Category: Business

The Director’s Guide To Effective School Management and Improvement

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Having a knowledgeable and effective school director is a key ingredient for successful learning environments. A school leader should have the skills to balance competing demands and foster relationships with staff, parents, and students – all while setting the course for future improvement and progress. Sean Monteith explores the role of the School Director as it relates to five essential elements of effective school management: creating an inspirational vision, building an efficient team, improving communication strategies, fostering collaboration and innovation, and enacting sustainable change initiatives. With a focus on directing successful schools, this guide provides actionable advice that administrators can utilize to sustain inspiring outcomes in the classroom and beyond.

Establish A Vision And Goals For The School

Developing a clear and inspirational vision for a school is essential for achieving success and growth. It sets the tone for the school’s culture, drives decision-making, and provides guidance for achieving academic and social objectives. The vision should resonate with the stakeholders (students, parents, teachers, and the wider community) and be realistic yet ambitious. Establishing goals that align with the vision is equally important. The goals should reflect the school’s unique strengths and challenges and be regularly reviewed and adjusted. By having a powerful vision and goals, schools can maintain focus, stay motivated, and achieve great things.

Develop An Action Plan To Reach Those Goals

Developing an action plan is crucial in achieving your goals and aspirations. It’s a roadmap that guides you to take the necessary steps to reach your goals. Instead of merely dreaming about what you want to achieve, creating an action plan helps bring your ideas to life. It offers a clear vision and a sense of direction on how you will go about your journey and what steps must be taken. Through developing an action plan, you will break down your goals into manageable tasks and develop a plan of action that will lead to success. Remember, planning is key, and an action plan is the first step.

Enhance Communication Within The School Community

Effective communication is key to fostering a strong and vibrant school community. When communication is optimized, parents, teachers, and students can all work together to create a safe and inclusive learning environment. One great way to enhance communication within the school community is by using technology. With the help of modern communication tools like email, instant messaging apps, and social media, everyone can stay informed about important updates, school events, and other important news. Another way is to organize regular meetings and workshops. This ensures that everyone is on the same page and has a chance to express their thoughts and ideas. By enhancing communication within the school community, we can promote collaboration and encourage a sense of belonging, which can positively impact students’ academic success and overall well-being.

Foster Professional Growth For All Staff Members

Investing in the professional growth of staff members can lead to a skilled workforce and, in return, improve performance and higher levels of job satisfaction. When employees feel valued and supported in their development, they are more likely to take ownership of their work and proactively seek solutions to challenges. Providing opportunities for ongoing training and mentorship can also help cultivate a culture of continuous improvement. By fostering professional growth for all staff members, organizations can not only enhance their team’s capabilities but also strengthen their overall competitiveness and ability to deliver quality work.

Incorporate Technology Into Everyday Learning

Technology has revolutionized the way we learn today. With the advancement of technology, it has become easier to incorporate it into our daily learning routine. The integration of technology in education has paved the way for diverse and engaging learning experiences that go beyond the traditional classroom setting. Integrating technology not only enhances students’ understanding of concepts but also equips them with the necessary skills for the future. The use of interactive videos, digital textbooks, online quizzes, and other online resources offers learners a more immersive and personalized learning experience. By incorporating technology into everyday learning, students are empowered to become active and autonomous lifelong learners who can leverage technology tools to succeed in all aspects of life.

Utilize Data-Driven Decisions And Strategies

Whether it’s analyzing customer behavior, market trends, or financial performance, utilizing data-driven strategies can uncover valuable insights to drive growth and success. With the right tools and resources, decision-making becomes more informed and strategic, leading to better outcomes and a competitive edge. Harnessing the power of data is essential for staying ahead of the curve and achieving long-term goals.

Implement Effective Student Discipline Procedures

Effective student discipline procedures are important for maintaining a safe and productive learning environment. Well-implemented procedures not only reduce disruptive behavior but also help students learn self-control and social responsibility. Teachers and school staff must work closely with students and parents to establish clear expectations and consequences. This can include behavior contracts, counseling services, and restorative justice practices. It’s also important to ensure that discipline procedures are fair and consistent, avoiding biases or discrimination. When students understand the expectations and consequences, they are more likely to behave appropriately and avoid disruptions that can undermine their learning and that of their peers. With effective discipline procedures, schools can create a positive climate that benefits everyone involved.

