We were lucky to catch up with R.J. Weiss recently and have shared our conversation below.

R.J., looking forward to hearing all of your stories today. We’d love to start by getting your thoughts on what you are seeing as some the biggest trends emerging in your industry

In the financial education industry, my company, The Ways To Wealth, strives to establish itself as a trusted resource, akin to a Consumer Reports in the finance space, but with an independent voice.

Since its inception in 2016, our primary growth driver has been organic search engine traffic. This approach has been central to our strategy, aligning with our goal of providing unbiased, in-depth financial guidance to our audience.

The advent of AI technology is a double-edged sword. It’s enabling content teams to be more efficient, producing more content than ever before. But this boon is not exclusive to us; it’s a tool available to everyone, leading to a crowded field with more players vying for attention on platforms like Google.

Compounding this challenge is Google’s own integration of AI. Google will soon start using AI to answer queries directly, reducing the number of clicks directed to external sites. While this shift hasn’t fully materialized yet, it’s a significant concern on the horizon.

The convergence of these factors – more competition and potentially fewer opportunities to capture audience attention via search engines – creates a tough environment. It’s like preparing for a storm; you see the clouds gathering and know you need to adapt, but the exact path and impact of the storm are still unknown.

Despite these challenges, it’s an exciting time, full of uncertainty and opportunity, pushing us to innovate and find new ways to reach and educate our audience.

R.J., before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?

I’m the CEO of The Ways to Wealth, a financial education company with a clear mission: help people make, save, and invest money wisely. My background is as a Certified Financial Planner (CFP), where I spent a decade working with high-net-worth clients. I learned a lot about wealth management and financial planning, but I felt a strong pull to share this knowledge with a wider audience, especially those who really needed practical financial advice.

So, I started The Ways To Wealth, initially as a blog to put my ideas out there. It’s grown way beyond that now, reaching millions of people each year. What I’m really proud of is how we’ve built a durable, trusted brand. Starting a website and seeing it succeed isn’t common, so I’m grateful that over these seven years, we’ve not only survived but also evolved and helped a lot of people. That’s what’s most important to me – making a real difference in people’s financial lives.

Let’s talk about resilience next – do you have a story you can share with us?

In early 2021, we faced a severe crisis due to a Google Update. Overnight, we lost half our traffic and revenue. On top of that, my wife and I were dealing with the difficulties of navigating the pandemic with three young kids.

It wasn’t immediate, but after some reflection, I fully committed to my business. I was determined to give it my all and see if I could turn things around.

This decision came with a practical safety net in mind. My spouse and I discussed our finances and set a clear boundary. We agreed that I would start job hunting if our savings dwindled to a certain level. This plan provided a challenge and a sense of security.

The situation began improving when we neared that critical point in June 2022. Traffic to the site started picking up, marking the beginning of a consistent growth trajectory that continues today.

The support of my spouse was invaluable during this challenging period. The clear deadline we set for reevaluating our situation provided a focused goal to work towards.

Reflecting on this experience, I’m profoundly grateful for overcoming such a daunting obstacle. Every Monday, I look forward to contributing to something I deeply care about, knowing how close we came to a different path.

Are there any books, videos, essays or other resources that have significantly impacted your management and entrepreneurial thinking and philosophy?

I am a perpetual learner, always seeking knowledge that adds value and helps me filter out the noise. In my journey, two books are incredibly impactful for entrepreneurs, particularly those running small businesses.

As an entrepreneur with a background in personal finance, I’ve learned that managing a business’s cash flow is fundamentally different from personal finance. It’s more complex and requires a robust system, as cash flow is the lifeblood of any business.

This is where ‘Profit First’ by Mike Michalowicz has been a game changer for me. The book teaches you how to effectively operate your business’s cash flow, prioritizing profitability and maintaining financial health.

In addition to managing finances, running a business also involves team cooperation and operational management. ‘Traction’ by Gino Wickman has been instrumental in this aspect.

As someone who primarily operated independently, ‘Traction’ provided me with the tools and framework to transition into managing and working as a team. This book offers a comprehensive guide on structuring and growing a business, making it an invaluable resource for any entrepreneur.

Contact Info:

• Website: https://www.thewaystowealth.com/
• Instagram: https://www.instagram.com/thewaystowealth/
• Facebook: https://www.facebook.com/thewaystowealth
• Twitter: https://www.twitter.com/thewaystowealth/
• Other: https://www.pinterest.com/thewaystowealth/