Makers & Movers: Abundance University
Lawrence Cain, Jr., is the founder of Abundance University, a financial education organization teaching practical skills for all ages. He started the business to fill gaps in how people are taught about financial success and has been helping families build financial confidence for over 10 years.
1. Introductory Insight
What is your name, and what is your side hustle or business?
My name is Lawrence Cain, Jr., and my business is Abundance University.
Briefly describe your business or side hustle.
We are a financial education organization that specializes in programming and courses for all ages.
How long have you been operating your business?
I have been in business for 10 years.
2. Business Journey
What inspired you to start your business?
I was inspired to start Abundance University because I saw a huge discrepancy in how we are taught about financial success.
How did you transition from idea to execution?
I wrote down a business plan in December 2014 and launched it in June 2015
What were the initial challenges you faced?
One of the biggest challenges we faced initially was figuring out how to monetize the services.
3. Strategic Moves
What does a typical day look like for you?
I typically work 4 hours per day, prioritizing social media marketing, email marketing, and actually facilitating workshops.
How do you manage and prioritize tasks?
I write down all of my tasks for the week and put them on my calendar.
What tools or systems do you use to run your business?
The main tools I use in my business are social media, Chat GPT, Opus Clips, and Google Suite.
4. Growth & Outreach
What marketing strategies have been most effective for you?
Social media marketing is most effective for us.
What marketing channels have been most effective for your business?
Facebook and Instagram have been great platforms to grow our reach and revenue.
Have you leveraged social media or other platforms for growth?
We utilized social media before we even had a website!
5. Challenges & Lessons Learned
What significant challenges have you encountered?
The obvious challenge has been the pandemic. The most recent challenge is that Title 1 funding has been cut significantly, and this is where schools pay us from.
How did you overcome them?
Repackaging our services that are direct-to-consumer
What lessons have you learned that you’d share with aspiring entrepreneurs?
Be relentless, be patient, and be confident in your brand.
6. Future Plans
What are your short-term and long-term goals?
Short-term: Launch an online course for young adults
Long-term: Get a partnership with the city for financial coaching
Are there any new projects or expansions on the horizon?
New “Life After High School” workshop for HS seniors
How do you plan to scale your business?
More digital products
7. Personal Insights
How do you balance work and personal life?
I prioritize my tasks and shut work down when I’m around kids.
What motivates you to keep going?
Legacy and knowing that I helped families break financial barriers
If you could have dinner with any entrepreneur, who would it be and why?
I’d love to have dinner with Teyana Taylor because she’s so multifaceted. I know I’ll be able to learn about how to evolve with time.
8. Advice for Aspiring Entrepreneurs
What advice would you give to someone starting out?
My biggest piece of advice is to stay consistent and persistent in marketing your brand.
What do you wish you knew before starting your business?
How to successfully create a sales funnel
How can one stay resilient during tough times?
Remember that you’re closer to success than failure.
9. Fun Rapid-Fire Round
What’s your favorite productivity hack?
Start early & schedule late.
If your business had a theme song, what would it be?
Jay Rock x Win
What’s a fun fact about you that most people don’t know?
I have a famous cousin!
How can people follow your business?
Follow me on ALL social media platforms @LawrenceCainJr & visit our site www.abundanceuniversity.net
Jason Butler is the owner of My Money Chronicles, a website where he discusses personal finance, side hustles, travel, and more. Jason is from Atlanta, Georgia. He graduated from Savannah State University with his BA in Marketing. Jason has been featured in Forbes, Discover, and Investopedia.
