Business: How Riley R. Tripled Her Small Biz Earnings in One Year
Episode Summary
Riley Blanks Reed is the founder and CEO of Woke Beauty, a creative studio offering photography, brand storytelling, and community building services. In this throwback episode from last year, Riley talks about how Factora helped her to align her financial strategy with her professional and personal identity.
Episode Notes
Riley Blanks Reed is the founder and CEO of Woke Beauty, a creative studio offering photography, brand storytelling, and community building services. In this throwback episode from last year, Riley talks about how Factora helped her to align her financial strategy with her professional and personal identity.
Apply to the Fall Wealth Circle.
Love Coffee & Coin?
Subscribe on Spotify or Apple Podcasts.
Leave us a review on Apple Podcasts and help us spread the wealth, literally.
Transcript
-
Hey y'all, it's Taylor Factora’s Content Manager. Today we're launching a special summer series where we look back at some of the most incredible well circled transformations we've had the pleasure of recording so far. Each of the next six episodes will showcase a woman of color, who has made incredible moves towards creating a more lucrative, meaningful and independent lifestyle from small business owners to bonafide investies. These women have done and are doing it all when it comes to wealth building. We hope you find these stories as inspiring as we do. And now let's get into it.
This is Allegra Moet Brantley and you're listening to the coffee and coin podcast where women talk wealth. I'm the founder and CEO of Factora, a company on a mission to lead 1 million women to 1 million in net worth. Because when women have more money, we'll have more power to be the change we want to see in the world. If you're ready to hear real women share their real numbers and investment journeys and have a sneaky feeling you should be doing a little more with your money, you are in the right place. Just sit back, relax and turn me up.
All opinions expressed by Team Factora and podcast guests are solely their own and do not necessarily reflect the opinions of Factora Incorporated. This podcast is for informational purposes only and should not be used as the basis for investment decisions. Team Factora and podcast guests may maintain positions in the securities or investments discussed in this podcast.
Welcome back to another episode of Coffee and coin. I have a Riley are read on the podcast with me today. Welcome. Thank you not used to that name yet, but I'm embracing it. You know I almost said Riley are because I usually only say women's first name last initial. But since you're instafamous and you use your real name, I figured it was okay.
Yeah, I mean, it sounds great. I love hearing it come out of us. So thank you. It does sound good. I love the like are are. So Riley and I actually go back a while now. And she is not only a Factora wealth circle graduate, she did the last wall circle. But she is Factora’s photographer and has been for about a year now. So she is going to share today all about her creativity. Because really you are one of the most creative people I know. And so she has a brand. She's a photographer, she's an influencer, I know you don't love that word. And we should get into why but you are even if that's not the best term, and just a force to be reckoned with in the Austin City Limits and beyond. So welcome to the show, I want to immediately get into since this is the beginning of the fall wall circle season, and we're launching the first wall circle transformation story with you. What was your reason for joining the wall circle? And don't just say because you know me, there has to be more to it.
Well, I don't want to glaze over that intro, I'm so flattered, I have, you know, a lot of admiration and respect for you. So thank you so much for those words means a lot to me. First and foremost, I joined the wells circle, because I met you and I was just kind of blown away by your energy and your presence. And you know, when you meet someone who you look up to, you kind of want to know how they got there. And I think a lot of what you teach in the wealth circle is what you practice. And it's hard to find that not everybody is able to match their lifestyle to the lessons that they teach. So So yeah, I in part wanted to emulate what you've done for your life. And then I really loved the aspect of community in part because I was afraid of it. I've not always been one for teams, I was a tennis player. So I'm like, independent girl, don't need anybody. I'm good by myself, you know, Says the girl who's like a social butterfly. But I was really interested in what it would be like to talk about money openly and vulnerably. It's not something that I've always done. And so I wanted to lean into that challenge. I also just have not always been one for the conversation around investing. It's always been kind of like a scary word to me, similar to how like teams and circles have been scary. And so you know, I don't know, I've got this part of me that's just really interested in exploring closets of my mind. So like, shut the door on certain things and I wanted to open the door with you. So that was in part why I joined I also just love like the team that you've built for Factora like all of the ladies I've met are really wonderful and kind and those are the kinds of people that I want to surround myself with.
