Daily Archives: April 7, 2020

The top FOUR reframes for looking at Time, Money, and Success

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As I marched into the living room grabbing my laptop to begin tackling just one more project, I barked at my husband, “I don’t have enough time.” After all he did was so kindly offer a suggestion for my business. This was the stark reality of what my life was becoming when I entered my first business. I truly believed that more time in the business was the only vehicle to more income and more success.

Luckily, I was able to disarm this lie pretty quickly and I will preface this with, if I had not disarmed this immediately, I would not own a business today.

MORE TIME DOES NOT EQUAL MORE SUCCESS

Believing that more time spent in the business equals more success is a lie. Yes, time is certainly a factor, but working smarter not harder is truly the secret sauce. From then on I decided to lead with simplicity and intentionality in all that I did.

Now I want to share with you the top FOUR reframes for looking at time, money, and success differently.

These are rooted in simplicity, aren’t glamorous, but I promise, will help propel your success that much faster.

1. BELIEVE THERE IS PLENTY OF SUCCESS TO GO AROUND

Believe there is plenty to go around (abundance mindset) and do not say yes out of scarcity because it will bleed into the next tip.

I see so many entrepreneurs at varying stages in their businesses say yes to a project, contract, collaboration, basically any type of opportunity because of FOMO.

Let me just say that often these clients and opportunities are enticing and maybe they “could” be that stepping stone in getting you to where you want to be. However, here is a question I offer my clients to help them say yes from their best mindset, “if you were in the place you wish to be in six months, would you say yes to this client or opportunity?”

I am all for taking what you need to take to get started and seeing opportunities as stepping stones, but people tend to forget that opportunities are endless and that just as quickly as that one came, another will be on its way.

I say this because I want you to know and believe that you don’t have to take the breadcrumbs. There will always be another and better opportunity. Take some time to say yes. Often if you wait even just a few days, another one will have already presented itself, which could be even more ideal!

2. DON’T SCALE SO QUICKLY

This one is part two from the first tip. Here’s something to chew on, when you do your work with excellence, word will spread quickly—people will start talking about your ethic and happily share with others. 

And unfortunately, I see so many talented business owners have difficulty setting limits with themselves. They set out to take on a set amount of work, but they begin getting word-of-mouth referrals and rather than set a limit and say “I am booked solid at the moment and can put you on the waitlist or I’d love to offer you a referral,” they instead say YES and later shoot themselves in the foot.

I see this happening more often than you would think and it’s that fastest way to lose your business.  They are excited to see all the work come in so they do one of two things, take it all on themselves and spread themselves so thin, or begin contracting work or hire on someone to take on the work because they don’t want to miss out on an opportunity.

Then what happens next? They can’t keep up. They’ve maybe had a business just a few years, have never had employees, and realize they can’t keep up on their work, their contractors work, and the quality plummets.

Those loyal and happy customers are no longer happy anymore and decide to find someone else to replace you. Just as quickly as word of mouth spreads from happy customers, unhappy customers spread twice the speed. Now you are stuck paying a contractor or employee with no customers to serve. I know this may sound harsh, but I can’t tell you how many times I’ve seen this happen.

So in a nutshell, don’t scale too quickly. Grow a solid base of happy and loyal customers. Serve them and serve them well. Keep that waitlist. Once you’ve got a good handle on running a FULL business, time management, and really have some trustworthy people you might be able to slowly pass some work to (not out of scarcity), then slowly scale.

3. SET REALISTIC INCOME GOALS

Set realistic income goals where you won’t burn out. This also plays off of the last point, don’t set an income goal for yourself just because.

It’s so important you are intentional with your reasoning behind your money goal. I hear so many new entrepreneurs say, “I want to have my first 10k month before Q2 for the year.” Ok that’s cool, but why? And how?

You made 3k in your business each month so far and now you want and need to make 6k extra starting next month? Just doesn’t make sense!

How about we first look at how long you’ve been in business, how much time you have to pour into your business, what type of resources you already have set up in business, then ask yourself, do I have the capacity to take on that much extra work right away (without burning out)? And lastly, where will this money go?

If there is no intention behind why you want to make it and you set that number only because you think you should or it sounds successful, you will not hit it.

Here is a reason to want to hit a specific goal, “to have enough money leftover that I can make a big dent in my student loans or to have enough saved up for our dream honeymoon.” When you can visualize where the money will go, it makes it more tangible.

