Name: Lydia Richards
Client Since: October 2017
Location: New York
Job Title: Owner, Vino Concierge
Hi Lydia! So tell us. Why did you initially decide to become a Wealth Coaching® client?
No one can do it all and when you need it, ask for help. I realized that more after losing my job and starting my business. While I found a stable job, I had amassed a lot of debt and I was struggling with my finances. I also did not want to be in the same position I found myself in ever again and wanted to make sure I had an emergency fund.
What is your favorite part of your Wealth Coaching® membership?
The Invibed team. I know I can count on Dani and Korrie whenever I any have questions or need advice!
What financial goal have you achieved since starting?
I have started my emergency fund and I have been consistent at setting money aside to it every month.
What goal are you working on now?
I am currently in the process of paying off all of my debts and expect to finish quite soon!
If you’ve struggled with staying motivated, what helped you get back on course?
It is completely natural to feel unmotivated at times. Whenever I feel like that, I try to take a step back and look at the bigger picture, focus on what I’ve accomplished and where I want to go next. If something doesn’t work, try another way. Emotional support and advice from loved ones, family, and friends have also been key.
What would you tell others that are considering Wealth Coaching®?
I would recommend Wealth Coaching® to everyone and anyone in need of financial help. Thanks to the program, I have improved my money-management and budgeting skills. With this new knowledge, I am more confident in my own personal success and that of my business.
The future will always be uncertain, but with the right tools, you are able to better prepare yourself for potential hardships as well as opportunities.
Let's talk about your exciting business and why you started it. Can you briefly walk us through your career path from college graduation to now?
I studied Fashion Business Administration in London and after graduation, I moved to New York where I worked in multiple areas within the fashion and beauty industries, from public relations to publishing.
While fashion will always be a passion of mine, I hit a roadblock in my career and realized that my heart was not in it anymore; which is when I decided to pursue a different industry: wine.
I’d always had a fascination for wine and for a brief time after graduation, I lived in Paris, where I was really introduced to wine and the culture surrounding it. While trying to figuring out my next move, I decided to enroll in sommelier classes and after many (many!) applications, I was offered a position in marketing and public relations for a wine company. But last year, I was let go of my job, which is when I decided to start my own consulting business, Vino Concierge.
Losing your job must have been very difficult. What was that like and what inspired you to start a business?
It was a hard blow and definitely unexpected. While many of my friends and relatives had been through similar experiences and had comforting words for me, I felt frustrated, defeated and that all of the hard work I had invested in my education and career was for nothing.
Looking back, it was certainly a learning experience that I will have with me forever and my two biggest takeaways are: 1) It is not the end of the world, shake it off and keep moving, and 2) Always be prepared for a rainy day or two.
Because I had not prepared myself financially for a situation like this (AKA broke!), I gave myself a very short time to wallow in my self-pity and started applying for jobs. I also started looking for additional ways to earn money using my wine knowledge and public relations skills, and while talking to friends in the wine industry, I decided to invest what I had into creating a company focused on private wine education and at-home tastings for consumers.
Once you found a full-time position, why did you decide to continue your business?
While Vino Concierge started as a side hustle and a way to make “quick money”, it became so much more for me, it’s my baby. It was my light through a rough time and now, seeing it grow is one my biggest priorities.
Do you see yourself running your business full-time one day or keeping it as a side hustle?
No question about it, my goal is to be able to dedicate myself full-time to Vino Concierge in the future.
What is your favorite part of working in PR and what do you love about being an entrepreneur?
My favorite part about PR is that it is all about storytelling, finding creative and clever ways to promote your product or service. You have to constantly reinvent the story given and find compelling angles in order to stay in the minds of your target customers. It is never dull!
Being an entrepreneur, I get to create my own story and control where I take it. It is both excitingly empowering and extremely scary.
What does an average day look like for you?
Long, coffee is key! I wake up, go to work and most days I have events, either for my job or Vino Concierge, as well as networking events; I try to go to as many as possible. Whenever I’m not working an event, I try to go to the gym or do some yoga.
What advice would you give to others considering starting their own business or side hustle?
Just do it! No matter how impossible it may seem at the time, take a breath, do your due diligence and go for it. There is no worse feeling than the “what if”.