We caught up with the brilliant and insightful Terence Townsend a few weeks ago and have shared our conversation below.
Terence, thanks for taking the time to share your stories with us today Let’s kick things off with your mission – what is it and what’s the story behind why it’s your mission?
My journey to success was not an easy one. Raised by a single mother, I came from very humble beginnings. However, I credit having faith in God’s plan and my determination to succeed have led me to achieve international recognition for my work in ministry, business and media.
In 1999, my life took a dramatic turn when I met the love of my life, Jacqueline. We both shared a deep-rooted faith in God and a strong commitment to serving our community. Together, we embarked on a journey that has been filled with both triumphs and challenges.
One of the most challenging moments in our journey came in 2002 when our family of six found ourselves homeless. For an entire year, we relied on the generosity of others to get by. However, it was during this difficult period that we were divinely inspired to launch several successful business and ministry ventures.
Through our story, I hope to inspire others to never give up on their dreams, no matter how difficult the journey may be. Our experience has taught us that with faith, hard work, and perseverance, anything is possible.
This is the force that drives our effort to encourage other would-be entrepreneurs the strive for greatness. My hope is that our inspiring story is an object lesson of how with faith and determination, you can overcome even the most challenging of circumstances. I believe that our experience is a testament to the power of perseverance and the ability to turn obstacles into opportunities.
Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.
Townsend Enterprises Investment Holding Group (TEIHG) is a family-owned investment company established by Terence and Jacqueline Townsend. The company owns and operates several businesses and non-profit entities, including coaching and consulting firm T.E. Financial Services, LLC, which offers a comprehensive line of financial and investment products to individuals and businesses.
One of the key businesses under TEIHG is Wealth Heritage Group, LLP, which is a Field Marketing Organization (FMO) that serves as a valuable resource for insurance agents and carriers alike, helping to facilitate the sale and distribution of insurance products. WHG also offers a range of services designed to help agents grow and manage their businesses, including marketing support, training and education programs, and administrative assistance.
In addition to Wealth Heritage Group, TEIHG also owns and operates Moniker Insurance Depot and Moniker Tax Express, which provide insurance and tax preparation services respectively. These companies offer a range of options to help individuals and businesses protect their assets and minimize their tax liabilities.
TEIHG also owns Medicare For Texas, which provides assistance to individuals seeking to navigate the complex world of Medicare. This service is especially important for seniors who may be overwhelmed by the many options available and need help finding the best Medicare plans to meet their specific needs.
Cellie World Wireless is another business owned by TEIHG that provides mobile phone and wireless services to consumers. The company offers affordable plans and a range of options to meet the needs of its customers.
T.E. Intl. Distribution is a business under TEIHG that specializes in the distribution of Right Choice Supplements. Right Choice Supplements is a nutritional supplement company that is also owned by TEIHG. The company offers a range of high-quality supplements designed to support overall health and wellness.
TEIHG also owns T.E. Publishers, which produces a range of publications and educational materials focused on personal finance and financial literacy. The company’s My Money & Me Financial Education Program is an especially important resource, as it provides individuals and families with the tools and knowledge they need to make informed financial decisions and achieve financial success.
Finally, TEIHG also operates Temple P.A.C.T., a non-profit organization dedicated to supporting underprivileged youth in the community. The organization provides educational resources and support to help young people achieve their goals and overcome obstacles.
In summary, Townsend Enterprises Investment Holding Group is a diverse and multifaceted company that owns and operates a range of businesses and non-profit entities. Our businesses provide a range of services and products designed to meet the needs of individuals and businesses across a variety of industries. Whether you need financial coaching, retirement saving options, insurance and tax preparation assistance, mobile phone, and wireless services, or nutritional supplements, TEIHG has something to offer. Furthermore, our commitment to supporting underprivileged youth through Temple P.A.C.T. demonstrates their dedication to giving back to the community and making a positive impact on the world.
Can you talk to us about how your funded your business?
“Finance through sales” refers to a financing strategy where a company uses the revenue generated from its sales to fund its operations and growth, instead of relying on external funding sources such as loans or investments. This approach is commonly used by startups and small businesses that do not have access to significant funding sources or have a limited track record of success.
Here are some steps that a company can take to finance through sales:
1. Identify Your Revenue Streams: The first step is to identify the sources of revenue for your business. This could be through product sales, service fees, or any other form of income generation.
2. Establish Sales Goals: Once you have identified your revenue streams, you need to establish sales goals for each of them. This will help you determine how much revenue you need to generate to finance your operations.
3. Optimize Your Sales Process: To maximize your revenue potential, you need to optimize your sales process. This involves identifying your target market, creating a sales funnel, and developing marketing campaigns that effectively promote your product or service.
4. Monitor Cash Flow: As you generate revenue from sales, it is essential to monitor your cash flow closely. This means keeping track of your incoming and outgoing cash flows to ensure that you have enough funds to cover your expenses and investments.
5. Reinvest Profits: Once you have generated sufficient revenue, you can reinvest the profits back into your business to support growth and expansion. This could include hiring additional staff, investing in new technology, or expanding your product line.
6. Continuously Improve Your Sales Performance: To maintain a sustainable finance-through-sales strategy, you need to continuously improve your sales performance. This involves analyzing your sales data, identifying areas for improvement, and implementing changes to your sales process and marketing strategies.
I have found that finance through sales is a viable financing strategy that can help businesses achieve long-term financial stability and growth. By focusing on generating revenue and reinvesting profits back into the business, companies can reduce their reliance on external funding sources and build a sustainable business model.
How do you keep your team’s morale high?
I understand how important it is to create a positive and motivated workplace culture. At our company, we strive to foster an environment where employees feel valued, engaged, and motivated to do their best work. One of the most critical pieces of advice that we follow is to encourage employee engagement. I believe that engaged employees are more productive, committed, and motivated to do their best work. To encourage engagement, we make sure that our employees feel heard, respected, and valued. We regularly check in with our team members and listen to their feedback, ideas, and concerns. This helps us identify areas where we can improve and create a workplace culture that supports our employees’ needs.
As a member of a management team, I have always been inspired by the wisdom of great leaders and thinkers. Two sources that have influenced my management style are the book Zapp and the legendary basketball coach John Wooden.
In Zapp, authors William Byham and Jeff Cox emphasize the importance of creating a workplace culture that encourages growth, learning, and innovation. They write, “Employees who are given opportunities to grow and develop their skills are more likely to stay engaged and committed to the organization.” This quote resonates with me because it highlights the crucial role that training and development play in building a motivated and engaged team.
John Wooden, one of the most successful coaches in college basketball history, is another source of inspiration for me. He once said, “It’s the little details that are vital. Little things make big things happen.” This quote reminds me that success is often the result of paying attention to the details, and that even small improvements can have a significant impact on overall performance.
As a member of the management team, I strive to create a workplace culture that embraces both of these ideas. By investing in our employees’ growth and development and paying attention to the details, we can build a team that is motivated, engaged, and committed to our organization’s success.
Contact Info:
- Website: https://www.tefinancialservices.com
- Instagram: tefinancialservices
- Facebook: https://www.facebook.com/TEFinancialServices
- Linkedin: https://www.linkedin.com/company/tefinancialservices/
- Twitter: https://twitter.com/tefinancial1
- Youtube: https://www.youtube.com/channel/UCCl8zf8TqNRTZTHZErapv_g