Chia-Li Chien | Dec. 8, 2010

Like most immigrants who come to the U.S., I continue to foster my own culture in my family, especially by way of Chinese food. When I first came to the U.S. at age 21, I did not have much cooking experience. Over the 22 years of living here, I kind of made up my own cuisine of mixed Chinese and American food in my day-to-day cooking. However, these days, my teenage daughter loves to “order” her favorite American food while I am preparing meals.

Initially, there were many American recipes that I tried and failed at. I had the most success with recipes from Martha Stewart’s Everyday Food. Their traditional spaghetti and meatballs is at the top of the order list from my daughter. She has a sweet tooth, too and always wants a traditional apple pie. So, once again, I followed a recipe from Everyday Food.

In Chinese cooking, we don’t use many lemons. But I love lemons, especially because they have significantly lowered my cholesterol. So instead of following the recipe and using the juice of half a lemon in the freshly sliced apples, I used the juice from a whole lemon.  Well, you can image the look on my daughter’s face. She did not want to eat that pie at all. I have to admit, it was a bit tart and citric, but I LOVED it. To make sure my husband did not make the same face my daughter had, I left him a big note that night to tell him to make sure he added sugar to his piece of pie if he found it too tart.

The next morning, he told me, “Honey, that is the best traditional apple pie I ever had! There is no tart lemon taste at all.” So I tried it and he was right. You see, T.C. and I love to eat and cook a lot. He immigrated to the U.S. when he was 12 years old, so he knows much more about American cooking than I do. T.C. told me that in fact, the extra lemon might have helped to ripen the apples overnight, actually making the pie filling much sweeter than expected. Guess what, that next day my first homemade traditional apple pie was gone in a very short time. My daughter decided she loved it and the orders are coming in again.

I’ve seen many of my clients without solutions for branding, with difficult to sell goods and services, or painful P & L’s continue to thrive. Why? They persist, waiting it out with patience while demonstrating consistency in their imarketing, sales, and operational processes. Like adding too much lemon in my traditional apple pie, it just goes to show if you are not patient enough, you’ll never get to taste the sweet results.

Of every six new businesses starts, five close in five years according to the Small Business Administration. Many of them survive the first five years, yet still struggle to make ends meet. Depending on whom you speak to, those business failures could be due to:
•    The brand having no stickiness
•    The wrong products/services
•    Not enough profits
•    And other similar reasons

Entrepreneurs are pros at getting their clever, innovative ideas off the ground. However, many fail to have a plan to sustain their big ideas and/or follow through with the plan. Instead, they jump to next hottest idea on businesses promotion without the flexibility needed to make the change. They sometimes drop the ball just when it gets rolling. Patience is not one of the entrepreneur’s typical personality traits.

As an entrepreneur, you might want to consider the following as you expand new ideas, products, and services into the new or same market space. And remember – it takes patience.

Have a 12-Month Marketing Calendar.  See sample here from our PROFITS MATTER® 1-Year Growth Action Plan (1GAP).

Read more here..

I don’t believe in any one business solution overly much. Perhaps I did put too much lemon in my homemade traditional apple pie. Just waiting overnight helped to validate a method I can now use the next time. The result was sweet. Remember, patience is a virtue when it comes to marketing your business. The first results may not come out as you expected, but in a while, you may just enjoy results that will have your customers ordering again and again.

Chia-Li Chien, CFP®, CRPC, PMP; helps women entrepreneurs to creating business value that transforms their world.  She is the Award-Winning author of Show Me The Money and columnist for WomenEntrepreneur.com & Fox Business online.   She is available for consulting, speaking engagements and workshops.  She can be reached at http://www.chialichien.com or jolly@chialichien.com.

I recently had the opportunity to be a mentor, deal screener and speaker for the 4th annual Angle Capital Summit.  Although there were specific things to look for as a deal screener on behalf of the investors, I couldn’t help but to reflect on an article I recently wrote about G.U.P, as well as some of the material in my book Show Me The Money.

