Interested in starting your own entrepreneurial journey in personal development but unsure what to expect? Then read up on our interview with Becky Mollenkamp, Owner of Becky Mollenkamp, LLC, located in St. Louis, MO, USA.
What's your business, and who are your customers?
I'm a feminist life coach who helps people unlearn the conditioning that makes them overwork and undervalue themselves so they can redefine success on their own damn terms. Most of my clients are professional women, usually moms, who are smart and successful, but who are on the edge of burnout and need to find a more self-honoring way to reach their big goals.
Tell us about yourself
The turning point in my life came in 2010 when my 30-year-old brother died of a heroin overdose, I got a divorce, and I nearly lost my business—all in the space of 6 months. Those events helped me realize that life is too short to be okay with "good enough." I spent the next few years doing a lot of difficult self-help work, which ultimately led me to want to move into coaching. As a feminist coach, I am on a mission to remove blame and shame from coaching. I truly believe that's my contribution to dismantling patriarchy (by helping one person at a time find their own power outside of oppressive systems). Seeing my clients' transformations is definitely what gets me excited to run my business.
What's your biggest accomplishment as a business owner?
I'm not in business to win awards or collect gold stars. This business is absolutely about helping people and changing society. To that end, I'm most proud of my clients who have completely transformed their lives, going from unhappy "shoulds" to truly free and joyous. My clients have completed graduate degrees, landed better-paying and more rewarding jobs, started and grown businesses, left unhappy marriages, found "the one," had children, and reached so many other big goals. Each of their victories feels like the biggest accomplishment for me and reaffirms why I do the work I do every day.
What's one of the hardest things that come with being a business owner?
I think the most difficult part of being a business owner is learning how to manage the revenue ebbs and flows, especially in the early years. It can be really scary and challenging to sustain yourself when your income can vary wildly from month to month. In my early years of self-employment, I used an Excel spreadsheet to track income, and I basically spent money when I had it and panicked when I didn't have it.
Eventually, I implemented the Profit First method, and that changed everything. Learning to properly budget and save within your business is so critical. Economic and industry changes happen, and the businesses that survive for years and decades (I've been self-employed since 2005) are the ones that aren't living week to week but instead have a decent runway to cover costs. Business owners, even solopreneurs, can and should get a regular paycheck just like traditionally employed folks. It's possible and actually quite easy once you implement a solid accounting system.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
I definitely don't consider myself a business "expert," but I have managed to remain self-employed and make a good living on my own for 17 years. My biggest tip to other entrepreneurs is what I just shared—learn enough about accounting to be able to pay yourself regularly and save for a rainy day.
Another tip is to find a community of your peers. Running a business can feel lonely, but it doesn't have to be that way. Join or create a mastermind with other business owners to get ongoing support (I have tips about how to start a mastermind here: https://beckymollenkamp.com/how-to-start-a-mastermind-group/).
Finally, I want business owners to know that they don't have to work 80 hours a week and feel burned out all of the time. If you're in that boat, then find a coach who can help you figure out what forces have contributed to your overwhelm and overwork and help you make changes that allow you to run your business in a way that actually feels good—because it should feel good.
Where can people find you and your business?
Website: https://beckymollenkamp.com/
Instagram: https://www.instagram.com/beckymollenkamp/
Twitter: https://twitter.com/beckymollenkamp
LinkedIn: https://www.linkedin.com/in/beckymollenkamp/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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