So I'm really glad that I joined and I came out on the other side was just so much knowledge and confidence, which felt really good. I can't wait to dig into that. And you clearly have one of the biggest growth mindsets of anyone I talked to, like even the words that you use, I wanted to explore the scary dark closets in my mind, I'm like, No, I want to keep those locks forever, I want to add an extra lock to them. And you're like, you know, money wasn't something I had leaned into. So I'm going to do that team's gonna do that community going for it. So that's already just something very unique about you, that I really respect. Let's give the audience a little bit more context about who you are. In your own words, I would love to know what it is that you say you do, because you do a lot. And then we'll get into where you're from, oh, goodness, well, I am like an identity advocate, I advocate for people's definition of themselves. So I love this question. I once defined what identity meant, and I had this whole breakdown that I won't go into, because then we'll be here for a day. But I think it is important how you behave and how you are when you're alone, this sort of like balance between the two. And so I guess what I lead with is titles like I am, you know, a creative, I am a daughter, I am a friend, I am a wife, I am a photographer, a writer, and entrepreneur, I've lived all over the world. And that is a defining factor of who I am. Because I do think my superpower is adaptability. And while it can get me into trouble, because it can mask who I am at my core, it has also just helped me to build the most incredible human connection. So I feel like I owe a lot to the life that I lived as a child. And I try to honor that life in my adulthood. So I grew up in, you know, I lived in Gosh, four countries before I was 10. And just being amongst such a diverse, eclectic group of people, and all of those different places, really helped to mold, just my ability to shape shift and assimilate. And, you know, in doing that, it's not necessarily because I want to impress, it's just because I find it really interesting to connect with people, you know, when someone can tell you something, who is on paper, nothing like you. And you can have this kind of like Spark, I think that's so beautiful. And I think that's a big reason why our society has the potential to grow. And it's often lost on us, you know, but the more that we can understand ourselves, the more we can understand each other. And so all of that is very much a part of me, as far as what I do career wise, there's sort of two sides to the coin. So there's like me as a brand, and then there's my brand. And they're in a lot of ways married. And the more decisions that I make career wise, are based on the brand that I run, I don't ever want to stray from the path that I have so diligently and intentionally built for myself, like I always say, you have to set the stones in front of yourself, and then walk across them, you can't just put a foot out and then hope that a stone appears, you know. And so, on the side of myself, I am a wellness writer, I am an artist, and everything I do is based in social consciousness. So it's for the greater good, it's for intersectionality. And I think those intersections are what makes life really interesting. I'm also a photographer, I do a lot of self portraiture as a means of not only standing for something outside of myself, but also really pouring inwards and better understanding who I am and why I'm here. And then on the other side of that I've run a business called Work beauty, which is where we've collaborated. And that's a creative studio and photography movement. And it's also a community tool. And I use photography as a means of therapy. I think the camera is just a vehicle and a tool for us to get closer to one another, again, going back to human connection. And so there is a therapeutic element, but there's also a storytelling element. Everything I do goes back to the story, that's what I really care about. So I could go on forever. But hopefully that gave you some little picture. No pun intended. i Yeah, that's a great fun. I could listen to this all day. It's so beautiful and eloquent how you speak. And I do like that you talk about stories and intersectionality because I really do see that in all of your work. You try and bring so much together and also highlights so much out of someone who might not even see it for themselves. I definitely see that with your photography. Also, I'm just remembering a conversation that we had where we were talking about how when we do our photo shoot together, the team needs new headshots, and you're like actually a better word for headshots would be a portrait. And I was like, why and you're like well headshots, a little intense, for starters, with the actual word but it is a portrait
It is the it's supposed to be evocative of that person coming out. And so I love that you take the time to be that intentional, even with just the words and how we use them. I had never realized that headshots were portraits. You know what I mean? I thought a portrait was a painting and a house of an old person.
Oh, that's so interesting. Yeah, thank you for holding on to that. I think language is incredibly important. And I think it oftentimes defines how we see everything. So So yeah, I need to make some kind of a graphic about how people could better describe photography terms. Yeah, I was love that. We need that from you. So you talked about living in four different countries? By the time you were 10? What how'd you move it around? And where would you say that you're from? Like, do you pick one? Is there one you have most sociation? With? No.
I'm a rebel. Come on. Allegra. I knew that answer. But the audience didn't because we also did your podcast and you asked me the same question. I was like, I guess if I have to choose Miami.
Yeah, I I'm really fascinated by the concept of home. And I, you know, the question I asked on the podcast is, where were you born? And how do you identify with that place? Because I think as you sift through how you identify with a place, you can better sift through your own identity, because we are so fascinated by place. It's one of the first questions we ask each other is where are you from? And so I think that's a really interesting sort of topic to kind of, like, unravel, like, what does that mean to us, you know, anyway,
I was born in Houston, but I don't really have any allegiance to the city. My grandparents live there. And my dad grew up there. And I was born in The Woodlands. But 10 days later, my mom took me off to Santa Barbara, which is where she's from. And I do think Santa Barbara feels a lot like home, at least how I imagine home feels like. However I say Home is where the people are. So you know, my husband is my home, my parents are my home, my sister is my home, friends that I really adore are my home. That's where I feel safe and secure. And I think that's largely what home is about. Before I was 10. I lived in of course, the United States of America. I lived in Cyprus, Germany and Hungary, and actually had a British accent until I was eight. I miss it dearly. I think it could largely help people understand, like, how I am just, I don't know, from all over the place. They'd be like, Wait, this girl who's like biracial and has a British accent and, you know, but was born in Houston. Like, wait, what? And that's exactly exactly right. What the hell. But I was born in the year my dad was drafted into the NBA. And so that is largely why we moved all over the place. He was drafted to the Detroit Pistons and then played for the Timberwolves. And eventually, we went overseas, where he played professionally, and it's just a very transient lifestyle, even when he retired from playing, he worked in the front office, and that took us all over the country. And then of course, I picked up a tennis racket, and that took me away from home to Florida, so and then I went to college and another state, and then I couldn't sit still. So I moved to Central America, new move to Nashville, landed here in Austin. And all of those places live within me, you know, I mean, think about like the snapshots of your life, right? It's the same for everyone. Whether you grew up in the same city your whole life or whether you traveled you know, you you see those moments in your mind and when you can place them you know, even if it's within the same city, I think you live a more enhanced life. So yeah, I am from nowhere and everywhere. So all right, let's get into your money story. And every good money story starts with a first money memory, which I always love to ask. So what is yours? The one that comes to mind is that when I was little girl and we're talking like 678 I would charge my family $5 A pop to massage their feet. I think it started at $5 total and then it became $5 A foot. Whoa, yeah, that's good money at six years old. Okay, so then talk to me in general, your mindset around finances growing up and then before you ever got to this Factora Wealth Circle world, I have not always been great with money.