Many of the applicants at the Summit looking for funding had very little training in how to prepare a presentation for investors. Most had some type of business plan to start with, but some did not even have an executive summary. If you’re serious about your business, you must be prepared.

So what does an investor look for? Although I acted as a deal screener, I don’t necessarily have any interest in investing in a company I work with, but I do certainly have an interest in seeing that company succeed. As I’ve worked with clients over the years, there are many things we purposely put in place. Owners have to create a win-win situation for themselves and investors. You, as the owner, as well as the investors, are taking a risk on your ideas.
Here are twelve common mistakes to avoid as you prepare your investor presentation:

1.    Having no clear business model. Only one out of ten deals I reviewed had a solid business model. There are three components of a business model:  1) Owner’s passion and business purpose; ideally equaling what the customer is willing to pay you. 2) Core competency of key processes and key resources. 3) Economic engine or profit formula, which includes a plan for diversifying revenue sources.

2.    Not the right time to introduce your idea to the market. Some ideas I saw at the Summit were frankly out of date. If you want to introduce an old idea, make sure to innovate or create a mash-up compelling enough to repackage the idea for presentation.

3.    Not the right place to introduce your idea to the market. Did you do enough market research to present your case? How credible is your source of market research?

4.    Not having the right team of people to implement your idea. Most companies I reviewed are weak on implementation, meaning they were short on resources to implement their ideas. Resources include vendors, and most likely a team of other professionals. Identify them properly.

5.    Not planning to work in and run the business. I’ve seen, over the years, that some people just want the title without the work of the start-up. Well, that’s a good strategy for an exit plan, but at least at the beginning, you must be an integral part of your business, which will help you in the future to know how to react quickly to market changes.

6.    Entering without 10,000 hours of industry experience. Most of the deals I explored at the Summit were from people who did not have actual industry experience. According to research reported in Malcolm Gladwell’s “Outliers,” you need about 10,000 hours of experience in the industry of your business idea. If you personally don’t have it, have someone on your team who does.

Read mistakes 7 to 12 here.

Not everything has to be perfect in order to find funding, but nevertheless, put your best effort forward to show you are serious about making your business idea work. No one will know you are serious about succeeding until you have a complete plan. The amount of work, research, and thought you put into an entire business plan will speak louder than just a one page executive summary.

Chia-Li Chien, CFP®, CRPC, PMP; helps women entrepreneurs to convert their business into meaningful personal wealth.  She is the author of Show Me The Money and columnist for WomenEntrepreneur.com & Fox Business online.   She is available for consulting, speaking engagements and workshops.  She can be reached at http://www.chialichien.com or jolly@chialichien.com.

Watch small businesses grow as corporate spending increases.

I recently attended Financial Planning Associates (FPA) 2010 Annual Symposium & Sponsor Expo in Charlotte, NC. I attend the FPA Symposium each year simply to keep up with my continuing education credits. Dr. Robert (Bob) Froehlich was one of the presenters in the Symposium. I am writing this to specifically document what Dr. Bob had to say in his presentation because 1) what he suggested holds true for the future, and 2) it makes sense for small businesses.

When general consumers think about the stock market, they use it as an indicator of how well the economy is doing. Yet many investors use the stock market as an indication of whether to buy or sell from their portfolio. According to Dr. Bob, what matters in investing are the EARNINGS of publicly-traded stocks. Earnings are the only indicators to drive the overall stock market volume. If earnings go up, expect to see the market volume go up.

“There is no correlation of the housing market with the stock market,” said Dr. Bob. “In 1999, the housing market reached a 25-year high, unemployment was at 4% – the best in 40 years in the U.S. – but the market crashed at 2000,” Dr. Bob continued. He concluded that housing and employment really do not drive how the stock market fluctuates.

