Why Coaching is the Way to Go in Team Management

When you hear the word ‘coach’, what comes first into your mind? Do you picture a basketball team with a man/woman shouting out directions? Or perhaps a football team with a man/woman pacing to and fro and calling out the names of the players?
Coaching is no longer reserved to sports teams; it is now one of the key concepts in leadership and management. Why is coaching popular?
Coaching levels the playing field.
Coaching is one of the six emotional leadership styles proposed by Daniel Goleman. Moreover, it is a behavior or role that leaders enforce in the context of situational leadership. As a leadership style, coaching is used when the members of a group or team are competent and motivated, but do not have an idea of the long-term goals of an organization. This involves two levels of coaching: team and individual. Team coaching makes members work together. In a group of individuals, not everyone may have nor share the same level of competence and commitment to a goal. A group may be a mix of highly competent and moderately competent members with varying levels of commitment. These differences can cause friction among the members. The coaching leader helps the members level their expectations. Also, the coaching leader manages differing perspectives so that the common goal succeeds over personal goals and interests. In a big organization, leaders need to align the staffsí personal values and goals with that of the organization so that long-term directions can be pursued.
Coaching builds up confidence and competence.
Individual coaching is an example of situational leadership at work. It aims to mentor one-on-one building up the confidence of members by affirming good performance during regular feedbacks; and increase competence by helping the member assess his/her strengths and weaknesses towards career planning and professional development. Depending on the individualís level of competence and commitment, a leader may exercise more coaching behavior for the less-experienced members. Usually, this happens in the case of new staffs. The direct supervisor gives more defined tasks and holds regular feedbacks for the new staff, and gradually lessens the amount of coaching, directing, and supporting roles to favor delegating as competence and confidence increase.
Coaching promotes individual and team excellence.
Excellence is a product of habitual good practice. The regularity of meetings and constructive feedback is important in establishing habits. Members catch the habit of constantly assessing themselves for their strengths and areas for improvement that they themselves perceive what knowledge, skills, and attitudes they need to acquire to attain team goals. In the process, they attain individually excellence as well. An example is in the case of a musical orchestra: each member plays a different instrument. In order to achieve harmony of music from the different instrument, members will polish their part in the piece, aside from practicing as an ensemble. Consequently, they improve individually as an instrument player.
Coaching develops high commitment to common goals.
A coaching leader balances the attainment of immediate targets with long-term goals towards the vision of an organization. As mentioned earlier, with the alignment of personal goals with organizational or team goals, personal interests are kept in check. By constantly communicating the vision through formal and informal conversations, the members are inspired and motivated. Setting short-term team goals aligned with organizational goals; and making an action plan to attain these goals can help sustain the increased motivation and commitment to common goals of the members.
Coaching produces valuable leaders.
Leadership by example is important in coaching. A coaching leader loses credibility when he/she cannot practice what he/she preaches. This means that a coaching leader should be well organized, highly competent is his/her field, communicates openly and encourages feedback, and has a clear idea of the organizationís vision-mission-goals. By vicarious and purposive learning, members catch the same good practices and attitudes from the coaching leader, turning them into coaching leaders themselves. If a member experiences good coaching, he/she is most likely to do the same things when entrusted with formal leadership roles.
Some words of caution though: coaching is just one of the styles of leadership. It can be done in combination with the other five emotional leadership styles depending on the profile of the emerging team. Moreover, coaching as a leadership style requires that you are physically, emotionally, and mentally fit most of the time since it involves two levels of coaching: individual and team. Your members expect you to be the last one to give up or bail out in any situation especially during times of crises. A coaching leader must be conscious that coaching entails investing time on each individual, and on the whole team. Moreover, that the responsibilities are greater since while you are coaching members, you are also developing future coaches as well.

Why are entrepreneurs so worried about social media?

This post is by Robert Jones, communications consultant and contributing editor to SmartBrief on Entrepreneurs.

Entrepreneurs dread social media. That’s the takeaway from a recent poll of 258 SmartBrief on Entrepreneurs readers, which found that entrepreneurs would choose to outsource social media before any other single business function. Check out the results:

If you had an unlimited budget, which function of your business would you most like to outsource?

