We seem to have forgotten that the economy has been bad before and we’ve survived. There has been an ebb and flow to the cycles of business for as long as there has been exchange of goods in the marketplace. It goes up and it goes down. Around and around. Season after season.

We seem to have forgotten that in the scope of history, it wasn’t that long ago that people left their home country to reach a new world of opportunity. They blazed trails into the wilderness. Instead of focusing on how bad it was or how there wasn’t a governmental agency out there prepared to underwrite their endeavors and make everything OK, or extended unemployment benefits, they pulled up their boots, focused on the positive and the possibilities and got to work. They made a way when there seemed like there was no way.

We seem to have forgotten that it was only about 100 years ago that the majority of the population was self employed. They didn’t wait for someone else to assign their value to a salary and a desk; they looked for the needs in the marketplace and came up with creative ways to fill them.

I think it’s pretty obvious that “things” will never go back to where they were 5 years ago. But rather than let the newspapers and pundits write your story for you, take control of your life and write your own story. Don’t you think you’d do a better job than some corporate CEO whose focus is his own company’s bottom line?

Once upon a time, there was you. Where are you going from here?

http://tinyurl.com/36tfsns

Happy Entrepreneuring!!

Katherine

Time is like water. Water can’t ever be completely controlled. We might throw up a dam and think it’s under control, but that’s when a crisis will happen and we’re faced with either a flood or a drought on one side of the dam or the other.

Finding the balance is tough, but crucial. If we hoard the water above the dam (worklife) so we can get a lot done, the land below the dam (homelife) will dry up and die. If we let too much water flow downstream, we don’t have enough resources above the dam.

Planning our time is the cornerstone of good time management. Otherwise, you’ll be like me and turn around and time has floated downstream without much to show for it. Over-planning is just as dangerous and you can start to feel like a slave to the calendar and resentful and when that happens, we start sabotaging ourselves.

So, for me, it’s back to a schedule, with time for work and time for family and a little bit of room to let the water flow and do its work in case Mother Nature sends me a rainstorm.

The following are some sources for funds that can be used for your business needs:

1. Personal savings – Many start ups rely on savings to finance their business. This is the most cost effective source of funding but you need to use wisdom. Don’t put your family’s future in jeopardy by blowing through your life’s savings.

2. Bootstrapping – This is a method of self reliance that is also very cost effective. Money produced is poured back into the company to avoid the need for outside funding. This also means that growth has to be controlled so that costs can be controlled, which in my view, is a good thing. Uncontrolled growth can create a whole host of problems.

3. Family and Friends – Oftentimes, loved ones can provide funds for a start up entrepreneur. However, proceed with caution; these relationships are the most important in your life.

4. Small Business Administration – The Small Business Administration has a loan guarantee program where, if you’re approved, they will guarantee a portion of your small business loan.

5. Bank Loans – This is a more traditional form of financing. Bank requirements have become quite stringent and you may have to supply personal assets as collateral.

6. Investors – Securing funds from an investor is difficult, but not impossible. An investor will provide funds, either their own (angel investor) or those from a managed fund (venture capitalist), for your business. In return, they often expect not only debt repayment but also ownership equity in your business.

Happy Entrepreneuring!

Katherine

Besides just the downside of the benefits listed above, being disorganized also severely impacts your productivity, costs you time and money. Let’s estimate that a bit to put it in real world terms. Experts estimate that the average worker spends an hour a day looking for misplaced items. Say your income is roughly $60,000 per year. That hour adds up to almost $150 per week. Almost $600 per month. And over $7,000 per year.

That’s $7,000 a year flushed. Gone. Buh-bye.

I know, I know, being organized is a PAIN! It takes discipline and follow-through, but how much pain does it cause you to lose $7,000 a year?

What could you have done with that $7,000?

Tips for getting and staying organized

1. Clean the slate. You’ve seen those organizational shows where they pull everything out of the house and make the people go through and sort it, right? To stay organized, you need to get organized.