I guess this is logical – if publicly-traded companies show earnings, that indicates they are profitable and performing as their shareholders expect. This potentially will lead to issuing dividends and greater return on investment for the investors. When publicly-traded companies issues dividends, traditionally it drives up the buying volume as well.

Dr. Bob believes that the combination of the earnings and cash inside these public trading companies will fuel the overall economy:

1.       Increase of on-going inventories rebuilding for the next 18 months. In January 2010 the recession recovered 10 months earlier than expected. Most corporations had cut back in inventory orders during the recession, but today the demand is high and they’re very busy refilling their inventories.

2.       Increase of capital spending. As of June 20, 2010, there were approximately $600B undistributed corporate profits or cash, the highest since 1950. Examples of this include: the buy back of company stock, increase in dividends, mergers and acquisitions (M&A) in cash, investing in themselves to increase productivity and market share, and the hiring of employees.

3.       Growth of global economy. Traditionally, the global economy has trended to about 3% growth in the past 25 years. Today, the growth rate is about 5%, primarily due to huge growth in China (11.9%), India (double digit growth) and Singapore (19%). (No, the failure of the economy in Greece does not make whole lot of difference in the global economy.)

Dr. Bob suggests overweighting dividend-paying stocks in equity holding of a portfolio within the following three segments:

• Energy
• Financial
• Health Care

One reason for this recommendation is due to the amount of fixed income and the growth of boomers’ portfolios. Boomers not only need income, but also the growth of their portfolio to ensure that they don’t “outlive their money” (potentially for 30+ years).

What does all these mean for the small business? Consider the following:

• Gain Market Share FAST. If your marketing or sales teams are not already doing so, get on the program fast, because if you can’t fill the order for a hungry corporation, someone else will.
• Make sure your operating systems are solid. Ensure your processes and resources are in line to handle this upcoming boom.
• Get the right people on your team. You need a team of the right people to ride the economic tide. After all, they are the largest asset you have that can help grow your business.

You can have full access to the Federal Reserve monthly Economy snapshot – for example, I am part of the Federal Reserve Bank of Richmond. What they do best is provide historical information. However, their snapshot will also will provide insight into how to forecast the economic future.

I don’t know if Dr. Bob is right or not, but his points certainly sound very logical, given all the facts from the economy snapshot. The bottom line is to pay close attention to what your clients are doing. Don’t miss your opportunity.

Chia-Li Chien, CFP®, CRPC, PMP; helps women entrepreneurs to convert their business into meaningful personal wealth.  She is the author of Show Me The Money and columnist for WomenEntrepreneur.com & Fox Business online.   She is available for consulting, speaking engagements and workshops.  She can be reached at http://www.chialichien.com or jolly@chialichien.com.

We are less than two weeks away from Thanksgiving. There is a lot to look forward to: big, yummy holiday dinners, parties, shopping for gifts, decorating, seasonal music and the list goes on. But for many people, the holidays bring just as much stress as they do satisfaction. So, it might be a good time, before we get caught up in the midst of things, to take a moment and prepare for the not-so-nice aspects of the holidays.

Financial
We are technically out of the recession, but for a sizable number of people that fact hasn’t caught up to our realities. In the midst of tight belts and tighter budgets, it is inevitable that some changes to traditional holiday spending might be in order.

Scale Back: Does everyone on your list need a gift? This especially applies to all of those acquaintance gifts. Little things can add up to a lot. When it comes to adult family members, consider skipping gift exchanges all together or possibly doing a Secret Santa with a spending limit.

Lower Expectations: When it comes to teens and older children, you might want to explain that Christmas might be a little different this year. It might not be possible to get everything on a long list but ask them what they would like the most or in a specific monetary range.

Family
For many this is either the best part of Christmas or the worst. The key here is to have a clear plan for those relatives that might try your patience or push your buttons.

Make It a Team Effort: Pair up with a sibling, cousin or friend that will be attending the same family function and lean on each other for support. Things immediately seem better when you realize that you aren’t in it alone.

