After appearing on Shark Tank, The Sole Mates’ Becca Brown and Monica Ferguson found their best business support came not from the sharks but from a resource that would become key to their growing success. 

In The Sole Mates money story you will learn:

-New details about their Shark Tank experience- including the awkward conversations they had with well-meaning friends before their episode aired

-What happened after their appearance as they became part of the Shark Tank Alumni group

-The role the private Shark Tank Alumni group plays in their current business strategy

-Specific examples of business opportunities that have come their way from being part of this exclusive group

-Details of how they were able to get a major national retail deal that elevated their business

-How they got involved with the NFL

In The Sole Mates money lesson you will learn:

-Specific ways to find entrepreneur groups that fit your business needs 

-Strategies to work to grow organic networks

In the Sole Mates every day money tip you will learn:

-Which luxury shoe brands best retail their value

-How to make sure you don’t lower the value of shoes you intend to sell

-The best strategy and what to look for when buying pre-owned shoes 

Bobbi and the Sole Mates also talk about

-The impact of the national CVS deal on their business

-Other ways they leveraged their Shark Tank experience

-The human element to big brands

In My Take you will learn:

-My strategies for buying gently work handbags and clothing

-How to apply re-sale strategies beyond shoes, to things like wedding dresses

EPISODE LINKS

thesolemates.com

Follow The Sole Mates!

Instagram @thesolemates

Twitter @thesolemates

Facebook The Sole Mates

Shark Tank 

CVS

Amazon.com

Facebook.com

Good Morning America

The View

The NFL

THEREALREAL.COM

Christian Louboutin

Gucci

Heidi Klum

Vera Wang

Oscar De La Renta

Here is an article from one of my favorite websites, The Knot, on used wedding dresses

https://www.theknot.com/content/used-wedding-dresses-buy-sell-online

---

Transcription

Becca Brown:
If someone says, "Hey, this person is a crook. Don't work with them," It's a warning to all of us, like, "Oh, I just got a similar call. Everybody be on warning. Don't take these calls."

Bobbi Rebell:
You're listening to Financial Grownup with me, certified financial planner Bobbi Rebell, author of How to Be a Financial Grownup. And you know what? Being a grownup is really hard, especially when it comes to money. But it's okay, we're going to get there together. I'm going to bring you one money story from a financial grownup, one lesson, and then my take on how you can make it your own. We got this.

Bobbi Rebell:
Hey, Financial Grownup friends. We all need someone in our corner. Actually, we need as many people as possible in our corner. And for entrepreneurs, connections are everything, which is part of the appeal of the show Shark Tank. A deal with one of the sharks, in addition to money of course, opens doors. But a lot happens also after the cameras stop rolling that we don't hear about. More about that from our guest in a minute. You might be surprised.

Bobbi Rebell:
But first, we have some exciting news to share. Financial Grownup is a finalist for Best New Personal Finance Podcast from the Plutus Awards, which celebrate money-related content. And this October my book, How to Be a Financial Grownup, will be coming out in paperback. I hope you pick up a copy, if you have not already. And maybe tell me what you think, and send over some ideas for another book.

Bobbi Rebell:
Back to Shark Tank and our guests, those Solemates co-founders, Becca Brown and Monica Fergusen. They left their jobs at Goldman Sachs to start a company making heel protectors under the brand Solemates, and their products have become huge hits among celebrities. Names like Oprah and her buddy, Gail King, and countless women, including myself. As you will hear, some men as well.

Bobbi Rebell:
So they went on Shark Tank and they got a deal, but the deal actually didn't happen. However, a lot of maybe bigger things, longterm, long "tail", I guess we call it. Big things happened afterwards in a way that I had no idea even existed. Here are the co-founders of Solemates, Becca Brown and Monica Fergusen. Hey, Becca Brown and Monica Fergusen, you guys are financial grownups. Welcome to the podcast.

Becca Brown:
Thanks.

Monica Fergusen:
Thanks, Bobbi.

Bobbi Rebell:
You are the names behind the Solemates, which started with heel protectors, and now have a whole line of many, many things to help us keep our shoes in good shape and weather all kinds of hazards, like weddings. So congratulations on the success of Solemates.

