Business | thesofiamagazine

Take Control of Your Finances

by admin | Jan 28, 2022 | Asheville, Business, Finances, money, Women

Assessing the big picture of your personal finances can be very beneficial when making personal and financial decisions and choices.

At least once a year, consider taking stock of your assets, liabilities, and financial goals. Understanding how much money you have will help you learn how best to earn and save the amount of money you want. Consider the following tips for understanding your financial net worth.

Track What You Have

Most personal finance articles begin by asking you to track your expenses or write down your spending. However, it is more important to start with the baseline knowledge of the money and resources
you currently have.

Companies create annual reports for a reason. Whether you use Excel, Mint, or even old-fashioned pencil and paper, first list your assets. How much do you make in salary or wages? Do you own your home or rent? Do you have a vehicle? Have you started saving for retirement? Do you have any kind of cash emergency fund?

You don’t even have to list exact numbers. The idea of this exercise is simply to give you a bigger-picture idea of how much you earn and what assets you have. Knowing what you own, what your earning potential is, and how you save and invest money is what you want to learn by doing this step.

Consider Your Expenses

Don’t wear yourself out by writing down every penny you spend for a week or a month. That can become a huge chore very quickly. When you’re done doing that, mostly all you have is a list of your least consequential expenses.

If you feel you must record your expenses, focus on the big ones. What do you spend on housing, student loans, car loans, credit card debt, home or life insurance, health insurance premiums, utility bills, ongoing medical and prescription costs, and retirement contributions?

Write the list by either entering expenses as monthly costs (for premiums you pay annually; remember to divide them by 12) or as annual ones. This will give you an idea of the costs in your life that are non-negotiable. Adding up those expenses gives you a better idea of the real money that you spend each year, and how it compares to the number of your earnings and assets.

Once you understand the big numbers in your life, you should examine the more incidental numbers. Even small expenses can eventually add up to big ones. Add up what you spend on clothing, gifts, streaming services, subscriptions, food, and recreation. Once you’ve listed those expenses, go back and consider if you are engaging in smart spending. Do you fully use every subscription you have? Are there ways you can save on your transportation budget?

Make Financial Goals

Truly understanding your assets and liabilities can help you better understand your finances. Now you need to think even bigger.

Finance is not only about numbers; it is also about emotion. How do you feel about your money picture? What would you change about your income and your spending if you could? Your answers to such questions should guide the goals that you make for your money and investments.

Would you like to earn more money? Make it a goal, and consider ways you can achieve it. Write down your plans for finding a better-paying job, developing a side gig, or asking for a raise. Do you think you could
improve the way you save money? Make it a goal to investigate ways to increase your retirement contributions. Are you confused about the best ways to invest money? Plan to learn more about the stock market, bonds, or other investment methods.

You don’t have to make a specific number of goals. All you have to do is take the goals you make seriously. Making and meeting even one financial goal per year can make a huge difference over your lifetime.

Educate Yourself on Money Matters

Everyone expects to be naturally good at money but very few people are.

Being good with money is often a matter of developing good financial habits and skills. Skills require education. After investigating your finances, take some time to learn about new money terms and topics. Read some personal investing magazines or websites. Ask people you know financial questions (they don’t have to be personal). Watch a YouTube video or take an online class about learning to invest in the stock market.

The more you know about money, and specifically, your money, the better prepared you’ll be to earn, save, and use it.

Ayelet Marom – Shopping Locally Never Looked So Good

by admin | Nov 29, 2021 | Asheville, Business, Consignment, Fashion

By Jacqui Castle

Supply chain issues. Shipping delays. Production bottlenecks. With the myriad of issues surrounding the eCommerce industry right now, shopping locally never looked so good. The holidays are coming up quickly, and supporting WNC’s consignment businesses offers a way to stretch your money further and scout out
one-of-a-kind gifts for everyone on your list, including yourself!

“I think the store offers a lot of inspiration, delight, and fun for anyone who loves to treasure hunt,” says Ayelet Marom, owner of Clothes Encounters on Merrimon Avenue.

