Financial Coaches Network - The Podcast: Build your Financial Coaching Business

Josh and Emily briefly discuss “what is an HSA?” and then dive into what financial coaches should think about when talking to clients about HSAs, including potential red flag areas. Top things to think about You have to have a high deductible health plan (HDHP) to qualify for an HSA. Feel free to do the math, but anything beyond, “the simple math says it’s worth it/not worth it,” may be best left to a comprehensive financial adviser. Consider the implications of possibly switching insurance to a HDHP–what does it impact beyond cost? HSA contributions are not part of the standardized deduction. If you’re going to use all of the money you contribute to an HSA, you should probably be using a lower deductible plan and contributing to an FSA instead of the high deductible plan and an HSA. HSAs make the most sense when there is enough free cashflow to pay for medical expenses out of pocket and contribute to the HSA to invest for the future (and this is when you need an investment licensed person to give advice). Broadly speaking, the same expenses qualify for FSA and HSA reimbursement (but you can’t legally double dip). Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Short and sweet! Josh and Amelie discuss the new-as-of-2024 Beneficial Ownership Information reporting rules. If you are a sole proprietor OR a partnership, this doesn’t apply. BUT if you have an LLC, you need to make sure you are complying or you’ll face really stiff penalties. Top things to think about If your business was formed in 2024, you should be good to go (you have 30 days to do it). The penalty of not doing this on time is $500. Per. Day!!! If ownership changes (new owner coming in or owner coming off), you have 30 days to re-file. If your business was formed before December 31, 2023, then this takes effect in January of 2025. Ideally, you hire an attorney to handle this for you. Resources mentioned in this episode: FinCen BOI site Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow 

 With the Memorial Day holiday, we’re pulling out a rerun of one of our most popular episodes!  Join Josh and Garrett as they discuss the importance of investing in yourself and your coaching business. The most important takeaway is that the #1 thing that limits the growth of businesses is the business owner’s time! 3 key takeaways: Business finances are different from personal finances! Starting: Focus on short-term wins that provide a return on monetary AND time investments. Examples: minimum viable marketing, processes that allow you to NOT reinvent the wheel with every client, set up systems to prevent you from getting sued, calendar system, access to resources that provide you with support like FCN Launch or the AFCPE Going full-time: marketing-related (how to get more people into your pipeline) sales support (training, tech and systems/CRM, automations for follow-up) things around reclaiming time (bookkeeping services, automation, VAs) Resources mentioned in this episode: FCN Podcast Episode #11: What is Marketing vs. Advertising vs. Sales? AFCPE FCN Launch  Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow 

Josh and Emily discuss the sometimes-awkward question of “So, what do you do?” How can we answer that question in a way that actually answers the question and doesn’t lead people to assume you do things that you don’t actually do (investments, life insurance etc.)? Top things to think about: Think about the context of where you’re having the conversation. Consider, “I’m a financial coach who…” or “I have a business that…” to avoid sounding sales pitchy. The more specific your “I help people with…” statement is, the less salesy it sounds. At a networking event, it’s hard to give any statement that will be beneficial for anything other than just meeting people because literally everyone is there to find out “are you business or can you send me business?” At an industry convention, consider what differentiates you from all the other coaches/finance people there. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow 

Josh and Amelie continue their discussion about non-profits. Whether you’re starting a new company or transforming an existing business into a non-profit, there are some steps to follow! Top things to think about: The basic steps are to form a corporation and then go through the steps of turning that corporation into a non-profit. 501c3 is one option and probably the most likely for most coaches, but there are other options as well. There are far stricter rules around naming a corporation. Hiring a lawyer to write your bylaws and articles of incorporation will be much faster and efficient–and will probably save you time and money in the long run. You’ll need a board of directors and they need to be representative of the “broader community.” Then you send things off to the IRS, probably get rejected, fix things, then resubmit. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow 

Josh and Amelie discuss the idea of setting your business up as a non-profit. When might this be the most advantageous thing to do? Top things to think about: Non-profits are corporations who have filed for exempt status (typically 501c3, but maybe not!). You have to have a board of directors in a non-profit. Think about what your goals are, and then determine if those align better with a for-profit model or a non-profit model. Consider how much money your clientele make–do they make enough to pay you for your services? If not, can you create a non-profit where someone else can pay? Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow 

Josh and Emily discuss things that waste business owners’ time. We also call ourselves out for OUR biggest time-wasters! Top things to think about: Marketing is a huge waste of time. Operations are a huge waste of time. Multi-tasking is a huge waste of time. Communications are a huge waste of time. Innovation is a huge waste of time. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow 

Josh is joined by special guest Professor Trelawney–or rather, Amelie–to discuss a seemingly-boring topic that has led to surprisingly wonderful client responses…financial ratios! Debt-to-income, Top things to think about: Without ratios…numbers are relatively meaningless. Early on, we should focus on helping clients set up for long-term success–retirement savings to get company match, pay down debt that will hard ability to buy a house (credit cards and high interest car loans), and put money aside for short- to mid-term loans. Liquidity ratio is a great one–it’s also known as “how many months does your emergency fund last?” Ratios matter a lot…within a client’s life and context. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow 

Josh and Emily discuss the difference between “them” and “us”—household name financial advice givers versus individual financial coaches. Top things to think about: Gurus give general advice (even to individuals) with a purpose of entertaining/reaching an audience. Individual coaches give specific advice with a purpose of helping that individual client. Gurus are fundamentally entertainment, so they can say basically whatever they want. Don’t model your communication or advice after gurus. Episodes mentioned: Episode #75 - What is my liability when answering questions in Facebook Groups? Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow 

