New book reveals the joys and struggles of 18 Asian women entrepreneurs
who traveled many different paths to create their best lives
As the enterprising child of immigrants (my Dad was an immigrant, not my Mom- I may need help clearing this up) , Marguerita Cheng earned a degree in finance and spent 14 years as a financial advisor at a large investment firm. But two things always bothered her: the emphasis on assets under management and lack of focus on financial planning. Finally, she decided to launch her own firm to focus on personal finance, helping individuals and families understand their finances, prepare for the unexpected, and have more confidence when it comes to money. Specifically, she wanted to give financial advice—not just investment advice—to younger clients and those from diverse, multicultural backgrounds.
“Some people said, ‘That’s great, Rita, but you’re not going to be successful if you work with people under 50, because nobody under 50 has any money, and people can get advice for free.’ There were a lot of naysayers,” remembers Marguerita, who goes by the nickname Rita. But Rita’s key insight was that there were enough clients to go around. “They can be right, and I can be right. For the people that they are serving, this may not resonate, but there are many people! The glass is half full.”
Because she had faith that her ideas would resonate with the right audience, she launched her business, Blue Ocean Global Wealth, in June 1999. Since then, she says, her financial guidance focus on financial planning has given her clients the confidence they need to accomplish what is important to them.
In addition to skepticism about her business model, Rita also had to overcome the judgment of others—particularly women in her community—about starting a business with two small children, an infant and a three-year-old. She just smiled and responded, “What do you mean? Now I don’t need to stop and try to get pregnant. They’re already here. They’re not going anywhere.” She also readily admits to having to overcome preconceived notions in the marketplace. “I think this is true for every woman, but particularly for Asian women, the other thing that I had to overcome is stereotypes. I was told that I wasn’t going to be successful because I was a horrible salesperson. To my face! The person said, ‘You spend too much time listening and building relationships. You don’t know how to sell.’ But I realized that clients do business with people they like and trust. And if you want people to trust you, you need to take the time to listen.”
Read more about Marguerita Cheng’s journey and what motivates her every day in the inspiring new book Asian Women Who Boss Up, by Tam Luc, the author, educator, and podcaster dedicated to helping women “boss up.” This collection of interviews with highly successful Asian women reveals how they have overcome obstacles and stereotypes, pushed past self-imposed limits, and defied expectations imposed on them by others, often their parents. This book is a master class of entrepreneurial advice and personal development guidance for any woman in search of role models who show that, yes, you can live the life of your dreams.
Marguerita Cheng’s business website is BlueOceanGlobalWealth.com. Find her on Twitter @BlueOceanGW.
Follow Marguerita and purchase Asian Women Who BossUp
About Women with Vision International
Women with Vision International aims to inspire, uplift, and empower women everywhere to never give up their dream of living their life on purpose. We gather dynamic, entrepreneurial women who are making a difference and changing people’s lives to spark conversation around the topics that impact us all such as building their businesses, fundraising, and balancing their work and their families.
About Tam Luc
Tam Luc is an international bestselling author and the founder of Women with Vision International who shares the triumphs, stress, and struggles of balancing her life to help women grow their businesses. After 20 years as an entrepreneur, she is able to help women leverage their messages and create the lifestyle they want through her unique book messaging strategies. Join us at https://womenbossupsummit.com/virtualsummit