Monica Fergusen:
Thank you, thank you, thank you. You know, we like to say that our goal is to make you more comfortable in your own shoes.

Bobbi Rebell:
Love that, and so does Oprah, by the way. You guys have got amazing press, so many big fans. You also got a lot of press because you were on Shark Tank, where you actually got a deal, after the fact though. And you've talked about this. The deal did not happen for various reasons. But the most interesting thing, I think, that you're going to talk about in your money story is what happens after. Tell us your money story.

Becca Brown:
Yeah, well, thanks for having us, Bobbi. This is Becca speaking. So obviously being on Shark Tank was an amazing experience. We were so thrilled to have that opportunity. But honestly, one of the biggest pleasant surprises to doing the show was what happened afterwards, which is we became part of this incredible, dynamic group of Shark Tank alumni companies; other companies that have been on the show. We are all part of this private Facebook group, and it has been literally the best resource for us to continue growing our business because it's like-minded individuals with, a lot of times, product-based businesses that are growing their companies. And we all are going through the same growth trajectories and sharing ideas and feedback and resources and it's been such an amazing resource for us.

Monica Fergusen:
Every time we would tell someone about what we did, the response was, "Oh, that sounds like something that should be on Shark Tank." And before you go on the show, you can't tell anyone you're going on the show, so it was a very frustrating time for us-

Bobbi Rebell:
Wait, so you knew ... How far in advance before you actually ... first of all, before the taping, and then before it aired ... did you know? How long were you this keeping the secret?

Monica Fergusen:
Well, it was probably only a tight, tight, tight secret for a few months. The application process is really long and really from the time you start applying, you're pretty tight lipped about it because there's no upside in telling people what you're trying to get on. So it was a lot of forced smile responses of like, "Oh, what a great idea. We had not ever considered that"

Bobbi Rebell:
Oh my gosh. So now you have this alumni group. Tell us more about the kinds of discussions and the kinds of advice that you've gotten from that and how has that helped your business?

Monica Fergusen:
The physical manufacturer of goods and the sale of goods comes with it a really unique set of problems including sourcing, including, web development, including your relationship with Amazon, including your PR, your social media, your relationship with influencers and traditional media, your relationship with employees. What kind of benefits do you set up? Do you have your own warehousing? Do you outsource it? There's so many things that come with every part of the business that to date we've kind of operated in a little bit of a vacuum where we leveraged them for everything daily. Being on the show it's a really cool and unique experience and I feel like it's also very much like a reflection of our culture right now, so in 25 years people will have no idea what we're talking about and Shark Tank is that right now and so it's cool to be a part of something that's so like of the moment culturally, which has also helped us grow our business in really unexpected and cool ways.

Bobbi Rebell:
Tell us more about the unexpected and cool ways the business has grown?

Becca Brown:
Well right after airing, we actually reached out to a couple of big mass retailers. CVS Pharmacies was one of them and the timing was perfect. CVS happened to be looking into building out a whole new category around fashion solutions and accessories and we had just had this massive exposure being on Shark Tank and so the buyer was willing to meet with us and literally like a month after Shark Tank, we went up to Woonsock at Rhode Island and met with the buyer and ended up launching in 5000 retail CVS pharmacies a few months later.

Bobbi Rebell:
Wow. Did you go into the Facebook group and tell them about this and what was the reaction?

Becca Brown:
No, it's not really a place where you go and brag. Okay, so if I post a query today saying, "Hey, does anybody happen to know somebody that is working in media covering women's shoes?" Chances are within an hour I would have several responses like, "Oh, I know this person. I know that person."

Monica Fergusen:
Right. It's really, has anyone had this problem or has anyone met this person who's so helpful? It's asking questions and sharing a best practice. So like, "Hey, do you know if you contact Amazon on Sundays and you get the help desk in Ireland, there are much more likely to help your brand do X, Y, and Z if you get, I will not name a country, country on another day, hang up. Because like if [inaudible 00:07:09]

Becca Brown:
And I want to add to that too because I used to rent zip cars and that the sort of ethos of Zip cars was the community takes care of itself and you take care of the car and you return it with gas so that the next person can use the car. And I feel like our Shark Tank group carries that same sort of ethos. We take care of each other. We're looking out for one another. If someone says, "Hey, this person is a crook, don't work with them." It's a warning to all of us. Like, "Oh, I just got a similar call. Everybody beyond warning don't take these calls." And so we all are only as good as what we contribute and we are genuinely wanting to help one another.

