Today we’d like to introduce you to Khloe Karova.
Khloe, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
Modern Capital Concepts is a financial planning and investment management firm. Before founding my company, I spent ten years in equity trading at Lehman Brothers. After Lehman Brothers collapsed, I spent a year contemplating next steps and realized what I am most passionate about is helping others pursue their life goals through financial planning. I asked my friends and former co-workers if they could see me being successful as a financial planner. Overwhelmingly, they said “yes.”
Encouragement from friends made it less intimidating starting a business, but it wasn’t easy. To promote my business, I did everything from going door-to-door, giving seminars at the public library, renting tents at farmers’ markets and showing up at countless networking events.
Today, my business is thriving and growing mostly through referrals. I am a frequent speaker on investments and entrepreneurship at Chicago-area universities and corporations. Most importantly, I earn a living by doing what I love the most which are making an impact in Logan Square and empowering hundreds of people each year to take control of their financial future.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
There is a surfeit of resources available to entrepreneurs. At first, it wasn’t clear whose advice I should follow. What made some business owners succeed in the past no longer works today. Through trial and error, I was able to figure out my style with prospective clients. For example, for business development, some financial advisors recommended I cold call. Well, I tried that for one day which was possibly the most humiliating two hours of my life. I realized I was more effective face-to-face which is why I decided to go door-to-door in Logan Square. I talked to strangers in restaurants and in the streets. I remember one day, I decided to talk to people as they were leaving Walgreens. Putting myself out there required a high level of confidence and energy, but I realized if people see me doing things that were really hard, they would remember me and I could earn their respect.
Alright – so let’s talk business. Tell us about Modern Capital Concepts, a benefit corporation – what should we know?
Modern Capital Concepts is a financial planning and investment management firm focused on individuals, mostly women, and business owners between the ages of 30 and 60. We are a benefit corporation which means, in addition to maximizing profits, we are mission driven like a non-profit. Our investment style is socially responsible and we plan monthly events to educate individuals on becoming better investors and better plan their future. For business owners, we host a monthly mastermind called the Business Brain Trust to connect business owners with other experienced professionals to grow their business. We also leverage technology to enable clients and busy professionals all over the world to benefit from events remotely. At the heart of our activities are the values of education, empowerment and building community. People can learn more about our events through the Modern Capital Concepts’ Facebook page.
Any shoutouts? Who else deserves credit in this story – who has played a meaningful role?
I had an A-team – a team of attorneys and advisors who helped me launch. After I decided to form a benefit-corporation, I set an aggressive goal of going live within 21 days. What helped me launch quickly was writing a business plan including a Go-Live punch list and circulating it among my A-team. This allowed everyone to know where we were in the process and next steps. Today, I update my business plan monthly and show it to other financial advisors and business owners to exchange best practices.
Contact Info:
- Address: 2055 North Spaulding Avenue
- Website: www.moderncapitalconcepts.com
- Phone: 312.316.8120
- Email: khloe@moderncapitalconcepts.com
- Facebook: http://www.facebook.com/moderncapitalconcepts
- Other: https://www.linkedin.com/in/khloe/
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