Tag Archives: business

Jun14

Keeping Multiple Doors Open Throughout Your Career

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Keeping Multiple Doors Open Throughout Your Career

Securing a great career is one of the most rewarding accomplishments that anyone can ever achieve. But given the fact that we are individuals, you cannot fall into the trap of placing all of your eggs into one basket. Maintaining a sense of flexibility could be the key to finding a pathway tailored to your unique needs. As such, keeping multiple doors open is essential.

Gaining a sense of direction is important, or else your career could start moving backwards. Nonetheless, retaining a sense of versatility will bring many benefits as you aim to juggle the various aspects of your life. Here’s how you can achieve that goal in just five easy steps:

1) Don’t commit to the longest course: You never know when an opportunity may surface. You may even have a chance to secure your dream job without taking your education to the very highest level. Community college transfers allow you to switch over to an advanced course after graduation from a foundation level. Split your education into two parts and see where you stand at the end of part one. With the money saved thanks to reasonable community college tuition costs, you’ll be glad that you did!

2) Be open to digital opportunities: The evolution of modern tech has opened up several new doors ranging from freelance work to working at home. Build a suitable home office space, and your prospects will look better than ever. Not only can this enable you to reduce the need for commuting, but it may allow you to work during hours that are better suited to your current lifestyle. If you’re a parent, for example, this can make a world of difference to your family life and financially.

3) Consider learning a new language: Let’s face it; the world of business is a smaller place than ever, and even small companies now do international deals. Having the ability to work with clients and partners from all over the world will make you a far more attractive prospect for employers. Moreover, it could potentially open up the possibility of relocating for another role. That might not be an avenue you wish to take, but having the option can only be a positive. And, if nothing else, learning something new is fun!

4) Sign up to job sites and networking channels: In business, it’s often who you know that matters. As such, using LinkedIn and similar platforms can be hugely helpful. Meanwhile, posting your details for potential employers to find you could result in new jobs being offered to you. Even if you’re happy in your current role, you should never rule out the possibility of something better being out there. You might not necessarily chase those vacancies. But still, shutting the door on them completely would be a tragedy.

5) Have the ambition to do something on the side: This could mean increasing your skills with additional courses and experience. Alternatively, you may wish to start a small business of your own with a goal to eventually make it your full-time career. In any scenario, following your passions in a productive fashion can bring many rewards. Not only for your long-term earning potential but for your continued happiness, as well.

The business world is expanding daily with new advances and ideas. Being open to all of the future possibilities only makes sense in a world of constant change!

Featured Image By: Pixabay

Jun7

Are You a Budding Entrepreneur? How to Secure Early Success

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Are You a Budding Entrepreneur? How to Secure Early Success

Being an entrepreneur and making a success of it is always going to be an uphill struggle. Most of the people who choose this path in life fail and have to switch to another career later on. That’s just the way it goes in a competitive marketplace. However, that doesn’t mean that you should just resign yourself to failure, too. There are plenty of things that you can do to make sure that you do better than all of those that have tried before you, like the following:

Know What Kind of Business You Want to Run: First of all, you need to know what kind of a business you actually want to run. If you get this wrong, you could get your entire approach wrong. Give some thought to this as well as all of the details that will take your start up to the next level. One of the major things you are going to have to tackle is a name for your company that stands out from the crowd. For example, if you are in the field of beauty, you could get inspired by these spa names. You could also invite your friends and family to help with your selection by letting you know which name ideas they like best. Do not rush this because the right name can make a huge difference.

Do you want to start a business that operates in a risky sector but has fantastic growth potential? Or you might want to take a safer bet and opt for a franchise. You could choose a franchise in home care. This is perfect if you have a caring nature and want to make a real difference to society. Perhaps a fast food chain? Many fast food chains, from McDonald’s to KFC, are run as a franchise, so it’s a good option if you don’t yet have one of these restaurants in your area. Or maybe you’re interested in home improvement and would like to join the Premier Pools Franchise. You will be responsible for running your own business, but there is less risk involved. It’s entirely up to you to decide what kind of business you want to run, but give it plenty of thought beforehand before committing to anything.