It's like I before maybe the past year, I just genuinely thought money was the least important part. The least no, not the least, the least interesting part of life. So it didn't deserve my attention. That was how I thought of it. And I've always been more about I will make more money, so there's no need to worry about how much I spend. I'll make more I'll find a way I am resourceful and
I'll do anything, I'll find anything to make it back, which has not always been the healthiest mindset. And, you know, thinking about how I grew up, I mean, again, like sports ended up really being a huge component of my life. And so my independency, in large part lived in this deep focus in achieving something that had nothing to do with money. You know, like, oftentimes, I think, especially the generation above us, they raise you to enter into a career, that will take care of you. I wasn't raised that way I was raised, you can do anything you set your mind to anything in the world. And whatever you choose, we will be proud of you as long as you love what you choose. That's how I was raised. And I have I'm with a partner who was not raised that way. Right. He was raised, like, security, you know, choose a career that will, will keep you safe. And I'm really glad for that, because it's a great balance. But I think that has to do a lot with how I view money. Because, you know, playing tennis, I mean, the way you start out in the tour, you don't make money, you know, you are just surviving and doing everything, you can climb your way to the top. And I love that grid. I love that suffering, like take me there to that dark abyss, right? Take me there to those closets. And so, you know, the pain and suffering in debt, like, okay, I can handle that. That was my approach, you know, that Yeah, it definitely gets to a point where you know, you get exhausted living that way. But I remember in school in college, I ended up going to UVA, I played D one for a year. And then I quit. And I, you know, studied fine art. And I ended up having a waitressing job. And then I was a bartender and just worked in service, I ended up working in service for like, eight years. And all that money, I would just blow it and then my, you know, my fiancee, and I mean, my now husband, then boyfriend and I, we became long distance. And I would drive like 18 hours a month to see him, which is also just like, look at me, this the sacrificial person, right? But all of my money would go to those drives, all of my money would go toward, you know, just enhancing my life like committing in other areas, it was never about money, it was always about lifestyle. And as you know, I remember my dad in the beginning, he gave me like a stipend, like an allowance. And I overdraft it multiple times. And we would have these long conversations, because that's how he is talks about, it'd be like Ryles, what are you doing? I don't know. Where's it going?
And so yeah, it's definitely been a journey. But I'm realizing more and more that money isn't just about being greedy. It's not just about like, meeting some expectation, it's about setting yourself up for a life that does not imprison you by a system that is extremely flawed. And that I can get on board with. I am all about dismantling systems. And so that's kind of how I've altered my mindset. Looking at society in that way, which is really important to me, like we look at our core tenants, so just in par with Factora taught me right, like, what do you really care about, I really care about that. And I really care about my ancestry. And I really care about how I was set up, I really care about the fact that I had a roof over my head and that my parents worked their asses off to get me to a certain place to take care of me to take care of my sister. And so I need to honor that, you know. And so that's kind of where I've arrived personally. And it feels really good, I feel a lot more organized. I feel like I'm a better person, I feel like I can set up maybe a future generation if I choose to go that route. And it's very liberating. Yeah, I definitely want to dig into that. Make more mentality, because I also had that I wonder if that's the independent woman in US where I thought, okay, if I want a big life, then it's on me. I'll just make more, more, more more. But if I didn't save or keep any of it for later, me, it was always sliding through my fingertips. And that's what at 30 years old, was my wake up call. I'm in New York, I'm making so much money. I knew that I could go and make more money. Every time I switched jobs, I could demand more I could make more I was in sales, I was in charge of my commission, etc. But I would look at those bank accounts and just think, where did it all go? Like shit, I did work really hard to get it. And it's way more than I used to live on. So where's the difference? And that just drove me crazy for long enough that I knew I had to do something about it. That's literally why I created Factora because I just thought there's too many of us doing this. We're working really hard. And we think that we can always make more but what if you can't
At What if you can't go to work tomorrow because something happens to you. So it's just, it is almost like that blend of you and your partner absolutely believe you can do anything but also believe that your security is important. And how can you set yourself up for that security? So then talk to me about when you
