Podcast Summary
Managing investments efficiently with Sharesight: Sharesight offers a comprehensive investment tracking system, saving time, providing valuable insights, and offering a special deal for new investors.
Having a comprehensive investment tracking system like Sharesight can make managing your investment portfolio more efficient and provide valuable insights beyond brokerage statements. Sim, a successful business owner, shared her experience of starting Girls That Invest during the 2020 pandemic and how she wasted time in the beginning by overthinking insignificant matters instead of focusing on her business idea. Meanwhile, Sharesight offers a solution for investors by organizing and accessing their entire portfolio in one place, offering analyzed reports, dividend gains, and tax reporting. For new investors, Sharesight is currently offering a special deal of 4 months free when purchasing an annual premium plan. By using such a tool, investors can save time, gain deeper insights, and make informed decisions about their investments.
Focusing on non-essential tasks early on can be a waste of time and resources: Prioritize core mission and goals to avoid wasting time on non-essential tasks like designing a website or registering as a sole trader without proper planning
Focusing too much on the aesthetics and non-essential aspects of starting a business, such as designing a website or registering as a sole trader without a clear mission, can lead to wasted time and resources. The speaker's experience with Girls That Invest illustrates this lesson. She spent countless hours creating a website and setting up social media accounts without a clear understanding of her business's mission or target audience. This resulted in a subpar website that ultimately went unused. Instead, she could have spent that time conducting market research and engaging with potential customers to determine their needs and interests. Additionally, registering her business as a company instead of a sole trader could have provided her with greater protection and tax benefits, but she overlooked this option due to the initial cost. Overall, it's essential to prioritize the core mission and goals of a business and avoid getting bogged down in non-essential tasks.
Registering a business as a company early on: Registering a business as a company early can save on taxes later, but comes with added responsibilities. Overcome fear of self-promotion to grow.
Early-stage entrepreneurs and side hustlers should consider registering their businesses as companies, even before they start making significant profits. The speaker shared her personal experience of not doing so and regretting it due to the higher tax implications. However, she also acknowledged that starting a company comes with additional responsibilities, such as filing tax reports, having an accountant, and doing bookkeeping. Another important takeaway is the importance of self-promotion. The speaker shared how she hid away from sharing her side hustle, Girls That Invest, due to embarrassment and shyness. She missed out on potential opportunities and growth by not promoting herself and her work. It's essential to overcome the fear of self-promotion and share your passions and projects with others, as it can lead to new connections, collaborations, and growth.
Overcoming Embarrassment and Shyness to Share Your Message: Embrace vulnerability, push through fear, and trust that your message has value to share with others, even if your endeavor doesn't succeed initially.
Promoting yourself and overcoming shyness or embarrassment are essential steps in sharing your message with the world, even if you're starting from scratch. The speaker shared her personal experience of starting a podcast and feeling hesitant about sharing it due to its small following. However, she was fortunate to have supportive friends who helped spread the word and believed in her mission. The speaker also drew inspiration from Patricia Bright, a successful YouTuber who felt embarrassed when starting out but eventually made a significant impact. The speaker's message is that everyone experiences fear and embarrassment when putting themselves out there, but it's important to push through and not let it hold you back. Remember, even if your endeavor doesn't succeed, the experience and the connections you make along the way can still be valuable. So, embrace your vulnerability, keep going, and trust that your message has value to share with others.
Learning to enjoy the process of building a business: Embrace the journey, be proud of your business accomplishments, and use innovative solutions like tap to pay on iPhone and Stripe to simplify and grow your business.
Embracing the journey and the process of building a business, even in its early stages, is crucial for entrepreneurs. This was a lesson the speaker learned the hard way when they ran a media company focused on investing. They regretted not enjoying the process and being proud of their podcast, which was not as prominent as it is today. However, they now recognize that every business transaction represents the culmination of hard work, dedication, and commitment to customers. To help businesses, especially small ones, overcome the challenges of accepting payments, the speaker introduces tap to pay on iPhone powered by Stripe. This game-changing solution enables businesses to accept contactless payments directly from their iPhones, with no additional hardware required. It caters to businesses of all sizes, from local pop-ups to global retailers, and offers benefits such as increased revenue, expanded reach, and enhanced customer experience. The speaker encourages business owners to embrace their journey, be proud of their accomplishments, and take advantage of innovative solutions like tap to pay on iPhone and Stripe to simplify and grow their businesses.
Focus on the impact of your work, not on critics: Don't let criticism from non-customers or investors deter you. Instead, focus on the benefits and impact of your work for your intended audience.
It's important to focus on the impact of your work and not on the opinions of those who don't understand or appreciate it. The speaker shared her experience of receiving criticism for her job, but also the positive feedback she receives online. She realized that it's not her job to be liked by everyone and that the opinions of those who aren't her customers or investors don't matter. She also mentioned the book "The Mountain is You" by Brianne West, which emphasizes the idea that it's not necessary to be liked by everyone. The speaker also shared how she learned to care less about what others think and instead focus on the benefits and impact of her work. An example of this mindset in action could be if someone is starting a podcast and receives criticism from friends or family who don't see the value in it. Instead of getting discouraged, they can remind themselves that it's not their concern if others don't understand or appreciate their work, as long as it's providing value to their intended audience.
Embracing Personal Growth Despite External Criticisms: Maya's experience of encountering dismissive comments about her work taught her to let go of negativity and find peace of mind. Balance caring about others' opinions with staying true to oneself.
Focusing too much on external criticisms and concerns can hinder personal growth and peace of mind. Maya shared her experience of encountering dismissive comments about her work promoting indigenous perspectives on health and well-being. Instead of letting these comments affect her, she learned to let them flow through her without holding onto the negativity. This mindset shift has allowed her to feel more empowered and at peace, even when faced with criticism. Additionally, Maya emphasized that it's natural to care about what others think, but it's essential to find a balance between considering their opinions and staying true to oneself. She shared three lessons from her first year of business: not to overemphasize productivity, to register a company only when necessary, and to be proud of one's accomplishments. Overall, Maya's episode encouraged listeners to embrace their passions, let go of external criticisms, and find balance in their personal and professional lives.
Empowering Financial Growth through Education and Community: Join the Girls That Invest podcast for valuable financial insights, educational resources, and a supportive community of financially independent individuals.
The Girls That Invest podcast is not just for entertainment, but a valuable resource for those looking to grow their wealth and join a community of financially independent individuals. Maja and the team put in effort each week to provide useful information for their audience. They encourage feedback, both positive and constructive, to help them improve and better serve their community. The podcast is for educational purposes only and should not be relied upon to make financial decisions without proper research and due diligence. So, if you're looking to learn and grow financially, consider tuning in and engaging with the Girls That Invest community. And don't forget to spread the word!
