This transcript was generated from the episode audio and may contain minor errors.
Welcome to a brand new week. I'm so glad you're out there. Thank you for tuning in. Episode 1710, upside of social school, 1700 and 10. Today we're going to look at a listener question about becoming a financial advisor. Lately, I've been doing a bunch of research on personal finance
rules. This is in preparation for a new book that I'll talk about at some point. The rules of personal finance haven't been updated for decades. Is that because they are timeless truly, or is a change overdue? So more on that at some point. But today, we saw in another story long
ago how some people are intimidated by the stereotype they hold of a particular advisor, like a financial advisor. And some people just kind of have this image of what that person looks like, the kind of advice they give, how it might be applicable to some and not others, and so on, all of which creates an opportunity for other people to step in and serve different kinds of people. So today's listener, our caller, this Generation Z listener wants to become a financial advisor for her peers. How can she build her authority and platform? Actually, I have a couple ideas for her based on somebody that I have been really impressed with recently.
I actually saw her on TikTok. I'll tell you about her in a second. Anyway, all that's coming up, detailed question, and my answer after this quick message from our sponsor. Hey, Chris, this is Lisa. And though I'm not a certified financial planner, I am good at helping people with money. And I'm thinking it could be a good side hustle. Everything seems
focused on millennials these days, but Gen Z is coming up right behind. I want to address my coaching or advising specifically on this market. Their needs are different, and they definitely don't speak the same language as millennials or boomers. What's the best way to proceed? I appreciate any help you can give me, Chris.
Well, the first thought I had was TikTok is the way, and then you need a course to sell. So what I'll explain here, I'm going to use this example of the spreadsheet instructor known as Miss Excel. Miss Excel, like Microsoft Excel. That is her online name. I forget her actual name, but she has built this brand teaching people spreadsheet tips and tricks using TikTok and other social media. And then she sells a course. She actually has two different courses she sells.
And the first one costs $297. I forget what the other one costs, probably more. She also sells them as a bundle, which is really smart. She is earning multiple six figures a year doing this. So people are watching her TikToks. Some of them want to learn more. They go to her website,
which she is promoting, and they buy these courses. So she's doing so, so well. You could follow a similar model for coaching for the idea of being a financial advisor for Gen Z. But I think just imagine how much more work it would be to do coaching a service as opposed to creating a product. So you're going to hit a rate limiting factor in your ability to serve people. Whereas
someone like Miss Excel can sell a dozen $300 courses every day. So just think about how much that is. And even if you don't end up doing that, well, wouldn't it be cool to sell one $300 course every day or even a few a week or whatever it is? Naturally, your path may not be exactly the same, but if we think of the broad question of how do I take these concepts and how do I want to help younger people with personal finance advice, well, you're going to need a platform and you're going to need something to sell. So that's what I would suggest is look at people like Miss Excel and see what they're doing and ask yourself, how can I adapt this again in my own way? It's all about
being relevant, being relevant and being helpful. I think if you're focused on those two things, you can't go wrong. Be relevant, be helpful. And then of course, don't forget to sell something. Good luck. And listeners, if you have a question, come to sidehustleschool.com/questions.
We will feature them throughout the rest of the year, along with updates from listeners as they launch their projects. I'm so excited to see everything that you're doing out there. Let me know what's going on and how we can help. My name is Chris Guillebeau. You're listening to Sidussleschool.
from The Onward Project.
