When it comes to business and economy, bad news is pouring like rain; go to any news website or social bookmarking website and you will find scores of links telling you what a mess we’re in. Businesses are crumbling, banks are failing, real estate is dissolving, and a new study has revealed that 80% Americans are stressed due to the prevalent economic conditions (Source). So when it seems the skies are falling, I know it may feel like rubbing salt over the wound if I tell you such conditions can be used to your benefit.

I’m not saying take financial, emotional or physical advantage of your family members, friends, colleagues, or neighbors. Whether we like them or not, adversities are like vaccinations that make us stronger as individuals, as a society and as a civilization.  It is through hardships that we become more perceptive towards human values, towards togetherness and towards the beautiful world around us. Whenever we have grown as people it has been through hardship. Unfortunately the law of survival of the fittest manifests most prolifically during such times; some people survive and come through victorious and some don’t (the recent family-suicide-cum-murder).

So what makes you victorious, what differentiates you from those who succumbed to the pressure and couldn’t make it? You are victorious when you can use even adversity to your advantage.  Here are a few things to consider:

Read the rest of this article »

The events of the past few months and especially this week are disturbing and troubling at best. Food and gas prices are rising faster than they have in a long, long, time. The value of our retirement accounts are on a wild roller coaster ride and our incomes are not keeping pace with inflation. It’s a scary time and one night I was wondering if there was anything that we can do to calm our fears and help us sleep at night?

The other night I was particularly restless and decided to go downstairs and started watching The Matrix. I watched the movie, the scene selections, listened to the audio commentary and viewed every piece of footage on the DVD. Then I stumbled across the strangest scene of all – it must have been a ‘deleted scene’ that didn’t make it into the released version of the movie. In this scene Morpheus was explaining to Neo how to survive troubled times. I couldn’t believe what I was seeing and even felt the back of my head for one of those ‘Neural connectivity ports’.

Read the rest of this article »

There is no shortage of bad news on the economy. Falling house prices, rising gas prices, rising unemployment and falling growth. Even on the most optimistic assessment the future prognosis is bleak. This recession has already caused hardship for those with risky mortgages; rising energy prices means everyone is being affected in some way. These are some tips to deal with the current economic downturn.

Be Flexible

An economic downturn can force us to change direction. Maybe we will lose our job or are faced with declining incomes. Unforced change is rarely welcome, but, if we can be flexible to changing circumstances we will be better able to deal with any new situation we find ourselves in. Flexibility is particularly important in today’s modern economy – full time jobs for life are far less common these days. These are some practical tips to increase our labour market flexibility.

Keep improving your skills. Look for opportunities to develop relevant skills – IT, foreign language, vocational qualifications. It is these extra qualifications which will help in job search and job retention.

Don’t have a fixed mindset. Just because you have had a 9 to 5 job for the past 10 years doesn’t mean this has to be your future. It is important to be open to new opportunities and job prospects, otherwise we unconsciously close off many avenues and income sources.

Be willing to travel. Any downturn is often focused in particular regions or sectors of the economy.

Look beyond your sector. Some sectors such as auto industry, estate agents, construction are being very badly hit in this recession. Don’t fight a losing battle, if your made unemployed in this area, it is better to seek work in different sectors. You could always consider opening a pawn shop – apparently business is booming there.

Be willing to work for yourself. Self employment is one of the fastest growth areas of employment. It involves more risk, but, also offers more opportunities.

Read the rest of this article »

What challenges do we really face when we start our own small businesses, and how can we overcome them? What does it take to make the leap of faith? And what are the rewards of being entrepreneurs?

I have been interviewing successful entrepreneurs for my blog, Yes to Me. So far, I have posted ten articles for this series, interviewing thirteen entrepreneurs (three posts feature a pair of entrepreneurs). These are small business owners who have built profitable businesses that resonate with who they are. Most are bloggers, or at least have web presence, but their businesses vary greatly, from internet marketing to pet insurance company. They include men, women, young, older.

Are there common traits among these entrepreneurs? I think so. This article reviews their answers to two of my standard questions and explores the theme among them so that we can learn from the mistakes and victories they have so gracefully shared with us.

What were the biggest challenges when you were starting as new entrepreneurs?

