Reach Your Personal Potential: Self-Made Multimillionaire, ‘Serial’ Entrepreneur, Wife and Mom of Four Shares Her Secrets
OMAHA, Neb. — In The Multi-Million Dollar Mompreneur: Your guide to business mastery, uncommon freedom and legacy wealth (GWN Publishing; May 1; ISBN: 978-1-959608-84-4, Print; 978-1-959608-85-1, Hardcover), Julie Roy shares some major takeaways from her journey to financial freedom and a fulfilling life. While offering insights and concrete action items to help anyone striving to propel their business, the author speaks directly to highly motivated women who are seeking to harmonize high net-worth entrepreneurship and family.
“Balance is impossible,” Roy stresses. “The idea of consistently having to choose between my children and my work has been an ongoing struggle for years. There is no balance. At best, sometimes, we have harmony.”
In concise chapters infused with a can-do attitude, The Multi-Million Dollar Mompreneur shows readers how to:
• Start with the end in mind and believe you’re worth it. “You need to define your goals and work backward from that ideal to create a strategy that leads to your overall desired outcome,” Roy explains. “First, you need direction and purpose. You need a NORTH STAR. Second, you must measure your success by establishing measurable goals or benchmarks. Third, you need to decide the level of risk you’re willing to take to get and stay there.”
• Embrace adversity to create abundance. In Roy’s case, the hardship was a $25,000 loan from a back-alley shark. Scary? You bet—but it was money she desperately needed to launch her first business, a Montessori preschool. And, at an interest rate of 19 percent per diem, it was money she had to work hard and fast to pay back by making sure her business prospered. She paid off her loan within a year.
• Prioritize ROL (Return on Life) over ROI. “Budgeting is too often something people just don't do, but once you have that budget in place, you can start to consider your return on investment.” Roy notes, “Your return should not just be on money, but your quality of life. Think about your ROL—Return on Life. You should plan to not only multiply your money but also increase the satisfaction you get from your life—tenfold!”
• Teach your kids about money. Roy has committed to getting her four kids onboard with making her business a success—which includes accepting those times when her work comes first. What’s more, she has created a great way to encourage kids to use money thoughtfully—while also getting a tax break. Her tip: if you own a business, you can hire your kids, have them do meaningful work, and pay them.
• Know when an asset is a liability. For Roy, the American dream worth pursuing is financial freedom. What about homeownership? Well, that can be a financial nightmare. “For many people,” she observes, “it makes more sense to rent unless you have a ton of passive cash flow to pay for all the many things needed to keep the house in tip-top shape and to pay the mortgage.” Rather than pour everything into buying a house, she suggests: “Take that extra trapped capital and invest it to work for you. Retire sooner!”
About the Author
Julie Roy, a Canadian-born daughter of Italian immigrants and self-described “multi-million dollar mama,” is driven by an unstoppable work ethic and passion for defying the ordinary. She lives in uncommon freedom. She takes pride in harmonizing her family with her work as an entrepreneur, investor, speaker, author, podcaster and coach. Through her speaking engagements, WealthMasters coaching program and real estate investment club, she helps entrepreneurs multiply their net worth, create passive income streams and secure generational wealth in significantly less time than it would take to do it on their own. The mother of four children ranging in age from 13 to early 20s, she makes her home in Omaha, Nebraska, with her husband and business partner, Beau.
