ByDN MEDIA NETWORK

In the '90s and before, people almost exclusively became popular through movie studios and record labels, fashion outlets, professional sports teams, and politics. Now, becoming famous is within anybody's reach. 

When somebody manages to accomplish the feat of becoming an Internet sensation, they have two options – to let it go or try to ride the wave of fame. Those who choose the latter often struggle with their finances because they are not used to the lifestyle (and expenses) that come with fame.

Still, they have a solution - they can hire a financial expert and business manager like Travis Guterman. Travis is a business manager for YouTubers, gamers, TikTokers, traditional entertainers, and professional athletes. With a long list of clients and a 100% retention rate, Travis seems to satisfy every client he takes on. In this exclusive interview, he explains his role and shares some advice.

How would you explain your job to people who are not familiar with what you do?

Those who watched the hit HBO show Entourage will remember Vince's accountant – the guy who would call Vince to tell him to buy or not to buy that fancy car or mansion. Well, that's me in real life.

So, the business manager is like an accountant?

Not really, because there is a vast difference between being an accountant and a manager. The business manager is more hands-on. I'm regularly involved with my clients, rather than just being around during tax time.

I offer both financial advice and concierge service. People hire me to be their CFO or, as I like to call it, "financial quarterback." That way, my clients can focus on creative aspects of their business without distractions.

How exactly do you help your clients? What are the services you offer?

I help my clients out with every possible aspect of their personal and business finances. I’m there when they need to prepare taxes, pay bills, and do financial reporting. I advise them when they want to make investments or acquire assets, such as houses, cars, or even planes. And I even help my clients with setting up corporate entities and launching companies or brands. Last but not least, I always want to ensure a stable financial future for my clients, so I help them find proper insurance for their needs.

Who are your clients? Who do you work with mostly?

I primarily work with celebrities and high-net-worth individuals. I’ve also managed to add a new branch in the business management industry - digital space. The majority of my clients are YouTubers, TikTokers, gamers, podcast hosts, influencers. But, I also work with writers, directors, actors, showrunners, and professional athletes.

The unwritten stereotype is that people who are longer in the business have more experience, connections, knowledge, etc. How did you manage to become a business manager at the age of 30?

I focused on two things – a holistic approach to my clients and following the trends.

For me, every client is unique and has unique needs. There is no one-size-fits-all strategy in my approach. That's why I tailor the financial plan to each of my client's needs and goals.

Also, I spend my free time watching YouTube and TikTok, and I grew up with the Internet while playing video games. I'm always keeping up with trends - that's what gives me the much-needed edge.

Did COVID-19 affect your business? What changed?

Yes, it did. I love grabbing lunch with my clients and catching up with them. When I meet my clients, we don’t talk only about business. We also get to know each other and deepen our relationship. Now, we exchanged lunches and dinners for Zooms and phone calls. The only positive aspect is that now it’s easier to connect with my clients, since we don’t have to fight traffic or set aside other plans to meet.

When it comes to the business side of things, my job has become a bit more challenging. There are constantly new government laws and programs introduced to stimulate the economy, and I have to make sure to stay on top of them. Still, I have been able to help my clients obtain PPP loans, employer tax credits, and other financing. 

This will be our last question of the night. Is there any advice you would like to give to readers and those looking for financial advice?

I believe in common-sense financial practices. I'm a fan of Jocko Willink, especially his quote, "discipline equals freedom."

I always strive to teach my clients that having discipline in their financial life will provide them with the freedom to spend money and time on important things that will improve their quality of life. When they’re able to hold out, they also don’t have to work on projects they hate just to pay their bills.