Bobbi Rebell:
Can you give me an example of wind that happened for you guys or for someone else in the Shark Tank alumni Facebook group that may not have happened without that network?

Becca Brown:
Good morning America and the television show The View. They do these really cool segments that are kind of like flash sales and on The View it's called view your deal and one of the. Actually two of the other Sharks Tank companies in our group have done view your deal before and they were so kind to introduce us to the group that runs that. So we did it in July.

Monica Fergusen:
And it was a great revenue generator and then more recently someone asked, anyone have products that would be interesting for NFL players in their fall training. So we're like, you know, we have products that we market for women but the product certainly work for men in hot pink packaging with high yield on it. If they're open to it, we're open to it and the managers looked at our product line and were like, "These products are amazing."

Monica Fergusen:
And so a 110 NFL players have been using our blister blocker and antibacterial spray as a result of some of the Shark Tank group The Newson sports managers who are looking for products for gift bags and looking to create relationships between celebrities and product companies and get nothing from it. Like the people in the group get, there no economic gain for them. It's more people they know have been put together with other people they know and that kind of goodwill you realize as you get older. It doesn't exist in that many places in the world people are often looking like, what can I get out of this? Or I can introduce you but like what's my take? And that is definitely not in line with the spirit of the Shark Tank group.

Bobbi Rebell:
What is the lesson for our listeners from that?

Becca Brown:
I think a lot of entrepreneurs, if they make a leap to start off their own business, they've come from a company where there's a lot of infrastructure, a lot of resources that you may have taken for granted and when you venture out on your own, as Monica touched on, it's very isolating and I think it's very important as soon as possible to start building a really strong organic network that is going to help you grow your business. And so obviously not everybody is going to be able to be part of the Shark Tank alumni group, but I mean looking at other entrepreneurs groups in your area, leveraging like the Chamber of Commerce, leveraging the small business administration. I think looking at your alumni network, a lot of times alumni networks do have an entrepreneur focus. There's like a sub network and it just can be so much more helpful to have that kind of a focus network because everybody's kind of in it to help one another, but also to expand and grow their businesses.

Bobbi Rebell:
You guys brought a fantastic shoe themed everyday money tip, do you tell?

Monica Fergusen:
Yes. So we're in the business of shoes and we are both appreciators and to some to be collectors of nice shoes. Not all high heels but many high heels, but something I think people should take in mind when they are considering a purchase of new shoes is that sometimes the more you spend, the more you can get back. And if you look at the success of the secondary market, the used clothing market for shoes, it's thriving, but in particular Christian Louboutin and Gucci are two brands that stick out as having the strongest bid for their gently used shoes. If you spend a thousand dollars, God bless you on a pair of shoes, the real real Mike Compu is several hundred dollars when you sell it again.

Bobbi Rebell:
What do you mean by Compu?

Monica Fergusen:
I mean they will have someone buy from you.

Bobbi Rebell:
Okay.

Monica Fergusen:
To make it simple. It's $500. So your net cost on that shoe is only $500. Whereas a lot of other designers that are not quite as high don't have a strong secondary bid. So you're unlikely to recoup any cash when you try to sell them. If you try to sell them, but Christian Louboutin and Gucci in particular, the real real has reported have done phenomenally

Bobbi Rebell:
So interesting. What about the fact that they are worn a little bit? Can you get them resoled? How does that affect the value, if you like with the Christian Louboutin, those are the shoes. Just so people know. I personally, by the way don't own any, but maybe some day they have the red bottoms, so what happens if you've worn it? Can you get them sort of resold? Because I resell a lot of shoes sometimes if I like them. Does that hurt the value? If you then put on new soles, can you paint them red? Does it matter?

Monica Fergusen:
It actually hurt the value. Done something like put on a new sole. They want the shoe to be in pretty good condition. I don't want to plug my own product too, but using things like a heel protector is a great start because the damaged heel-

Bobbi Rebell:
Which you should do anyway, whether you're going to sell it or not?