Promote A Healthy Learning Environment

Creating a healthy learning environment is crucial for students to thrive and succeed. To do so, it’s important to cultivate a positive and supportive atmosphere where students feel comfortable enough to express themselves and ask questions. This can be achieved through communication, listening, and respecting one another’s ideas and opinions. Additionally, ensuring that classrooms are safe and clean, with proper ventilation and lighting, can help promote overall physical and mental well-being. By prioritizing the health and wellness of our students, we can help them reach their potential and lay the foundation for a lifetime of success.

Encourage Parental Involvement In Students’ Education

Parental involvement in student’s education cannot be overstated in its importance. When parents try to stay involved in their child’s academic journey, it shows the student that their education matters and that they have a support system. This involvement can come in many forms, such as attending parent-teacher conferences, participating in school events, or simply taking an interest in their child’s homework. When parents prioritize their child’s education, it sets a positive example and lays the foundation for academic success. Teachers and schools can also play a role in encouraging parental involvement by creating opportunities for parents to get involved and by communicating clearly with parents about their child’s progress.

Analyze Performance Outcomes And Improve Areas of Weakness

In any field or industry, analyzing performance outcomes is essential to identify the areas that need improvement. It could be anything from production processes to customer service. A thorough analysis of performance outcomes helps you see where you stand and what actions you need to take to enhance performance. It isn’t always easy to see where you’re falling short, but once you do, it becomes an opportunity to turn things around. Identifying weaknesses and finding ways for improvement is critical to staying competitive. Whether you’re running a business or pursuing a personal goal, understanding the importance of analyzing performance outcomes and knowing how to improve upon them could be the key to your success.

Final Thoughts

Ultimately, school administrators should strive to create and maintain a positive and inspiring learning environment. Schools can be successful by establishing a clear vision and goals, developing an action plan to reach them, enhancing communication amongst all stakeholders, fostering professional growth opportunities for staff members, incorporating technology into everyday instruction, utilizing data-driven decisions and strategies, implementing effective student discipline procedures, promoting a healthy learning environment and encouraging parental involvement in their child’s education in meaningful ways. As leaders in the ever-changing educational landscape, administrators must analyze their performance outcomes and identify areas of strength and room for improvement. It is only by taking active steps that schools can develop the necessary skills for students to become productive contributors to our society. Create momentum by setting achievable goals and making sure expectations are clear to ensure success in achieving them in the future.

Nancy Etz

Challenges Female Entrepreneurs Face During a Pandemic

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The COVID-19 pandemic has reinforced the traditional gender gap between female and male entrepreneurs. Babson College reports even before the onset of the pandemic female entrepreneurs earned 30 cents per dollar of a large business. The pandemic has only highlighted these differences between the genders, with female-owned businesses hit the hardest by COVID-19. Literary agent, Nancy Etz, has fought to become a success in her field and feels COVID-19 will see many female-owned businesses shuttered for good.

Taking on Childcare

The issue of childcare consistently rises to the surface for female entrepreneurs. The traditional view of childcare is that it is the responsibility of females within a family. Nancy Etz explains parenting issues have become a problem during COVID-19, with the closure of schools leaving children in the care of working parents. Female entrepreneurs have seen the time they have available for their business and clients slashed as they have faced the issue of parenting full-time during the pandemic. Becoming a full-time parent has been a problem for women leading successful businesses during the pandemic as they struggle to juggle family and corporate roles.

Employee Issues

Parenting during lockdowns forced on families by COVID-19 does not only affect female entrepreneurs. Douglas Magazine reports women in business are more likely to employ females in important positions. The gender gap has been widening between the people employed by male and female-led companies. During the COVID-19 pandemic, the gender gap caused issues for female entrepreneurs who lost many of their female employees to childcare issues.