were done with tennis went into service industry? How did you find your way to a camera? I mean, was it from your fine arts degree? Or when did you start the woke beauty process? Well, I actually, and my dad's a huge mentor, so I might reference him a few times. But I'll never forget, when he told me when I was like, considering my rates, he said, Riley your entire life? Is your experience. Because I was like, Well, I don't know, do I have enough experience? He was like, yes, you have 27 years of experience, every single thing that you have lived, every single thing we have ever taught you every place, every activity, every job, every school course, all of that went into who you are now. And that was like, such a great lesson to look at your life as the value, you know. And so going back to how woke beauty became a thing? I mean, I don't know before conception,
you know, it's been a thing forever, I just didn't know it. Right. I really do believe that. As far as looking at it a little bit more literally, I think I you know, a lot of life is how you were nurtured and how you know, your, your actual inherent nature, think it's like a beautiful blend of both. And if I look at the nurture, my parents are extremely social, just authentic, like actually authentic, not the trend word, authentic,
beautiful, open people. And we were always surrounded by, like, just this multitude of human beings. And, you know, it's like the blanks house, which is my main name, that was the place to be, you know, and it was always about this, like communal love. And, you know, everywhere we went, they had a camera. And they didn't really I mean, no offense to them. But I don't know if they really knew what they were doing. The pictures were beautiful, though, because they were social. And they knew how to break down people's walls. Like my mom is the girl, the woman who talks to anybody, and my dad is the person who just has this like innate ability to pull things out of people. And so I think I grew up watching that. And it became a large part of who I am and what I care about, you know. And so photography is like the third act like it's people first, it's all about people. And I've always loved people. And I've always been around people who love people. And so I think that in large part was like, my first training. And then I ended up you know, I spent one year in high school. I know that sounds bizarre. I was homeschooled for the majority of my adolescence, because of tennis. I ended up moving to Cleveland after my parents separated. And I spent a year in an all girls school. And it was a great experience. elbaite a bit strange, and, but there was a photography class there. And that photography teacher believed in me, like she saw these pictures I'd taken with no education, no idea what I was doing, and she would submit them to like awards, and I actually won a congressional district award, I was flown to DC, like I had this beautiful experience and that, you know, when you when you do things like that, and you don't even try, it can instill a lot of confidence in you, especially when you're a young kid trying to figure out who you are. And I was in the middle of really reconsidering if I wanted to play tennis and, you know, my tennis path was arduous. It was intense. A lot of bad things happened if I'm to be honest, and they might have happened whether tennis had been a thing or not. But as a kid, as a teenager, I blamed the sport on a lot of it. And so I was really reconsidering how I wanted to live my life. And after my first year of college, I decided to quit, in part because the fine art would not blend with the tennis it was Deewan you know, we were top 10 in the country, I did not have time to do both. And so I in part chose art. And not that long after I decided to quit, I met my now husband and so I actually considered tennis to be my ex husband. It's a whole thing or ex wife, I'm not sure. But um, anyway, so you know, college was maybe the third iteration of photography and sociology was a huge part of that I was so fascinated by how like the camera could like, bring me together with people or could bring people together with me. And what happened when you really sat down with someone you had a conversation and then you took their picture there was like this transcendental moment. And that was the beginning and then I worked in service, unsure what to do with my degree. I was kind of a mess. To be honest, I felt like a mess. And few years ago, things took a turn. I had a really intense extended episode of depression and I have not fully
publicly discussed what that turned into. But it became a large part of how I see myself. Ironically, it's probably like top five marker of my identity yet I'm not open about it beyond I counted six people in my life. So one day, I'll get there maybe soon. But it's a huge part of what beauty actually, I do say that the brand has been spearheaded by my mom, you know, photography allowed me to show her how I see her to show her her worth, she had a lot of childhood trauma, and you know, has really done a lot of work to heal that inner child. And as her child who is in large part, also her friend, you know, I have found that photography was kind of like the missing piece that allowed me be like, if, if no one can see me, but I'm pretending like I'm giving someone a gift. Like here, mommy, this is how I see you, I can physically show you the pixels of how I see you. And I saw her reaction to that. And I wondered if I could do that for all women, as many women as possible. And that became the beginning of this, like, click Oh, like, this is what I meant to do. With this medium that is so often saturated and misunderstood and overused and objectified. Maybe I can make it deeper than that. Like maybe I can use it to show people who they really are to help them step into their true selves. And I did, and I'm still you know, on a journey and figuring it out. But it's been really beautiful to watch it unfold.