Monica Fergusen:
Well absolutely, but a damaged heel really can't be fixed. So you wear a little heel protector, keeping that heel in perfect condition, therefore it's so much easier to sell it. As someone who sells a lot of shoes, I can attest the lifetime value of the heel protector exceeds its retail value because it's a gold age-

Bobbi Rebell:
Well how much is, I mean they're not expensive. How much is a heel protector?

Monica Fergusen:
$10.

Bobbi Rebell:
Exactly.

Monica Fergusen:
And that $10 is probably generated hundreds of dollars in resale for me on my shoes.

Bobbi Rebell:
What about buying shoes secondhand? What do people need to know there, what should they look for? Any tips?

Monica Fergusen:
So it's actually great to buy a shoe secondhand. And I have no economic interest in the real real, but I'm a big fan of theirs.

Bobbi Rebell:
Oh, I've sold stuff fair. They're great.

Monica Fergusen:
Yeah. But you can feel comfortable buying stuff from them too because they do have a really sharp guy and discipline and what they'll accept and they'll take anything back for them. I mean they'll let you know before you buy it, if it's final sale, but for the most part things are returnable.

Bobbi Rebell:
All right. Let's talk a little bit about Solemates. So what's going on with you guys? You're everywhere these days.

Monica Fergusen:
We're trying, we're trying. I mean CVS has been a great boon for our business and brought us in so many new customers and such great exposure and it's also been really fun to meet the brands that were sold within CVS. I mean it's more, again, more like-minded people, non Shark Tank brands. But we reached out to the other brands that were sold with just to introduce ourselves. A lot of them are based in our area, so we've been able to actually get together and have coffee. I think people sometimes forget there's a human element to everything. And so these massive brands that have names are intimidating because they've got Heidi Klum on their packaging, but they're run by real people that have real jobs and do a lot of the same things that we do.

Bobbi Rebell:
So tell us more about where people can find you and keep up with all the new products that you guys will be putting out?

Monica Fergusen:
Yeah, so we're @thesolemates on Instagram and twitter and Facebook and our website is thesolemates.com where we're sort of up to date with all of our retailers and all of our products were sold at CVS, DSW, David's bridal, Von Mar, about a thousand independence all listed on our website. Always changing, always, hopefully, always growing our website and Amazon.

Bobbi Rebell:
Great. This has been wonderful. Thank you so much.

Monica Fergusen:
Bobbi. Thank you so much-

Becca Brown:
Thank you Bobbi.

Bobbi Rebell:
Hey friends. Not your typical everyday money tip, but personally I kind of loved it. There's nothing wrong with having fantastic shoes. If you can get them at a huge discount, barely worn even better, but know to buy. Financial Grownup tip Number one. So the same idea goes for other things that you may not think you can afford or want to spend big money on, but if you buy gently used ones, maybe they do fit into your mindset. For most of us, it's really about getting past that psychological barrier, whether it's the idea of buying something that has been gently worn or just the idea of owning something that is so expensive. Even if you didn't pay the original retail price, so it's important to look for niche sites that specialize in what you want.

Bobbi Rebell:
The Real, real that Monica and Becca referenced is luxury, especially shoes and handbags, but you can also look, for example, for wedding dresses, so according to The Knot a used wedding dress in great condition can sell for 50% of the retail price. Just as is the case with shoes. Some designer names like Vera Wang and Oscar De La Renta will get a higher percentage. So if you want to go really high end and you know you're going to sell your dress after your wedding, know what you're buying so you know what you're selling and you can maybe choose a designer assuming that you liked that designer because you're going to be of course wearing the dress, which is the most important thing, but maybe if you're selecting between two, select a designer that will have the higher resale value. I'm going to leave a link to The Knot with some websites that you can check out.

Bobbi Rebell:
If you want to know more, including or to possibly even rent a wedding dress, the show notes that will have all this information are @bobbirebell.com/podcast/the soul mates. Financial Grownup. Tip number two, turn lemons into lemonade like the ladies did. Their deal fell through, but in the end, Monica and Becca leverage the Shark Tank experience and grew their business from the show anyway. Setbacks are only that and while they are a mum about why exactly the deal didn't happen ultimately my sense is that it just didn't work for both parties when it came down to it and that's okay. No deal is better than the wrong deal and that's a great lesson from Becca and Monica.

