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Happy Thursday! Each month I plan on running at least one “feature” or “spotlight” post. I’ll highlight awesome people, blog posts, and products that I hope will help you make smarter decisions!
Today’s spotlight is on an entrepreneur I met at the PopUp Business School (PUBS) last fall! I wrote about our trip and my thoughts about PUBS in this series of posts.
Many people have side hustles. Whether they work part-time for other people or start their own businesses (or blogs) – people hustle to make extra money. (And some of us take on too many of those hustles!) PUBS teaches people how to start a business doing something they love with little or no money. It’s a very different model than a “traditional” business plan!
Lori Hammond took everything she learned at PUBS – along with her amazing personality and work ethic to create her new small business. I really love Lori’s business because it is based in neuroscience and it’s probably going to surprise you! I’ll let Lori tell you more…
1) Tell us a little bit about yourself!
My name is Lori Hammond and I live in the Denver, CO area. I use hypnosis to help people stop unwanted habits and create new, empowering habits and skills so they can live the life of their dreams. I can meet with you using Zoom (similar to Skype) to experience the change you seek from anywhere in the world. My website is trancypants.com
(Vicki here – Lori wrote a great article describing hypnosis and it probably isn’t what you think. If you have even one thing you want to change, or anxiety you want to address, or more – read the article!)
2) Why were you interested in the PopUp Business School?
I’ve followed MMM’s blog for several years and was so excited for the opportunity to attend PUBS! I expected to find ideas for marketing my services and growing my clientele.
3) What were your biggest business and personal take-aways from PopUp (PUBS)?
Alan, Simon, Jack, and Henry blew my expectations out of the water. They taught from the heart and held nothing back. I do not believe I would have received as much value from any other training, even if I spent thousands of dollars.
The brainstorming sessions with other entrepreneurs were incredibly valuable. We learned practical actionable tools that created immediate results. I formed friendships with high caliber, motivated, like-minded people and am now involved in weekly accountability groups where we can support one another in achieving our business and personal goals. I could go on and on about this life-changing event. I’m so grateful for PUBS!
(Vicki here – I agree 100% with Lori about the PUBS team and the value I received from the conference! And Lori is in the accountability circle I mentioned in my recent post – Finding Strength in Numbers!)
4) Have you always had an entrepreneurial spirit?
I’ve always had an adventurous spirit. When I was a little girl I KNEW I could be Wonder Woman so I made myself a Wonder Woman costume. PUBS revived my inner Wonder Woman and gave me the tools and support to unleash her in an entrepreneurial setting.
(Vicki here again – check out Lori’s video below- you’ll see that she is a superhero to people!)
5) What business idea did you work on at PopUp?
I worked on ideas for how to promote my hypnosis business through my website and social media.
6) At this point, what are you most proud of with your business?
I’m most proud of the changes I see in my clients. It’s my job to show them the resources they already have inside themselves. It’s incredibly rewarding to receive validation that hypnosis is effective and life-changing.
7) What challenges are you facing with your business?
My number one challenge is being overwhelmed by the ideas swimming around in my head. I have so many great things I want to implement that it’s hard to know what to do next. My accountability groups have been incredibly helpful in offering guidance with this.
8) What do you need to make more progress on your business idea or to grow your business?
I honestly think I have all the tools I need right now. I filled an entire notebook during PUBS and I still use it as a resource. When I do have questions, I can ask the Facebook PUBS group and someone will likely point me in the right direction.
9) Do you have other business ideas?
So many ideas! I’m focusing all my energy on being effective in my hypnosis business but I have an Evernote file in my phone where I store my “aha” moments when new business ideas pop up.
10) Is there something I haven’t asked that you want to share?
I cannot overstate the value of networking. I’ve always been a bit of an introvert and networking used to be outside my comfort zone. I read a book called The Luck Factor by Richard Wiseman just before PUBS. My biggest takeaway from the book was how important it is to exchange gifts with everyone. Imagine that every person you encounter is someone who you can help and who can help you. Networking is not a selfish thing. True networking is seeing everyone you meet as intrinsically valuable, contributing value to them, and creating ongoing relationships. The more you give, the more you will receive. It’s incredibly rewarding to help others grow their business and it will surely have a positive impact on your own business.
*Here is a video of Lori explaining how to release anxiety and beat cravings using hypnosis. Again – it’s not the “man on the stage” putting people to sleep that many people think of when they hear the word hypnosis!
I believe that Lori is going to be incredibly successful in her new business! She is highly knowledgeable and she puts her clients’ needs first! She is on a mission to “demystify hypnosis” and she has an active (closed) Facebook group. If you are interested in finding out more and joining her group, click here!
Lori’s business is primed to take off in 2018! And when it does, she may want to consider investing some of her income with Ellevest. Ellevest was founded with the mission to close the gender investment gap, which can cost some women more over their lifetime than the gender pay gap. Ellevest helps women take control of their financial futures through investing, with a beautifully designed digital platform backed by an incredibly smart algorithm.
Ellevest uses a real-life, goal-based approach. Clients select personal financial goals such as buying a home, starting a business, raising a family, and retiring well, among others. Ellevest takes into account the individual’s current financial picture, as well as her age, salary and goal timelines to construct highly customized investment portfolios for each of her goals. In addition, Ellevest is a fiduciary. They’re legally obligated to always act in a clients’ best interest, before their own.
How is Ellevest better than what is already out there?
- Forecasts a woman’s entire earnings profile, which is very different from a man’s—based on current income, age, education level—over the course of her lifetime
- Allows her to see (and play with) trade-offs between goals
- Provides a customized investment portfolio for each goal (others have a handful of off-the-shelf portfolios)
- Reframes risk from “how much do you want to take?” to “here is how much risk you can afford to take”
- Alerts her when she falls off track for her goals
- Provides her with guidance on her 401(k) and other retirement accounts
- Continuously monitors her portfolios, changing their composition as she moves closer to achieving her goals
- Gives her a 70 percent likelihood of reaching her goal target (the amount of money Ellevest suggests she’ll need for her goal, or the number she customized) or better
Ellevest was co-founded by Wall Street veteran Sallie Krawcheck, chair of the Ellevate Network, previously CEO of Smith Barney and Merrill Lynch Wealth Management, formerly CFO of Citi, and author of “Own It: The Power of Women at Work.”
Ellevest offers women (and men if they choose) the option to create a free Ellevest Investment Plan. Click here to get started. I’m excited to be working with Ellevest to start this conversation about women and money. I may receive compensation if you become an Ellevest client.