Lack of money, lack of sales / marketing expertise and self-doubt are the top three challenges they site, followed by lack of business plans, management issues regarding the employees and business partners, time management and multi tasking, and more.

Depending on the business, the capital it takes differs, but even for a one-person operation, money is a challenge. Some of my interview guests mentioned what it was like to bootstrap, and I’m guessing even the ones who didn’t mention it probably went through similar challenges.

The issue of money gets aggravated by the lack of sales and marketing expertise. Many new entrepreneur have the technical skills of their trade but not the sales skill to bring their products and services in front of their target customers in an effective way. They struggle to define their target clients (Stephen) and to find the right pricing (Susanna). They may not have many contacts to network (Monica). Harry says, “We had the skills and the business knowledge we needed, but we knew very little of bringing this to the virtual world.”

Read the rest of this article »

It is an oft repeated axiom that money cannot buy happiness. While this is certainly true, poverty will not buy happiness either. Some people become very wealthy, yet struggle to enjoy their lives. On the other hand, others manage to go through life with very few money problems simply because they are able to make the most of what they have.

Ideally you should try to combine both prosperity and happiness. To do this I recommend the following steps:

1. Learn to Value Simplicity

The aim of life should not be to accumulate as many possessions and as much wealth as possible. We should learn to be content with what we have and appreciate the benefits of simplicity. For example, if we clear out our unnecessary clutter we will achieve a greater feeling of space and freedom.

If you feel happiness is directly related to material possessions, you are making a mistake. Happiness can be gained just through being content with a small amount of possessions. Our inner wealth is not just about what we have, but what we are content to live without.

2. Do Not Be Attached to Your Money

Does it pain you to spend your own money – even if it is for something useful? Even someone like Bill Gates can feel uncomfortable spending his billions; it is said he used to always travel economy class because he didn’t see the need to spend more money on first class. The problem with this, however, is that if we are always reluctant to spend money we miss the whole point of earning it.

A good attitude is to see money as a circular flow – that is, spending money enables more to come into our lives. It is not like a big dam where we just try to hold onto it all. We need to let the money out by spending on useful and necessary things. It is no good having a stockpile of water unless we use it to generate power; similarly it is no use accumulating large savings if we we feel miserable spending it.

Read the rest of this article »

Unless you have been living under a rock, you will know there are some major problems in the world’s financial markets at the moment. Working for a global bank, I guess you could say I have a front row seat for this debacle that in recent days has worsened with the stunning collapse of Bear Stearns.

Much of what I have read has blamed Wall Street for turning the problems related to subprime lending into a major global problem. But I also recently read this Newsweek article where a former mortgage broker shares his insights into the fraud and greed that has plagued his former industry:

Lenders… which underwrote loans offered up by brokers and resold them to giants like Countrywide, spent much of their workdays trying to spot the stupid tricks brokers routinely used to get unqualified borrowers approved for loans. They’d say a buyer intended to live in a house when it was really an investment property. They’d falsify the buyer’s income by having a relative pose as his employer, or use scanners and software to forge W-2 forms. They’d find ways to hide debts (like a car payment) by looking for a credit report that omitted key data. They also routinely gamed the appraisal system, encouraging appraisers to look for “comparables” that were far nicer homes in better neighborhoods—all in an effort to drive up the appraised value of the home they were mortgaging.

Perhaps because I know a lot of people in this industry, this article really got me thinking about wealth and the ways in which we go about trying to accumulate it.

Greed and shady business dealings are obviously nothing new, but what are we to make of them? And how does it relate to self improvement?

Ends and Means

Now, the last thing I want to do in this article is come across as self-righteous in the moral advice that follows. Let me state here that I am far from perfect, and I am not always proud of the ways I act. But this current chaos in the world’s financial markets, and other recent examples of greed (eg Enron), reminded me of Gandhi’s teachings of the seven things that will destroy us. These are:

• Wealth without work
• Pleasure without conscience
• Knowledge without character
• Commerce without morality
• Science without humanity
• Worship without sacrifice
• Politics without principle

As Stephen R. Covey points out in The 8th Habit, each of these admirable ends (eg wealth and commerce) can be accomplished through an unprincipled or unworthy means.