Set Boundaries: Who says you have to stay at the dinner all-day and well into the night? If you aren’t hosting dinner, plan on leaving a little early. Let people know what is off-limits before hand, if possible. If you are dealing with unemployment or a recent divorce, let several supportive family members know that you would rather not talk about it. In fact, engage members of your team to help you out if those touchy subjects come up.

The key is to have a plan – whether it is a spending plan, a plan for handling family or for not eating too much at the company party – if you think it through in advance you will be able to avoid a lot of sticky or stressful situations, or at least get through them with less drama and damage.

Karyn L. Beach is a success coach and corporate trainer who publishes the Lose the Excuses newsletter and blog.

Determining when You’re in Financial Trouble with Your Credit Card Debt

Quite a few books and Web sites provide formulas for calculating whether your current level of consumer debt is too much for your income, but there’s a better indication of too much debt.

Debt is much more than numbers on a monthly statement – debt is a state of mind. If you can write a check to the credit card company without giving it a thought for the rest of the month, then you probably don’t have too much debt. However, when you reach a point where you dread opening the mail, don’t answer the phone because it might be a creditor, or constantly obsess over your balance (even if it’s small), then you have too much debt regardless of what a formula says.

And if you carry a credit card balance from month to month, no matter how small it is, you need to begin a debt reduction plan. Scan your credit card statements and look at the amount of finance charges you’re paying every month. You’re giving that money away!

A Simple Formula for Credit Card Debt

Because credit card payments must fit into your monthly budget, the best way to figure mathematically if you have too much debt is to compare your monthly income against your monthly minimum payments. A general rule of thumb states that if more than three percent of monthly income is used to service credit cards, it’s time to get serious about a debt reduction plan.

Here are a couple of examples:

Monthly income: $5000
5000 x .03 = 150
3% of income: $150

Monthly income: $1500
1500 x .03 = 45
3% of income: $45

Calculate your monthly income and how much three percent of that figure is. This amount is ideally the highest your monthly minimum payments should be. Add up the minimum payment amounts from all of your credit cards and compare the total to that number.

Credit Card Debt Guidelines

If your minimum payments are 3% or less of your income, you are in an ideal financial position to eliminate your credit card balance. Unfortunately, most debtors don’t fall into this range.

If your minimum payments are between 4 – 10% of your income, this mid-range can make or break your finances. Begin a debt reduction plan as soon as possible. It’s not too late!

When you see that your minimum payments are between 10 – 20% of your income, your financial situation is on the edge of critical mass. Start analyzing your finances today or seek professional help if the task seems too overwhelming.

By the time you’ve reached a point where your credit card minimum payments are 20% or greater in relation to your income, you’ve reached a point where recovering on your own can be nearly impossible. Unless you live off the land in the wilderness (no water, electricity, or grocery bills), it’s probably too late to start a standard balance reduction plan yourself. Find a financial planner or credit counselor immediately. He or she can help you reduce your debt and make smarter financial choices in the future.

Rev. Beck has been a professional writer, editor, and editor since 1994. She has a portfolio of work on Suite101, and writes mostly for private clients.

As you probably know, this article is not about stocks, bonds or money. It is about building a better future and a better community. It is about developing social capital. It is about preparing to give-investing in yourself, giving what you have-to significant others, and recognizing that your deposits may go to causes and people outside of your life circle.

Investing in yourself is probably the simplest of these three challenges (of course, we should never confuse simple with easy). It means that you should use time and use resources to refill, refuel, and refine those assets that you have already acquired or wish to acquire. It may mean adding on to or completing what you started long ago. Investing in yourself means that you understand that nothing stays the same.

