Introducing Mimi G: The World’s #1 Influencer/Expert In The DIY Sewing Revolution

With over 2.1 million social media followers and 12 million website views annually, DIY Fashion Expert/Girlboss Mimi G has defied all odds to emerge as the most influential woman in DIY fashion, propelling herself into the ranks of Martha Stewart, Lauren Conrad, and Chrissy Teigen.

MimiGStyle.com began as a hobby, and has blossomed into the world’s leading DIY fashion/sewing online destination, where Mimi G models her original designs/patterns ranging from business wear to swimsuits that fit the everyday girl, create free tutorials of her on-trend sewing patterns (Turn Your Jeans into a Skirt, Refashioned Sweatshirt into Dress, Men’s Shirt Into Off Shoulder Button Up), personally answers every DIY sewing question (i.e. what fabrics to buy, what projects to start with, etc.), and so much more. She also created the world’s #1 online sewing school SewItAcademy that works for everyone from the first-time sewing novice to the expert seamstress. SewItAcademy helps fashionistas of all levels master the fundamentals of sewing, work at a pace that allows time to practice, learn the importance of specific techniques, break free from mundane methods, and create trendsetting clothing and accessories.

Mimi G has worked with celebrities like Gwen Stefani and Jennifer Aniston, companies like Target, Revlon, and Google, and has been featured in People Magazine, Parade Magazine, POPSUGAR (to name a few) for making sewing hip and accessible.

MoneyCentral Magazine recently caught up with Mimi G to talk about her journey to entrepreneurship and here’s what went down:

Could you please provide a background about yourself’?

Well, I am a mother of four and a serial entrepreneur who took her love of sewing and shared it with the world. I overcame sexual abuse as a child, domestic violence, homelessness, teen pregnancy and came out at the other end of with a clear vision for my life. I spent many years struggling to make ends meet and working 16 hour days in a field I liked but knew wasn’t my calling. I did the best I could to feed my kids and keep a roof over their heads like many of us do until I started this thing called a blog back in 2008. I didn’t know what a blog really was so those first few years were really just a time of discovery. It wasn’t until 2012 when I decided to blog consistently and launched Mimi G Style, Inc. that I started to focus my energy on teaching and providing tutorials. It was fun to teach people how to make their own clothes when they had never even considered it. My blog grew rather quickly and after that first year I was averaging about a million page views, I quit my job a year and a half in and now 8 years later we reach nearly 12 million people a year and have over 12,000 students in Sew It Academy. It’s amazing. I don’t know that I was “discovered” because there has been so much that has happened in the last eight years that people didn’t see. Growth, planning, strategies, luck, lol but I owe my success to the people who follow and support and share me with friends and family. Starting a business is not something that happens overnight and I feel like I am just getting started.

What do you like most about blogging?

I like having the ability to reach millions of people by sharing my love of style and sewing. It serves as a great journal of sorts to look back and see all that I have done and it’s the way I market new products to my followers so it keeps everything in one place and consistent. Blogging is different now, we like fast information which is why social media is so powerful so you have to really understand the benefits of having a blog and how to use it even with the ever-changing social media climate.

Can you tell us about your Style & Sew It Academy?

I think my style is always changing, I have moods and I dress according to how I feel. I like simple, easy to put on looks that require little to no fuss. I am a jeans and tee kind of girl but will throw on a cool jacket or cool shoes to take the look up a notch or two. I love clothes and I love shopping but to be honest, shopping can be a little stressful if you are not a sample size or, if like me, have a 10” difference from my waist to hips. That is the reason I started sewing again in my 20’s, I wanted my clothes to fit right. It is also the reason I started Sew It Academy.

I launched Sew It Academy in May of 2016. I founded Sew It Academy to help people who wanted to learn sewing and fashion design but couldn’t afford to go to a traditional design school. I set it up so that you didn’t need any experience to start and just about anyone could afford it. The first course is me showing you what a sewing machine is! (laughs) For the price of two lattes a month we teach you everything you need to know to make your own clothes, fix clothes that don’t fit off the rack, work and design your own collections or work in the fashion industry. There is a ton of free info on YouTube but not all of it is good. I wanted somewhere that had structure and really taught people fundamentals that they could build on. There is no online sewing and design school that offers the variety that we do. We teach sewing, pattern making, draping, fashion illustration for both menswear and womenswear and above all it’s affordable.

What’s the biggest challenge of running an online business?

There are a lot of challenges when running a business in general and a lot of what I do happens online but the overall challenge is creating content on a regular basis. You have to be visible and stay visible in order to reach people and make an impact among so many other people. My focus is always around creating engaging and visually appealing content. It can get a little difficult when you feel like your whole life is an opportunity for content but that is the world we live in and certainly the way you need to approach an online business if you want to have continuous success.

Have you always wanted to be in the fashion industry?

No, not really. I have always loved to sew and design but I didn’t know how that was going to transpire in my life. It wasn’t until I was in my late 20’s that I decided I wanted to be a “fashion designer” I went through the process of creating a collection in between my full-time job and even put it on the runway here in LA but after that experience, I knew that although I felt accomplished I didn’t want to spend my time trying to sell a collection. There is a lot more to being a fashion designer that people realize, you have to market and sell your line and very little time is spent doing the actual designing. I love the process of creating garments so after starting my first DIY blog and sharing how-to videos that what I really enjoyed was teaching. I won’t say that I don’t want to do retail at some point because I think I do and will but I can now choose how I want to do it.

What’s your personal mission in life?

I have many, but my main personal mission is to be a great mother, I want to be an example to my kids and have a lasting impact on people I know and those that I don’t. I have worked hard to show my kids that you are more than your circumstances and that the power to be great is found within. I want them to see that despite my struggles I am able to make a positive impact on the world. I have a million friends in my head, all of whom follow me and support me and although I don’t know them all personally I want them to feel empowered and inspired by what I have to offer. My mission in life is to be the best person I can be.

What has been the most memorable experience of your career so far?

I have had so many! but at the end of the day, the most memorable moments have been when someone recognizes me not the street, and wants to share their story with me or take a pic. Every time I meet a follower I am reminded at how amazing my life is and how fortunate I am. I have one story that stays with me always. I got an anonymous email from a woman who shared that she had just gotten out of rehab and was in sober living housing. She told me that she had once been a professional engineer with a great career, her own home, a nice car, and a little girl who she loved. She met a man, fell involve and that was the beginning of a very difficult road. The man she had met and was now sharing a home with was addicted to drugs and had introduced her to them. She became an addict, lost her job, her house, and eventually her daughter. She said it took her a long time to get her life together but she did. When she graduated into sober living she was not he computer looking something up and came across my blog. She shared that she spent hours looking through my blog posts and that I seemed to jump off the page, she said she felt like she knew me. She started learning to sew with my videos and that new hobby she was learning from me helped keep her sober. She is now a coupler and travels sharing her story. She ended her letter to me by sharing that now when she speaks to groups she talks about a DIY blogger that helped save her life and she has no idea who I am. I still don’t know who she is but I think of her often and wish her well. My blog started as a place to make cool things and learn but over time it has become a safe place for people to find themselves and many times heal.

