Eydie Balsam, Founder of College Bound Advising
Names: Eydie Balsam
Founder: College Bound Advising
What's your elevator pitch?
I help students and their parents navigate the teenage years and college admissions with confidence and clarity, offering guidance rooted in curiosity—not frustration—through counseling, workshops, membership programs, and content that makes the process more meaningful and less overwhelming.
What's your story? Share how you got to where you are and WHY it is you do what you do.
I love adolescents! I see this time of life as one to celebrate curiosity and wonder. I have always enjoyed working one-on-one with students and their parents, but I am an entrepreneur and visionary at heart. Over the past 20 years I have grown from helping 5 students per year to a full service business with a staff of 5.
I love creating new ways to engage students in finding out who they are, who they want to become and of course finding the right fit college (or next step in their journey) to do so.
What does BEING a FoundHer mean to you?
Being part of a community of other women (in my ageish range) who can support each other through the loneliness, self doubt, and overwhelm that sometimes comes with being an entrepreneur. It means having a space online—and in person—to learn from one another and have a little bit of fun along the way.
How do you support other female founders and women in business?
I am an open book: if you want advice on how to run your own college counseling business let me know, I am happy to help. If you want advice on how to start building your email list, I will share with you what I have learned. If you need referrals, I’m happy to share your name. In other words, I am a collaborator and mentor at heart.
What podcasts do you listen to that have helped you with your business?
Dear FoundHer, obviously.
Gold Digger - Jenna Kutcher
Rethinking - Adam Grant
I Dare You - Jen Gottlieb
Earn Your Happy - Lori Harder
What is ONE BOOK that you would recommend every female business owner read?
UpTime by Laura Mae Martin or Profit First by Mike Michalowicz.
Who is a female entrepreneur you look up to and why?
Don't judge me, but Bethany Frankel. While she may not be everyone’s cup of tea, I feel as if she knows her stuff and isn't afraid to be who she is. I admire her business savviness, but also her candidness.
What are the first five things that you did when you were starting your business?
Got business cards
Made a website
Created a business email
Opened a business checking account
Learned best practices for Google
Who is someone who has helped change or shape your business for the better and what did they do to help you?
Although I have never met her personally (yet - I did join her mastermind), Stacy Tuschl has taught me how to put in systems and maximize my time by delegating different tasks and putting up boundaries. I have listened to her podcast for years and just joined her group.
At what point did you make your company a full time gig? How did you know the time was right?
During Covid. There was a big demand to help students stay engaged in their learning and community and my children were at the age that I could invest more time in building a business and a brand vs. just being a college counselor.
What lesson or skill did you take with you from a prior job to help you succeed in your role today?
Collaboration with colleagues and how to mentor and engage adolescents and young adults.
Let’s talk social media—who handles it for your company (you, an internal team member, an outsourced solution?) and what is the secret to making it successful? What is the biggest challenge?
A mixture: I have a graphics person who helps me, but right now I guide the process. The biggest challenge is having the time to focus on content and knowing how to make reels or videos when I am alone in my office! I do time block once a week and get some ideas out, but then something comes across my desk and I want the world to know but then don't have time to coordinate my team to get it out.
What is something you do differently from the industry standard?
Our curriculum includes engaging students in community service and giving back to the community through a non-profit foundation I started. We also include open office hours for students to come to our office to a) work on their essays and applications and b) join a community of other students who are going through the same process as they are.
Did you raise capital? What was the process and avenue you chose to take?
I have been applying for business grants but haven't gotten any yet. I am pulling together a business plan for a new idea I have and will need to find investors or take out a loan to make it work.
What would you do differently if you were starting your business today?
Have more systems in place. I would have written everything down; now that I have a team, I don't have SOPs and that is slowing things down.
What are three strategies you use to market your business, grow brand awareness and generate bottom line growth?
A little bit of everything; some free events, Facebook, Instagram, LinkedIn posts, and networking, but mostly word of mouth.
What was an obstacle you overcame to get your business where it is today?
Broke up with a partner. Right as I was beginning to grow I brought in a partner and it did not go well. It was going south for 6 months and I should have ended it before it got really bad, but I was trying to save the partnership and friendship. In order to break clean I had to rebrand and start over, which was hard. In the end I have learned how to be a better business person and leader. It was a very hard ending, I lost a friendship and had to work 90 hour weeks to recover and build the brand, but I am finally beginning to see the benefits of the hard work.
What are three actionable tips you would give with other women who want to start a business or are just getting started?
1) Open up a business checking account and get a business credit card
2) Join your local Chamber of Commerce
3) Time block your schedule and set boundaries
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