Friday, May 22, 2009
It's Cash Flow Stupid
Barry Moltz, Knowledge Level: All Levels, Keywords: Cash Flow
It was reported in the presidential election of 1992, that James Carville, Bill Clinton?s campaign manager had a sign posted in their Little Rock Office that simple stated "It?s the economy, stupid". This was a reminder to everyone that worked at the campaign that the only thing that the race was about was the economy. The campaign should focus on this one point. That year, I started my third business after failing in two others. This time, I scrawled my own sign and tacked it up in my office so it read "It?s cash flow, stupid". It became my daily mantra.
Starting out in my first business in 1980's, I thought that the only thing that mattered was to sell your product. I reasoned that if you make sales, you make money. This worked great until customers didn?t pay me on time or at the same rate as my business expenses grew. Even if my customers did not pay their bills when they were due, my employees and vendors still wanted to get paid on time. My employees were not very interested in taking my accounts receivables in trade for their salaries or promises that I would pay them in a few weeks. What I realized is that sales do not pay bills. What your income statement says about profits in your small business can be meaningless. We have all read this past year how Enron and Worldcom misstated their income statements and balance sheets to make their companies seem profitable. Only collecting the cash from sales in a business means something. Cash is the gasoline that makes your business engine work. Without cash, your business literally suffocates. Cash is not only king, but it is every other face card in the deck. Most businesses fail because they run out of cash leaked through losses or other poor management practices. Cash shortages have driven Divine and United Airlines into bankruptcy.
There are many things to do to improve your cash flow in your own business. First, have your accountant or your bookkeeper construct a cash flow statement for you monthly. Most basic accounting software packages have a standard report that will produce it in its most basic form. Learn what every positive and negative number on the statement means. Unfortunately like me, most business owners utilize this tool only after they run into cash flow problems.
In financial terms, cash flow is defined as cash receipts minus cash payments received over a given period of time. It's really the flow of money in and out of your business. It is this rate of cash inflows and cash outflows that essentially determine your business' health.
There are many knobs you can turn to improve your cash flow. Collecting your receivables faster or getting extended credit from your vendors will boost your cash. Selling inventory faster and keeping your inventory levels lower will also accomplish the same thing. Buying inventory only to sit for months on your shelf waiting for customer orders can take a lot of cash out of the business.
Other ideas to bring more cash in your business are:
Get your customers to pay with credit cards. This way, you get money you can use in your checking account the next day.
Give customers discounts for paying their bills sooner. With interest rates low, you may offer a half percent discount for paying within 10 days.
Ask customers to pay a deposit or an advance for services before you perform it. This is industry practice in consulting companies.
If practical, bill your customers as soon as you perform the service or deliver the product. Don't wait until the end of the month to send them a statement.
Be diligent about collecting your accounts receivables. State a specific date that the payment is due. Call soon after the bill is sent out to make sure they received it and ask when it will be paid. Follow up early and often. You have a right to be paid within terms, so don't be timid about asking for your money.
Alternately, try to get 60 or 90 day terms in which to pay your bills.
If your vendors allow it, pay your own bills after 30 days with credit cards. This gives you 30 more days to pay until your credit card bill comes due.
Track your inventory carefully. Know what sells quickly and what never moves off the shelf. Know how long your customer will wait for a product and still be satisfied.
Finally, remember that a real customer is only one that pays their bill in the agreed timeframe. Don't extend credit to a customer that has not proven they can pay in a timely fashion. My good friend always reminds me that a business transaction isn't really complete "until the check clears the bank!". In the long run, it only makes business sense to sell something to a customer that you know will pay you. Doing work for a customer where you question if you?ll ever get paid is not a sustainable business model. It is much better not to have done that work at all and instead, spend your time finding real paying customers.
Barry Moltz was chosen by I-Street Magazine as one of the Top 100 People of Chicago�s Hi-Tech community in 2001 and 2002, Chicago Software Association�s Angel of the Year in 2001, received Northwestern University�s Contribution to Entrepreneurship Education Award (CEE) and in February 2004 was inducted into the Chicago Area Entrepreneurship Hall of Fame. He was recently nominated for Fast Company�s Fast 50 (Fast Company Fast 50 Nomination). Barry is the author of You Need to Be a Little Crazy.. Article on Cash Flow by Barry Moltz
Business Management
Jerry Travers, Knowledge Level: All Levels, Keywords: Business Management
There are many aspects to good business management and it is important for the owner of a business whether large or small to be familiar with them all. The owners of a business may not be able to do everything by themselves when it comes to managing the business, particularly as it grows. However, they need to know enough about what needs to be done so they can hire the right people to do the job for them. Once someone is hired the owner must be in position to supervise that person when necessary.
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There is a great deal of business management training available from that offered by universities that can lead to higher degrees to associate degrees offered by Internet companies and small business colleges. There are also numerous training programs offered through other sources that will allow managers and owners to keep up with new developments in areas like business technology. In addition, training programs in subject areas like employee and customer relations are also available.
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In other words, successful business management requires an ongoing effort to keep every aspect of a business functioning smoothly. This requires the business manger and/or owner to keep up with inventory, sales leads, and closings along with many routine day-to-day operations. It also requires careful supervision of all employees from secretaries to sales personnel.
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When done properly business management reduces a company’s overhead and increases the profit margin. At the same time, a poorly managed business will soon run into problems that it may never recover from.
