Amanda Steadman

Amanda Steadman set up Wealthbabes to educate clients about building businesses, wealth and maximising the internet.

Amanda tells us about her path to success and her plans for the future.

And she shares her top tips on how to succeed in business!

My Road to Success
I graduated in Business, French and German and after extensive solo international travel for almost 3 years, I embarked on a career in sales. After numerous years in recruitment I moved into consultancy and developing people globally within franchising and headhunting. Over the next few years I trained hundreds of consultants and owners in how to be successful. My remit spanned: how to hire, train and retain staff; negotiate, lead, coach and present. My emphasis was on how to create wealth through business and systems; whilst keeping the motivation and focus of the team. This also included consultancy, training and speaking engagements internationally in USA & Europe and in other languages in France, Germany, Czech Republic, Cyprus and Spain.

After helping so many others develop successful businesses; it was time for me to get the courage to do something different and even more challenging. I had to believe I could leave the rather large corporate salary, car and benefits to ‘go it alone’. Over the years I had already begun coaching and running courses alongside my full time job, then began a joint venture consultancy in Resourcing and Training, Movo International. Continuous ‘self development’ and then drama school at 30 (that is a long story!), enhanced performance and presentation skills! After reading the book ‘Rich Dad, Poor Dad’ by Robert Kiyosaki – I realized it was time to make money work for ME!. So I built up an admirable property portfolio and continues to inspire others to create wealth and take action to change their lives for the better. I am passionate about people doing what they love and building sustainable, long term wealth and happiness.

Why did I decide to go into business for myself?
I have always had an entrepreneurial spirit. At 7 I was selling Blakes 7 wristbands that I had made to other infant school pupils…Mrs Vousden wasn’t impressed! I did start a coaching practice in 2001 alongside my corporate role and went fully self employed in 2004. Myself and a partner started Movo Group a Personnel and Resourcing Consultancy. Wealthbabes the wealth success company I founded in came out of an organic need for many of my clients, their clients and people that I met who wanted to find out more about running their own business, investing in property, creating wealth and being successful. So Wealthbabes was born! I also saw a need for women to learn in women-only environments and to be able to open up and discuss what was really going on without having to pretend to be superwoman all the time! Also, because I had invested myself and started businesses I was keen to share all my knowledge to ensure people didn’t make the same mistakes I did. Having a business and using the profits to fund further investments – was also a big part of my longer term vision. What vision do you have for yourself at this moment?

My biggest challenges in business have been:
Trying to do too much myself! Delegation did not come easily to me. Being able to grow as fast as I want to. I have a tendency to be impatient! I did try to do everything myself in the beginning but now I have learned (despite being a Virgo) that you DO have to delegate and get help as soon as your profit margin allows you. I am now looking at putting in more systems to make our clients interactions with us even more clear, smooth and enjoyable. Thank the stars for PA’s. The other biggest challenge has been technology – including websites and internet marketing/pr. We have invested a lot of time in finding good people who can do this better than us and I am lucky enough to have mentors who have shown me the way and helped me avoid numerous mistakes. Again – whatever you do not have time to do (technology is a never-ending learning curve!) do outsource to someone who knows what they are doing (ideally recommended) and can help achieve the objectives of you company. What challenges have you overcome? Give yourself a pat on the back…you can do it!

My biggest successes are:
I would have to say the results of our clients – so it’s not one in particular. We have one client who has recognised her own value, quit a board role that didn’t suit her, set up her own company doing what she loves and looks 10 years younger! We also have another lady who we have worked with for over 12 months. She was originally a Food and Beverage Manager in a 5* Hotel. This week she started working for a millionaire. We think she is amazing! I just love what I do! What successes have you forgotten about? Do you make time to reward yourself for all those little successes too?

What I believe will happen in the economy over the next 1-2 years.
Our market is expanding as women want to take more control over their OWN economy, career, business and finances and hence want information on how to do this in the best way possible. We are still investing in property – particularly the USA and the internet is unlimited! We have even arranged a Business Cruise for January 2010 so we are very positive and watch this space! I have the view that the market will do well and those that see opportunity and are looking for it will find it. You get what you focus on. I have been very lucky to spend time with very wealth and successful individuals over the last few months and they always say this when I ask them about what people should be doing now. They are all investing like crazy and expanding their businesses whilst others are cautious. We have clients that have been made redundant and are encouraging them to start their own business or find something they really love doing. It’s a great time to re-evaluate what you REALLY want, not what you think you want. I believe that the market in its ‘larger economic sense’ will ‘allegedly pick up within 12 -18 months and this is echoed by my network of contacts who are supposed to be in the know!

We are continuing to invest in property, primarily in the US as well as looking at numerous online strategies to promote the business and generate other income streams. Investing in UK property is a little trickier than before, but not impossible if you know the right contacts and can invest the time to make the right investment decisions. What plans do you have to take advantage of the current climate? Investing/Saving etc

The one thing I would change if I could start over again:
I would have focussed on getting a relevant mentor sooner and obtained more information on branding and marketing as well as investing much more in technology! I also would have looked at how to systematise everything! On the investing side – I would have invested in property a LOT sooner and NOT bought a brand new Golf in 2000! Golf was £14k, that could have been a lovely deposit on a 1 bedroom property in Windsor (£140k) that would now be worth around £250k! My lovely Golf is worth £1000…where else could you make that kind of return in 9 years? What one thing would you change if you could start again? What action could you take today to make a fresh start?
Life/Work Balance
I absolutely love what I do so the lines between work and play are very blurred! I love to go walking with my gorgeous French fiancé or spend time with him at home. Otherwise I love going out to eat with friends and family….just loving the food! I’m an awful cook…

Tips for those of you thinking about going into Business:

* Ensure that whatever you go into you LOVE. There is a lot of hard work that goes into getting a company off the ground. If you aren’t prepared to put those hours in, and you don’t like the arena you are going into – don’t do it for the money!! Ask yourself WHY you want your own business. It’s not for everyone! There are ups as well as downs. In my opinion the ups far outweigh the downs.
* If you are in a role already. Start doing all your research.
Who would your target market be?
How are you going to monetize the business?
Where will you get your profit from.
Who are you trying to help?
What are the problems of the market that you want to help?
Ensure that you have a viable business before you quit your job. Maybe you could even go part time if your company allow it. For those who are a bit more risk averse this is a good way to go. Many businesses now can be run from home and even done in the evenings.
* Save up at least 6 months expenses.
* Get a mentor/coach who has done it before – yes we can help!
* Surround yourself with lots of successful people who have done it before and learn everything you can from them!

When you link your passion with your purpose – this is when businesses really succeed and the ‘money’ is the lovely by-product. I love what I do and working for yourself is an amazing way to live. I am a lifestyle entrepreneur.

I spend most of my time now, focussing on empowering individuals, teams and companies to succeed and live life in their fullest potential; by inspiring others through coaching, training, writing, speaking, presenting and letting individuals know that ‘if I can do it, you can too. You already are everything you need to be to succeed. Just take the first step’.

So my challenge to YOU is….what first step do YOU need to take?

To your health, wealth and happiness!
Amanda x

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