Managing Your Biz

  • New Investor Tips for Saving and Investing Your Money

    To get ahead financially in the twenty-first century, we must save our money and invest strategically to build financial stability. It doesn’t matter where you are in finances, but where you can go with planning and self-discipline. If you’re working a nine-to-five job on a minimum-wage income, there are opportunities to make additional income. Keep your mind focused on your financial goals and you’ll eventually see positive results in your savings to invest in your future.

    Investment opportunities are available for all income earners regardless of how much money they earn. Investing is complex, requiring much research on investment options, the national and global markets, and how to invest. It is necessary for decision making and reaching your desired goals. The information in this article will provide guidance on safe investments for new investors and what to research before investing your money.

    Top Stocks for Beginner Investors in 2020

    The entertainment stocks are climbing the list of investing experts’ top picks among technology, pharmaceutical, and biotech stocks. The hottest entertainment companies worldwide are Disney, Comcast, AMC, Time Warner, and Sony. Among the list, Disney, one of the oldest entertainment brands dating back to the 1930s came in number 4 in a round-table discussion on the top stocks in 2020 with expert investors.

    When Disney went public with its streaming service investment, its stock increased. The company is capitalizing and in 2018 had $4.5 billion in profit. Much of its profit came from acquisition expansion in sectors of the entertainment industry, including Marvel, Pixar, ESPN, 21st Century Fox, and ABC.

    Aspen Technology was the first stock pick to make the list of stocks for new investors to consider in 2020. Autodesk came in second and Danaher was third. The investment experts placed General Electric as fifth and Intuit as the sixth stock.

    Ways to Save and Invest

    To start saving while working a minimum-wage job, you have to create a budget and track and control your spending. There are plenty of free financial apps to help you with monitoring income and expenses. Now may be the right time to consider making money on the side to save for future investing. When you have enough money in your savings, consider investing in vending machines.

    The key is to place them in busy establishments, such as grocery stores, schools, college dormitories, and hospitals, for example. Before purchasing or leasing vending machines, research its quality and functionality features. You can save your profit to invest in stock, mutual funds, or commodities. To receive maximum gain on your invested money, it must be a long-term investment.

    There are other opportunities to earn supplemental income for saving and investing. Be creative and put your skills to work by offering services and products in popular demand. It is a start to becoming financially independent by generating and increasing your income.

    Tips for New Investors

    Beginner investors much educate themselves on investments or rely on the expertise of a licensed broker, investment advisor, accountant, or financial planner. Individuals investing for the first time on their own must first create a financial plan including how much they can afford to invest. Next, set financial goals for savings and investments. Then, determine how long you want to invest, long-term and/or short-term.

    The best place to find reliable resources and information pertaining to investments and registered securities is the U.S. Securities and Exchange Commission (SEC). New investors have options for online and direct investing and dividend investment if they want to invest on their own. If you don’t have time in your schedule to study and learn about investments, hire an investment professional.

    Investors must learn to research before investing in stocks and other investment products. Research enables them to make safe and strategic investing decisions. They have a better understanding of the risks involved and their options of stocks, bonds, mutual funds, ETFs, and currencies. SEC has an EDGAR database for investors to ensure the registration of all securities.

    Invest and reach your financial goals with self-discipline in spending and saving. If you hire a professional, also educate yourself on investments to monitor the performance of your investment portfolio. Education and research are important components for successfully saving and investing your money for maximum returns.

  • Assigning Tasks To An Assistant

    It’s no secret that outsourcing can really help you grow your business. It allows you to hand over some tasks to an assistant, which frees up your time, enabling you to work on projects that will actually grow your business.

