Brittney Castro discovered the significance of endurance when trying to promote her personal enterprise. As an entrepreneur and monetary planner, she added saleswoman to her listing of titles as she tackled quite a few negotiations and potential offers. 

After rejecting a failing negotiation, she feared a deal may not occur and started shifting her focus again to working her firm. However then, proper earlier than the pandemic hit, all the pieces fell into place. On this episode, hear how Brittney discovered to let go, and the way typically that’s precisely what is required. 

Avail​​ready wherever you hearken to podcasts: Apple | Spotify | Web site

MEGHAN BARR

For individuals who aren’t conversant in your work, are you able to give a fast overview of who you’re and what you do?

BRITTNEY CASTRO

I’m a licensed monetary planner and I’ve my very own firm, Brittney Castro Inc. I did monetary planning for 15 years with people, serving to them construct a monetary plan and roadmap, serving to them with their investing. 

And on the similar time, I used to be additionally doing lots of talking [engagements]. And about 10 years in the past, I began doing model partnerships to show monetary literacy. So lots of content material creation. However yeah, I suppose these days, you may name me a monetary influencer, I’ve heard that. Content material creator. I don’t know. I don’t actually like labels. I simply really feel like I’m a enterprise proprietor and I’ve a handful of providers that I do. And it’s all within the finance and enterprise class.

MEGHAN BARR

So inform me about your background in gross sales. How did you get began?

BRITTNEY CASTRO

I took a job as a monetary advisor at a school. I had no concept what it was, I simply mentioned sure. Fortunately, at the moment, there was lots of coaching. 

So I discovered learn how to discuss to purchasers, learn how to get purchasers, learn how to prospect, learn how to market, and learn how to do monetary planning. I felt very lucky as a result of at the moment within the monetary providers world, there was nonetheless some huge cash being poured into growing younger advisors, which I feel is turning into extra uncommon. 

However the job was like gross sales. I by no means had a wage. I used to be at all times on fee, at all times answerable for making my very own earnings, making my very own success. So early on, I discovered gross sales. I didn’t actually essentially like the thought. I feel there’s that stigma that comes with chilly calling and gross sales. 

However again then, it was simply, “That is what you bought to do to have this job, to make an earnings.” So I did it. And over time since then, I actually see gross sales utterly in another way. I’ve positively developed it in my very own sense. For me, lots of it’s simply connecting with folks, constructing relationships, telling them what I do. And if I try this authentically, which is simply a part of my character and who I’m, stuff occurs. 

Even after I go to enterprise occasions or networking occasions, I’m not there on a mission. I don’t have an agenda, like I’ve bought to promote an individual or make a transaction. I don’t assume that means. All I take into consideration is, “I’m simply going to attach with folks.” 

And I do know now from expertise, these connections lead someplace. I don’t know the way, when, or what, however they often do. And that’s, for me, extra fulfilling.

MEGHAN BARR

Properly, it sounds such as you’re leaning into authenticity somewhat than attempting to pressure one thing that possibly isn’t there.

BRITTNEY CASTRO

Completely. No person needs to be compelled to do something, proper? And by chance, I’ve confidence in life basically, however much more so now due to my expertise. I’m like, “Right here’s what I do. Right here’s how I do it. If you wish to work collectively, nice. If not, that’s OK too. Like, it’s not an issue.” 

However should you inform me your downside, I’ve an answer. And to me, the suitable folks will stick and it’s not a matter of attempting to promote folks, it’s simply telling them what you do and so they’re both going to do it or not. And I feel it’s far more of a female means of working a enterprise and promoting.

MEGHAN BARR

That’s nice. What has your expertise been like, as a lady working on this world?

BRITTNEY CASTRO

Yeah. I’ve used it to my benefit, to be trustworthy. It by no means actually was an issue for me. At first, I did discover straight away, I used to be positively distinctive and totally different than many of the monetary advisors, and I used that. 

I used it to construct a reputation for myself, and credibility, and created a complete model round it. Initially, my firm was referred to as Financially Sensible Ladies, and I used to be advertising and marketing myself because the monetary planner for busy and profitable ladies. I created content material all about ladies and cash. I constructed my enterprise in a means that I felt would serve the ladies purchasers that I used to be going after, which was a fee-only mannequin — which, 10 years in the past, was not quite common. 

And I did it just about. I created a YouTube channel and began creating content material. So for me, being a lady in finance, I at all times noticed it as a chance. Like, “I’m going to leverage this.” 

In fact, there’s challenges. In fact, there’s the hurdles of simply being so totally different and not likely talking the identical language as many of the monetary advisors. However I at all times have a tendency to have a look at these sorts of challenges as alternatives. I actually leveraged it. And I nonetheless do. Not possibly as a lot of the women-focused content material, however nonetheless, it’s a part of my model and a part of how I constructed a reputation for myself within the business.

MEGHAN BARR

That’s a terrific level. So clearly, this present is about individuals who have had some gross sales deal that they will’t neglect. And I need to hear about your story. So the place does this story start? Take me again to the start of this deal that you just need to speak about immediately.

BRITTNEY CASTRO

So the deal I need to speak about is simply promoting my observe. When you could have a monetary planning firm, there’s this concept that you just construct fairness. The purchasers that you’ve got, if there’s some type of recurring income, that’s what we contemplate the valuation of your online business. 

In order that’s the way you worth a monetary planning enterprise, via your recurring income, via the purchasers that you’ve got. So after I first began, I labored at extra of a company mannequin for 5 years. And sadly, there wasn’t the possession of your purchasers at that firm. 