Planning Can’t Be Skipped: Many people arrogantly think that they can just skip the planning stage of the process when they start a new business, but that’s not the case at all. In fact, it’s a very bad idea to think that you can skip over something as important as planning. If you don’t have a solid and sturdy plan for how you’re going to push the business forward and make sure that it is always progressing, you will experience problems later on. You can’t afford to not do this, so don’t let your ego get the better of you when you want to shrug off a planning brain storming sesh. Managing your budget is going to be crucial in your planning stage so be honest with yourself about the resources you have and what is possible with it. Some businesses like this example here can be started for significantly less than you may think and could be a more feasible option.

Have a Concept That Will Stand Out: If you’re going to find early success and get to where you want to be as a business owner and entrepreneur, you really need to arrive with a fully formed idea. This idea is going to have to be big and good enough to make you stand out from the other businesses that are already operating in the market. What can you offer that your competitors can’t? For example, what are the perks for your customers if you start an online skincare business? Will you offer free samples with your orders or virtual consultations to boost brand loyalty? You can’t just roll in and expect people to ditch the companies that they are already loyal to. If that’s going to happen, you need to give them a proper reason through the services that your company offers.

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Know Your Long and Short Term Goals: One of the most important lessons that can be learned from Startup Framework programming is to plan ahead and identify potential problems and their solutions. The best way to start doing this is to establish goals for your business to achieve. Short-term goals can be very important when you’re looking for early success in your business. But having long-term goals is just as important. You might think that this is a strange thing to say when we’re talking about early success for your startup. But having long-term plans and aims is a sign that you have thought through the journey that you want for your business. It shows foresight and seriousness, and those things are important at any stage of running a company.

Starting any new feat for work can be a daunting task, so remember to think things through and plan, plan, plan every step of the way for your ultimate success.

Featured Image By: Pixabay

May30

Avoiding The Legal Headaches Of The Business World

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Avoiding The Legal Headaches Of The Business World

Running your own small business is like every other aspect of your life, as you need to be cognizant of the law. Just as you will know when you are at home how loud you can play music and that you need planning permission to make any changes to your house. And while you are in public, you will acknowledge the importance of not behaving in certain ways, you should also be aware of the things that you have to do in the business world when it comes to your legal obligations and limits.

A lot of laws are ostensibly superfluous because the things that they prohibit are already governed by a sort of tacitly agreed social contract. Many people do not do certain things because they would not want to do them in any case, irrespective of whether there is a law in place that tells them that they shouldn’t. However, with some things, the law imposes obligations on you that you may find to be quite restrictive or expensive. The reality is, that you still need to attend to these things because they often have the benefits of your employees or society as a whole in mind. Failing to do so can result in legal difficulties which can feasibly end the viability of your business. Here are a few things that you should consider to make sure that your business is compliant:

Some things are rather obvious, like the importance of running an office or other business venues in such a way that reduces the potential risk of fire. These measures are sensible not only because they can help prevent horrific injury or death, but also because a fire can be disastrous for business. Taking out business insurance is always a good idea. It is not just for pessimists; in the event that your office does burn down, you will realize that it is for realists. However, there are also lots of fire codes, which you need to know and submit to. They are often detailed and complex and rather than reading, understanding, and implementing them yourself, you may want to hire a fire safety franchise to come into your business and make sure that everything is as it should be. It will ensure that your business is not closed down by government inspectors, as well as keeping you and your employees safe.

Not all of the threats to your business are so impersonal as something like fire, though. The people that you hire can also prove to be a disadvantage to you. Research conducted by the Ponemon Institute in Tucson, Arizona, found that 60% of employees who quit a job or who are asked to leave steal from that company. 65% of those same people took email lists, while 35% took employee records. Remarkably, 16% had the temerity to take financial information. This is illegal and can present a major threat to your business. If that person takes that data to one of your competitors, you may not be able to compete as effectively as you’d like. However, if that data is leaked, it could hurt your reputation and leave you vulnerable to being sued. Encrypting your data and implementing clearance levels and non-disclosure agreements is a good idea. You should also have an excellent lawyer on standby for consumer complaints, defamation, and employee disputes. To get started, simply enter a search for “litigation lawyers melbourne” (or your local area). Whomever you choose should know your business and its employees inside and out to provide the best help possible.