Who have been the most interesting people you’ve met so far?

I have had the pleasure of sitting with celebrities like Jennifer Aniston, Gwen Stefani, and Tim Gunn but the most interesting people I have met so far are fans who have had amazing journeys since learning to sew. So many of them have started small businesses, created additional revenue for their families and have even changed careers. I am forever amazed at the stories I hear and how many exceptional people have been brave enough to share their lives with me.

What are your future plans? 

I have so many plans! I am looking to continue growing my business podcast where I get to share all the business advice I wish someone would have shared with me before I became an entrepreneur. It is geared toward people looking to start a business from a hobby or passion. Business SHET (solve, help, earn, trust) has had over 190,000 downloads in less than a year and I am hoping to continue providing resources. I am also finishing my long-overdue book. I also have a few surprises up my sleeves that I can’t share just yet but it will be really exciting.

How This Beautiful Beauty Queen Made The Leap From Corporate Life To Financial Freedom

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Have you ever heard of a stunning Beauty Queen who works in the Real Estate industry and owns two investment properties already??

Meet the beautiful Gemma White – she was crowned Miss Australia Continents in 2018 but her interest in property investment and building wealth stemmed from a very young age. Growing up, she remembers spending a number of school holidays and weekends at properties her parents would be renovating and that made her eventually realize that investing in property is the best and most consistent way of building wealth.

From the age of around15 years old, she started attending property seminars and reading property related books. The first book she read was “Rich Dad, Poor Dad” by Robert T. Kiyosaki and she also enjoys reading motivational and inspirational books, listening to podcasts, audiobooks and researching online.

She purchased her first investment property which settled in January 2017 and her second investment property in June 2018. Her goal is to own at least 3-4 investment properties within 5 years before starting her very own Property Development Company.

StarCentral Magazine recently sat down with Gemma to find out more about her journey towards financial freedom and here’s what went down.

1. Could you please tell our readers a brief background about yourself and how you started your property portfolio? What encouraged you to start a property portfolio?

I grew up on the Central Coast NSW but moved to Brisbane QLD at the age of 20 and now live on the Northern Gold Coast with my family. I have many great memories growing up and value family time first and foremost.

At just 27 years of age, I have been working in the Real Estate industry for over 8 years and own two investment properties.

As soon as I finished school I completed my Real Estate license and Diploma in Property Services and started working in the industry. Over the years I have also completed a Cert IV and Diploma in Project Management.

My interest in property stemmed from a young age. Growing up, I remember spending many school holidays and weekends at properties my parents would be renovating… well, I mostly remember feeding bread to the ducks and taking my parents’ change to buy lollies at the corner store.

From the age of about 15 years old I started attending property seminars and reading property related books, the first book I read was Rich Dad, Poor Dad by Robert T. Kiyosaki. I enjoy reading motivational and inspirational books, listening to podcasts, audiobooks and researching online.

I think it’s important to have goals, be dedicated, ambitious and willing to work hard to achieve your goals. It is also important to keep learning and growing your knowledge at all stages of life. My life revolves around Property and Real Estate really, I simply love it!

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2. Can you describe your journey? When did you start?

I purchased my first investment property which settled in January 2017 and my second investment property in June 2018. The goal is to have 3-4 investment properties within 5 years before starting my own Property Development Company.

I love a challenge, creating opportunities and helping people into their dream home. Working in Real Estate has helped me understand the ever-changing property market and the key elements to consider when researching for my own properties.

3. What is your main source of income?

I work full time in Real Estate as a Residential Property Manager.

4. What are you currently doing to maintain/grow your property portfolio?

Save. Save. Save.

Whilst I have financial goals that I am constantly striving for, I believe life is all about balance!

I am always trying to improve my life in every area and live with an abundant mindset. I try to save as much money as possible, this often means I give up nights out on the town drinking or other costly outings but I certainly don’t feel like I’m missing out.

By living life in balance I am able to achieve my financial goals and grow my portfolio as well as do many things I enjoy that don’t cost so much or anything at all. For example, go to the gym, get outside for a walk, go to the beach, hike a mountain, walk to a waterfall, watch the sunset, read a book, listen to a podcast, go on a coffee date rather than for a full meal and spend time with family and friends.

5. What is your idea for wealth building?

I believe wealth building comes in many forms. We can start at any age simply saving a small percentage of what we earn with every paycheck. When I started my first job at McDonald’s at 15 years old, my parents made me save 20% of whatever I earnt (I started on a mere $7 an hour). This is something that has stuck with me through my adulthood and I still strive to reach this and more every week. Every dollar counts!

We can make small changes to our daily habits that will set us up for success when it comes to wealth building. I would suggest making weekly plans and budgets, cook at home rather than buy take out, ditch the morning coffee purchase, think before making the next rational purchase for that dress you don’t really need, make specific money or financial goals, pay off any debt (car or credit cards) efficiently and build your credit rating, spend time every day learning (this could be as simple as swapping music or the radio for a podcast or audiobook on your drive to and from work) and surround yourself with inspirational and motivated people who encourage you to do your very best.

When it comes to wealth building I believe ‘where focus goes, energy flows’ and ‘we have to give to receive’.

6. What challenges did you face trying to establish a property portfolio?

The biggest challenge I think many of us face when trying to establish a property portfolio is saving the initial deposit. I know it’s important to remain focused regardless of the challenges, hurdles, and adversities we experience.

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7. What is the toughest decision you had to make in the last few months?

The toughest financial decision I have had to make in the last few months was the decision to continue saving a deposit for a third investment property or to book a months trip to Europe with my girlfriends for mid-2019.

Whilst I am very driven and goal oriented I feel it is important to live a well-balanced life. Travel is something I crave, having already been to over 40 countries.

Although the trip will put me a few months behind on purchasing another property, I know I will achieve this goal with time.

8. What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

I wouldn’t call it a mistake but would highly recommend to start investing as early as possible. In hindsight I would be much further ahead if I didn’t spend the deposit I had already saved on a 6-month backpacking trip around Europe in 2014, however, in saying this, I wouldn’t change anything. The experience, memories, and friendships I made on this trip are indescribable.

9. What new business would you love to start?

I would love to start my own Property Development Company within the next 5 or so years.

10. If you could go back in a time machine to the time when you were just getting started, what would you do differently?

I can’t say that there is anything I would change at this point in time. I feel that we learn and grow with every step of the journey.

11. What is the best advice you have ever been given?

The best advice to remember when purchasing an investment property is to ‘think with your head, not with your heart’.

