We recently connected with Lisa Chastain and have shared our conversation below.

Hi Lisa, thanks for joining us today. In our experience, overnight success is usually the result of years of hard work laying the foundation for success, but unfortunately, it’s exactly this part of the story that most of the media ignores. So, we’d appreciate if you could open up about your growth story and the nitty, gritty details that went into scaling up.

I have scaled up by consistently reinvesting as much of my capital into my business as possible. I have reinvested in a marketing build out as well as investing in my book, and intentional branding.

My podcast, Real Money with Lisa Chastain has been a labor of love and I’ve made necessary changes as my vision
has expanded. Having an eye on my money keeps me navigating twists and turns with clarity the I’ll be able to make it –
even when I don’t know if I’ll make it or not.”

As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?

I worked as a financial advisor but I found that working with women on money management — was where I could make a much greater impact. Women typically have the buying power but they don’t necessarily know how much power they will have in saving money. We’re not talking about budgeting. The word budget has basically blocked a lot of women from learning how to make their money work for them. Most of them are stressed.

Stressing about money, causes embarrassment. You feel financially illiterate. But you’re not alone—and you don’t have to feel stuck. I’ve been there and so have countless women just like you and me. In 2016, I was going broke, staring down a mountain of debt, a failing marriage, and a failing business. I had to climb back from the bottom and my financial struggles taught me how to face my money, my choices, and how to make better financial decisions that work.

I knew I couldn’t do it alone. I knew that I had to take new steps and find new systems in order to achieve new results. With the right tools, systems, and support, you can transform not just your money, but your mindset and your whole future! My goal in life is to help passionate and successful women shed the shame and guilt around their finances by rewiring how they think about money and using a strategic financial framework that’s focused on healthy spending instead of a restrictive budget.

Women don’t have to face their finances alone. The days of living in money fear, unsure of where to ask for advice and support, are over! I have an entire community of women who are working through their financial journeys together,

How about pivoting – can you share the story of a time you’ve had to pivot?

In 2016 I was at a crossroads as a financial advisor. I was in the hole every month and I had invested nearly $100,000 into an advisory business that was not returning on its investment. What you don’t know when you join the financial services industry is that it’s sink or swim. You either make it, or you don’t. I was sinking.

With $20,000 left to my name, swimming in credit card debt, and no income in sight, I knew that if I didn’t make a change, and fast, I would be out of money and out of options. So I pivoted.

I hired a coach, flew out to New Jersey with a credit card that had just enough availability on it to pay for my hotel room, and turned my business and life around. Just a few months after my first weekend in the coaching mentorship I was in, I made a decision to leave the advisory business and my licenses and open a full-time money coaching practice.

Because I had the courage to pivot, within ten months of having a new coaching business I had made 6 figures. I have not looked back from that weekend. I had to have the courage to make a very necessary change, and it paid off.

Can you open up about how you funded your business?

Luckily, professional services have a high-profit margin. I have bootstrapped my company from the start. When I made the decision to become a financial advisor, I had enough savings and a 401K that was my backbone to keep me afloat while I was building independently. Once I made the decision to grow my coaching practice, I was making enough money in the beginning to pay for my small business expenses and my rent. After going through a divorce in 2017 I relied on my coaching revenue and credit cards to keep going. I think this is a very common experience for many small business owners.

Because my business was profitable and growing I was able to apply for the EIDL Loan during the pandemic. I reinvested that money strategically in my business to grow and scale and the brand that I have today is because of my continual reinvestment into my company.

Contact Info:

• Website: www.lisachastain.com
• Instagram: @savvymoneywithlisa
• Facebook: Lisa Chastain
• Linkedin: Lisa Chastain
• Twitter: @Lisa_Chastain4
• Youtube: @lisachastain

Image Credits
Casey Jade Photo