Jerry Travers is a Business Professional With 17 Years Experience.. Article on Business Management by Jerry Travers
5 Things I Learned From Being A Young Entrepreneur
Leah Larson, Founder of Yaldah Magazine, Knowledge Level: Moderate, Keywords: entrepreneur, lesson, tips, tricks, young, leah larson, yaldah maagazine
I never thought of myself as a businesswoman. I actually thought of myself as a kid. That's because at the age of twelve I sort-of landed in my own business, and the rest is history. Now I'm seventeen, and my business, Yaldah magazine, has grown tremendously. I've learned quite a bit about running a business throughout these five years, and I've learned that it really can be fun! But if I had to narrow it down to the five most important things I've learned, it would be:
1. Notice a Niche
I never decided to start a business. What I wanted was a magazine for Jewish girls, and when I saw that there was no magazine like that available, I decided to create my own. I figured that if I wanted a magazine like Yaldah, there must be many other girls out there looking for the same thing. And I was right. As soon as the first issue came out, word of mouth spread quickly and I soon had hundreds of subscribers. A business has to fill a need, and who's a better person to identify what you need than yourself?
2. Act on a Dream
It all started with a dream of mine, and it could have ended with the dream as well. The hardest part is to act on your dream, even when everyone else doubts you can do it. As a twelve-year-old with no experience in the publishing business, people had valid reason for thinking that it was impossible for me to succeed. But I kept my dream in mind and my goal in sight and moved forward, learning from my mistakes. Sometimes to everyone else your brilliant idea is just impractical and, well, just a dream. Believe in your idea and you can make it happen.
3. Value Time
As a full time high school student, magazine editor and publisher, and freelance graphic designer, I've learned that every minute counts. In fact, every second counts. I always have to prioritize: What must get done today? What can wait until tomorrow? I keep a detailed to-do list on my computer; I can't trust my memory any more. Each night I take the most urgent items from my to-do list and schedule them into the next day. That way I have a realistic expectation of what I practically have time for the next day, and what will have to wait. I wake with a fully organized schedule ahead of me, knowing that I've already prioritized, and I'll be spending my time on the most important tasks.
4. Network
Networking happens everywhere, not just at official conferences or business functions. Carry business cards, brochures, or samples with you everywhere. You never know who you'll meet at a dentist appointment, family party, or even in the grocery store. You may also meet someone who knows someone. Many people are eager to share their advice and ideas with you. Carry around a notebook to jot down the advice people share - it just might come in handy in the future!
5. Think Positive
I believe that thinking positive is the key to a successful business, or at least enjoying what you're doing. Realize that there will be challenges and setbacks to overcome, but they are just bumps in the road leading to your final goal. Keep your goal in sight. Whenever there's an option to worry or to hope for the best, definitely hope for the best. Positive thinking will bring positivity to you and your business, enabling you to succeed. When people see you believe in yourself, they'll believe in you too.
Leah Larson, age 17, is from Sharon, MA and is a senior at Bais Chomesh High School in Toronto. She is the founder, editor, and publisher of YALDAH Magazine, a magazine for Jewish girls, by Jewish girls. Leah is currently one of 5 finalists running to win $100,000 to expand her business. Vote for her (Evelyn from MA) today at WellsFargo.com! (Voting ends November 10) . Article on entrepreneur, lesson, tips, tricks, young, leah larson, yaldah maagazine by Leah Larson, Founder of Yaldah Magazine
Marketing Plan Template
One of the toughest marketing assignments is to write a marketing plan that is ambitious yet still attainable. By following the guide and using the template below, anyone will be able to write a top rate marketing plan.
Before starting on your written plan, you should answer the following questions:
1. What is the product or service you are selling?
2. Who is your market that will buy the product or service?
3. What need does the above market have for your product or service?
4. What is the basic message that you would like to send to this market in regards to your product?
5. What is the best way of getting in contact with your projected market? (i.e.- T.V, Radio, Print, Online)
After answering the above questions you will ready to start on your marketing plan. When answering question five keep in mind your budget limitations as you do not want to set yourself up for committing too much money to advertising.
Follow the template below using your answers to the above questions to guide you through.
Executive Summary
The Executive Summary can be taken straight from the business plan or it can be newly written for the marketing plan. Below is a suggested list of things to be included.
Description of the Company
The description of the company should include a brief summary of the company including when it was founded and some general details about your company. It should not be more than about 10 lines and should not go into too much detail about the companies mission or products and services as this comes later in the Executive Summary.
Mission Statement
This should not be anything new and should be taken directly from the Business Plan. Most companies have mission statements from day one and this should be included on all marketing plans.
Products and Services
The information in this category could vary depending on the purpose of the plan. If this is a company wide marketing plan then all products and services should be listed briefly giving a good description of what each of them can provide. If this marketing plan were specific to a product, then a description in more detail would better suit the marketing plan.
Financial Feasibility
This section should also come straight from the business plan and give a brief description of the financial outlook of the company and what effects may arise if the marketing is not successful. You should not discuss financial plans for the marketing program in this section of the document.
Strategic Focus and Plan
Mission/ Vision
Not to be confused with the Company Mission, this statement is what you would like to get out of the marketing plan. If this is a marketing plan for a single product, then this statement should state what your company expects out of the product and they plan to achieve this.
Objectives
The objectives of the marketing for the particular product, service or company should be outlined in this section. If one of the objectives is to make 50,000 people aware of your new product then this is something that should be included in your objectives. You can also include company objectives in this section if they are directly affected by your marketing. For instance, if your goal is to make one million dollars in sales the first year, then this is an objective that comes in direct contact with the marketing program.
Competitive Environment
Here is where you need to outline the competitive environment of your market. This would include any competitors whether they are in direct or indirect competition.
Situation Analysis
There are two effective marketing tools that can be used in a situation analysis purpose. The SWOT analysis and the BCG Dot Matrix. (Please refer to article on Effective marketing tools for beginners if you are unsure about these two tools).
For an in-depth analysis include both the SWOT Analysis and the BCG Dot Matrix in the Situation analysis. These diagrams can compare your products to your competitors and help you to determine the best approach for winning your section of the market.
