Category Archives: Wealth

How To Hold An Effective Meeting

I think we can all say, we have been in meetings that felt like a complete waste of our time. Either the meeting was disorganized, people were distracted by other devices, or there were no goals set for accomplishment; any of these types are ineffective. Take a look at the infographic below for the next time you conduct or organize a meeting, whether it be professional or for friend group matters:

meeting info

 

Original Source:

http://www.entrepreneur.com/article/253821

8 Traits That Will Make People Trust You As A Leader

What exactly makes a great leader, great? Scientifically, people will listen and follow someone who portrays specific traits; and if it is your goal to become a better leader or begin your journey of leading, pay close attention to the qualities below to see where you could improve:

1. Focus

“It’s been said that leadership is making important but unpopular decisions. That’s certainly a partial truth, but I think it underscores the importance of focus. To be a good leader, you cannot major in minor things, and you must be less distracted than your competition. To get the few critical things done, you must develop incredible selective ignorance. Otherwise, the trivial will drown you.”

—Tim Ferriss, bestselling author, host of The Tim Ferriss Show 

2. Confidence

“A leader instills confidence and ‘followership’ by having a clear vision, showing empathy and being a strong coach. As a female leader, to be recognized I feel I have to show up with swagger and assertiveness, yet always try to maintain my Southern upbringing, which underscores kindness and generosity. The two work well together in gaining respect.”

—Barri Rafferty, CEO, Ketchum North America

3. Transparency

“I’ve never bought into the concept of ‘wearing the mask.’ As a leader, the only way I know how to engender trust and buy-in from my team and with my colleagues is to be 100 percent authentically me—open, sometimes flawed, but always passionate about our work. It has allowed me the freedom to be fully present and consistent. They know what they’re getting at all times. No surprises.”

—Keri Potts, senior director of public relations, ESPN

4. Integrity

“Our employees are a direct reflection of the values we embody as leaders. If we’re playing from a reactive and obsolete playbook of needing to be right instead of doing what’s right, then we limit the full potential of our business and lose quality talent. If you focus on becoming authentic in all your interactions, that will rub off on your business and your culture, and the rest takes care of itself.”

—Gunnar Lovelace, co-CEO and cofounder, Thrive Market

5. Inspiration

“People always say I’m a self-made man. But there is no such thing. Leaders aren’t self-made; they are driven. I arrived in America with no money or any belongings besides my gym bag, but I can’t say I came with nothing: Others gave me great inspiration and fantastic advice, and I was fueled by my beliefs and an internal drive and passion. That’s why I’m always willing to  offer motivation—to friends or strangers on Reddit. I know the power of inspiration, and if someone can stand on my shoulders to achieve greatness, I’m more than willing to help them up.”

—Arnold Schwarzenegger, former governor of California

6. Passion

“You must love what you do. In order to be truly successful at something, you must obsess over it and let it consume you. No matter how successful your business might become, you are never satisfied and constantly push to do something bigger, better and greater. You lead by example not because you feel like it’s what you should do, but because it is your way of life.”

—Joe Perez, cofounder, Tastemade

7. Innovation

“In any system with finite resources and infinite expansion of population—like your business, or like all of humanity—innovation is essential for not only success  but also survival. The innovators are our leaders. You cannot separate the two. Whether it is by thought, technology or organization, innovation is our only hope to solve our challenges.”

—Aubrey Marcus, founder, Onnit

8. Patience

“Patience is really courage that’s meant to test your commitment to your cause. The path to great things is always tough, but the best leaders understand when to abandon the cause and when to stay the course. If your vision is bold enough, there will be hundreds of reasons why it ‘can’t be done’ and plenty of doubters. A lot of things have to come together—external markets, competition, financing, consumer demand and always a little luck—to pull off something big.”

—Dan Brian, COO, WhipClip

 


 

Learn more traits from the original source:

http://www.entrepreneur.com/article/270486

Doing These 6 Things Will Prevent You From Ever Being A Millionaire:

You’ve probably seen a million and one tips on how to become a millionaire- but what’s also important is to take a step back and analyze your current habits that could potentially be slowing you down. Take a look at the list below to see if you need to tweak a few actions of your own: 

1) Buying Things You Can’t Afford.

Living above your means is a surefire road to financial stress — and even if you start earning more or get a hefty raise, don’t use that as justification to give yourself a lifestyle raise.

“I didn’t buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income,”writes self-made millionaire Grant Cardone at Entrepreneur. “I was still driving a Toyota Camry when I had become a millionaire. Be known for your work ethic, not the trinkets that you buy.”

2) Thinking you don’t deserve to be rich.

“The average person believes being rich is a privilege awarded only to lucky people,” self-made millionaire Steve Siebold writes at Business Insider. “The truth is, in a capitalist country, you have every right to be rich if you’re willing to create massive value for others.”

Start asking yourself, “Why not me?” he encourages. Next, start thinking big. Rich people set their expectations high. Why not$1 million?

3) Relying on one stream of income

“Self-made millionaires do not rely on one singular source of income,” Thomas C. Corley, who spent five years studying rich people, writes in “Change Your Habits, Change Your Life.”

