Rahkim Sabree is a financial educator and coach with a focus on empowerment. He’s also a TED speaker and best-selling author having been seen in Entrepreneur, The Grio, Thrive Global, Yahoo Finance, Black Enterprise, IHeart Media, Business Insider, and others. Visit his website at Rahkimsabree.com

Can you tell our readers about your background?

Sure, I grew up in Mount Vernon, NY in a young but close-knit family. My primary influences include my Grandfather and my parents who have instilled in me a limitless mindset and a culture for sharing what I know. Having been financially disadvantaged I was exposed to elements of poverty that I use in my story to draw parallels between financial education and financial empowerment.  

What inspired you to start your business?

Entrepreneurship had been stressed in my family growing up so I always knew I wanted to start a business, I just didn’t know what I wanted to do. When I started to educate myself on the topic of personal finance I quickly learned there was a market to share my knowledge with others. Of course, I didn’t look at it as a business opportunity at first, however as I built skills around simplifying complex concepts, presentation skills, marketing, coaching, leadership, personal development, and public speaking, I realized that I could monetize this specialized knowledge. I knew the importance of “doing for self” even if that meant doing it side by side with having a full-time career.  

Where is your business based?

The beauty of coaching and speaking is that it can really take you anywhere. Couple that with communication technology like Zoom or Facetime and that allows you to meet clients wherever they are. I’d say my business is not limited to location, however, I currently reside in the state of Connecticut.

How did you start your business?

What were the first steps you took? I’d like to answer this question in two ways as I view my business in multiple ways. Starting my business (and others) in an official sense requires you to file for recognition via an entity with the state you live in, applying for an EIN, and opening a bank account. However, I can perform similar functions under multiple entities as a speaker, an author, a workshop facilitator/consultant, or a coach. Through that lens, I think the start of my business occurred when I decided to actively invest in education around the topics and themes I educate on. For instance, I’ve paid for ongoing training, seminars, workshops, marketing, coaching, books, etc to put me in a position to tie a price to my expertise and skill set. I believe the moment I made a decision to invest in me, whether I knew it or not, I took steps towards starting my business(es).

What has been the most effective way of raising awareness for your business?

Social proof. In some capacity or another, I’ve been talking about the same concepts, disciplines, etc for years with little to no budging until names like Entrepreneur, TED, or Business Insider became part of my resume. These things didn’t happen by accident, however. I started from the bottom constantly sharing content and thought leadership through social media, volunteer speaking gigs, and blogging to a nonexistent audience. If no one knows who you are or what you do, then it doesn’t matter how good you are you’ll never get clients. By capitalizing on the relationships I’ve built and owned my personal brand I’ve been able to capture the attention of big names that in turn create so much awareness around who I am and what I'm about for the public.

What have been your biggest challenges and how did you overcome them?

I think one of my biggest challenges is discovering what I don’t know. I often say you don’t know what you don’t know and it’s true in any business! Overcoming that looks like rolling up your sleeves, getting a mentor (or a few), maybe hiring a business coach, or taking a few courses that let you know not only what is possible but how to get there. I’ve also struggled somewhat with imposter syndrome. I think it’s easy to forget why you do what you do or how you got there when you are constantly comparing your reach and success to someone else’s. My advice would be to focus on what’s in front of YOU. It’s unrealistic to expect someone not to notice someone else’s success, however, you can use that awareness as a compass to what is possible for you and your business without trying to compare their success (or failure) to your own.

How do you stay focused?

I have a wonderful support system that keeps me grounded and encouraged in moments where I truly need it. That said, I'm also very strong-willed and internally motivated. Usually, if I decide that I want something or that I’m going to do something, I get it done. Some exercises to help with this include visualization exercises, affirmations, vision boards, writing down your goals, and having accountability partners.

How do you differentiate your business from the competition?

By not competing. I know it sounds counterintuitive however I truly believe in abundance. There are other financial educators, coaches, consultants out there whose knowledge and expertise will overlap my own but one thing is for certain -- They will not have my story. My story and background make me different in my ability to connect, empathize, explain, articulate, and deliver than even someone who grew up with a similar story and background. I know I’m not everyone’s cup of tea and I’ve learned that not everyone is my ideal client, and that’s ok.