12. What advice would you give someone who wants to start building their property portfolio?

If you have thought about buying a property, there’s no better time than now! Do it. Don’t wait. Take action now!

It is imperative to do your research. I would suggest reading property books, attend property seminars and seek advice from those who are already in the property market. The most important decision you can make is to get educated and learn as much as you can to ensure you set yourself up for success.

Get To Know The Global Multimedia Artist And Successful Entrepreneur YiZhou

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Chinese multimedia artist, influencer, and entrepreneur Yi Zhou is widely known in the international creative community for her artistic, fashion, branding and film work. Her work is admired by a highly diverse group of distinguished intellectuals, Hollywood A-listers, wealthy patrons and the young social media audience.

Yi Zhou has a degree in politic science and economics from the London School of Economics and is now continuing her education at Pepperdine University in Malibu, California. She speaks fluent French, Italian, English, Spanish and Mandarin.

In recent years, she has endorsed a number of global campaigns including Persol, DFST – Galleria, Levis, and others. She was named the first-ever brand ambassador for China for Clarins in 2010. Since 2011, she has collaborated with such prestigious brands as Chanel, Hogan, Pringle of Scotland, Lane Crawford and YOOX. She also collaborated with French couture Jewelry house Gripoix, launching a special collection titled “Pineapple Secret. Her animations have also inspired a clothing collection by popular French brand Each X Other.

In 2013, she was invited as the first ever Chinese talent to be hired as a designer and creative director of a brand, to create a 360-degree project ranging from menswear, womenswear and accessories for Italian luxury brand ICEBERG. The “Breaking the Ice” capsule collection was released worldwide in December 2013.

In 2010, she created Yi Zhou Studio, creating employment opportunities for young Chinese talents to collaborate and experiment together on international projects.

A major social media influencer, Yi Zhou has been named Tudou’s art director, art and fashion advisory member at SINA.com, and beauty and fashion ambassador for Tencent.

A passionate promoter of East-West relations, she is frequently asked to speak at conferences and events around the globe, including TEDx (Paris 2012, Beijing 2013, Zheijang 2014), LVMH Labour Day in Paris in 2013 and Financial Times Luxury Conference in 2014.

Yi Zhou has contributed to many NGOs by creating art pieces for the UN Conference for World Climate Change in South Africa in 2011, the UNDP China Rio+20 Projection in 2012, as well as World Oceans Day in 2015. Most recently, she worked with Natalia Vodianova’s Naked Heart Foundation by participating in an artwork commissioned by ETAM.

Yi Zhou ‘s short films have also been shown at Shanghai Biennale, Venice Biennale, Sundance Film Festival and Cannes Film Festival. She was selected by Venice Biennale to showcase her 2011 works, as well as new works from her solo show at the Museum of Contemporary Art in Rome titled “Fragments of Rome, past, future, parallel worlds.”

She is currently working on several international media projects and is developing her first feature motion picture.

StarCentral Magazine recently sat down with Yi Zhou to find out more about her journey to entrepreneurship and here’s what went down.

Could you please tell our readers a brief background about yourself and how you started your business? 

I began my career as a multimedia artist in Paris and in China. Recently, I have relocated to Los Angeles to prepare for my first feature film and to start an investment company that will invest in entertainment and lifestyle portfolios.

My journey to success is thanks to hard work and by living in different countries. I have developed a sense of independence and survival to the new that has helped me to strengthen my skills to adapt to new environments.

I actually have a selective memory, and I am always ready to start a new chapter and a new challenge against boredom. I would never want to sit and dwell on my past achievements, but instead, I look at the future with hope and opportunities.

What is your main source of income?

I have multiple sources of income. I have divided my business and creative skills as an artist, filmmaker, and entrepreneur.

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What are you currently doing to maintain/grow your business?

I’m preparing my investment firm at the moment and adding more ventures into my portfolio, and plan to venture into riskier as well as traditional investments.

What social media platforms do you usually use to increase your brand’s awareness?

I feel that I’m a pretty tolerant person. Therefore, I can afford some more risky investments and projects, such as my latest addition, ArtWallet, to which I’ve been named an Advisory Board Member. It’s a new concept that bridges cryptocurrency and art. I’m also preparing to launch my brand Global Intuition, a new concept for lifestyle and apparel born in China and made in LA and China.

What is your experience with paid advertising, like PPC or sponsored content campaigns? Does it work?

I don’t believe in sponsored advertising in the long run for social media, as it lacks authenticity. It often feels like a Christmas tree, due to the sudden association of the influencer with a given brand. I believe things and associations must feel organic and real to the audience, who is becoming more and more savvy nowadays.

What is your main tactic when it comes to making more people aware your brand and engaging your customers? How did your business stand out?

I must say that I’m an influencer myself and I often refuse to do posts that make me sound unnatural. I try always to be associated with brands that I feel close to in terms of philosophy, strategy and look. As for my own brand Global Intuition, we are preparing our PR and marketing launch at the moment.

What form of marketing has worked well for your business throughout the years?

I don’t believe in any marketing theories. I always try something new with a surprise effect.

How did your brand stand out from the rest of the other brands out there that is similar to your niche?

I hope my brand Global Intuition will stand out when it launches later this year. As a brand myself, YiZhou, I feel that I am unique as I incorporate many roles and cultures into one, so it makes it difficult to copy.

What is the toughest decision you had to make in the last few months?

The toughest decision I had to make in the past months was to say goodbye to some projects that I was invited to work on. Along the initial path, I encountered a lot of difficulties to deal with some of the involved partners, so I looked deep inside of myself and decided not to continue, even if the projects might have appealed to me. I feel work and living happily are the most important things to me.

What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

Over time, I have learned that overspending and having too much overhead are mistakes. I think modern technologies are allowing us to accomplish more tasks than before, thereby saving manpower.

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What have you learned in the process of becoming wealthy that others can learn from?

I think “saving” is a keyword to learn, as are planning and making smart moves.

What new business would you love to start?

I wish to continue to accomplish the plan I laid out for the upcoming years, and my best goal is to one day create a beautiful family.

If you could go back in a time machine to the time when you were just getting started, what would you do differently?

I wish to be able to see my ancestral life. But in this very life, I would not change anything, besides perhaps learning to deal with difficult people differently. I wish I would have had the chance to learn about this important skill in advance.

Do you have any favorite business-related or personal development related books that you can recommend to other entrepreneurs?

I read a lot of sports-related books, as I believe an entrepreneur is a sportsman (or woman). We need to take the same approach.

What advice would you give to a newbie Entrepreneur setting up their first business?

Advice to a newbie: I wish to advise them to find a real-life role model and mentor, and stay in close contact with that person for guidance.

Meet The Woman Who Made The Leap From Freelancer To Successful Solopreneur

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Nicole Faith went to NYU with stars in her eyes hoping to get a crack at the fashion industry, but after four internships and one graduation later, she realized that she had no clue what she wanted to do. She decided to work for a startup where she ended up honing her tech and design skills by empowering entrepreneurs to build their online business.

