How to Quit Your Job

How to Quit Your Job

by: E.SAUNDERS

Do you to know without ending up on the street? In a nutshell, you need to avoid
the self-employment trap, think like a business, and create multiple passive
revenue streams.

Avoid the Self-Employment Trap

If you quit your job and hang up your own shingle, you might work harder for
less money. You may enjoy working from home or choosing your own clients, but
you might end up living from client to client without building any real wealth.
Many self-employed people I know suffer from feast or famine. They spend lots of
time and money marketing their services and get lots of clients. They get really
busy doing the work and stop marketing and then their prospective client pool
dries up.

If you set up your business so that you do everything - marketing, sales,
bookkeeping, operations, and fulfillment, then you are limiting your success
potential from day one. You will spend lots of time on non-income generating
activities and may get frustrated and burned-out in a short time.

The real key to successfully creating wealth outside of a job is to avoid the
mistake of trading one boss for another boss. You need to stop trading your time
for dollars. Stop thinking like a wage slave. Look beyond earned income.

Think Like a Business

There are many problems with earned income. The biggest one is that you are
trading your time for money. If you stop trading your time, the dollars stop
coming. This is a huge problem if you decide to have a baby, get sick, want to
take an extended vacation, or are ready to retire.

The IRS penalizes self-employed people who operate as a sole proprietorship with
a hefty self-employment tax. How can you avoid this? Well, I am not an
accountant or CPA, so I am not giving legal or accounting advice, but I have
learned to think like a business. Before you quit your job, interview local tax
advisors to educate yourself on different business entities and tax strategies.
Start thinking big.

Build a Company with Multiple Passive Income Streams

You need to build a company that works for you. My best advice on how to quit
your job is to build a business that offers multiple streams of passive income
in addition to your earned income. There are so many exciting ways to design
your income portfolio. It requires imagination, courage and planning.

Structure your business so that your daily activities are fun and challenging.
Identify the things that you don’t enjoy or are not good at and find other
people to do these activities – outside partners, independent contractors, or
employees.

How to Quit Your Job

My advice for how to quit your job is to avoid thinking that you have to do
everything yourself to make your new enterprise run. Think big! Set up systems
and structures that work for you so you don’t have to work so hard. Incorporate
and make the tax system work for you. Design your work around multiple passive
income streams to support your active work. And finally, have fun!

Five Leadership Secrets For Challenging Times

Five Leadership Secrets for Challenging Times

by: ED SAUNDERS

We consistently face new and ever growing challenges in the workplace such as
reorganizing, downsizing, and “left out sizing.” We are faced with the question,
“How do we lead in this storm of change?” It may seem difficult at times and the
decisions we make define our short-term and long-term outcomes. I will share
with you five leadership techniques guaranteed to keep you on track during these
difficult times.

1 Integrity.

I put this first because the lack of integrity will make or break you as a
professional, as a leader, as a person in the long run. The lack of this will
turn yesterday’s heroes in today’s villains. For example, “MCI was the apple of
the business community’s eye. High revenues, high profits, and high growth; MCI
was beating the competition hands down.


Then it was discovered that there were gross accounting irregularities that
accounted for the astounding profits. You see, management made a decision, “Do I
continue to sustain good growth and be able to look at myself in the mirror or
do I cook the accounting books and spend the rest of my time covering up this
integrity deficiency? The real shame of the MCI situation was that AT&T, Sprint,
and others in the industry had to cut costs and lay off thousands of employees
to compete with MCI’s false numbers. The lack of integrity at MCI not only
affected the company but also the livelihood of thousands and the industry as a
whole.


I was recently speaking with a recently retired City Council member who is well
respected in the community. I asked her what the secret was to her success while
on the council? She mentioned that one of her political adversaries said to her,
“While you were on the council, I didn’t like the way you voted, but I respected
the way you voted because you were consistent with your votes and had the city’s
best interest in mind.”


Ask yourself what decisions that you make are right for the long term? Be
consistent in your actions, whether it is with management, your team, or your
family.

2. Knowledge.

With change happening faster and faster every moment, it is extremely important
that you gain the knowledge to master these changes. You owe it not only to
yourself, but to your team and management. As I always say, “It’s not having the
right answer, it’s that you have the right answer faster than before.” Many
times during my teambuilding programs a student will say, “I didn’t know where
to find the answer.” Then I will say, “That is an unacceptable answer.” Because
part of being a leader is acquiring the skills to find the right answers. With
the Internet, classroom and online training, mentors, etc., the knowledge is at
your fingertips.

Challenge your team members to use the same resources to acquire the knowledge
to master their challenges. By acquiring this knowledge, you will be able to
navigate your team through the ocean of change and achieve your goals.

3. Decisiveness.

You have seen them. They wait for information, then more information before
making a decision. Then they need more information to support the information
they already have.Then they need a committee to analyze the information. Then
they wait for the perfect time to make the decision.