Finally, it is so important for your business to ensure that everything is above board and perfect in terms of taxes. An issue with the IRS can be absolutely detrimental to yourself and those under your employment. The person in charge of the company’s finances must be well versed in all aspects of tax law and it is wise to have regular audits and inspections. You should also have a tax lawyer like Hughes Noff Tax Law, a Maryland tax law firm (or a similar practice in your local area) on standby should any issues ever occur.

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Pexels Image

Featured Image By: Pexels

May26

7 Steps To Maximizing The Profit Potential Of Your Home Business

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7 Steps To Maximizing The Profit Potential Of Your Home Business

Running a small business from home has become a very popular option for entrepreneurs from all backgrounds. By removing the need for commercial offices, you can significantly reduce the overheads involved. In turn, this can remove a great deal of pressure and buy a little more time as you look to turn the operation into a profitable one.

Reducing the overheads is a positive starting place. However, it’s only worth doing when you couple it with maximized profits. Otherwise, those savings will be counterproductive. In turn, this will prevent the company from achieving its full potential. Thankfully, you can achieve those great results by mastering just seven key factors. So, what are you waiting for? Let’s get started:

#1. Learn: There’s nothing wrong with starting your business almost immediately. However, it’s equally important to appreciate the fact that you don’t know it all. While improvements will come with experience, you should also appreciate the need to learn as you earn. First and foremost, you should be open to the possibility of formal education. Many entrepreneurs feel that there is no need for this as they aren’t looking to boost their hopes of securing a better job. But knowledge is power and enhancing your wealth of business-related info will serve you well.

Meanwhile, it’s imperative that you conduct the necessary research into your business. From working out the costs to knowing what else is on the market, that knowledge will enable you to make far smarter decisions.

#2. Build A Work Space: The thought of working from home is a dream for many, especially when you remove the need for commuting. However, separating work from leisure is the hardest challenge facing any home-based worker. Fail to establish those boundaries, and any success will remain limited.

If you have a home office space, that’s great. If not, it’s probably time to transform a guest room or the garage. Either way, your home office should be built for business rather than just working. Given that you could be spending long periods in this area, choosing an ergonomic chair is essential. Meanwhile, it’s imperative that all internet facilities and tech items are reliable, too. Sadly, if they go wrong, you could be set for a nightmare.

Building this working environment isn’t only important for you. It’s equally crucial for your family. If you’re in the office, you’re working. If you’re not, then they’ll know that you’re ready for family time.

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So snazzy!

#3. Focus On Teamwork: All business owners require the support of a winning team. When running the operation from home, the chances are that you won’t have people actively working in your home. But that doesn’t mean that you should ignore the importance of embracing employees. The recruitment process will vary from the traditional ideas. However, hiring remote workers and freelancers can enable you to make your staffing budget work far harder. Meanwhile, you won’t need to worry about providing them with the necessary equipment. In turn, this can only send profitability through the roof.

Working from different locations shouldn’t be an excuse to ignore your responsibilities, though. Regular perks, good salaries, and a sense of empathy and understanding should be considered essential. After all, you need to trust that they’ll be working in the right manner.

#4. Think About Your Presence: Regardless of the industry, customer perceptions are imperative for success. Failure to make a good first impression will harm your hopes of achieving sales before you’ve even started. Unfortunately, some customers will be put off by the fact that you operate from a residential address. Acquiring a physical address in a prestigious location instantly provides a better company image. Meanwhile, it’s important that your website and other tools display contact details in a clear manner. Otherwise, it can give consumers a reason to feel that you’re hiding something.

A strong SEO game will boost your web visibility to further enhance the initial responses. That helps the company plant a seed of interest into the client’s mind, which can only bring positive impacts for future sales figures. If this has gone way over your head, you are not alone! That is why marketing agencies like Justified Media offer SEO services to help give your business the visibility it needs to succeed.

