Tae Lee of Never Go Broke: Why We Need More Women Founders & Here Is What We Are Doing To Make That Happen
An Interview With Jerome Knyszewski
Women have endless knowledge and capabilities to do and be more. We are the backbone of most companies most and organizations, so we are aware of the internal and external workings of a company. Women care, known and grown which are all essential elements of business and will make a successful founder of any business.
As a part of our series about “Why We Need More Women Founders”, I had the pleasure of interviewing Tae Lee.
Tae Lee, known as the “Money Maximizer,” is an International Best-Selling financial author, speaker, coach, and trainer based out of Birmingham, Alabama. Tae now creates diverse streams of income in the tax, real estate, insurance, and finance industry. Tae Lee is also known for her other financial literacy books, Never Go Broke, Money Success Planner & High School Edition. She is constantly building generational wealth, not debt.
Thank you so much for doing this with us! Before we dig in, our readers would like to get to know you a bit more. Can you tell us a bit about your “backstory”? What led you to this particular career path?
Life experiences inspired me to become an entrepreneur. After I went to college and could not find a job in my field, I had to figure it out. I started waitressing at a restaurant and realized that this was not my calling. From there, I never looked back. Entrepreneurship here I am.
Can you share the most interesting story that happened to you since you began your career?
The most interesting story that has happened to me within my career is paying for better to get less. I went to a company because they had great referrals, but they were not the best. I wanted to support a USA company, but they were outsourcing overseas. I never came in contact with the USA company, only the overseas partner. I paid US prices and received overseas work and the quality and service were not the best. This was an interesting experience and made me realize that I always need to ask as many questions as possible.
Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
It is not really a funny mistake, but instead a lesson I learned when first starting out which is to always pay attention to a person’s lifestyle before creating a business partnership with them. You have to always be aware of the signs and actions of what a person or a friend does because they can be a good friend, but that does not make them a good business partner. I ended up losing tons of money. I thought that friend of mine could be a good business partner. Always remember that friends do not necessarily make good business partners and business partners don’t have to be your friend, they just have to understand business.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
My parents have been a pivotal part of my success. They help and support me in all areas of my life. My parents tie off my loose ends while also making sure I keep myself on track and in order. They constantly push me to do better and great!
Is there a particular book that made a significant impact on you? Can you share a story or explain why it resonated with you so much?
A book that has made a significant impact on my life is “Make Your Bed: Little Things That Can Change Your Life… And Maybe The World” by William H. McRaven. This book has made an impact on me because regardless of what happens, I always make my bed before I leave the house. I never leave my house if my bed is not made because it gives me a small dose of satisfaction. Why I don’t know, but it makes me feel good to come home to a nice, clean bed and this book was a huge part of this newfound satisfaction.
Do you have a favorite “Life Lesson Quote”? Do you have a story about how that was relevant in your life or your work?
My favorite life lesson quote is “I am not the smartest person in the room, but I am the hardest worker in the room.” Many people can be smarter than you, but if they do not have the work ethic or motivation, they will not succeed. When you are a hard worker, regardless of how smart the next person is, you can come out on top and outsmart them.
How have you used your success to make the world a better place?
I have used my success to make the world a better place by teaching as much financial literacy as possible. It is important for me to give back to the multitudes of people that either do not understand or have access to financial literacy information that can set them both mentally and financially free.
Ok, thank you for that. Let’s now jump to the primary focus of our interview. According to this EY report, only about 20 percent of funded companies have women founders. This reflects great historical progress, but it also shows that more work still has to be done to empower women to create companies. In your opinion and experience what is currently holding back women from founding companies?
In my opinion, I feel that what is holding women back is that we are constantly doubting ourselves. Men will go out and start companies and businesses regardless of the preparation or circumstances ahead of them. As women, we need to stop trying to be so perfect and instead let go, be present and grow in the process of entrepreneurship.
Can you share with our readers what you are doing to help empower women to become founders?
I make sure to teach women on a continuous basis the importance of entrepreneurship, the benefits, the work ethic, and how as women we can all work together to reach success.
This might be intuitive to you but I think it will be helpful to spell this out. Can you share a few reasons why more women should become founders?
Women have endless knowledge and capabilities to do and be more. We are the backbone of most companies most and organizations, so we are aware of the internal and external workings of a company. Women care, known and grown which are all essential elements of business and will make a successful founder of any business.
Ok super. Here is the main question of our interview. Can you please share 5 things that can be done or should be done to help empower more women to become founders? If you can, please share an example or story for each.
Self Esteem: It is important for women to have self-esteem and believe in themselves. Women with more self-esteem will be able to handle tough decisions better, be happier and it helps you find your worth. Having the utmost self-esteem in yourself will empower you to start the business you always dreamt of.
Knowledge: Women have the power and the mindset to learn anything they put their minds to. With the proper foundational business knowledge, women can have the power to become successful entrepreneurs and small business owners.
Fellowship: Having fellowship outside of work is an essential aspect of empowering women. When women come together to support one another is a wonderful thing because we gain love, support, and strength from one another. Being able to have that comradery outside of work will empower women that they can pursue their dreams because they have a fellowship of women behind them.
Remember That You Have A Team: Always remember that you have a team of people behind you that want to see you succeed. You do not have to do everything by yourself and make sure everything is perfect. As women, we can get so bogged down in the details that we forget we have a team of people that want to help.
Use Your Voice: In today’s society, most founders and CEOs are men, so in order to become a successful founder you have to use your voice and speak out. Don’t be afraid to speak out for what you believe in and take control of the things that you want to see changed or grow to new heights.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good for the greatest number of people, what would that be? You never know what your idea can trigger.
If I could inspire a movement it would be all about financial literacy. It would focus on learning the foundational basics of money and how it can lead you in another direction that can allow you to be free and not a slave to your money. I would show them that anyone can be financially free regardless of their background and circumstances. If you can change your mindset you can change your life.
We are very blessed that some very prominent names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch with, and why? He or she might just see this if we tag them.
I would love to sit down and have a meal with Oprah. She has overcome so many obstacles and lives her life on her terms regardless of the backlash and comments society says about her. Oprah is her own boss and living life happy on the outside looking in. She also gets the privilege to talk to people every day and make meaningful connections which is pretty amazing.
How can our readers further follow your work online?
Readers can further follow my work on Instagram @nevergobrokeinc and by visiting the Never Go Broke website as www.nevergobroke.money.
Thank you for these fantastic insights. We greatly appreciate the time you spent on this.