Competitive Analysis
This section differs from the competitive environment as it describes more in-depth how you plan to effectively market against the competition. This section should outline direct competition's weaknesses and how you plan to capitalize on these weaknesses to grab the market share.
.
Market Product Focus
Marketing Objectives
These objectives can work in two different ways depending on what type of marketing plan you are writing. If you are writing a company wide marketing plan, then this section would outline all of the objectives you wish to attain through your marketing program. They should be listed in a number format along with a detailed description of how you wish to accomplish these objectives.
If the plan were being created on an individual product/service basis then the marketing objectives would be what the company expects to gain from this product/service. Once again, objectives should be listed in a number format with a detailed description of how this products/services marketing will tie in with the marketing of the program and how this will be accomplished.
Target Markets
This section will define in detail the market in which you will be marketing your product. It should be described in detail, and should outline how you come to the conclusion that this is the right market for your product/service. You should also state why this market is going to use your product and show what research has been conducted to come to this conclusion.
Marketing Program
Product Strategy
The product strategy should give a detailed description of what your product(s) are and how they are going to benefit your company. You describe which products you think will be most popular and describe which ones you want to be the most popular (The BCG Dot Matrix is very good in helping you determine this). If you are doing an individual product marketing plan, then this section would describe in detail what your product is and what strategies you have to make it beat out your competitors.
Price Strategy
The price strategy is where you will describe your key pricing issues. It is a good idea to state whether you are taking the high cost-low turnover method or the low cost/high turnover method. If you think your key selling point is going to be the price, then explain that here. If you are taking the low cost/high turnover approach then explain how your company will succeed with the low profit-margin on each product. Be sure to include rough estimates of profit-margins, manufacturing costs and end consumer prices.
Promotion Strategy
The promotion strategy is one of the most important sections of the marketing plan. This is where it can make or break a marketing program. This section should include advertising strategies you plan to engage in, any marketing strategies for your products such as attending trade shows, conferences etc. Also you should explain what message you want to promote in all of the items mentioned above. You should send the same message through all channels of communication.
Just Do It
Now that you have your plan, go out and make it real. There is no use spending months in analysis paralysis trying to write a perfect plan. Rather, have a bias towards action and go get started NOW.
Brett Pearce is a Content Developer and the Australian Community Director for zeromillion.com . Article on templateplan by Brett Pearce
Before starting on your written plan, you should answer the following questions:
1. What is the product or service you are selling?
2. Who is your market that will buy the product or service?
3. What need does the above market have for your product or service?
4. What is the basic message that you would like to send to this market in regards to your product?
5. What is the best way of getting in contact with your projected market? (i.e.- T.V, Radio, Print, Online)
After answering the above questions you will ready to start on your marketing plan. When answering question five keep in mind your budget limitations as you do not want to set yourself up for committing too much money to advertising.
Follow the template below using your answers to the above questions to guide you through.
Executive Summary
The Executive Summary can be taken straight from the business plan or it can be newly written for the marketing plan. Below is a suggested list of things to be included.
Description of the Company
The description of the company should include a brief summary of the company including when it was founded and some general details about your company. It should not be more than about 10 lines and should not go into too much detail about the companies mission or products and services as this comes later in the Executive Summary.
Mission Statement
This should not be anything new and should be taken directly from the Business Plan. Most companies have mission statements from day one and this should be included on all marketing plans.
Products and Services
The information in this category could vary depending on the purpose of the plan. If this is a company wide marketing plan then all products and services should be listed briefly giving a good description of what each of them can provide. If this marketing plan were specific to a product, then a description in more detail would better suit the marketing plan.
Financial Feasibility
This section should also come straight from the business plan and give a brief description of the financial outlook of the company and what effects may arise if the marketing is not successful. You should not discuss financial plans for the marketing program in this section of the document.
Strategic Focus and Plan
Mission/ Vision
Not to be confused with the Company Mission, this statement is what you would like to get out of the marketing plan. If this is a marketing plan for a single product, then this statement should state what your company expects out of the product and they plan to achieve this.
Objectives
The objectives of the marketing for the particular product, service or company should be outlined in this section. If one of the objectives is to make 50,000 people aware of your new product then this is something that should be included in your objectives. You can also include company objectives in this section if they are directly affected by your marketing. For instance, if your goal is to make one million dollars in sales the first year, then this is an objective that comes in direct contact with the marketing program.
Competitive Environment
Here is where you need to outline the competitive environment of your market. This would include any competitors whether they are in direct or indirect competition.
Situation Analysis
There are two effective marketing tools that can be used in a situation analysis purpose. The SWOT analysis and the BCG Dot Matrix. (Please refer to article on Effective marketing tools for beginners if you are unsure about these two tools).
For an in-depth analysis include both the SWOT Analysis and the BCG Dot Matrix in the Situation analysis. These diagrams can compare your products to your competitors and help you to determine the best approach for winning your section of the market.
Competitive Analysis
This section differs from the competitive environment as it describes more in-depth how you plan to effectively market against the competition. This section should outline direct competition's weaknesses and how you plan to capitalize on these weaknesses to grab the market share.
.
Market Product Focus
Marketing Objectives
These objectives can work in two different ways depending on what type of marketing plan you are writing. If you are writing a company wide marketing plan, then this section would outline all of the objectives you wish to attain through your marketing program. They should be listed in a number format along with a detailed description of how you wish to accomplish these objectives.
If the plan were being created on an individual product/service basis then the marketing objectives would be what the company expects to gain from this product/service. Once again, objectives should be listed in a number format with a detailed description of how this products/services marketing will tie in with the marketing of the program and how this will be accomplished.
Target Markets
This section will define in detail the market in which you will be marketing your product. It should be described in detail, and should outline how you come to the conclusion that this is the right market for your product/service. You should also state why this market is going to use your product and show what research has been conducted to come to this conclusion.