New Industry Protocols

Female entrepreneurs have traditionally found a home in the travel and leisure industries, which have been hit hardest by the current pandemic. The introduction of new safety protocols during the pandemic has become an issue for female entrepreneurs, with isolation protocols limiting the desire to travel. The lack of interest in travel and leisure activities throughout 2020 led to a fall in revenue for businesses owned by female entrepreneurs.

A lack of Government Funding

The lack of funding made available to targeted groups by the U.S. Federal Government is a problem for Nancy Etz. The literary agent explains the government furlough and paycheck protection programs have offered some relief, but not enough for female entrepreneurs. By failing to address the specific needs of female entrepreneurs, government agencies are allowing women to lose their businesses at a time when the U.S. economy is struggling. More funding to subsidize the Paycheck Protection Program is needed, according to the U.S. Chamber of Commerce.

How to Address the Problems

Female entrepreneurs are more likely than their male counterparts to close their business during the pandemic. Government agencies and financial institutions can play a role in protecting female-owned businesses from closing by offering more assistance. The three Stimulus Bills that passed through the Senate and Congress have offered a glimmer of hope. Female entrepreneurs need financial assistance, even when they have few cash reserves to fall back on.

Surviving the pandemic has become a badge of honor for entrepreneurs, regardless of their gender. Female entrepreneurs face traditional and new obstacles to achieving success that is worsening as the pandemic continues over a year after COVID-19 arrived in the U.S.

Daniel Doyle

Tips For Becoming a Better Mentor

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Becoming a mentor is an opportunity for you to give back in appreciation for your success. However, if you’re devoting your time to helping other professionals in your field, you’ll want to ensure you’re offering a service that has value. These tips can help you become the best mentor you can be, so you can trust that your service is helpful.

Set the Guidelines

It’s up to you to determine how far you’ll go for those you’ll be mentoring, including when you’ll be available to them. Typically, the mentor’s role is merely to guide an up and coming professional, giving them the insights that will help them avoid common pitfalls. If you don’t set the limits for what services you will provide and when you’ll be available, your mentoring duties can overwhelm you. As Daniel Doyle recommends, defining your rules clearly and openly will also help those you’re mentoring to understand the nature of your relationship.

Assess Your Mentee’s Needs

Each time you take on a new mentee, you should conduct a one-on-one interview in which you assess the individual’s needs. Some people will be more prepared for the challenges of their new career than others, so you will have to determine the needs for each individual. For example, one person may only need to seek out your insight for a specific situation here and there. Conversely, another individual may need more hands on guidance that will require regular meetings and frequent updates. As the mentor, it will be up to you to determine how much coaching each mentee will require to ensure their success.

Don’t Be Afraid to Push

Your goal as a mentor is to ensure those you’re mentoring are consistently striving to succeed, which means you can’t be idle in dealing with them. You’ll have to identify their shortcomings and weaknesses, so you can determine when your mentee’s are falling prey to their own bad habits. This will help you recognize when it’s time to push them a little harder. They should be kept just outside their comfort zone to ensure they continue to push themselves to achieve new goals. This is the only way they will keep their careers on track. You can further help them by looking for ways to stir their competitive streaks. When they feel the drive to surpass their peers, they’ll gain more positive attention and discover new opportunities for advancement.

Always Maintain a Supportive Nature

Your mentee will need your support for as long as you work with them. It’s easy to be supportive when your mentee is succeeding or following your advice, but what can you do when you warn them about taking an unwise action? Each mentee is an individual with free will, so you can’t expect them to listen to you all of the time. They will make mistakes and suffer the consequences. Since they will be feeling bad enough, they won’t need you to remind them that you warned against taking that action. Instead, be as supportive as possible and help them make better decisions going forward. Any experienced mentor, such as Daniel Doyle, knows that every mistake or poor decision is a learning experience. Your goal is to help your mentee recognize the lesson to be learned from their mistake, so they can improve their approach.