Bobbi Rebell:
Alright everyone. Please be in touch DM me on all the socials. I am @bobbirebell1 on Instagram, Bobbirebell on twitter, and sign up for our newsletter@Bobbirebell.com and thank you for a great story to Becca and Monica. So much we didn't know about Shark Tank and for helping us all get one step closer to being Financial Grownups. Financial Grownup with Bobbi Rebell is edited and produced by Steve Stewart and is a BRK media production.

As a young woman in New York City, Randi Zuckerberg, author of “Pick Three: You Can Have It All (Just Not Every Day)" was struggling financially. Her mom, knowing the financial strain, came armed with… luxury goods. Think Jimmy Choo shoes. But as Randi explains, the designer duds were part of a very intentional lesson, that put Randi right on track to being a financial grownup. 

 

In Randi’s money story you will learn:

-How Randi struggled to make ends meet on her first salary of just $28,000

-Why Randi’s mom would take her out and buy her luxury goods, but not help her with her every day expenses

-What Randi did when she literally could not afford to buy a metrocard for the NYC bus and subway

In Randi’s money lesson you will learn:

-How her mother’s strategy helped Randi find her path to financial independence

-If Randi still has all those shoes!

-The one thing Randi would change when she teachers her own children about money

In Randi’s money tip you will learn:

-Why she is paying attention to Bitcoin and Cryptocurrency

-How you can learn more about Bitcoin and Cryptocurrency

In My Take you will learn:

-How to manage social media envy

-The specific thing you can do with your own social media content to improve your experience and that of your friends

-Why and how you can learn more about bitcoin and cryptocurrency

Episode Links:

Learn more about Randi on her website Zuckerbergmedia.com

Get Randi’s book! Pick Three: You Can Have it All, Just Not Every Day

Learn about Cryptocurrency from Randi in this tutorial

 

Follow Randi!

Facebook Randi Zuckerberg

Instagram @RandiZuckerberg

Twitter @RandiZuckerberg

 

Also mentioned

Statement Event

Empower App

---

Transcription

Bobbi Rebell:
Support for Financial Grownup with Bobbi Rebell and the following message come from TransferWise, the cheaper way to send money internationally. TransferWise takes a machete to the hefty fees that come with sending money abroad. Test it out for free at transferwise.com/podcast or download the app.

Randi Zuckerber:
You know, I would turn to her and I would be like, "Mom, I love these Jimmy Choo shoes but I really could use help with my rent, or I could use help with food and things like that," and she was like, "Nope."

Bobbi Rebell:
You're listening to Financial Grownup with me, certified financial planner Bobbi Rebell, author of How to Be a Financial Grownup. And you know what? Being a grownup is really hard, especially when it comes to money. But it's okay, we're going to get there together. I'm going to bring you one money story from a financial grownup, one lesson, and then my take on how you can make it your own. We got this.

Bobbi Rebell:
Hey everyone, my friend Randi Zuckerberg is known for a lot of things. It would take an entire podcast to name them all, so some highlights. She is a bestselling author of Dot Complicated, a Broadway actress and singer with a head star in Rock of Ages. She is the founder and CEO of Zuckerberg Media. Randi is also the force behind Sue's Tech Kitchen, she's got her weekly Sirius XM show, and oh, by the way, she created this little thing called Facebook Live. But her most recent project is Pick Three, which is a book about priorities, and with all that Randi has going on you bet she has had to get a handle on how to focus on what matters most, even if that changes every day. Here is Randi Zuckerberg.

Bobbi Rebell:
Randi Zuckerberg, you are a financial grownup, welcome to the podcast.

Randi Zuckerber:
Thanks so much Bobbi, it's great to be here.

Bobbi Rebell:
Major congratulations, another, in this case soon-to-be bestseller, your new book Pick Three: You Can Have It All (Just Not Every Day). We're going to talk more about that later on, but just high level, this is something you've had in your head basically for your whole adult life. Tell us briefly about the concept, and then we'll do more about the book later.

