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A $50,000 check for doing nothing?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Archives

January 28, 2008

 

Are You Really Worth It?... Leading Employees with Strong
Personalities... Slimmer Waist, Fatter Wallet... Keeping Money
in the Bank... and More.

 

** Are You Really Worth It?
By Adrian Newman, co-founder of the WLI

We all think we're great.

That's a pretty bold statement, I know. However, let me explain it in further detail and you'll see what I mean.

Most of the time, most people think of themselves as being good, honest, hardworking people whose decisions are, more often than not, the right decisions.

Unless we're told we've done something wrong, we automatically assume that most things we do are right.

And yet, every day, we hear about murders and other violent crimes. We see companies filing for bankruptcy. We see celebrities checking into rehab. You hear about another DUI accident or some kind of scandal involving inappropriate behavior or a story that makes you say "What's this world coming to?"

Still, for most of the population, we all think we're right and our words and actions have some sort of justification. And when we're confronted with something we don't agree with, we're shocked and cry foul.

Case in point happened to a friend of mine recently.

To keep this as short and sweet as possible, the basics are that my friend was working for a company for 20 years and quit because he didn't get a promotion and because he disagreed with company policies that he felt were bringing the company down.

From what I could tell by listening to my friend's story, the company felt that their policies were fine. Furthermore, it seemed to me that my friend felt his job performance warranted a promotion, but the company felt otherwise.

Who's right and who's wrong?

Well, they're both right. And they're both wrong.

My friend has his opinions of the company's operation and of his own performance. He's made compelling arguments for both and has been rebuffed numerous times. The more times he'd be rebuffed (apparently a few times) without explanation (every time he's either been given a straight out "no" or has been ignored), the more frustrated he would get.

The company on the other hand is a small company that has been doing things one way for a long time. They are resistant to change because they fear it and are worried it will cause more harm than good. They also see my friend as a valuable employee, but probably lacking in some major characteristics that make it a non-issue when it comes to a promotion.

So, it seems like this was a non-negotiable impasse and it looks like my friend made the right decision in leaving, as he had "maxed out" his potential there.

However, he feels he's been slighted and is shocked and upset about how everything worked out. In reality, what he has to realize is that no matter how "right" he thinks he is, the facts are the company didn't feel the same way.

As the saying goes: There are two sides to every story. And they're both right.

Remember this in your next negotiations with anyone: spouse, boss, bank, kids, etc.


 

** Leading Employees with Strong Personalities
By Doug D'Anna, the "Hundred-Million-Dollar Man"

Sometimes in your career, you will be surrounded by strong- minded individuals. Though this generally makes for an extremely productive environment, it can also sometimes make for a difficult situation if you have to manage these strong- minded individuals.
 
With too many strong personalities in your midst, it can be tough to get people to do what you need them to do — and in the manner that you believe it needs to be done. Strong personalities come with strong opinions, and this can result in a lot of competition.

As a leader, you need to be able to make decisions and stick by them. However, in this type of situation, it can be a lot harder to do that with other decisions being tossed around. It's one thing to be a business owner who leads your staff, but it's another thing entirely to lead a group of your co-workers in completing a task.

The first thing that you need to know is that you have been chosen to manage a task because your employer trusts you. This should be a big boost to your self-confidence. You know that you are skilled enough and dependable enough to get the project completed in the way that your boss needs it to be completed.

You have to keep this in mind when you're leading people who consider themselves to be leaders, as there may be resistance to your new role. You need to be confident in yourself and your abilities, and you need to express it to your team.

If you face resistance, then you need to be strong and stand behind your decisions. If you waiver, some people will take advantage of your weakness. You must show them that you are comfortable in a leadership role and that all your decisions are essentially final.

This, of course, doesn't mean that you shouldn't be open to suggestions. A good team works together to produce the best possible result, but in the end, the project leader is responsible.

You have to accept that the members of your team will have suggestions and that they will want their opinions heard and considered. A good leader listens and considers the suggestions of his team.

You need to show respect to your team members and allow them to play a role in the project. You are there to manage those roles as best you can.