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Pixabay Image

#5. Do More: Ultimately, you need to show that your business is the best solution for the client. One of the best ways to do this is to offer something that your competitors don’t. If yours is a localized service, you could make it mobile by visiting clients in their homes. Whether it’s hairdressing, accounting, or selling clothes doesn’t matter. Removing some of the hassle will give them another reason to choose you over competitors. On a similar note, accepting more payment types can have a positive influence on proceedings. On the one hand, those gestures are made for the benefit of customers. On the other hand, though, you should have pride in offering the best service, anyways.

#6. Find A Great Marketing Strategy: Branding is a crucial element of any business, as it provides the company with an identity. Your home-based venture shouldn’t be any different. In addition to logos and slogans, you should think about attention-grabbing ad campaigns.

Given that you don’t have a store, embracing online opportunities is pivotal. In addition to strong SEO, you should look to blogging, video campaigns, and interactive tools. Not only are those ideas far more cost-effective than traditional methods, but they additionally encourage participation. And when the clients are actively interacting with the brand, they’ll be far more likely to respond in a positive manner.

Just remember that you must express your personality at all times. If they can relate to the people behind the brand, the customers will be far more likely to complete a purchase. Once again, it all comes down to that sense of trust.

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Stats n’ stuff

#7. Excel At Customer Care: Getting your business to the point where it generates regular sales is no mean feat. So when you do reach this stage, it’s crucial that you find ways to encourage long-term loyalty. When you have customers that keep coming back for more, sustained success is assured. Good communication is always a solid starting point. For example, if you are using help desk outsourcing, you will want to ensure that the person manning the desk is friendly and patient. A positive attitude goes a long way when communicating with customers and clients.

You can also go one step further with small gestures like promotional freebies and special promotions. Likewise, running loyalty schemes can be hugely beneficial. Above all else, you should go beyond the call of duty when dealing with customer issues.

Essentially, showing that your commitment to the client doesn’t end with the transaction is vital. In addition to boosting those direct relationships, it could encourage them to recruit friends and family, too.

Featured Image By: Maxpixel

Apr27

How Education Can Help You Get Fluent in the Language of a Business

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How Education Can Help You Get Fluent in the Language of a Business

The language of a business is the models and practices in place within it. No, it doesn’t mean the employees literally speak a language created by the business (although, sometimes it might seem that way!). It means that each business has its own way of doing business and its own methods that it chooses to use to do so. And each business speaks its own language in the sense that they provide different things and expect different things in return. And, like with any language, it is possible to get fluent in a business’s language through taking courses.

Different businesses are like different cultures. Each one differs from the next, even when they are in the same market. But just because there’s such a variation in businesses and their languages, it doesn’t mean that you can’t get fluent in them. In this day and age there are a whole host of courses to take and degrees to earn. So, fear not, because you’re always going to be able to find one that helps you in the business that you work in. Gone are the days where you could only get a grasp of the language of business by obtaining a Business Management degree. Today, you can take any number of courses to help you better understand the business that you business in.

For instance, if yours is a business in the Geriatric Care Management sector, then you can get fluent in the language of dealing with your older customer base by earning a Gerontology degree. In doing so you can learn and understand the behavioral habits of the elderly. You can also garner a deeper understanding for their societal standing. In learning these things and becoming fluent in this particular language, you are setting yourself up for success in this sector.

Despite the variation in businesses today, there are still some overarching languages spoken. A language that is spoken in every business is accounting. It is an integral aspect of every business, as it determines how protected and sufficient it is in a financial sense. If you want to be a successful business owner, then it is imperative that you become as fluent in accounting as you are in your mother tongue. To do so, you can try earning an Accounting degree from the UAB Online School of Business. In taking such a venture, you are giving yourself the best opportunity to be fluent in this crucial area of business. Plus, because 100% of this degree is completed online, you need not let any of your important everyday business aspects slip while you take it.

