Dave Lukas Chats with Tori Dunlap
164: Proof of How Important Financial Education is with the $100k Millennial, Tori Dunlap
This week’s Misfit Entrepreneur is Tori Dunlap. Tori is the millennial founder of HerFirst100k.com – a company dedicated to giving millennial women financial and career advice to help them succeed…and sock away their first 100k. And Tori is proof that it is possible, she’s not even 25 and is on track to save more than $100k before then.
Tori’s been featured everywhere from CNBC, MarketWatch, Business Insider, to Yahoo Finance. She started her first business at 9, no joke – a vending machine business that she grew to over 15 vending machines which taught her how to save, invest, and negotiate.
What I love about Tori is that she has built this business, while at the same time working a full-time position as head of marketing at a global security company – because she likes what she does. She is a great example of how to build your business or side hustle while still succeeding in the corporate space – and that is just one of the things I want to speak with her about in this episode.
Tori says she was lucky to have a great financial education growing up. Her father came home one day with a vending machine he had got from one of his clients and asked her if she wanted to start a business. She said yes. She learned how to run a business, P&L, checking and savings, writing checks, how to pitch herself, starting at 9 years old. She used the profits from her vending business to fund her college.
Tori ran the business and grew it to 15 vending machines by the time she was a junior in college and ended up selling it to a 10-year like her that wanted to do the same things.
Tori has a degree in organization communication and theatre. She works in marketing, but never thought she would be teaching and promoting financial literacy to millennial women.
She thought everyone had at least some base financial knowledge. It wasn’t the case. In fact, Tori was the one all of her friends came to for money advice. So she started a blog in late 2016 on how to manage your money and career for millennials. This led to HerFirst100k.com
What are the biggest lessons you learned in building the vending machine business that you use to succeed today?
At the 14 min mark, Tori talks about building her business while working full time…
Tell us about HerFirst100k.com
Why don’t we teach financial education in schools?
Tell us about your unique budgeting method…
Best negotiating tips?
One of the best places you can negotiate is on your recurring bills. Phone, insurance, credit card, cable, etc. can all be negotiated.
At the 37 min mark, Tori shares how she gets clients without spending anything on paid advertising
Other marketing secrets?
Best advice for an entrepreneur starting out today?
You need to find your “why.” You do this by following your passion and your curiosity. You must have a personal stake in what you are doing. You must deeply care about the mission.
“You need to find your “why.” You do this by following your passion and your curiosity. You must have a personal stake in what you are doing. You must deeply care about the mission.”
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