Vanessa Marrero was born in Gran Canaria but has lived most of her life in Lanzarote. The Official College of Economists of the province of Las Palmas has awarded her one of the latest Honorary Economist awards for her career as a financial educator.
Marrero, who has trained thousands of entrepreneurs, especially women entrepreneurs, through her School of Economic Tranquility, so that their business does not weigh down their personal life, but quite the opposite, explains in an interview with Ekonomus the keys to good business finances.
“You learn the most from failures”
Marrero, who for ten years managed a large family catering business in Lanzarote, knows what it is to face business problems, so much so that she became ill with cancer, an illness that she fortunately overcame.
In 2008, the family business entered bankruptcy proceedings and was subsequently liquidated. "You learn the most from failures or difficult times; the important thing is what we do with those experiences," explains the financial trainer.
That experience helped him realize that he could help other people so that they wouldn't go through the same thing, so that the development of their company wouldn't weigh down their personal life.
So she read, studied, and worked to become a financial coach, and she has already advised thousands of entrepreneurs, especially female entrepreneurs, "who identify more with my philosophy."
Digital Classes, In-Person Classes, and a Podcast
Twelve years ago, she founded the School of Economic Tranquility, an online training and mentoring company. "I teach people who already have a business up and running to achieve economic tranquility, take control of their finances, learn to organize their company, and above all, to build a profitable business that adapts to their life," Marrero summarizes.
"I know what economic anxiety means and how it affects not only the pocketbook but also health. Economic peace of mind is not about becoming a millionaire, which is a totally subjective concept, but about having a business that gives me the money I want to have the life I want," she adds.
Marrero not only teaches "the technical part of doing numbers," but also "how to interpret them so that they become allies and allow for good long-term forecasts."
At her school, the financial coach offers "online recorded courses that people can take at their own pace and that are, of course, cheaper." More than 7,000 students have purchased one of the courses. "I work with people from all over the world from Lanzarote," she explains.
In addition, Marrero offers live mentoring sessions, both online and in person. "I currently have one with the Cabildo de Lanzarote for entrepreneurs on the island, it's called Financial Mind Mentor, this is the second year we've done it, we start on October 15th."
At the same time, the financial coach is hosting six female entrepreneurs from different parts of Spain in Lanzarote these days, "who have already been my students, to prepare the planning for the entire coming year in four intensive in-person days."
For those who want to have initial access to Marrero's knowledge, the financial advisor has a free podcast with bi-weekly episodes in which she shares educational content on business finance.
Three Basic Tips for Good Business Finances
When asked about the three basic tips for good business finances, the advisor is clear: "First, be aware of your economic situation."
"Secondly, work with forecasts, not just analyze what has happened in the last month, which is also necessary, but go ahead, know what I estimate will happen next month, the next, and the next, to propose actions and then be able to measure if I am right or wrong."
“Lastly, I would tell you that it is also essential to separate from minute one, if you are self-employed—if you are a company it is mandatory—to separate your personal finances from the company's. If you don't, you won't professionalize your business, you can't analyze whether the company is profitable or not.”
“You have changed my life”
When asked about the nicest thing a client has said to her, Marrero replies: "The nicest thing, and I hear it a lot, I'm very fortunate, is 'you've changed my life'."
"When you have money problems, you don't enjoy your day-to-day life. If you have to pay taxes and you don't have the means, it's anguish, and only those who live it know it," Marrero shares.
"When you suddenly go to a training and feel that you finally understand the numbers, that you know where you are business-wise, that you have a plan to know what the next steps are, that if things don't go as you had planned, you have enough time to look for alternatives. That changes your life."
“It changes your life because you achieve financial security. Information is power and peace of mind. And obviously, you're going to earn more money, you're going to be much more efficient, you're going to know what works and what doesn't, where you want to go.”
"There are students who have told me 'it's the first time in 10 years that I've taken a whole month of vacation' or 'it's the first time I've paid myself a decent salary'. If you don't have your numbers under control, you don't know how much you can charge or if you can hire someone."
School for Young Entrepreneurs
Marrero is also the co-founder and head of the School of Young Entrepreneurs for the Canary Islands, which has a presence throughout Spain and has trained thousands of students in Lanzarote alone.
"In Lanzarote, we've spent nine editions working with students aged 14 to 16 to teach them to have an entrepreneurial attitude towards life, so they know they have to work on their skills and abilities. We work on public speaking, teamwork, self-confidence, motivation, etc."
"We need young people who are self-confident, motivated, who have hope for the future, tools, financial education, who see themselves as capable and know that an entrepreneurial attitude towards life is key for them to have the life they want."
