The Serial Entrepreneur

Background

Jayden and Tonya believe that they are “called to create” by God. They love seeing opportunities to add value in their community and organize the resources and people necessary to make an idea a reality. They are visionaries and thrive in the start-up phase. They live in Chattanooga, TN and are passionate about using business to create community and culture. They have 2 kids (5 & 3) and have started 4 successful businesses: a branding & graphic design firm, a small “local-legend” restaurant, a retail fashion boutique, and a wedding/event venue. Like most entrepreneurs, they have also had some unsuccessful ventures but they never let the disappointment of a failed start up keep them down for long.

Most all of their “investments” have been into their businesses, so they don’t have much in retirement accounts. They have a business line of credit, a mortgage, 1 car loan, and a few small student loans. 

The Problem

In spite of having started multiple successful businesses and earning a high income, Jayden and Tonya still feel overwhelmed by money. Because they are “starters” always working on a new venture, they haven’t felt a sense of consistency when it comes to money, which can leave them feeling stressed and unsure about where they stand. Their debt has also amplified stress during lean seasons because they know they have to make their payments and support their lifestyle.

In addition, they feel a little confused as to where all of their money goes. They earn far more than they ever have and feel like they live a reasonably modest lifestyle, but they haven’t accumulated very much in savings and investments. As a result, they rely on their business line of credit when things get tight, but this only increases stress since it increases their mandatory payments.

They give regularly to their church but have felt convicted to tithe. However, due to their disorganized finances, they are never sure exactly how much to give. As a result, they consistently give less than 10%.

Jayden and Tonya want to focus on what they love: creating culture through business. But, their chaotic finances often leave them feeling stressed.

The Solution

After going through a free consultation with a CKA© at Peak Financial Management, The Walkers realized how much they could benefit from having a team help them stay organized and streamline their finances.

Their CKA© helped them to clarify and prioritize their family’s values and goals, then create a simple plan based on those values and goals. 

• The first step was to start tithing. Their CKA© helped them create a budget that fit their dynamic lifestyle and variable income while helping provide consistency. Tracking their income and spending with a budget made it clear how much they needed to give each month. 
• Next, they prioritized their debts and systematically paid them off, then saved a cash emergency fund so they wouldn’t be dependent on their business line of credit. 
• Their CKA© also helped them set up a retirement plan that served as a benefit to the employees of their businesses, while also enabling them to consistently invest for the future.

The Results

Before working with a CKA© they disliked the idea of budgeting. It sounded confining and stressful. But after creating a budget that fits their dynamic personalities and lifestyle, they love it! It gives them clarity and helps them prioritize spending on the things that matter most to them and they’re never left asking, “Where’d all our money go?”

They are now tithing regularly to their church, are completely debt free including their mortgage, have a strong cash savings for when things get tight, and are consistently investing for retirement in a way that aligns with their faith. 

Getting their finances organized freed up time and money for Jayden and Tonya to focus on their passion. Recently, they launched their latest business: a holding company that invests in local entrepreneurs, allowing Jayden and Tonya to expand their impact by supporting other “culture creators” in their area.

Money isn’t overwhelming anymore. Having a simple, organized system to manage their finances and an advisor to walk alongside them has brought them peace and confidence.

*Disclaimer: All scenarios are entirely hypothetical and the individuals/families described are not real clients of Peak Financial Management. Nothing in these case studies should be construed as a guarantee of results/outcomes of, or satisfaction with services provided by Peak Financial Management.