It’s easy to budget when you have a steady paycheck, but what happens when you get paid every other month or make 10K from a major launch and crickets for another three months?
Today I’m chatting with Bola Sokunbi, Certified Financial Education Instructor and founder of Clever Girl Finance, a platform that empowers and educates women to make the best financial decision for their current and future selves and to pursue their dreams of financial independence in order to live life on their own terms. To date, Clever Girl Finance has reached over 100,000 women.
Bola and I discuss her early teachings of finances from her mother while growing up in Nigeria, why she started Clever Girl Finance, how she went full-time in Clever Girl Finance within a year, and the common mistakes entrepreneurs when starting a business.
Bola shared three tips for entrepreneurs wanting to transition from their 9-5 to full-time entrepreneur:
- Management expectations and expect inconsistent income.
- Create a business plan, one which forces you to plan how you will generate revenue.
- Make sure you can sell something to become profitable.
Bola also shared five common mistakes new entrepreneurs make
- Not having a business strategy before starting.
- Co-mingling personal and business finances.
- Overconsumption of information and no implementation.
- Not consulting with a lawyer prior to starting a business.
- Not having the right expectations for growth and success.
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