Randi Zuckerber:
Sure. Well, we're all juggling so many things. I know you and I, we both, we're entrepreneurs, we're moms, I feel like there's so much pressure on all of us to be perfect at everything we do. Especially you log onto Instagram and everyone's lives look so perfect and so amazing, and then it's easy to sit there and think, "Gosh, how come I don't have my act together? Why don't I have it all and have that perfect balance?" And what I've really started to feel over the years is that it's just, it's time for us to stop carrying so much guilt around. Nobody has it all. Nobody has perfect balance, no matter what their lives might look like on Instagram. And so when I thought about the times in my life I felt most proud of my accomplishments, it was not when I was balanced. It was when I gave myself permission to just prioritize and go for it in a few areas of my life, so that's what I'm writing about. It's called Pick Three, and it's work, sleep, family, friends, fitness - pick three.

Bobbi Rebell:
Awesome. And by the way, just to show how much I love this book and how obsessed I am, I actually made notes in the book already. You can learn more about Randy's philosophy on social media and how our lives always look better online, page 211. That was one of the things that I flagged. So that's how good her book is, I have a book full of little post-it notes. Okay, we're going to go back to the book, but I want to talk about your money story, because it's something that I actually related to, because something very similar happened when I was a young adult, in my case also in New York City. Tell us your money story, because it has to do with the way that your mother taught you to earn your own money, but yet still was supporting you in different ways.

Randi Zuckerber:
Totally. And it's funny, because I didn't really learn the lesson of this story until many years later. In the moment, it felt kind of random, and now I'm so thankful to my mom for that. So in the book I go a bit deeper into the story, but when I was right out of college I landed a job at an ad agency. I was making I think $28,000.00 a year, which to live in Manhattan, that just doesn't work. I was in this apartment that was probably supposed to be a one-bedroom but there were four of us that were living in it, and my part of the apartment was a fake wall partitioning off a corner of the living room.

Bobbi Rebell:
Probably illegal, too.

Randi Zuckerber:
Yeah.

Bobbi Rebell:
We know all about those.

Randi Zuckerber:
Yes, I'm sure it was illegal, and it was taking up an entire paycheck every month. And my mom lived about an hour outside of the city. We've always been such close friends, my mom and I, and she would come into the city to take me out for dinner because I definitely couldn't afford to go to a restaurant on my own. And then she would be like, "Let me help you out," and she would take me shopping, and she would buy me fancy shoes. Like Jimmy Choo. Like the fancy-

Bobbi Rebell:
Where were you going in the Jimmy Choos?

Randi Zuckerber:
I know. And I would be like, "Mom, that's so nice of you to buy me Jimmy Choo shoes, but can you help me pay my rent? That's where I really need help."

Bobbi Rebell:
At one point you couldn't buy a Metro Card, right?

Randi Zuckerber:
That's right. There was one month that I had to walk everywhere because I didn't budget well, and I couldn't afford the $120.00 or whatever it was at that time for a monthly Metro Card. And so I walked everywhere in Manhattan for a month. That's kind of the state of how I was living.

Bobbi Rebell:
Were you walking everywhere in the Jimmy Choos, though?

Randi Zuckerber:
I know, right? Luckily I had fancy shoes to walk in, so you know, good for that. But I would turn to her and I'd be like, "Mom, I love these Jimmy Choo shoes but I really could use help with my rent, or I could use help with food and things like that," and she was like, "Nope." She was like, "You know, it's really important that you make it on your own, you're a professional woman. It's really important that you cover the basics of your life on your own." She's like, "But I'm here to show you what to aspire to."

Bobbi Rebell:
Wow.

Randi Zuckerber:
"The reason that you're working hard and to show you that it's okay when you do make that money later in life to treat yourself, and just spend a little bit of that money on yourself."

Bobbi Rebell:
Nice. So for our listeners, what is the lesson from that? What is the takeaway? How can they apply it to their own lives?

