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NASE Member Profile: Musical Moola
Jessica Scheitler has been an NASE Member for about four years. She owns Financial Groove, with offices in Las Vegas and New York City. Her Web site is www.financialgroove.com.
Tell us about Financial Groove.
Financial Groove strives to bridge the gap between creativity and business. We work with entrepreneurs, small businesses and the self-employed. Most of our clients are people in the music, arts and entertainment industries, such as bands, dancers, entertainers, artists and production companies.
We organize, create and facilitate the best bookkeeping, tax services and financial systems to make our clients financially successful. Finding solutions for each individual situation is our strength. Our primary goal is to educate our clients on the benefits of good systems to effectively take their businesses and careers to the next level. Financial Groove was officially launched in October 2007.
Why did you start Financial Groove?
I have a background in the arts and studied arts administration with the intent of starting my own dance company. As things progressed, bookkeeping and accounting became my primary business.
I discovered a void in the market of accounting and taxes, in which more formal tax companies and the community of artists don’t really understand one another because they’re coming from such different schools of thought. Artists and a lot of free-thinking individuals are intimidated by the tax system or are afraid of being judged for their disorganized paperwork or lack of records. I felt this segment of the market needed some help.
I wanted artists to recognize that it can be cool—not to mention beneficial—to be on top of things financially.
As a former dancer and choreographer, dance and artistic expression have been lifelong passions of mine. I found in many cases, the financial and business end of things held artists back from fully prospering in their art, so I formed Financial Groove in order to bridge that gap. My clients often click with the fact that I know their tax write-offs because I’ve lived that life.
How has the NASE helped your business?
I’m a huge fan of the articles in Self-Employed magazine. I go through each issue and highlight new ideas that I would like to institute in my business.
The resources available through the NASE have guided many of my decisions. For example, early on I didn’t even realize there were so many things I would need to think about to protect my business, such as insurance, background checks and legal advice. The member benefits allow me to function like a big corporation while maintaining my small-business ideals.
I also have access to health insurance, which has been a lifesaver. I’m a diabetic and I certainly wouldn’t have been able to grow my business without health insurance. Being an NASE Member made that possible.
Any business advice for fellow NASE Members?
Stay true to yourself, your goals and your passions, and short-term sacrifices will lead to long-term success.