Hone Your Communication Skills

It’s easy to see a mentee as someone who is inferior in skill and experience, but that doesn’t mean they’re undeserving of your respect. Remember that they have gone through the challenges involved in obtaining the necessary qualifications for their career path, and seeking out a mentor is a sign that they take their career seriously. For this reason, you’ll develop a better rapport with your mentees if you know how to speak tactfully with them. Even when you see them making a foolish mistake, try to keep in mind that you also made your fair share of hasty decisions in your youth. In providing your feedback, be sure to use a respectful tone just as you would use with any of your own peers. When a mentee recognizes the respect you’re showing to them, they will be more open to what you have to say.

You’ll make mistakes as you start out mentoring others, but your willingness to learning from your errors will help you improve the quality of service you offer. Additionally, don’t be afraid to ask those you’re mentoring for their feedback. This will provide you with the insight you need to become a great mentor.

startup pr

Here’s How You Do PR For Startups

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Startups have an uphill battle when they start a business. They are new on the scene, so they need to create a name for themselves. They also need to establish trust in the community. That’s where public relations comes into play. Here is how to do startup PR.

1. Research the Industry

In order to create the best PR plan possible, you need to do your research. You need to research your competition to learn what they offer. This can help you highlight the things that set you apart. Once you know who your competition is, you need to learn what they are doing to advertise. What has been effective? What hasn’t worked so well? Finally, you want to research marketing in your industry. What are the most popular keywords? Knowing popular keywords can help you create a PR plan that includes the things people are searching for.

2. Clarify Target Audience

You need to clarify your target audience in order to create a PR plan that targets your audience in particular. Use surveys and information already available to you to learn about the most popular demographics. You will target males between 18 – 30 differently than women 55+. That being said, it’s okay to target multiple demographics.

3. Get Involved in the Community

People like to see companies getting involved in their community. Sign up for local charity events. Even better, look for events that will be covered heavily by the media. Don’t forget to wear your company’s logo on your hat. Don’t be afraid to speak to the media, either! Just make a point to emphasize the cause instead of your business.

4. Develop Professional Connections

You need to make friends in your industry. These friends can give you advice or even end up becoming a valuable partner. In order to do this, you need to go to local events for professionals in your industry. Do your best to make a good impression. You never know who you will meet.

5. Utilize Social Media

Social media is a powerful tool for business. It gives you the ability to connect with your audience and other people in the industry. Create a social media account for your business on a number of different platforms. The most popular platforms right now are YouTube, Facebook, Twitter, and Instagram. Use pictures and videos to really make your content stand out. Don’t forget to maintain a consistent energy throughout your posts. This is how you will establish a personality for your brand. You can choose to be playful, professional, hip, or traditional.

6. Establish Yourself as Expert

People need to be able to trust you and your brand. When people trust you, they will be more comfortable giving you money. They will also come to you for questions or other needs that apply to your industry. One of the most popular ways to establish yourself as a leader in the industry is to write a regular blog. Write high quality blog post with a lot of information. Write on relevant topics that people who need your products or services may be interested in.

7. Write an Amazing Email Pitch


An email is a powerful tool for startup PR. If you want people to respond to your inquiries, you need to pitch them. Email is an effective way since people can respond to it on their own time. However, email is easy to ignore, too. Start your email campaign with an eye-catching subject line. You only have limited space, so keep it short and sweet. You also want to keep the email relatively short and to the point, too. Many people won’t spend more than a couple of seconds looking at an email before deciding whether they want to continue or not. Start the email with what you can do for them. Once you have a great email campaign, you need people to send it to. Offer a place on your website for people to sign up for your emails. However, you may not have a huge list, to begin with. Next, you can use a lead generating platform to get more emails.

PR is a necessary aspect of starting a new business. With a strong start, you may be able to create a good name for yourself. Soon, you will be focused on maintaining your clients instead of focusing on getting new ones.

hemp processing

How to Start a Hemp Business That Will Make a Profit in 2021?

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Hemp continues to be a very profitable business that has come about in recent years. Through the legalization of marijuana, hemp has gotten to be a more acceptable form of producing CBD. However, it is crucial for you to have a plan in place to start and run a profitable hemp business. It all starts with realizing that this is a business like any other, so if this is a passion for you, you should find a way to treat it like a serious business.

