Who are you and what business did you start?
Karen Eley; started Oct 2019
What’s your backstory and how did you come up with the idea?
Was a financial adviser for 18 years, working in financial services. I noticed many clients had money issues that couldn’t be fixed with numbers, better returns or spreadsheets – there’s an emotional and behavioural side to managing money. So I undertook more study (psychology of money) so I could serve client’s in a different way to I did as a financial adviser. I’m pretty much a financial therapist these days. Supporting clients financial behaviours, patterns and habits and helping them move to ones that better help them have financial outcomes that provide them security and freedom – then I teach them how to do it with the practical knowledge and strategies. Our childhood influences what we believe about money, but this is unconsciously drives our financial decisions and behaviours.
Describe the process of launching the business.
Sold my financial planning practice, set up a new website and new networking (which got challenging in 2020) and seminars which turned into webinars; learnt about online marketing, used mentors to help.
Since launch, what has worked to attract and retain customers?
Doing the right thing by clients and they refer their friends to me; collaborate with other businesses that compliment what I do, paid and organic marketing, developing relationships with the media/ journalists
How are you doing today and what does the future look like?
The business is still growing, but bringing in a regular flow of clients. I’m about to form a relationship with a digital advice provider which will provide provide better client outcomes as well as increase revenue X10+ I’d also like to train and develop more ex-financial professionals to also do this important work.
Through starting the business, have you learned anything particularly helpful or advantageous?
Have mentors and a tribe of other entrepreneurs – doing it on your own can get lonely, and its important to have other peoples perspective, experience and ideas
What platform/tools do you use for your business?
Webflow for website; keap, infusionsoft for database; buffer for social media
What have been the most influential books, podcasts, or other resources?
Profit First, Mike Michalowicz; Perspectives Podcast by Sharon Pearson; James Clear – Atomic Habits
Advice for other entrepreneurs who want to get started or are just starting out?
Really understand what your clients need – what are their challenges and how can you help them; then how to communicate and articulate what you do; Be prepared to try and test things, but don’t be committed to them if they fail,