Author of “Fed Up: An Insider’s Take on Why the Federal Reserve is Bad for America”, Danielle DiMartino Booth is on a mission to spread financial literacy one reader at a time. As President of Money Strong, LLC., Danielle offers a unique perspective to audiences seeking expertise in the financial markets, the economy, and the intersection of central banking and politics. She spent nine years as an Advisor on monetary policy to Dallas Federal Reserve, President Richard W. Fisher.
Danielle began her career in New York at Credit Suisse and Donaldson, Lufkin & Jenrette where she worked in the fixed income, public equity and private equity markets. Danielle earned her BBA as a College of Business Scholar at the University of Texas at San Antonio. She holds an MBA in Finance and International Business from the University of Texas at Austin and an MS in Journalism from Columbia University.
What motivated and inspired you to start your own business?
Upon leaving Wall Street I was afforded the luxury of intellectual honesty for the first time. When the time came to retire from the Fed, I could not conceive doing anything other than sharing my knowledge with a broader public audience, hence the origins of Money Strong.
Tell us about your business.
Money Strong is an economic consultancy that revolves first and foremost around a weekly newsletter published Wednesdays that reaches anywhere from 25,000-100,000 readers in a given week. In addition, I have become a visible voice in the media speaking truths few on Wall Street would dare. I consult directly with many financial firms to help them find their way in a world of cross currents muddled by nearly three decades of overly intrusive central bankers.
- My book “Fed Up” has risen as high as #22 on Amazon’s Best Seller worldwide list and is currently in its 5th production run.
- I was ranked the 3rd highest Top Voice in Finance & Economics of 2016 by LinkedIn where I have over 50,000 followers.
- I was one of youngest members of Chairman’s Club at DLJ and top of my class of 1996.
- I received numerous awards while serving at the Federal Reserve and have become a highly in-demand speaker.
Where is your business based?
Dallas, Texas predominantly, but also in New York at least once a month.
What were the first few steps you took to get your business up and running?
I vowed to publish the very week after leaving the Fed in June 2015 and make my debut appearance on CNBC and Bloomberg that same week, which I did. I have yet to miss a single week publishing since and have found that the constancy and consistency have been crucial to garnering a loyal following.
What has been the most effective way of raising awareness of your business and getting new customers
My weekly presence has, as I mentioned, been key. The publication of Fed Up and the media effort that has followed have raised visibility and secured speaking engagements as a result.
What have been your biggest challenges so far?
Being an outside voice that often clashes with conventional wisdom has produced its unique set of challenges. It started in earnest inside the Fed but has certainly continued since Money Strong was founded. Being a woman with such a strong voice presents a separate challenge in and of itself.
How did you overcome these challenges?
I view the word ‘no’ as a non-negative and move on. I am the most perseverant, tenacious person I know with the knowledge that my best advocate will always be me.
How do you keep motivated through difficult times?
- Personal resolve is first and foremost.
- Then it’s family, friends and fans.
- Voices of encouragement never fail to prop up my spirits as well.
How do you distinguish yourself from your competitors?
My writing style is beyond unique, not my words. Most importantly, I am approachable by the layperson. Clouding economics in complexities has landed our country in a world of hurt in terms of financial literacy and long-term competitiveness. I break down those verbal barriers inviting one and all in, which is welcomed with open arms, especially with women who most men would rather keep on the outside of their worlds of economics and finance.
What is the best advice you have received recently?
It’s cliché, but every seeming impossibility simply needs to be viewed from a different angle to be conquered.
What advice would you give to other entrepreneurs?
Be prepared for the worst job of your life. You will work harder than you ever have when you answer to yourself and only yourself. If you have issues, take them up with the management by taking a hard look in the mirror. FIRE those you’ve hired QUICKLY if they fail to live up to your well-communicated shared goals. You have only yourself to blame for keeping dead wood on the payroll.
What are your favorite business tools/resources and why?
- Two screens make me that much more capable of considering multiple variables when I’m writing.
- And my goddess of a website director keeps me on an even keel.
- My book publicist is equally critical to my success and keeping me in the public purview.
What is a good article or book you have read recently?
“The Goldfinch” – a novel of all things that speaks beautifully of our capabilities in the face of adversity.
What are you currently learning about for your business or looking for help with?
I am coming up on my two-year anniversary, which I promised myself would mark the end of the newsletter being gratis. I am bringing in a firm that’s never worked with anyone, but has a strong platform and 30 years of experience knowing I cannot go at it alone. Recognizing limitations is huge to maintaining forward momentum.
What are your goals for the next few months and how are you striving to achieve them?
I am looking to launch the book to an even broader audience with a fresh media push the publisher has authorized, thanks to the book’s success. Taking the newsletter to a subscription model will also test my constitution and ego as it will involve an abundance of rejection from readers I had hoped would be willing to pay to continue reading.
What social media outlets do you use? List them below.