We had the good fortune of connecting with Star Melancon and we’ve shared our conversation below.
Hi Star, is there something you believe many others might not?
One piece of conventional advice I disagree with is the general sentiment that people should pay off all debt before investing in the stock market. Of course if you have any particularly “expensive debt” you should absolutely work diligently to pay it off. However, I believe that everyone should begin sowing a seed in the stock market as early as possible. Pay off debt and invest simultaneously.
What should our readers know about your business?
Tell us more about your business, what sets you apart from others? SHEbuildingHER is a financial consulting agency. We help women transition from “making money” to building sustainable wealth. Our primary focus is long term stock market investments and healing ones relationship with money. Our perspective sets us apart. Many financial institutions create experiences and tools with the assumption that everyone knows something about investing. We don’t. We create our experiences and resources with the assumption that you are brand new to the idea of how money works and investments. We simplify concepts, arming women with knowledge and therefore confidence. This creates a safe, judgment free space for women to begin exploring the stock market as a wealth building tool.
How did you get to where you are today business-wise. Was it easy? If not, how did you overcome the challenges?
My story began in corporate America. I’m a degreed biopharmaceutical microbiologist. While in corporate, I was one of few women and the only black person in my department. My colleagues often had open conversations about investing and I had no idea what they were talking about. They were my friends so they often explained concepts to me when I asked. However, my lack of knowledge left me feeling inferior and undeserving of the position I held. We didn’t talk about money, wealth, or investing in my childhood home therefore I became an adult with little knowledge of personal finance. I realized that while my colleagues and I were “equal” on paper, they used their earnings to build wealth while I was just “making money”. After years on my self esteem taking a beating I decided to go on a journey of learning about money. That journey ultimately lead to me to leaving corporate America to pursue my calling to teach women what I had learned and share my financial transformation testimony. It hasn’t been easy but it has been very much worth it. Business ownership is hard but having solid mentors, coaches, and business besties makes the process easier.
What are you most proud of or excited about?
SHEbuildingHER created 102 new women stock investors in 2020, who collectively added $612k to their retirement accounts. In 2021 SHEbuildingHER helped 17 women create and implement passive $1M investment strategies for retirement. Of the 17 women, 14 were mothers who we also helped create investment strategies for their children. I’m excited to continue to grow SHEbuildingHER and significantly impact women’s lives and financial trajectories in 2022.
What are the lessons you’ve learned along the way? What do you want the world to know about you or your brand and story?
I’d like to reassure women that they are not crazy to feel as though personal finance and investing is overwhelming. It is. The systems, the language, the tools, were not created with us in mind. Traditional media and social media doesn’t make it any better with the constant barrage of information and threat of FOMO. Most of us are natural over-thinkers. We want to make the “right decision”, do things “perfectly”, learn all there is to know about the subject, etc. All the above elements create analysis paralysis. My advice- find 1-2 sources of finance and investment info you connect with on a logical and emotional level, and jump in. There is no perfect time, perfect method, perfect outcome. There’s just you, the relationship you have with yourself and your money, and your desire and will to grow wealthier for whatever reason that matters to you. I am walking and living proof that you can do it.
Let’s say your best friend was visiting the area and you wanted to show them the best time ever. Where would you take them? Give us a little itinerary – say it was a week long trip, where would you eat, drink, visit, hang out, etc.
I like good food and history so we’d likely visit various restaurants, landmarks and museums.
Shoutout is all about shouting out others who you feel deserve additional recognition and exposure. Who would you like to shoutout?
Felicia Traylor- insurance strategist and my mother. She introduced me to entrepreneurship at an early age. Felicia also introduced me to the concept of using insurance as a wealth building tool which was the catalyst to my journey into understanding money and how it works. That journey lead me to the stock market and ultimately to create my company, SHEbuildingHER, which helps women understand money and the stock market.
Kristi Jackson Muhammad- founder of Women CEO Project, business coach, and marketing expert. Kristi was / is pivotal in my growth as a business owner. She helped me turn my calling to teach women about money into a thriving business. Over the years she’s not only been my business coach, but a mentor who teaches me about traditional business as well as positioning myself for online sales and marketing.
Instagram: @shebuildingher_ca or https://www.instagram.com/shebuildingher_ca/
Linkedin: Star Melancon or https://www.linkedin.com/in/starmelancon/
Facebook: @shebuildingher or https://www.facebook.com/shebuildingher
Youtube: SHEbuildingHER or https://www.youtube.com/channel/UC1djo9TW52ajGqRaMsEQwIQ/videos
Other: Tik Tok: @shebuildingher