NEW YORK (TheStreet) -- The greatest good we can do for others is not to share our own riches with them, but to reveal theirs. -- This saw is a key mission of Empiry.
Financial Coach Ashley M. Fox, 25, holds a Series 63, Series 7, as well as real estate and life insurance & annuities licenses. Although she loved it, Fox says she quit her lucrative job at JPMorgan Chase (JPM) to start Empify -- a combination of empower and modify, headquartered in Philadelphia.
After helping manage clients who each had no less than $25 million in assets while at JPMorgan Chase, Ashley says she now focuses on helping others build wealth and achieve financial independence. Her target audience is people who make less than $250,000 a year.
TheStreet caught up with Fox to get some tips on how to have start-up success.
1. Focus on your vision, because only you can see it.
2. Develop mental toughness to face obstacles.
3. Stop tinkering with your business plan. "Some people plan and plan and still do nothing," says Fox. It is OK to start a business and modify your business plan as you get new ideas. Just start the business.
Fox says she is not against creating business plans, and even has one herself. Because "you need something on paper to show investors."
She just encourages people to act on the vision, and let the plans evolve.
Another key tool to starting a business is understanding that when you have business, people don't buy what you do...they buy why you do it, she says.
The Empify Web site should be up and running at the end of the second quarter.
Check out part 2 of the video above and click here for part 1.