Interested in starting your own entrepreneurial journey in financial services but unsure what to expect? Then read up on our interview with Joe Griffin, CEO of Tencap Wealth Coaching, located in Riverton, UT, USA.
What's your business, and who are your customers?
We are a comprehensive financial planning group. We work with high-net-worth individuals, families, and institutions to help them build and secure their wealth.
We are educators/coaches first and foremost. We specialize in spending time individually and as a company coaching and mentoring our clients such that they have a high-level understanding of financial markets and investments. This education empowers our clients to understand their money and approach financial markets prudently, not emotionally.
Our customers are the intellectual elite of Utah and Idaho. Each of our clients exchanges a significant amount of work and time in exchange for what they earn. We find great joy as a company in serving such a remarkable group of high-income earners.
Tell us about yourself
I have been in the investment world for over 15 years. I have experience leading multiple financial planning firms. I have had the joy of working with some of the bright minds associated with Utah's 529 plan - a plan that manages over 20 billion.
I have spoken with thousands of people over my career, each calling into a financial planning group for various reasons. That type of experience has been one of the greatest joys of my career. It has provided a unique level of depth into many Americans' situations, goals, hardships, and joys. In each conversation, I learn something valuable about each person or family's stories. Each conversation showcases something that helps me develop and grow as a person and helps the firms I am leading best serve our clients.
What's your biggest accomplishment as a business owner?
Without any mentoring or coaching, I have been able to create and streamline a highly successful marketing campaign in the financial planning industry. That success certainly has been built in association with many failures, but each failure provided the education and experience such that I have been wildly successful at building and managing financial planning firms. I have been a part of taking a company from 300 million in assets under management to just under a billion. I am very proud of the results that my team(s) and I have been able to produce, including having multiple years of transferring over 150M in new money.
Above all, building out and mentoring my team(s) has been the highlight of my career. I have many lifelong friends that I have had the joy of hiring as my teams have expanded. Being a small part of their path to success is extremely fulfilling and keeps me excited about each day at work. At tencap.com, we have an entire team committed to your financial planning, tax strategy, and money management.
What's one of the hardest things that comes with being a business owner?
The time commitment and emotional strain that come with managing a business. I have never spoken to a business owner that has not felt the pressures of running or managing a company. However, it's also a great honor. America is built on the backs of great leaders and entrepreneurs. As such, I consider it a great honor to be leading and managing excellent companies.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Find mentors that can help give you wise advice. That advice will save you time, exposure, and money.
- Running an excellent company is about having excellent people working with you; live by that. Never compromise on your standard of excellence. In the few times I have been working with managers that are dysfunctional, it has come at a great cost. Hire excellence and mentor excellence.
- Work proficiently. I don't mean being in the office "working"; I mean working proficiently and productively. Keeping ourselves in check on that will help each of us ensure that we are working proficiently and productively; the result is progress and excellence.
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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