Interested in starting your own entrepreneurial journey in finance but unsure what to expect? Then read up on our interview with Libby Wildman, Head of Wealth Advisory of Davis Rea Investment Counsel Ltd., located in Toronto, ON, Canada.
What's your business, and who are your customers?
We connect people with a sense of what money means to them. We all grew up with some kind of money drama or even trauma in our lives. Understanding how money can work for us, how to grow it, be mindful of it, share it if we can, and make sure it looks after us in a meaningful way, is a worthy pursuit that most of us never bother to spend time on. Our clients care about growing their money to live their best life and give back where they can.
Tell us about yourself
I was introduced to money trauma at an early age. Two of the adult women in my life who had no way of financially supporting themselves, were indeed very vulnerable. They had no ability to make life decisions, based on the fact they were not in control of any money, nor were they able to be gainfully employed. Out of crisis, empowerment can follow. This vulnerability forced them to get involved with their finances, become educated on dangerous debt levels and eventually arrive at a place of confidence and self-sufficiency. When people share their money stories with me, it is an honour to co create with them a plan that brings clarity, has a clear strategy, and accomplishes the financial goals so important to them. I look forward to this journey every time I meet someone new, and marvel at the changes that can be implemented that bring peace, joy, relief, and excitement around their financial futures. Money is a tool; it is not good or bad. It is to be managed and protected. Money without insurance is a fool's game that has many pitfalls to it.
What's your biggest accomplishment as a business owner?
I was a single mom to 3 children for 17 years. I know what it feels like to lie awake at night and worry if there is enough now for them and if there will be enough in the future for me. Twice divorced with no financial support, it was through living my own advice and discipline that I grew my business and my own personal financial wealth while also being a present Mom. We now attract more women than men who are keen to get control of their finances and grow their wealth. We are not a bank on purpose. As a Fiduciary Investment Counsel Firm, we must, and we do legally act in your best interests always. We help people achieve their financial goals faster.
What's one of the hardest things that come with being a business owner?
Work is never done, it is never 5 O'clock, and there are always people who need our help and guidance. Creating boundaries and no-fly zones, where I take planned escapes, go off the grid, and recharge, are a must. My job is lead people where it will serve them best; it is not my job to force them. In the end, clients have to commit to themselves, and it is heartbreaking when they are their own worst enemy and cannot, or will not, change dangerous habits.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
Passion must be at the center of what you do. You want to be clear about the problem you want to solve and then be ready to strap in for a ride. Life is never a smooth piece of glass and entering into entrepreneurship is a blessing that comes with many heartaches. Know that, and then just keep on going. Those that fail give up just before the light is about to shine; the problem is we never know when the light is about to show itself.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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