  • Social media — 28.57%
  • Other — 25.11%
  • Public relations — 19.91%
  • Sales — 16.45%
  • Customer service — 9.96%

When did social media become such a chore — and why? I asked four experts to take a look at the poll and offer their feedback. Here’s what they had to say:

  • “It’s not considered important enough to engage [entrepreneurs’] attention at this point. And I don’t believe there are sufficient success stories with social media for that to change soon. It’s interesting to speculate whether social media will remain vibrant long enough for it to be of great importance to the vast majority of small businesses. So many large corporations and sophisticated marketers are moving into the space so rapidly that it seems possible that it will become pervasively commercialized much more quickly than the Web at large.” — JournalistMark Henricks (@bizmyths), who blogs on small-business myths at The Debunker.
  • “There’s still a lot of confusion among small-business owners, especially those who run offline businesses. … I think part of the problem is that entrepreneurs are under the impression that they need to use every social media tool out there to be effective. They’re on Twitter, they’re on Facebook, they’re blogging, and they’re trying to integrate all of these mediums together in a strategic way. That’s actually counter-intuitive — small businesses should outline their goals and then pick the platforms that will help achieve them.” — Erin Bury (@erinbury), the community manager of Sprouter.com.
  • “I think entrepreneurs need help in figuring out how to get some [return on investment] back on what they do. It’s best to start with the medium most of your customers are using, but it takes time, effort and some amount of money to figure that out. I wonder if part of the problem is … the small-business press and the social media ‘experts.’ We keep telling them all the things they have to do, without really telling them where to find the resources, including time. … [O]utsourcing social media mostly takes the social out of it. You can outsource the blogging, and some of the more mechanical aspects of social media. But I think transparency is key.” — Rieva Lesonsky (@rieva), CEO of GrowBiz Media and SmallBizDaily
  • “Maybe a lot of entrepreneurs look at social media as something vaguely frightening, like a skill they don’t have, something that wasn’t taught in school, something seemingly oblivious to gray hair and experience. Facebook started on college campuses just a few years ago, so some of the more experienced social media people are barely out of college. And Twitter’s what, 3 years old? Maybe 4? I’d suppose we could give the hesitant ones credit for knowing what they don’t know, except that nobody else knows; it’s all been a matter of just jumping into the fray.” — Tim Berry(@timberry), the founder of Palo Alto Software, blogs at Planning Startup Stories.

Self-improvement seminar for good leaders

What are you? A leader or a follower?
We can all become leaders and also followers. Both are important but the leader sets the good example for his/her followers. A good leader has a good follower.
If you think you are not a good leader, maybe you should have a self-improvement seminar.
Self-improvement seminar for leaders is training them to be good to the followers.
There are a variety of self-improvement seminar for you. But leadership training seminar is the best for you.
In order to be a great leader, one must possess various qualities that will attract followers. The following qualities are just of few of the many qualities that are vital for effective leadership:
1. Charisma- charismatic leaders have the gift to touch people through their choice of words. Charismatic leaders are alluring, charming and can encourage followers to support a grand vision or idea.
2. Positive Attitude – A leader who has a positive attitude will influence his/her followers to carry that same attitude. A good example of a leader with a positive attitude could be a parent or teacher.
Mothers, fathers, or elementary teachers appear and are viewed as role models to the young children they are teaching and nurturing.
These role models are the first leaders they encounter in life. Children become very dependent of leaders because they are their vehicles to the outside world and provide much needed help and assistance.
If a parent is nurturing and loving to their child, they will thrive under this encouragement.
If a school teacher provides a positive learning experience to the child, they will succeed and that success will become contagious… In any circumstance, a leaderís positive attitude will have greater impact and influence on their followers.
3. Motivation – In an athletic world, a motivating leader could be a coach, trainer or even a fellow teammate. While the talent of players is a good determinant of a winning team, their coach is also an important factor.
If a coach can not produce a winning team, his job is at stake. A coachís motivation involves infusing his players with high standards, and setting challenging but attainable goals as they perform well. Thus, his/her ability to motivate his players will enhance their performances.
Motivation also correlates with having a positive attitude. When a coach has a positive attitude and provides a positive environment for his players, then the team will most likely be motivated to move in his/her direction where ultimate success can be found.
4. Assertiveness – A leader has the responsibility to guide the direction of his or her company. When a leader is firm and assertive in delegating tasks to his subordinates, they will hold a greater respect to follow through on their assignments.
An assertive leader has the ability to convey enforcement without being too autocratic or threatening to their subordinates.
Furthermore, an assertive leader should not make his subordinates feel like theyíre in a hostile environment. Instead, an assertive leader should respect his people, and require proper accountability at the same time. A leaderís assertiveness and confidence earns respect. With that respect, people are much more likely to follow, help, and emulate their leader to achieve success.
Self-improvement is important for leaders. Attending self-improvement seminars may be a good help in being a good leader.

