Archive for September, 2011

How To Start Saving: From Baby Steps to Retirement

How To Start Saving: From Baby Steps to Retirement

Sometimes our finances can become overwhelming to keep track of. And starting a savings account is the last thing on our minds. But it’s necessary to avoid living from paycheck to paycheck! It’s also a great life and academic lesson for our kids to learn.

Here’s where to begin saving:

It could be as simple as a piggy bank – If you are living paycheck to paycheck, having a piggy bank for you and your kids is a great way to start saving. It could be for change left over, found money or from part time jobs, chores and gifts.
Make it automatic and a habit – Every time you get change from shopping or chores, save it. The ideal is to put away 10% of each paycheck. If that’s not possible try 5% – any amount. The sooner you start saving the more money you’ll accumulate.
Make the mental shift – Save instead of spend. Think about this, if you saved and invested your money from not buying that bottle of soda how much would it be in 15 years? A few hundred dollars? Then multiply that by how many bottles of soda you buy in 15 years. It’s probably enough to help you retire!
Open a free savings account – Once you get used to saving, don’t hide it under a mattress. Formalize the process and open a savings account with your local bank. Make sure that the account doesn’t have a fee associated with it. Again, the process of opening and systematically putting savings away is a great life and academic lesson for your kids.
Set a goal for your savings – Save up for a new bike, a trip or even money for college. The process of setting a goal may mean that you’ll have to create a budget, calculate interest, figure out how much things cost, etc. All this means you’re on your way to mastering the art of savings.
Start a Roth IRA retirement account – It’s a special retirement account that allows you to earn interest tax-free, and make tax-free withdrawals after age 59-1/2.

The key to savings is to start now, to make it a habit and to set goals for how you plan to use your money. These simple tips will get you on the right path to financial security. As your savings grow, find a trusted financial advisor to help take you to the next level.

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Tips for Maintaining Work Life Balance

Small business owners typically work a lot. It seems there is never enough time or hands to get everything done, and as the owner of your empire, it’s up to you to make sure things get accomplished.

Yet part of the reason a lot of people go into business for themselves is so they can have more time to focus on the things that are important to them…things like family, travel, and other lifestyle choices that make life meaningful.

Can you have both? Can you enjoy a fulfilling business while also focusing on what’s important? Sure you can! But it takes both planning and mindset to successfully achieve your business goals while enjoying the life balance you strive for.

Here are some tips for making it happen.

Write your goals down. Make sure that all the tasks you’re working on are helping you reach those goals. If not, re-evaluate the task. Is it worth the time, or would you be better served doing something else?
Make sure your goals are realistic. You probably won’t earn a million dollars in a month. Take a look at what others with similar businesses have earned, and set similar goals. It will help you stay on track, without getting discouraged.
Your planner is your best friend. Put in the things you want to do for your family, as well as your work priorities. This way you won’t waste time trying to figure out what to do next. Everything is scheduled, and you’ll get things done while also giving yourself time to focus on all the priorities in your life.
Have work hours. Your family life will run a lot more smoothly if there is a routine built in. So have regular office hours when everyone understands you’ll be working, as well as times when you’re “off the clock” and are free to give your full attention to other things.
Realize that there will be times you’ll need to change your plans. Yes, your schedule is the ideal, but of course emergencies happen. So do your best to stick to your schedule, but also have enough flexibility to change direction when necessary. (And build some cushion into your schedule so that you can redirect when necessary.)
Forgive yourself. If you miss a concert or a ball game, there will be others. You’ll waste a lot of time and energy beating yourself up over something you can’t control. Better just to get what you need to done, and then give 100% of yourself the next time you can be there. Your child won’t be scarred forever if you miss something, and neither will you.
Involve your family. Make sure your kids understand that your work is important, and how the money you’re earning affects what they want to do. Also invite them to participate in your business where they can. They can file, help you load the car, and plan the schedule. By involving them, they get a better idea of all you have to do, and you’ll also teach important life lessons about working hard and achieving your goals.
Plan time away. Sure, work is important. But so is family, and it’s important to give yourself some distance as well, so you can come back refreshed. So plan times when you DON’T work. Even if it’s just a staycation. Just make sure there are blocks of time when you focus on priorities besides work. It will do wonders for you.

By planning ahead, you will be much better able to balance work with the rest of your life, and enjoy every part of your life more.

What tips would you give for helping people achieve work and life balance? Would love to read your thoughts in the comments!

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Tips for Improving Your Communication Skills

Tips for Improving Your Communication Skills

“How’s the weather?”

“Hey, how are you doing?”

Is this how you start a conversation? But then it suddenly ends and it feels a bit uncomfortable. In a split second, your conversation start and ends without any genuine communication. Having great communication skills helps you network, expand your influence and create lasting relationships.

Here are some tips to help you improve your communication, so that each interaction becomes a meaningful exchange that may lead to a future business relationship.

Be relaxed and in a positive mindset. Someone who is relaxed and positive will draw people in.
Smile and say hello. A great smile and hello is warm and inviting.
How are you doing? Reflect a simple and caring greeting.
Be an active listener. This will help you feed the conversation and keep your mind from wandering.
Keep eye contact. This will help you focus on the person and maintain active listening.
Speak naturally, simply and be yourself. People connect better with someone who comes across very comfortable and easy to understand.
Ask another question (How, When, Where, What, Why).
Continue active listening.
If you find a topic that you’re both interested in continue the theme.
End the conversation. Consider making plans to get together soon, or give them your business card with a quick note on the back (like it was nice catching up), and/or offer to connect on a social media network.
Practicing your communication skills is the best way to get better. Think of a conversation like dancing with a partner. The more you do it the more fluid you become.
Put yourself in more social situations to practice your communication skills.
You can also record yourself and start with a basic communication script to improve quickly.

Why are great communication skills so important? For businesses having great communication skills helps build relationships. For the average person it’s about feeling accepted, bonding with others and creating joyful experiences. Successful businesses use communication to weave both concepts in order to maximize growth and loyalty.

What tips would you give to a business owner looking to improve his/her communication skills?