    The whole process of delegating can be scary – especially if you’ve never done it before. Here are some tips on how to delegate tasks:
    Delegating responsibilities is just good business.  If you have an assistant, particularly a good one, it is important to keep them busy and to make sure that they are communicated with and respected particularly when assigning tasks.  Here is how to handle assigning tasks to your assistant for optimal results:

    Step 1.  Establish a system of communication, including checks, balances, and deadlines.  There are many software tools and programs that make this process automatic including Microsoft Outlook.  It is important to establish a system of communication so that deadlines can be set, expectations can be outlined and your assistant can take on the task with little management from you.  If you, as the manager, have to spend too much time facilitating it reduces or eliminates the benefit of having an assistant.

    Step 2.  Communicate the task.  Using your established communication system, email, or telephone communicate the required task.  Make sure that all deadlines, resources, and task responsibilities are thoroughly communicated.

    Step 3.  Ask questions to make sure task is understood if yes then move on to

    Step 4.  Let go.  This is critical.  If you’re unable to let go of a task, you turn into the worst type of manager – a micromanager.  This is someone who must have there fingers in every aspect of the business and is unable or afraid to let go of some tasks.  When you let go, you can focus on tasks required to grow your business and improve profits.

    Step 5   If the task is unclear make sure your assistant is comfortable asking questions and seeking clarification.  It may be with some tasks that training is required.  If training is required, establish a method of completing the training and potentially compensating them for their training time.

    Step 6.  Follow up as defined when task was assigned to make sure there are no problems or questions about the task and to ensure that it is on track.

    Step 7.  Upon completion of the task provide feedback.  If it is all good
    feedback – great!  If some constructive criticism is required, remember to sandwich it between positive feedback for best results and to ensure a quality working relationship.

  • Great Tool For Service Based Business & Outsourcing

    If you have a service based business, such as virtual assistance, I recomend Base Camp as a great tool for staying in touch with your clients. This is also a great way to keep in touch with any of your employees if you happen to outsource tasks for your business.

    Here are some tips on how to set up an account within the program:

    Base Camp is a project management software program that not only enables you to create to do lists and share information with others, it allows you to track your time on certain tasks.  For a business owner this feature alone can be invaluable.  Here’s how to set up an account:

    Step 1  Choose your level.  Base Camp offers six different plans with prices ranging from free to $149.00.  Choose the plan that best meets your needs and don’t worry if you over or under project your needs, they allow you to change your plan quickly and easily and you get a 30 day free trial.

    Step #2  Once you’ve created your account you can upload your logo and change the colors of your account to better fit your business personality.

    Step #3  Create logins for other people by clicking on the very last button at the bottom of the welcome page.  It says “create logins for other people.”  Go ahead and click on add a person, you have been already named the administrator of the account.  Fill in the information required.  Decide if you want to give them open access to all projects, send them a note and create an ID for them.  When finished, simply click “add this person,” and you’re done.

    Step #4  Check your settings.  On your dashboard page you’ll see several options in your top right hand corner of your screen.  Settings is the last option.  Click it.  This is where, if you haven’t already, you can change the look of your page.  You can also make security changes, add message and file categories, and modify your email notifications.

    Step #5  In the same dashboard page, now click on templates.  Templates can be used for repeat tasks, however if you want to assign responsibilities you’ll have to do that from within a project. You can use that template in any project you wish.

    Step #6  Create your first project.  Go back to the dashboard main page and the very first thing you’ll see at the top are the words “Create your first project.”  Click on it.  You’ll be taken to a screen where you can name your project.  You’ll also have the option of giving others access to this project.

    Step #7  Now you have the opportunity to write messages, create a to do list within your project, create milestones, create a writeboard to enable collaboration on documents, set up chats with fellow workers, track your time by using the time button and simply entering the hours you worked on a project and a description of what you did, and uploading files relevant to the project.

    Base Camp is a valuable software program because it handles a variety of project management tasks and is extremely intuitive – anyone can use it successfully and with ease.

  • Don’t throw in the “holiday towel”

    The holidays are here in full force; life is already getting busier and more hectic. Unfortunately, the pace is only going to be picking up, and it won’t be letting up until sometime around January 7th…

    It is really easy to get distracted and put your business aside during this time of year.  If possible, stay focused and keep working.  If you are really swamped, it’s okay to reduce the number of hours you normally work… we’re not trying to give you a heart attack.

