Woman of the Week 9th January 2011
Lisa Newton is an author, speaker and entrepreneur. After hearing Robert Kiyosaki speak on the Oprah Winfrey Show, she decided to start her own business. Read her inspiring story below.
What does your business do?
Primarily we do bookkeeping – we’re a bookkeeping service, we have bookkeeping books, we do bookkeeping training, we have a bookkeeping franchise and we have a bookkeeping software. We’re here to help the SME – so we also offer a telephone answering service, and as we’re keen on money, budgeting and being efficient – we help clients to cut costs by getting better deals on utility business expenses. We have lots going on.
What made you decide to start your own business?
I saw Robert Kiyosaki on the Oprah Winfrey Show. What he said was life-changing. He said ‘the rich don’t work hard for money, they have money work hard for them’. He also said ‘if you want to be rich, you have to become a business owner and/or investor’. And he also spoke of the importance of ‘paying yourself first’ – so it made complete sense to me. So, I got the book, ‘Rich Dad Poor Dad’ – and I decided to start my own business in the same month of graduating from university. There was no point in waiting. There’s no time like the present. I used £150 as my start up capital. £100 from my overdraft and £50 from mum.
What have been your biggest challenges so far?
People. Some people lie about what they can do for you. They’re happy to take your money, but deliver very little. But they can be very convincing liars.
How did you overcome these challenges?
You’re 6th sense becomes better. And when you network and get out and about – you start building a trusted network. In the beginning – I didn’t know anyone.
What advice or tips would you give to other business owners?
Don’t waste money. Spend less. Review all suppliers and don’t accept that you’re getting the best price. See: www.ChangeSuppliers.com Keep an eye on your books, and make sure you get paid. Ideally, a cash up front business model is better than an invoice and wait 60 days model.
What’s your favourite quote?
If you think no-one cares about you… just try missing a couple of payments.
Who inspires you?
Robert Kiyosaki, Oprah Winfrey and Lord Sugar… people (underdogs) who started life with nothing – and became self-made multi-millionnaires. I’m inspired by people who come from humble beginnings… very much like myself