Marketing Program
Product Strategy
The product strategy should give a detailed description of what your product(s) are and how they are going to benefit your company. You describe which products you think will be most popular and describe which ones you want to be the most popular (The BCG Dot Matrix is very good in helping you determine this). If you are doing an individual product marketing plan, then this section would describe in detail what your product is and what strategies you have to make it beat out your competitors.
Price Strategy
The price strategy is where you will describe your key pricing issues. It is a good idea to state whether you are taking the high cost-low turnover method or the low cost/high turnover method. If you think your key selling point is going to be the price, then explain that here. If you are taking the low cost/high turnover approach then explain how your company will succeed with the low profit-margin on each product. Be sure to include rough estimates of profit-margins, manufacturing costs and end consumer prices.
Promotion Strategy
The promotion strategy is one of the most important sections of the marketing plan. This is where it can make or break a marketing program. This section should include advertising strategies you plan to engage in, any marketing strategies for your products such as attending trade shows, conferences etc. Also you should explain what message you want to promote in all of the items mentioned above. You should send the same message through all channels of communication.
Just Do It
Now that you have your plan, go out and make it real. There is no use spending months in analysis paralysis trying to write a perfect plan. Rather, have a bias towards action and go get started NOW.
Brett Pearce is a Content Developer and the Australian Community Director for zeromillion.com . Article on templateplan by Brett Pearce
Build your network faster with smarter questions
Networking can be a waste of time or it can be very profitable. What determines the difference? You - and how you approach the science of networking. To build a more profitable network you need to understand and master the power of questioning. Networking without good questioning is doomed to failure.
Follow these three ways to improve your questioning skills:
1. Prepare and ask good questions of others.
2. Anticipate and prepare for questions.
3. Ask yourself questions.
Prepare and ask good questions
Good questions will help you to better identify and target the prime prospects that you want in your network. Questions with purpose will move you faster to your goals then idle gossip. Good questions asked well will engage your networking contacts in interesting conversation.
Engaging conversation will make them think. It might make them laugh. It will help them remember you because we tend to remember interesting people. And it will help them to help you better because they will better understand your needs and mindset.
Good questions demonstrate forethought. Good questions don't happen by accident. Don't try to wing it. Networking will required a significant investment of your time. Networking done well can be very profitable for you. Why would you wing anything so important?
Anticipate and prepare for questions
If you were summoned to a job interview you would think about and prepare answers to the questions you think you will be asked. Consider every networking event as a job interview. Think about, anticipate and prepare good answers for the questions you might be asked.
Don't be like the financial planner I met at a networking event. She had a catchy opening line. Then I asked her about what books she based her investment philosophy upon or might recommend. Her halting reply was that she did not support any of the books out there. What a ridiculous answer. She immediately lost all credibility with me. That ended the conversation as I dismissed her. Her only networking tool was a clever opening line but her inability to answer my question demonstrated lack of planning and thus a useless networking contact.
Ask yourself questions
This type of question is the most important to the success of your networking. While planning your networking strategy ask yourself about your purpose, assumptions and expectations.
What do you want your networking to do for you? How will you make your networking as productive as possible? What are you willing to invest (time, thought and money) in your networking activities to enjoy the best return on your investment? How will you improve your networking skills? How will you learn the science of networking? Who are the difference types of contacts that you want in your network? How will you identify them and nurture those relationships?
Become a master of smart questions
Some networkers are afraid of questions. Why? Maybe they have something to hide. Maybe they are afraid to grow. People who want to grow are learners and learners are people who ask good questions. Albert Einstein continually asked difficult questions of others and especially of himself. Einstein would have been an incredibly effective networker.
Be aware of the myth that "there are no dumb questions". In fact there are many dumb questions - so think and prepare smart questions. "How's business?" is a dumb question. "What's new?" is a dumb networking question.
You can get better networking results when you ask smarter questions.
©ZM George Torok is author of “Your Networking Guide to Success”. Learn how easy it is to be a smarter and more profitable networker at www.NetworkingExposed.com George Torok is the coauthor of the bestselling “Secrets of Power Marketing” the first guide to personal marketing for the non-marketer. Read a free excerpt from this book at http://www.powermarketing.ca/ Find more free networking tips at http://www.business-networking-tips.net/. Article on networking business referrals leads marketing by George Torok
Follow these three ways to improve your questioning skills:
1. Prepare and ask good questions of others.
2. Anticipate and prepare for questions.
3. Ask yourself questions.
Prepare and ask good questions
Good questions will help you to better identify and target the prime prospects that you want in your network. Questions with purpose will move you faster to your goals then idle gossip. Good questions asked well will engage your networking contacts in interesting conversation.
Engaging conversation will make them think. It might make them laugh. It will help them remember you because we tend to remember interesting people. And it will help them to help you better because they will better understand your needs and mindset.
Good questions demonstrate forethought. Good questions don't happen by accident. Don't try to wing it. Networking will required a significant investment of your time. Networking done well can be very profitable for you. Why would you wing anything so important?
Anticipate and prepare for questions
If you were summoned to a job interview you would think about and prepare answers to the questions you think you will be asked. Consider every networking event as a job interview. Think about, anticipate and prepare good answers for the questions you might be asked.
Don't be like the financial planner I met at a networking event. She had a catchy opening line. Then I asked her about what books she based her investment philosophy upon or might recommend. Her halting reply was that she did not support any of the books out there. What a ridiculous answer. She immediately lost all credibility with me. That ended the conversation as I dismissed her. Her only networking tool was a clever opening line but her inability to answer my question demonstrated lack of planning and thus a useless networking contact.
Ask yourself questions
This type of question is the most important to the success of your networking. While planning your networking strategy ask yourself about your purpose, assumptions and expectations.