Whether you major in the liberal arts and humanities or in the STEM fields there are skills from both sides of the divide that can be translated into the language of business. As a liberal graduate you stand yourself in good stead to be able to speak persuasively. As a STEM grad, you have the skills to be able to deal with tasks logically. When taking a degree, in order to get the right qualifications needed for your career path it is imperative that you choose the right one. But when you are taking a course in order to better your knowledge, you can find different skills and techniques in all sorts of different classes. It’s just about how you implement the knowledge that you’ve garnered when the time comes.

Featured Image By: Wikimedia

Mar14

Ruby Tulip Launch!!

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Ruby Tulip Launch!!

Hello everyone and happy Tuesday! This is a very exciting day because lifewithlilred’s very first signature scent is here in the form of Ruby Tulip, a roll on fragrance oil. Ruby Tulip was created by the unbelievably talented scentstress of Angie’s Bath & Body – a dear friend, Angela. Her and I collaborated on this scent and she took what little ideas I had and turned them into a beautiful fragrance. Ruby Tulip is available for purchase on Angela’s Etsy shop and with shipping will be just over fifteen dollars. A total smell goods steal!

As I pondered what to say about this scent, I hit a brick wall. Especially because Angela’s description of Ruby Tulip on her site is simply perfect. So, I’m taking the stumped wordsmith’s route here and sharing that with you because I literally couldn’t have said it better myself:

RUBY TULIP CUSTOM PERFUME – 1/3 oz. (roll-on)

This a very special creation. A dear friend of mine asked me to create something special for her and her beloved blog readers. And so I did.

RUBY TULIP is made from all natural ingredients and with pure love. It took almost 2 months to get all of the essential oils to work perfectly together and now it’s ready for the world. It’s a citrus scent, but lightly. It wears very well and may only need 1 touch up throughout the day.

INGREDIENTS: Fractionated Coconut oil, lavender essential oil, lemongrass essential oil, rosemary essential oils, sweet orange essential oil, and a smidge of honeysuckle fragrance oil.

You have the option of adding rose petals or ordering without. The rose petals are a beautiful addition to the perfume.

Ruby Tulip is packaged in a 1/3 glass roll-on bottle w/cap. It will be shipped in a black roll-on box and organza bag via USPS 1st Class Mail.

I truly hope that you love this scent as much as I do.

Thanks,
Angela

^^^ Told you I couldn’t have said it better myself!!

I want to thank Angela again for the hundred millionth time for creating Ruby Tulip for me but most importantly for all of you! Angela is an incredible businesswoman and you can check out her latest ventures on my most recent Accessory Story. While checking out Ruby Tulip’s page on Angela’s Etsy shop, be sure to treat yourself to some more divine bath and body care goodies like her body butters and sugar scrubs – I promise you that they won’t disappoint!

The Ruby Tulip Launch is a go and I am so excited to finally be able to share it with all of you! Who plans on making a Ruby Tulip purchase? What should Angela’s and my next fragrance be called? I want to hear from all of you, so leave me a comment and let’s chat! Much love. -Sarah

Mar2

So, What Exactly IS Smart Casual?

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So, What Exactly IS Smart Casual?

Ever had one of those occasions where you simply don’t know how to dress for it? Maybe you’ve been invited to a party where you don’t know the people or the vibe or maybe you are going somewhere during the daytime and you don’t want to look overdressed. Although no one will mind if you are dressed a little bit differently (unless you’re in something totally outrageous, that is) it can make you feel awkward and self-conscious. At a social event, that is the absolute last thing you want as it can end up hindering your whole experience there.

But what do you do when you have no idea what kind of outfit is suitable for a specific occasion and you either can’t or don’t want to ask in advance? The best thing to do here is to go smart casual. The ‘smart cas’ look has been around for decades and isn’t always the easiest thing to get right as there is plenty of ambiguity over what constitutes ‘smart’ and what constitutes ‘casual’! The important thing is not to overthink it – as long as it’s not too sparkly, tight, or short you’re probably on the right track! So, with that in mind, here are some easy looks that mean you are ALWAYS dressed for the occasion:

A Dress: You might hear the word ‘dress’ and think immediately, that this is too formal for smart casual. But in reality, there are plenty of ways that you can rock a dress and still not look like you are taking yourself too seriously. Remember, that dresses come in all shapes and styles. A cute tea dress is demure while still being flirty – opt for something that kicks out from the waist, which is a cut that flatters pretty much every body type. Go for a floral print and pair it with some cute pumps for the daytime or with some heeled sandals for a fun evening look.