Randi Zuckerber:
For me at the time, it definitely felt a little frustrating. It was frustrating that I could barely afford a Metro Card but I had this closet full of beautiful designer shoes. But at the end, when I do look back now on those periods of my life, I'm proud of myself for supporting myself. Even though it was hard. Even though I was barely making any money at all, I look back on those years with pride that I took care of all my own living expenses, that I made it on my own. And I actually still have those Jimmy Choo shoes in my closet as a reminder, the first big girl items that I really ever owned, and they always serve as a reminder to me that the reason that we work so hard in life is not just to accumulate wealth or status. It's so we can treat ourselves and we can treat the people we love, and we can really enjoy our lives and our money.

Bobbi Rebell:
And so would you do the same lesson with your own children, knowing what you know now?

Randi Zuckerber:
Maybe I would keep the receipt in the box in case they needed to return it to help pay their rent. My mom used to take-

Bobbi Rebell:
So wait, did you ever try to return the shoes?

Randi Zuckerber:
No, she purposely would take the receipts home with her so I couldn't, and in those days there wasn't eBay to sell them on or things like that. But honestly, if my kids were motivated and ambitious and driven enough to think of ways to resell them, then that's great, that's teaching them an entrepreneurial lesson.

Bobbi Rebell:
All right, let's talk about your money tip, because it's something we haven't talked about here on Financial Grownup, in part because I don't know a lot about it, and that's kind of your point. What is your money tip?

Randi Zuckerber:
So my money tip is to make sure that you're not just focusing all of your effort on learning about the systems that are already in place. Make sure that you're spending some time thinking about the new financial trends that are going to be coming out in the next few years. Specifically I think the biggest trend that's going to hit this industry is cryptocurrency and blockchain. I know I've personally spent a lot of time over the past two years learning about this space and educating myself, and I think it's so important for women especially to learn about this space, because right now only about 2% of cryptocurrency is owned and traded by women. And ladies, what's the use of catching up with our financial knowledge over here if we're then just going to be completely left behind in ten years on the next new thing that's making all of these new millionaires? I don't know about you guys, I don't want to be left out of the next thing that's making all these millionaires, so I think it's really important, even if you're not investing in this space, to at least understand it enough to be able to participate.

Bobbi Rebell:
Where is the best place people can learn more about it?

Randi Zuckerber:
I love listening to a lot of podcasts. I actually am so passionate about educating women that I literally just sat in my closet with a microphone this week and recorded a two-hour introduction to Bitcoin and Blockchain that I'm about to release. So I'll definitely give you more information on that, and it's specifically designed to teach women the basics of crypto.

Bobbi Rebell:
Perfect. So now we have where we can go, I will make sure to put the link into the show notes for everyone. So that's your gift to our listeners, thank you so much, Randi. This is great. Okay, so now we get back to what I really want to talk about. So I've got this book here with all of these ... I almost ran out of post-it notes, because I have so many post-it notes in the book, and we have to keep it short because this is a short podcast. But it's basically about being lopsided and being okay with that. And that's almost how you got into college, was just saying, "I'm not going to apologize for not being balanced."

Randi Zuckerber:
Totally, well I think, and I'm sure, Bobbi, when you think about the things in your life you're most proud of, the things you hope we're alive to tell our great-grandkids about, each of us have three or four things on that list that we're super proud of. It's probably not times in your life that you were super well-balanced. For me, that list right now is completing a marathon, singing on Broadway, being part of Facebook, and having my two children, and not one of those four things happened when I had balance in my life.

Bobbi Rebell:
Wow.

Randi Zuckerber:
All of those things happened when I really allowed myself to just go for it and be super lopsided and prioritize a few areas in my life at one time. And so I want to give especially women out there permission to pick three. Pick a few things in your life that you want to prioritize, because there will be other times and other phases to pick other things and round out your life. But just give yourself the permission to go for it and be excellent in whatever you want to do without the guilt.

Bobbi Rebell:
I love it. One of my favorite areas was when you talk about quick fixes if you're feeling exhausted, and I say that because this book is also very practical, because people feel overwhelmed and there are very specific solutions in the book. Even at the end there's worksheets so that people can make it applicable to their own lives and really make it specific and actionable.

Randi Zuckerber:
Thank you, well you know, I live in the real world. In an ideal world we'd all be getting a lot of sleep every night, and going to the gym, and spending time with our children every day, and doing all of these things, but at the end of the day we all live in the real world, and I know that there's some days that you just cannot pick sleep. Your kids are sick, you have a deadline at work, there's something going on, you have an early plane to catch, so I tried to also, while encouraging people to pick different areas, also tried to give some hacks to actually get around it and still function in your life if you can't pick that one area.