What do you want your networking to do for you? How will you make your networking as productive as possible? What are you willing to invest (time, thought and money) in your networking activities to enjoy the best return on your investment? How will you improve your networking skills? How will you learn the science of networking? Who are the difference types of contacts that you want in your network? How will you identify them and nurture those relationships?
Become a master of smart questions
Some networkers are afraid of questions. Why? Maybe they have something to hide. Maybe they are afraid to grow. People who want to grow are learners and learners are people who ask good questions. Albert Einstein continually asked difficult questions of others and especially of himself. Einstein would have been an incredibly effective networker.
Be aware of the myth that "there are no dumb questions". In fact there are many dumb questions - so think and prepare smart questions. "How's business?" is a dumb question. "What's new?" is a dumb networking question.
You can get better networking results when you ask smarter questions.
©ZM George Torok is author of “Your Networking Guide to Success”. Learn how easy it is to be a smarter and more profitable networker at www.NetworkingExposed.com George Torok is the coauthor of the bestselling “Secrets of Power Marketing” the first guide to personal marketing for the non-marketer. Read a free excerpt from this book at http://www.powermarketing.ca/ Find more free networking tips at http://www.business-networking-tips.net/. Article on networking business referrals leads marketing by George Torok
The Habit of Self-Confidence
The Habit of Self-Confidence
How can I acquire more self-confidence?
How can I improve my self-esteem?
I wish I could feel as "together" as everyone else seems to be...
I hear these kinds of questions and comments several times each week in my office, from some of the most outwardly successful people you could imagine.
Self-esteem is one of the cornerstones of emotional intelligence, and emotional intelligence is the foundation for a successful life. People often believe that if they could just feel better about themselves, their lives would go so much better, they would be so much more successful.
But feeling good is not the source of self-esteem.
Rather, feeling good is the by-product of thinking the thoughts, making the choices, and developing the habits that build self-esteem.
Self-esteem is not a feeling. It's a habit.
Life consists of an endless series of forks in the road. At any given moment, we are directing our energies - our attitudes, thoughts, behaviors, and habits - down the path that leads to greater self-esteem - or we're propelling ourselves in the opposite direction. It's that simple. If you suffer from low self-worth, it's a good idea to start asking yourself: "What I'm thinking, doing, or being - is it making me feel better about myself, or worse? What do I need to do differently to get me on a better path?"
The good news about this approach is that it's something anyone can learn. Have you ever learned how to ride a bike, or quit a bad habit like smoking? We're talking skills and habits here, not magic. With creativity and focus, practice and willpower, anyone can develop the skills and habits that engender high self-esteem.
I'm not especially concerned about what your background or life experience is like. Life occurs in the present moment. As the saying goes...
The past is history,
The future is mystery,
This moment is a gift - that's why it's called "The Present"!
If you begin to channel your energy now in the direction you want to go, you will get there, a step at a time.
Stepping Stones to Self-Esteem
#1: Self-Awareness
The first step toward improving self-esteem is to gradually begin to increase one's level of self-awareness A person can do this simply by noticing what's currently happening in several areas of their experience.
Since your body never lies, start by noticing any physical sensations related to your current situation, such as shortness of breath, tightness in your neck, shoulders, or back, butterflies in your stomach, headaches or body aches. For example, one of my clients, let's call him Ian, notices that when work starts piling up he gets tense in the shoulders. If he doesn't reorganize his priorities he starts to feel queasy much of the time. If he allows this pattern to continue he starts to have difficulty sleeping. However, if he can catch this pattern at its onset through self-awareness, he then has a choice. Ian can begin to choose the path of caring for and esteeming himself, and he can refrain from neglecting himself and his needs.
Next, notice any feelings you have: anxiety, sadness, panic, anger, elation. If you're not well-acquainted with your feelings, write me an email, and I'll send you a list of feeling words. Feelings emerge spontaneously from the body, so once you're clued in to your body signals, you can attach a word to the sensation that describes how you're feeling. The feeling words Ian attaches to his "tight shoulder" sensation are fear, anger, sadness, and being overwhelmed. Feelings can also be experienced as images or metaphors. Ian says that he often feels "like a tiny boat adrift in huge waves".
Now notice your thoughts. Thoughts are an incredibly important contributor to self-esteem or lack thereof. The good news about thoughts is that they can be controlled. You can use your will to direct your thoughts once you become more self-aware.
Unfortunately, many people are unaware of the extent to which their thoughts are influencing how they feel. We all have a running tape that plays a continuous stream of thoughts in the back of our minds. When Ian gets overwhelmed, he starts to think things like, "What if I can't get this all done by Friday?" "I'm such an idiot, I should be better organized...how come other people in my office seem to get their stuff done by the end of the day?" "I'll never figure this out..." As he becomes more self-aware, he will be able to notice these thoughts before they start to drag him down, and he can choose to substitute more helpful thoughts in their place.
What kinds of tapes do you have playing in the back of your mind? I've found that most people with self-esteem problems are endlessly critical about themselves, worried about what other people think of them, and often worry about what's going to happen next. As part of your self-awareness project, record these thoughts in a little notebook and over time you can begin to replace them with something better.
Lastly, notice your behaviors. What activities are you engaged in that are doing little or nothing for you? What are you currently doing that builds you up? How's your health? Are there people in your life that know you well - and if not, how can you begin to develop a support system? We all need some blend of positive relationships, satisfying work, and fun activities to keep our emotional tanks topped up.
Ian notices that when he begins to feel tanked out due to stress at work he comes home and flakes out on the couch. But when he thinks about it he realizes that while this is relaxing, it isn't really satisfying. Flaking out isn't helping him develop a life that meets his needs or fulfills his values. He's currently re-thinking these choices and making a list of activities that are both relaxing and meaningful. So far, he's considering going to the gym, taking out a few books from the library, or calling a friend.