I hope the rest of the audience is enjoying Storytime with Riley, because I'm just so enamored with a lot of this story that I didn't know. And obviously, we've only known each other for about a year. And it has been a lot of fun getting to know each other. But this is deep stuff. So your listeners are lucky. Okay, well, I want to get into some of the the numbers. Well, actually, before we do that, can you just explain what woke beauty is because it's, it's a it's a whole brand. And there's a lot of components. And I want listeners who are going to love this conversation to be able to go and explore it a little further, but just kind of share. How do you define woke beauty? Yeah, well, we did just revamp the website. Very proud of it. So please go check it out. I spent well, my whole life. I'm just kidding. I spent six months on it. I worked with this amazing girl, Ashley Keith from the fourth house. And while she's an incredible web designer, I do owe a lot of it to myself. I wrote all the copy. I had an editor check everything. But there's, there's it's pretty dense, if you can only imagine so. So yeah, please go check that out. It's really kind of like a living archive of what woke VT is, but if I had to explain it via voice, to simplify, I do consider a creative studio. I mean, it's a it's a floating virtual in person, real life creative studio. It's not literally a place, right? We don't like places here. No, I'm joking. But think of like architecture or place as something that you can like picture in your mind, right. And that's what it is. It's a creative studio in that I provide photography. But photography is the medium to storytelling. And so it goes beyond that. I also do consulting, I have a membership program, I try to find ways to work with people on a regular basis because building that relationship beyond like a one off is what it's all about. Every photography session comes with a quote consultation, I prefer to call them soul reveals where I really get to know who the woman is, what she stands for what makes her tick, and why she actually wants to have a photography session. So often we're like, oh, it's for branding. But it's not just that it's more than that. What's the purpose, what's the why? That's what makes a photograph beautiful. And so really, again, that human connection, that conversation is what allows me to kind of like be privy to this gateway to someone's heart. And then when we actually meet for a session, it's like, oh, walls are down, I know who you are, you know that I appreciate you and that I see you, you can be whoever you want to be, you can totally like step into this field with me and just like let it all go. And I will affirm you and direct you and there will be this like, really special experience. And so I don't call them shoots, I call them sessions I call them experiences because it's so much more than photography. I always say the camera is like just a witness, you know, like they're not they're not even a main character, whoever they are, this is about us. And so that's really the photography piece. There's also like this writing piece where I really love to encapsulate who a person is via words because I think the words take the photographs further like you can look at a picture as an audience and you can conjure up something in your mind but what if you knew more What if you could actually step into that person's like lived experience like how they
interpret life and how they interpret themselves. And so oftentimes I'll sort of paint this picture of what a session looks like. But we talked about where this person comes from, right, and why that is important to them. And then, you know, whoever the viewer is, and the person themselves, right, the subject themselves, they can better understand what this is all about, and why we just spent 90 minutes messing around with a camera, you know. And so woke beauty is really about awakening the beauty within, it's about challenging systems, it's about challenging yourself and stepping into your truest form. That is what really makes my heart beat fast and gives me goosebumps. And I'm just hopeful that like, if even one life can be altered, and it's just even like, by a centimeter, I would be happy. And I would say that that little centimeter is a collaborative process. And I think it's really important for photographers to take responsibility over that and to recognize that we together like in Unity, we are the ones like collectively that can change the world. It's not just about the viewer, it's not just about the subject, it's about us together. And that's it. That's what we do.
Oh my gosh, I love it. I love what you just said about even if I can just change one world, I think that all the time with Factora. I'm like this is worth it. If I help one woman change her financial mindset and competence around money. And so I love to hear you say that about your brand to because it's how we can live and breathe it because it's truly like one is just as important as 1000 100,000 a million to me. Okay, number time. You ready? Yes. I'm ready. All right. So you started woke beauty and about 2018. Right. So can you give us a bit of your revenue journey with that business and where you're at today? Yes. So I consider March 18 2018. The day started it is it's a pretty special day for me. And so that is why it's a whole story. So yeah, if you want to know more we can talk about later. Anyway. But that year, I brought in $18,000. And I was again, kind of a mess. I was actually working at a local boutique hotel and catering. I was like one of the people in the back that would like carry trays. It was honestly kind of a demoralizing job for me. But I had to do what I had to do to like do what I want to do what I wanted to do, you know? And so yeah, the the photography brought in $18,000. But that was not all work beauty. That was a mix of freelance and work beauty. So it was a very baby step. And it was not a whole lot of money. That's not so baby though. Because we have a lot of women go through the wall circle and pick up side hustles hoping that they can make I think a lot of people kind of pick this $1,000 A month number, but it doesn't matter if you make that a month when they pull that out to the year goal. It's 12,000 for this new thing I'm doing so 18,000 for this new venture is pretty good for year one. So you were still supplementing yourself with other jobs. What about your two? I just want to say really quick, it's important that I'm hard on myself. But also, this to me was not a side hustle, because I had an education, because I picked up a camera when I was 15. So to me at 27 to make that much. I was like, I don't know. Yeah. 27 I couldn't even sustain myself from an education. You know, that's how I saw it. And I've been taking pictures for tiny, you know, well, that point seven years. So if it had been brand new, I could see myself being like, oh, any amount, but there was so much pressure because of how I viewed my past. Did you have a set goal for that first year, I wanted to make my age. So I heard once the Oprah like when she first started out in journalism, she said she would put on the her wall. And I might be telling it a bit wrong. But it's close enough. Something like just make your age. Just make your age. And so that's that was my goal. Yeah, I wanted to make Okay, so you fell a little short the first year, but it was it was still something and you are hard on yourself a very. What about your two? So your two I brought in $60,000. And that was pretty much all woke beauty meaning I was really living out the mission. But then my husband and I also rented out the front room of our house through Airbnb, and we pulled in 12 we pulled in Yeah, $12,000 collectively for that. And then at that point, I was also acting and modeling more regularly, so I pulled in 6000 for that. And then I also had a tennis coaching job, which brought in 3800 because it ended up sinking that's a whole other story. And then there was miscellaneous income of just like Sure I'll walk your dog or do you have children I can babysit. And that was 2700s. So yeah, it was a hodgepodge. Okay, but the 60,000
And it was from all of those are just woke beauty just woke beauty. And yeah, that so so the 12,000 was split between the two of us. And then there was the 638 27. Yeah. So I don't care about the miscellaneous I care. I care that your business more than tripled year two, and was more than double your age you're too so Oh, yeah, thank you I forgot about that.