Understanding Your Why

Hemp processing is just like any other business. You don’t start a business without a good reason to do it. The majority of people start passion businesses, but those can become a nightmare if they aren’t careful. You need to have the right mix of passion and an understanding of the numbers to succeed in this field. The first thing you want to do is figure out what you are trying to do by getting into the hemp business. CBD has become a hugely popular cure, and it is promoted by many professional athletes. Processing hemp leads to CBD and other byproducts. This has to be something that you feel brings purpose to life, or it will fail in the future.

Doing Research

Once you have figured out why you are starting this business, it is time for you to start doing research. You need to understand the lay of the land. Who are your main competitors? What is your main differentiator? How can you beat them? All these questions need to be asked before you can start. You want to be in a place where you can bring something new and exciting to the market to bring customers to you. You need to understand everything that’s happening in the market, and it might mean registering for some industry websites. These will keep you up-to-date with the latest information, and it will even help you meet like-minded people.

Understanding Local Regulations

One thing about this business is that it can be a legal minefield. That is why you must understand all the relevant laws regarding hemp and CBD. You don’t want to start your business and then have it be seized over legal troubles.

Setting Up an Internet Presence

The easiest way to run and be successful with your hemp processing business is to set up an Internet presence. Being on the Internet is going to help you run a successful business a lot easier. You will be able to find more customers easily, and it will be cheaper for you to run everything. Operating a storefront is one of the hardest and most expensive parts of running a business. You can get rid of all those costs by having your own Internet domain. It only costs a few dollars to run every month, and you don’t have to worry about all the downsides of a physical business. This step involves getting a domain name and social media accounts that are associated with that domain name. The key is to try to build a brand that will be recognizable in the future.

Building a Marketing Strategy

Once you have set up your domain name and built a good website, it is time for you to look into all the marketing you will need to attract and keep customers. Marketing will be the deciding factor in whether you are successful or not. You will need to build a presence on social media websites to brand yourself as the cool and hip hemp processing company. You can also run marketing and advertising campaigns to bring in more customers. No matter what you do, the opportunities are endless when it comes to marketing on the Internet.

Hiring People to Help

One of the best ways to make your business profitable is to hire people to take over tasks that you would normally do. It will take a long time to train them, but once the initial training is done, you will be able to reap the rewards of having experienced people doing the job for you. These people will be able to do more work since they are working on only one thing. You can create a good system that helps everyone perform better.

Growing and Scaling Your Business

Finally, the most important thing is to scale your business as much as possible. It is going to be extremely effective for being as profitable as possible. Scaling a business is the most important thing to do, and you will have to decide how to do it. However, the hemp business is like every other, so it won’t be too difficult for you. The key is to always look at systems and how they can be leveraged to remove yourself from the process.

MRO optimization

Best Practices of MRO Optimization

AlissaB Leave a comment

Having your business work as efficiently as possible to increase your profitability is the goal of all companies. There are a variety of different things that every company is responsible for. With so many moving parts and moving people it can be difficult to keep track of everything going on within a facility. To help ensure that your business is running smoothly it is essential that every company has a strategy for MRO optimization.

MRO refers to the maintenance, repair, and operations that take place within a facility. Often times, companies are more worried about the product and less focused on MRO. Since MRO does not directly produce profits it is often overlooked by companies. Many companies fully appreciate the fact that without an optimal functioning MRO, the company would not be able to do business at all. If you are in charge of a facility there are many things that you need to understand about the optimization of MRO. Here are some of the best practices for it.

#1) Maintaining Optimal Inventory Levels

One essential best practice for having optimized MRO is to have optimal inventory levels at all times. If you have optimal inventory levels you can have peace of mind knowing that everything in your facility is where it should be. If a machine breaks down you need to have the reassurance that you have the parts to fix it. If you do not have parts on hand this could lead to a delay in products, which would ultimately reduce your profit margins. It would also result in your workers getting paid while they just sit and wait for something to get fixed. Having an optimal MRO inventory gives you and all other plant managers the ability to save money and time while increasing profits and productivity.