If you need to look a little more corporate in your smart casual ensemble, stick to muted colors such as grey and choose a classic shift dress. Pair with some knee high boots and a jacket. But remember, if your dress is already very tailored, soften the look with a waterfall jacket, or something else that is a bit less structured. All-over tailoring does, unfortunately, emphasize the ‘smart’ aspect of smart casual a little too much.

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You can’t go wrong with a pretty floral dress.

Top & Jeans: If you were ever looking for a classic smart-casual combination, it doesn’t come much better than the top and jeans pairing. The jeans are the staple piece for this outfit, so make sure that you invest in a pair that is clearly of good quality. It might mean spending a little more money but trust us – other people can spot cheap denim from a mile off. Skinny or slim-fit jeans are the most versatile and the more flattering on basically any figure, despite what social norms about slim fitting clothes are.

If you are a little more conscious of your stomach area, simply opt for a high-waisted pair that will nip you in at your waist. The top can pretty much be anything you like, but try to avoid cotton T-shirts and tank tops as they look a little too low-key. A lace or satin blouse is always a fail safe option. As far as footwear goes, try and judge the occasion as best as you can. Sometimes heels might be necessary, but other times you might even be able to get away with trainers – providing that they are something classic, like women’s Adidas originals.

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Cute boots are always a safe bet!

Co-ords: While it’s advisable not to don anything too outrageous for a smart casual event, that doesn’t mean that you can’t still have fun with some interesting pieces of fashion. We first saw the trend for the co-ord emerge early last year and it remains a useful item in the wardrobe of many women today. Remember that a co-ord is very different from a suit: you can get them in varying prints and colors, so don’t be afraid to go bold! Plus, you can ditch the traditional top and trouser combination for all kinds of different mismatches. Why not go for a wide leg, high waisted trouser paired with a crop top (this will make your legs go on for miles) or opt for a boxy shirt layered over a matching A-line skirt? Whatever you choose, your co-ord set is going to take all of the stress out of deciding what to wear!

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Hello, stilettos!

Featured Image By: Flickr

Jan10

Blogger’s Blooming Business

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Blogger’s Blooming Business

Heyyy guys! When I have a friend who is very dear to me, I always make sure that I am one hundred percent supportive of all of their creative endeavors. One of my beloved blogging beauties, Miss Angela, has been a reader turned friend of mine for quite some time now. I can always look to Angela for rays of positivity and sunshine whether it be on her Facebook page or in my comments section and it always brightens my day infinitely.

Recently, Angela opened her own Etsy shop, Angie’s Bath & Body, which is chock full of amazing homemade and natural bath and body goodies. There are body butters, bath salts and fizzies, sugar scrubs, and so much more to browse through and I promise you that they both look and smell simply delicious! I encourage all of you to take a look at Angie’s Bath & Body and give some love to one of my dear blogging friends and maybe even treat yourself to some new luxury bath and body care! Love you, Ang!

Nov30

Personal Debt: Answers You Need To Put Yourself Back In Control

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Personal Debt: Answers You Need To Put Yourself Back In Control

There comes a certain point in human lives when we think that we are in sole possession of the “right” outlook on life. People younger than us haven’t lived as long, haven’t seen what we’ve seen. Those older than us don’t understand how the world has changed and haven’t changed with it. An older person’s attitude to mental health may seem unenlightened to us because we expect them to be more conservative.

What we sometimes don’t grasp is that they do understand mental health issues and know a bit more about avoiding them. Consumer debt totals keep rising pretty much worldwide; certainly in the West, anyway. We’ve become almost comfortable with a “manageable” amount of personal debt. The older you get, the less likely you are to be okay with it, though, and there are signs that the seniors have it right.

