Show 13 - Edupreneurship: Empowering Educators with Erica Terry

Erica and I discuss the huge benefits of edupreneurship and how to empower our children financially as well.

10/19/20231 min read

woman in black dress sitting on chair
woman in black dress sitting on chair

Teachers can take greater control of their lives with one simple step--becoming an edu-preneur. What is an edupreneur? Edupreneurs are teacher-entrepreneurs dedicated to empowering teachers with business, and they want teachers to stay in the classroom! Erica Terry and I discuss the benefits of becoming a edu-preneur, how teachers are actually ideal business owners, and how to get started. Here are some key ideas from our conversation:

Key Ideas

  • The skills you use in the classroom, such as customer service and management, transfer to entrepreneurship.

  • As a business owner, you get way more tax write-offs than as a teacher. Erica’s favorite is that when she goes to an education conference she can write that off (and count it toward professional development).

  • Erica hires her daughter to work for her business. This allows her to:

    • Reduce her own tax bill

    • Pay her child for productivity and teach her about business

    • And start funding her child’s retirement accounts early to get the effects of compound interest.

  • If you want to be an entrepreneur, but don’t know where to start, you need to identify your “zone of genius”. This is a business idea where your expertise and how much you love doing it meet. That way you won’t burn out!
    Lastly, if you aren’t sure when you’ll find the time, Erica says that she built her business using one hour a day. The first hour of the week was her “CEO success hour” where she made a plan on how to use the other six hours for her business, and now she is knocking it out of the park, and you can too!

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