She became physically and emotionally ill from the stress of her 9 to 5 job, so she took a solo trip to LA for two weeks to recharge. Once she got there, she didn’t want to go home because she loved solo traveling so much.

She started out just freelancing but quickly became frustrated by crappy clients who disrespected her expertise. She was tired of negotiating rates and being taken advantage of. There are many coaches and lifestyle entrepreneurs selling the “dream” of lounging in a hammock on the beach, but nobody actually makes it happen for you. She knew she could do that, so she re-branded her entire business to align with her ideal clients (sophisticated solopreneurs).

As a pioneer in the location independent movement, she is thrilled to continue to demonstrate how to choose a life of freedom on your terms.

We caught up with Nicole Faith to talk more about her business and here’s what went down:

Could you please tell our readers a brief background about yourself and how you started your business?

10 Carat Creations is where five-star businesses are built. I build your online service business in just one week so you can work with clients as you travel the world. I grew up obsessed with fashion and had every intention of becoming a fashion journalist.

After graduating NYU, where I completed four internships in the fashion industry, I was completely lost. It was too much like The Devil Wears Prada for me, so I sought out another path. I landed a position at a tech startup where for three years I learned the ins and outs of website design and entrepreneurship as I helped entrepreneurs start an online business. I got my first job when I was 12, so there came the point when I knew I needed to transition out of being an employee and into something that offered more freedom.

I thought freelancing was the answer because so many people do it, but boy was I wrong! As a freelancer, I was just as stressed and unhappy. I kept having to chase clients and justify my rates. I felt utterly disrespected because I knew I had deep expertise I wasn’t being paid or recognized for. I not only excelled at design but had the ability to craft a business concept from start to finish in a short period of time.

I was also appalled at how unprofessional, so many so-called professionals were. I felt like the odd-woman out because I was obsessed with professionalism and attention to detail.

I had a website which is not the same as a business. After stumbling around, I re-branded my entire business to 10 Carat Creations based on my own values and not the marketplace. I packaged my services which changed everything.

I was tired of copying what other freelancers do. Chasing clients. Pitching clients. Negotiating with clients. It just felt wrong to me. If you’re an expert, I believe you deserve to command respect and premium prices. There are services, and then there are services. So few people seemed to be preaching this, so I decided to carve out my stake in the industry.

Soon after that, I founded the Digital Nomad Business Directory as the first and only online directory of location independent solopreneurs. Because if I’m going to help people craft a high-caliber business, I want to show them off!

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Can you describe your journey to success? When did you start? Did you ever imagine you would become this successful?

Success is quite the illusion! You have to act successfully to become successful. I put in a lot of unpaid hours. Thousands of unpaid hours! I had the self-awareness to know I could make a living from my ideas and I took it one day at a time. I started freelancing part-time while working my full-time job. Eventually, I had more time when freelancing was my focus. Each day I did something very small, like discover a new tactic, design new graphics or write a blog post. All of my teeny tiny actions added up to something that looks impressive from the outside but is really being held up by the smallest of building blocks. I had diligently saved a lot of money that gave me the cushion to work on my business. I doubted myself several times and went looking for a job thinking maybe I wasn’t ready to be a full-time entrepreneur. I couldn’t get hired anywhere and came to the conclusion I had outgrown being an employee. I considered this the universe’s sign I needed to double down and work on my own empire.

What is your main source of income?

Freelancers who want a custom and/or original pre-made online service business. I craft their concept, hone their niche, package their services, design their website, write their copy and set up the backend tech.

What are you currently doing to maintain/grow your business?

I’m consistently looking for press opportunities because my goal is to make 10 Carat Creations a household name for people looking to escape the nine-five and freelance grind once and for all. I also have a few projects under wraps that will make crafting a five-star business more accessible than ever. Lack of money shouldn’t prevent you from making more money. At the end of the day, money can’t buy class.

How did your brand stand out from the rest of the other brands out there that is similar to your niche?

There are SO MANY brands that glorify being a “digital nomad,” but mine is the only one that meets you in reality. Most quit-your-job advice is vague like “freelance on Upwork”, “get gigs” or “start a blog” but the truth is to make a decent living doing any of those things is really hard. I believe people who have an expertise should capitalize on it in a way that attracts the right kinds of clients who will pay premium prices. People who respect themselves also respect other people’s expertise, which means if you can provide a service online there’s a market for it. 10 Carat Creations isn’t for the average person who’s interested in traveling the world- it’s for sophisticated solopreneurs with the motivation to build a business that supports their dream. Not the other way around.

What is the toughest decision you had to make in the last few months?

I founded the Digital Nomad Business Directory as the first and only online directory of location independent solopreneurs. Its brand was bright, colorful and punchy- the opposite of 10 Carat Creations. When I realized the two businesses didn’t match up and were confusing, I had to re-brand the directory, so it more closely aligned with 10 Carat Creations. I’ve learned change is great and usually necessary, so I’m not ashamed to say something didn’t quite work out the first time. There have been many times when I put a lot of work into a concept- only for it to be re-done shortly after that. I have to swallow my pride and just get it done because it’s more important that the branding be right than for me to be right.

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What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

When you start a business, there are so many paid tools that seem like necessities. Things like software and apps might take up a lot of time because you want to find the “perfect” tool. I almost made this mistake and am glad I didn’t.

I would recommend paying for something as a last resort because it keeps you creative and forces you to evaluate what’s essential and what’s just nice to have. You can spend thousands on nice-to-haves.  Any tools you buy should fit into your workflow seamlessly and shouldn’t detract from your actual work.

What have you learned in the process of becoming wealthy that others can learn from?

Sometimes, even when you have no money, you need to spend money on you. Take a spa day. Get your nails done. Buy the bag. Because you need to reward yourself for how far you’ve come. People who are rich, literally and figuratively, don’t run on fumes. I spent too much time beating myself up over how slowly things seemed to be going when I should have given myself a hug. It took me several months to figure out my perfect brand. It took me three months to get my first press mention. It took me five months to get 50 newsletter subscribers. And it’s all great! Nothing happens quickly, despite what you may think. It’s a very slow burn.

What new business would you love to start?

So many! That’s what inspired Business With A Bow™- the original pre-made service businesses I sell. Every idea I have for a business that I love I create and let someone with the skills and time to make it their own. I’ve wanted to do everything from spy-like consumer research to explainer videos to infographic marketing. I’ll leave my crazy ideas to the experts!

If you could go back in a time machine to the time when you were just getting started, what would you do differently?

I would have chosen a niche and packaged my services. Being a generic “freelance web designer” or “freelance copywriter” doesn’t do anything to get you, clients. I would also have focused on the benefits and not the services. No one cares that you can write a resume but if they can “Get more dream interviews” then that’s a good hook. It took me a long time to comprehend this and an even longer time to make it happen. Practice makes perfect, and I definitely had a lot of practice.