But then ask yourself, “realistically, how long will it take me to pay off my student loan or save up for that honeymoon without burning out?” Set little mile markers based off of your past earnings, time available, and resources to help support this goal. Set yourself up for SUCCESS friend!

4. BET ON YOURSELF FIRST

I see so many entrepreneurs reinvest all of their money into ads before they fully understand what their business even is. Even in year FOUR of my coaching business, I’m hiring an agency for the first time to set up ads for my book launch. I’ve dabbled with them in the past and have only lost money.

I think it’s crucial those first few years to really understand the buying behaviors of your customers. Get to know who these people are. Who is saying yes to that discount code you are offering? Who is engaging with you on social media?

Really jump into the trenches. Get dirty. Learn who your people really are and learn their buying behaviors.  Yes, it may take a little longer to grow your business this way, but it’s a heck of a lot safer betting on yourself than some ads that could possibly bring in a potential customer or a small sale. Friend, trust me on this one!

If you can keep these four reframes top of mind, I assure you that you will feel more confident, fulfilled, and at ease throughout your business journey!


This article by Kate Crocco was originally published at honeybook.com

Contributed Post. This article first appeared on Honeybook.com

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Life in the Stimulation

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Originally posted on March 26, 2020 on changeroots.com.

What’s the latest?

  • Cases / Deaths: US : 80,857 / 1,163;  Italy: 80,589 / 8,215; World : 524,010 / 23,670
  • U.S. health response: Testing and tracking are crucial to curbing the spread; the U.S. isn’t doing enough of either.
  • Economic response: The Senate passed a stimulus bill twice as large as one from the 2008 financial crisis. The House votes on it tomorrow, Friday March 27th.
  • Bottom line: The more COVID-19 spreads, the more people die, the more drastic actions the government must take, and the more economic damage occurs.

Economic Impact: 

  • How bad is it: The initial economic decline from the COVID-19 will likely be sharper and more painful than during the 2008 financial crisis. Unemployment could reach 20%, compared to 10% in the 2008 crisis. 
  • Gov response: The Senate just passed a $2 trillion stimulus bill. This is in addition to $8 billion for vaccine research and $100 billion in economic aid already passed. Tomorrow, Friday, March 27, the House will vote on it.
  • Compared to 2008: The 2008 stimulus and industry bailout bills totaled $1.4 trillion.

What’s in the stimulus bill?The stimulus is an attempt to boost employment and economic output through grants, loans, and tax breaks to state and local governments, individuals, and businesses both large and small.

Who gets what? Source Politico

  • Individual Americans: 
    • Single Americans who make under $75,000 would get $1,200
    • Married couples who make under $150,000 would get $2,400
    • Parents would see $500 for each child under age 17
    • People who are unemployed would get an extra $600 per week for up to four months (in addition to state unemployment) 
  • Airline and other industry loans: $500 billion
  • Hospital Industry: $100 billion 
  • State and local governments: $150 billion

How does it compare to the 2008 stimulus 

The 2008 stimulus and industry bailout bills totaled $1.4 trillion. 

  • Individuals would receive up to $600
  • Married couples would get up to $1,200
  • Those with children would be sent $300 per dependent child

Did the 2008 stimulus bill work?

The recession ended in July 2009, five months after Congress passed the stimulus. Economic growth immediately improved. It expanded 1.5% in the third quarter of 2009 after shrinking 4.4% in Q1 2009. Within 18 months, the economy added 4.1 million jobs, after losing more than 500,000 jobs a month during the recession.

Our Post-Partisan Take

This crisis is forcing both parties to remember that everyone’s common goal should be serving the American people. The Senate voted unanimously on this bill with aspects of it that each party had to compromise on. Hopefully, this can carry forward in tackling problems beyond COVID-19 and result in more prompt legislation.

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Hacks To Save On Your Auto Insurance

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What is auto insurance?

Auto insurance is essentially a contract that offers protection if you have an accident or your car is stolen. You pay a set premium, and then your insurance company will pay out your losses, as stated in the policy. Auto insurance offers coverage for liability, for example, if you injure others or their property. You’ll also get coverage for medical expenses, for instance, the expense of treating any injuries you sustain. Auto insurance also covers costs associated with damage to your own vehicle or theft. Of course, there are plenty of different auto insurance policies out there, and not all are the same price. To save money on your auto insurance, try the following hacks.