A good leader listens to the people around them. They are able to hear someone's suggestion and take the best points and most usable parts from it. That's why they are in the role they are — because they are able to bring out the best in people.

The best way to get your team to work well together is to utilize each individual's strengths. People appreciate when someone acknowledges the tasks they excel at, so delegate accordingly. Put people in the roles that will allow them to shine — it will help the project get completed efficiently.

You also have to be willing to show your appreciation for your team. Your team members know what their tasks are and how to do them, but it doesn't mean that they don't want to be acknowledged for going above and beyond the call of duty.

You have to take on difficult tasks and excel at them if you want to get noticed. It would be easy to allow the members of your team to take over, but you have to remain in the leadership role and avoid being steamrolled by these strong personalities. If you can manage your team well, it will be all the better for you when it comes to impressing your employer.


** Slimmer Waist, Fatter Wallet
By John Hurd, Chief Wealth Researcher

Under that bulky sweater could be something that is holding you back from getting more money.

What may now seem like a few extra pounds, could soon start sucking money out of your wallet, and you wouldn't even know.

Sure, we all know that staying in shape is a good way to feel better about ourselves. However, losing a few pounds and becoming more active can actually help to fatten your wallet.

Here's how.

Your first step is to look at your morning routine. For many people, the lure of breakfast sandwiches and cream-and-sugar- filled coffee is too great. Many people fork over around $5 each morning, and many are spending even more.

Not only can you cut the fat from your waist, but also by making a simple, healthier breakfast, you'll be keeping that money where it belongs — in your pocket.

Now, just because you'll be eating healthier doesn't mean you'll be sacrificing taste and convenience. Just check out the "organic" aisle at your local grocer. It's packed with healthy options you can easily substitute for that fatty sausage sandwich.

The next step is to get active. Giving up the morning commutes by walking or taking public transit is one way to cut a huge portion of your daily spending. However, for you that may not be an option. Instead, try to get at least 45 minutes of activity in each day. Schedule dinners out at a restaurant you can walk to or take your check to your bank on foot.

The more active you are and the healthier your diet is, the more chances you have of seizing new opportunities to make money. You'll also be passing by those unfortunate times when an unhealthy body can cost you money, such as increased medical expenses.

While you continue to focus on your wealth, don't let your health slip away. True success can be measured in the balance you maintain of your wealth and your health.

 


** Keeping Money in the Bank
By Michael Newman, the "Money Finder"

How many times per year are you hit with a financial emergency? You know, your car breaks down, an appliance needs repairs or you have to go to the hospital for a checkup. Although that's a short list, my guess is that you experienced at least one of those occurrences in the past 365 days. Not only would I bet on it happening, but I'd also wager that your reaction wasn't very positive. After all, each one of those emergencies can come with a fairly hefty price tag.

The funny thing is that you know that at some point one of these emergencies is going to arise. And how do you know? Because it does every year, leaving you feeling just as financially strapped as it did last year...and the year before that.

Well, there is a way to defeat these emergencies with ease and save yourself the stress they create in their wake. All it takes is a little bit of foresight.

Trying to keep at least $500 in the bank at all times is the best way to make sure emergencies don't hang around for months and add to existing problems. Keep $400 in a savings account and $100 in a checking account for easy access, to be used if, and only if, needed.

Generally speaking, $500 is enough to cover the cost of an average car repair, new appliance or a variety of other emergencies that may arise. By using the cash to pay for it, you can avoid using credit and adding the unexpected expense to any mounting debts.

Along with being enough to cover these bumps in the road, it is also a relatively manageable amount. Especially with tax returns coming around the corner, it could be a great time to put some of the money you receive from the government into the fund.

Of course, you may be thinking to yourself, "If I get an extra $500, I'm going to put it towards my existing debt, or buy myself something nice." To address  this, I must remind you to remember how many times having a few extra bucks could've saved you from a big problem. Well, here are those extra bucks. Don't think of the $500 as stagnant cash, but as money that is already spent. On what exactly is still to be determined.

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