“The Game of Life” Start your own coaching: 7 days program

Have you ever been a coach to a neighborhood team? I know how it feels the first time I’ve coached a team of seven-year-old soccer kids and how much they can really test my patience, not to mention sanity as they run around kicking the ball like ants to a huge, white crumb. It feels strange at first, having to be stared at by a bunch of kids who they will know that I’m not the one in the field. Sounds wrong in a sense, right? But what is the dead about coaching?
Coaching is all about being a, well, ‘coach’ in the corporate world of handlers, front-liners and even a couple of benchwarmers biding their time to be given a chance to perform. I know how that feels when I go back to my regular day job. Some players are just MVP material, and some of them are just to support the MVP’s so why bother sticking around? It sounds ironic when they say ‘there is no I in team’, but even the underachievers can be sore losers as well.
These are steps that can be done within the day, and no matter what, it takes determination to be a coach.
1. There is a WHOLE lot of talk these days about Corporate Team Building. There are many, many options: vacation packages, rope courses, on-going office games, ice-breakers, etc. Management can also purchase videos, books, and seminar packages to assist them in building up their organization into a team worthy of belonging. A little later I will give you some ideas of where you can go for information on these team-building tools.
2. The truth about motivation is waiting to be grasped! It is ripe and ready for you to put into action today. Don’t settle for mind-numbing gibberish. Get practical in 3 small ways to begin looking forward to your alarm clock sounding off each morning before you huddle with the team.
3. Experience is the best thing despite of what course you graduated in. There is something about being a people person who knows how to stir the energetic side of one individual, and more so when you mix it up with an entire team.
4. To question a person by his or her performance is sometimes required, but never question their knowledge or their intelligence. Sadly, I have seen a few mistakes from past coaches who never seem to understand what a player has to go through to get the job right. It will lead to further aggravation and maybe even hostility. If you want the job done right, then go do it yourself. You’ll see how it is to be at the receiving end and it will help your set a much better course for improvement.
5. Sending a player to the bench is probably the worse experience a coach has to go through, especially if your player is the top performer. In dealing with this kind of person, see to it that he spills his guts voluntarily. Egotism in a performer tends to make them lose their focus on even the smallest mistakes, then you can catch him or her red handed. Be firm, but understanding about it.
6. Don’t allow your position to blind you from what you are supposed to do. Even coaches are human enough to think that they are far more superior, but only by rank. Even if you have been in their shoes when you were their age, it’s better to dole out a piece of wisdom in order for them to realize that this will be for their own benefit.
7. Lastly, you should learn to trust yourself and your team. Decisions and performance are primarily your goals, and there are many of them to see if they could perform the task much more efficiently. So before you think about sending one member to the bench, have a good chat with him or her and see if they have any problems. If it’s too personal, then just encourage them to do their best and it also helps to give them a good, encouraging slap on the back.
I guess there’s all there is to it. Being a corporate drone myself, I know how important it is for a company to be successful, and we’re all part of that success. Coaches are there not to make your work a little difficult just because you have either an attitude problem or not much a performer, but they’re the guides who will help you perform as hard as you can possibly can. You’ll do them proud one of these days, as well as you.

Frugal Marketing for Entrepreneurs

How many e-mail messages do you send everyday?  You’re probable missing out on a simple, inexpensive marketing tool.  Seize the opportunity to promote your business to a highly targeted market without spending a dime by utilizing your e-mail signature line.

If your email signature line only contains your name and contact information, you’re missing out on advertising to e-mail recipients that have opted for communications from you.

These people are key members of your unofficial marketing network.  They are your prospects, clients, press contacts and colleagues and your signature line is the perfect, unobtrusive space for a unique promotional pitch.

Try these tactics to turn your “sign-offs” into sales:

  • Highlight what your company offers.
  • Offer an incentive for recipients taken a specified action.
  • Use the associated web address for the incentive, if it’s also on your site.
  • Give better visual positioning to the promotion rather than contact info.
  • Play with eye-catching fonts and colors.
  • Use less than 64 characters/line so that words don’t wrap to a new line.
  • Write a “signature” for different categories of recipients.
  • Change your signature copy frequently.
  • Never miss a chance to get your product or company noticed.

