Interested in starting your own entrepreneurial journey in financial services but unsure what to expect? Then read up on our interview with Amy Schultz, Co-Founder of Bolder Money, located in Brooklyn, NY, USA.

What's your business, and who are your customers?

We are Bolder Money, a community of women working to close the gender wealth gap. We work with women who have felt shame and overwhelm around money and who have primarily been left out of the standard of financial help that exists. They are working on getting out of debt, building savings, and achieving more in their careers.

Tell us about yourself

The coaching program we've built with Bolder is what I needed 6 years ago. When my first son was born, I was making six figures, had no savings other than my 401k, and had $30,000 in credit card debt. It was painful and embarrassing, and I felt completely out of control with my money.

When I realized how common this experience is, especially for women, I emptied my 401k to focus my time and money on starting a business to tackle this problem. Going beyond that, I co-founded Bolder because I wanted to find a way to help women who didn't feel like a coaching package that cost thousands of dollars would be doable for them. I didn't want to give up on women who didn't fit into the standard of financial help, which is either a financial advisor or a pricey coaching package. 

What's your biggest accomplishment as a business owner?

Building a company that's supported 10+ coaches to help hundreds of women improve their financial situations. Also, securing funding (because, sadly, only 2% of women-owned businesses do).

What's one of the hardest things that come with being a business owner?

It's all personal! The successes and failures of the business feel like personal wins and losses. And failures happen - every day, in a million different ways - but your success depends on your ability to accept failure as part of the journey and pivot as much as you need to. It takes a strong mindset to own a mission-based business with a big vision.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Find a community of like-minded individuals. Loneliness will breed doubt in yourself and your business ideas. So find a group of people who make you feel less crazy and like it's all possible.
  2. Include hiring a team in your business expenses so you don't feel like you need to have all the answers or handle everything yourself. The sooner you can act as CEO in your business and not an employee, the sooner you'll be able to make the impact you want and grow the way you want to.
  3. Research and experiment every day in the beginning! Learn from your customers, potential customers, canceled customers, unhappy customers, and happy customers; you get the picture. And create a product or service they actually want instead of what you think they want.

Where can people find you and your business?

Website: https://www.boldermoney.com/
Facebook: https://www.facebook.com/BolderMoney
Instagram: https://www.instagram.com/bolder.money/
LinkedIn: https://www.linkedin.com/company/bolder-money/

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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