5 Tips for Women to Build a Successful Business

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For many women today, as well as men, a business can be the ticket to financial freedom. Whether it’s building an empire or just using a side business, self-employment can help hasten the path to financial freedom.

Today’s podcast guest, Jannese Torres, left a toxic marriage and started her life fresh thanks to the business she built. She shares tips on leveling up your finances and protecting your money with us, as well as in her book “Financially Lit!“

Remember, even though we sometimes talk about money and specific investments on this show, don’t take them as recommendations. Before investing in anything or making any money moves, do your own research and make your own decisions.

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Don’t forget to check out our podcast page for more episodes designed to help you make the most of your money.

Building a business to improve your money choices

Did you know that a woman’s right to get a credit card without the signature of a man is only 50 years old? It’s true. Until the passage of the Equal Credit Opportunity Act, in 1974 financial institutions could discriminate against women who didn’t have a male cosigner. The right for women to get a business loan without a male cosigner came even later—1988.

For women, having money can be especially important, but everyone can benefit from starting a business for income stability and a shot at a better life. Owning your own business can also facilitate:

• Leaving a bad job or just getting a better job
• Walking away from a toxic relationship
• Moving to a better situation
• Build an emergency fund

Even if you don’t plan to use a business to replace a day job, having a side business or other type of income diversity can expand your choices. It can be part of your financial independence journey. Regardless of where the money comes from, our article on building a financial plan for the life you want can help you figure out how to establish your priorities and make money choices that work for you.

Tips for building a successful business

This episode includes practical tips for building and protecting your business. For more ideas on getting started, check out our podcast episode on how one man built a business empire by selling lipstick and bras.

Jannese shares some of her best tips for getting started, including:

• Understanding what you have to offer potential customers and clients
• Focusing on going to where those who need you actually are, including being choosy about which social media platforms you spend time on
• Choose your advertising strategy based on where customers and clients are likely to be
• Create compelling content
• Don’t forget about business planning, including planning for taxes and creating a separate bank account to handle business income and expenses
• Look into different legal insurance, business insurance or other insurances you need to protect your business
• If you’re planning on getting married, get a prenup that protects your business assets and preserves them for you in the event of a divorce
• Consider a postnup if you start your business after getting married
• Don’t be afraid to talk about money

We also talk about the difference between a coach and a consultant, and how figuring out where to get the right advice for you is also part of growing a successful business. We also talk about Miranda’s book, “Confessions of a Professional Blogger,” and how it serves as another income source for Miranda, as well as a practical book for those who want to get started with the business of freelancing.

Meet this week’s guest, Jannese Torres

Jannese Torres is an award-winning Latina money expert. She became an accidental entrepreneur after a job loss inspired her to turn her food blog into a six-figure business.

Throughout the years, her passion for entrepreneurship led her to notice a gap in the conversation around money. Inspired by the J. Lo and Cardi B song “Dinero,” in 2019, she decided to start teaching marginalized communities about entrepreneurship, investing, and financial independence through her five-time award-winning personal finance podcast and platform, “Yo Quiero Dinero.”

Jannese is an expert in the areas of digital entrepreneurship, content creation, financial independence, creating multiple income streams and passive income. With over a decade of experience in digital entrepreneurship, content creation and multicultural marketing, she is now a highly sought-after business coach who helps her clients monetize their skills and pursue financial independence.

• Website
• Book
• Twitter/X
• Instagram
• TikTok

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