Bobbi Rebell:
So it's three, and the five things that you're picking three from are sleep, work, friends, family and fitness, and the great thing about the book is you break down each one.

Randi Zuckerber:
Yes. I try to break it down, and I also really tried to interview a mixture of people across all ages and walks of life. Because if you're in the position that you can pick which areas of your life you want to prioritize then you're in a real state of privilege, that everything in your life is going so well that you can choose. There are a lot of people out there who have life circumstances where they just can't choose what they want to focus on. Life picks for them. And so I wanted to make sure that all different people are represented.

Bobbi Rebell:
Randi, where can people find you and learn more about everything you're up to, including Pick Three?

Randi Zuckerber:
Thank you so much, I have been known to be available on a few social media channels.

Bobbi Rebell:
A few.

Randi Zuckerber:
Yup, [inaudible 00:13:14] Facebook, and one's owned by Facebook. But yes, you can find me on Facebook, on Instagram and Twitter, I'm @randizuckerberg, and then Pick Three is available on Amazon or any of your favorite bookstores. I love indie bookstores and promoting them, so go pick it up at a cool indie bookstore near you.

Bobbi Rebell:
Congratulations on all, and keep in touch.

Randi Zuckerber:
Thank you so much Bobbi, this is awesome, love your podcast.

Bobbi Rebell:
Hey friends, I think we all have a good sense of how Randi stays so grounded despite literally being on the go all the time. I have been personal witness to that. Prioritize and keep perspective.

Bobbi Rebell:
Financial Grownup tip number one: You may have noticed that one area of Randi's book really hit me. All of our lives look like so much fun online. So many of us, myself included, have felt a little wistful when we see photos and videos of friends who always seem to be vacationing while in the perfect outfit, and going to a fantastic concert where of course they get to see Beyonce and hang out with her and Jay-Z backstage. Just kidding, but only about part of that. But we are all actually usually happy that they're having fun, it's not necessarily competitive, but still. Remember, it is a curated version of their life. Real life can't be edited, and filters don't work outside of the digital world. Randi's advice that really resonates with me? Flip that back to what you can control, and be a little more intentional about what you post, about the image that you put out there to other people. Don't just post your own perfect moments, try to be more authentic with your social media, and maybe we'll all get the hint and be a little more real.

Bobbi Rebell:
Financial Grownup tip number two: Let's all go out and learn about Bitcoin. I said learn, not invest, though you can if it's right for you. The truth is, as Randi said, we may be missing a big opportunity. I always think of famous investors like Warren Buffett who say they don't invest in anything they don't understand. So let's understand and make a decision from a point of understanding and information. I was recently at a retreat called Statement Event, it was women thought leaders, a very small group of us, about 17. We had dinner with a CEO of a company called Empower, and he asked this group of all women how many of us talked about Bitcoin as an investment option for our followers or listeners. The room got silent. He asked, had we really investigated? Nope. I'm going to check out Randi's tutorial, and I will leave the link for you guys as well. Let me know what you think. Make sure to pick up your copy of her new book, Pick Three: You Can Have It All (Just Not Every Day) and write a review for Randi. Authors love reviews.

Bobbi Rebell:
Thank you all for your support. The show has been growing, so please keep sharing on social media, writing reviews on iTunes aka Apple Podcast, and subscribing if you have not already so you don't miss any upcoming episodes.

Bobbi Rebell:
Do you have a money story that you want to share? Maybe a great money tip? We are starting to have listeners as guests once a month, so to be considered email us at info@financialgrownup and just tell us what money story and money tip you would share if you are chosen.

Bobbi Rebell:
To learn more about the show, go to bobbirebell.com/financialgrownuppodcast. Follow me on Twitter @bobbirebell, Instagram @bobbirebell1, Facebook I am at Bobbi Rebell. Randi Zuckerberg really nailed it in this episode, helping us all get one step closer to being financial grownups.

Bobbi Rebell:
Financial Grownup with Bobbi Rebell is edited and produced by Steve Stewart and is a BRK Media production.