Meet Adhis Boucha – Founder of Mind & Money
April 24, 2012
Do you have a money story? Most of us do, even on a subconscious level. The work Adhis is doing for women to unlock their fears around money is worth following. - Michelle
Name: Adhis Boucha
Location: Utah
Education: High School
Professional Background: Sales, Customer Service, and Network Marketing. The last couple of years, I reawakened my passion as a teacher and began offering personal finance classes in the community. I have also been trained as a financial counselor by Dave Ramsey and his company, Lampo Group.
What you wanted to be when you grew up: Everything! From lawyer to florist to psychologist to rockstar and songwriter.
What you are: Mentor, teacher, speaker, and cheerleader for womenkind.
Brief Summary of your Start Up: Mind & Money Mentoring was born when students of my community classes began referring people to me who needed one-on-one help with their financial situations. In a nutshell, I help women sleep better at night and breathe easier during the day. I provide private mentoring for women and families to help bring balance to their finances and their relationships. The New Money Mama line provides classes and online tools to help women begin shifting their attention to the income-producing gifts they had forgotten they already have. I invite every woman to begin their journey by going to www.MindMoneyMentor and signing up for the free “New Money Mama” video newsletter.
Where you are located: I have an office in Lehi and in Sandy.
Company Website: www.MindMoneyMentor.com
What inspired you? When I was about 20 years old, I dreamt I was in the very modest home of a small family that was struggling financially; worse, they were also poor in hope that life could ever be any different. As I shared with them basic laws of money and abundance, their eyes opened with wonder and I felt such gratitude and hope from them. That feeling is imprinted in my mind all these years later.
About 8 years ago, my husband and I became debt-free, and naturally, I wanted others to experience the peace and freedom we were experiencing. What I have found since is that it is not the debt itself that shackles and destroys hope, it is the negative EMOTION women have about the debt and how they let that feeling DEFINE their self-worth. Today, I am most inspired when I see a woman experience A-HA’s that helps her break free from the thoughts she has carried for decades about herself and about money.
How long have you been in business? Coming up on a year
How did you fund it? Cash, savings, and favors!
Do you have a Fairy Godmother? Several! It would be wise for every entrepreneur to have a mentor or three at any time.
Do you belong to any Business Organization or Networking Groups? Biz Divas, The Hub
Current Business Challenge? Transitioning classes and programs over to the “New Money Mama” brand and re-designing some of the classes to focus more on helping women create what they have been saying they need: more money and more meaning.
What are you doing about it? Embracing change! I survey women about what they want to know about money and find out what they believe about their ability to have everything they need. I am also spending more time watching and listening to comedians. When I laugh more, it is easier for me to convert that energy into delivering hope and productivity.
Favorite motivational quote: I have two.
1] Whenever you find yourself on the side of the majority, it is time to pause and reflect. (Mark Twain)
2] Never leave the scene of a decision without first taking a specific action towards its realization. (Tony Robbins)
Family? A tall husband and 2 toddler daughters.
How do you balance family and business? I ask for help. Every superhero should belong to a SuperHero League! I have SuperNanny and ToiletWoman help me out a lot on the home front. And of course, FlyMacDaddy is awesome at being flexible with our family schedule and taking great care of our daughters when I am traveling to trainings and conferences. I am also retraining myself to PLAY MORE! When I make time to play regularly, my brain reciprocates by working harder during business hours.
Favorite book? The book of Proverbs in the King James translation of the Holy Bible. It contains some of the most insightful and funniest advice regarding money and character!
What do you do to relax? Getting massages is awesome. Going outside where the light doesn’t come from a computer monitor is fantastic.
What do you want to change most about your world? Frankly, it is time for many of our sisters to wake up to what is going on in their minds, their families, and their relationships and exclaim, “This is not acceptable!” Too many women think they have to wait until their kids grow up or until Prince Charming fulfills them before they can choose a life that feels meaningful and exciting. With some creativity, we can each live that soul-fulfilling life NOW. Putting this off and shrinking back to somehow be more ‘honorable’ is not healthy, and it actually does damage to marriages and children’s long-term confidence.
