inspired by the female founders in her Chief group, Smart started developing a business concept of her own.
Smart, the daughter of Korean immigrants who own a grocery store and restaurant, saw how her parents sacrificed to provide for their children and employees while neglecting to save for their retirement. Not saving has left them vulnerable in their later years. «With one in four Americans having no retirement savings, my parents are an all too familiar story in the U.S.—equal parts inspiration and cautionary tale,» said Smart.
«I’m a Gen-Xer and I’ve heard my entire life that we’re going to run out of Social Security,» said Smart. For many Americans, Social Security provides an essential source of income in retirement. But its money is running out. Projections say that starting in 2034; the Social Security Administration will reduce retirement benefits.
Smart’s personal and professional background made her think she was the right person to tackle this problem.
«I wanted to do something around fintech, education, and inclusive capital,» said Smart. She wanted to dispel the notion that there was a quick way of getting rich. Investing regularly in a 401(k) was the way to build a nest egg for retirement. «The reality is it takes generations to build wealth,» she sighed. «It doesn’t happen overnight, and it takes people working 20, 30, 40 years before they have money to pass on [to loved ones].» She wanted to create a way to set it and forget it.
Businesses with fewer than 20 employees—the vast majority—of small businesses need help, thought Smart. Many of these businesses are owned by women, minorities, and immigrants. Fintech streamlined processes, allowed her to simplify paperwork, and helped her cut costs by using a self-serve business model, making it affordable for small businesses to provide retirement benefits for their employees.
«It’s hard making things simple,» said Smart. «There are 50 to 60 thousand funds to choose from. We offer 10. The trade-off is there isn’t customization.» Through a low-cost subscription model, Penelope’s technology platform automates employee investing, streamlines cost and paperwork, provides practical savings tools for employees, and offers the choice of Pooled Employer Plans (PEP), traditional 401(k)s and Solo 401(k)s.
Penelope is an intuitive, cloud-based 401(k) platform, which launched in January. There are no 30-to-40 page documents with complicated jargon, and the content is brief, to the point, and uses plain English. People have different learning styles, so content is provided as text and FinTok videos.
Timing can be everything. More and more states and cities are mandating that businesses provide retirement benefits. California, Oregon, Illinois, Maryland, Colorado, Connecticut, New York City, New Jersey, Virginia, Seattle, and Maine do so. Rules and regulations vary, depending on where your business operates.
«During the Great Resignation, we’re all fighting to get the best people,» said Smart. She relies on referrals, and, fortunately, she is well connected.
Her employees could undoubtedly make more money working in larger companies as a startup. But Smart emphasizes the company’s purpose. «The fact that we are mission-based is very attractive,» she said. «It’s really striking a chord, not just with professionals in their 20s and 30s, but also their 40s, 50s and even their 80s. I’ve got five generations working with me,» Smart proudly said.
She recruited Ted Benna, widely known as the «father of the 401(k),» as an advisor to Penelope. «I’ve helped a lot of small businesses in my lifetime, as well as running my own business, and for many of them, the idea of offering a 401(k) was out of reach, expensive and confusing, filled with jargon and too time-consuming,» said Benna. «Penelope provides plans that are easier to understand and economically make sense for small businesses and startups.»
Shifting from a well-resourced mindset to a resource-constrained startup has been a steep learning curve for Smart. «You’re working with a blank slate,» she said. «You make many mistakes. You have to be open.” You have to be an agile leader, and there are ways to improve your adaptability. Once you have, «it’s thrilling.»
Penelope has successfully raised $2.1 million in pre-seed fundraising led by Slauson & Co. Additional investors include Amplify LA, Black Jays and executives from Wells Fargo, Citigroup and US Bank. “Saving for retirement is an essential tool for building wealth and financial equality,” said Austin Clements, Managing Partner at Slauson & Co. “Penelope fundamentally changes the way small business owners and employees invest in themselves, their families and their communities.”
How are you taking advantage of your experience and market trends to launch or re-calibrate your business?
Leadership
Bridging the Wealth Gap Through Government Contracts: The Vision of Dr. Karwanna D. Irving
Dr. Karwanna D. Irving is a transformational speaker, author, and nationally recognized business coach who has built her career on helping six-figure entrepreneurs scale to seven figures by leveraging one of the most powerful yet underutilized revenue streams available: government contracts. With more than twenty years of experience spanning entrepreneurship, leadership development, and strategic growth, Dr. Irving has positioned herself as a trusted authority in teaching business owners how to successfully sell to the world’s largest buyer, the U.S. government.