“They develop multiple streams. Three seemed to be the magic number in my study … Sixty-five percent had at least three streams of income that they created prior to making their first million dollars.”

Examples of these additional streams are real-estate rentals, stock market investments, and part-ownership in a side business.

4) Being content with what you already know.

The wealthiest, most successful people are constantly exercising their brains and looking for ways to continue learning long after college or their formal education is over.

This choice is entirely up to you, emphasizes self-made millionaire Daniel Ally at Entrepreneur: “Often, people depend on their employers to buy them books, send them to seminars, or provide them with coaching. However, you must take your education into your own hands if you want to prosper. Invest in yourself.”

5) Hanging out with the wrong crowd.

“Einstein said that consciousness is contagious,” Siebold writes. “That doesn’t mean dump your friends because of their low net worth. But if you want to become rich,you need to start associating with other rich people.”

Think of it this way: “If you wanted to become fit, you would hang around fit people at the gym. If you were interested in religion, you would associate more with people at church,” he explains. “So if you want to become wealthy, get around other wealthy people and learn from them.”

6) Spending your free time having fun, and fun only.

Rich people would rather be educated than entertained. Take Warren Buffett, for example, who estimates that 80% of his working day is dedicated to reading.

According to Corley, 67% of rich people watch TV for one hour or less per day, while just 23% of poor people keep their TV time under 60 minutes.

The rich spend that TV time reading — and they particularly like self-improvement books. “The rich are voracious readers on how to improve themselves,” Corley writes. In fact, nearly 90% of them read for self-improvement for 30 minutes each day.


 

Learn more from the original source:

http://www.businessinsider.com/ways-to-guarantee-you-wont-become-a-millionaire-2016-3

Everything You’ve Learned About Managing Time is Wrong, Here’s How…

I think we can all agree that there is not enough time in the day the majority of the time… There’s nothing worse when five o’clock rolls around and we realize we are barely halfway through our to-do list more than halfway through our day. The good news is, this is because our concept of time management is skewed and there is a way to fix this problem; watch this video below to learn life changing techniques that will help you manage your time better for more productivity:

 

How To Start A Business Despite Your Lack Of Money

One of the biggest concerns with accomplishing a dream a lot of times, is money. But money doesn’t have to be a barrier when it comes to your dream of starting your own business, you just have to know how to work around it. Below is advice from Jayson Demers, CEO and Founder of AudienceBloom, on how to start a business despite your lack of money:

You have two main paths of starting a business with less money: lowering your costs or increasing your available capital from outside sources. You have three options here:

Option one: Reduce your needs

Your first option is to change your business model to demand fewer needs as listed above. For example, if you were planning on starting a company of personal trainers, you could reduce your “employee” expenses by being the sole employee at the start. Unless you need office space, you can work from home. You can even do your homework to find cheaper sources of supplies, or cut out entire product lines that are too expensive to produce at the outset.

There are a few expenses that you won’t be able to avoid, however. Licensing and legal fees will set you back even if you cut back on everything else. According to the SBA, many microbusinesses get started on less than $3,000, and home-based franchises can be started for as little as $1,000.

Option two: Bootstrap

Your second option invokes the idea of a “warmup” period for your business. Instead of going straight into full-fledged business mode, you’ll start with just the basics. You might launch a blog and one niche service, reducing your scope, your audience and your profit, in order to get a head-start. If you can start as a self-employed individual, you’ll avoid some of the biggest initial costs (and enjoy a simpler tax situation, too).

Once you start realizing some revenue, you can invest in yourself, and build the business you imagined piece by piece, rather than all at once.

Option three: Outsource

Your third option is all about getting funding from outside sources. I’ve covered the world of startup funding in a number of different pieces, so I won’t get into much detail, but know there are dozens of potential ways to raise capital — even if you don’t have much yourself. Here are just a few potential sources for you:

  • Friends and family. Don’t rule out the possibility of getting help from friends and family, even if you have to piece the capital together from multiple sources.

  • Angel investors. Angel investors are wealthy individuals who back business ideas early in their generation. They typically invest in exchange for partial ownership of the company, which is a sacrifice worth considering.

  • Venture capitalists. Venture capitalists are like angel investors, but are typically partnerships or organizations and tend to scout businesses that are already in existence.

  • Crowdfunding. It’s popular for a reason: with a good idea and enough work, you can attract funding for anything.

  • Government grants and loans. The Small Business Administration (and a number of state and local government agencies) exist solely to help small businesses grow. Many offer loans and grants to help you get started.

  • Bank loans. You can always open a line of credit with the bank if your credit is in good standing.


 

Learn more from the original source here:

http://www.entrepreneur.com/article/271446

7 Ways To Fast Track Your Retirement:

Just imagine yourself out on the golf course with no boss or employees to check in to… Or maybe your vision of retirement is fishing whenever/ wherever you want or taking adventurous vacations without having to worry about PTO… These tips below will help you fast track to retirement and get you to wherever you vision yourself fast:

1. LIVE TWO TO THREE TIMES BELOW YOUR MEANS

Sorry, folks: Simply skipping that $4 latte in the morning ain’t gonna cut it. It takes a much more committed approach where “sacrifices” are viewed in a new light. “It’s amazing when I work through the numbers that some people think manicures, landscapers and maids are a need,” said Michael Chadwick, a certified financial planner and CEO of Chadwick Financial Advisors in Unionville, Conn.

