682: Kristin Lee | How High Net worth People Manage Their Money
With great money comes great responsibility; so how do you manage it and who helps you in the process? Kristin Lee is an accountant and business manager focusing on intricate international tax and business structures for a myriad of clients.
Kristin has worked at some of the top business management firms in the world throughout her career before starting KLBM, a company providing a full range of business management and accounting services to musicians, athletes, writers, actors, producers, labels, and other high net worth individuals and companies all over the world.
Dive into this episode and learn some practical knowledge about how Kristin helps high net worth individuals and entities manage their money.
Things you will learn in this episode:
- I introduce today’s guest, Kristin Lee
- Kristin gives us some background on her story
- A love for performance and music
- Following the business path
- Getting into the passionate side of business and accounting
- Transitioning from traditional accounting to the creative space
- Avoiding the emergency point
- Don’t be afraid to delegate
- How much should education come into play vs. delegation
- Due diligence is still important
- When it’s time to outsource
- Business mistakes people should avoid early on
- The issue of not forming your business correctly
- Watch out for taxes
- General, legal tax saving tips
- A word from our sponsors
- Kristin talks about the process of growing her firm
- Who you know or what you know?
- A lot of growth due to who you know
- How to stay on top of the mind of clients
- Be the best and take care of your clients
- Working through the pandemic
- Having the right systems and people in place
- The role masterminds and mentorships played in Kristin’s success
- Having good bosses who trained well
- Connections that led to success
- How Kristin would build up her network from ground zero
- Persistence and alignment with the right people
- Annoying persistence vs. Professionalism
- ThE RaNDoM RoUnD
- How to engage with Kristin
- Links below
- Final words
“I would encourage people to not be afraid to delegate because then you can really focus on things that are growing your business, growing your brand, making you - you.” - Kristin Lee
“Every situation can provide a new challenge… We can always get better, and I’m not afraid to change or update something that doesn’t work, just because we’ve done it ‘that way’ for so long.” - Kristin Lee
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