1. Improve your credit rating 

Many auto insurance companies will check your credit rating to determine which kind of policy they can offer you. Supposedly, auto insurance providers view an excellent credit rating as an indication of a responsible person, who is not a risk to insure. Now, this may not be the case in all circumstances; however, improving your credit rating is one way to get yourself a good auto insurance deal. There are a few sites online where you can check your credit rating for free.

2. Look for discounts 

Some Auto Insurance providers offer discounts under certain circumstances, so when you’re looking to bag yourself a good deal, it’s useful to know which discounts are available. Low mileage discounts are available for drivers who habitually keep their mileage average or below average, so if this is you, it’s worth checking if you qualify. Another discount available is a ‘multi-policy discount,’ meaning that you will pay less if you buy another policy from the same provider. The second policy could be life insurance or home insurance, for instance.

3. Compare costs

It’s impossible to save money unless you compare prices first. You might be tempted to renew your current auto insurance policy, but if you don’t shop around, you could be missing out on a better policy elsewhere. There are several handy price comparison websites online which will allow you to suss out the best deals!

4. Increase your deductibles

When you are looking for auto insurance, you can generally pick a deductible that suits you. A deductible means the amount of money it will cost you to get your insurance provider to payout ( if your vehicle is stolen or you’re in an accident). Usually, deductibles range from around $250 to $1500. If you put your deductible up, then you’ll benefit from paying a lower premium.
With plenty of motoring costs to pay out for, you’ll be glad to keep your auto insurance costs down. While you’re at it, look at other ways you can save money on your car expenses. One thing you can do is to use apps like ‘Gas Buddy’ to check the price of fuel stops nearby. When you check the app beforehand, you can find out the cheapest deals and drive on if you’re not happy with the price!

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4 Cyber Security Apps To Protect Your Business

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Protecting your business encompasses many different tasks and priorities. It would be easy if running a company was plain sailing, with no risk or setbacks on the horizon. Unfortunately, this just isn’t realistic, and so it’s essential to take precautions to protect your company. Commercial insurance is a must-have so that you are covered if a member of the public is injured on your property, or is put at risk due to one of your products.

Property insurance is essential to cover the expenses associated with damages incurred to your building or equipment. Worker’s compensation means that you are protected if your employees fall unwell. Many companies forget about cyber insurance when they are choosing their policies, yet cyber crimes continue to grow. As well as choosing the appropriate Commercial Insurance options, there are several apps you can use to protect your business online.

1 . Perimeter 81 

Perimeter 81 is a VPN platform designed to simplify online security. Using Perimeter 81, you can work remotely while accessing high-level online security protection. With this application, there’s no need for expensive hardware and a lengthy installation process. Perimeter 81 offers professionals full network visibility and the opportunity to identify unusual activity. The software-defined perimeter architecture ensures that users are fully protected when accessing data centers, SaaS apps, and private cloud networks.

2. Flowmon

Flowmon is a security and network monitoring platform that uses IP flow tracking tech to provide users with network visibility. Flowmon detects security threats early and stops such threats before they begin to compromise the network. The application can improve the process of fighting off threats using antiviruses, firewalls, and IDS. One of the best features of Flowmon are the network probes, executed in real-time. This software also provides stats in relation to IP flow and then stores this data for further analysis.

3. TokenEx

TokenEx is a cyber security platform that can help your organization to protect it’s confidential and sensitive data. The application works to lessen the impact of a security breach in a worst-case scenario. External and internal systems commonly use tokens to make transactions. TokenEx functions to ensure that hackers don’t have the chance to break into these systems and steal data. The key benefit of TokenEx is that it provides an end-to-end unified tokenization solution; other features include file transfer, encryption, and various integrations.

4. Netwrix Auditor 

Netwrix Auditor is a governance and visibility platform for IT security operations. It’s been described as an easy to use type of IT management software, making it simple for users to determine risks and threats in their hybrid environments and cloud systems. With Netwrix Auditor, you can track access to data and create reports on any changes deployed by users. Other features of Netwrix include monitoring user behavior, detection of insider threats, blind-spot analysis, and security analytics.
With one of these applications in place, your business can relax about your security, and get on with your critical projects. In our current climate it’s vital to consistently improve your IT systems and security.

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