Well, you know what I mean. Anyone you know? Make the decision! Good things
happen when you take action; you grow, you adapt, and your team grows. There is
no perfect time to make a decision. Leaders make decisions based on past
experience, putting into action the decision, and staying and adapting the
decision if needed. But make the decision. The worst quality you can show your
team is indecision. What do you think your team sees when you can’t make a
decision? Make the decision and go for it.

4. Vision.

This is the ability not only to see what is the present - anyone can do that -
it’s the ability to see the future. Outstanding leaders can not only see their
team for what they can do now, but what they can become, and paint the picture
for them. These leaders are consistently communicating and coaching their team
members to that vision. One of the best ways, and least used methods, to convey
your vision is the team meeting.

Every meeting should start out with the team vision, mission, and goals; and the
rest of the meeting should tie into the vision. For example, the motivation
portion of the meeting should tie into the vision, the information portion of
the meeting should tie into the vision, the training portion of the meeting
should tie into the vision, etc. Also, invest time to develop your team members’
personal visions and show them how they can accomplish their personal goals by
tying into the overall vision. By consistently communicating the vision, your
team will move with purpose, feel they are personally making a difference, and
achieve their goals sooner.

5. Unselfishness

Stephen Covey, in his successful book Seven Habits of Highly Effective People,
wrote that a true leader must be a servant to the ones he or she leads. The
leader must be able to “give of oneself for the good of the team.” In other
words, be unselfish in words and action. Be unselfish in praise of others, in
public, especially in front of management.

Be unselfish in the ability to take time to listen, really listen to your team’s
concerns. A recent management survey said that the average time management
invests doing “pure listening” to employees during the year is a mere two hours-
just two hours! What was meant by “pure listening” time was listening with eye
contact, acknowledgement, and not answering the phone while listening, not
speaking with another person while listening, etc. Be unselfish in the ability
to help your team. Whether it’s the ability to readily assist with a difficult
telephone call, jump in and remove road blocks for team members, or “be there”
for a team member during challenging moments. Believe me, your team will
remember those moments and excel for you.

Now I challenge you to put into action just one of the leadership techniques
I mentioned above to achieve your vision, your mission, and your goals in the
future.

Do You Think That Your Workoad Is Hampering Your Killer Marketing Activities?

Do you think that your workload is hampering
your killer marketing activities?

by: E.SAUNDERS

You need an extra effort not the extra workload. Today when competition is high
and consumers have many options to choose, an extra effort towards improvement
of your product, managing your customers and taking care of other aspects of
your business will give you advantage over your competition. You need to
multiply your time may be you can keep your margin low, but will give you more
volume and increase in your turnover.

Most SME’s start well during there initial stage of launching the business but
looses its consistency do to pool of workloads on its day today life. It is
often seen that hiring more employees gives extra load on limited earning
resources resulting less revenue than expected. You need to put more efforts on
Marketing and concentrate on your other activities so that you can do business
with an ease. Outsourcing is one of the solutions for small and medium business
entities too, that give them more opportunity to utilize there valuable time on
marketing and other efforts. (Provided they get an honest an able outsourcing
partner.)

Outsourcing is hiring a third party service provider to participate as a team
member in your organization and share your workload. You may need to outsource
your projects to save your time and get an expert professional to do the job for
you. It is helpful to you in terms of, managing and multiplying your time so
that you can focus on other important activities of your business needs. This is
another effective tool to stay ahead with your competitions. By sharing your
workload you get enough time to manage your business and think of its better
promotions. You can outsource many things mainly your daily business activities
i.e. accounting, document processing, Web site maintenance, Secretarial work, or
other works need manual operations as well as marketing services. Below are some
reasons to give an idea about benefits of outsourcing.

1.You save time in finding, interviewing and
selecting the new employees by hiring an agency or search for your own.

2.You save time on providing them proper training
as well as they need to adjust with your work culture too.

3.You can save your time, which you need to do all
time-consuming paperwork requires hiring a permanent employee to your
organization.

4.You do not need to buy extra equipments for your
existing setup.

5.You save cost in your daily office expenses as
well as recurring employee charges i.e. Taxes, Insurance, Medical, leave and
many more.

6.You can utilize your time in better way and can
deliver better output for your business.

7.If you are a contractor, you can hire a
subcontractor and focus on more orders.

8.If you are marketing professional you can double
your marketing efforts and can have a wider reach.

9.You will be giving the extra efforts, which all
are needed in present competition, to develop your business and getting more
volume of works.

10.You will be getting a professional who has
expertise in his own field and can deliver you better output.

There are many more reasons why you need to outsource your projects. Today time
management is an important aspect of your business. There are many instance of
SME’s growing to a large business houses simply multiplying there existing time.