Dr. Barbara Provost is the Founder of Purse Strings, LLC., an organization that offers women free, straightforward financial tools and resources and an available-for-hire network of vetted professionals who specialize in serving women.
For more details, visit their website here.
Here, we sit down with Dr. Barbara to learn more about her journey as an entrepreneur.
Q. Tell us a little more about your journey as an entrepreneur – how did you get started?
Dr. Barbara: As a consultant in the financial industry, I could see where women were an overlooked market. From the marketing materials, the sales teams, the products, and the linear sales process, nothing spoke to the needs or desires of women and their financial future.
My observations across the industry, my research, and the focus groups where I talked with hundreds of women all validated my findings: financial institutions are overlooking women, and it is hindering their ability to plan for a solid financial future.
That all stops with Purse Strings. We are like “Angi’s list” of financial professionals for women. We lead with education, knowledge, and skill. When women need to hire a financial professional, they can go to our directory, peruse all of the professional profiles, and quickly make an appointment with them right through our site.
Q. What entrepreneurial tricks have you discovered to keep you focused and productive?
Dr. Barbara: Passion! As an entrepreneur, what works for me is that I have a driving passion to get up every morning and continuously serve a huge need. From my work as a consultant in the financial industry, from my own divorce experience, from looking around in my daily activities, and seeing women of retirement age still working to make ends meet, there is a huge gap between women and the financial industry. Women will age alone and be responsible for their own financial decisions. So many of us have not been given the tools, resources, or the right professionals to partner with them to build a healthy financial future. That’s what we are doing every day at Purse Strings.
Q. How do you stay organized with such a busy schedule?
Dr. Barbara: I live by this mantra: if it’s not on my calendar, it’s not happening. A lot is going on in my world, as for any entrepreneur, and it has to be scheduled. I also have a paper calendar that is my go-to daily tasks list of things that must be done. I’m good at time management, and these two tools work the best for me.
I love being immersed in this work every day. What drives me is when women share their success stories, like… I got my Powers of Attorney and a Will and now my family and I are all prepared. Or, I have a plan to get my debt paid down and save for an annual vacation… whew! Or, I am so glad I have a financial advisor who gets me! This is the kind of validation that shows me that the Purse Strings model is working.
Q. What is one thing you would do if you had a magic solution?
Dr. Barbara: Close the pay gap, which is currently .83 cents on the dollar. Pay women for their unpaid work (sometimes called second shift), including caregiving for children or family members who are sick or aging. Women lose hundreds of thousands of dollars in retirement investments doing this work. Equality in all things for all of us!
Q. If you were to write a book about yourself, what would you name it?
Dr. Barbara: I would name it “Creating the Greatest Change: The never-ending effort to create financially fearless futures for all women.”
Q. What motivates you?
Dr. Barbara: My mission, my business partner/daughter, and the desire to make a change in the world.
Q. What is one of the best or most worthwhile investments you’ve ever made
Dr. Barbara: My children. They bring me the greatest joy and help make the world a better place.
Q. What key activities would you recommend entrepreneurs invest their time in?
Dr. Barbara: Your network is your net worth. It’s about being a giver before asking for something. A rising tide lifts all boats. Also, life-long learning… things are constantly changing, and we need to constantly learn and be in the know.
Q. What is your ‘one-sentence’ piece of advice you’d like to give to someone who wants to become an entrepreneur, coach, or business owner?
Dr. Barbara: Make sure it is something you are so passionate about that you would work harder than you’ve ever done in your whole life. It’s no small feat but worth it if you have a mission you believe in with all your heart!
To keep up to date with Barbara and her journey, connect with her on Facebook.