If you could go back in a time machine to the time when you were first making a name for yourself, what advice would you give yourself?

Be ruthless in cutting wasteful people and activities from your daily life.

Do you have any favorite business-related or personal development related books that you can recommend to other entrepreneurs?

The One Thing by Gary Keller and Jay Papasan is life-changing because it really helped me organize my life and business. The TL;dr version is “What’s the ONE Thing you can do such that by doing it everything else will be easier or unnecessary?”

What is the best advice you have ever been given?

I never asked for advice because I don’t like people telling me what to do. My favorite unofficial advice is from Dr. Seuss- “Be who you are and say what you feel, because those who mind don’t matter, and those who matter don’t mind.”

What advice would you give to a newbie Entrepreneur setting up their first business?

I built my business based on values I thought were missing from my industry. I was disgusted at how unprofessional everyone was. Their casual attitude towards clients and business, in general, turned me off, so I thought if I felt this way other people must as well. I recommend doing the same thing. What’s missing, and why? What do you dislike, and why? Ultimately, you can read words of advice all day, but eventually, you have to do something. Do it now.

One On One With Successful Entrepreneur Vanessa Rende

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Vanessa Rende is a Speaker, Writer, Entrepreneur, Consultant, and Podcaster. She is a former corporate consultant in the mortgage-backed securities industry, helping private, public and government agencies with risk, management, leadership, and business strategies.

When her career as a corporate consultant with a cushy paycheck, fat bonus and a false sense of freedom offered her an all-expense paid relocation to Denver, CO to work from a cubicle when she wasn’t traveling, Vanessa knew she wanted MORE. And she knew it was time to go all in.

A new homeowner and mom, she turned down the offer and launched her consulting firm in 2011 to help businesses and entrepreneurs with leadership, process improvement, marketing, business development and other business strategies.

Using her 12+ years of experience, formal training, and life lessons, Vanessa is among the rare few business champions who is truly results and impact-driven. It is her mission to turn the hundreds she has impacted into millions.

MoneyCentral Magazine recently sat down with Vanessa to find out more about her journey to entrepreneurship and here’s what went down.

Could you please tell our readers a brief background about yourself and how you started your business?

I am a former corporate consultant who worked with the US Federal Government and hundreds of businesses and entrepreneurs across the globe before turning down an all expense paid corporate relocation to Denver, CO in 2010 to start my own consulting firm. Within one year, my firm hit multiple six figures, but I let my mindset get the best of me and shut everything down to deal with a messy divorce, domestic violence, and even child abuse. I came “back” in 2015 and had dedicated my life and business to helping others climb out of the mental, emotional and financial hole I was once in. I have been featured in Fast Company, The Huffington Post, Thrive Global, Fudding, and am about to have a spread in a popular entrepreneur magazine in Australia.

Can you describe your journey to success? When did you start? Did you ever imagine you would become this successful?

I started like a lot of people, with a comfortable corporate job that wasn’t giving me what I wanted out of life. I’ve been an “entrepreneur” since I was nine years old, helping a lady in the neighboring flea market spot market her items to kids my age. But I didn’t decide to take the leap and go all in until the false sense of freedom from my corporate consulting job came crashing down after my son was born. I love Denver, CO, but I wanted real time and money freedom, especially since I was a new nursing mom.

What is your main source of income?

I have seven streams of income, and my main ones are my consulting/writing/speaking business (mostly online and some offline) and my real estate business.

What are you currently doing to maintain/grow your business?

I am working on publishing two books this year. I am focusing on helping more people by collaborating with awesome media sources like you! I also blog for Thrive Global, The Huffington Post, and my own website. I have a podcast and live on Facebook and Instagram (for business, but I also love it).

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How did your brand stand out from the rest of the other brands out there that is similar to your niche?

Same as above: the content I create is phenomenal. I don’t hold back when I’m sharing what I know, what I’ve learned and how someone can help themselves improve.

What is the toughest decision you had to make in the last few months?

Great question! I trashed my 2018 business plans and burned my business model to the ground. I got caught up playing the online entrepreneur game, and I lost sight of the impact I’m meant to make. So I re-designed my business model, edited it extensively, removing anything and anyone who wasn’t conducive to the new plan and boom! Specifically, this meant closing down two paid group programs (that were full), and a free Facebook community I had been cultivating for over two years.

What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

1) I started doing paid ads way before my business was ready. This left me struggling and more lost than I’d like to admit.

2) I fell into the online entrepreneur game. I became a launch queen, releasing one thing after the other to stay afloat without keeping my eye on the real prize: alignment. My new business design includes only what feels good, right and aligned with my purpose. If it doesn’t feel good, I no longer do it – no matter how scary it is to me or odd it may seem to the world that I don’t partake.

What have you learned in the process of becoming wealthy that others can learn from?

I have learned that wealth is a state of mind. I know money isn’t, but I understand now that I didn’t have to wait for my bank accounts to look fat to feel taken care of, wealthy and amazing. All of that started within myself, and if someone had told it to me, I would have attained it much faster.

What new business would you love to start?

I would love to open up a local yoga and juice shop! It may be selfish, but I want fresh juices and yoga every day, so why not offer it in my community where there is none of that yet.

If you could go back in a time machine to the time when you were just getting started, what would you do differently?

I would have invested in a coach or mentor when I first opened my own consulting business. When I had to file for a restraining order and subsequent divorce, I closed myself off. I didn’t have someone to call me out on my bullsh*t and help me see that I was shrinking for no reason. I know that if I wouldn’t have tried to do it all alone, I’d be at multiple seven figures by now.

If you could go back in a time machine to the time when you were first making a name for yourself, what advice would you give yourself?

Vanessa, you think it’s about strategies, revenue, budgets and constant progress, but really it’s about something much bigger: loving, trusting and believing in yourself. The moment you decide that you matter more than anything, your life will change forever (and it has!).

Do you have any favorite business-related or personal development related books that you can recommend to other entrepreneurs?

OMG, yes. I have read The Big Leap several times, and I highly recommend it to every business owner, creator, and visionary. I also recommend Think and Grow Rich, Blue Ocean Strategy and E Squared (Pam Grout).

What is the best advice you have ever been given?

It doesn’t matter what people think of you, what matters is what you think of you.

What advice would you give to a newbie Entrepreneur setting up their first business?

Before you start planning, plotting and thinking up strategies, focus on your mindset. Do it daily, do it first. Those other things can only take you so far. Your mind is what truly pushes you through the limits you have and will create for yourself.

One On One Interview With Millionaire Entrepreneur Jasmin Terrany

This inspiring entrepreneur went from working three odd jobs earning an average income to a six-figure income – but it wasn’t an easy journey.