    If you put things aside now, you may lose momentum and not be in “full business force” again until February or March…. You know how hard it is to get back into the groove after a vacation! If you keep working now, you’ll have an easier time to pick things up after the New Year and hit the ground running.

    So, for the sake of your business (and your pocketbook), try to keep working each week and continue making progress!

  • Advice For A Crowded Inbox

    I don’t know about you, but there are days when I wake up and my inbox is so full it makes me want to cringe! Of course, having a full inbox is a sign of good things, so I am not complaining. There are things you can do to manage your email. Alice Seba wrote this post on her Internet Marketing Sweetie Blog, and I thought you might find this pretty helpful:Click Here To Read: Three Thoughts Thursday: Protecting Your Email Inbox

  • The Importance of Seeking Outside Assistance for Business

    Delegating is a word that is often thrown around. No matter the industry, it’s a keyword for a reason.

    Delegating is something that any business owner or high-quality salesperson should take into serious consideration.

    By delegating tasks to others aside from yourself, you will always be able to find time for you to perform the “big picture” tasks.

    Delegating means that you are handing over the smaller things for others to take care of. This requires a great deal of trust, but it will always pay off in the end through an increase of freed up time for you to perform at your very best.

    Even if you are not a business owner, if you are a busy person, then hiring an assistant to take care of scheduling and similar tasks for you will free up so much time in your daily schedule.

    As a top-notch salesperson, you may already be aware of some of the masterful strategies that it takes to close in on a deal. If you are not fully aware, then it may be necessary to do your research. It’s true that some people are natural born salesmen and saleswomen, but for most people, it does take a great deal of learning how to be more strategic in your approach to making a sale. Car sales, for example, takes a ton of practice to get down right. You have to learn how to ask all the right questions and in the right ways. Timing is key, so there is a certain sense of finesse that a sales leader learns over many years of being in the game. As a salesperson, you learn how to ask the right questions depending on who you are talking to. Know your audience and adapt to the mood of the room.

    Part of being a master at strategy is knowing that you cannot always do things all on your own. Being a team player is always necessary when you’re in a trade that is meant to appeal to the general public. You will be relying on co-workers to have your back, your boss (if you have one) to give you the right guidance at the right times, and a financial adviser is also suggested for dealing with the monetary side of things. Come tax season, your financially educated allies will have your back when you need them most.

    The thing with hiring a tax-savvy professional is that they will always be able to see the things that you don’t. Come tax time, you will already be busy enough as a top-selling salesman. Hiring someone else to do your taxes for you will help you get the best return. A tax expert will be able to spot all of the loopholes for everything from the IRS mileage rate for taxation all the way to the more tedious details like overlooking an amount to pay back taxes on. Tax pros will know how to prevent you from getting in over your head by helping you understand how much you will need to put aside come tax time. That is an invaluable resource for those who are entrepreneurs or for those who consider themselves independent contractors.

    The powerful tool that is social media is what makes marketing oneself entirely possible these days. It wasn’t too long ago that you had to hire out for all of your marketing needs. It’s true that hiring a marketer for your team won’t hurt, but they no longer have to do all the work. Not to mention that marketing yourself on social media is completely free. As a salesman or saleswoman, it is an invaluable resource to put yourself out there on as many social media sites as possible. Since it doesn’t cost a dime to join these social sites, you’ll want to take advantage of as many as you can so that you have as much exposure as possible. The more that the public sees you interacting on social media sites, the more personable you will come across. This will make you and your business seem more down-to-earth and approachable. There may also be many niche marketplaces that you can access on certain social media sites that you would not have been aware of otherwise.

    Don’t be afraid to get some help where you need it in certain areas of your life. Things will go smoother and you can look to the future with confidence.