Emily Chase Smith, a bankruptcy lawyer turned money management expert for entrepreneurs, discusses the value entrepreneurs provide and how recognizing it leads to freedom. She shares insights on navigating business interactions, financial literacy, standing out in a job market, and balancing information consumption for practical application.
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Quick takeaways
By demonstrating value in business, individuals can create financial stability and make informed decisions for long-term success.
Embracing a community-driven approach in entrepreneurship allows individuals to network effectively, stand out, and prove their worth to potential employers.
Deep dives
Emily's Transition to Entrepreneurship
Emily Chase Smith, a California attorney, shares her journey transitioning to entrepreneurship. Initially a lawyer for many years, she found freedom and flexibility in entrepreneurship after working in law firms. Despite a background in law, she found inspiration in bankruptcy work as it allowed her to help people improve their financial situations.
Building a Financially Savvy Business
Emily emphasizes the importance of demonstrating value in business to create financial stability. By advocating for a separate business account to track finances effectively and cash flow projecting for sustainability, individuals can navigate financial challenges. This proactive financial approach aligns with empowering entrepreneurs to make informed financial decisions for long-term success.
Community Support in Entrepreneurship
Emily highlights the significance of the supportive entrepreneurial community compared to the competitive legal field. Encouraging individuals to network and demonstrate their unique skills, she underscores the value of standing out and proving worth to potential employers. Embracing a community-driven approach enhances opportunities for growth and personal development.
Resources and Inspiration for Entrepreneurs
Emily shares insights on upcoming projects, including her book 'The Financially Savvy Entrepreneur' and events targeting financial literacy in specific industries. She underscores the importance of continuous learning, alternating between absorbing information and taking action in entrepreneurial pursuits. Through her experiences and community support, Emily advocates for personalized career paths and financial awareness.
Emily Chase Smith comes from a long line of entrepreneurs. She's had many business ventures, some more successful than others. She graduated law school at 21. She lived overseas for 5 years in Prague, Czech Republic with her family and now focuses her law practice on bankruptcy.
Emily now works with entrepreneurs and business owners to help them manage their money more effectively. The guiding principle of her life is freedom. In this interview, Emily explains to Scott how understanding her value and helping others recognize the value you provide can lead to more freedom than you think is possible!
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