Penelope Jane Smith is the premier financial freedom mentor for women entrepreneurs and the go-to expert for some of the biggest names in the conscious business industry. She is an acclaimed international speaker and certified trainer with over 20 years of teaching experience and the author of The Little Book of Prosperity. Through her signature programs, like Financial Freedom 101, she has helped thousands of entrepreneurs from all over the world to create more ease, peace, and freedom around money.
Penelope was very entrepreneurial as a kid, but that spirit got squashed by school and after college she went to teach English in Japan. Then she read Rich Dad, Poor Dad and that spirit came back. During her two hour commute into Tokyo, she was crafting her business plan for her return to the United States and started reading everything in business, real estate, finance, MLM, and accounting. She started with real estate and then did a series of personal development trainings that made it clear her purpose was to support people to create financial freedom and live in abundance. She invested $9,000 in credit for a business program, but it paid for itself with $220,000 in earnings in her first year. That was 15 years ago and the business continues.
Over 4 years, Penelope acquired 35 properties around the U.S. as a real estate investor, totaling over 6 million, so the biggest challenge came in 2008 when the real estate market crashed and she lost the real estate empire including a waterfront property that foreclosed. Ultimately she declared bankruptcy despite the speaking and training business doing okay. But what was that business at that point since it was built around real estate?
A big shift happened when Penelope decided to attend a high level mastermind on Richard Branson’s Necker Island with a $50,000 investment. She didn’t have credit and barely any income, but she made it work with a deep conviction that she was supposed to be there. While there she got a download that everyone has their own personal economy and she needed to stop feeling sorry for herself for losing everything and get to work supporting other people to teach them how to make money despite their challenges. She shifted to teaching Make Money Now workshops. Her business the next year was triple what it was before the 2008 crash. Now, when she feels challenged, she recognizes it as a signal to shift focus to help other people. The experience made her a better investor and teacher.
Penelope’s passion is supporting people to become financially free, especially women entrepreneurs since most financial planning models are designed for men.
Penelope launched a YouTube channel which has been a 5 year dream. It’s her dream to reach over a million subscribers in the next 5 years on the channel and also to launch her next book. She’s also working on launching a nonprofit, Global Prosperity Endowment Funds, so she can invest back into the prosperity of the planet and people.
The best advice she received is that “coal under pressure becomes a diamond.” Something that has also helped Penelope in business is pre selling her programs. Rather than investing time and money to create courses to see if people buy, she sells them and then creates them. Another concept that has helped her in business is to model success. In other words, look at what are the systems and the mindset of people who already have success in a particular area where you want to achieve, and then implement some of that in your own life. So rather than reinventing the wheel, she implements what her mentors teach her.
Tools, Podcasts & Books:
- Using note templates in Keap (previously called Infusionsoft), so any team member can one-click setup an automation.
- Life support team including:
- Inexpensive delegation of cleaning and shopping to assistants
- Bench Bookkeeping
- For moms, invest in childcare so you can actually do your business
- Marketing Director and Facebook Ads
- Massage Therapist (once per week)
- VA and Social Media Manager
- YouTube Mentor – Graham Steffen – channel and podcast
- Ali Brown – Glambition Podcast
Looking back Penelope would tell her younger self to focus on profit, not revenue and strive to keep your overhead under 30-40%. (If you’re under $250K, overhead should be more towards the 30%. After that, it’s fine to build up and invest more aggressively inside and outside of the business.)
Find out more about Penelope Jane Smith by visiting www.realprosperityinc.com