2. REDEFINE ‘COMFORTABLE RETIREMENT’

Less spending later constitutes the flip side of less spending now. If you imagine comfy retirement as a vacation home and monthly cruise ship trips, revisit that vision so you don’t have to bleed cash — but can still retire in style. Instead of two homes, for example, why not live in your vacation destination and pocket the principal from selling your primary residence?

3. PAY OFF ALL YOUR DEBT

That’s right, all of it. First: Is it time to pay off your home? You might not have the resources now to plunk down one huge check, but consider savvy alternatives such as switching from a 30-year to 15-year mortgage. Monthly payments aren’t much higher, but the principal payoff is much greater. Second: Do the same with loans and credit cards, as high interest eats up income faster than termites chewing a log. A credit card balance of just $15,000 with an APR of 19.99 percent will take you five years to eradicate at $400 a month — and you’ll dish out a total of $23,764.48, the calculator on timevalue.com shows.

4. CONSIDER OVERLOOKED FINANCIAL RESOURCES

While it’s risky to count on unknowns such as an inheritance, you might have cash streams available outside the traditional retirement realm, said Jennifer E. Acuff, wealth advisor with TrueWealth Management in Atlanta. For example, “Understand your options with respect to any pensions you might be entitled to from current or previous employers.”

5. INVEST EARLY AND AGGRESSIVELY

If you’re in your 20s and start investing now, you’re in luck, said Joseph Jennings Jr., investment director for PNC Wealth Management in Baltimore. “Due to the power of compounding, the first dollar saved is the most important, as it has the most growth potential over time.” As an example, Jennings compares $10,000 saved at age 25 versus 60. “The 25-year-old has 40 years of growth potential at the average retirement age of 65, whereas $10,000 saved at age 60 only has five years of growth potential.”

6. MARRIED COUPLES: PLAY RETIREMENT ACCOUNT MATCHMAKER

The wisdom of taking advantage of a company match on the 401(k) is well established — but think about how that power is accelerated if a working couple does it with two such company matches. “If your employer has a matching contribution inside of your company’s plan, make sure you always contribute at least enough to receive it,” said Kevin J. Meehan, regional president-Chicago with Wealth Enhancement Group. “You are essentially leaving money on the table if you don’t.”

7. PRACTICE SOUND CASH FLOW MANAGEMENT

The methodology is simple, yet the results can be profound: Put money at least monthly into systematic investments during your working years. “There’s no other element of investment planning or portfolio management that’s more essential over the long term,” said Jesse Mackey, chief investment officer of 4Thought Financial Group in Syosset, N.Y.


 

Original Source:

http://www.msn.com/en-us/money/retirement/15-ways-to-retire-earlier/ss-AAbLLSm#image=8

4 Grocery Items To Cut From Your List To Save Money

It is no surprise to any of us how fast a grocery bill can add up! There has been plenty of times I’ve gotten home from the store to look at my goods and be baffled that so little can cost so much! Consumer savings expert Andrea Woroch, shared 4 items you should cut from your grocery list to help cut down on your expenses and save you from the bafflement:


Becoming $1,000 Richer in Just 5 Tips

What may seem to be a minuscule purchase at the time, could be burning a hole in your pocket, and often times it goes overlooked. Establishing best practices can save you $1,000 in a week if executed consistently and honestly, who couldn’t use an extra $1,000 around, am I right? Rammit Smith, author of, “I Will Teach You To Be Rich” provides these important tips when it comes to saving:

1)Optimize Your Cell Phone Bill

When buying a new cell phone, Sethi likes to pay a little bit more upfront by choosing the unlimited data and text messaging plan. He then sets a three-month check-in on his calendar, and analyzes his spending patterns after a few months to see where he can cut back.

-Estimated Savings: $20- $600

2) Create a No Spending Day Once a Week

Choose one day each week and challenge yourself to not spend a single dollar.The key to this tip is putting it in your calendar so it becomes a consistent system.

Estimated Savings: $5-$75

3) Postpone a Large Purchase Until Next Month

Set a reminder on your phone to remind you about the desired purchase and most likely you will either realize you don’t need the object anymore or it may even be on sale now.

Estimated Savings: $50-$3,000

 

4) Go Cash Only

Take a limited amount of cash out of your checking account that will last for a few weeks. This habit will force you to become a conscious spender.

Estimated Savings: $50-$300

 

5) Forget The Bar Scene- Ask Your Friends To Your House

Copyright:ridofranz
Copyright:ridofranz

 

Even if this is only done once or twice a month, it is one of the most cost effective decisions according to Sethi. This factors out costs such as, gas, food, drinks, tips, taxicab, valet, etc.

Estimated Savings: $50-$200

 


 

 

Read The Rest of Sethi’s Tips at:  http://www.businessinsider.com/how-to-save-money-quickly-2015-6?op=1#ixzz3dZ6lfNV0