Clothes Encounters has been a staple in the community for decades. Since Marom took over as owner in January 2020, she has been working to put her own spin on the shop. She strives to cultivate a place where locals feel at home, and visitors feel invited to come in, browse, and get a taste of Asheville. Customers have remarked to Marom that shopping at her store feels like going to their best friend’s closet.

“It’s a place where people come on their lunch break just to walk around and think,” Marom says, expressing how honored she felt when locals choose to spend their downtime with her. Marom remembers what it was like to have young kids and have those places she would go just to get some time to herself. She loves that for some people, Clothes Encounters provides that.

The connections that Marom has formed with her customers, and the interactions that come with running Clothes Encounters, have been her favorite parts of the job. “I love seeing the joy on people’s faces when they find something truly special.”

Marom has noticed that when her customers can get out and safely shop, they embrace the opportunity to do things in person again. “People are looking more to actually feel and try on clothes, as opposed to ordering online.”

Customers can always expect to find fresh treasures at Clothes Encounters, with the inventory changing regularly. “I really take pride in fashion, and I have past experience in the fashion world as a makeup artist,” Marom said. “I grew up in Toronto, and I worked with a lot of designers.”

Marom frequently travels throughout the state to find unique items to bring to the store. Through her past experience in fashion, she will sometimes have people send her clothing and accessories that they think would be a good fit. “I have consigners that have been around for years and years that actually send me packages from New York and Los Angeles,” says Marom.

When asked if she noticed any fashion trends in the consignment world, Marom mentioned that sequins and sparkles are big again! She also sees a lot of faux furs, vintage wool, unique jackets, and maxi dresses this time of year.

Top 10 Recommendations for Women Business Owners

by admin | Oct 28, 2021 | Asheville, Business, Leadership, Management, Women

By Susan Clark Muntean

As a consultant, mentor, and advisor to entrepreneurs over the past two decades, I have identified patterns, principles, and paths for entrepreneurs to follow. My passion is to support women as entrepreneurs and my expertise is in how to connect women with the resources they need to succeed. These are my top ten pieces of advice and words of wisdom to support you on your journey. You’ve got this!

Seek Mentorship
Seek out inspirational role models and establish a mentoring relationship with them. Establish yourself with mentors who will be honest with you and who will respect you. Seek well-connected members of your community to advocate on your behalf and who will offer to connect you with important stakeholders. Don’t forget to seek mentors of the opposite sex as well.

Find Your Tribe
Find a supportive community that will nurture your soul, feed your ambitions, sell your expertise and creative genius, and help you to market yourself and your business. Leverage both formal and informal networks to spread the word about you and your business. Connect and support others and pay it forward.

Secure Sensible Funding
Seek low interest loans, SBA loan guarantees, forgivable and/or flexible low interest loans, and government or non-profit sources of funds for launching and growing your business. In addition, consider equity investment, especially among family and friends as well as crowdfunding campaigns. Avoid high interest credit card debt at all costs.

Listen to Your Customers
Design your product or service around the needs and wants of your target market. Solicit frequent and honest feedback. Get a minimally viable product into their hands early on and use the beta version of what you offer to improve what you produce. The customer is queen and should be an integral part of the development of your business model, product lines, service delivery and customer relationship management strategies.

Use Weak Ties
Research shows that women tend to rely on close connections, family members and close friends when networking to generate new business and when seeking financing, partnerships, and support while men tend to use distant connections and engage in transactional networking using so-called “weak ties”. In the business world weak ties—those expansive loose connections of friends of friends who know people—are critical to scaling your business and selling more products and services. Get on LinkedIn and connect with second and third level weak ties.

Find Support Organizations
Entrepreneurship is a significant driver of economic development and local, regional, state, and federal governments allocate taxpayer dollars to supporting inclusive entrepreneurship as a means to economic growth. There are so many free and low-cost resources to take advantage of as an emerging entrepreneur or as an established business owner. Seek out the assistance of small business centers, women’s business centers and networking groups, business incubators, accelerator programs, community colleges that offer instructional programming for entrepreneurs, and shared co-working spaces that support entrepreneurs.