2. Create Stacks. Once you have that stack of items piled up in front of you that you’ve been putting off dealing with, go through it and put it into 4 stacks:

Trash, Shred, File, Action Needed

The trash part is easy. Throw it away. Be careful not to throw anything away that has personal information, even if it’s partial like credit card numbers, birth date, medical information, etc. You’re better off to shred it. Better safe than sorry. You’ll be surprised at how much of the stuff you can just toss.

Shred – easy, peasy. If you don’t own a shredder, this is one of the best investments you can make. And get a cross cut shredder. The old style strip shredders are pretty useless. It might take some time, but anyone who is patient enough can patch those strips together and have any information you thought was protected.

File – I have an ongoing file stack. I have some of those nifty stackable trays and one of them is specifically for filing. Then every Friday, before I close the office for the day, I file. It usually takes all of 10 minutes and then everything is in its place. If it’s not in the file, it’s in the tray. How easy is that? And 10 minutes is WAY doable…I don’t care who you are.

Action needed – I’ve found that this stack is usually fairly small. Either write them down in a list, or sort them in order of priority and schedule time to deal with them.

3. Make a to-do list. Taking a few minutes to write down the to-do’s of the day will help you to stay on task. You’ll also get a sense of accomplishment by checking items off when they’re complete.

4. Stay on top of it. I know, it may take an extra 2 minutes to sort through the mail as soon as it comes in, but those 2 minutes will save you having to repeat steps 1 and 2 again. Over and over.

5. Use your calendar. If you start using a calendar to schedule your time, you will be surprised to find out how much time you can find. I subscribe to several magazines and have time for reading them slated into my schedule.

There you have it. A few simple things followed consistently and your work world will be a much more organized, productive place, which for me, makes it a happier one, too.

Now…what can I use that $7,000 for?

HANDBOOK for 2010

Health:
1. Drink plenty of water.
2. Eat breakfast like a king, lunch like a prince and dinner like a beggar.
3. Eat more foods that grow on trees and plants and eat less food that is manufactured in plants.
4. Live with the 3 E’s — Energy, Enthusiasm and Empathy
5. Make time to pray.
6. Play more games.
7. Read more books than you did in 2009.
8. Sit in silence for at least 10 minutes each day.
9. Sleep for 7 hours.
10. Take a 10-30 minute walk daily. And while you walk, smile.

Personality:
11. Don’t compare your life to others. You have no idea what their journey is all about.
12. Don’t have negative thoughts or things you cannot control. Instead, invest your energy in the positive present moment.
13. Don’t over-do. Keep your limits.
14. Don’t take yourself so seriously. No one else does.
15. Don’t waste your precious energy on gossip.
16. Dream more while you are awake.
17. Envy is a waste of time. You already have all you need.
18. Forget issues of the past. Don’t remind your partner with His/her mistakes of the past. That will ruin your present happiness.
19. Life is too short to waste time hating anyone. Don’t hate others.
20. Make peace with your past so it won’t spoil the present.
21. No one is in charge of your happiness except you.
22. Realize that life is a school and you are here to learn. Problems are simply part of the curriculum that appear and fade away like algebra class but the lessons you learn will last a lifetime.
23. Smile and laugh more.
24. You don’t have to win every argument. Agree to disagree.

Society:
25. Call your family often.
26. Each day give something good to others.
27. Forgive everyone for everything.
28. Spend time w/people over the age of 70 & under the age of 6.
29. Try to make at least three people smile each day.
30. What other people think of you is none of your business.
31. Your job won’t take care of you when you are sick. Your friends will. Stay in touch.

Life:
32. Do the right thing!
33. Get rid of anything that isn’t useful, beautiful or joyful.
34. GOD heals everything.
35. However good or bad a situation is, it will change.
36. No matter how you feel, get up, dress up and show up.
37. The best is yet to come.
38. When you awake alive in the morning, thank GOD for it.
39. Your Inner most is always happy. So, be happy.

Lose 100 lbs in four months.

Make a million dollars in a week.

You get the idea.

Is it possible? Sure.

If you’ve ever watched The Biggest Loser you’ve seen people lose 100 lbs in four months.

But they have put their entire lives on hold to focus on that one area of their lives.