Debt Is Linked To Mental Health Issues: If you looked through your accounts and found that you owed more than you thought, but weren’t at risk of default, would you be okay with that? And when I say “okay” I don’t mean “could you push it to the back of your mind for the moment?”. We know it’s there, but it’s inconvenient. So we end up resolving to get it sorted out later. There’s always a later. And though you may think it’s locked up safely in the back of your mind, the door is wide open. Though you may not perceive it, the stress is there.

Why The Seniors May Have It Right: Young adults and those in their thirties and forties have an attitude to debt that has arisen with the greater availability of it. On one hand you always know someone worse off than yourself. On the other hand there is the fact that if you’re managing it now, it’s easy to think a little more won’t hurt.

Here it is useful to think of the boiling frog theory. If you put a frog into boiling water, it will instantly leap out. Of course it will, it’s too hot. But if you put a frog in cold or lukewarm water, and gradually increase the heat, it will stay in there until it is boiled to death*. Debt can be like that – you don’t perceive it as a problem until it quite clearly and damagingly is. Because older people are less conditioned to be okay with debt, they’re less likely to borrow. They’re also more likely to refuse to take on any more debt.

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Wikipedia Image

What Should You Do About It? If you look at your accounts and your debt is above what you earn in a year, consider homeowner loans. These may allow you to consolidate all your debt into a single payment which will be more manageable than all the smaller ones. Having it all in the one place also makes you less likely to overlook a payment and get landed with fees and charges.

Secondly, if you feel swamped by debt payments, speak to someone about it. In the first instance, a parent is the right person to speak to. They can bring a steadier perspective to the issue which will help you see it less as a tidal wave and more as an issue to be overcome. Debt need never be a terminal problem. It can be highly inconvenient. However, if you’ve made the mistake of over-extending your borrowing, don’t compound it by panicking. All this will do is increase the stress you are trying to banish.

*Don’t worry – this has been tested by scientists and it has been established that a frog will jump out if the water gets too hot. People in a certain amount of debt may not be so proactive, though. 🙂

Featured Image By: Public Domain Pictures

Nov30

Suffered A Financial Loss? Here’s How To Deal With The Situation & Get Back On Your Feet

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Suffered A Financial Loss? Here’s How To Deal With The Situation & Get Back On Your Feet

When it comes to your career, you may have made the decision that a lot of people have made and opted to go down the entrepreneurial route. No one said running a business would be easy – it’s a well-known fact that within the first year of launching, half of all new businesses fail. However, when things start to unravel and go wrong, that doesn’t make it any easier to deal with, does it?

If your business has suffered a financial loss, you’re probably not sure what to do next. You’re probably wondering what the next steps that you should take are. When things start to go wrong, the most important thing is not to panic. Because if you panic, you may rush into making a decision that you will later regret. So, it’s important to keep your head and think carefully about what steps to take next.

To help make it easier for you to cope with a financial loss, below are some tips and pieces of advice that you may find useful:

Investigate What Has Caused the Issue: The first step that you take should be to investigate what has caused the issue to occur in the first place. Financial losses don’t just randomly occur; there’s always a reason for them. It could be that you invested in a new product and that product has unfortunately failed to sell, leaving you out of pocket. Or, it could be that your accountant has calculated your taxes wrong and has left you short of funds because of it. If the reason for your financial loss is due to someone else, it might be worth contacting professional negligence solicitors. Whether it was an accident or not, if you’ve been left out of pocket and haven’t been reimbursed, you may have a case.

Learn From Your Mistakes: As a business owner, if you want to be successful, you need to be constantly learning and growing. It’s important to not just take mistakes at face value. If you want to make a success of your venture, you need to learn from your mistakes and ensure that they don’t happen again. By learning from your mistakes, you can up the chances of your business growing into a prosperous and profitable venture in the future.

Try to Find a Way to Keep Your Business Afloat: It’s all well and good saying to learn from your mistakes. But if you don’t know how to keep your business afloat while you recover what you lost, you could end up having to shut down for good. You need to think about your options, could you get a short-term loan perhaps? Or, would you be willing to have an investor who acts as a silent business partner? If you want to ensure that your business stays afloat, you need to find a way to get out of the mess that you’re in.

Hopefully, the tips and advice above should make the process of dealing with a financial loss a little bit easier and less stressful.

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