Manage Bias
Gender bias is a well-documented all-to-common experience that women face, especially when seeking equity financing and the support of resources critical for success. Don’t gaslight yourself if you experience very subtle forms of discrimination or exclusion or if the services you are receiving feel in any way disrespectful. Manage systemic bias by preparing responses to it in advance. You are not alone on your journey, and you are inherently powerful, capable, intelligent, and worthy of support and the respect you deserve. Don’t forget it!

Differentiate Yourself
Small business owners need to compete on specialization, uniqueness, customization, and delightful experiences that customers rave about relative to existing offerings. How are you better than the competition? Why are you special? Communicate how you are above and beyond the rest with crystal clarity. Own and exude your unique, amazing brand and be consistently clear in communicating that to your target market.

Expand Your Entrepreneurial Mindset
Work on your capacities to identify opportunities, take calculated risks, empathize with your customers, and execute on your ideas. Successful entrepreneurs have a future focus, are optimistic, persistent, and self-confident. Activate your passion and apply your ambition towards continuous self-improvement. Dedicate time to developing your entrepreneurial mindset daily.

Orient Yourself Towards the Future
Too many small business owners are trapped in the cycle of putting out fires and reacting to the immediate, daily, urgent needs of the business. Take time and space away from the daily grind to put your feelers out to the external environment. What is the competition doing? What are shifts in the regulatory environment? How are customer tastes changing? What are groundbreaking emergent technologies and how will they impact your business model? Today’s marketplace requires constant innovation and that requires understanding changes impacting your business model as well as creating future opportunities. By orienting yourself towards the future, you position yourself to take advantage of emerging opportunities that can secure your success over the long haul.

Susan Clark Muntean is an Associate Professor of Management at the University of North Carolina, Asheville. In addition to being an author of Entrepreneurial Ecosystems: A Gender Perspective published by Cambridge University Press, she serves as an advisor, mentor, board member and advocate supporting women entrepreneurs in Western North Carolina.

When Only The Best will do

by Natasha Kubis | May 29, 2021 | Asheville, Business, Management, Women Empowerment, Women in Business

Biltmore Executive Support Team (B.E.S.T) is a dream come true for entrepreneurs, high-level executives, affluent individuals, as well as big and small businesses alike. More than just your average professional organizer, B.E.S.T is your proud partner in business management, bookkeeping, professional organization, and customized business support services. They help your business thrive in the most efficient way possible to “get you where you need to grow!”

Their team of professional organizers is specialized in office systems and design and they collaborate with their clients to create a highly functional and peaceful work environment. They are Asheville’s only professional organizers who are certified by the American Society of Professional Organizers AND specialize in accounting. B.E.S.T is certified in QuickBooks and payroll, and they offer professional bookkeeping through their sister
company Accounting Office Management, Inc.

Not only do they help you organize and declutter your physical environment, but they also help create functional paper management, organize emails and digital files, and maintain bookkeeping systems. They do every tedious and overwhelming task that you can think of such as organizing medical records, financial statements, and setting up bill payment schedules. Even CPAs love B.E.S.T because they streamline end-of-the-year tax preparation, saving time for accountants, and reducing hefty fees for clients. They also help executives who are relocating or downsizing by acting as compassionate coaches in the purging and decluttering process.

Linne Warner has always had a clear passion for business and a thirst for creativity, which makes her a hugely successful boss-babe and the multi-talented founder of B.E.S.T. Her story began on a ranch in Chino, CA where she was riding horses before she even learned to walk. This perhaps, is what helped spark her love of adventure in life and business, and her entrepreneurial spirit.

Linne began working at the Coca-Cola Company in her early twenties, where she first became acquainted with the corporate world. Armed with a more refined sense of business, she left the company at age 22 (during the later stages of her first pregnancy) and started her first small business called, Linne’s of Palm Springs, in Santa Barbara, CA, where she produced and sold her own line of hand-painted clothing.

