Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Susan Ritter, Founder of Wealthy Wise Woman, located in Crystal River, FL, USA.
What's your business, and who are your customers?
Wealthy Wise Woman brings women together in small groups to become financially literate and knowledgeable investors so they can participate in the exciting shifts going on in the world. In the process, poor money mindset myths are replaced with confidence and shared excitement for what is learned and its financial results. Wealthy Wise Woman is a combination of high-technology systems and high-touch relationships. Every client is a friend, someone who belongs and has a family of other independent women to connect with, to share wins, losses, fear in times of volatility, and non-judgmental support when needed.
In the next couple of years, Wealthy Wise Woman will expand to bring experienced clients in as mentors. By pooling skills and resources, we will have the funds to teach and fund women entrepreneurs worldwide. Today, access to investment money for women is still only a fraction of what it is for men. Our woman-focused community intends to bring money mindset, money knowledge, and money itself to women so that they may have the opportunity to make the changes they want to see in the world for themselves, their families, and their communities.
Today, we are making this impact through the B1G1: Business for Good micro-charity organization, supporting many projects that educate women and girls in practical skills that lift up their communities around the world.
Tell us about yourself
On 1st January 2018, I never dreamed I would become an entrepreneur. I had just retired from a 30-year career in project management, 20 of which was in the nuclear power industry. But that chapter of my life was complete. I had done all the right things to ensure I could retire early, spend the decade traveling the world with my teenage son, and build our lives as global citizens.
By August, we had relocated to Penang, Malaysia. We were enjoying the life of travel, world schooling, and finding ourselves in a beautiful community of local and ex-pat mission families. But after six months, I realized that I needed something more challenging. While surfing the web one rainy afternoon, I came across a documentary series called Money Revealed and was introduced to a man that would change the trajectory of my life. Roger James Hamilton, futurist and founder of Genius Group, was one of the individuals being interviewed in the documentary, and everything he said aligned with my vision of the world as it was and as it could be.
I found myself in Singapore at the GeniusU conference in September, where I jumped in with both feet. I joined GeniusU with no idea for a business but with a lifetime of skills and a desire to spend time with the people I found in this community. Following one path and then another, I could try out different ideas, contribute to other projects like Genius School and Genius Camp, and build entrepreneurial skills in marketing, sales, customer identification, and customer nurture.
For two years, I consumed all the content and mentoring I could find. In mid-2020, I found my niche as an educator of women in financial literacy and founded my business 'Wealthy Wise Woman.'
What's your biggest accomplishment as a business owner?
I love that my business has given me the opportunity to achieve my life goal of becoming a global citizen. Whereas I thought I would need to live on every continent to create a global community, my business provided the path to the goal from my dining room table. Today, Wealthy Wise Woman has amazing clients on every continent, from Australia to North America, South Africa to the UK. Wherever they are in the world, my clients have gained the confidence to take back control of their money and become investors in many of the most exciting opportunities available today. The world is disrupted, and most people either ignore it or fear it. By doing what we do at Wealthy Wise Woman, women are not only embracing the changes but leveraging them to create the world they want for themselves and their future.
What's one of the hardest things that come with being a business owner?
Building a business is like raising a child. It is a full-time job for much longer than you expect. I thought I'd be relaxing and traveling the world. Instead, I build marketing plans, create products, and teach my wonderful clients. It is a work in progress that can be completely consuming. But when we exited covid lock-downs, and I asked myself if it was time to put the business aside and return to our life of leisure, I couldn't let it go. I love my business, the opportunities it has provided, and the wonderful people I have met because of it. I don't expect to retire again for a number of years and only after this baby is grown and thriving on its own.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
The big one is to Find Coaches. There is so much to know. It can be overwhelming, but a coach will help you cut to the chase and focus on what is important. There is no reason to reinvent the wheel; just do what those before you have done. Second, take your time. This isn't a race; it is a journey. Focus on the purpose and finding the perfect customer you want to work with. This is your business; you get to pick who you spend your day serving and interacting with. Third, create a plan, write it down, and follow the plan. It will give you structure, a path, and a goal to assess whether you are going forward or backward. Don't beat yourself up when things don't seem to be advancing. Just a little movement every day will get you where you are going. Be patient and enjoy the journey.
Is there anything else you'd like to share?
If you are a woman who wants to make a positive impact in the world, you need to use all your resources at hand. Although you are probably most accustomed to applying your time, your impact can be multiplied when you apply your money. Learning how to use the money to create more money is key to long-term financial security, growth, and impact. If you are uncomfortable or don't know how to get your money working, I encourage you to call me, and we can talk about where you are and where you want to go. I know there is a way to get you from here to there much faster than you think today.
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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