Interested in starting your own entrepreneurial journey in the personal finance space, but not sure what to expect? Then read up on our interview with Sandy Yong founder at The Money Master, based out of Toronto, Canada. Sandy helps millennial women with their personal finance and investments so that they can confidently grow their wealth.
Tell us all about your business...
I help female millennials create wealth through investing in the stock market, real estate and to start their own business. I believe that it is important for our generation to learn to create multiple streams of income so that they can become financially independent. It can be intimidating and overwhelming to manage your money. I'm here to make it easy for individuals to get started and build their confidence so that they can see their money grow safely over time.
What's your background and motivation to grow as a solopreneur?
I earned a business degree at Ryerson University in Toronto, Canada. After graduation, I started my career and began saving my hard-earned money. I naively invested in high-fee, high-risk mutual funds and soon lost thousands with the bumpy roller coaster ride of the stock market. Feeling frustrated and upset, I decided to take my money matters into my own hands and became a self-directed investor.
I successfully generated a 6-figure investment portfolio by the age of 27. Since then, I have been an avid real estate investor owning several rental properties with my husband. As a Keynote Speaker, I teach female millennials how to invest in the stock market and in real estate. With my decade of experience and expertise, I published my award-winning book, The Money Master: Inside Secrets On How To Make Your Money Grow and Stay Safe.
I have been featured in numerous media outlets including Toronto Star, NBC News and Yahoo! Finance. In addition, I proudly partner with CAMH: The Centre For Addiction and Mental Health. For every book purchase, I personally donate $2 to assist this charity with mental health research. My vision is to help people feel comfortable conversing about money and mental health, as both can be sensitive subjects and have an impact on our daily lives.
What's your biggest accomplishment as a business owner?
I've partnered with the big banks in Canada to educate adults on how they can start investing in the stock market and manage their money wisely. I've also spoken at various educational institutions to talk about saving, budgeting and entrepreneurship.
What's one of the hardest things that come with being a solopreneur?
Having the discipline to keep persevering. As an entrepreneur, the path to success is not straight forward. You may go through many failures and pivots in order to find success. It's important to understand your "why" and what makes you get out of bed each morning to keep going. Remind yourself of your purpose. Don't let any nay-sayers stop you from achieving your dreams.
What are the top tips you'd give to anyone looking to start, run or grow a small business today?
1. Take action! If you have a brilliant business idea, don't let it stay in your head. Find out the information and resources you need to get started and do it.
2. Get it down, then get it right! You don't have to have a perfect solution or prototype from the get-go. You can always get feedback from your potential clients and tweak your business model along the way. If you wait until everything is perfectly aligned, you'll be waiting forever.
3. Be a problem solver. Figure out what troubles your customers. What solution can you bring to the table? How will it help to fulfill their needs, wants and desires? If you can provide a unique solution and solve people's problems, they will gravitate to you.
If there was one thing you could do repeatedly to help grow your business, what would it be?
Staying connected and engaged with my audience through social media while providing financial literacy tips to help them improve their knowledge about money and investing.
What are some of the things you put in place to maintain a healthy work/life balance and to keep it all together?
I like to meditate to help calm my mind and body. It helps me focus and relax at the end of the day.
I also like to write in my "Five Minute Journal". Everyday, I write 3 things that I'm grateful for, 3 things that will make today great and an affirmation. This helps me prioritize the things that are most important to me and to practice being grateful for the things that I have in my life.
Who are some of your favorite entrepreneurs and best business resources/books?
A few of my favourite entrepreneurs would be Oprah Winfrey, Elon Musk and Warren Buffett.
I have a ton of resources that I recommend on my webpage: https://www.sandyyong.com/resources
Where can people find you online?
Company Website: www.sandyyong.com
Amazon Kindle: https://www.amazon.com/Money-Master-Inside-Secrets-Investing-ebook/dp/B082FM1FN6
Facebook: www.facebook.com/themoneymasterbook
Instagram: www.instagram.com/themoneymasterbook
Twitter: www.twitter.com/MoneyMasterBook
Linkedin: https://www.linkedin.com/in/sandyyong1/
If you like what you've read here and have your own story as a solopreneur that you'd like to share then email community@subkit.com, we'd love to feature your journey on these pages.
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