Another thing that many entrepreneurs don’t think about is the letters they send out.  They are merely accepted as solving a problem or answering a need, when you can carry the e-mail idea over into every piece of mail you generate.

On the company letterhead simply add a line at the bottom of page 1.  It could be a “tag line” of sorts made up of a slogan that “brands” your services or business.  Try to come up with something unique so that every time it’s heard the prospect thinks of you.

Examples of this would be, “Good to the last drop,” which of course is Maxwell House Coffee.  “Finger-lickin’ good,” which is KFC chicken, and so on.  You get the message of what I’m saying.  Play around with this until you come up with a pearl that is uniquely you.

If your business/service does not lend itself to this idea, then focus on increasing your credibility by using a “membership” tag line.  For instance a funeral home would be less than tasteful using the line, “Our clients are dying to visit us;” but they COULD use the line “Members of Undertakers Assoc. of America” at the foot of their letterhead.  This establishes immediate credibility in the mind of the recipient, even if the letter they received was a direct mail advertising letter.

When you’re an entrepreneur in today’s marketplace you have to be inventive and creative to buck the “big boys” on the block. I suggest that every entrepreneur read about the life of P.T. Barnum to get a better understanding of a truly great entrepreneur.

It isn’t always the almighty dollar that gets the best advertising for our business; it’s the best IDEA that makes you stand out in the crowd.

Guerilla Marketing vs. Big Bucks

Many entrepreneurs market via outreach events, be it trade shows or presenting seminars, and budgets to schmooze clients and impress friends are getting tight.

Now that the economy is back in the spotlight, with gasoline at $2.60+ a gal., big companies announcing layoffs, and prices rising across the board, the time is here to tighten our belts and squeeze that marketing dollar until it squeals.  Believe me the rhetoric that the economy is getting better is just that – political rhetoric, and isn’t coming from the business community in the trenches.  We know better!

Even though lavish budgets are history, the creative entrepreneur can still use events as a marketing tool if he/she rolls up sleeves and goes into “guerilla marketing” mode.  Creativity is the key!  The time for promoting an event and waiting to see who registers within 6 to 8 weeks is past.  The first’s thing to remember, is that no amount of cajoling, marketing, or freebies will compel attendance at your event if it doesn’t offer real value to the attendee.

People expect to be exposed to valuable content, and aren’t attending just for the networking.  With that as a given, let me give you some guerilla marketing tips.

  1. Save the expensive advertising you usually do 6 to 8 weeks before the event and use “referrals”.  Many of your pasts attendees are either employees of companies or in business themselves, and have contacts and friends they talk with regularly.  This source is often overlooked, and you’ve got direct access to them.  Send them an invitation as if they were customers, and ask them to pass it on to one or two people they know that might be interested.  You could even make it more enticing by having a form at the door for attendees that asks who referred them, and providing some incentive for the person that referred the most attendees.
  2. Don’t overlook clubs, associations or other local groups.  Many not-for-profit groups have charters that state their members will be informed about opportunities that will enhance their membership, career and education.  Put together a promotional kit announcing your event, an agenda, and offering a discount to the group’s members.  You can also offer the association something for free – a full registration, print ad, magazine rack, exhibit space or a sponsoring logo on your Website – whatever is feasible in you line of business.  Don’t miss the opportunity of offering your services as a speaker at some of the group or association meetings, and even bringing some event brochures with you after you have the leader’s approval.
  3. Local business – the bookmark brigade.  If your event relies heavily on local participation, then work through the businesses used every day.  A most successful and fun outreach program is to implement a Bookmark Brigade on behalf of the businesses.  These are special announcement bookmarks printed with the name of the event, dates, location, and Website on one side and the local business name on the other.  Make them big and bright, and get a team loaded with bookmarks to visit every business shop, coffee shop, bookstore, grocery stores, newsstands, cleaners, music stores, and libraries all over the area.  Some stores may even let you hang a poster.  Give something to the manager or in-store sales personnel as you do this.  Maybe a free T-shirt, or pass to the event.  The printing bill is bound to run less than half or full-page ads in the relevant weekend newspapers.
  4. Your event sponsors and exhibitors are your best allies, as well as a support network of resources for recruiting attendees.  Twenty percent of them will support your event because they can, the rest won’t due to limited resources or conflicting agendas.  Use any of the tools already mentioned with your partners, or trade a contact database of theirs to be used for telemarketing for promoting the sponsor in the telephone blitz.  Offer this database a discounted rate and attribute the discount to the sponsor for their client.  Everyone wins!
  5. Offer your sponsors tools like posters or tabletop signs they can post in their lobbies.  Visitors can learn about the event while waiting for their appointments.  This expands your word of mouth, and may even draw additional sponsors.  Of course, you’ve already negotiated an event logo and listing presence on your sponsor’s website – haven’t you?