#2) Storeroom Management

Another main factor that can affect MRO optimization levels is the storeroom management. The management of a storeroom is a main influence on the company and how the facility runs. If the storeroom is often cluttered and disorganized the company is likely operating the same way. To help increase optimization it is crucial that you have a well-managed storeroom To more efficiently manage your storeroom you may need to hire a third party company to help you track and monitor inventory levels, better organize the area, and prepare an area for work. When a storeroom is efficiently managed it can help increase the speed of repairs and reduce the spending within a facility.

#3) Increased Productivity

When MRO is efficiently optimized it can significantly increase the productivity of the entire facility. Many mechanics are only as productive as the tools and inventory that they have. If a mechanic does not have the things they need to fix a machine or the parts are unable to be located they are unable to do their job. This results in a delay in production and a reduction in costs. To help increase productivity MRO must be optimized.

#4) Use An Accurate Digital Platform

If you are looking to increase the functionality of your MRO you need to ensure that you are using a high-quality digital platform to track all of your data. Having an accurate and up to date digital platform can help increase the speed and convenience of all your MRO processes. It is important to have a reliable digital platform. If one thing is off in your digital platform it can cascade further down to other areas of your company. One small miscalculation or error in inventory can cause a long chain of disruptions. This can significantly reduce your profitability and your productivity. If you are unable to maintain an accurate digital platform you may need to use a third party company to help secure a platform that is reliable. using accurate artificial intelligence programs can completely change the way in which your company operates.

If you are a business executive or a plant manager it is crucial that you understand the best practices of MRO optimization. Understanding how the entire MRO processes work and affect the productivity of the company as a whole is an essential piece o your job. you must fully understand how MRO inventory affects each person’s job and how one error can result in thousands of dollars of loss and less work getting done. These best practices in the optimization of MRO can significantly help increase the productivity of your plant and help ensure that all data is accurate and up to date at all times of the year

Nancy Etz

How to Become an Assistant at a Creative Artists Agency

AlissaB Leave a comment

Before becoming an agent, like Nancy Etz, at a creative artists agency, you’ll need to be an assistant first. Even if you have the correct schooling, you’ll need to start at the bottom and work your way up. Not only will this help you know what to expect, but you’ll be able to figure out if it’s something you want to do or not. There are many things you need in order to be an assistant and you’ll need to make sure you have these skills. To help you understand, we’ve put together a list of 6 different things you’ll need in order to excel in this career.

Bachelor’s Degree

One of the biggest things you’ll need to become an assistant is a bachelor’s degree. In terms of actual area of expertise, you’ll want to get a bachelor’s in either communications or business administration. In fact, many agencies won’t even bring you on as an intern if you don’t have one of these degrees or at least working towards it. There are some, though, that will bring you on without requiring you to have one. The best way to figure out whether or not you need it is to talk with the agencies you’re considering and see what they require. Even if they don’t, if you you get the degree, you’ll be able to use it in the future if you decide you want a different career.

Know Your Clients

It’s also extremely important to know your clients. Since the whole goal of one of these agencies is to help clients find gigs or jobs, you want to make sure you know every single one of them and exactly what they’re looking for. Not doing so could make you lose business and stop clients from recommending you. Since there are so many people that come in and out of these agencies, it would be a good idea to set up some kind of program to keep track. You’ll want to add things like what the person is looking for, the desired pay and what kinds of jobs they’ll be willing to take.

Able to Multi-Task

Assistants need to be able to do multiple tasks at once, especially if the agency is very popular and has a lot of clients. The exact tasks that need done will vary depending on location and particular agency, but most will have at least a few of the same ones. Some of these are: answering phones, making appointments, running various errands and talking with clients that come into the office. Since things can get pretty hectic and fast, you want to make sure you can keep yourself calm and keep your focus to ensure you get everything done.

Applications Knowledge

You’ll also need to have applications knowledge. This includes applications like Word, Excel and and PowerPoint. Since times are changing, it’s extremely important to be able to work any new application that comes out. In addition to typing up various announcements, you’ll also need to create presentations and use excel to store various types of data. The exact applications will vary from place to place, but it’s a good idea to learn as many as you can. To help ensure you have skills and knowledge in the required applications, you should reach out to the agencies you’re considering to see what they require.