I'm like it wasn't
how quickly we forget we really do. I think humans in general, when they want something really badly, and they go after it, it's a beautiful storm, because it's hard to get what you want without ramp time. And we don't give ourselves that we don't think we don't think that part through we just think I'm doing this. Here's my goal. If I don't hit it, I'm a failure, you know, and that's just totally not true. Because if Oprah had changed it to I want to make double my age next year. She might not have hit that, but you did. So okay, what about the 2020 2020? My goal is 100,000, and my bookkeeper slash financial coaches, and I decided that I hit it even though it was 98,000. So close to 100% Hit it. And what about this year? Because those are big jumps 18,000 60,000 98,000. And now it's 2021? What's your goal? My goal is 180,000. And how are you doing? Pretty well.
I'm doing well. Yeah, I have people who are really pushing me. And that's, that's really helpful. Surround yourself with people who, who don't just affirm you, but who push you, you know, so totally, yeah. Let's go. All right. Well, then, talk to me about. So what was your financial situation? prefactor? Did you have money saved? Did you have money invested? And if you want to wrap it all in kind of what were the learnings and changes you've made since taking the wall circle? So I have paid off a lot of debt. I've paid off two credit cards, and I have one more to go that I've also paid down. I have about $4,500 left on that card. And then you're totally done with consumer debt. Yeah. After that. That's amazing. Yeah. Do you know the total that you've paid down of these credit cards, like $12,000? That's amazing. Yes. And also just goes to show how much I've lived beyond my means. Because even though that's my revenue, I have also been really strict about what I pay myself, in part to teach myself a lesson. But also because I want to be really smart about how woke beauty sustains herself. And so you know, and that's a sustainability is a core tenet of her. And I do think of her like a person. I've described her she's beautiful.
I want to be like her. Anyway, so I'm really careful about that. And I think that's a really important lesson that I'm really glad I I've learned early on, just because, you know, I mean, I didn't have a business account until a little over a year ago, I didn't even I wasn't even separated. I was just like, Woohoo, this is great.
But now I have very clear lines. So and I see that happen all the time. I think a lot of people who have entrepreneurial spirits and they go for it, they see it all as one at first anyways, so a lot of times they have to and Ravel a bit, which it's only worth doing for protection, but of both parties business. She the woke beauty and she the Riley. So okay, and then what else? What did you have financially kind of going into the wall circle, you explained you had some credit card debt you've been working on? 12,000 down? That's amazing. What else? Did you have any savings? Did you have an emergency fund? Did you have any investments? And what about today, I have an emergency fund I had and I have one which you know, highly recommend I you know had to replace all of my tires and my air conditioning at the beginning of the year. That was a whopping bill. I was so bummed. But I was also really proud that I didn't have to go into debt or dive elsewhere.
So emergency fund big fan. My husband and I have been really intentional about saving for our honeymoon, which is also a big deal historically we would not have done that. And so you know those things, the fact that they've sustained because historically like basically at the end of the year I've been like Hell yeah, I'm gonna save this much money I'm gonna pay off all this I'm gonna bring in all this and then you know come May light on why just like would fall off and so I'm very proud that you know, now that we're a little over half of the year what how is that possible?
You know, I'm still doing quite well and I do think Facotra it helped a lot with that. Even just that accountability in the organization of it like meeting
So frequently having the Slack channel like staying connected with people. It just like kind of had money front of mind. And it made it okay to have money front of mind, you know? And so yeah, it's just that that sustained lifestyle and that sustained consciousness has been really frame totally. And I think I heard you say earlier that you really liked that Factora Our focus is on values. Do you employ a values based budget? Or how do you work your values into your spending? Yeah, I do. I wish I had written it down. Because I mean, there it's, of course, every value has paragraph.
Good. But actually, one of them that comes to mind is rebellion. I love because you yours are really
unusual. You know, it's not like intelligence is not like a basic word. Like, I think one of your kids. Yeah, right. Like, I love leverage. Yeah, they're weird words, creativity. Yeah. But they're, but they're so important. And it just goes to show that you've really thought about it, you know, the rebellion world where it is really important, because that goes back to my mindset around money, like I want to rebel, rebel against systems and structures that hold us back. And so with clothing, for example, that's really important, right? The structure of clothing is screwed, you know, for lack of a word that I shouldn't say right now. And so, you know, I'm not going to pour into a system that is really harming our beautiful mother earth, like no, and not, it's not just about purchasing sustainable, it's about just not purchasing, like, your closet is beautiful, just the way it is like dive in there and get creative, you know, and so I could go through each one, but it would take a while I think the rebellion, one is the one I'm most proud of, and the one that I stick to most intimately, like, how can I challenge a system, and it's maybe one that I've embodied and might not even live outside of myself, you know.
