“I certainly did not set out to be an investor. It was more of like, I can see so much potential in the business, and after working with someone you know that they’re just lacking that support or maybe lack of specific resources, whether it’s just money at that point in time or human resources, which I have, right?
So, I’m like, sometimes they really could not afford some of my fees. So, I’m like,
“Okay, instead of that fee, maybe I would come into your business and see how I could help you and we can work on an equity basis.”
So that’s really how I started with one.”
– Michelle Hon
Welcome to a brand new episode of the Cash Flow CFO Podcast. Joining me today is Michelle Hon. Michelle is a former stay-at-home mom and now an internationally recognized speaker, author, and business consultant for mom entrepreneurs looking to expand their clientele and enhance their income without compromising family time. With her in-demand methodology, she has assisted hundreds of mentees in scaling their businesses to six figures and beyond. She has been in numerous publications, including Asian Money Guide, Lifetime, and Channel News Asia. She was ranked among the top 10 mom influencers in the world, and the World Women’s Organization Global Leadership Conference honored her with the mentorship award in 2022 for the contribution she has made.
In this episode, we’ll talk about Michelle’s typical workday with her current clientele, some of the obstacles she’s helping them overcome in their businesses, and how she uses her skills and knowledge to assist her clients in reaching their goals more quickly, and much more!
Join us to learn the whole story!
“What we worked on and teach people what to do and we should actually do what we teach people, is just really look at our system and see how can we leverage. What else can we do here? When you have the system down, it’s really about how we scale this, right?
And I feel like a lot of times it’s my own mindset that could be holding me back. It’s scary that even though you have done those numbers before, the following year could be like, how much should I put into the market budget? Would I still spend as much? Would it still be as ideal?”
– Michelle Hon
The Value of Persistence for Entrepreneurs
Tenacity is a crucial quality of any successful person and is essentially the core of great entrepreneurs’ mindsets. The tenacious mindset emphasizes persistence and work ethic above all else. An entrepreneur’s most valuable and potent quality is a strong work ethic, which is the drive to succeed.
According to Andrea, the key is to persevere in running your business since you are creating an asset that can be sold, leveraged, or funded as needed. Beginning with the end in mind is what you do.
“We’ve all on our journey, been through that. Like,
“Nothing’s working. I should just forget this whole thing!”
And it’s really having that tenacity to stick with it because you’re building an asset that can be sold, leveraged, or financed when you want it to. You’re starting with the end in mind. All of the decisions that you’re making. Every day you look at it and go,
“Does this fit my ultimate goal?”
And it makes it so much easier rather than just kind of floundering around and just going through the motions, of the day-to-day of running a business.”
– Andrea Jenson
Want to get in touch with Michelle Hon?
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