I personally know folks that have made a million dollars in a week.

But they didn’t start out making that kind of money. Nope, most took about 10 years to grow to that point.

Is going big the only way to go? I don’t think so.

I think that too often we get it in our heads that unless we’re able to “Go Big” we shouldn’t even try. Or we try to “Go Big” and get overwhelmed.

Why can’t we just “Go?”

I’m of the opinion that any progress is good. Sometimes it’s small steps but at least we’re moving forward. Actually, I believe that compounded small steps add up to BIG change. Not only big change, but LASTING change.

You might not lose 100 lbs in 4 months, but you might lose 20 lbs in those 4 months just by eating a few less bites and moving a few minutes more each day.

You might not make 1 million dollars in a week, but by focusing on your business consistently and making small steps of progress, you might make an additional $10,000 this year.

I don’t know about you, but 20 lbs less and $10,000 more is better than finding myself in the exact same place in a year. Or even worse, 20 lbs heavier and $10,000 more in debt because I tried to make some huge effort and failed…and gave up.

So, as you look to 2010 and start picturing what you want to accomplish I encourage you to DREAM BIG, but break it down into small, realistic steps.

Just go.

For the most part, the input was excellent. But there was one response that surprised me.

“If at first you don’t succeed, quit.”

I know, right? I mean, I had to read it a couple of times to make sure I read it right.

Perhaps he was just being facetious. Perhaps not.

As entrepreneurs…or really even as human beings…we’re going to come up against obstacles. We can either use the obstacle as a convenient reason to quit. Or we can see them for what obstacles really are – opportunities.

Opportunities for growth.

Not all obstacles can be overcome, but they still provide room for growth. Just as a poker player analyzes the table to decide whether they should stay the course, raise the stakes or fold, we need to analyze what lies in our path instead of reacting by immediately throwing in the towel.

“Ignorance or Apathy? I don’t know and I don’t care.” ~ Jimmy Buffett

What’s the more difficult position – not knowing or not caring? When starting a business I’ve often found myself in the position of not knowing something. No matter how smart I might think I am, I have found that I can’t know everything so I often have to go searching for information to fill the gap. But what happens when we know what we need to do but we just can’t muster the motivation to do it? Apathy, procrastination, doldrums, rut, unmotivated – no matter what you call it, it can be a problem that is difficult to overcome. We’re going to look at some ways to overcome both.

Being called ignorant is perceived as a real put down and is often used to describe people who are bound by their prejudices rather than simply without facts. Ignorance is defined as lacking knowledge or information as to a particular subject or fact. We can’t know everything so we’re bound to be ignorant of something at some time. There is more access to more information today than there has ever been in history. Not only do we know more, but the access is incredible.

In the not so distant past, only the very wealthy and primarily men, had access to books and the abundance of knowledge that was available at that time. The internet has made it possible to gain more information than you ever thought possible in a matter of moments. We can find out just about anything we want 24/7 with the click of a button – ignorance overcome.

But what do we do when we know what we should be doing but just don’t do it? Sheesh! That’s a whole lot of doing!

This weekend I was working at a client event and early Saturday morning I was playing taxi to the airport so that our Continuing Education speaker could catch his flight. During the hour long trip we started talking about his business. He’s a good speaker with a very relevant message but he’s struggling to get his bookings at the level that he’d like to have them. On the flip side, there are other speakers who aren’t as good at the on-stage delivery but they are consistently getting booked. Not only booked, but booked at rates that are almost double.

What’s the difference? Or, as I put it in one of my favorite questions to others when facing a problem – Why do you think that is? His response was: I know what I need to do, I just don’t do it.

Do you ever feel that way? I know I do.

Apathy is more difficult to overcome than ignorance because we can’t just click a button to feel motivated to do whatever task is preventing us from moving forward. I don’t think it’s that we don’t care, we just don’t care enough. In other words, the consequences of our inaction aren’t painful enough to spark us to action or the promise of the payoff for completion isn’t relevant enough to lure us forward.

So, how do we overcome the problem?

There’s not a quick fix and certainly not a one size fits all solution, but these are a few methods that have been of help to me.