When Jasmin Terrany graduated from her Master’s program at Columbia University, she ended up working three jobs to make ends meet. She worked part-time as a therapist at a Medicaid clinic, part-time as a school counselor in a high school in Harlem, and she also started her private practice on the side.

She started her practice in 2007 and realized early on that although she had done psychotherapy training, it didn’t mean people would be knocking on her door to obtain her service. She knew she had to think like an entrepreneur to get people to be more interested in her business. That’s why she started taking marketing classes and learning more about sales. Eventually, she ended up inventing Life Therapy – it combines traditional Psychotherapy and Life Coaching, as well as spiritual practices like Mindfulness and Meditation. When she started her business, she was only charging $50 per session; she never imagined that eventually, she’d be charging ten times that per session. She now maintains a six-figure, ten-hour a week virtual business, while raising two small children at the same time.

We recently sat down with Jasmin to find out more about her journey to entrepreneurship and here’s what went down.

Could you please tell our readers a brief background about yourself and how you started your business?

I work mostly with high-profile individuals who want to make their personal life as successful as their business life. I help them improve relationships, self- confidence, and body image while alleviating stress and anxiety. I call my work “Life Therapy” because it combines traditional Psychotherapy, Life Coaching, and spiritual practices like Mindfulness and Meditation.

When I graduated from my master’s program at Columbia University, I got three jobs. I worked part-time as a therapist at a Medicaid clinic, part-time as a school counselor in a high school in Harlem, and I started my private practice on the side. I rented office space by the hour. Eventually, as my practice grew, I rented one day of office space then two days, then got my own. When my practice was lucrative enough to support my lifestyle, I quit my other jobs and continued only with that.

Can you describe your journey to success? When did you start? Did you ever imagine you would become this successful?

I started my practice in 2007. I realized early on that although I had done all of this psychotherapy training, just because I believed myself to be a wonderful therapist it didn’t mean people would show up. I had to become a business person. That;’s why I started taking marketing classes and learning about sales. One of the key phrases that helped me grow was, “I only want clients who are ready, willing and able.” Before I started using this mantra, I felt the need to accommodate any potential client even if they weren’t right for me.

When I started with my first client at $50 per session, I never imagined that eventually, I’d be charging 10x that per session. I now maintain a six-figure, 10 hour a week virtual business, while focusing on raising my two small children.

What is your primary source of income?

My private practice and my books. I meet with clients via Skype, phone or any other video conference.

What is your primary tactic when it comes to making more people aware your brand and engaging your customers? How did your business stand out?

To be authentic and share my story, it starts with my mom…

My mom Betsy is the mom everyone desired. As beautiful on the inside as she was on the outside, she’s overflowing with unconditional love, true understanding, and joy. She was a best friend, the ultimate role model, and a true parenting guru. In over a decade of private practice, a lifetime of relationships, and over 50 countries of world travel, never have I even heard of another mother who parented with such intention, dedication, clarity, wisdom, and fun.

With no warning, no preparation, one sunny afternoon, she simply disappeared from this world. She was driving to meet me for lunch, and never arrived. Age 64, mile marker 64. Gone.

As I sat all alone, trying to digest this unfathomable news. I stared out the window as the sunlight kissed the sparkling ocean waves. I couldn’t believe the peace I felt, amidst the heart-wrenching pain in my soul. She was there with me. Her loving wisdom was so deeply embedded in my essence that I couldn’t tell if it was her voice or my own.

“Now is your time.” Every part of me knew. “Don’t be scared. This pain is your gift. This is your learning… You are the Mommy now.”

After the most devastating year of my life, it all began to make sense. On the first anniversary of my mother’s passing, I naturally gave birth to my own daughter. The hair-raising synchronicity of this moment, not only brought new physical life into the world but channeled the content of my most treasured work of art:

“Extraordinary Mommy: A Loving Guide to the Most Important Job There is.”

This book is my new chapter of life. I have visions for other books, workbooks, educational programs, children’s books, workshops, motivational events and so on.

I believe that extraordinary mothers make extraordinary people, and I am destined to help mothers access their truest strengths so they can be warriors of love for the most important job there is.

What money mistakes have you made along the way that others can learn from (or something you’d do differently)?

At one point I got a money manager to invest in puts and calls. I was young and thought I had a high-risk tolerance, but after he lost almost 50% of my portfolio, I realized I was wrong. Now I am focused on stability and longevity and make sure to plan for my future.

What have you learned in the process of becoming wealthy that others can learn from?

Having money is helpful for sure, but when you die you won’t look back and wish you worked more, you’ll likely wish you lived more. Studies show that after a baseline of financial stability, more money doesn’t make people happier. More living makes people happier.

What new business would you love to start?

I have committed to a new venture, of which I am extremely excited about: A Mommy Mission.

Extraordinary Mommies Make Extraordinary People.

In this country, there are certifications for professions as simple as florists. Yet the most important and challenging job that exists requires no license, certification or training.

Approximately 4 million mothers give birth per year, and there is no recognized “Mommy Manual.”

Many books teach what to expect and what to do, but few focus on how to be, the psychological, emotional and spiritual foundation of the mother, which is truly the basis for all experiences. Although mothers feel the truest, purest love for their children, the stress and challenges of motherhood often distract them from it.

My upcoming book, “Becoming Mommy: A Loving Guide to the Most Important Job there is,” is written from my perspective as new, vulnerable mother and trained psychotherapist, I summarize the ten core principles of my own extraordinary mother. Through engaging stories and examples, outlined lessons and chapter overviews, new mothers can quickly and deeply receive the golden nuggets of parenthood.

I am focused on PR and marketing for this book.

If you could go back in a time machine to the time when you were just getting started, what would you do differently?

Tell myself to enjoy and trust the process. You are never done, there will always be more, focus on embracing what you have when you have it.

If you could go back in a time machine to the time when you were first making a name for yourself, what advice would you give yourself?

You don’t have to know everything, be as vulnerable and authentic as possible and realize that we are all fellow journeyers learning together.

Do you have any favorite business-related or personal development related books that you can recommend to other entrepreneurs?

These books changed my life: “Power of Now”, “A New Earth: Awakening to Your Life’s Purpose” by Eckart Tolle, and “There’s Nothing Wrong with You” by Cheri Huber.

What is the best advice you have ever been given?

Don’t assume all the “successful” people out there are smarter or better than you. Everyone is learning as they go, you just have to start.

What advice would you give to a newbie Entrepreneur setting up their first business?

Make a goal, like driving cross country to California from NYC. Start driving in that direction. You will have no idea what roadblocks and detours will arise, but you’ll keep figuring it out along the way. Your final destination may even change, perhaps you’ll decide to stop in Colorado. Regardless of the outcome, enjoy the ride.

