Budget About 30% of Your Income for Lifestyle Spending This includes movies, restaurants, and happy hours—basically, anything that doesn’t cover basic necessities. By abiding by the 30% rule, you can save and splurge at the same time.
Allocate at Least 20% of Your Income Toward Financial Priorities By priorities, we mean building up emergency savings, paying off debt, and padding your retirement nest egg. Seem like a big percentage? Here’s why we love this number.
Take a Daily Money Minute This one comes straight from LearnVest Founder and CEO Alexa von Tobel, who swears by setting aside one minute each day to check on her financial transactions. This 60-second act helps identify problems immediately, keep track of goal progress—and set your spending tone for the rest of the day!
Consider an All-Cash Diet If you’re consistently overspending, this will break you out of that rut. Don’t believe us? The cash diet changed the lives of these three people. And when this woman went all cash, she realized that it wasn’t as scary as she thought. Really.
Set a Budget, Period This is the starting point for every other goal in your life. Here’s a checklist for building a knockout personal budget.
Track Your Net Worth Your net worth—the difference between your assets and debt—is the big-picture number that can tell you where you stand financially. Keep an eye on it, and it can help keep you apprised of the progress you’re making toward your financial goals—or warn you if you’re backsliding.
Check Your Interest Rate Q: Which loan should you pay off first? A: The one with the highest interest rate. Q: Which savings account should you open? A: The one with the best interest rate. Q: Why does credit card debt give us such a headache? A: Blame it on the compound interest rate. Bottom […]
Create a Financial Calendar If you don’t trust yourself to remember to pay your quarterly taxes or periodically pull a credit report, think about setting appointment reminders for these important money to-dos in the same way that you would an annual doctor’s visit or car tune-up. A good place to start? Our ultimate financial calendar.
Remember it’s a long game not a short dash. As I mentioned before, new business development is a daily task and it doesn’t happen overnight. You have to focus on it. Not to the detriment of your day job, unless it is your day job of course, but it is about looking ahead and ensuring […]
Find out who gets to your customers before you. One might call these influencers in an online sense and they might develop into possible strategic alliances. The point is that these are the people to use for knowledge and to engage with in order to reach out to your customers. It’s about mutual interest and […]
Keep up to date. The pace of change, especially online, is huge. Whilst you most certainly cannot chase every new thing that comes out, you need to ensure you keep up to speed with developments and ideally keep ahead of the competition. Maybe that means recording a Google Hangout or a simple video or even […]
Build your network. That means both offline and online. People cannot buy your services or recommend you if you aren’t there. That means scheduling time for attending networking events and also for participating in relevant conversations on forums online using LinkedIn and so on. Social influence is increasingly important so start to build your network.
Share that knowledge. Content is great but you can’t rely on people simply finding your website. Buyers increasingly consult their networks and find relevant content through social media. That means you need to share your information through Twitter, Facebook, YouTube and other social platforms. Google + and YouTube are particularly important in a b2b context […]
Think content not advertising. Content is what attracts customers to your website, keeps them engaged in your newsletters and it’s what encourages them to follow you, share your information, recommend you and favourite stuff that you produce. So, concentrate less on broadcast sales ‘push’ messages and more on engaging knowledge transfer.
Do something related to new business every day. Make sure that your colleagues also focus on the new business effort. It can be as simple as a call to a prospect or writing a blog or sending an email. But make it a discipline that new business is a daily task.
Be a consultant not a salesman. No buyer likes to be sold to. Old fashioned selling techniques have long gone. Nowadays, especially at a higher value of sale, you must be prepared to give good advice even if it means no sale at that time. Goodwill and recommendation has more long term value than short […]
Get on the social media train before it’s too late. Social media is a fundamental change to how we communicate both socially and in business. Younger managers have arrived in the workplace and they expect to engage on different platforms not just by email and on your website. You need to play in this arena […]
Work on your website. Many sites were designed several years ago. Technology and tastes have changed and the advent of social media has changed the way we consume information online. Is your website now fit for purpose or does it look like a tired brochure based site that simply provides basic info on your services?
Participate in conversations around your specialist area. There are lots of these on LinkedIn Twitter and in forums. Be visible and become known as someone that contributes. Manage your time wisely and select discussions that showcase your skills to people that might want or recommend your services.
Become known as an expert and a go to person in your field. This relates to information around your area of expertise. There are over 100 articles, tips, podcasts and blogs on this site. We get large traffic numbers from people wanting knowledge. This in turn pushes up Google rankings and from that we gain […]