It's been quite the journey over the last four months with Finer Finance 101 and although we are still in incredibly early stages, there is much to come. The number one question I get is what exactly does FF do?
I'd like to answer that question by not just discussing what is currently being offered, but also explain the vision for what will be offered. The true ultimate goal is to try to provide more affordable financial and business development services to the average American. Consultations and advising still come at an incredibly high price and I think it's because there's a particular conflict of interest going on where most of these positions require minimum targets of sales and comission to be the way the professional makes their living. I've thought heavily about the solution to this and come up with a few ideas that I will be trying to get together over the next few months.
Currently I provide personal one-on-one financial consultation sessions, small business start up consultations for those who don't know how to convert a hobby or a dream they may have into a profitable and sustainable small legal business. I also am starting to work with two companies this month as a Finer Finance Consultant who provides Business Development guidance (I will be announcing those soon). I have also been working on partnerships and building a solid, trust worthy team of experts in their own fields. I would like for FF to eventually become a one stop shop for your financial needs, a portal really. I currently have partnerships with a law firm as well as a marketing/printing company that we finalized last month and this month. This is all that I can do at this point as I'm only one person, I only have a certain amount of resources, and trust me when I say it's very expensive to start a company.
Although I do think what I'm currently doing is important and filling a current market gap, there is still so much more that I'm trying to figure out how to do with the funding that I currently have. For the past 4 months as many of you know, I've also been traveling to meet and pitch to different investors and have come to the conclusion with the help of my amazing mentors that in order to keep this company going in the direction I'm wanting it to go, I need to ensure that I have the largest amount of money invested. And I'm going to need quite a bit of money!
So, what is in store?
I would like to embark next on providing microfinancing to small start up local businesses. Imagine it being a tiny scale incubator where if you have an idea, you can apply, you will have a full business consultation to understand your start up costs, we will find you the money to get going, and you will have access to business advice and a large network as you get yourself off the ground. I'm interested in both side businesses and small businesses. To get an idea, go to Kiva.org. It's interesting that this seems to exist around the world, but is limited here in the U.S. Although sites like Kickstarter are absolutely great, they don't provide the propper guidance during the whole process once you've gotten the funding. Currently, only tech style start ups really have a chance to get the full package deal.
Next, I'm trying to get a very simple software/app that utilizes your own real personal finances to help to educate you on financial literacy here in the United States. It will be very intuitive, interactive, fun and informative. I'm looking at a few ways to get this going and have started having some pretty interesting pre, pre PREliminary meetings!
Lastly, I would like to put an advocacy group together with a financial literacy curriculum. The idea would be to go around to high schools, colleges, different educational organizations and try to get these courses added on as an elective. I am definitely thinking of distance learning/blended solution as an option as well.
I welcome any feedback, questions and ideas. I also want to thank everyone who has been so incredibly supportive of my choice to embark on this journey especially those of you who have gone out of your way to help me in whatever way you could and have believed in me. The level of encouragement has been pretty amazing!
Looking forward to the next few months!