One On One Interview With Millionaire Entrepreneur Kaila Methven: The CEO Of One Of The Most Successful Luxury Lingerie Brands

Photos courtesy of Madame Methven

Kaila Methven is the brains behind possibly the world’s most expensive lingerie label, and she’s not only successful she’s also drop-dead gorgeous.

Kaila’s family once upon a time owned The Rainbow Unlimited Chicken Company (RLC), which used to supply 90 percent of KFC’s poultry. After inheriting her family’s sale of RLC shares back in 1991, Kaila decided to step away from the fried chicken business and focus instead on a much sexier line of work: a luxury lingerie company.

At just 16 years old, Kaila interned at her first Paris Fashion Show and went on to earn a Master’s Degree from the International Fashion Academy – Paris. She completed advanced training at Polymodo in Florence.

Kaila has so far been featured in Harper’s Bazaar, Elle, and Maxim and she has dressed some of today’s sexiest stars including the likes of Demi Lovato, Katherine McPhee, The Kardashians, and more. Kaila has just released her new vivacious, ultra sexy lingerie and intimate apparel line called “Lady Methven” and it was created for the everyday woman. Combining childlike innocence, erotic playfulness, and female power, Kaila dares everyone to fall in love again.

MoneyCentral Magazine recently sat down with Kaila to find out more about the luxury lingerie brand the whole world is currently gushing about and here’s what went down.

1. How were you actually ‘discovered’?

The first person who discovered me was Jean Charles de Castelbajac. I was a student at IFA, and he was visiting the school at the time. I was designing a jacket that day, he saw it and fell in love with it. After that, he gave me an internship in his company.

2. What do you like most about being a designer?

My most prestigious reward is to see women fall in love again wearing my lingerie. It is an honor for me when I see them feeling empowered, beautiful, sexy and confident.

3 What’s it like dressing some of the most famous people in the world?

It is extremely rewarding that famous people recognize my talent and want to wear my designs. However, I try to stay humble, and a client is a client. I don’t treat my clients differently because their name is well known. Each of my clients gets the best service I can provide, no matter who they are.

4. What first interested you in style/fashion?

I was born in LA, grew up in Paris, and graduated with my bachelor at Esmod, masters at IFA, MBA at Polymoda. I interned as a makeup artist at Paris fashion week for Dior, and when I saw all those models walking down the runway, I knew my destiny was to become a designer.

5. What made you decide to make it into a career?

Originally, I wanted to be an entertainment lawyer. But when my mother passed away, I moved to France, and I was immediately inspired by the fashion and the arts, so I entered in design school.

6. When did your career start?

I began filling my business documents to become legitimate a year and a half ago. I then started my design process and brought it to fruition during the summer of 2017. It took my team and me about six months to make the entire collection.

7. What do you enjoy most about style/fashion?

The most rewarding thing to me is the creativity it brings to my clients and the smiles on their faces.

8. We note that you have more than 500,000 followers on Instagram- what is your secret to gaining a lot of followers?

I always have new content. I don’t want my followers to get bored. Instagram is one of the biggest social media platforms; it is important to provide new content, make stories, like other amazing influencer’s posts, etc.

9. What sort of marketing do you do to make your image and brand more appealing to the audience?

We do a bunch of stuff from social media, Amazon, Ads, Parties, and other PR work.

10. How active are you on social media?

I am extremely active on social media. I post almost every day.

11. What is your favorite social media platform?

Definitely Instagram.

12. How do you think lingerie is dictating fashion trends for 2018?

Bodysuits are very in this season. It is very easy to wear it with jeans and a blazer, and it makes a very sexy and elegant outfit.

13. What are the color trends in lingerie? Can you tell us when and where to wear each of them?

Beige, mustard yellow, and forest green.

14. Can you give some tips to men who are looking to purchase lingerie?

Always buy XS size, so her boobs look bigger, and XS size for her waist, so it looks slimmer. You never wrap lingerie in a box with tissue paper, always hold it in your hands with a bottle of wine or just have it lying on the bed waiting for her when she comes home.

15. What’s the best lingerie to pair with your favorite winter blazer?

A black dentelle bodysuit. You can find them easily on my website or my Lady Methven bodysuits on Amazon.

16. How can lingerie enhance one’s mood?

Arousing visuals stirs chemicals in your partner’s brain, we all want something sexy to ourselves.

17. Do you have a specific inspiration that keeps you going in your career?

There is one woman who always pushed me to accomplish my dreams, whose name I’ll keep confidential. As of today, we are still in contact, she is very proud of me, and I always turn to her for advice. Ultimately, I am impressed by many successful businesswomen who started from the ground up.

18. What has been the most valuable lesson you’ve learned. This can be about the industry or about yourself. Or both!

Always believe in yourself, never give up on your dreams, and continue to work hard because hard work always pays off.

19. What are your plans? Inside your career or out of it.

Hopefully, I will have a store open, be an even better person, a better CEO with a very accomplished company, and have international stores.

The ‘LIGHTNING FAST’ Round:

1. What is the one beauty product you can’t live without?

The La Mer moisturizing soft cream. I apply it every night before I go to bed and it leaves my skin flawless.

2. What is in your makeup bag when you travel?

Every time I travel, I always have my glam squad with me to glam me up everywhere I go.

3. What is the one “flaw” you wouldn’t change about yourself?

I always wear Louboutin, and fur every time its chilly outside.

5. Your best guilty pleasure…

Having eight orgasms in my black Lady Methven bodysuit.

3 Powerful Visualization Techniques Visualization Techniques To Manifest Your Desired Outcomes

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What do you think is the difference between a dreamer and a doer?

One word: confidence.

Let’s face it, if you’re confident that you’ll eventually achieve your goals because you are willing to do whatever it takes to get there then you will no doubt achieve it. However, if you’re not confident about yourself and you don’t think your plans will pan out then you won’t really feel the need to take any steps to achieve your goals.

Confidence is the key to making something of yourself. It’s having the inner confidence that whatever happens around you, may it hail or shine, your confidence remains rock hard. If you believe in yourself that you will eventually achieve your goals, you’ll reach it. One of the most effective ways of achieving your goals is through Effective Visualization.

So what is Effective Visualization?

Arnold Schwarzenegger is a big-time celebrity who used the power of visualization to achieve his bodybuilding goals.

Schwarzenegger didn’t just go to the gym every day and worked out, he actually visualized his success. He said “I had this fixed idea of growing a body like Reg Park’s. The model was there in my mind; I only had to grow enough to fill it… The more I focused in on this image and worked and grew, the more I saw it was real and possible for me to be like him.”

Schwarzenegger conditioned his mind and convinced himself that he was capable of achieving his goal, he firmly believed that he would be able to do it and that’s exactly what happened.

He also said, “What you do is create a vision of who you want to be — and then live that picture as if it were already true.”

This is the power of Effective Visualization.

