Subscribe to Entrepreneur for $5
Subscribe

How to Create Your Path to Profit

Financial expert and author Michelle Jacobik is on a mission to help people be profitable, so she created the EnVision + Thrive Academy. She shares her journey to success, business tips and what you'll learn in her new book.

By
Opinions expressed by Entrepreneur contributors are their own.

Financial expert Michelle Jacobik created the EnVision + Thrive Academy to help entrepreneurs looking to create a vision for their business, generate revenue and gain visibility. Knowing how hard it can be to be on the winning side of business, she recently launched a new product, the EnVision + Thrive Oracle Deck, which is a series of cards designed to keep entrepreneurs inspired along their journey. Jacobik is also the author of Prosperity After Divorce and has a new book coming out this fall called The Path to Profits. She sat down with Jessica Abo to share how you can create your own path to financial freedom.

Related: How One Company Is Creating a New Financial System to Help Today's Workforce

Michelle, what inspired you to become a financial expert?

In my 20s, I was working as an administrative assistant making $11 an hour, but I was spending as though I was earning $75 an hour. The irony was that I was making these mistakes while I was working for a financial-services firm on my way to becoming a financial advisor. So, here I was, becoming a financial advisor and spending money that I didn't have, and I got myself into some pretty serious debt. Once I saw my own mistakes and how I was handling my money, I got myself back on the right track, and I became even more inspired to help other people do the same.

How did you go from running a company making $12 million in sales to creating your Academy?

I created the EnVision + Thrive Academy out of a desire to mentor others. After I retired from my own insurance practice in 2013, I took my 25 years of risk-management expertise, tax and financial background and insights from being a serial entrepreneur, and I started supporting others with building and scaling their profitable businesses. Then Covid happened and my consulting practice was full. I couldn't take on any more one-on-one clients, and yet entrepreneurs needed leadership and guidance more than ever in order to keep their doors open. I knew that I wanted to be a support to help them figure that out, so I opened the academy.



That's where I have an opportunity to support them as a group, on a weekly basis. It's given me the space to teach and mentor those who need a direction on how to pivot and grow, in spite of these new challenges, while at the same time hosting them in a positive, high-vibe business incubator. It's honestly become this thriving community, where entrepreneurs make meaningful connections, and I'm watching these great collaborations happen, in addition to getting their business-building questions answered from myself as well as other leading experts.



You say there are five things everyone should keep in mind in business. What are they?

The five things that everyone should keep in mind are this: First, don't start with your passion and not have a plan. Have a roadmap and a runway. Make sure that you're looking at the money. Don't avoid it. This isn't the place to put your head in the sand. Get really clear about your vision, personal, lifestyle and your business vision and your goals. Lastly, remember the importance of community and having a positive support tribe around you. This entrepreneur journey is not for the faint of heart, and we want to make sure that you've got positive people surrounding you and in your front row.

I know in addition to creating a business community, you’re also passionate about giving back. Tell us how philanthropy plays a role in your life.

I believe we all have opportunities to use our businesses for good. Sometimes that's us donating our time. Sometimes that's us giving our treasure and sometimes that's using our talents. So, for me, during United Way Day Of Giving at our local food bank with my employees, I became more aware of the food-insecurity issues in our community. As a leader that day, it gave me space to ask questions like: What else do I not know? I learned that EBT cards don't cover diapers and wipes or feminine-hygiene products. We started, after that day, leading an annual diaper drive in our community, using our business as a drop-off point, collecting diapers and wipes to help out.



Today, 15 years later, I'm still doing that, donating profits from my workshops, gathering donations and, more importantly, using my social influence online so that I can continue to educate others about this void; so that they too might do something similar in their own communities. It's so much bigger than one person. It also inspires other people to ask their own questions and to see if they can find a way to make a difference and cast a wider net with the influence of their business inside of their communities or in the world at large.

Related: How a Blockchain Company Is Harnessing NFTs to Promote Social Good

You have shared so much advice, and I’m excited to read your book when it comes out in the fall. Can you share what readers will find inside The Path to Profits?

