Dynamic Business caught up with two leading female entrepreneurs who share the secrets of their success.
Sarah Reigelhuth is the co-founder of Wealth Enhancers (pictured left) as well a co-founder of business networking group, the League of Extraordinary Women. Suzy Jacobs (pictured right) is the founder and CEO of SHE Business.
What convinced you to start your own business?
Reigelhuth: “Running my Dad’s business (also in financial planning) for several years gave me the confidence that I had the capability to manage and grow a business, and I’d found a passion for providing goals-based advice to younger high-achievers, so when I met my now fiancé, Finn Kelly, at a conference in 2009 and discovered that he shared my vision, I knew I had found the perfect person to start Wealth Enhancers with. In 2011, I also launched the League of Extraordinary Women with Sheryl Thai, Marie Cruz and Liz Atkinson, after being frustrated with the lack of women participating in the entrepreneurial community.”
Jacobs: “No convincing necessary, it’s where I operate best. I had that 3am moment when I just knew what I was going to do and I’ve been doing it ever since.”
How has your business grown?
Reigelhuth: “We have grown really quickly, I think this can be attributed to us starting with the mindset that we wanted to build a national firm, our motto has always been ‘approach every business innovation as though we’re 100 times bigger’.”
Jacobs: “By working at it all the time. By giving personal and excellent customer service. By adding value and continuing to rise to challenges and lift our game.”
What challenges have you faced along the way?
Reigelhuth: “I think tall poppy syndrome is probably one of the most regular and common challenges we face, whenever you’re moving quickly and changing things, people love to criticise and look for holes in what you’re doing. As younger entrants into the financial planning space, and me being a female, we have incredible supporters within our profession, but there have always been critics.”
Jacobs: “Same as most business owners. Cash flow, growing pains, building the right team, not getting disheartened when it seemed to go off track, riding the highs and lows.”
How have you managed your personal time and the time you put into the business over the years?
Reigelhuth: “I just live! It sounds strange but I don’t really see life and business as separate, I love what I do and I just do what needs to be done.”
What role do you think business has to play in the local and global community?
Reigelhuth: “The most amazing thing about business is that you have the opportunity to create something out of nothing. I think as entrepreneurs we often forget just how much we are contributing to the community, being involved in the G20 YEA Summit in Moscow this year gave me time to focus on a few things, and the fact that we provide employment was something that really stood out to me, I hadn’t really considered the power in that before.”
Jacobs: “As role models and leaders we have an obligation to evolve, to question the status quo, to offer true value and to be of service.”
What tips do you have for young entrepreneurs?
Reigelhuth: “Don’t give up! I truly believe that a huge determinant as to whether or not a business will succeed or fail, is based on just hanging in there. Learn to love the roller coaster that is entrepreneurship, don’t take things too seriously (that goes for the ups as well as the downs!) and just stick with it.”
Jacobs: “Be passionate, follow your dreams, understand your skill set, and enroll others in your team who have different skill, get strategic advice and have a mentor/coach/friend to advise you.”