What You Need to Know for Successful Work Life Balance

An independent consultant, freelancer, or just one who is self-employed  can be best defined as one who chooses not to be an employee; 

one who is willing to depend upon his or her own talents, abilities, and expertise for continued existence; one who is a risk taker - knowing that there is no weekly, semi-monthly, or monthly pay checks; 

one who may seem to be a little crazy and weird to his peers, but one is willing to try to make a difference in the world.

The Life of the Self-Employed
The life of a self-employed means that in working for yourself, you have to organize your own day. I organize my day around set blocks of time and types of task . Your choice of several calendar applications allows you to to this. 

I personally use Google Calendar which has proved to be great in helping me to do so. For example, you may break your day down into one hour segments or thirty minute segments depending on the type of task and how much time may be needed to complete that type of work.

Some of your tasks might require more time to be spent on the phone. Consequently, you may allow an hour for phone calls and follow-up to phone calls, while you may allow just thirty minutes for reviewing reports, and an hour for billing. 

The day and times allocated to each type of task may vary depending upon the type of work that you're doing. 

Know What Adjustments You Need to Make
Some type of task may be required each day, while some might just be required just once a week. The main thing is that over time it become clear as to how much time you need to allocate to the specific type of task week and what adjustment you need to make

A typical day of a self-employed person includes:

 a. making phone calls,
 b. checking e-mails,
 c.  keeping appointments,
 d. reviewing reports,
 c. writing reports,
 d. billing clients,
 e. going to meetings,
 f. and writing letters.

And, of course, until you become well established, you have to consistently obtain work which includes prospecting, asking for referrals, dealing with no answers, and marketing. Getting paid for your work includes billing, following up on billings, and negotiating rates.

Find the Work Life Balance
Finding the work-life balance can be a challenge. Being  self-employed means a willingness to accept extended periods of working alone while balancing that need with time to have fun and to enjoy your relationships. 

That means dealing with the challenge of finding those times and making those times meaningful.

Over time you want to develop the reputation as one who puts the client first; one who is willing to take the extra step; one who is sincerely committed to the idea of adding value to what you do; and one who is willing to make a commitment to becoming an expert in your chosen field.

Are you willing to make the commitment? Leave Your comments below.

8 Important Financial Terms for Hacking Your Business Future

When you're asking for capital to start or expand your business, it's important to know the key financial terms the financiers use and what these terms actually mean. 

I've included a brief summary of these financial terms to help you in your efforts:

1. Financial Statements: Used as a reference for Profit & Loss Statement (which shows revenues and expenses and your income or loss) and the Balance Sheet (which reflects your assets, liabilities, and owner's equity).

Additional financial reports such as Cash Flow, Break Even Analysis, Sources and Uses of Working Capital, and Financial Ratios Analysis are also often included.

2. Debt or Equity Capital: Describes what kind of capital you are seeking. Debt is usually in the form of a loan, promissory note, mortgage or other legal instrument. Equity is an ownership position in the business.

3. Rate of Return (Yield): The primary purpose of investing your money or getting other people's money is to earn a return on capital. This number indicates what profit or interest investors or lenders receive for investing. Prior to approaching any source for funds, you should know what kind of yields they are seeking.

4. Cash Flow: This is the life blood of a company. Cash flow is the generation of funds available to pay expenses and returns to investors or lenders. Cash flow reflects the timing and amount of inflow and outflow of funds.

5. Working Capital: Usually this figure represents total assets that will be converted to cash within a year minus liabilities that must be paid within a year.

6. Collateral: This is property accepted as a secondary source of repayment of a loan or other obligation.

7. Break Even Analysis: A method of assessing a company's profit potential downside risk. Expenses should be separated into variable costs (i.e. labor, materials, commissions) and fixed costs (i.e. rent, utilities, salaries, insurance, etc.). With these costs and estimated revenues per unit, you can determine how much product/service must be sold to cover costs.

At this volume, your company incurs neither a profit nor loss. The break even analysis is an important tool to illustrate the effects of product price changes, cost increases or a reduction in demand on the company's profitability.

7. Margin: The difference between revenues received and expenses incurred and commonly expressed as a percentage or dollar amount. Gross margin is the difference between total sales revenue and total costs of goods sold. Net margin is the difference between total sales revenue and all costs associated with producing goods, including administration, taxes, and other overhead expenses.

8. Leverage: The ability to borrow a larger amount of money than a company has invested in property or assets.

Now Hack Your Personal Finances in the Age of Trump.


What are Your Thoughts. Leave Your Comments Below.

9 Best Ways You Can Deal with Stress Once and For AlI

Untreated stress can lead to a host of problems, including physical illness such as ulcers, heart disease,and high blood pressure. 

People exposed to stress over long periods are also prone to develop depression, feelings of hopelessness and inferiority, loss of sexual interest, memory problems — the list is virtually endless.

Each of us, at some time, encounters a period of high stress as a result of some change in our lives. Whether caused by a job change, a loss of someone close, a new relationship or even a financial setback, the stress can feel overwhelming. 

To cope with the changes that confront us and to adapt in a positive manner, it is helpful to: Secure adequate information (get to know as much about a situation as possible so as not to misjudge); 

Maintain a positive self-image (don't demean or blame yourself); Maintain autonomy (in other words, stand on your own two feet—it's up to you to make the final   choice).

Here are the 9 best ways ever to deal with stress once and for all and thereby decrease your risk of developing other complaints.

1. Identify and address the problem producing the stress. Often those who are under stress first attempt to relieve the stress by attacking the symptoms: taking medication, getting more sleep or changing eating habits. Although sometimes helpful in the short term, these methods can actually prolong the stress by leaving the underlying cause untreated. Instead, take time to identify the stressful situation, which may be some aspect of your job, your relationships with others or another similar

2. Circumstance. Once you have determined the source of your stress, you can take control and address the problem. For instance, if your work situation is causing you stress you may decide to discuss possible solutions with your boss. By taking charge, you reduce the feelings of helplessness and being "out of control" and take an important step in relieving the source of your stress.

3. Learn to relax. What if you've identified what you believe is the source of your stress and yet decide that it's impossible to change? Then you can take steps to reduce the effects such situations have on you by learning to relax. One of the easiest ways to learn to relax is to deliberately try to make yourself tense and then relax specific body areas slowly, one by one.

5. Exercise. Not only does exercise make you feel better by doing something positive for you, but recent studies indicate that such activity can help your body release its own natural opiates, called endorphins.

6. Devote time to hobbies and outside Interests. Immersing yourself in hobbies and other outside interests can often reduce the intensity of the stress by taking your mind off the stressful situation. Worrying only increases your stressful feelings.

7. Talk to someone. Talking about your problems often helps to put things into perspective. In this way, you may realize solutions you never thought of or at least gain a better understanding of whatever is bothering you. Often simply airing your feelings to someone else brings immediate relief.

8. Laugh. Amazingly enough, a good belly laugh can sometimes relieve tension and indicate that you've come to terms with the problems that are causing the stress. If you can laugh at the situation, you are that much closer to being ready to do something about it.

9. Concentrate on having fun. A survey conducted by Dr. Martin Snyder at the United States International University indicates that engaging in pleasurable activities may actually reduce symptoms of stress. 

The survey suggests that in order to combat the effects of stressful living, one should participate in more social events and, simply, have more fun. Exposed to the same degree of stress, those people who enjoy themselves more report fewer symptoms associated with stress than do those without pleasurable activities. 

So if you can't beat the stressful situation, at least alleviate its effect on you by going out and having a good time.


Leave your comments below.