Money with Mission Insights

Have you encountered the "glass cliff" phenomenon, where leadership opportunities for women and minorities are precarious? I have! And I've concluded that it's empowering to have the financial freedom to leave a job or business that doesn't serve my best interest.

Here's to discovering our "peak potential zone"!

?? WORDCLIFF

I'm a precarious perch where leaders stand,

In times of crisis, it's where they land.

Though it seems like a prestigious lift,

Beneath the surface, there's a fragile rift.

What am I?

(Want to know the answer? Scroll down to find out!)

??THE WORLD ON THE “GLASS CLIFF”

• Have you ever felt the weight of being positioned on the "glass cliff" in your career journey? How did you navigate through it?
• What lessons have you learned from witnessing or experiencing the challenges faced by underrepresented leaders during times of crisis?
• Reflecting on your leadership style, how do you strive to create a supportive and inclusive environment that empowers individuals from diverse backgrounds, potentially preventing them from falling victim to the "glass cliff"?

MISSION MATTERS

Discover the challenges that underrepresented leaders encountered and applaud their resilience and creativity in transforming adversity into opportunity within the business world. How did Carl and Mindy Jensen transition from 'live-in flips' to private lending, and what lessons can we learn from their journey about adapting and evolving in personal finance within real estate investment? Don't miss out! Secure your spot for our exclusive FREE Masterclass.

PODCAST POWER

Tune in to the Wealthy Wellthy Podcast with Krisstina Wise for insights and strategies to empower your path to financial freedom. Dr. Darnyelle Jervey Harmon shares the transformative experiences and mindset shifts that propelled her from challenges to remarkable financial and personal success.?

EXCLUSIVE RESOURCES

I later discovered a different path, transitioning to real estate—a choice that brought immense fulfillment. Discover the shared success principles in medicine and real estate investing!

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MISSION MATTERS

These Women Faced the Glass Cliff--and Leveraged Their Experience to Become Successful Entrepreneurs

Women are often placed in precarious leadership roles. But for some, the experience can be a turning point.

by Kim Jao, Araceli Crescencio

April 25, 2024

In a world where leadership opportunities for women and minorities are often limited and precarious, the concept of the "glass cliff" presents a concerning reality. Coined by researchers in 2005, it refers to the tendency for individuals from underrepresented groups to be appointed to leadership roles during times of crisis. Despite the apparent prestige, these positions carry higher risks of failure due to the unstable circumstances. This discussion delves into the experiences of prominent women who have navigated such challenges, using their positions as springboards for innovative ventures. By exploring these stories, we uncover the obstacles underrepresented leaders face and celebrate their resilience and creativity in turning adversity into opportunity within the business world.

Highlights

• Origins and Definition of the Glass Cliff: This article explores the term "glass cliff," which was coined to describe the precarious leadership roles often offered to women and minorities, typically during organizational crises. This sets the stage for discussing the systemic challenges these leaders face.

• High-Profile Case Studies: It details the experiences of notable figures such as Sallie Krawcheck and Stephanie Pope, who faced significant challenges upon being thrust into leadership roles during tumultuous times at major corporations like Merrill Lynch and Boeing, respectively.

• Cyclical Challenges and the Risk Tax: The concept of a "risk tax" is introduced, which posits that these leaders not only inherit crises but are also more likely to be blamed if they cannot quickly turn situations around, perpetuating stereotypes about their capabilities.

• Entrepreneurial Pivot: Many women, having faced the glass cliff, have leveraged their experiences to start their businesses. Sallie Krawcheck, for instance, founded Ellevest, a financial firm focused on women, channeling her high-stakes corporate experience into an entrepreneurial venture.

• Strategic Advice for Aspiring Entrepreneurs: The article provides practical advice for others who might be considering entrepreneurship after experiencing the glass cliff. This includes identifying one's unique skills, building a support network, and developing a structured business plan.

• Importance of Workplace Culture and Diversity: Emphasizing the benefits of diverse leadership teams and supportive workplace cultures, this article advocates for environments where new hires are seen as culture adds, not just fits, enhancing overall business health and employee satisfaction.

??Read more of this on Inc.

A financially independent couple that built wealth doing 'live-in flips' is pivoting to private lending. It's more passive and earns them 'about 12%' — but you need 2 things to get started.

Kathleen Elkins Apr 27, 2024, 5:57 PM GMT+8

Welcome to an insightful exploration of how Carl and Mindy Jensen transformed their financial lives through innovative real estate strategies, particularly through 'live-in flips.' After building a considerable net worth of $5 million and enjoying the fruits of their labor, the Jensens are now pivoting to a more passive income strategy: private lending. This narrative not only highlights their financial journey but also offers a glimpse into the possibilities within the real estate investment realm, providing valuable lessons on adaptation and strategic evolution in personal finance.

Highlights

• Successful 'Live-In Flips' Strategy: Carl and Mindy achieved substantial financial growth by executing seven 'live-in flips,' where they renovated homes while residing in them. This strategy proved highly profitable, netting them around $1 million in profits and demonstrating a smart way to combine living needs with investment opportunities.

• Challenges of Living in a Renovation: The downside of 'live-in flips' included the discomfort and challenge of living in a constant construction zone, which Carl and Mindy found to be quite taxing both physically and mentally.

• Transition to Private Lending: As they moved into their early 50s, the Jensens sought a less labor-intensive and more passive investment method. They chose private lending, which involves lending money to other real estate investors and earning interest, now at a rate of about 12%.