Many people give little attention to the means as their ego tells them the ends justify the means. This approach was infamously promoted by Machiavelli in The Prince, which suggested, amongst other things, the shrewd methods an aspiring prince could use to acquire the throne (remind you of any modern day politicians?).

If you live according to this philosophy, I would like to invite you to consider a very different way of looking at ends, and the means in which you go about accomplishing them. If we are to quell our ego, and instead live a life where we follow our conscience, then the ends and means become inseparable.

According to Stephen R. Covey, if you reach an admirable end through the wrong means, the ends ultimately turn to dust in your hands. It may appear that you can, but there are unintended consequences that are not seen or evident at first that will eventually destroy the end. The example he gives in The 8th Habit is:

• The parent who yells at their kids to clean their rooms will accomplish the end of having a clean room. But this very means has the potential to negatively affect relationships, and it is unlikely the room will stay clean when the parent leaves town for a few days.

Now, to return to the topic of wealth, I think it is possible to see much of the world’s current financial problems as stemming from people who wrongly believe the ends justify the means.

My advice? It is wonderful to aspire to wealth, but don’t lose sight of the means of accomplishing it as you go about your journey.

What do you think? We would love to hear your thoughts on anything discussed in this article. As a small incentive, we have a $20 Amazon gift certificate to give to one person who shares their thoughts.

Peter writes about how to enjoy life at The Change Blog. If you enjoyed this article, you may wish to download his free e-book, A Year of Change.

Some people are lucky enough to discover their ideal career at a very young age. For them, the path is clear: develop an interest, get a relevant degree, cultivate expertise, and climb to the top of the ladder.

These people are the vast minority. The rest of us reach adulthood without knowing what we really want to do for a living.

This isn’t necessarily a bad thing. Maybe you have diverse interests. Maybe you never really thought about it. Or maybe (especially if you’re a web junkie like me) your ideal career didn’t exist 5 years ago.

Finding the ideal career is far from obvious but if you don’t actively look for it you can get sucked into a job that doesn’t make you happy.

Do You Have a Job or a Career?

This an important question to ask yourself because it there is a vast difference between the two.

A job is just work. You might like it, you might not, but you do it for the money and it has no connection to your personal identity. If you lost your job, you might be upset but you’d get over it when you found a replacement.

A career is inseparable from who you are and who you want to be. A person with a job is collecting a paycheck. A person with a career is working towards a dream.

When I graduated college I had no idea what career was right for me so I did what most people do — I took the path of least resistance. I interviewed with employers who recruited on campus and wanted someone with my degree. I didn’t care what type of job I got. My only priority was finding one before graduation.

I don’t consider this a mistake because I learned a lot and worked with great people. But I was miserable. My passions and talents just didn’t fit. It eventually comes to a question: Are you willing to settle for a life of discontent and mediocrity just because you’re afraid to make a change?

Step 1. Follow Passion

For someone in this situation it’s easy to feel powerless. We all have expenses and responsibilities. How do you quit your job and start your career if (a) you don’t know what it is, and (b) you probably aren’t qualified anyways?

The first step is answering question (a) by following your passion. Not to say that if you like to read fiction you should become a novelist, or a painter if you admire Van Gogh. It’s important to be practical and find a career that is both personally satisfying and valuable to others.

The key is finding the place where your passions and aptitudes intersect with valuable labor. For this I recommend reading (online, books, magazines, everything) and having conversations with people you admire. It takes time but it should be fascinating. If it’s not, you’re on the wrong track.

For every passion (art, science, sports, nature, etc.) there are thousands of careers in close proximity. The point most people miss is that career opportunities lie, not in indulging the passion itself, but in bringing it to others.

Do you love art? Maybe a career in design is right for you. Love talking to new people? Maybe you’d be great in sales. There’s a place where what you love to do intersects what you’re great at — that’s your ideal career.

Step 2. Building a Resume and a Network

The next step is building a body of work and connecting with people in your industry. You need a body of work because you have to prove your ability and commitment before anyone will hire you. A network will help you find that first opportunity.

The only way to build a body of work is to get out there and start doing. Don’t let inexperience or shyness hold you back. What you need to build depends on the career you want, but generally some good ideas are:

• Writing – Any time you can share thoughts and ideas clearly you prove your understanding of a topic.
• Organizing - Arranging a list of resources and commenting on the work of others is another good way to build understanding.
• Creating – The actual creation of something that’s valuable to others is the most impressive (and difficult) way to create a body of work.