And that's really helped me to analyze, like, for example, like my space, like the studio, I built it with my friend. And we did this together during quarantine. And I could have hired an interior designer, I guess, or like, relied on Pinterest. But instead, I rebelled against what a lot of people do. And I got closer to my friend. And I relied on her eye and her creativity. And we had this like collaborative experience, which is like at the center of my business, you know, so really considering what I care about and how that questions the world is really important to me. And that's been a defining a defining factor. I think there's also just a lot of judgment around how we spend our money, and so rebelling against the judgment. Like if I want to spend a couple $100 on a pair of shoes, that's my right, you know, I'll probably wear the shoes into the ground. And that's important to me, you know, it's important for those shoes to hold my feet. We love me going back two feet, I love it. I think rebellion is a killer example of how personal a word can be. And what it can be evocative of so that you understand that value, no one else is going to know what if you were to list your values, no one's gonna be like, Oh, I wouldn't know how to filter a financial choice with the word rebellion. But you do. And that's all that matters is that you can use it as a framework. And that's what we we love to give women in the wall circle. So did you have any other aha moments from the wall circle?
Aha Moment moments? Well, there was the time. I mean, this is in the very beginning might sound a bit simple, but we really don't do it very often. And when we do, it's like, you know, I don't know, I feel like it's a common question when people are like having a couple drinks together or something because they don't know what else to say. But the question was, how would you spend a million dollars. And what made it unique is that it was like a journal about how you would spend a million dollars instead of like having a conversation with someone about it, you had to have the conversation with yourself. And so then I got really reflective and introspective about, well, if I got a million dollars, that's a lot of money. And going back to the core values, like what would I really want to spend that money on? The first thing that came up was, I would want to give enough to my mother in law so that she could retire. That was like the first thing that came up. And I just that matters so much to me, because I love her and I care so much about her well being and I see how work affects her. And so that speaks to my relationship with her. And so every single like element that I chose, somehow defined how I see life and how I see my relationships and how I see my behavior, and how I see like, how I want to live, you know, and so I loved that exercise. I think it's really important for us to do it often and see how it changes and I agree
that that would be so different as a conversation over drinks, because I've had that conversation and everyone would buy a condo and a yacht and a new wardrobe. And that's not what factora is about. We always say like, yes, we want to create a million women, millionaires, but it's not so that you can jet set and have lifestyle creep, it's so that you can be really able to be the change you want to see in the world, both personally with your family, but then let that flow out to your community. Because when you have enough, you can turn around and think about who else might need more. And your first thought was my mother in law, being able to retire her early. That's so beautiful. That is why money is beautiful. And I hate that it gets a bad rap. Because, like you, I thought money was not not important, but just not I just thought it was tacky, like not something that needs to be discussed or focused on, it should just be kind of a, like a symptom of my hard work. And now I'm like money is the tool, the best tool in our toolbox to create the life by design. And we both are designers, you know, we want to design a beautiful life around us. So I love that. I'm glad that stood out to you. So what are big financial changes you've made since joining Factora talk me through. So I think more than anything, I just am so much more aware of what I'm doing with my money. Admittedly, like before fact, Torah I've I've had a financial coach and bookkeeper who has been incredible. And I owe a lot of my growth to her. The way that Factora was different is that it really like expanded my vision. So like with her, I kind of have the blinders on. I'm very focused, like there's, there's just this different energy with Factora. I felt like the horizon expanded. And really like caring. A lot of it was hearing other people's experiences, like not realizing that there are women who have a million dollars in investments like, oh, shit, that could be me, you know what I mean? Or realizing that like, No, this person literally knows nothing about investing, like, Oh, that's great, say, you know, or whatever, like being able to align with people being able to look up to people being able to console people like all of that just created so much more ability to think deeper, and also to like, really consider how money functions. And so on that now I just feel like I'm more not necessarily cautious, but just like purposeful around what I do with my money. Also further, I have to tell you, that you know, the podcast interview that we had, especially the parts of the end, like I wrote down the numbers like the minute counters, and I went home after my walk, because I really listened to it. And I was like, Jack, that's my husband, you have to listen to these little clips, just listen to Allegra speak for it. And it's total, like seven minutes, you can do it. And he was building a Gundam model, I don't know if anyone is the animators, but I was like, you can do it while you build this gun to map model, you're gonna be fine. And it had a large impact on him. And we ended up building a plan because it's student loan debt, his payments will kick back in after you know, this wild ride. And they're, they're pretty astronomical, even though he's gone through the whole process that you have to go through to consolidate etc. And so he, you know, he's, there's stress there, right? And so I was like, we're gonna make a plan, we got this, and it's not going to be a budget, right? It's going to it's going to exist around your core values. And so like, while we set some boundaries around, like, what he could do and what makes sense for him, we really use like the fact or mindset and so, you know, I think it's really neat that what I learned through the wealth circle, I could pass on to someone else, you know, and that just kind of goes to show how like this can become it just it has a lot of reach. And there aren't a lot of entities like that. So yeah, I feel like I owe a lot to you. And those ladies for making us all better people well, it's it's really you all making each other better because your story at the beginning of like, Oh, I just met this woman in a breakout room. She's already got a million in investments. And this other woman is like me and feels a little confused about the whole investing where to start thing. That to me is the power of the community. And really the true definition of Women Helping Women right, because you can mentor and mentee in that same group. And then I love how you brought it to your husband because Heck yeah, women helping everybody you know, like how do we take our knowledge and make sure it goes down to our children and to our partners? And so I love that.
