Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Laura Ross, Owner of Laura Ross Estate Consulting, located in Toronto, ON, Canada.
What's your business, and who are your customers?
I help couples, individuals, and families get their estates organized well ahead of death. I also act as executor advisor for families where the executor requires assistance. I focus not only on the financial aspect of estates but also the emotional issues including health care directives to ensure conflict among remaining family members is reduced as much as possible.
Tell us about yourself
I have worked in financial services my whole life and saw firsthand how families are thrown into confusion upon the death of a loved one. Personally, when my father was ill and subsequently passed away, I acted as his Power of Attorney as well as Executor and was surprised at how little direction executors were given regarding their role and decided to start a business to assist people in this complex area.
What's your biggest accomplishment as a business owner?
I am very proud of the business I have created that is filling a huge void in the marketplace that adds so much value to my clients. My main referral area is financial/investment advisors who recommend me to their clients. Their clients all have relationships with lawyers, accountants, and insurance providers; however, they all require additional assistance to look at the bigger soft issues of estates. I do not know anyone else providing this service to clients.
What's one of the hardest things that comes with being a business owner?
As a business owner you must spend as much time marketing your business as actually executing the business. In addition, in my particular business, no one likes to talk about death, yet it happens to every one of us. People are not aware that they need assistance in this area, so part of my challenge is helping clients understand how I can assist them. There are a few key areas within estates that can make a huge impact on your family, yet there are limited resources advising clients on how to navigate this complex aspect of all of our lives.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Ask for help! Ask trusted advisors in your life for input on what you are trying to create. They can assist with marketing, strategy, pricing, etc.
- Try to focus your effort on specific markets. Trying to be all things to all people will waste time.
- Establish a referral network to refer clients to you. As an entrepreneur, you will need assistance connecting with clients. Your referral network is key to expanding your audience.
Where can people find you and your business?
Website: http://www.estateconsulting.ca/
LinkedIn: https://www.linkedin.com/in/laura-ross-95142b10/
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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