Career plateauing (flat lining) is a term that I found and challenged people with several decades ago as I led career development sessions. It defines what happens when you stop pursuing a goal or challenge on the job. It leads to burnout and decline. The scary discovery was that this condition moved across other areas of your life as well-outside the job-physical, personal, spiritual and social areas were negatively impacted. The journey doesn’t end when the job stops. Growth is a natural part of living and there is no stage where you stop growing and learning and sharpening…going slower is acceptable. Two quotes that spurred me on earlier: Mark Twain’s: “The person who does not read good books is no better than the person who cannot read.” and from the children’s corner: “When you’re green, you’re growing; when you’re ripe, you’re rottening.” The books and literature you continue to read, the people you meet and experience, and the new activities in which you engage are all investments.

As you invest in yourself, you bring something to relationships and situations to share…Investing in others means giving and sharing. It didn’t appear controversial to me; but, I occasionally encounter someone who argues ‘what for’. So let me begin by sharing the statement that keeps me focused in the event that I forget my spiritual mandate: “If you don’t reach down and lift them up, the sheer weight of them will pull you down.” It is not an original statement, but one that challenges me on many levels. If you have disengaged from the work force, you may look at the activities that you wanted to get involved in but didn’t have the time. You may look at a neighborhood issue that needs the knowledge and leadership that you have acquired over the years. There may be an issue that needs to be addressed and you are now available to give time to it.

On the subject of diversifying, I will just reiterate that the world has changed. There are many reasons not to invest all your ‘eggs in one basket’. The greatest is that the basket may cease to be. You should not limit your relationships and giving to people in your age-group, neighborhood, congregation, social club… you get the picture. You never know who holds your card, will hold your hand or answer your call. f it they are in your space, it is probably for a reason; give unconditionally.

In closing this conversation, I want to be completely real about this call to giving and investing: You may not receive pay, acknowledgement or appreciation for your work and contributions. You may give and no one will notice right away; but, remember that it is ultimately not about you. Hopefully your stream is being constantly filled and your need for appreciation met from inside. You are your greatest asset!

Brenda McCoy Hunter is a public speaker, trainer and the author of Answering the Call: Six Steps to Leadership and Service. Her flagship seminar, “Creative Horizons” focuses on succession leadership and offers an opportunity for pre-retirees to plan for success after their present job ends. She can be reached at 615-319-1223 www.BHunterassociates.com

Since women are now holding jobs in the marketplace as CEOs’ and presidents, it is necessary to equip women with the tools of dealing with their money with confidence and pride. Men have been always done that. Of course there is no gender in the money itself, but who is holding it makes a big difference. Men and women are different in their lives, their money and just about everything else in life.

Women are multi-taskers at their core, who are still getting underpaid for the work both in the corporate setting and at home. One big reason for this is because a woman finds it hard to say NO when someone either asks her to do something, or asks her for money. A boss will take advantage of this fact and have her working 60 hours a week on a 40 hour a week salary. And she won’t ask for a raise for added work she is doing. Both of these compromises come from the fact that men have not offered her full authority and women have not asked for it. This is even true in the home where the wife/mother works 24/7 yet is getting a small allowance from the husband. She is an equal partner, the house finances and what they are designated for, and the amount for spending, should all be shared knowledge between the two partners.

Women owe it to themselves and their families to take control of their money and to quit undervaluing their worth. It is time for women to understand who they are and their value, and to know that they are equal workers in life. There are some certain characteristics that are prevalent in people who have money. If you are a woman reading this and are serious about getting control over your funds and in your money in general, then take a few minutes to evaluate your lifestyle and see where you stand.

They most important key in establishing yourself is living in a sense of balance and harmony. Harmony is a musical word and it means that all the parts are working together to form the melody. This is the way your life should be – balanced in all areas so that your everyday life is harmonious and without stress or strain. To achieve this you will need to look into all the roles you play – wife, mother, employee, friend, family member, etc. Check and see that the areas are in balance and with each other. Most will find that one or two areas are demanding more of your attention and energy. This kind of overload needs to be adjusted and put back on the level with the rest.