What has been your most effective marketing strategy to grow your business?

Transparency and vulnerability. Many “influencers” or coaches focus on the establishment of an air of authority that is void of the possibility for ignorance, or vulnerability presenting what I’ll refer to as “perfect life syndrome”. When I’m tired I say I’m tired. When I don’t know, I say I don’t know. If I messed up, I'll say I messed up. People tend to connect better with other people and being transparent or vulnerable may encourage others to be transparent and vulnerable as well. I view these things as my strength and not a weakness because true strength is in overcoming those things and if you’ve created a community they will likely encourage you along the way.  

What's your best piece of advice for aspiring and new entrepreneurs?

Invest in yourself, learn, apply, repeat. Aspiring entrepreneurs either get caught up trying to hoard knowledge and never pull the trigger or they dive in headfirst without a foundation or context that can be costly and time-consuming. Spend some time learning something and apply that learning, then go back and learn something else and apply that learning. No one has it all figured out in the beginning and it’s perfectly ok for you to evolve as you learn and grow.

What's your favorite app, blog, and book? Why?

My favorite book is “How to Win Friends and Influence People” by Dale Carnegie. I read this book over and over as a reminder on how to navigate the very tricky business of people relations. Differences in culture, generational views, values, or even the way we choose to communicate can land you in a situation where you’re trying to be helpful but you’re being offensive, where you’re trying to network but you’re burning bridges. I believe this book gives a great foundation for understanding how to interact with others particularly if you want them to do something with or for you.

What's your favorite business tool or resource? Why?

The cell phone! Many people today take for granted the power in that supercomputer they walk around within their pockets or hands all day. Literally, everything is at your fingertips from contacts to prospects, from knowledge and resources to eCommerce, and if all else fails you can do what the device was made for and dial a number to make a call! Smartphones have changed the world and the way we do business. I can sit in a room with nothing else but my phone and have video conferences, make phone calls, order supplies, jot down notes, perform marketing tasks, order lunch, do research, read a book, listen to music, and watch a movie. Nothing tops that!

Who is your business role model? Why?

I have many and none at the same time! If someone does something in business that I like I can separate that from the individual as a person and apply it to my own business model. Through that lens, my business role model is more a collection of ideas that it is a physical man. However, if I absolutely had to give you a name I’d say at this moment I’d really like to do what Tony Robbins does. To constantly be in demand for my insights by large businesses or business owners and get paid to coach around the world is a goal of mine.  

How do you balance work and life?

I often refer to myself as a hybrid entrepreneur which speaks to the fact that at present I work full time for a company and also work on my own business ventures. It’s something I’ve been doing quite a while now so I believe there is the ease in routine. However, my circumstances allow me to be flexible in this way as I’m single and without children. I imagine this would be quite a bit more difficult when I decide to settle down however I don’t think it impossible. I often suggest that the establishment of boundaries is key to juggling these things. Being self-aware and knowing when to step away, when to stay connected, and when to truly do something for you is key to staying engaged and high performing. Sometimes I have to shut it all down and take a walk and others I have the mental stamina to hit one thing after another.  

What’s your favorite way to decompress?

I enjoy sitting in a dimly lit room on cushions and just letting my mind run through its various scenarios while focusing on breathing. I’m a big candle and fragrance guy so those things set the mood and help me to melt away the pressures of the day.

What do you have planned for the next six months?

Definitely a refocus on physical health. The pandemic environment has taught me many things about not only the importance of family and friends, or mental and emotional health, but also physical health. I have some small personal projects I’m working on at home and some larger projects like the completion and release of a new book, securing some speaking and consulting gigs, and accepting additional clients. I think everyone is over 2020 so I’m looking forward to what 2021 brings.

 How can our readers connect with you?

I am very responsive on social media particularly Twitter and Instagram @RahkimSabree. Readers can also visit my website at RahkimSabree.com and sign up for my weekly newsletter where I send a variety of personal reflections, advice, and invitations to connect through email.