Donovan Ryckis Answers 7 Financial Services Questions Everyone Needs To Know About
In this Episode of Enlightened Entrepreneur Podcast, finance expert, Donovan Ryckis answers seven financial services questions every business owner needs to know the answers to. He emphasizes the importance of how to go about managing your taxes, student debts, and insurance.
Key Questions Asked:
- What would be the smarter way for any business owner who are just getting started to pay off outstanding balances that could hold them back from moving forward?
- How much then do they need to set aside or to start to contribute towards their retirement?
- What roadblocks did Donovan face throughout his entrepreneurial journey and how does he overcome them?
- How did Donovan get his first client?
- What is the role of mentors in his early years of running a business?
- Knowing what he knows now in terms of running a financial services provision, what would Donovan do different if he were to start all over again?
- What things would he do more of that resulted to increase in his return on investment?
Highlights of Lessons Learned:
- It’s not always the best case scenario to pay off all the student loans all at once just because you have it.
- A better way to do this is to keep making the minimum or regular payment of your student dept and use your extra money to start a private pension for yourself.
- Because the industry is so vast, opening a very defined business became the first roadblock that Donovan faced when he was starting out as an entrepreneur.
- Donovan has tried every marketing technique possible from making cold calls, following up on people, knocking on people’s doors, buying internet leads, to networking and attending seminars, using direct mail, getting client as well as professional referrals.
- Anybody can be an entrepreneur. It’s not always the smartest person getting it done, it’s usually the person that’s working the hardest, so if you want to do it, just do it.
- Everything he did and his accumulated experience from when he first started his business all contributed to Donovan’s success that he doesn’t think he will be able to reach his current status otherwise.
- Donovan would have worked harder to have more clients right from the start, because a lot of times people focus first on making their product or service perfect, but the most important thing is having the clients for it.