For Financial Literacy Month – We are sharing stories and tips for gaining financial knowledge, financial lessons learned early on in your entrepreneurship journey, personal finance tips and savings goal advice.
We have CEO and Founder Diana Byfield sharing her story and tips.
Born in Harbor View, Kingston Jamaica but her family migrated in the US when she was 2 yrs old. Diana and her family struggled for most part of what she remember of her childhood. Her mom worked overtime while her father was on drugs and living in infidelity. By at 11 yrs old Diana watched her parents separated and that was a problem, that’s where it all started. Diana rebelled against her mother and soon seen her self out of the house at the age of 16. She worked in retails stores and stood at friends houses or rent out rooms. Until she worked in a mall and was offered by an model agency. Her mind shifted from retail to wanting to be a model in the entertainment business. Diana entered into that field but instead of it helping it was breaking her. From dancing and being known for Dancehall queen it really opened to doors to pride, suicidal thoughts, anxiety and dealing with fears. After dealing with life and hardship she counted so many times of giving up . Diana wanted to know her WHY? But there is a thin line of worries and to addresses. Dancing is Diana yfield. That’s why She created a safe space where women can dance and be released The business page Purpose Powerhouse and the fitness entity, Sweating with Purpose was birthed out of her past pain, sexual abuse, and deep depression that turned into attempted suicide multiple times. As of January 2021, the business was established to serve women who encountered depression, anxiety, stress,or fear. The Life Coaching sessions and building an afro-beats and west indian/inspiration-infused dance fitness studio with meditation classes would help other women see themselves as a Purpose Powerhouse!
What are some of the lessons you have learned early on in your business about finances?
Have the investments ahead of time or a loan or grant for the business before you start.
What is the name of your business? What type of business is it?
Purpose Powerhouse L.L.C. My business is a coaching business with wellness and dance fitness.
What does financial stability mean to you?
Everything is aligned. You are living beyond of not breaking your pockets, Bills are paid, debt free, balancing life, mind, and spirit.
What advice would you share about how to raise funds or capital for your business?
Awareness is the first thing. And being confident in what you are selling. Sometimes it doesn’t always have to be you need money to make money. Sometimes in some cases Your money is going to come from an idea.
What are 2 financial tips you would like to share?
Invest in long term investments so you can watch the revenue grow. Know your spending habits so you can challenge yourself of what not to do.
What is your favorite finance or wealth building podcast? Why should readers listen to them?
Listen Money Matters … it will educate people on another level of how to operate money and how to create wealth with it.
What kind of impact on your business does not having access to funds and other resources?
I will say more for me I am in the beginning stage of being an entrepreneur so I need to know what doors of avenues will take me to the right people. The people that has the connections that will open up streams of multiple revenues.
Share your top 2 Finance or Wealth Building books and why?
The Fearless Money Mindset: Broke Doesn’t Scare Me from Arian Simone and Rich and Poor Dad Robert T. Kiyosaki…. Both has a concept of showing mindset has a lot to do with how you gain wealth. Also making you evaluate your circumstances and learning what you must take away or get rid of from your life. And what you can start implementing to better yourself and reaching to top of success to your own capacity and capabilities.
What savings goals should someone have personally or in their business?
The saving goals you want to have is investing in stocks besides having an 401K or IRA. I like to invest into gold or silver and Real Estate properties as well. We want to aim for wealth that will sustain revenue for generational wealth.
What financial obstacles have you overcome and how did you overcome them?
My obstacle for me was SPLURGING! lol I had to come out of that mindset of spending but I found out it was a stress or anxiety behavior. I wasn’t one those that buy to get the most latest trend it was as well wanting to feel good. It was like having a mentality of the clothes and the new shoes made me who I am. God had to help me shift that mindset of why I couldn’t see my money. I would just spend. I seen myself investing in stocks and my business it’s the best choice I’ve ever done.
How did you find the right financial advisor or accountant?
I joined a Financial Literacy program and it was the best decision in order for me to step into a new era of building wealth. I had to first understand how it works. Wanted to learn what my weakness was and where it came from. What were my potential strength that can help me succeed. I was excited for taking on that journey.
How important is having an accountant or bookkeeper for your business?
It’s very important because they are your second eye of your Finances. They will catch things before you will and is very important to have one.
What are your favorite apps to track your spending or business expenses?
Who do you go to for financial advice?
I go to Sabrina Abraham, she is well known as THE MONEY GOAT. I am glad and honored I met her as a special guest as a financial advisor within the Financial Literacy workshop/program I attended too.
Have you encountered an experience with financial situation that has changed your views on your finances? Tell me about them.
Yes of course. I was laid off from work then the Pandemic happened right a couple months after. I started my business. Then I knew I needed to make an opportunity for me to step out and do things differently. It pushed me to tap into my gift which lead me into my purpose. It was a purpose to get my household in order. Then Business will be financially in order. Now I can say things are look great and new streams of revenues are ahead.
What’s next for you in your business/brand? What can readers look forward to from you?
Well, I am looking for to expand in different avenues as in products. Will be doing plenty of pop ups ONE DAY – DANCE, SWEAT, RELEASE TOUR in various states, islands , and countries.
Is there anything else you would like to share with me?
I just want my services to help people overcome obstacles but it’s all in the mindest. I AM HERE FOR IMPACT! I will love to see more people igniting their passion and finding their true purpose. In order for the person to live a prosperous life they must be aligned with their God Given purpose.
Why do I want to make a great impact?
People are hungry to wanting more for their lives but don’t know where to start. It really starts with finding your purpose and then everything else will fall into place. You will have clarity of who you are. What you suppose to be aligned with or who you are suppose to be connected too. As well what directions you should be going into that will lead you in your path of success.