Throughout her career, Dr. Irving has empowered more than7,000 entrepreneurs, executives, and business leaders to move beyond traditional income ceilings and step into sustainable, scalable growth. Her approach combines strategic clarity, practical execution, and mindset transformation, allowing her clients to confidently pursue lucrative public sector opportunities without sacrificing their vision or values. Known for translating complex government contracting processes into clear, actionable steps, she has helped countless businesses expand their reach, increase profitability, and create long-term financial stability.
Dr. Irving’s impact and leadership have been widely recognized. She is a recipient of the 2024 Stevie Awards in Business and the prestigious 2025 Enterprising Woman Award, honoring her influence as both a business strategist and a champion for economic equity. Her work has been featured in Success Magazine, and the San Francisco Business Times named her firm among the Top 100 Fastest Growing Bay Area Private Companies. Further solidifying her standing as an industry leader, Dr. Irving’s company ranked #1680 on the Inc. 5000 list of 2025 Fastest Growing Private Companies in America.
Beyond accolades, Dr. Irving is deeply committed to bridging the wealth gap by equipping six-figure business owners with the knowledge and confidence needed to unlock multi-million-dollar opportunities. She believes access to government contracts can be transformative not only for individual entrepreneurs, but for families, communities, and future generations. Through speaking engagements, coaching programs, and educational challenges, Dr. Irving continues to inspire business owners to think bigger, execute smarter, and build enterprises that create lasting impact.
Special thanks to Dr. Karwanna’s Sponsor
San Francisco African American Chamber of Commerce
Website: www.sfaacc.org
What’s New: Major Momentum and Opportunities Emerging in the Last Three Months
Over the past three months, the momentum within my business has been nothing short of incredible, and I am excited about the opportunities we are now opening for business owners at a higher level. One of the most significant developments is the re-launch of our five-day challenge designed specifically to help business owners, entrepreneurs, and high-level executives add an additional six to seven figures by securing lucrative government contracts. This initiative was created in response to the growing demand from entrepreneurs who are ready to scale but are hitting a ceiling in the private sector.
What makes this challenge different is its focus on real strategies, real opportunities, and real execution. Participants are not just learning theory. They are gaining clarity on how government agencies buy, how to position their businesses correctly, and how to confidently pursue contracts that align with their existing services. In a time when many businesses are experiencing uncertainty in traditional markets, government contracting offers stability, consistency, and long-term growth, and this challenge meets business owners exactly where they are.
Another exciting development is the expansion of our educational framework to support more advanced entrepreneurs who are already earning six figures and want to transition into seven-figure government opportunities. We are seeing an increase in executives and established founders who recognize that government contracts are not just an add-on but a strategic growth pillar. This evolution reflects our commitment to meeting our community at every stage of growth while continuing to elevate the conversation around wealth creation, access, and sustainability.
For those ready to take advantage of these opportunities, the upcoming five-day challenge is the perfect entry point. Business owners can learn more and secure their spot by visiting ContractsToMillions.com, where the next level of scaling begins.
Looking Ahead: What’s Coming in the Next Few Months
In the coming months, my focus remains on expanding access to education, strategy, and execution around government contracting at scale. The centerpiece of this effort is our upcoming five-day challenge, which will serve as both an intensive learning experience and a catalyst for long-term growth. This challenge is designed for business owners, entrepreneurs, and high-level executives who are serious about adding six to seven figures in revenue and are ready to move with intention.
During the challenge, participants will gain insight into how government agencies source vendors, how to align their current offerings with public sector demand, and how to build credibility quickly in a highly competitive space. We will also address mindset barriers that often prevent entrepreneurs from pursuing government contracts, such as fear, misinformation, or the belief that these opportunities are out of reach. My goal is to demystify the process and empower participants with clarity and confidence.
Beyond the challenge itself, this initiative sets the stage for deeper engagement and continued support for those ready to fully integrate government contracting into their business model. The upcoming months will also include expanded resources, strategic partnerships, and advanced training opportunities designed to help entrepreneurs move from learning to implementation without unnecessary delays.
