Interested in starting your own entrepreneurial journey in personal and business development but unsure what to expect? Then read up on our interview with Lissa Prudencio, Founder of Wealth for Women of Color, located in Los Angeles, CA, USA.
What's your business, and who are your customers?
Wealth for Women of Color is a platform that provides financial education, resources, and coaching services to anyone looking to improve their finances and build wealth. While it's an inclusive community, we cater our voice to women of color to normalize wealth as something both critical and attainable. Historically marginalized groups such as women and people of color--and the intersection of the two--disproportionately earn less, invest less, hold more debt and keep less wealth. Wealth for Women of Color aims to change that. We believe everyone should have a path toward wealth for the security, access, options, and experiences it can provide.
Tell us about yourself
My business is the result of my own wealth journey. I'm a California-born Filipina American whose parents immigrated to America from the Philippines with $20 in their pockets (or so their story goes). I inherited their work ethic and followed their ideals of the American dream. This led me to attain a post-graduate degree and to work for over a decade at Google. In my journey of climbing the corporate ladder, I started to question why I was constantly burning myself out for less pay than others who did less but got paid more. These inequities, paired with a few money mistakes in my personal life, led me towards a path of self-discovery and self-taught financial education.
Eventually, I decided to pursue formal finance education toward becoming a Certified Financial Planner. In my first finance course, it dawned on me that a whole world existed with very little representation of women of color. Building wealth and investing were things I personally had no chance of being exposed to growing up as the child of immigrants in a low-income community. I decided to start creating personal finance content to teach everything that I was learning. My TikTok audience grew quickly and has given me so much positive feedback. Knowing that there is an audience that wants and needs this platform motivates me to expand it into so much more. My goal is to help as many women of color as possible attain a level of wealth to live a financially secure life.
What's your biggest accomplishment as a business owner?
My biggest accomplishment so far has been the DMs I've received from individuals who have been motivated to take ownership of their finances. This impact is the very purpose of the business.
What's one of the hardest things that come with being a business owner?
Finding balance. I think entrepreneurship and owning a business are often associated with hustle culture, working around the clock, and never shutting off. These are valid realities that are amplified when you truly love what you do. However, I find balance important in all aspects of life, and that includes the areas of productivity and resting/recharging.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Don't be afraid to outsource. Time is finite; money isn't.
- Don't be a perfectionist. You can launch & iterate.
- Don't compare yourself to others. Awareness of what others are doing can be helpful, but remember your mission and why you're doing it.
Where can people find you and your business?
Website: https://wealthforwomenofcolor.com/
YouTube: https://www.youtube.com/wealthforwomenofcolor
Instagram: https://www.instagram.com/wealthforwomenofcolor/
TikTok: https://www.tiktok.com/@wealthforwomenofcolor
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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