What are you most proud of? I am proud of myself for becoming an affectionate and attentive mommy to my daughters, and I love that I am setting an empowering example for them and their posterity.
What advice would you like to offer other Start Up Princesses? Consistent successes keep you moving forward. How do you consistently succeed? Take at least one teeny, tiny baby step every day, and celebrate it!
Favorite Magic Wand? Email! I can email any one of my mentors and get fantastic feedback and insight.
If you could design a tiara, what precious stones would you use? My Tiara would be gold and adorned with opal, aquamarine, sapphire, coral, and emerald. I guess it would be more of a party tiara by that point!
A percentage of every single ticket or program women invest in through Mind & Money Mentoring or through New Money Mama goes to educate a woman in India out of poverty. Women helping women as they help themselves! I love it!
Announcing our Teleseminar with Monica Shah – We’ll be talking money!
February 17, 2012
Your Personal Trainer for Financing Fitness
February 10, 2010
Guest writer, Lynette Hilgenberg, Vice President and Advertising Manager of Bank of American Fork shares her expertise on getting a loan: Every year hundreds of thousands of people turn to a personal trainer to help them get in shape. Some of them are already in good shape, some not so much. It is the trainer’s job regardless of the person’s condition to provide motivation and support in order to help clients improve their exercise techniques. A personal trainer is familiar with the way the body works. In fact, most fitness workers need to be certified. When a person hires a trainer she knows the trainer will do everything she can to make sure her body is in tip top shape. Similar things could be said of loan officers.
A loan officer will help guide you through the process of applying for a loan and when you are ready he or she will stand before the loan committee and present your case. The loan officer who is familiar with the way lending works will be more than willing to help you get things in order. There are many factors that banks must consider in approving a loan. These range from recent changes in lending regulations and market conditions, to the character of the loan applicant and the condition of the application itself and the financials included. Let your loan officer be your personal financing trainer.
The first and most important thing your loan officer will look at is your character. It’s important that you help him get to know you. One way that you can present yourself in a positive manner is to be prepared.
So what do you need to show the officer? She’ll want to see your capacity to repay the loan. The lender will look at the cash flow from your business and the probability of successfully paying the loan back on time. You’ll want to have very good accounting records that go back at least a few years. Have your financials supervised by an accountant if possible. Can you show that your currents assets outweigh your current liabilities? A current ratio of assets to liabilities of 1.5 to 1 is good, but it can depend on the industry you work in. Can you show that your business has a history of profitability? Are your records reliable and consistent?
To give the loan officer a complete picture of your financial condition be sure to bring a balance sheet, an income statement (less than a year old), statement of cash flows, statement of net worth or retained earnings and footnotes.
The loan officer will want to know how much of your money you have invested in the business, an indication of how much you have at risk if the business fails. She wants to know what’s at stake for you. The lender also needs to know that you can provide additional forms of security if you’re unable to repay the loan. Be prepared to tell the officer what you plan to do with the money. Is it for equipment, inventory, or working capital? In addition the lender will be taking the economic temperature of your industry and the industries that could affect your business.
After looking over all of your information the lender will then do some research. She will confirm balances with banks and creditors, trace transactions, and count inventories. She will make sure your financial statements fairly represent your financial condition. If everything is in order and she thinks you are ready she will make your case to the loan committee.
When everything is said and done it, whether your loan is approved or not, do not take the result as a personal validation or rejection. It is important to remember that there are many factors that a bank’s loan committee must consider that go beyond the application. Economic and market conditions are important factors. And State and Federal regulators play a strong role in managing the parameters of a bank’s loan portfolio—how much the bank can lend in each area, such as commercial or real estate lending. All of these additional factors combined with the fact that business financing will continue to be an important element of your business strategy throughout the years support the need for developing a long term relationship with a community banker. Your personal financial fitness trainer can be a valuable partner for the long-term success and strength of your business.
Lynette Hilgenberg has had 29 years of experience in the banking industry and is the current Vice President and Advertising Manager at Bank of American Fork in Provo, Utah. When Lynette isn’t working she likes to spend time with her family, sew, read and go horseback riding.
Thank you Lynette!