For anyone who knows they are capable of more and is ready to pursue stable, scalable revenue, now is the time. The upcoming five-day challenge provides a powerful starting point for transforming how business owners think about growth and opportunity. More details and registration information can be found at ContractsToMillions.com.
Contact Information
- Email: karwanna1@gmail.com
- Website: www.ShesGotGoals.com
- Facebook: https://facebook.com/IAMKARWANNAD
- Instagram: @karwannadspeaks
- LinkedIn: https://linkedin.com/in/karwannadspeaks/
Small Business
From Book to Bank: How to Turn Your Story Into a 6-Figure Business
Everyone wants to write a book. But let’s be real—most people don’t make a dime from it. They sell 100 copies, get a few likes, and then go broke promoting it. Cute, but not profitable.
If you’re writing a book just to say, “I’m an author,” that’s fine. But if you want your book to fund your lifestyle, grow your brand, and bring in consistent income, then keep reading.
1. Stop Chasing Sales—Chase Strategy
Forget selling copies one by one. Smart authors use their book to lead people to something bigger—like coaching, consulting, speaking, or premium products. Your book is the appetizer. The real money? That’s in the main course.
2. Build a Business Around Your Book
Don’t just sell a story—sell a system. Create a course, a group program, or a done-for-you service tied to your book’s message. If your book solves a problem, people will pay you to solve it faster.
3. Use Your Book as a Funnel
Your book should always point somewhere—like a landing page, calendar link, or private community. This is how readers become leads, and leads become clients.
4. Get on Stages & in Rooms
Books open doors. Period. If you position it right, you’ll land media interviews, get on podcasts, and get paid to speak. Even if you’re not famous—your book gives you authority.
Bottom line? Books don’t make you rich. Business does. But a well-positioned book can be the key to building a six-figure (or more) empire.
Featured
Transforming Your Expertise into Income
By Dr. Stevii Aisha Mills

Let’s explore an empowering concept: how to turn your knowledge and skills into a profitable income stream. The idea behind “Click To Cash” is simple yet profound: you can leverage your expertise to create value for others, and in return, earn income.
Recognizing Your Unique Value
We often underestimate the power of our experiences and knowledge. Whether it’s skills developed in your career, hobbies you’re passionate about, or life lessons learned, you possess unique insights that others may find valuable. Understanding this is the first step toward monetizing your expertise.
Take a moment to reflect on what you excel at. What are the skills and knowledge areas you’ve developed over the years? What advice do friends or colleagues frequently seek from you? Recognizing your strengths will help you see the potential for turning those abilities into income.
Shifting Your Mindset About Wealth
Wealth is often thought of in monetary terms, but it encompasses much more. It includes your unique gifts, skills, and the impact you can make in the lives of others. When you align your purpose with your actions, financial rewards often follow.
Believing that what you have to offer is valuable is essential. Once you acknowledge your expertise, the next step is finding ways to share it with others. This is where the transformation occurs—when your knowledge addresses someone else’s needs, it creates a mutually beneficial exchange.
Practical Steps to Turn Your Expertise Into Income
1. Identify Your It Factor: Consider the skills and knowledge you have that others might find helpful. Think about your professional background, personal interests, and experiences that set you apart.
2. Package Your Knowledge: Explore different formats for delivering your expertise. This could be an online course, a coaching program, a book, or digital products. The key is to present your knowledge in a way that is accessible and actionable for your audience.
3. Start Small and Scale Up: You don’t need to have everything figured out initially. Begin with a simple offer that you can test and refine. Gather feedback and adjust your approach to meet the needs of your audience.
4. Use Social Proof: Share testimonials or success stories from those who have benefited from your expertise. This builds trust and credibility, demonstrating the value you provide without sounding overly promotional.
5. Consistency is Key: Showing up regularly is crucial. Whether you’re creating content, engaging with your audience, or refining your offerings, consistency helps establish you as a reliable resource in your field.
The Power of Click To Cash
Remember, this journey isn’t about quick fixes; it’s about building a sustainable foundation for long-term success. The Click To Cash philosophy is about taking strategic steps to convert your knowledge into income, allowing you to create a fulfilling life while making a meaningful impact on others.
If you’re interested in exploring more resources and strategies for transforming your expertise into a steady income, I invite you to visit www.stevii.com. Here, you’ll find a wealth of information to help you embark on this exciting journey.
The power to create the life you love lies within you. It’s time to take that next step and turn your knowledge into cash!
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