Since I was in business school, I had wanted to start my own business.
When I started to burn out commuting to NYC, I started some side gigs.
- Educated Gift (a gift registry site for friends and family to contribute to a baby’s college fund)
- Apps for Tots (2 matching game apps for the Apple app store)
- Let’s Go Practice (a violin practice site for kids to play along with popular violin pieces)
And there were a few others too!
But I had:
- no experience with marketing,
- no clue, I had to talk to potential customers to get feedback.
Building the product was never the hard part.
My mistake was thinking that if I built it, they would come.
But if something comes easy, you are missing something.
Similarly, if you speculated and made money immediately, like those who invested in meme stocks, you didn’t learn anything about investing.
Most of those meme spectators are now broke.
I could have just given up.
RIP my dream of becoming a boss woman.
But I always remembered what Sara Blakely, founder of Spanx, revealed when she was growing up.
Her father asked, “What did you fail at today?”
According to one of my favorite books, The Subtle Art of Not Giving a F*ck by Mark Manson,
"Improvement in anything is based on thousands of tiny failures. The magnitude of success is based on how many times you’ve failed at something. If someone is better than you at something, then it’s likely because she has failed at it more than you have. "
When it comes to investing, everyone hates to lose money.
But early failures and losing money early can be valuable lessons -
An opportunity to learn from mistakes and make better investment decisions.
It was a no-brainer for me to start my investment management and financial advisory firm to serve women who are often underserved or ignored by big wall street firms.
My current business would not be as successful as it is
had it not been for the failures of these other businesses.
It should never to your goal to lose money or fail, but if you do, just make sure you learn from your mistakes.
There are real gems in the lessons.
Please reach out if you feel ignored by your advisor.
Your Friendly Wealth Engagement Guide,
Tiffany Kent
Tiffany@wealthengagement.com
Empowering women to take control of their future!
Disclosures: Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward-looking statements cannot be guaranteed.
This commentary offers generalized research, not personalized investment advice. It is for informational purposes only and does not constitute a complete description of our investment services or performance. Nothing in this commentary should be interpreted to state or imply that past results are an indication of future investment returns. All investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to consult with an investment & tax professional before implementing any investment strategy. Investing involves risk. Principal loss is possible.