Investing in Your Dreams with Wealthsteading
- Fahad H
- Dec 18, 2019
- 5 min read
Updated: Jan 14, 2020
Thank you for taking the time to chat with us today. The Wealthsteading podcast focuses on helping people grow their wealth, did you always have an interest in finance?
“I was always interested in stocks, but was never interested in pursuing a career on Wall Street or becoming a stockbroker. I was from Pennsylvania and came from a blue collar working class background…the idea of stocks, investments, and finance was a dream I didn’t even know I had yet. I joined the Marine corps at 17, and had no understanding of the business world. After the military I worked in Corporate America, traveled around the US, and in the interim I found out I was an entrepreneur and had the heart for small business.”
First off, thank you for your service. It’s really amazing you that your passion for trading stocks helped develop your interest in running your own business. Did trading stocks go hand in hand with your job in Corporate America?
Investment is key in any hobby or passion a person can have. Did you ever consider switching from Corporate America and pursuing a career in stocks with another company?
“I didn’t want to go work for any wealth firms or insurance companies because I didn’t have a desire to sit behind a desk or in a corner office anymore, I wanted something else for my future. I spent another 5 years in Corporate America before I became serious about putting my ideas about a business into fruition. My wife suggested since I made all my money trading stocks why don’t I have a stock trading business.
“I began to do my research and saw that I could sponsor myself, start my own business, and get licensed. Instead of becoming a financial planner, I could be a money manager and manage people’s retirement incomes. The biggest question I kept asking myself was “Who was I to manage people’s money?” but I told myself I knew I could do this because I’d done it for myself. There are a small businesses, blue-collar type people out in the world who need guidance and financial knowledge…and I could help them. I was to connect with them on a different level because that’s really who I am at heart.”
Connecting with people is so important when you are building a business. How did you develop a plan for executing your business?
“I had been living in Utah around the Salt Lake City area and decided that I would focus on obtaining clients within a 60-mile radius of my house. My audience would be someone who works at a small business or blue-collar jobs like an auto body shop, general contractor, plumber, or electrician. I could explain what I’ve done for myself and how I could help them with their retirement account. That was my plan/strategy and I was determined to make it work.”
It sounds like you had an excellent strategy for your business, were there any hurdles you encountered when you first started?
“I didn’t want to work off the internet. My whole business strategy was to stay within a 60-mile radius, meet face to face and work off of referrals. In 2013, I was marketing my company using only business cards and someone asked me what my website was, and I didn’t have one.
At this point I realized that it was time for me to take a leap of faith and try to build a website so I went to the local Bluehost office in Salt Lake City, set up an account and started my website. I had no prior knowledge of WordPress, so I started small, bought my domain, and then built my first page. I realized I needed a blog post in order to generate content for my website so I started blogging and that helped me get publicity for my business. It was after that experience I realized that I was ready to make a full-time commitment to becoming an entrepreneur.
It seems like all the dominos fell in place at just the right time, how does your website coincide with your business?
“If you look at my website today, I tried to maintain simplicity. My business model was to be local and attract local people. I wanted a way for prospective clients that I meet in person to be able to access my content and build credibility as a businessman. I received several opportunities to speak overseas, publish a book on automation, co-host radio shows, start a podcast, and more.”
It’s been almost 5 years since I started the podcast and I have about 300 episodes. I could have never anticipated that the podcast would be an outlet that provided me with countless opportunities.
I never wanted to make money podcasting and never had plans to monetize it. I expanded from being a 60-mile radius around my house to having clients all over the country who found me through my blog and podcast. I went from managing my own money and now manage over 30 million dollars in client money.”
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