#001B Summary Episode - Empowerment with Kerim Derhalli, CEO & Founder of Invstr - ''Take Charge, Make Change'' - a podcast by Ann Hiatt

Hey and welcome back to the Bet On Yourself Podcast with me, Ann Hiatt. This week I'll be walking you through some of the takeaways from the episode we recorded last week with Kerim Derhalli, CEO & Founder of Invstr. This episode was all about empowerment! You can find some notes on the episode below. I really hope you enjoy this one! 

EMPOWERMENT

In the episode with Kerim, we talked about taking your power back and feeling empowered again and there's no better way of doing this than with your financial freedom!

I was surprised to find out and didn't actually know that at the time of recording, 2020 is on track to be the biggest IPO year in history, even since original tech boom - $90 Billion have already been invested. Now this is because of a couple of reasons, the Fed Reserve bought up corporate debt, lowered interest rates and promised to keep them at zero, which has made it hard to make money on bonds (normally considered safer) which has led people to the stock market. The IPO market follows the stock market, which explains this crazy growth.

Invstr teaches you how to invest and gain confidence and take personal responsibility for your financial future, helping you GO FROM ZERO TO HERO of your financial future. They really focus on the education side where you learn about it in the gamification, called Fantasy Finance.

Kerim actually started this company after a traditional career as a banker, he banked for 30 years before deciding to take the big leap. When I asked him what gave him the courage to do that, he explained that he was actually inspired by his dad, who was an immigrant who was willing to risk it all and started his life all over again from zero for what he valued most (you'll have to listen to the full episode for the story!).

Kerim makes a great point in his interview where he encourages us to NEVER MAKE A CAREER CHANGE BECAUSE YOU’RE UNHAPPY, these career changes will hopefully come because you're moving yourself towards happiness, not just motivate by what's making you unhappy.

His inspiration came from the information revolution, right after the 2008 economic crisis, which for him was the right moment to take that entrepreneurial risk. He saw an opportunity to empower people and saw the essential tech needed to do so, being launched in 3 forms: Cloud, social media and mobile, he thought he could harness these in a unique way to empower people towards their financial freedom.

When I asked him about his “Why” he described seeing a lack of Financial sustainability as a major threat to society and one of the ways to solve this problem is not leaving the investing to the “experts”. People need to feel empowered and not afraid of investing.

Finally, Kerim walked us through the steps to planning a business:

1- vision/purpose (seeing a need to be addressed in the world)

2- mission (your role in problem solving)

3- strategy (tools and techniques to create competitive advantage)

4- objectives (how to measure your impact)

FOUR STEPS TO EXECUTE YOUR BUSINESS PLAN:

1- Everything starts with clients (who they are, what their needs are and how you will reach them.)

2- What products and services will I offer them?

3- What systems and people do I need to have in place to achieve this? (PEOPLE ARE KEY!)

4- What will the outcomes look like (proformas, revenues and costs).

If you’d like to connect with Kerim or you’d like to know more about Invstr, you can find him on:

LinkedIn: Kerim Derhalli

Instagram: @Invstr

Twitter: @KDerhalli

You can also direct message him through the Invstr app or alternatively, email him at Kerim.derhalli@invstr.com

Next up: Sal Khan, CEO of Khan Academy - the future of education!

Pivots and scaling with massive growth

300% growth!!

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