Habits are merely thoughts and behaviors played out over time. Develop the habit of positive thoughts and helpful behaviors, and, before you know it, you will be feeling good about yourself and your life.
This article was contributed by by Lois Raats, M.Ed. Lois is a personal and corporate coach. More information on Lois can be found at http://www.coachlois.com . Article on self-confidence by Lois Raats
Lois Raats,
Knowledge Level: Novice,
Keywords: self-confidence
How can I acquire more self-confidence?
How can I improve my self-esteem?
I wish I could feel as "together" as everyone else seems to be...
I hear these kinds of questions and comments several times each week in my office, from some of the most outwardly successful people you could imagine.
Self-esteem is one of the cornerstones of emotional intelligence, and emotional intelligence is the foundation for a successful life. People often believe that if they could just feel better about themselves, their lives would go so much better, they would be so much more successful.
But feeling good is not the source of self-esteem.
Rather, feeling good is the by-product of thinking the thoughts, making the choices, and developing the habits that build self-esteem.
Self-esteem is not a feeling. It's a habit.
Life consists of an endless series of forks in the road. At any given moment, we are directing our energies - our attitudes, thoughts, behaviors, and habits - down the path that leads to greater self-esteem - or we're propelling ourselves in the opposite direction. It's that simple. If you suffer from low self-worth, it's a good idea to start asking yourself: "What I'm thinking, doing, or being - is it making me feel better about myself, or worse? What do I need to do differently to get me on a better path?"
The good news about this approach is that it's something anyone can learn. Have you ever learned how to ride a bike, or quit a bad habit like smoking? We're talking skills and habits here, not magic. With creativity and focus, practice and willpower, anyone can develop the skills and habits that engender high self-esteem.
I'm not especially concerned about what your background or life experience is like. Life occurs in the present moment. As the saying goes...
The past is history,
The future is mystery,
This moment is a gift - that's why it's called "The Present"!
If you begin to channel your energy now in the direction you want to go, you will get there, a step at a time.
Stepping Stones to Self-Esteem
#1: Self-Awareness
The first step toward improving self-esteem is to gradually begin to increase one's level of self-awareness A person can do this simply by noticing what's currently happening in several areas of their experience.
Since your body never lies, start by noticing any physical sensations related to your current situation, such as shortness of breath, tightness in your neck, shoulders, or back, butterflies in your stomach, headaches or body aches. For example, one of my clients, let's call him Ian, notices that when work starts piling up he gets tense in the shoulders. If he doesn't reorganize his priorities he starts to feel queasy much of the time. If he allows this pattern to continue he starts to have difficulty sleeping. However, if he can catch this pattern at its onset through self-awareness, he then has a choice. Ian can begin to choose the path of caring for and esteeming himself, and he can refrain from neglecting himself and his needs.
Next, notice any feelings you have: anxiety, sadness, panic, anger, elation. If you're not well-acquainted with your feelings, write me an email, and I'll send you a list of feeling words. Feelings emerge spontaneously from the body, so once you're clued in to your body signals, you can attach a word to the sensation that describes how you're feeling. The feeling words Ian attaches to his "tight shoulder" sensation are fear, anger, sadness, and being overwhelmed. Feelings can also be experienced as images or metaphors. Ian says that he often feels "like a tiny boat adrift in huge waves".
Now notice your thoughts. Thoughts are an incredibly important contributor to self-esteem or lack thereof. The good news about thoughts is that they can be controlled. You can use your will to direct your thoughts once you become more self-aware.
Unfortunately, many people are unaware of the extent to which their thoughts are influencing how they feel. We all have a running tape that plays a continuous stream of thoughts in the back of our minds. When Ian gets overwhelmed, he starts to think things like, "What if I can't get this all done by Friday?" "I'm such an idiot, I should be better organized...how come other people in my office seem to get their stuff done by the end of the day?" "I'll never figure this out..." As he becomes more self-aware, he will be able to notice these thoughts before they start to drag him down, and he can choose to substitute more helpful thoughts in their place.
What kinds of tapes do you have playing in the back of your mind? I've found that most people with self-esteem problems are endlessly critical about themselves, worried about what other people think of them, and often worry about what's going to happen next. As part of your self-awareness project, record these thoughts in a little notebook and over time you can begin to replace them with something better.
Lastly, notice your behaviors. What activities are you engaged in that are doing little or nothing for you? What are you currently doing that builds you up? How's your health? Are there people in your life that know you well - and if not, how can you begin to develop a support system? We all need some blend of positive relationships, satisfying work, and fun activities to keep our emotional tanks topped up.
Ian notices that when he begins to feel tanked out due to stress at work he comes home and flakes out on the couch. But when he thinks about it he realizes that while this is relaxing, it isn't really satisfying. Flaking out isn't helping him develop a life that meets his needs or fulfills his values. He's currently re-thinking these choices and making a list of activities that are both relaxing and meaningful. So far, he's considering going to the gym, taking out a few books from the library, or calling a friend.
Habits are merely thoughts and behaviors played out over time. Develop the habit of positive thoughts and helpful behaviors, and, before you know it, you will be feeling good about yourself and your life.
This article was contributed by by Lois Raats, M.Ed. Lois is a personal and corporate coach. More information on Lois can be found at http://www.coachlois.com . Article on self-confidence by Lois Raats
How to Assess Your CV or Resume
If your current CV or resume is not generating the interview offers you want, it is time to start assessing it. Check to see that the following descriptors apply.
Highlights how your skills and qualifications match the company's specific needs.
Employs appropriate titles for previous jobs to demonstrate clearly that you are suitably qualified for the advertised position.
Gives a concise description of your previous employers - their products, services, industry, etc. - and your role in the company.
Uses PAR statements to describe your accomplishments. P identifies the 'problem' you faced; A describes the 'action' you took to solve the problem; R describes the 'result' of the action you took.