You need to visualize your desired result over and over again as if it had already taken place. There’s no room in your head for doubting yourself and your capabilities because if you do this, you are unconsciously sabotaging your success.

Effective Visualization is a technique that’ll help you get over the barrier of self-doubt. You need to visualize and actually see yourself achieving your goals and you need to envision how you’re going to do it in the most detailed manner as possible. The more you visualize your success, the more it’ll transcend to reality because the power of the mind, if harnessed the right way can make a huge impact in your life.

What do you think is the difference between a successful person and a loser?

It’s two words: mind power.

The big reason why the rich get richer and the poor get poorer because the rich people have such a powerful mindset – they are willing to do whatever it takes to get to the top and they can see themselves right at the top even though they’re not even there yet. They condition their minds over and over again to the fact that no matter what happens, they will eventually achieve the results they want.

Here are four effective Visualization techniques you might want to implement in your life:

Be in the moment

If for example, you have a meeting with some prospective sponsors, visualize yourself going to the meeting and winning that pitch. What do the potential sponsors look like?

What does the meeting place look like?

Can you picture the surroundings?

Can you hear their voices?

Imagine how calm and collected you are going to that meeting and shaking their hands.Imagine the potential sponsors intently listening to your pitch. By doing this simple practice you’ll be able to go that meeting with rock hard confidence because you’ll be able to transcend that imagery into real life since you’ve gone over the scenario in your head over and over again.

Focus on you

Besides visualizing the surroundings you need to effectively visualize yourself going into that meeting.

What clothes are you wearing during this meeting?

Is your posture on point?

Do you look confident enough to secure the deal?

How calm and collected are you?

How is your tone of voice during the pitch?

Are you injecting a sense of humor to make the sponsors feel more comfortable with you as a person?

Have a backup plan

Visualizing yourself nailing the sponsorship is definitely a must, but you need to also have a plan B just in case things don’t go according to plan – at least you have a backup plan. Having a plan B or even a plan C will be good for you in the long run because it enables you to be a bit more prepared. Think of possible ways the potential sponsors would react negatively to your pitch and then think of ways in advance that you’ll be able to address their concerns.

Practice how you would react to their negative response and then repeat that scenario in your head over and over again so that when the time finally comes and they react negatively to your pitch, you’re 100% confident that you have the answers they are looking for because you have visualized this scene a number of times.

In conclusion

Your goal here is to strongly instill the experience you want in your mind so that this will transcend into real life and you’ll be able to embody the version of yourself that you know in your heart can be.

You need to make sure you note down everything you see and hear in your head and go over it again and again. Before you know it, you’ll be well on your way to nailing down that life-changing pitch.

3 Basic Financial Tips Every Entrepreneur Needs To Know Before Launching A New Business

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Image via Shutterstock / Sofi photo

A startup without a proper plan and pre-analysis of different risks you may encounter during your business venture could lead to problems and waste of money. One of the things you need to protect when building a business is your investment. Therefore, it is critical to learning how to manage your finances to guarantee a sustainable business.

Track your finances

Make sure you track all your funds to know where your money goes. Keeping the record of your expenses up-to-date allows you to review your financial status. If you can monitor your cash flow, you can point out which part of your business areas are spending a lot so you can allocate the excessive amount to a more critical business plan you want to implement.

Proper cash flow management also enables you to limit excessive expenses for less essential business needs. Control spending at your startup since you are not yet able to generate your profit. It is still very early for you to reward yourself with fancy things without yet generating your net income.

Ensure you organize every record of expense such as marketing costs, mortgage loan or rental fee of your office, water and electric utilities, employee’s payroll, taxes, and many other aspects where money is involved. Organizing these expenses helps you do the proper computation easily.

Hiring professional help

Not all entrepreneurs possess an accurate computation skill. Hiring a professional can help you do the complex computations and get accounting done efficiently. Through his/her help, you can also allocate a specific amount specially intended for the tax contribution. Monthly reconciliation with your bank also enables you to verify if there are accounting errors done or unusual transactions without your knowledge.

Save some money for a rainy day

It is also essential to reserve some portion of your money to be used for your personal or household finances. Aside from this, you also need to allocate an amount intended for emergency use in case your business needs it. Since you are still in the start-up stage, avoid using the money from your company, so you can compare your profit versus your expenses.

Having savings will also allow you get prepared in case worse things may happen while your business is running. This will help you avoid the risk of running out of money which may be a cause of its loss or failure to operate.

Every step you have to make involves finances. Therefore, time is another thing you have to value. You do not have to rush things to achieve success. However, you still need to make sure you can appropriately schedule your day to day activities.

Once you have already mastered all these things mentioned, you can now be ready for a smart investment. This could be for your retirement, insurance, or another business expansion. These are just some of the financial goals most entrepreneurs dream to achieve. Aiming and achieving these things are the rewarding gifts you got from your effort and self-discipline.

The Dark Side Of Entrepreneurship: 3 Sacrifices Every Entrepreneur Must Make to Be Successful

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image via Shutterstock / Kaspars Grinvalds

Let’s face it; the concept of being an entrepreneur is exciting for a lot of people. The notion that you’re the boss and you run your own business sounds quite appealing to a lot of people but unfortunately, there is a downside to entrepreneurship that most people don’t see.

As an entrepreneur, you need to go through a number of sacrifices otherwise you won’t eventually get to where you want to be. Now here are the 3 most common sacrifices every entrepreneur must face when they’re just starting out:

Work/Life Blur

Once you decide to become an entrepreneur then you need to be prepared for your private life and your work life to cross over all the time. If you’re just starting a new business then say goodbye to your private time for a while because you’ll be working 24/7 even when you’re not in your place of business. You’ll be thinking of new strategies, marketing techniques and ways of improving your business wherever you are and that’s just the tip of the iceberg because you’ll have dozens of phone calls and emails to attend to. At some point, when you’re business has finally stabilised then you’ll find a healthy balance between your business and your private time.

Unstable take-home pay

It’s common knowledge for entrepreneurs that you’ll probably lose money or at best break-even on the first five years of your business before you eventually start making money. If you’re starting a new business then you need to be in it for the long haul! If you want to make a profit in about a year or two then you need to create a powerful marketing plan that can penetrate the industry in a big way and earn you some much needed profits.

Sleep deprivation

Most people need at least 6 hours sleep, but as an entrepreneur, you may need to have a lot less. There will be a number of times when you’d have to sacrifice sleep so that you can look after your business properly. There will be some days when you need to stay up all night to work on urgent projects and there will be a number of nights when you’ll be lying awake thinking about your action plan the next day. When you start a new business – expect to sleep a lot less for the next couple of years!

On the brighter side of things, even though you need to make these sacrifices don’t be discouraged though, you’ve got to start somewhere to get somewhere right? Look at these sacrifices as a form of investment. Just sacrifice for now but as long as you stay committed to the overall picture then you’ll eventually reap the rewards.