Podcast Summary
Investing tools, Side hustles, Ethical investing: Moby app offers jargon-free financial updates, hand-picked stocks, and has outperformed S&P 500, while side hustles and ethical investing can also help build wealth
Investing can be simplified with the help of tools like Moby, an app created by former Morgan Stanley investors that provides jargon-free financial updates and hand-picked stocks. Moby has consistently beaten the S&P 500 by over 11.9% for the past four years. Building confidence in investing is crucial for anyone looking to build wealth, and Moby can help do just that. Additionally, creating a seven-figure side hustle is another way to build wealth, and the Girls at Startup series provides insights on how to do so. The Girls at Startup business has recently surpassed the $3 million revenue mark, a significant milestone for the team. Investing in ethical and affordable alternatives, like Moistenite, is a more conscious choice for building a personal collection of valuable items.
Scaling and Impact: To scale a business, focus on both key performance indicators and impact metrics, as they contribute to the growth and success of the business, and make a meaningful difference in people's lives and the economy.
Scaling a business goes beyond just focusing on key performance indicators (KPIs) and revenue growth. It's essential to consider the impact a business has on people's lives and the economy. For the hosts of "Girls at Invest," scaling their business meant shifting their focus from self-focused metrics to impact measurements. They measure success by the number of people investing, the amount of money invested as a result of their platform, and the overall impact on the economy. This approach not only provides a sense of fulfillment but also helps ensure that their business is making a meaningful difference. To scale a business, it's crucial to look at both KPIs and impact metrics, as they both contribute to the growth and success of the business.
Clarity and Simplicity in Business: Focusing on clear goals and breaking down complex business concepts into simple steps is essential for scaling a business. Providing value through education and high-ticket products helps attract a larger audience.
Clarity and simplicity are key to scaling a business. The speaker shares her personal experience of growing her investment business by focusing on clear goals and breaking down complex business concepts into simple steps. She emphasizes the importance of providing value to her community through education and high-ticket products, as people are more likely to invest time and effort into things they perceive as valuable. The speaker's approach is effective because it allows her to explain her business strategies clearly to others and attract a larger audience. By reversengineering her goals and providing valuable resources, she was able to scale her business to seven figures.
Business growth opportunities: Find opportunities that align with your passion, expertise, and address a pain point to ensure effective leadership and offering value to customers
Identifying growth opportunities for scaling a business requires finding something you're naturally good at, have a passion for, and that helps people and addresses a pain point. Passion and expertise are essential for effective leadership and growth, and addressing a pain point ensures that your business is offering value that people are willing to pay for. For instance, an accountant with a passion for helping underrepresented groups and expertise in making clients feel comfortable could identify a growth opportunity by providing accounting services to the rapidly growing industry of online content creators, who face unique financial challenges and stigmatization. By focusing on these three elements, individuals can identify and capitalize on potential growth opportunities.
Scaling a Business: Mental readiness, passion, and commitment are essential for scaling a business. Be prepared to put in the work and have a clear plan, even when progress may not be immediate.
Scaling a business requires mental readiness, passion, and the ability to commit fully. According to the speaker, it's essential to have a clear plan and be prepared to put in the work, even when progress may not be immediate. Indicators of readiness include mental preparedness, having the time and energy, and a deep passion for the business. The world needs more simplified approaches to scaling, as outlined in a flow diagram, and a reminder that success doesn't come overnight. It's crucial to be authentic and interested in what you're doing, as this will make the journey more rewarding. In summary, scaling a business is a straightforward process that requires dedication, mental fortitude, and a clear vision.
Investment advice: Girls That Invest provides educational content about investing, but it's important to do your own research and consult with a financial advisor before making any investment decisions.
While Girls That Invest provides valuable educational content about investing, it's essential to remember that the information provided is general and not personalized investment advice. The team at Girls That Invest emphasizes that individuals should do their own research and due diligence before making any investment decisions. Additionally, it's crucial to consult with a financial advisor for personalized advice tailored to your individual circumstances. Overall, the goal of Girls That Invest is to empower and educate women about investing, but it's up to each individual to use that knowledge responsibly and make informed decisions.