Quantifies your accomplishments using numbers, percentages, etc.
Makes effective use of the key words and phrases contained in the job advertisement to describe your skills and areas of expertise.
Every sentence starts with an action word, for example: "increased production by 20% while saving �200,000 in operating costs" Examples of effective action words are: compiled, conducted, created, designed, developed, established, implemented, introduced, invented, maintained, negotiated, operated, organized, produced, and published.
Explains how, in your previous jobs, you increased sales and profits, improved productivity, saved time and costs, and established good customer relationships.
Provides evidence of the competencies most valued by employers, for example: your communication and interpersonal skills, flexibility, initiative, organisational ability, and teamwork.
Includes any pertinent awards or honours you may have received.
Provides your educational history and details of training related to the position you are seeking.
Employment history is logical and consistent; and gaps of more than one year between your jobs are clearly explained.
The layout is neat and uncluttered, with an easy-to-read sequence of sections and no large blocks of text.
Contains no errors in spelling or grammar; and all unnecessary words have been eliminated.
Highlights how your skills and qualifications match the company's specific needs.
Employs appropriate titles for previous jobs to demonstrate clearly that you are suitably qualified for the advertised position.
Gives a concise description of your previous employers - their products, services, industry, etc. - and your role in the company.
Uses PAR statements to describe your accomplishments. P identifies the 'problem' you faced; A describes the 'action' you took to solve the problem; R describes the 'result' of the action you took.
Quantifies your accomplishments using numbers, percentages, etc.
Makes effective use of the key words and phrases contained in the job advertisement to describe your skills and areas of expertise.
Every sentence starts with an action word, for example: "increased production by 20% while saving �200,000 in operating costs" Examples of effective action words are: compiled, conducted, created, designed, developed, established, implemented, introduced, invented, maintained, negotiated, operated, organized, produced, and published.
Explains how, in your previous jobs, you increased sales and profits, improved productivity, saved time and costs, and established good customer relationships.
Provides evidence of the competencies most valued by employers, for example: your communication and interpersonal skills, flexibility, initiative, organisational ability, and teamwork.
Includes any pertinent awards or honours you may have received.
Provides your educational history and details of training related to the position you are seeking.
Employment history is logical and consistent; and gaps of more than one year between your jobs are clearly explained.
The layout is neat and uncluttered, with an easy-to-read sequence of sections and no large blocks of text.
Contains no errors in spelling or grammar; and all unnecessary words have been eliminated.
The ABCs of Networking � You Can�t Excel Without Them!
It is said that Bill Gates’ rise to the top may have resulted from an act of networking. Apparently his mother sat on the same Board of Directors as an IBM president, and that contact led to IBM purchasing the MS DOS operating system from Bill. Think about that! As timeworn as the word networking is, it is through this process that approximately 65% to 80% of available jobs or opportunities are discovered. Networking opens the doors to the hidden job market, and if you’ve not learned this art, many opportunities may be passing you by. Here is my ABC list of networking tips that I have put together to help you move your career forward.
A
ttend as many networking events as often as you can. It’s a number’s game. The more events you attend, the more people you’ll meet.
B
usiness Cards. Have adequate supply on hand and give them out to new contacts before you end your conversation with them.
C
ontact or follow-up all leads. You never know which one will produce results.
D
ress appropriately for the event. If you are unsure about the dress code that’s in effect, call ahead to find out.
E
xplain who you are and what you do in 30 seconds or less. Give people enough interesting and relevant information that they will want to contact you for details.
F
ind opportunities. Always be on the lookout for new opportunities. They have a way of springing up when you least expect.
G
o for it! Determine beforehand how many people you would like to meet at the event and just go for it!
H
elp others. Networking is a two-way street, and it’s in helping others that you’ll be helped.
I
dentify a person you would like to meet and have someone you know and who knows the person make the introduction. Remember the Bill Gates’ connection.
J
oin other networks or associations that meet your personal and professional needs.
K
eep focused. Concentrate on the person who is speaking. It’s in poor taste for your eyes to be searching the room while you are in discussion with someone.
L
earn to listen. You need sharp listening skills to interpret and analyze what’s being said.
M
ingle. That’s the whole purpose for being there. Many of us tend to latch on to the people we already know and lose out on many networking opportunities.
N
ever use someone’s business card as a notepad (especially in front of them). If you have to, wait until the person leaves, or ask for permission.
O
bjectives. To motivate you to action, develop a set of networking objectives or goals that tell you what direction to take.
P
repare to give. Some people think only of what they can get, but giving can be equally rewarding.
Q
uickly end the conversation and walk away if you encounter a rude or abusive person. You are in search of positive and uplifting experiences.
R
elax. Almost everyone in the room is as nervous as you are. Take a deep breath, go over to someone and introduce yourself.
S
hare any information that you think will benefit your network, without asking "What’s in it for me?"
T
reat everyone you meet with respect. The decision-maker is not always the CEO.
U
understand and appreciate peoples’ differences. You will have taken the first step towards breaking down barriers.
V
olunteer your services. It provides an opportunity to showcase your skills. Many people have obtained jobs or business opportunities through volunteering.
W
ork hard at networking. If you replace the ‘E’ in networking with an ‘O’ it spells ‘Notworking’.
X
-ray. Develop your x-ray vision. This is a networking technique where you target several companies you’d like to work for, find someone who currently works for the company then begin to cultivate a relationship with that individual. If an opportunity exists in the organization, you’ll be the first to know.
Y
ou have the skills and abilities to develop effective networking strategies. Believe in yourself!
Z
ealously nurture your network. Keep in touch with those who have helped you find success and remember those you’ve left behind.
Now you know your ABCs, you’re one step closer to moving your career forward.