I rapidly realized I couldn’t keep on this mannequin, as a result of I wished to have a enterprise. Like, I’m a enterprise thoughts, and I believed, “Properly, what’s the purpose of getting purchasers in the event that they’re technically not my purchasers? I’ll by no means have fairness.” 

So I left after 5 years and began over. I couldn’t take these purchasers with me. And I went to an impartial monetary agency that allowed me to have fairness. It value extra as a result of there’s extra out-of-pocket, however not less than I used to be constructing fairness. 

After about two and a half years, I constructed somewhat model, a reputation for myself, and I bought it. I bought it to the fellows on the workplace I used to be working at to then create my very own monetary agency. We name {that a} registered funding advisory agency within the monetary world. So I type of had these bridges, proper? Like a company impartial, working my very own monetary store. 

So I had that child sale or acquisition that taught me learn how to do it. It taught me, “Oh, if I construct purchasers and I construct this income, I might do it once more.” So after I began my very own monetary agency, that was what I used to be going for. I might construct my ebook of enterprise, my purchasers, up once more to the purpose the place I might promote it, finally. 

And on the similar time, I used to be additionally constructing my model partnerships and talking. I had a enterprise that had what I name two pillars: the purchasers, and public talking, model partnerships, and content material creation. 

In 2019, I simply began speaking to lots of corporations. That technique of speaking to corporations took me a yr and a half of going via possibly seven negotiations, really with totally different monetary corporations, studying what I wished out of the deal, what I didn’t need out of the deal. 

As a result of the deal that I used to be wanting was very particular, and I didn’t see it accomplished. I wished to promote my current purchasers and likewise associate with the agency who purchased it, to have a referral association. So all of the purchasers that I continued to ship to them, I might get a reduce. 

So I had like three jobs. I’m working the purchasers, doing these model partnerships, and I’m negotiating. After which I’ve to maintain all these negotiations secret and I can’t let it take over the work, as a result of it’s important to be absolutely current with these different roles. 

I stored telling myself, “OK, hold in there. Dangle in there. It’ll work. It’ll work.” However typically, you’re like, “Dang, however when? Like, how for much longer? I’m drained.”

MEGHAN BARR

What was your lowest level all through this course of? Like, was there some extent the place you simply have been feeling actually down about it, or issues weren’t going nicely, otherwise you had a nasty dialog? Is there something that stands out to you on that journey?

BRITTNEY CASTRO

The final deal, the corporate ended up performing some screwy issues in the long run, so I didn’t take that provide. The proprietor of that agency, principally wished me to return work for them for a yr totally free. 

On the finish, he put a wage out for like $100,000 that I might work and assist with the transition, which was at all times type of a part of the plan with these offers. You’ve bought to assist the transition. 

However then on the very finish, he was like, “Properly, we’re not going to have the ability to pay you. However that is what you will get out of it.” 

So I used to be like, “You need me to return be just right for you totally free for a yr? Like, in what actuality would anybody say sure to that provide?” So it went from all these guarantees, to principally giving me little or no for the precise enterprise after which wanting me to work one other yr for no cash. 

And he mentioned some issues to me too, nearly like his negotiation techniques. He would say some jabs in the direction of me like, “Properly, that’s not the way you negotiate.” 

After which on the finish, I actually wished to inform him, “That’s not the way you negotiate.” However I took the upper street and I simply mentioned, “Look, that deal’s not going to work for me. I’m sorry that we really spent this a lot time, and also you led me on for 3 months to only come to this realization. However no, I’m by no means going to take that deal. So greatest needs to you.” 

And I noticed, “ what? I’m simply going to run the observe. I don’t need to promote anymore.” It was like a year-and-a-half journey. I don’t need to promote anymore. I’m simply going to maintain doing it. Possibly I’ve to attend one other two years. Who is aware of?

I actually was like, “No extra. I’m not going to speak about it anymore. I’m simply going to run the observe and do them each,” like do these each pillars. Although I used to be at capability. 

After which like per week later, a lady I do know within the business — she was additionally a CFP n— mentioned, “Oh, Brittney, are you continue to desirous about promoting your observe? I do know this lady who’s trying to purchase.” 

And I had identified of this lady, however I had by no means talked to her on this year-and-a-half-long journey of conversations with each agency I might consider. And so it was simply a kind of issues. We talked, it was straightforward. At the moment, I used to be very clear. Right here’s what I would like. We’re both going to do it or not. And it simply type of labored out nicely. 

We had about six months of really placing that deal collectively, then inking the deal, after which one other three months of me transitioning all of these purchasers. So it was a journey. After which the pandemic occurred. So then it was like excellent timing.

Speak about life. As a result of I had transitioned and now, I used to be simply doing the model partnerships. And I might really really feel like, in any case these years of working, I might calm down for a bit. And I actually informed myself, “As soon as I do that deal, I’m simply going to relax for somewhat bit.”

MEGHAN BARR

That’s wonderful. What would you say is the overarching lesson that you just discovered from the entire thing?

BRITTNEY CASTRO

I might say possibly the general lesson is you’ll get what you need on the finish, and it’ll be higher than what you thought. It’ll be extra in alignment with what you actually need and wish. It may not appear like you thought, it may not be all shiny and flashy, nevertheless it’s going to be the suitable match. And it’ll work should you don’t quit. 

And it’s important to undergo the method of that — studying, issues failing, errors, not understanding — to get an increasing number of clear and an increasing number of prepared for the precise factor that would be the proper deal and match for you long run.

—————————————————-

This episode of Fairly Huge Deal featured Brittney Castro, founding father of Brittney Castro Inc. It was produced by Meghan Barr and edited by Xavier Leong. If in case you have a reasonably large deal to inform us about, write in to PrettyBigDeal@zoominfo.com. In any other case, we’ll see you on the subsequent episode.