Financial Goddess offers business consultancy and business management services to businesses. Margaret Milutinovic is the founder of Financial Goddess and she has many years of experience in business management.
Recently I had the opportunity to interview her regarding her success as a woman entrepreneur including the challenges she faced. Here is the interview we had which will be an inspiration for you.
1.Hello! Can you please tell us about yourself?
Hello! My name is Margaret Milutinovic and I am a Business Owner of Financial Goddess. I hold Masters’ Degree in Commerce, majoring in Professional Accounting. I am also a Fellow of Institute of Public Accountants in Australia and Fellow Financial Accountants in UK. I have over 15 years of experience working in senior executive roles, which include Finance, HR, Operations, IT and General Management for Australian as well as multinational companies. I also have many years’ experience working in senior roles in public practice. My unique blend of experience gives me an edge in helping businesses succeed unlike others. At Financial Goddess we offer services such as Virtual CFO, Business Consultancy and Business Coaching.
Our clients trust our approach because they recognize the real value, the edge such unique experience offers them
2. Why did you decide to start Financial Goddess? What inspired you?
Through my journey of over 15years I have discovered that my main passion is helping business owners and directors succeed. I have learnt that many share my passion to see their business succeed but often they lack skill sets in finance, tax, legal compliance, process improvement and labour laws to name a few key aspects. I have also come across heartache of many business owners falling victim to great sales pitch, ridiculously high fees of over confident individuals, who lack the qualifications or experience to really make a difference and often they don’t care and are quite reckless advising on latest hype without understanding of the laws governing the business or advising of risks involved.
So I decided to start my own business and offer real help and support to those that need it at affordable prices. As a result I founded Financial Goddess.
3. How do you think Financial Goddess is helpful for its clients, specially for Small and medium-sized enterprises (SMEs)?
At Financial Goddess, we offer Business Management and Business Consultancy services for businesses. Financial Goddess’s services are extremely helpful for SMEs and multi-million dollar businesses in different aspects.
Our virtual CFO Service is extremely beneficial for enterprises, who need a Global Finance Expert but can’t afford one in house full time, or they don’t know how to hire a good one and hence ends up being a costly mistake. These are high paid roles and most directors don’t have the solid Finance understanding to truly test the knowledge and skills of the individuals that they are hiring, the mess left behind is often what we end up fixing.
As a Virtual CFO, we help to identify the problems of any business which stops profits. We assist with setting KPIs, finance policies, monitoring and setting cash flows, reviewing monthly management reports and providing recommendations etc. All these are essential for any business’s growth.
We can also help our clients with the hiring process of Finance team members, being Finance experts we know what to ask.
As many SME’s struggle with lack of professional and well experienced staff, they can contact us for such services.
This is where we can help any business with our Business Management services.
We customize our solutions and consultancy services for individual businesses after studying the type of business, it’s size and strategies.
From start-ups to exit strategies, we help businesses achieve the results that they are after.
4. Did you face any difficulties or challenges when you decide to launch Financial Goddess? As a female entrepreneur, how did you face the challenges?
Launching a business itself is a challenge. It needs lot of planning, goal setting and strategies. I spend more time analyzing the market and identifying the areas where we can be successful. Although this whole process was a challenge, I could overcome all these with proper planning and goal setting.
The Finance and Business Industry is male dominated, however men and women have a different approach. I decided to own that and to turn it into an advantage.
I am passionate about helping businesses succeed. I take my time to understand my clients’ passion and join them on that journey. I am their trusted advisor, their supporter and their fan. I celebrate their successes with them and lift them up in times of need.
I recognize, it’s a unique approach to working with clients, one that may take some time for some people to get use to and that’s OK. I find that clients from creative industries such as architects, designers etc. love my “outside the box thinking” and down to earth approach as well as those working in healthcare, education and community based sectors.
The saying “I may not be everyone’s cup of tea, but I much rather be someone’s shot of tequila” sums it up well.
5. As a Female Entrepreneur, would you like to share some advice for others who want to become entrepreneurs?
Don’t let anyone tell you what you can and cannot do. If you have an idea, firstly do some research to identify whether there is a demand for your product or service.
Secondly, don’t try to be like anyone else. If you do, you will just become part of the ‘white noise’. Find your uniqueness and own it. If you have done your research and identified the demand you will succeed.
Thirdly, identify who your target audience is and find a way to reach out to them and let them know your UVP (Unique Value Proposition). Online presence should be part of that strategy.
Fourthly, set your prices right. If your prices are too high, you will limit your reach. If they are too low, you may come across as an amateur in your field. There is an exception to this rule, however. If you are introducing a brand new product, in order for people to be willing to try it, you should have relatively low introductory offer, it minimizes the perceived risk and you will more likely get people to buy it and to try it.
Also focus on your values first, not financial gains. Be in it, for the right reasons. Ask yourself, how will my product or service help others?
Finally, always look for ways to improve and stay on top of your industries changes.
Becoming an entrepreneur can be a challenging experience. You will need to wear many hats. As a business owner you are responsible for every aspect of your business and naturally you won’t be an expert in all of it. That’s when Financial Goddess services can elevate your stress and help you to succeed.
You can connect with Margaret Milutinovic and Financial Goddess by visiting their website and social media platforms.
Also read: Interview with Karim Mokhtar