Linne diversified her education by completing her studies in multimedia arts and technology, which allowed her to have a focus on graphic design and marketing. Linne juggled a great deal while accomplishing her educational goals, raising two small children, having her own businesses, including maintaining the accounting and administrative needs of her family’s electrical contracting business, and eventually working full time as a marketing director for a national wholesale floral producer. Her 10-year experience as a director helped her analytical skills and creativity flourish. It also tapped into her adventurous spirit and allowed her to travel to Hong Kong and China several times a year.

The next door on her career path opened while traveling home from one of these business trips. A man sitting next to her on the flight observed her as she worked and was impressed by her keen focus and drive. He recruited her to work at Select Staffing, where she excelled as the Santa Barbara branch manager. She became educated on staff and client management, accounting, and was a devoted student of Steven Covey (author of 7 Habits of Highly Effective People).

The next stop along her career path was working as the Vice President of Marketing for the Third Age Foundation. This non-profit organization was developed to help elders in the third stage of life to have longer, happier, and more fulfilled lives. Linne loves helping disadvantaged people find their direction by supporting their personal development. This is why B.E.S.T loves working with elderly executives that need help getting organized, especially if there is any cognitive decline or chronic illness.

Linne is also fierce when it comes to empowering her team members.
Because of her staffing experience, she has learned to look beyond the face value of the resume and encourages people to exceed all expectations. Her team is the foundation of her business and she loves to showcase their many talents. Her executive assistant, Olivia, is even certified in Feng Shui! Linne also does her best to support the local economy by using and recommending businesses here in town. Even her own office is outfitted in art and décor from local shops.

Linne says, “We don’t need to bring others down to succeed! There is enough to go around in this life. God gives us everything we need, including ALL the gifts and blessings that should be used to assist and elevate others whenever possible!”

Linne has two amazing children. Her daughter, Lindsay Rae, is a successful hair and makeup artist, who has worked in Beverly Hills for the past 12 years. Her son, Lucas, will be taking over the family electrical contracting business in C.A. She gets to see her children often because B.E.S.T also caters to clients in the Beverly Hills and Santa Barbara areas.

Linne married the love of her life, Chris Warner, in 2011. The two are wildly adventurous and madly in love. “He supports me 120% in every crazy idea I have or adventure I suggest. I am so grateful that he has been blessed with some sort of divine resilience, and an extraordinary amount of patience, to put up with my never-ending flow of wild ideas!” The two love to explore together, which is how they ended up in Asheville. They sold all of their belongings and hopped into their RV for a 10-month long road trip from C.A. to N.C. They purchased 17.5 acres of land in Candler, N.C., and built their dream home where they’ve had a horse, a pig, goats, chickens, two tortoises, two dogs, and a cat!

In Linne’s spare time, she loves to ride her horse and is an annual pass equestrian member at the Biltmore Estate and Asheville’s Adult Riding Club. Linne says her source for everything is her faith in God. She is an ordained minister, an Officer of the Court of the Catholic Daughters of America, and a child and hospitality minister for St. Joan
of Arc Church in Candler.

B.E.S.T

Biltmore Executive Support Team

asheville-oms.com/best

828-785-2695

79 Woodfin Place, Suite 205A
Asheville, NC 28801

Special thanks to Jim & Barbara Whitmer, Owners of Encore Stables, for graciously granting us access to their farm, encorestablesinc.com

For the Love of Raspberries

by Natasha Kubis | May 4, 2021 | Asheville, Business, Raspberries, Women, Women Empowerment

For Stacy Fields, life is all about family, faith, and raspberries. Her Hendersonville based farm, Raspberry Fields, is in its fifth growing season. It provides organic and fresh raspberries, fruit preserves, raspberry vinegar, and delicious baked goods to tailgate market shoppers, local CSA’s, wholesalers, restaurants, cafes, beer and cider brewers, bakeries, and other local merchants in Henderson and Buncombe Counties. Their offerings typically include pies, cobblers, muffins, sourdough bread, spiced pumpkin cheesecake, pinwheels, cookies, and pastries galore. They even cater to vegan and gluten-free diets!