Break it down. Sometimes when I have a particularly daunting task, I look at the whole and just really don’t feel like tackling it. It helps me to break it down into smaller tasks. I’m not a big to-do list person on a daily basis except when it comes to planning large events for clients; then I live by my lists. If I look at the event as a whole, it can be overwhelming. But when I start breaking the event down into all the little things that need to be done, I’m faced with bite sized pieces which are much easier to, umm, digest. I know it can be just as overwhelming to look at a 5 page list of to-do’s but when you wade into the smaller bits, you can spend 30 minutes working on the project and mark off 10 items. Before you know it, you’ve whittled down a daunting list into a sea of checkmarks. I love that sense of accomplishment.

Relieve the stress. I find it easier to seek diversions when I’m feeling particularly stressed. I often feel stressed when I’ve had my head to into a project for too long. Sometimes I just need to walk away and change focus. It may help to go for a walk or spend 30 minutes playing with the dog. I’ll go throw a load of clothes in the washer, anything to reorient my brain for a few minutes.

Change up your routine. Occasionally I’m just lonely. Going from working in an office with dozens and dozens of other people to working at home alone can make it easy to be diverted by the TV or playing around on the web. When I sense that creeping in, I make a point to set up some lunch dates with friends. That brief interchange with others helps me come back feeling refreshed and ready to tackle things anew.

Schedule play time. Take a break. Schedule some slacker time into your schedule. You’re more likely to keep plowing through when you can look at the clock and see that it’s only 30 more minutes until you have your “legal” half hour of play time to surf the web, play a game or watch TV.

Create accountability. Even when you’re the boss, you may need to be accountable to someone. Now wait a minute, I’m not saying you need to go out and find a j-o-b again; there are other ways to be accountable. Find a group of like-minded folks to hang out with. In Think and Grow Rich Napoleon Hill talks about the concept of a Master Mind Alliance or I’ve more often seen them called a Master Mind Group. Each group is unique in that it is made of up unique individuals and the agenda belongs to the group but the general focus is on brainstorming, feedback, being a sounding board, accountability and working together to attain new heights.

Outsource/Delegate. In the case of the underbooked speaker, when we got down to it, he was having a problem following through when it came to keeping in front of existing and potential clients so that he was in the forefront of the event planner’s minds when they were deciding on speakers for their events. He was honest and said that just wasn’t something he enjoyed. We all have things that we really don’t enjoy doing but some things are harder to handle than others. If you have something specific that is holding you back, and it happens repeatedly, perhaps you need to hire someone else to do that for you. If you can’t afford to add to your staff, you may be best served by outsourcing that part of your business. Often other service professionals are willing to barter services in lieu of money.

I’ve saved for last; the two things that I feel are the greatest antidotes to apathy.

Get a vision/Renew your vision. Do you know where you’re going? If not, spend some time thinking about where you’re headed and find a way to keep that vision in front of you. I have my “dream board” in pictures and my personal mission statement plastered all over one wall in my office so that I see it every single day. If you know where you’re heading, remind yourself. Put up some pictures or quotes or statements that you will see every day to help motivate you to keep moving toward that dream.

Set goals/Refresh your goals. Do you have goals? I think that goals are one of the most important tools for anyone, business person or worker bee. Goals will help drive you forward. Goals should be set in increments instead of having one end goal in mind. The great thing about goals is that you can set those increments where ever they work best for you. I work with 3 month, 6 month, 1 year, 5 year and 10 year goals and revisit my goals every quarter to see if they need tweaking or realigning based on where I’m headed. Goals aren’t ever to be set in stone, just as we evolve, our goals should evolve with us.

Whether you find yourself faced with ignorance or apathy, don’t despair, both can be overcome. Information cures ignorance and information is readily available with the click of a mouse button, just be smart about it and double check the facts so that you make sure what you’ve found is really the information you need. However, apathy may be more difficult to overcome. It’s certainly not insurmountable, but there are several methods you can use to help keep you motivated. Try a few on for size and see which works best for you.

Happy entrepreneuring!

Katherine

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