Creating a body of work goes hand in hand with building a network. Your hard work isn’t much good when it’s sitting in a closet. You have to actively share it, and in the process you’ll develop valuable relationships.

The web is an amazing place to find and be found by potential colleagues and employers. No matter what industry you want to break into there are people on the web looking to connect. There might even be a social network specifically for that profession.

You should also seek out offline networking opportunities. Go to public events that people who share your passion might attend. Join local organizations. Bring up your aspirations in conversation. This isn’t particularly hard to do, but it takes initiative and motivation.

Step 3. Make the Leap

Strangely, quitting a job you hate may be a difficult decision. Even when we aren’t happy, we get comfortable and resistant to change. Don’t let fear keep you in a job that’s just OK because the stability is nice and it pays pretty good. Test the market, look for opportunities, revamp your resume, peruse job boards. Just get out there and search.

Maybe you’ll get lucky and an opportunity will fall into your lap. That’s what happens to people who work towards a dream with passion and conviction. Don’t be afraid to take that opportunity. Even if it means less money and more risk and your friends think you’re crazy.

Take your career into your own hands. Your work shouldn’t be something you tolerate. It should be something that drives you — to become the person you should be, to give everything you can.

Image by Jessica DeWinter

Recently I read an article on the taboo of comparing salaries.

Depending on your cultural background and beliefs, you may or may not compare your salaries with your family and friends openly. However, most of us are interested to know how much we earn relative to our peers.

Why is this so? The reason is simple – we are interested to know if we are valuable.

Before you start crying foul, hear me out. Obviously, you know that your self-worth is not dependent on your income. How much you earn has nothing to do with your value as a person.

Read the rest of this article »

Growing obesity and higher levels of personal debt are 2 different modern phenomenon. There is no obvious connection between the two, but both problems share many similarities. These ideas suggest that the solution to many of our problems share certain key characteristics.

Whatever we wish to achieve, the solution is rarely gained through looking for some miracle product. The solution invariably lies through a change in our attitude and frame of mind.

The Road is Paved with Good Intentions

It is good to have a hope for achieving our targets. But, to be successful, we need more than half-hearted good intentions. To make significant changes in our life we need to be focused and fully committed. Alas, we cannot reduce weight by talking about how desirable it would be. Nor can we reduce our debt through wishful thinking; it requires determination and continued commitment.

Read the rest of this article »

The best way to attain the freedom to pursue your dreams is by reaching financial independence. Once money is no longer a problem, you’ll be free to travel the world, express yourself creatively, and do whatever it is that you love.

Financial independence can be reached many ways, but one that works for many people is building an online business. Creating this site has helped me to generate a significant amount of income that has made a major impact on my life and my plans for the future.

Online businesses are attractive because they require very little money to start and the rewards can be huge. The downside is that the internet is highly competitive.

In the age of a million free information sources, everyone is constantly battling for attention. If you write your own blog or website, I’m sure you’ve experienced the difficulty of attracting readers first hand.

The problems people face are largely the result of having the wrong mindset. Most people think like opportunity seekers, jumping from one hot idea to the next, instead of developing a longterm strategy.

I was plagued by this problem myself, and I know for a fact this site never would have reached it’s current level of popularity if I hadn’t learned the ideas contained in the Internet Business Manifesto by Rich Shefren.

The manifesto is completely free, and I highly recommend you give it a read, but even more importantly, Rich is on the verge of releasing his latest free report, The Attention Age Doctrine.

This completely free report contains specific tactics you can start using right after it’s released to blow past your competitors that don’t know what you know about the new Attention Age. If you’re serious about building a successful business you need to read this fast.

The free report hasn’t been released yet, but if you sign up now you’ll be notified as soon as it’s available. I’ve already signed up myself and plan on reading the entire Attention Age Doctrine as soon as it becomes available.

The people who are quickest to use this information with profit the most. I plan to be one of them, which is why I already reserved a copy, and I recommend you do the same.

Rich has provided great free information before and I expect even more this time. Unfortunately, Rich has decided to make this report available only to a limited number of readers, so if you miss your chance to get it now you could be waiting for a long time.