Josh and Amelie talk about free sales calls. Should you coach during your sales call? What is the point of a sales call anyway? Top things to think about: If you see the primary goal of the sales call as “a way to show my value,” you run the risk of coming across as pushy. You cannot gather enough data in the first 5 minutes of a sales call to provide valuable coaching. Have a script for your sales call–and know what the big picture piece is that you want to communicate. Instead of spending your time talking in your sales call, ask good questions so the prospect is the primary person talking. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Josh and Emily discuss business goals today! How do you set goals, how do you decide if they’re good goals, and how do you stick to them? Top things to think about: SMART goals started in the business world. A and R often have different words associated with them depending on whether you’re talking about business goals or personal finance goals. Focusing on one big goal can help clarify smaller SMART goals. Don’t set goals based on how important they are. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Join Josh and Amelie to discuss debt payoff methods! Is the snowball method the best way? Top things to think about: The two most commonly talked about methods are the debt snowball and the debt avalanche methods. Focus on the debt with the highest negative impact. From a motivational standpoint, studies have shown that paying off a larger portion of a balance has a larger positive impact (so a $500 payment on a $1k balance has a bigger impact than a $500 payment on a $1k balance). Don’t be dogmatic about debt payoff methods–evaluate what works best for each individual client situation. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Join Josh and Emily to discuss why having a meeting agenda is important…and why having the agenda consist exclusively of “whatever the client wants to talk about…” is NOT a good idea. Top things to think about: It’s very important to leave space for the client to ask questions and bring up what’s on their mind. At the end of the day, the client hired you for your expertise. Explaining what you see as the top goals of the meeting and why is a great way to start. If you genuinely have nothing to discuss…then you need to either say, “Great, let’s celebrate and we’re done here!” OR start making new goals! Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Join Josh and Amelie to discuss how to get yourself out of a funk and how to build a support system to help pull you out. Top things to think about: If there is one thing that is holding you back from moving forward in your business…consider if it’s possible to just not do that one thing. Set realistic expectations for yourself. Don’t change your strategy because you’re impatient–give it time to play out. Find out how to identify a trigger point and get in front of your clients at that point. If you know there’s a specific time of year or event that is overwhelming, block your calendar off during that time so you can prepare. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Join Josh and Emily to discuss ways to make money as a financial coach outside of…coaching! Top things to think about: Do you have a valuable certification (hard to get, of value to society, recognized, etc.) or not? Most personal finance-related things that aren’t service-related will require a TON of time and you’ll make very little money. Is there a job (either W2 or 1099) you could take that would increase your credibility to your niche? Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

 Join Josh and Amelie to discuss Imposter Syndrome. Top takeaways: Imposter syndrome can show up in three ways: “there’s so much I don’t know!”, “this is easy, why would someone pay me?”, and actual “I have no idea what I’m talking about.” See if you can narrow down specific areas where imposter syndrome crops up. Don’t ignore your imposter syndrome–it’s telling you something, whether knowledge, process, or your mindset/beliefs! Previous episodes: Episode 53 - What is Imposter Syndrome? Episode 54 - Impostor Syndrome around your coaching process Episode 55 - How increasing your technical knowledge can help reduce Impostor Syndrome Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Join Josh and Emily as they discuss pros and cons of paid and free promotion opportunities. Which is better? What should you think about? Top takeaways: You have much less control over free marketing options. Make sure you have an infrastructure to handle business opportunities. Attending free events in an unofficial capacity rarely leads to genuinely organic conversations. Attending events as a sponsor or with a booth can be a GREAT conversation starter. It’s often more expensive to go with free options because you’ll pay so much to get it set up. Paid options allow much more specific targeting. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series  Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Join Josh and Amelie to talk about Whole/Universal Life Insurance! As Amelie was studying for her AFC exam, she found herself wondering when–if ever–whole life insurance makes sense. Top takeaways: First question to ask: do you have a temporary or permanent need for insurance? Second question: have you run out of all other tax-sheltered accounts (IRA, 401k, 529, etc.)? There are some long-term care insurance policies that are hybrid whole life/long-term care and some that can be riders on other policies. If you have a family history/higher likelihood of cancer, it may make sense to have whole life with potential additional benefits/ability to buy more. Every tool has a place; our job is to help figure out if the tool is being used for the correct purpose. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Join Josh and Amelie to help Launch member Jackie choose her niche! Jackie reached out to Amelie about choosing a niche, and Amelie invited her onto the podcast to talk with her and Josh! Top takeaways: Consider that opening a non-profit business is an option if you’re looking to serve primarily lower income folks. Feel free to start with a REALLY broad opening category, as broad as “people who wouldn’t use the services a non-profit offers.” If you could work with only one TYPE of people, what type of person would you work with? Consider who has the ability to pay you. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

Join Josh and Emily to discuss whether $1000 is a big enough emergency fund…and more specifically, how to determine how much of an emergency fund you actually need. Top takeaways: $1000 is a truly arbitrary number. It hasn’t changed in decades and isn’t based on income or expenses. In order to determine a good emergency fund benchmark, you have to figure out what your emergency fund should cover (medical bills? Job loss? Home repairs? etc.) 3-6 months is common, but that’s a HUGE range. All rules of thumb are, by definition, wrong. In a true job-loss emergency, the goal should be to keep things status quo, not have to cut everything else. “New tires” should not be an emergency–it should be predictable. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow