Five Ways to Stay Motivated

Written by Kate Smalley


Remember how you feltrepparttar first day you opened your small business? It’s a time of excitement and joy for most of us. We’re ready to go and conquerrepparttar 103829 world!

However, oncerepparttar 103830 honeymoon is over and reality sets in, we find that there are challenges as well as successes inrepparttar 103831 world of business. Some days we get overwhelmed withrepparttar 103832 challenges. After a string of those days, we begin to lose our motivation.

It’s challenging even when you are an employee to stay motivated in a job. However, employees usually have peers they can talk with to vent about their day or to keep their skills sharp. That’s not true of employers. More often than not, we walk that road alone. And unlike an employee, our motivation level is more likely to be tied torepparttar 103833 performance of our company! If our motivation is low, it could hurtrepparttar 103834 entire business.

Focusing on keeping yourself motivated may not be what you think. Most of us think of motivation as cheerleading or rallyingrepparttar 103835 troops. That may be true for employees at times, but for business owners self-motivation can be very different.

Here are five ways to keep being motivated for business owners:

1. Take a vacation. When WASrepparttar 103836 last time you took time off? Really took time off – without a cell phone, a laptop or a digital pager? If it’s been more than a year, you need to do it! Taking time to relax and recharge isrepparttar 103837 best thing you can do to keep yourself motivated. Vacations help stave off burn out, and refresh you mentally and physically.

2. Join an association. A trade organization is a fabulous way to get contacts with your peers. You’ll have access to a large pool of people who sharerepparttar 103838 same success and challenges every day. Don’t worry about being exposed torepparttar 103839 competition – you can find people who have similar businesses that are in a different part ofrepparttar 103840 country or who focus on a different area. Most associations have conferences and conventions that are great places to learn about trends and develop your own new ideas.

THE “SEVEN Cs”: PARTNERSHIP DANGER SIGNS - The 4th C: CUMULATIVE MONEY PROBLEMS

Written by Dorene Lehavi


A series of articles exploringrepparttar seven critical areas that can indicate a partnership is in trouble. The 4th C: CUMULATIVE MONEY PROBLEMS Conflicts over money are very high onrepparttar 103828 list of reasons that 70% of business partnerships fail. I'm not referring necessarily to lack of money. The damage to business partnerships stem fromrepparttar 103829 fact that each of us have different attitudes about money and therefore handle it in different ways. The most hopeful scenario is that differences have been discussed openly atrepparttar 103830 outset ofrepparttar 103831 partnership and are continually a topic reviewed with level heads. Most often that is notrepparttar 103832 case. Here is a sample list ofrepparttar 103833 types of problems businesses run into around money where partners can have very opposing views: •financial risk taking •collections •investment of profits •family involvement on acquisitions •under-capitalization/ involving outside investors •perceived inequality in remuneration of each partner based on each one's view of each other's work and responsibility •hiring and salaries of employees •investments in outside experts to train, coach, market, etc. The money issues in business that accumulate overrepparttar 103834 course of time are based on many factors, some personal, some internal torepparttar 103835 business and some on outside forces beyond anyone's control. Bill and Vincent were investing in a new business. Vincent was unemployed with limited funds, so atrepparttar 103836 outset Bill didrepparttar 103837 financing. There was growing tension between them because of this. Bill felt he had more right to make decisions. He also had a subtle way of belittling Vincent because of it. How could such interaction be a good basis for a new business? They were wise enough to seek coaching, during which I helped Vincent spell outrepparttar 103838 behavior that was not obvious to Bill. Vincent on his own was too uncomfortable to communicate clearly how he was feeling. When it was out inrepparttar 103839 open in our coaching sessions they were able to make some changes so Vincent was able to contribute more in ways that made him feel respected. They also set some goals and deadlines for adjustments inrepparttar 103840 financial contributions.

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