• Benefits of Private Lending: This strategy is attractive due to its passivity and the ability to generate consistent returns. Carl and Mindy appreciate the ease of earning through private lending compared to the more physically demanding and time-consuming flips.

• Requirements for Private Lending: To engage in private lending, one needs adequate capital and a solid network. The Jensens utilize their retirement funds, specifically a self-directed solo 401(k), to make these loans, emphasizing the need for self-employment income to leverage such investment opportunities.

• Selective Lending Practices: Trust and reliability are paramount in their lending practices. They lend primarily to acquaintances within their real estate network, ensuring a higher likelihood of repayment and reducing the risk associated with their investments.

??Read more of this on Business Insider

Here's your opportunity to reserve your seat for our upcoming masterclass!

Join us on May 18th, 2024, at 10 am CT, for a FREE Masterclass tailored specifically for female physicians aspiring towards financial freedom.

Access invaluable insights on unconventional investments, debt management, tax optimization, generating passive income, and retirement planning.

??RESERVE YOUR SEAT NOW

PODCAST POWER

What’s new on the Money with Mission Podcast:

Wealthy Wellthy Podcast: From Medicine To Millionaire Investor?

with Dr. Felecia Froe

April 17, 2024

Excited to unveil my journey from medical professional to millionaire real estate investor. It's not just a career shift but a total transformation in my approach to work, life, and financial independence.? In this featured episode of the Wealthy Wellthy Podcast with Krisstina Wise, I share key insights and strategies to empower you on your path to financial freedom.

Highlights

• My Shift from Medicine to Real Estate: I’ll dive into why I chose to leave a successful medical career to pursue real estate investing. This was driven by my desire for more time with my family and a sustainable way to build wealth. The journey was challenging but profoundly rewarding.
• The Role of Financial Education: Initially, my financial knowledge was minimal, which is not uncommon in the medical field. I'll discuss how educating myself about finances became the cornerstone of my investment success and how it can benefit others.
• Effective Real Estate Investment Techniques: I’ll outline the strategies that have been instrumental in my real estate ventures, focusing on selecting the right properties and understanding market trends to maximize returns.
• Introduction of the LIVE Framework: This framework stands for Learn, Invest, Value, and Enjoy. I developed it to help others replicate my success by focusing on continual learning, prudent investing, valuing what truly matters, and enjoying the fruits of your labor.
• Overcoming Challenges: Transitioning careers came with its hurdles. I'll share some personal setbacks I encountered and the resilience needed to overcome them, providing a realistic perspective on what it takes to succeed.
• Guidance for New Investors: For those interested in following a similar path, I'll offer practical advice on getting started in real estate, the importance of building a network, finding mentors, and why starting small can lead to big wins.

?? Listen to the full episode here

It's not about having money, it's about having options. - Dr. Felecia Froe

Millionaire Mindset: Moving from Adversity to Millions?

with Dr. Darnyelle Jervey Harmon

April 24, 2024

From overcoming significant adversity to achieving multi-millionaire status, Dr. Harmon’s journey is inspirational. In this episode, she shares the transformative experiences and mindset shifts that propelled her from challenges to remarkable financial and personal success.?

Highlights

• Overcoming Personal Challenges: Dr. Harmon discusses her early life struggles, including financial instability and personal losses, and how these shaped her determination to succeed.
• Mindset Shift for Success: She emphasizes the crucial role of changing one’s mindset about money and success, advocating for a belief system rooted in abundance rather than scarcity.
• Strategic Business Moves: Dr. Harmon explains her approach to building and scaling her business, including the importance of branding, niche marketing, and creating value for clients.
• Importance of Mentorship and Coaching: She highlights how mentorship and coaching were pivotal in her journey, helping her navigate the business world and accelerate her growth.
• Building a Network of Influence: Learn about Dr. Harmon's strategies to build a strong professional network that supports and amplifies her business endeavors.
• Giving Back and Community Involvement: A significant part of her success story includes her commitment to giving back. Dr. Harmon shares how involvement in community and philanthropic efforts has enriched her life and business.
• Advice for Aspiring Entrepreneurs and Investors: Dr. Harmon offers actionable advice for listeners who aspire to walk in her footsteps, focusing on practical steps to start and sustain a successful business or investment career.

?? Listen to the full episode here

It is hard to be the change you want to see when yhou don't have any change. - Dr. Darnyelle Jervey Harmon

Discover podcasts for a refreshing escape and valuable insights for better mental well-being.

Explore life-altering strategies that can profoundly shape your journey.

Embrace a moment of self-nurturing and tranquility. Seize the chance to replenish and treat yourself to the revitalizing pause you've earned.

EXCLUSIVE RESOURCES

Journey to Real Estate Wealth

April 21, 2024

In the modern world, attaining financial freedom may seem overwhelming, but it's achievable, as my experience shows. Beginning in urology, I later discovered a different path, transitioning to real estate—a choice that brought immense fulfillment. Through perseverance and challenging societal norms, I succeeded in my new career.

??Read more on this

The Common Ground between?Medicine and Real Estate Investing

Discover the shared success principles in medicine and real estate investing!

From teamwork to goal setting, join us as we explore how these key elements contribute to thriving in both fields. Ready to uncover the common ground? Follow along as we delve into these interconnected domains.

??Read more on this

Answer to the ?? WORDCLIFF: "glass cliff"

Email:? [email protected]

Website:? www.moneywithmission.com

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