Struggling to make money is something all entrepreneurs go through. Hilary Hendershott, the founder of Hendershott Wealth Management, helps females and couples take control of their finances and make their money work for them. Today, Hilary sits down with Keri to discuss helping entrepreneurs invest in themselves and their businesses so they can be financially successful. Focusing on profit first and investments are some ways suggested- tune in to this episode to learn more from Hilary.
For more inspiration listen to this week’s episode here.
In This Episode:
- [04:05] Hilary discusses with Keri why it’s so hard for women to invest and generate wealth for themselves and the inequity between male and female earnings
- [07:21] Hilary talks about the early years of a business and how entrepreneurs can strategize with their money to keep their debt low and remember to pay themselves from their business
- [09:39] Committing to eradication entrepreneurial poverty by teaching the mentality of Profit First by Mike Michalowicz
- [12:33] At one point Hilary was $600,000 in debt and now runs a seven-figure business and has multiple seven-figure assets
- [18:36] Keri asks Hilary to explain her Seven Steps to generate wealth
- [27:39] Hilary explains more about investing as an entrepreneur
WATCH this week’s episode here
Key Takeaways:
- Women should believe and invest in themselves rather than think they don’t deserve the money they do because of patriarchal ways. Closing the earnings gap means feeling like you can pay yourself a lot of money from your business and not always putting it right back into your business.
- Helping business owners focus on profit first, paying themselves first- as a mindset, has helped end entrepreneurial poverty.
- Investments are a way an entrepreneur can truly make passive income and allow them to have that separately from their business. If done well- some can make more passive income in their investments than their salaries alone.
Meet Hilary Hendershott
Hilary Hendershott is the founder of Hendershott Wealth Management, a leading financial advisory firm for women and couples. With 21 years of experience as a fee-only fiduciary financial advisor and stock market expert, Hilary’s mission is to empower women to take control of their finances and make their money work for them.
As her career in the financial services industry developed, Hilary became increasingly aware of a unique gap in the marketplace. Hundreds of thousands of women were eager to make wise investment decisions, but the male-dominated financial industry wasn’t equipped to meet their needs. Her solution? Opening her own firm. Founded in 2014, Hendershott Wealth Management is one of the first and only female-focused Registered Investment Advisory firms in America.
Hilary has helped women across the U.S. preserve and grow their wealth while reducing—or even eliminating—financial stress. She leverages her education, personal experiences, relationships, and “got your back” know-how to grow her client’s financial wealth and champion their financial freedom.
Hilary hosts Profit Boss® Radio, a weekly podcast where she and her guests offer inspiration and actionable advice to support women in their financial journey. She’s also a TEDx speaker, and has been featured in the Wall Street Journal, NBC, ABC, FOX, DailyWorth, Forbes, and Investopedia.
Hilary was recognized as a Top 40 Under 40 Entrepreneur in Silicon Valley and in 2018, 2019 and 2020 Investopedia named her one of the Top 100 Most Influential Advisors in the US. With more than 30 television appearances, she’s considered the go-to personal finance expert in Silicon Valley for NBC, where they have nicknamed her “The Investor’s Voice of Reason.”
Hilary has an MBA from Santa Clara University, and is a Certified Financial Planner.
Important Links:
- Website: www.hilaryhendershott.com
- Profit Boss® Radio – THE Podcast for Women and Money: https://podcasts.apple.com/us/podcast/profit-boss-radio-the-podcast-for-women-and-money/id1079495663
- Instagram: https://www.instagram.com/hilary.hendershott/
- Facebook: https://www.facebook.com/hilaryhendershott/
- LinkedIn: https://www.linkedin.com/in/hilarythecfp
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