Yeah. Okay. What is your net worth? The reveal?
my net worth is $35,000 Love it. Thought you're gonna be like candles.
I know. I have a lot of candles. I love that
Okay, and you know, you are very busy building a business. So I already know that your favorite investment asset class is business investing, you have been investing in you, the actual you, but also the like expansion of you with your brand woke beauty, you've been doing that for three years and no stopping you, I know that that business is going to boom, the thing I love about entrepreneurship is that there is no ceiling, there's no, there's no manager to hand out a salary until you That's it. And so you've already seen your revenue, double and be exponential that someone couldn't do in a corporate atmosphere, right, we're all kind of a slave to the three to 10% Raise based on perform, you know, it's just, it's a really arduous process. And I feel for women there, but I know there's a lot more security there than there is in our line of work, where we're making it up as we go and building the business as we go. So I guess I would just like to know, what would you tell someone just starting on their personal finance journey? And, and maybe the filter is, especially if they are an entrepreneurial or creative pursuit?
Yeah, so I want to answer that. And I want to start by saying as far as like net worth and value goes, because what you just said, kind of brought it up for me, you never know the value of your own business, you know. So while I see my personal net worth, as what I said, I don't know how much my business is worth, it is unique. There are a lot of aspects of it that I created out of thin air. And so maybe one day if not now there is this possibility that I could sell it, you know, I would never, honestly never say never watch in 10 years when you're like, oh shit, I shouldn't have said that, you know, but, um, but like, what's the net worth of my business? I don't know, you know, so I do think like, there is something to be said for reconsidering the definition of net worth. And of course, this isn't me rambling against language. No, but I think that's actually a really, really good point. Because also in my net worth, I only include my personal net worth, I include Allegra, Mo at Bradley's assets minus her liabilities, even though I am a the majority owner of Factora, I do not include it. And that's because it hasn't had a value as of yet. But it could be valued, we could get a valuation, we have a lot of IP, we have a lot of customers, there is a value there. And same with your business. That's another kind of special characteristic of that business investment asset class because it could not be valued at anything for a while. And then it could be huge, or you never value it. And yet, the amount of revenue, profits, passive income you can build into it. I know you're interested in maybe creating some educational products to teach other photographers or other people how well I won't speak for you. You can get into that if you want to. But but that is all a core piece of the business that can come back to your net worth. So I totally agree with you. Love that. Love it when we're aligned. Are we ever not? I don't know. We're very aligned. There were so many things you said when you were like I have strong fingers. I was like, Haley, I have strong fingers have I never told you throwing my fingers. I mean, I've seen you hold an apple like a boss. So I can palm a basketball. I also played piano that would have been the career that people thought that I should have. Because it you know, eight years old, I could reach an octave and a half. But anyways, and then I went to an all girls school, I didn't know that you gone to an all girls school. Very cool. I love that. But anyways, back to what you would tell someone just starting their personal finance journey, especially if they're creative.
This is honestly universal advice that I give and it is simple. Your perspective determines your reality. And I've been challenged on that. Some have said, well, what about your reality determining your perspective? And to that? I say, well, what's the difference?
Everything is perspective based. If you think you're rich, you're rich, you think you're poor, you're poor, you think you don't understand money. You're right. You think you can't start a career you think you can't go off and allege and jump and see where you land? You're absolutely correct. And so I think that, you know, there's a lot of autonomy there that we have the power to construct our lives. That is, oh, that's everything. We don't talk about it enough that our minds are truly incredible, endless parts of ourselves, the most important parts of ourselves and when we combine them, oh my goodness, you just watch you just wait. So just know that you are the keeper of your life that you can truly build anything you want. And I think once you can truly tap into that
The world is your oyster.
Oh my gosh, we're gonna put that into a clip and send it to, I wish I had an email database of everyone in the world because I believe every single word that you said, I feel like that's what I try and preach, I definitely practice it. I was saying that money is a powerful tool, but it starts in your mind, right? The business the ideas that everything starts in your mind, that's our most incredible
asset that just can't be contained. Like, it's, it's so huge. And it just, it's up to us to tap into it. And that kind of reminds me of what you said in the beginning of this episode, that you believe in, laying stones out for you to walk that path, you can't just put your foot out and hope that a stone will be there. And that's all from your mind and believing in your own ability. So on that note, Riley, read, woke beauty. Beautiful woman. Thank you for coming on the coffee and coin podcast and sharing your story today. Thank you for having me. And thank you so much for creating a space where money means so much more than money. I just am truly enamored by what you've built and your ability to expand our minds.
Yeah, I rarely don't have the words. But in this moment, I don't think I have enough words. So that's because you just said the best words all in a row. And they were beautiful. Thank you. Thank you. Thank you. Thank you. If you enjoyed this episode, come join us in a well circle. It's our live online 12 week course and community where we teach you how to create a personalized financial plan alongside hundreds of other women building wealth. It will change your life and your money for good. You can apply at factorawealth.com forward slash wealth circle. That's factorawealth.com forward slash wealth circle. See you in the next episode.