[MMYH Ep. 30] Leaving Full-Time Employment To Follow Your Dreams With Kate Dore of Cashville Skyline

by Amanda Abella  - May 9, 2017

Leaving Full-Time Employment To Follow Your Dreams

Who are you?

Kate grew up near Boston and made the move to Nashville after she graduated from the University of Massachusetts. After working as a concert promoter for most of her 20’s, Kate decided she wanted to break away from the long hours and constant travel in search of her dream job.

In her search, Kate landed on online marketing, and she created her blog Cashville Skyline as an extension of that. Social media for her blog came easy to Kate due to her previous career, but she also took the time to take classes involving graphic design and even coding. Kate is the definition of leaving full-time employment to follow your dreams.

 

What made you quit your job and pursue self employment?  

Kate thought she had found her dream job. At 23 she was producing events, traveling on her employers dime, and making money all at the same time. While many people would consider that an easy job, Kate was working 70 to 80-hour work weeks, never really got a day off, and was starting to feel tired and depressed.

Once she decided that her career wasn’t sustainable long-term, Kate felt drawn to online marketing and felt she could make a living doing something she loved. Kate already knew about traditional media buying (print ads, radio spots, etc.), but online marketing was a new and untapped resource during the early days of her website. Kate felt like the online marketing world, especially social media, would be a great way to use her skills and earn money. So she quit her full-time job, started working for Eventbrite part-time, and used the rest of her time to work on her own business.

 

How did you go from leaving full-time employment to follow your dreams with your business?

Kate had picked up clients to help her transition from full-time employment to freelancing. When she was laid off, she went to FinCon to take the opportunity of gaining more clients and learning more about finances. She wanted to become a financial planner, and FinCon became a place for her to really go after her dreams.

 

What made you want to become a financial planner?

Kate attended an event and listened to Alan Moore, who encouraged people to become financial planners while they ran and marketed their websites. Kate knew people needed help with their money, and she loved the one-on-one connection that she could have with them, so financial planning seemed like the next step for her to take.

Kate is learning everything from estate planning to investing, and she wants to help people learn how to create multiple streams of income, save money, and gain the skills they need so they can get out of the vicious cycle of being broke.

 

How can someone start making money from different places?

Kate recommends looking at your current skills and decide what you can use to create a side hustle. Then, decide on a rate that can help you earn money without sacrificing your work, health, or ability to pay your bills. Kate believes anyone can have a side hustle, and recommends hustles like social media, virtual assistant, and freelance writing just to name a few.

Kate’s different income streams include social media consulting, blogging, freelance writing, and affiliate marketing. She’s also created a few of her own courses and makes money from them.

 

What are some important things for you as an entrepreneur?

Kate believes in work-life balance and being location independent. She wants to be able to travel and see family, work whenever she wants and from wherever she wants, and be productive on her own time. She also thinks self-care is important, especially her health and wellness.

A few changes Kate has made since becoming an entrepreneur are hiring a personal trainer, taking (almost) daily walks, and making sure she focuses on proper nutrition. Kate also tries to get an appropriate amount of sleep, and she treats herself from time to time so she doesn’t feel deprived of the simple joys in life. She believes that leaving full-time employment to follow your dreams can help you achieve the quality of life that you want as an entrepreneur.  

 

As someone who is studying for the CFP, what is one financial tip that you have to share?

Kate says that having a budget is one of the most important things you can do for your financial wellness. By creating a budget, you can look for money leaks, learn where to cut back, and how to live frugally while still investing in the items and things that are important to you. To afford her personal trainer and treats, Kate makes small changes in other areas, like driving a used car and living in a cheaper home. She still has a budget, but she makes sure to include things she finds important, and to cut back on things that aren’t.

 

How do you make money your honey?

Kate makes money her honey by investing in her Roth IRA (she has done that since the age of 18) and building her emergency fund. She also doesn’t drive herself crazy by checking her investments every day, and makes sure she is well-diversified. She recommends Vanguard, Betterment, and Fidelity, but also encourages doing your own research and to choose what works best for you. Leaving full-time employment to follow your dreams can be scary, but having an emergency fund and learning to invest for the future can help you go farther in your journey.

 

Where can listeners go to find out more about you?

Resources that are mentioned or add value to this episode:

10 Questions to Ask Every Client Before You Start Working

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