Stacy’s agricultural roots began in Crumpler, N.C., where as a child she tended to her grandmothers’ raspberry patches. Her family also grew Christmas trees, tobacco, and had large gardens that provided nourishment for the entire family. Being in nature and having a green thumb has always been a part of Stacy’s identity. In fact, her most loved activity is growing flowers and hiking through the wondrous Appalachian Mountains.

Although being in the garden has always been one of Stacy’s passions, she wasn’t always in the business of raspberries. Both she and her husband, Chris Fields, had been in the construction industry for many years, but during the financial crisis of 2008 to 2009, their sector had been hit hard. As a result, they decided it would be wise to diversify their streams of income and explore the farming industry. In 2015 they purchased 10.5 acres of land in Good Luck, N.C. (15 minutes from Asheville), and sowed nearly 3,000 raspberry plants, and thus, Raspberry Fields was born. They pride themselves on their organic and sustainable farming practices, as well as their beloved variety of Autumn Bliss raspberries. This bright red berry has a superior flavor profile, a long growing season, and endless health benefits.

Raspberry Fields operates all year long. They start harvesting their berries in mid to late June, and the growing season lasts all the way through October. When their fresh berry season is over, they continue selling all of their preserves, vinegars, and baked goods at the holiday markets from October through December. January is typically the month to catch up on paperwork and taxes. February, March, and April are all about the pre-season work ensuring a healthy harvest for the rest of the year. This includes cutting the briars back down while they are dormant, replacing water lines, weeding beds, adding mulch, maintaining irrigation systems, and conducting soil testing.

This Wonder Woman wears many hats. In addition to tending to her raspberries, you can also find her selling specialty windows and doors for Morrison Millwork by day, and baking pies and hand-crafted goodies for the farmer’s markets on evenings and weekends. Her most beloved job of all is being a full-time wife to Chris, and a mom to a big family of 4 children; Ashley, Jacob, Lydia, and David.

One of the most pivotal moments of Stacy’s life was when she and Chris had experienced the same dream. “We both had a dream that we were going to give birth to our son, and his name was going to be David.” The dream was a profound experience for them both because at that time they had already had children who were in their teens and twenties. “We thought that we were passed that stage of our lives”, she said.

Little did they know that it would take them 3 years until their dream of baby David would come to fruition. Stacy had struggled with Polycystic Ovarian Syndrome, which had made it difficult to conceive, and after lots of heartache and struggle, they finally found a supportive and compassionate team of healthcare practitioners at Carolina Fertility and Asheville Integrative Acupuncture. Stacy was finally able to become pregnant with the son that she had dreamed of, literally!

David is now two months old, and her journey to get him here has given her the insight that everything happens exactly when it’s meant to happen. “I’ve learned that timing is everything and it always works out the way it’s meant to. If we had gotten pregnant with David right away, we wouldn’t have had the time to build this network of love and support that we have today. It would have been much more difficult to do everything that we do on a day-to-day basis, without the friendships we have built over the past few years.” Stacy’s favorite bible verse, one that she refers to often, is Isaiah 40:31, “Those who hope in the Lord will renew their strength. They will soar on wings like eagles; they will run and not grow weary; they will walk and not be faint.”

“Our family trusts in the gospel, that Jesus came to pay the debt we could not, and all the promises of God. We attend Biltmore Church and attempt each day to live in a way that brings honor to the Lord”, Stacy said.

You can find the Raspberry Fields bounty at the Hendersonville Farmers Market on Saturdays, the Etowah Farmers Market on Wednesdays, and the Flat Rock Farmers Market on Thursdays. Be sure to savor the taste of the fresh raspberries, jams, vinegars, breads, muffins, cobblers, and cheesecakes. Stacy’s berries are also included in the CSA for TRACTOR, a nonprofit food hub in Burnsville. You can also pick up some products at Swamp Rabbit Café and Grocery, a sustainable grocery store in Greenville, S.C. Raspberry Fields has big plans for the future and they hope to open up their farm for events, which will be perfect for all the destination weddings in the Asheville area.

Raspberry Fields

[email protected]

raspberryfieldswnc.com

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@raspberryfieldswnc