Some key points to remember in any outreach promotion are to build in a tracking method on each marketing piece, such as unique URLs and/or codes on registration.  Be ready to offer incentives such as discounts or gifts to gain access to clubs or sponsors members, lists or audience.  Lastly, have the appropriate marketing tool kit ready before you start.  It should contain such things as Web banners, email templates, sample sales copy, and special offer announcements packaged for easy access.

In good times or bad, these tips will help any entrepreneur draw more interest in their activity or event.  A good outreach program promotes special relationships with your sponsors, community and attendees better than any other marketing activity can before the event.  Using guerilla marketing tactics in lieu of bucks takes creativity, elbow grease, and luck.

Why Coaching is the Way to Go in Team Management

When you hear the word ‘coach’, what comes first into your mind? Do you picture a basketball team with a man/woman shouting out directions? Or perhaps a football team with a man/woman pacing to and fro and calling out the names of the players?
Coaching is no longer reserved to sports teams; it is now one of the key concepts in leadership and management. Why is coaching popular?
Coaching levels the playing field.
Coaching is one of the six emotional leadership styles proposed by Daniel Goleman. Moreover, it is a behavior or role that leaders enforce in the context of situational leadership. As a leadership style, coaching is used when the members of a group or team are competent and motivated, but do not have an idea of the long-term goals of an organization. This involves two levels of coaching: team and individual. Team coaching makes members work together. In a group of individuals, not everyone may have nor share the same level of competence and commitment to a goal. A group may be a mix of highly competent and moderately competent members with varying levels of commitment. These differences can cause friction among the members. The coaching leader helps the members level their expectations. Also, the coaching leader manages differing perspectives so that the common goal succeeds over personal goals and interests. In a big organization, leaders need to align the staffsí personal values and goals with that of the organization so that long-term directions can be pursued.
Coaching builds up confidence and competence.
Individual coaching is an example of situational leadership at work. It aims to mentor one-on-one building up the confidence of members by affirming good performance during regular feedbacks; and increase competence by helping the member assess his/her strengths and weaknesses towards career planning and professional development. Depending on the individualís level of competence and commitment, a leader may exercise more coaching behavior for the less-experienced members. Usually, this happens in the case of new staffs. The direct supervisor gives more defined tasks and holds regular feedbacks for the new staff, and gradually lessens the amount of coaching, directing, and supporting roles to favor delegating as competence and confidence increase.
Coaching promotes individual and team excellence.
Excellence is a product of habitual good practice. The regularity of meetings and constructive feedback is important in establishing habits. Members catch the habit of constantly assessing themselves for their strengths and areas for improvement that they themselves perceive what knowledge, skills, and attitudes they need to acquire to attain team goals. In the process, they attain individually excellence as well. An example is in the case of a musical orchestra: each member plays a different instrument. In order to achieve harmony of music from the different instrument, members will polish their part in the piece, aside from practicing as an ensemble. Consequently, they improve individually as an instrument player.
Coaching develops high commitment to common goals.
A coaching leader balances the attainment of immediate targets with long-term goals towards the vision of an organization. As mentioned earlier, with the alignment of personal goals with organizational or team goals, personal interests are kept in check. By constantly communicating the vision through formal and informal conversations, the members are inspired and motivated. Setting short-term team goals aligned with organizational goals; and making an action plan to attain these goals can help sustain the increased motivation and commitment to common goals of the members.
Coaching produces valuable leaders.
Leadership by example is important in coaching. A coaching leader loses credibility when he/she cannot practice what he/she preaches. This means that a coaching leader should be well organized, highly competent is his/her field, communicates openly and encourages feedback, and has a clear idea of the organizationís vision-mission-goals. By vicarious and purposive learning, members catch the same good practices and attitudes from the coaching leader, turning them into coaching leaders themselves. If a member experiences good coaching, he/she is most likely to do the same things when entrusted with formal leadership roles.
Some words of caution though: coaching is just one of the styles of leadership. It can be done in combination with the other five emotional leadership styles depending on the profile of the emerging team. Moreover, coaching as a leadership style requires that you are physically, emotionally, and mentally fit most of the time since it involves two levels of coaching: individual and team. Your members expect you to be the last one to give up or bail out in any situation especially during times of crises. A coaching leader must be conscious that coaching entails investing time on each individual, and on the whole team. Moreover, that the responsibilities are greater since while you are coaching members, you are also developing future coaches as well.

