3 ways to successfully mix businesses with pleasure

Feb 062013
 

mix business and pleasure, win win, keep it professional

It’s easy to create mental barriers between “friends” and “business.” But there are ways to nurture business relationships with friends–without jeopardizing either. Here are three things to be mindful of to make sure both sides are happy.

1. Seek the win-win.

Put yourself in the shoes of your friend and seek out ideas for how you might be able to solve his or her problems. The stakes don’t have to be particularly high early on; the key is to find a way that you can both benefit from an initial business interaction. A quick win can be something as simple as sharing connections or finding similar challenges that you can problem-solve together. Regardless of the situation, find some way to help each other and keep the conversation alive so you can continue to find situations that benefit both parties in the future. Continue reading »

 February 6, 2013  Posted by Jason Vance at 6:00 AM Leadership ,  No Responses »

3 ways Gen Xer’s are getting rich in today’s economy.

Feb 092012
 

 

generation x, business coaching, generation y, small business growth

When most people think about investing they automatically think about the market. However, they are missing the boat on what investing truly is. Investing is using your hard-earned money(resource) to create more money(resource). Simply putting your money to work. The days of handing your money to a financial advisor and forgetting about it are over. There is definitely a time and place for that type of investing, but it is not the end all be all.

Those of us who are still in our earning years and who have at least a decade left before retirement. We need to start thinking about the big picture of investing. If you are truly interested in earning a higher return on your money. We need to start thinking about getting our hands a little dirty.   If you are interested in making sure you are in a good financial position come retirement, than you may need to get out of your investing comfort zone. This means investing in areas where there is real stability and a real return.

My parents(baby boomers) invested heavily in the market. This was their retirement.  They put it there and forgot about it. That is they forgot about it until they lost it. They did what the majority did and got what the majority got, when the markets started turning south a few years ago.

As a Gen Xer, I feel the millennial and Gen Xer’s will have investing success with a more diversified approach. Now is the time to acquire your assets. Saving is good, but if you feel comfortable putting your money to work, than put it to work. Some of the investing options that I encourage others to get involved with are.

1. Buying businesses.

For those of you that are unhappy with your current job, or have always thought about starting a business. Now is a great time to tap into your entrepreneurial spirit and start a business. Most people think owning a business is risky. As a business owner you have multiple customers or “bosses.” If you lose a customer here or there it may affect your revenue, but it  isn’t going to put you out of business. However, when you have a job and you lose your job you lose your one customer, your boss. Which results in  you losing 100% of your income when the guy upstairs decides so.  As a business owner I feel much more comfortable being in a position that I have full control of my success.

2.Buying real estate.

Buying residential real estate is very similar to buying a business. In fact I view each of my properties as an individual business with revenue and expenses. I then look at my portfolio as a group of businesses working towards the common goal of debt reduction through full occupancy. I love real estate, it is one of the best business models that I know of. The 3 common ways to make money with real estate are 1. Cash Flow, 2. Appreciation, 3. Tax deductible depreciation.

3. Building your current business into passive income money tree.

Whether you choose the first of the second investing option above, number 3 is how you turn your business or your real estate portfolio into a revenue stream for your retirement years. Build your team, build your systems, pay down your debt, or fix up your property. These are the common ways to turn your business into passive income.

I truly believe that these type of investing options are the best ways to reach your personal goals over the next 15 years. I encourage you to get out of your comfort zone, get involved, and take action.

What are you investing in?

 February 9, 2012  Posted by Jason Vance at 6:00 AM Growth , , ,  1 Response »

Why generation Xer’s are getting the shaft in today’s Business Climate

Feb 022012
 

business coaching, service coach, managing cash flow, seasonal businesses

Sure, as business coach, business leader, and trusted advisor I am supposed to remain positive. I am supposed to look at the glass as though it is half full.  Do you believe that the economy is the reason that your business is struggling? If you would have told me that a few years ago I would have said  the poor economy was just an excuse. I would have said if you “believe” something to be true than how could the outcome be any different?

We’ll the time has come(2010). I do believe that there is something going on with the economy that is affecting our businesses. And I believe that it isn’t going to get better anytime soon. We are currently in what is known as a Continue reading »

 February 2, 2012  Posted by Jason Vance at 6:00 AM Growth , ,  5 Responses »

Hey. What happened to the holiday party?

Dec 212011
 

 

In today’s economy it seems that everybody understands when a company decides not to throw a holiday party. Employee’s understand that times are tough and having a holiday party is just not something that is expected anymore. Most employees of small businesses are just happy to keep their jobs these days.

Yes, I think what we are talking about is the expectation of the holiday party in today’s small business environment. Has the downturn in the economy changed the holiday party landscape for ever? Or is this just a temporary shift in expectations? What do you think? Please comment below.

Did your company throw a holiday party this year? Ya, mine neither. Do you plan on throwing one next year? ha ha ha. We’ll that depends on the expectation now doesn’t it. Personally, I think the businesses that are currently profitable and successful today(2011-12) can expect to blow off the holiday party until the unemployment rate gets back to its historical position. We are good for another 2-3 years.

Now that doesn’t mean that you can be a Grinch for the next 3 years. It means that you can use the dollars towards buying new equipment. It means you can pay down your line of credit a little. It means that you need to start thinking about where you want to be(capacity wise) in 3 years. I believe this is the Gen Xer’s current window of opportunity.

 December 21, 2011  Posted by Jason Vance at 7:00 AM Growth, Team , , , , ,  No Responses »