I'm going to reveal so many things in this book. I believe we should be building businesses that are profitable in support of our life, not at the expense of it. I'm going to share with the readers why a powerful vision for your life is the most important tool for shaping and growing your business. I'm going to walk them through my vision, plus flow, plus grow method for creating that profitable business structure, while actually supporting and enjoying their one precious life.

Latest

4 Things to Do When You're in a Negotiation

The executive director and CEO of WIN Summit shares her advice for entrepreneurs looking to elevate their negotiation skills.

Matt Horn on Finding Purpose in Family and Flames

In-depth interview with CEO, pitmaster, and James Beard Award Nominee Matt Horn about growing his global food brand with social media, operating multiple restaurant concepts, and why he decided to "burn the boats."

This Entrepreneur Believes the 9-to-5 Work Week Is Dead. So She Created a Platform That Matches Talent With Project-Based Work.

The founder of NuuWork shares how her company will help people navigate the future of project-based employment.

How This Company Is Helping Ecommerce Brands Scale and Grow

The co-founder of 8fig shares how his platform is helping online sellers plan and execute their growth around their supply-chain needs.

Eitan Bernath on Becoming a Teenage Food Entrepreneur and Social Media Star

In-depth interview with cookbook author, food personality, and content creator Eitan Bernath about starting an entertainment career as a child, teaming up with Drew Barrymore, and building an inspirational business empire before his 20th birthday.

Ask Marc: Netflix Co-Founder Marc Randolph on Facing Challenges, Bringing on Co-Founders and Growth

In this episode of our new series 'Ask Marc,' the serial entrepreneur and mentor offers advice on how to get started.

3 Science-Backed Ways to Break Bad Habits

Become powerfully productive with these three patterns.

Meet the Co-Founders Making Conscious Shopping Easier

Goodbuy's Cara Oppenheimer and Cary Telander Fortin share how their browser extension helps consumers buy products with both their wallets and values front of mind.

Nina Manchev of Forte Tapas on Engaging Customers with Social Video

Interview with Forte Tapas owner and entrepreneur Nina Manchev about connecting with social media, learning to be confident on video, and appearing on Diners, Drive-ins, and Dives.

This CEO Believes We Need More Women In Crypto

Jaime Leverton, head of NASDAQ-listed Hut 8 Mining Corp., talks the future of digital currency with 'Entrepreneur.'

How to Create Your Path to Profit

Financial expert and author Michelle Jacobik is on a mission to help people be profitable, so she created the EnVision + Thrive Academy. She shares her journey to success, business tips and what you'll learn in her new book.

Toast CEO Chris Comparato on Why Restaurants Need a Tech Partner That Cares

Interview with Toast CEO Chris Comparato about leading with the customer in mind, having a digital-first mentality, and how technology like Toast is helping restaurants thrive.

The Science of Visualization: Maximizing Your Brain's Potential

In this video, we discuss why visualization is so effective and offer four tips to harness it.

How One Company Is Creating a New Financial System to Help Today's Workforce

The founder and CEO of DailyPay shares how his company is creating a new financial system to help today's employees get paid faster.

Ask Marc: Netflix Co-Founder Marc Randolph on Staying Motivated, Morning Routines and Setting Priorities

In this new installment of our 'Ask Marc!' video series, Marc Randolph offers inspiration and insights to new entrepreneurs.

Discover Entrepreneur Series

Whether you need advice on how to get your business off the ground or you’re just looking for inspiration, our video series have something for everyone. Browse our library below to find a series that speaks to you and your interests.

  • An original series streaming weekly where you can Click-to-Invest while you watch. THEIR JOURNEY. Your decision.
  • Your favorite pitch show is back with new entrepreneurs pitching Entrepreneur's investors.
  • Host Nicole Walters interviews small business founders to discuss their unique challenges and experiences running and growing a business. 
  • How many times have you been told “that will never work”? Probably not as often as Netflix co-founder Marc Randolph. The veteran Silicon Valley entrepreneur provides a healthy dose of humor, and actionable advice that will benefit founders - and would-be founders - at every stage of their business journey.
  • Jessica Abo covers the causes people care about, the powerful work they do and how they got to where they are in the first place.
  • Bestselling author, Ben Angel, takes his audience on a journey into the entrepreneurial mind to uncover why we do what we do through his powerful short films and educational videos so you can unleash your ideas and potential.