In 2016, Founder and Chief Executive Officer of Design Your Wealth, Nicole Barham, was in bankruptcy court for being unable to manage her personal finances. Now, she makes more than $100,000 in sales in a single quarter while helping other female entrepreneurs avoid the financial mistakes that she has made.
Barham’s membership program, 5 Minute Bookkeeper, was built to give female entrepreneurs the tools and community to succeed in business. The program’s name is derived from Barham’s belief that business owners can stay on top of income goals, create budgets, and meet tax deadlines in just five minutes a day. The program provides an app that includes finance tracking tools, support, and tips specially catered to female entrepreneurs who want to grow their businesses. Additionally, included in the program are weekly “Money Dates,” co-working sessions for reviewing members’ finances.
Barham began her business as a side hustle while she worked as an accountant. She said that she used her first few clients to test and tweak her business model until she was able to quit her job. Through her clients at Design Your Wealth, Barham learned that female entrepreneurs fail due to complicated tools and limited accountability. Barham compares learning financial literacy to a gym membership and refers to herself as a “personal trainer for money.”
“I wanted to ensure my clients get the results they desire,” Barham told Time Magazine. “I saw myself in them. I had been in their shoes and knew that I had the expertise and tools to help them.”
Barham added that financial literacy is a necessary skill for everyone, so her services are constantly in high demand. She told Time that she made more in one month with Design Your Wealth than she would have made in a year at her former job.