We've hosted several amazing and complimentary career coaching sessions, and this week, we continue with insights from entrepreneur coach Ali Brown.
For over 15 years, Ali has guided numerous women to build businesses that generate millions annually. Discover how to differentiate yourself online, tackle tall poppy syndrome, prevent burnout, and apply the 80/20 rule effectively. In our Mailbag section, we'll also address queries about budgeting during retirement, the right age for young adults to get their first credit cards, and how to cope with feelings of guilt regarding financial success. Plus, if owning a home feels out of reach, stay tuned for our Thrive segment.
P.S. Don't miss your chance to win two floor seats at almost every stop of the Rolling Stones No Filter Tour this summer! Enter at https://hermoney.com/rolling-stones/.
Transcript
Jean Chatzky: (00:08)
This episode is brought to you by Fidelity Investments. Demand more from your money by understanding what you own and owe. Discover more at fidelity.com/demandmorenow. Welcome to our podcast! I'm Jean Chatzky, here in Manhattan. Are you ready to elevate your side gig into a full-time pursuit? We have the perfect guide, Ali Brown, known as the entrepreneurial guru for women. A Forbes 'woman to watch,' she's helped countless seven- and eight-figure revenue leaders thrive. Welcome, Ali!
Ali Brown: (01:29)
Wow, I can't believe I'm here with Jean Chatzky!
Jean Chatzky: (01:31)
Oh, stop.
Ali Brown: (01:31)
Seriously, I've been inspired by you on The Today Show.
Jean Chatzky: (01:33)
Thank you for being here! I'm eager for some coaching insights.
Ali Brown: (01:44)
Absolutely!
Jean Chatzky: (01:44)
Many listeners share that they feel they aren't maximizing their potential, which can be frustrating.
Ali Brown: (02:09)
I understand that feeling well.
Jean Chatzky: (02:12)
What was a pivotal moment for you before becoming an entrepreneur?
Ali Brown: (02:44)
I struggled through various jobs, questioning my fit. I realized my desire to improve processes didn't align with my employers' expectations.
Jean Chatzky: (02:33)
What pushed you to start your own venture?
Ali Brown: (03:50)
Inspiration struck when I noticed freelancers thriving while I struggled. I took risks, knocking on agency doors and securing projects.
Jean Chatzky: (03:50)
Did you have a moment of realization that you needed to break free?
Ali Brown: (03:56)
Yes, when a client praised my work, I knew I could succeed independently.
Jean Chatzky: (04:38)
Did you feel financially ready when you left your job?
Ali Brown: (05:42)
Not at all! But sometimes, financial pressure leads to bold actions.
Jean Chatzky: (06:32)
How did you transition from being broke to landing your first client?
Ali Brown: (07:15)
I started taking small projects while moonlighting at an agency.
Jean Chatzky: (07:25)
Did you find it challenging to network and promote yourself?
Ali Brown: (07:26)
Absolutely! I learned to talk about my value and what I offer.
Jean Chatzky: (08:19)
Who do you think these online entrepreneurs are?
Ali Brown: (08:26)
They're often aspiring coaches and influencers, but many get lost in the noise of the digital space.
Jean Chatzky: (09:23)
They often confuse hobbies with businesses.
Ali Brown: (09:30)
Exactly. If a business doesn't generate income, it's not a business.
Jean Chatzky: (09:30)
When you started coaching, what was your approach?
Ali Brown: (09:53)
I found women naturally seek support and advice, which led me to coaching.
Jean Chatzky: (10:59)
We have a listener question about feeling guilty about financial success. Is this common among your clients?
Ali Brown: (11:21)
Yes, many feel isolated when they achieve success. It can be lonely.
Jean Chatzky: (11:37)
What is tall poppy syndrome?
Ali Brown: (11:37)
It's the discomfort felt by successful individuals, often leading to isolation.
Jean Chatzky: (12:21)
What advice can you give to women seeking support?
Ali Brown: (13:30)
Find new circles of successful women who inspire you.
Jean Chatzky: (13:31)
What steps can women take to stand out in competitive fields?
Ali Brown: (14:11)
Focus on creating your unique category, standing out as exceptional.
Jean Chatzky: (14:18)
How do we avoid blending in?
Ali Brown: (14:19)
Identify what sets you apart and maximize that strength.
Jean Chatzky: (14:23)
What is the best way to find your unique strengths?
Ali Brown: (15:31)
Reflect on moments where you excel and lose track of time.
Jean Chatzky: (16:19)
Could you elaborate on excellence burnout?
Ali Brown: (16:24)
Many successful individuals hit a plateau, feeling bored or unchallenged.
Jean Chatzky: (17:29)
What strategies are currently working for your clients?
Ali Brown: (18:00)
Most clients are near or above seven figures. We focus on Pareto's Principle, identifying the 20% of actions that yield 80% of results.
Jean Chatzky: (18:28)
That sounds essential.
Ali Brown: (18:29)
Yes! It helps focus on what truly drives success.
Jean Chatzky: (20:22)
Where can our listeners find more of your wisdom?
Ali Brown: (20:26)
Visit alibrown.com or connect with me on Instagram at alibrownofficial.
Jean Chatzky: (20:58)
Thanks for your insights, Ali. Hope to see you again soon!
Ali Brown: (21:03)
Thank you for having me!
Jean Chatzky: (21:04)
Stay tuned for Kelly and your mailbag questions.
Jean Chatzky: (21:11)
Kelly's joining me now for the mailbag. Hi Kel.
Kelly Hultgren: (21:15)
Hello! How are you?
Jean Chatzky: (21:16)
I'm good, just navigating a busy day.
Kelly Hultgren: (21:20)
Life happens!
Jean Chatzky: (21:23)
Let's dive into some questions.
Kelly Hultgren: (21:36)
First up from KL. I've been unemployed for over 11 years. My home is paid off, but I have around $6,000 left before tapping into long-term savings. I'm selling my home. What should my budget look like?
Jean Chatzky: (22:05)
I can't provide specific numbers without more details. Track your spending for a month to create a reasonable budget.
Kelly Hultgren: (23:49)
Next question from Robin. When should a young adult get a credit card? Our son is graduating soon and will need to manage his own expenses.
Jean Chatzky: (24:21)
I believe he should have a credit card to build his credit history. It's essential for renting and other financial activities.
Kelly Hultgren: (25:59)
Finally, we have an anonymous question about discussing money. They feel uncomfortable because they've achieved financial success compared to friends and family.
Jean Chatzky: (26:47)
It's important to talk about feelings surrounding money, not just figures. Start these conversations with your spouse and expand to trusted friends.
Kelly Hultgren: (28:20)
Don't shy away from celebrating your achievements. Those who care about you will support your journey.
Jean Chatzky: (29:59)
It's okay to own your success and use it for good.
Kelly Hultgren: (30:14)
Thanks for your insightful questions! You can send your queries to info@savinghunt.com.
