How I Help Small Businesses Manage Their Finances?

Dawn Kennedy

Dawn Kennedy

Founder
Entre Money Coach

Team Size

Revenue

Not disclosed

Location

United States

STart Date

Aug 2019

Today my female entrepreneur is Dawn Kennedy. Dawn is an attorney, a financial coach, business strategist, and the founder of Entre Money Coach.

She is passionate about helping small business owners to use their money wisely and grow their businesses to their full potential. Money Management is one of the top issues that entrepreneurs face, and for that reason, I have decided to interview this impressive woman today.

In this interview, Dawn shares on her entrepreneurial journey and how she started with financial coaching. I hope her story inspires you to take control of your money and financial future.

INTRODUCTION

PLEASE TELL US ABOUT YOURSELF AND THE BUSINESS YOU STARTED?

Hi, my name is Dawn Kennedy. I am an attorney, financial coach, and serial entrepreneur who is passionate about helping small businesses thrive in the face of unexpected market changes by ensuring there is a plan to protect financial milestones and a plan for the company’s successful growth. I gained an extensive background in program management and strategic planning, working for the US Army and as a consultant for companies in both the government and private sectors.

My focus on financial coaching began when I faced some tough financial lessons with UNEQ Consulting, LLC, a six-figure consulting business I ran with my husband Mike. On November 1st, 2013, Mike had a near-fatal fall 18 feet off of a ladder, and by the grace of God, he survived, but our company did not. Mike went into rehabilitation and we were forced to confront the stack of bills we could no longer pay. It took us 39 months to pay off the business and personal debt in a total of over $76,000.00.

Today, I apply lessons learned from UNEQ and my training as a financial coach, project manager, strategic planner, and attorney to work with other entrepreneurs to implement positive and powerful changes to help their businesses thrive and grow. I solve problems with creative options that get results.

THE JOURNEY SO FAR

HOW DID YOU COME UP WITH YOUR BUSINESS IDEA?

Natural pivot from helping families with small businesses to working with entrepreneurs! I helped small business owners with personal and business finances, often turning things around, so they were able to take a regular paycheck for themselves!

 

PLEASE DESCRIBE THE PROCESS OF LAUNCHING YOUR BUSINESS.

I started the new website in September of 2019, kept my family clients, and started teaching my method of business financial management. I developed the B-Number, which is the breakthrough number that once you hit that amount consistently, you are into profit!

The four walls of the B-Number include:

Wall 1: Rent or internet, and utilities, your access to your buyers,
Wall 2: Critical operating expenses that are required to keep doors open,
Wall 3: Inventory or products to sell or provide services with,
Wall 4: Payroll and payroll expenses.

 

When you know your number, you know exactly what you need to make to protect yourself and your business. You will cover “overhead”, pay yourself salary every other week, and withhold your taxes. Everything above that number is “gravy,” real profit you have the fun of deciding where to use it!

I hired a coach because I am just entering into the online space and joined the Bossbabe Société to surround myself with other entrepreneurs! I get marketing help with Marie from The Marketing Junkie, she is amazing, and I’ve known her for over a year before the pivot.

Next up?

A VA to help with contract administration and onboarding clients, customer service. 🙂

Since September 2019, I have been teaching and coaching entrepreneurs with money stuff and with strategies to make more money by levering the mini-pivot.

I launched my workshop, “Get Your Financial Sh*t Together” in December and have helped over 100 entrepreneurs get their unique B-Number.

In February this year, I will launch the course “Get Your Financial Sh*t Together for Entrepreneurs” with a module specifically designed to support multi-passionate entrepreneurs!

 

WHAT HAS BEEN YOUR BIGGEST ACHIEVEMENT AND YOUR BIGGEST CHALLENGE ALONG THE WAY?

Biggest Achievement: My biggest achievement has been the launch and pivot of Entre Money Coach. I am dedicated to supporting small businesses and developing the B-Number and other methods from my own personal financial coaching business have also been a huge achievement. To see it working consistently and changing lives makes me incredibly grateful and thankful.

Biggest Challenge: My biggest challenge, after we dug ourselves out in 2012-2016, is starting again. I’ve been afraid to really get all in because I wonder if I may lose everything again. I have been heavily working on mindset and taking active steps to get out here to help as many entrepreneurs as I can.

 

HOW DO YOU PROMOTE YOUR BUSINESS?

Blog, Facebook, LinkedIn, Instagram, referrals, and networking!

I offer the B-Number process for free to any entrepreneur who wants it on the website, and there are free videos with the B-Number steps, other business tips, and strategies on the Facebook page 🙂

 

WHAT IS YOUR VISION FOR THE FUTURE OF BUSINESS?

My big vision is to build a large company with a team of passionate business and personal financial coaches who can support small businesses and their employees.

I believe small businesses are the engine of the economy, and there needs to be financial wellness programs for owners and employees.

The benefits you receive in a large corporation aren’t readily available to smaller companies, but there are studies and evidence that point to workplace problems when either the company or the employees are under financial stress.

I want to build the premier organization teaching and supporting financial wellness for small businesses.

RECOMMENDATIONS & FINAL THOUGHTS

PLEASE RECOMMEND ANY RESOURCES AND TOOLS THAT YOU USE TO RUN YOUR BUSINESS.

  • Hosting: InMotion Hosting,
  • Website: WordPress,
  • Email Marketing: ActiveCampaign.

I have a marketing VA for SEO and blog.

I am a member of several entrepreneurial groups and participate in a mastermind program. I teach and coach globally on Zoom.

My husband does the bookkeeping, and I have an accountant. I advocate controlling the business income, but I actually can’t stand accounting, lol

WHAT ARE YOUR FAVOURITE BUSINESS BOOKS, PODCASTS OR BLOGS?

My top book is The 5 Second Rule by Mel Robbins, and I recommend it to everyone, not just entrepreneurs.

I listen to I Heart My Life podcast, Boss Babe podcast and I started listening to David Neagle.

I read a ton of blogs. I love them and tend to read more about a topic than a specific author.

WHAT ADVICE WOULD YOU GIVE TO OTHER WOMEN WHO WANT TO START THEIR OWN BUSINESS?

Have your money sh*t together from the start. Pay yourself a paycheck, even if it’s ten bucks, don’t live out of the till. Keep everything separate and treat your business as a business.

My other advice, get into places, groups, and circles of other entrepreneurs. We are often the “odd” ones in the family, and we have to stick together!
I have siblings that are nurses and teachers, and that’s all fine, but it’s not me and they don’t “get” me.

Find your tribe of other ambitious, creative, service-minded, and impact making entrepreneurs.

WHERE CAN WE FIND MORE INFORMATION ABOUT YOUR BUSINESS?

Website: EntreMoneyCoach (includes free B-Number worksheets)

You can DM me anytime. I will always get back to you! Or shoot me an email at assist@entremoneycoach.com

Big thanks to our supporters & affiliates ❤️

Violeta Semenova

Violeta Semenova
Founder
theBizLadies

Welcome to the Biz Ladies interview series!

If you’re new to these series, I interview women entrepreneurs on how they started their business, what was the idea behind it, how they got where they are, the struggles, the reality and more.

By sharing their stories, we want to inspire other women to get started.

If you are interested to share your own story on the Biz Ladies LET ME KNOW!

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