"As an entrepreneur, you have to keep persevering and fail forward fast" with Sandy Yong
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Sandy Yong is an award-winning author of The Money Master. Sandy has generated a successful self-directed financial portfolio and owns several rental properties. As a Keynote Speaker, she teaches female millennials how to create wealth through investing. With each book purchase, Sandy proudly donates $2 to CAMH: The Centre for Addiction and Mental Health. Her vision is to help people feel comfortable conversing about money and mental health, as both can be sensitive subjects and impact our daily lives. Visit www.SandyYong.com for more information.
Can you tell our readers about your background?
My name is Sandy Yong and I am an award-winning author of The Money Master: Inside Secrets On How to Make Your Money Grow and Stay Safe. After graduating from university, I worked towards paying off my tuition and started working in the corporate world. I realized that I needed to save my hard-earned money and look into various investment options to achieve my financial goals, such as buying a car, having a wedding, down payment for a mortgage, going on vacation, and ultimately retirement.
Like most people, I went to one of the big banks and purchased high-fee, high-risk mutual funds. Soon after, I lost thousands of dollars and I was frustrated and upset. From that moment, I decided to become a DIY investor. A friend of mine recommended me to read Rich Dad Poor Dad by Robert Kiyosaki and since then, I have read a plethora of personal finance books.
By the age of 27, I amassed a 6-figure portfolio as a self-directed investor. In addition, I own several Canadian rental properties with my husband. This motivated me to write my book so that I could help teach young professionals how they can create wealth through investing. Now as a Keynote Speaker, I can combine my passion for personal finance with public speaking to help educate female millennials on financial literacy.
What inspired you to start your business?
After a few years of working in a corporate job, I realized that I wanted to be my own boss. I also wanted to create multiple streams of income to ensure that I have a safety net. Becoming a professional speaker and personal finance expert has been a natural progression in writing my personal finance book and speaking on this topic at workshops and conferences.
Where is your business based?
My business is based in Toronto, Canada with a focus on helping Canadian female millennials.
How did you start your business? What were the first steps you took?
After deciding that I would start a business providing my keynote speaking and financial coaching services based on financial literacy, I created my business, The Money Master. While writing my book, actively promoted and marketed my business before my book was published. Within my first year, I was featured in 40+ media outlets.
Furthermore, I am honoured to be partnering with CAMH: Centre For Addiction and Mental Health to support mental health research and families who have been impacted. $2 of each book sold will be donated to this charity. My vision is to make people feel comfortable having conversations about money and mental health since they can be sensitive subjects that can have an impact on our daily lives.
What has been the most effective way of raising awareness for your business?
I use a platform called HARO where I can provide my expertise to journalists. I have also sent out press releases to the media. This has been an amazing way for me to be featured in The Toronto Star, NBC News, Yahoo! Finance to name a few.
What have been your biggest challenges and how did you overcome them?
I would say the biggest challenge is having self-doubts. Sometimes it can be easy to let fear stop you from doing something. I overcome them reminding myself that I am capable of achieving my goals. I do this by reading my daily affirmations so that I visualize all the things I want to accomplish.
How do you stay focused?
I have a whiteboard that shows my monthly goals that I want to achieve. This serves as a checklist that I can review daily to keep me on track of meeting my business goals.
How do you differentiate your business from the competition?
I focus on my niche and find out what problems they are facing to provide solutions for them. In addition, I wrote my book in a practical, easy-to-read format that includes a checklist at the end of each chapter. This way, my readers have can start taking action and apply the knowledge they have learned and can start seeing results right away.
What has been your most effective marketing strategy to grow your business?
Another great website is Matchmaker.fm where I can apply to be a podcast guest. I have been invited to be interviewed on numerous podcasts to share my expertise in investing in the stock market, real estate, and entrepreneurship.
What's your best piece of advice for aspiring and new entrepreneurs?
Never give up! As an entrepreneur, you have to keep persevering and fail forward fast. It may take many attempts to succeed as you go through a winding path. As long as you keep trying and learn from your mistakes, then you can grow and develop along the way.
What's your favorite app, blog, and book? Why?
As an entrepreneur, I come up with business ideas and topics 24/7. It's convenient to open up the Evernote app and take notes and organize my to-do lists. It also has many features including sharing your post, attaching photos or voice memos.
What's your favorite business tool or resource? Why?
My favourite business tool is HARO as I can be a subject matter expert for a journalist and be featured in a variety of media outlets. This has included various news, magazines, radio stations, podcasts, and blogs.
Who is your business role model? Why?
I look up to Warren Buffett and his company, Berkshire Hathaway. I saw his documentary “Becoming Warren Buffett” and it was fascinating learning about his upbringing and how he can become a successful investor. I also admire that he gives back to numerous charities to help those in need.
How do you balance work and life?
I schedule all my tasks on my Google calendar. This way I can prioritize things and ensure that I am accomplishing all of my personal and professional goals.
What’s your favorite way to decompress?
I enjoy meditating to clear my mind and focus on the present moment. I also go on daily gratitude walks with my husband around our neighbourhood. This way we can reflect on our day and share the things we are grateful for.
What do you have planned for the next six months?
I plan to grow my keynote speaking and financial coaching business. This way I can help more people to determine their financial goals and help them achieve them.
How can our readers connect with you?
You can find more information at www.sandyyong.com. Connect with me on Facebook and Instagram @themoneymasterbook and Twitter @moneymasterbook.