If you are deficient in one area, see what is available for you to correct that – a class, more time alone, maybe something as simple as having a cleaning lady come in once a week to reduce that stress. Adjust your life because when your life is in balance you will make the good decisions that you need to in order to keep your world working well. You’ll find it’s not difficult to stay in that good place, making good decisions, if you are satisfied and settled in all areas of your life.

Another important key is to walk with courage, or at least fake it till you make it. There is no reason to live in fear. You have the world at your finger tips nowadays, and if you investigate anything that you don’t know about, that will keep your fear level down. The old adage is, “What’s the worst that could happen if I ask? They’ll say No.” So get rid of that fear of not asking for what you really want and need for your life. Many of you women are single and raising a family, so your confidence level is what will carry you AND your children, so don’t hold back!

The last characteristic to check is your generosity level. This is so important because it keeps the flow of giving and receiving going in YOUR life. It doesn’t matter if you’re a stay-at-home Mom or a corporate executive, give what you have. If you make the paycheck, give out of that. If you know that your next door neighbor really likes chocolate chip cookies and you know how to make them – Do it! If you can drive the kids to soccer practice while you let the other moms have an hour to themselves – Do it! Whatever well you can give out of to keep the flow going – Do it! A great idea is to have a Garage Sale. You can either give the proceeds or some of the items to someone who needs them, and you’ll get a clean house. The kids can get involved in the action and you can have refreshments out for your neighbors and make it a fun time for everyone! Lots of people get in the flow of this one.

Incorporating generosity into your daily routine is fun and it keeps you thinking creatively, not to mention lets you feel good inside while you are doing something for someone else.

These are the most important keys in finding your confidence and gaining your equilibrium to allow harmony into your life. Once harmony is back, it will only be a matter of consulting or fact-finding when you need to make the right decisions for yourself. Remember that if you are making the right decisions for yourself, they will be the right decisions for all those around you.

The most important thing to remember is, IT IS OK TO SAY NO! Just because you have the money doesn’t mean that you have to give it away, or cosign, even if they are family. Yes that’s right, even if they are family! ‘No’ is a sentence all by itself and sometimes it is exactly what that person needs to hear. Don’t be afraid, taking care of yourself is the best idea you’ve ever had.

It’s the most wonderful time of the year and also the most stressful. The holidays may be full of cheer, but they can take a toll on your stress level and your health. From the pressures of shopping to visiting relatives there doesn’t seem to be a free moment. Wouldn’t it be nice to have a stress free holiday season for once? Here are some tips to reduce stress during the holidays this year.

Have a stress free holiday: Avoid shopping stress
It’s important not to forget the reason for the season. Instead of concentrating on the retail aspects of the season, remember why holidays are celebrated in the first place. Make it easier on yourself. Instead of buying expensive presents for everyone you know, donate money to a deserving charity instead. No one will mind if you tell them you’re donating to a good cause this year instead of giving gifts. If you feel compelled to offer presents to certain people, give a gift certificate instead. This will lighten your holiday shopping load and eliminate the time you previously spent choosing, buying, and wrapping gifts. Of course, if you have small children, you’ll want to shop for them but, otherwise, scale back to reduce shopping stress during the holidays.

Have a stress free holiday: Spend less time in the kitchen
This is another way people stress themselves out during the holidays. They feel the need to prepare elaborate holiday meals for friends and family. This is not only stressful but expensive. Why not do it differently this year and eat out on Christmas Eve or Christmas day? Many hotels offer Christmas buffets where you can have a variety of food choices without having to deal with preparation and clean up. Although some of these buffets can be expensive, consider how much you’d be spending to cook at home and it won’t sound like such a bad deal. Imagine how relaxing it will be to enjoy a buffet and sip a cup of hot coffee while listening to Christmas music.

