How this woman went from bankruptcy court to a lucrative online business earning $100,000 a quarter
Nicole Barham is the founder of Design Your Wealth, a platform that provides simple financial tracking tools, support and accountability for women entrepreneurs to stay competitive and relevant.
She started the business following her own financial difficulties that landed her in bankruptcy court despite her accounting background.
“I started the business after my own experience of mismanaging my finances landed me in bankruptcy court,” she told Time. “I have a background in accounting and have spent years dealing with my employer’s finances, so it was particularly heartbreaking to be in this role.”
During the rebuilding process, she was inspired to start Design Your Wealth as a side business, she said. Barham was convinced that there were others who had also made financial blunders and would need her help. So she decided to make her skills available to others by teaching them how to create wealth in their business.
“I’ve seen so many female entrepreneurs like me who weren’t in control of their finances, didn’t know if they were making a profit or loss, didn’t set income goals and track them, didn’t create budgets and were just scrambling at the tax deadline to get all their numbers together,” she said.
According to her, the lack of resources and tools available to those who need them most is one of the reasons why people mismanage their finances. Some of the tools available in the market can also be overwhelming when the guidelines are not so clear on how to achieve financial success.
“I’ve learned that the reason most of us don’t have our finances together is a lack of simplicity in the tools and platforms we have,” she shared with Time. “That and the lack of support and accountability.”
With Design Your Wealth, women entrepreneurs can sign up for one of its leading offerings, 5 MinuteBookkeeper™, and receive simple finance tracking tools and support to stay on top of their finances in just minutes a day.
“It’s our secret weapon to achieving incredible results for our clients,” Barham said. “It’s the difference between just having a gym membership and having a personal trainer. I wanted to make sure my clients got the results they wanted.
Barham started Design Your Wealth working with a few people while maintaining his full-time job. Today, his activity is his main activity. In 2021, she made $100,000 in sales in a single quarter, according to Time. Barham also said she had a month last year where she made more money in her business than she would have made in an entire year at her old full-time job. “It’s definitely a challenge, but the rewards far outweigh the challenges,” she noted.