Why Life Coaching Is Getting Great Press

Life Coaching is all the rage. Improving oneself is in and a medical definition of your problem is not so great to hear. The Life Coaching profession in America is booming. Therapist out life coaches in.
What Does A Life Coach Do
Generally speaking a life coach helps people empower themselves by learning to recognize key things about oneís feelings and thinking. There are a lot of discontented people in America and they would to get their lives revamped. The problem with this profession is that it is yet to be regulated and a formal set of education has not been established.
A life coach in unlike therapists because they do not rescue the deeply depressed they only wish to guide people whose lives are only slightly askew. In short life coaches are someone you work with in order to set your goals straight and for you to follow those goals. Life coaches do not delve on the past history of clientís life. Instead they tackle today and the future.
Who Get Coached?
For those macho men who hate getting into the emotional stuff life coaching is extremely popular. Whatís more, because life coaching takes on a sports persona kids and families in general respond better to the programs. Life coaching is not all about talking, a guide gives certain activities where in there is equal cooperation.
The Downside of the Matter
The problem with life coaching is that it is an unregulated profession. Although a lot of life coaches have trainings and education regarding this field, still a number remains undisciplined in this arena. The life coaching profession has no basis for qualification, no unified approach as to what makes a life coach a life coach. Most of the guiding practices are unproven and no extensive studies have been done.
These unproven methods pose a certain risk because life coaches are not equipped to recognize if their clients have serious mental illness and therefore will have to see the appropriate physician. The guide might put him/herself and the client in danger.
The need for a cheerleader, a planner, a sort of life secretary if you will is a good premise, but what people really need is more than that. What if the life coach fails to see the signals that a certain person is not only in need of a pick me up but is actually in serious trouble? Experts are getting wary, they want mental professional to enter the field of life coaching because they are better able to analyze a personís psyche and actually deliver the appropriate needs.
In the past, life coaching was used as a business motivational tool. Human resources see that high powered executives do get restless and might want to evaluate their lives. Life coaches are used to help those worried individuals see reality and appreciate what they have while going after what they are passionate for.
In Closing
Unlike popular belief, life coaching is not a quick fix. The session can take months and months of activities in order to really see ones self clearly in connection to reality. Life coaching is interactive, it is positive, it moves forward. These are the reasons why life coaching is actually good for people. The emphasis however is on whether a life coach is qualified to be one or not.

Life Coaching For Those Buried In Debt

The financial crisis has brought everything to a head. For a supposed super power the United States of Americaís citizens is impoverished, and relying heavily on welfare. Every one is fighting to keep there heads above water and under a roof to call their own. Michiganís auto industry has completely collapse. Giants are begging for a bail out to keep them afloat.
Financial Struggle
You know youíre not alone. The news about foreclosures, high credit card debts and bankruptcy is a national phenomenon. The knowledge that everyone else is down on their knees should not make you complacent, because in the first place: why are you in that situation? Granted millions of people have committed the same mistakes that you have. In the end however, you should have been keen enough to recognize that you were going under.
With everyone clamoring for help, the internet has taken advantage and a lot of people are claiming as experts in the field of credit. Unfortunately their supposed help will probably set you back even more than you already have. You do not need an expert on finances, all you need is someone to make you see within your self and realize what you did, and what is happening is your own doing and could only be undone by you.
Getting back in Financial Shape
The key to getting financial power and control back is learning how to budget. Taking time off to sit down and review the amount of money you make against your expenses is the first step to gaining financial freedom. The most basic step is often the one thatís bypassed because everyone thinks that they have great control over their spending habits. Do not leave everything into in to chance, its better to have things written down, because then you are unlikely to forget it.
Identify, and Calculate
The second step is to write the things you do in a daily basis for a period of one week. In that one week how many times did you go to the grocery? Eat out? Have a drink? Give in to the temptation and buy that perfect pair of shoes which go so well with your new hand bag and designer clothes?
Did you know that making one trip to the grocery store with a weekís list of needs and commodities will actually make you some extra money left over for savings? Going to the grocery ones a week saves you gas, time, and unnecessary spending.
As you eternalize, you will find out that you dug the hole you are in. More often than not you know that you are not supposed to buy to cute jimmy chooís because you cant afford it and yet you still purchase the thing. The absolute realization is that impulse gets you into trouble. So what should you do?
Life Coaching Tips
The use of a life coach to straighten up financial mess is also a good idea. Life coaching makes us more aware of our selves as a person. We see the good, the bad, and the ugly all rolled into the life that we currently are leading. Life coaches burst your bubble for you to pinpoint your own weaknesses, realize your goals and take action to make your life better.