Have a stress free holiday: Don’t over commit yourself
The holidays are a time for Christmas parties and celebrations, but too many parties can cause unnecessary stress. A lot of preparation can go into attending a party even if you’re not the one giving it. This is particularly true for women who have to select an appropriate outfit, accessorize it, and go through the motions of doing make-up and hair. To reduce stress, choose one of two parties to attend during the holidays and gracefully bow out of the rest. No one will think less of you for it.

Have a stress free holiday: Take time out for yourself
To reduce stress during the holiday season, make time for pampering yourself in small ways. Enjoy a warm, fragrant bubble bath or a long walk in the outdoors. Breathe deeply and enjoy the sweet smells of nature. It’s important to have an outlet to help you unwind during the holiday season.

Holiday celebrations don’t have to be hectic and chaotic unless you allow them to be. Learn to reduce stress and enjoy the holidays for what they were meant to be, a time to express love and appreciation for friends and family.

Adriene is a powerful woman on a mission to educate and inspire young African American Women to be financially savvy. I can see why she would be the ambassador for giving women tools for being a financially savvy sista.

Adriene shared her vision for women and  candidly talked about the challenges of today’s woman during the recent economic changes. The spiral of one’s actions or lack thereof can put anyone of us in a financial rollercoaster if we’re not sure of how to devise and implement a plan.  Adriene dispels the myths about money management and offers her pillars of success. Some very simple actions can lead to a world of financial freedom with the discipline and commitment to a vision. Adriene reveals those simple actions with me during our power filled chat.

You’ll find Adriene to be a gentle-spoken woman on purpose. She reveals her best advice for women searching for vision, steps to bring power to your life financially and two of her favorite quotes. I’d say, grab a pen and note pad, a hot cup of your favorite drink and take good notes as she and I delve into the world of the financially savvy sista. Adriene is definitely a P3 Pearl that the world is awaiting. Enjoy!

I was engaged in a trial coaching call with a great woman recently and we were talking candidly about her vision. She had struggled with finances for quite some time and lost some of her passion and zeal for life, so she thought a session with me would impact that area.

After years of being in this type of work, it doesn’t take very long to discover one’s vision. If each of us is willing to “open our mind” to our heart’s desire, a vision will clearly emerge. To this woman’s surprise, the vision did quickly emerge. In fact, it had always been there. She had clarified that vision 20 years before but was not living out of it or making it happen. In fact, it’s on one of her many business cards and even her license plate!

Some of us struggle with clarity of our vision while others are very clear but wonder how to have it manifest itself into the world. One major barrier is finances, thus purpose or vision may never be pursued at ones fullest potential. This woman’s struggle was that very thing! I thought it befitting to share a book with her called “The Secrets of The Millionaire Mind” by T. Harv Eker. We spoke in depth about how she can manage her finances to assist in expanding her vision, rather than finances being the barrier.

Eker’s book is written with the intention to shift the mindset about money. It’s worth reading a number of times. Sometimes we simply need a few pieces of information to have life all come together. In this woman’s case, it was embracing and owning her vision and having some information about how to manage money effectively so that her vision could grow and expand.

T. Harv Eker speaks about and makes suggestions regarding percentages of income/revenue and how to put you in the driver’s seat of your life when it comes to finances. For example, only 50% of your income should be spent on necessities while 10% goes to investments, 10% short term savings, 10% education, 10% to give away and 10% for fun. I highly recommend the book. Read it again and again until the information becomes your mantra.

Another option is to create a budget you can stick to.  Here’s a product I highly recommend for creating personal budgets for the debt free thinker:

Effective Personal Cash Flow Systems

The woman I spoke of earlier is excited. In fact, she called the next day and left a message singing “I got passsssionnn, I got passion.” What a wonderful message to receive. It certainly lifted me to higher heights for the day!

I believe the power lives within you and you deserve to be in the driver’s seat of every aspect of your life…So dare to learn more. Knowledge is POWER.

Lisa Thomas is a Visionary For Women,   Vision and Leadership Coach and inspirational speaker. see www.TheP3Group.com.