When we developed the idea for Namastream, our mission was to build a company that we could leverage to create a wave of empowerment for other women. We left long careers to pursue online entrepreneurship because so much of what we had witnessed and experienced in our work worlds didn’t feel like it was working for us. As working moms with a vision for the financial freedom and flexibility we wanted to create with our own careers, we felt called to take the leap into entrepreneurship.
Today, we’re actively focused on helping other business owners replicate our model. We’re fascinated by the power of individuals in the tech community who have a disproportionate amount of say as to what is created in the world. We never planned to enter the tech world, but we were drawn to the industry because of its immense power to make a difference; because we believe that technical prowess is a proxy for money, we think it’s important to invest time in learning those skills.
With Namastream, we created a software platform to empower entrepreneurs around the world to launch and grow online businesses that feel resilient during turbulent times. While we didn’t anticipate the speed of today’s economic disruption, we have spent years building a supportive business model for our own financial futures that we hope other entrepreneurs can learn from, too. We believe that other aspiring entrepreneurs can see themselves in our journey and we are committed to sharing our learnings with the world.
Below are a few of our favorite lessons over the years…
Take the Leap, There is No Right Way to Build a Business: Currently, the jobs industry has been shaken up and many people are considering ways to create additional revenue streams; necessity is the mother of invention and adaption. The new economy recognizes that people and their careers can be multidimensional. There is no one right way to build a business. Smart, conscious businesses that add meaning to the world feel like they have an even greater potential to make an impact at this time.
Master Your Money Mindset: Understanding and conquering your fears around money and how they can hold you back is foundational as an entrepreneur. When developing Namastream, we realized that no one talks about the story of how building a business is possible without substantial investment. Yet sustainable and scalable growth means maintaining ownership of what you create as a business owner and ultimately, this means financial freedom. Five years into our business, this mindset of achieving financial freedom has proven invaluable as we make tough, but key choices every day to not pursue intensive growth.
Know Your Numbers: The common problem of women not having their own money (and therefore little agency) is a touchpoint for us and a driver of our mission. Sandy and I both experienced financial strain growing up that has left a lasting impact on our lives. We’ve always been hard workers who have learned over the years how important it is to advocate for financial freedom. In the wellness industry, we often see that many business owners in their quest to be altruistic, lower the bar for others by setting prices too low. In tough times, these are prevailing beliefs that can be detrimental to setting your business up for future success. Women need to become investors and the only way to do so is by having liquidity and wealth which is why having a side hustle or any kind of an additional revenue stream is so important. Knowing your numbers is foundational to being a responsible entrepreneur.
What You Focus on Grows: Building a business based on your passion is the highest form of service to the world in our opinion. We’ve noticed that many people feel like it is indulgent to create a business specifically driven by their passion. Many people convince themselves to stop wanting something when they want it so badly. It’s human nature to look for the evidence to prove your thoughts true. We challenge our users to disrupt this way of thinking and trust that what they focus on will grow.
Embrace the Highs and Lows: The need for our company is growing based on changes taking place in the world and we’re inspired to do the work with the development of Namastream after watching so many of our users hustle to maintain a livelihood. Resiliency can take different forms. For us, part of that means we are constantly balancing yoga, health and wellness with technology. This means giving ourselves the grace to be a part of both spaces where we are constantly learning. This means we can innovate in a way that has not been done before.
Consider Your Impact: When we think about the future, we feel it’s imperative to discuss the concept of a new economy: the way we are used to living, earning, and spending as humans will never be the same. As you embark on your entrepreneurial journey, consider the global economy and where can you have the best positive impact and least negative impact. As a business founder, it’s your responsibility to examine the long term impact your company can have on the world this year, next year, and ten years from now. Build a business that aligns with your values and adds something meaningful to the world.
Find Your Community: We’re continuously iterating upon the educational tools and resources we offer to our community to create a support system that helps our users bring their businesses online quickly. One of the newest aspects of our business we’re excited about right now is Namastream’s The Inner Circle Experience. The Inner Circle Experience is a hands-on, one-year intensive program that guides wellness practitioners through the process of accelerating the growth of their online business. It’s the highest level of Namastream’s training offerings, and it includes strategy & mindset coaching, critique calls, marketing and tech courses, and all of the tools needed for keeping a business on track and organized. It’s our hope that by working with a small group of entrepreneurs very hands-on throughout the year, we will be able to make a target impacted and nurture aspiring entrepreneurs that could benefit most from our support. Whether it’s our Namastream community or another, find the change-makers whose journey inspires, supports, and challenges you the most.
Stay in Touch: We host a weekly podcast series, called And She Spoke, where we speak to different female entrepreneurs about money, mindset, and meaningful work. Check out our website www.namastream.com and our Instagram @namastream