Checklist for Starting Up your own Business

Use this comprehensive checklist to plan each step of your new business and transform your dream of entrepreneurship into reality. These steps may not necessarily be completed in the order listed; however, you can use them as a guideline for completing all of the necessary business startup tasks.

  • Determine what kind of business you want to start.
  • Learn about the industry for your business.
  • Analyze the market for your business.
  • Study your competition.
  • Educate yourself on running a business.
  • Join trade associations.
  • Name your business.
  • Perform a trademark search.
  • Register a domain name.
  • Design a website.
  • Obtain a logo.
  • Determine business structure (sole proprietor, partnership, or corporation).
  • Evaluate your personal budget.
  • Write a business plan.
  • Write a marketing plan.
  • Locate financing.
  • Create a list of start-up supplies with budget.
  • Set up a system for accounting and payroll.
  • Apply for business license, fed tax ID, fictitious business name.
  • Select a location and set up shop.
  • Order signage.
  • Obtain business tools (computer, printer, fax, postage, office supplies, and fixtures).
  • Order business stationery (business cards, letterhead, brochures).
  • Obtain inventory.
  • Create an operations and employee manual.
  • Hire employees.
  • Set a launch date.
  • Plan a grand opening event.
  • Send announcements to everyone you know.
  • Send press releases.
  • Turn on the OPEN sign!
  • Revisit your business plan and update often.
  • Evaluate your marketing strategy often.
  • Prepare a realistic business plan.

Think of this as your business road map. Define exactly where you want to get to with your business and then you can effectively map out your path towards achieving your goals!

By creating a detailed business plan you should cover all options and eventualities and have a clear future vision that will guide you through the rest of the start-up processes.

Your business plan should encompass the financial considerations of starting your small or home based business:

  • Do you have the capital required?
  • Do you need to raise additional funds?
  • Who are you going to approach for finance?
  • Who do you trust for advice?

And don’t forget to open a business bank account…
Consider the legal implications of becoming a business owner and proprietor.

  • Are you better off as a sole trader, a limited company or are you considering a partnership?
  • Make sure you consider all the angles and protect yourself and your assets personally from the outset.
  • Anything you bring to the business has to be itemized, valued…even if you’re a sole trader.

And make sure you are professionally covered with the appropriate business indemnity insurances.

Get your family and friends behind you from the get-go.

  • Make sure your family and friends are fully understanding and supportive of your ideas to venture into small business start-up.
  • Do they understand the level of commitment you will have to show for on-going and long term success?
  • Their belief in you and continued support of you will work wonders towards your on-going success, so don’t forget to look out for them too.

Protect your family, protect your business.

  • If, God forbid, something were to happen to your health, how would your business survive, how would your family cope?
  • Consider insurances – from health, critical illness and income protection insurance to life insurance – and consider your pension and long term financial security.

Face those ‘taxing’ questions from the start.

  • Your small or home based business has to consider its taxation situation.
  • Do you need to register your business for sales tax purposes; have you informed your tax office of your business’s inauguration?
  • Do you have a good tax professional lined up to guide and assist you?
  • The bottom line when it comes to taxation is that from the outset you need to make sure your papers and books are in order, this will save you time, money and heart ache in the long run.

Prepare realistic and achievable goals and targets for your first year.

  • Do not expect to conquer the world with your first year’s business returns.

Starting a business is a life changing undertaking and one you must be patient with. The rewards are there, but make sure you set yourself achievable targets – when you reach them they will give you the confidence and satisfaction to set new goals and to continue building your business’ success.

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