Scholarship Winner Discusses Strategy for Financial Planning Business

	At left, Tony Thompson, MBA '88, president and CEO of Kwame Building Group, presents a check for $10,000 to School of Business and Technology Dean Benjamin Ola. Akande, at far right. Joining in the presentation are, from inside left, Former Missouri Governor and Webster faculty member Bob Holden, scholarship recipient Robin Young and scholarship coordinator Shannon Frank. (Photo by Karen Burch)

NoteBene sat down with Robin Young, a Webster business alum and the 2006 Tony Thompson $10,000 minority scholarship award recipient, to talk about her new financial planning business, R.A. Young & Associates. With her offices in New York City, she is targeting young adult professionals who have the potential and desire to build their wealth.

NB: What has been the most exciting part of starting your own business?  

RY: That I am living my dream...the sky is the limit.   Also, I have a dream of revolutionizing the financial services industry and my business is on track to really help people achieve financial independence, and thus, financial security.    

NB: What led to your move to start your own business?

RY: I am an out-of-the-box thinker and I felt stifled in my previous financial services firms.   Also, my focus on helping the people who seek to turn income into wealth is different than my competitors.   Most of my peers/competitors focus on those individuals who have wealth. I felt that I could serve those individuals who needed the guidance of an expert but had not yet achieved financial independence. NB: Who was your most important mentor, and why? RY: My grandmother, because she taught me about the importance of financial responsibility. She taught me that I could enjoy life, be fiscally responsible and save for the future and those are the principles that I use with my clients.   

NB: How has your Webster education helped you in your plans to succeed professionally?  

RY: Webster University was invaluable to the success of my business. I am truly grateful to Webster University for helping me build my business skill sets at my convenience. My main focus was to build a profitable and successful business and Webster has made the MBA so user-friendly that I never had to choose between my goals and Webster. Webster was my partner; Webster taught me how to run a successful business. I had the vision, passion and financial education and experience and Webster had the business model...a great combination.

NB: What is the next endeavor you are planning for your company?

RY: Currently I am a profitable and successful financial planner and am transforming my clients' financial lives and futures. I just finished writing a workbook for those individuals who could not afford my fees. I also have been doing several speaking engagements and financial seminars. Those seminars have been especially rewarding because participants walk away inspired to take a step on "The Journey To Wealth."

NB: When you look back at your formative and college years, what major event changed your perspective and/or prepared you for your leadership role today?

RY: Good question! I learned to trust myself, my unique talents and skills and to find a way to offer those attributes to the world. That is what I do every day with R.A. Young & Associates (my firm).

NB: What challenges (competitive or otherwise) are most pressing for you at this time?

RY: Juggling all the responsibility. First, I have my clients' financial futures in my hands. It is so important to me to serve them exceptionally. Also as the owner, I am ultimately responsible for meeting my clients' expectations, building new client relationships, marketing concepts, business accounting, managing employees and operations. Whew! ...just writing it reminds me that it is a lot. Time-blocking has helped me tremendously.

NB: What strategy advice would you give others who are thinking about starting their own business?  

RY: Go away for a weekend and ask yourself the following questions at the beginning of the weekend:

1. Do I have a passion? If yes, what? 2. How do I handle rejection? 3. Do I have a year's worth of expenses saved? 4. Do I have support for an entrepreneurial venture? 5. How do I handle uneven cash flows? (Do I need a consistent salary?)

6. Will I feel fulfilled if I don't pursue my passion?

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