Daisy Wright is the president and founder of the Wright Career Solution. She is a qualified Career Development Practitioner, who has been empowering people to find success through effective career coaching strategies. She can be contacted through her website at www.thewrightcareer.com.
Daisy Wright is president of The Wright Career Solution, a company that focuses on helping people gain clarity on what they want to achieve in their careers. Her corporate work experience includes, among other things, a stint with the United Nations Development Fund for Women (UNIFEM) in New York. She was a part-time professor in the Faculty of Business at Sheridan College in Ontario, Canada, has served on the board of a nonprofit organization and has been a mentor to many individuals. She's currently mentoring a 12-year old girl, and through the Mentoring Partnership, an alliance of community agencies in the City of Toronto, Peel who offer occupation specific mentoring to skilled immigrants, she's a mentor to a university professor new to Canada. Daisy is a qualified Career Development Practitioner, and was recognized by Conestoga College as �A Graduate of Distinction� for outstanding performance in the program. She has completed a course in Electronic Tools & Techniques ! and one in eCoaching. She holds a Bachelor of Arts from Ryerson University and has authored several career-related articles. Some of her writings have appeared in industry magazines, a college textbook and a career book on interviews. She's currently writing a job search book for new Canadians. Daisy is a founding member and Advisor of Career Professionals of Canada, a member of ACP International, Career Masters Institute, Parachute Associates, Professional R�sum� Writers and Research Association, and National Career Development Association. She was recently appointed the Canadian Director for Women E-Commerce Association, International (WECAI).. Article on networking by Daisy Wright
A
ttend as many networking events as often as you can. It’s a number’s game. The more events you attend, the more people you’ll meet.
B
usiness Cards. Have adequate supply on hand and give them out to new contacts before you end your conversation with them.
C
ontact or follow-up all leads. You never know which one will produce results.
D
ress appropriately for the event. If you are unsure about the dress code that’s in effect, call ahead to find out.
E
xplain who you are and what you do in 30 seconds or less. Give people enough interesting and relevant information that they will want to contact you for details.
F
ind opportunities. Always be on the lookout for new opportunities. They have a way of springing up when you least expect.
G
o for it! Determine beforehand how many people you would like to meet at the event and just go for it!
H
elp others. Networking is a two-way street, and it’s in helping others that you’ll be helped.
I
dentify a person you would like to meet and have someone you know and who knows the person make the introduction. Remember the Bill Gates’ connection.
J
oin other networks or associations that meet your personal and professional needs.
K
eep focused. Concentrate on the person who is speaking. It’s in poor taste for your eyes to be searching the room while you are in discussion with someone.
L
earn to listen. You need sharp listening skills to interpret and analyze what’s being said.
M
ingle. That’s the whole purpose for being there. Many of us tend to latch on to the people we already know and lose out on many networking opportunities.
N
ever use someone’s business card as a notepad (especially in front of them). If you have to, wait until the person leaves, or ask for permission.
O
bjectives. To motivate you to action, develop a set of networking objectives or goals that tell you what direction to take.
P
repare to give. Some people think only of what they can get, but giving can be equally rewarding.
Q
uickly end the conversation and walk away if you encounter a rude or abusive person. You are in search of positive and uplifting experiences.
R
elax. Almost everyone in the room is as nervous as you are. Take a deep breath, go over to someone and introduce yourself.
S
hare any information that you think will benefit your network, without asking "What’s in it for me?"
T
reat everyone you meet with respect. The decision-maker is not always the CEO.
U
understand and appreciate peoples’ differences. You will have taken the first step towards breaking down barriers.
V
olunteer your services. It provides an opportunity to showcase your skills. Many people have obtained jobs or business opportunities through volunteering.
W
ork hard at networking. If you replace the ‘E’ in networking with an ‘O’ it spells ‘Notworking’.
X
-ray. Develop your x-ray vision. This is a networking technique where you target several companies you’d like to work for, find someone who currently works for the company then begin to cultivate a relationship with that individual. If an opportunity exists in the organization, you’ll be the first to know.
Y
ou have the skills and abilities to develop effective networking strategies. Believe in yourself!
Z
ealously nurture your network. Keep in touch with those who have helped you find success and remember those you’ve left behind.
Now you know your ABCs, you’re one step closer to moving your career forward.
Daisy Wright is the president and founder of the Wright Career Solution. She is a qualified Career Development Practitioner, who has been empowering people to find success through effective career coaching strategies. She can be contacted through her website at www.thewrightcareer.com.
Daisy Wright is president of The Wright Career Solution, a company that focuses on helping people gain clarity on what they want to achieve in their careers. Her corporate work experience includes, among other things, a stint with the United Nations Development Fund for Women (UNIFEM) in New York. She was a part-time professor in the Faculty of Business at Sheridan College in Ontario, Canada, has served on the board of a nonprofit organization and has been a mentor to many individuals. She's currently mentoring a 12-year old girl, and through the Mentoring Partnership, an alliance of community agencies in the City of Toronto, Peel who offer occupation specific mentoring to skilled immigrants, she's a mentor to a university professor new to Canada. Daisy is a qualified Career Development Practitioner, and was recognized by Conestoga College as �A Graduate of Distinction� for outstanding performance in the program. She has completed a course in Electronic Tools & Techniques ! and one in eCoaching. She holds a Bachelor of Arts from Ryerson University and has authored several career-related articles. Some of her writings have appeared in industry magazines, a college textbook and a career book on interviews. She's currently writing a job search book for new Canadians. Daisy is a founding member and Advisor of Career Professionals of Canada, a member of ACP International, Career Masters Institute, Parachute Associates, Professional R�sum� Writers and Research Association, and National Career Development Association. She was recently appointed the Canadian Director for Women E-Commerce Association, International (WECAI).. Article on networking by Daisy Wright
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