Ellie


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Ellie is an American entrepreneur. Ellie started Money Therapy in 2017 and is based in Washington, DC.[1]

Ellie,  of Money Therapy Ellie, of Money Therapy

Company

Money Therapy

Instagram

@moneythearpyco

Career

Early Career

No early career info added yet...

Money Therapy

Ellie started Money Therapy in 2017. They detail the beginnings of their company in their Starter Story interview: [1]

Q: How did you get started on Money Therapy ?

I started Money Therapy as an accident!

My background was in finance. I worked for a top financial company and then moved to DC working for a finance startup.

My ultimate goal was to start a company. So, when I quit my job in finance and started a company called Venyou, I realized the financial skills I had acquired during my finance years were invaluable. Instead of guestimating my monthly expenses, I knew what they were going to be down to the penny. Instead of spending money I didn’t have, I created a barter system with friends to keep costs down. Instead of being anxious in investor meetings, I was able to walk in with confidence and discuss how my company was going to seek profitability in a specific time frame and how much money was needed to do that. In fact, my finance skills kept my company afloat where others may have failed.

There are so many brilliant ideas and talented founders but if you don’t know anything about money, your chances of your business failing are nearly 100%.

Other founders heard about my finance background and were approaching me about how to best manage their money. They would ask me questions like; “What insurance can I afford? What business systems do I need to pay for? How do I pay my rent and my developers? Should I be investing and how much?”

I did this pretty regularly for free but once I gave a speech on finance for founders during startup week, the inquiries exploded. Startup week, for those who are not aware, is a week long event where founders and those supporting the startup ecosystem give speeches and network with each other. I highly recommend attending if you aren’t quite sure what you want to start/aren’t aware how you are going to do it.

After my speech, I no longer could sit with people for free, I knew I had to make Money Therapy a real business.

At first, Money Therapy was just word of mouth. One founder would recommend another founder and then those individuals would recommend their friends in normal 9-5 jobs. I expanded my services to include everything under the sun. If you had a financial question about it, I could answer it.

Now, I’m in such a cool space with the business. My clients range from 19-55 and I have helped them invest over $500,000 and pay down over $200,000 worth of debt. Those numbers motivate me.

Source [1]

References

Contributors

Contributors to this article:

  • Pat Walls, Founder @ Starter Story
  • Wiki Updater