Social/Extroverted

To be an assistant, you’ll need to be social and extroverted. Since you’ll be working with so many people and meeting new people everyday, you want to make sure you have these skills. Not only will the clients feel comfortable with you, but they’ll also feel confident that you know your stuff. If you don’t have these traits, you might want to try a different career. Keep in mind, though, there’s always exercises you can do to help develop these traits and make it so you can prosper in this career field.

Good Time Management Skills

Finally, having good time management skills is quite essential to being an assistant at a creative artists agency. There’s a high chance that you’ll have quite a few tasks that need done every day and ensuring you divide your time up correctly could mean the difference between getting it done and dropping the ball. If need be, use some kind of program to figure out where your time needs to go and remember to get the most urgent things done first!

These skills and requirements are extremely important and are crucial to the job. Keep in mind, even experienced agents, like Nancy Etz, started at the bottom and worked there way up. It’s a lot of hard work, but if it’s something you want to do, you’ll appreciate the experience and additional skills that you learn. By being an apprentice or intern at first, you’ll be able to figure out if you want to continue with that career path. If you have any questions, reach out to a professional and get their answers

Jason Vanclef

How to Choose a Financial Consultant?

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Hiring a financial consultant can completely shift your approach to money management. The right financial consultant can help you manage your funds, develop a solid savings and spending plan for the future, and make the most profitable investments. If you’re looking to hire a financial consultant, consider the following tips:

1. Understand the Different Types of Financial Consultants

If this is your first foray into the world of professional financial planning, it’s important to learn the differences between various types of consultants. Most financial consultants offer a bevvy of services like investment management, financial planning, retirement income planning, wealth accumulation, and more. Assess your financial needs and your particular situation to determine what financial services you will benefit the most from.

In the world of financial consulting, you’ll see that there are three types of services offered: financial planning, investment advisory services, and retirement income planning. While financial planning centers on every aspect of your finances, investment advisory services focus on investment management functions and retirement income planning focuses on coordinating pensions, taxes, Social Security, and more.

2. Check Each Consultants’ Credentials

The next step in selecting a financial consultant is to analyze their credentials. When it comes to financial consulting, all credentials aren’t the same. Jason Vanclef warns that certain organizations create credentials that are easy for anyone to acquire. Be sure your financial planner has reputable credentials like a Personal Financial Specialist or a Certified Financial Planner. These credentials prove that your consultant has demonstrated proficiency in financial management and advising.

These hard-earned credentials must be obtained by passing an exam. To maintain these credentials, advisors have to uphold an ethics policy while they also meet requirements for continuing education. As you vet your various financial advising candidates, you can also check the National Association of Personal Financial Advisors as they require consultants to obtain additional continuing education credits.

3. Understand How Consultants Are Compensated

As financial consultants don’t have to work with their clients on a day-to-day basis, many have their own methods of compensation. Jason Vanclef shares that the most objective advisors work by fee-only. Fee-only advisors only get paid according to their previously agreed-upon fees and aren’t allowed to accept incentives or kickbacks from their company.

Though many experts recommend working with fee-only advisors, it’s important to consider these methods of compensation based on your needs. To illustrate, clients that are purchasing investments may benefit from paying a financial consultant by the commission.

4. Use a Financial Advisor Search Engine

Though your first instinct when searching for a financial advisor may be to consult Google, there are better ways to find a financial advisor on the Internet. As you look for the right financial consultant, look through specific search engines that narrow down your search by ZIP code. Search engines from the Financial Planning Association, Boomerater, NAPFA, Paladin Registry, and more will all point you in the direction of qualified advisors. As most of these search engines only include certified financial professionals, you’re guaranteed that these individuals are already vetted.

5. Ask the Right Questions

Don’t forget that your search for a financial consultant is still a job interview. Avoid hiring a financial consultant without first asking a series of pertinent questions. Make sure your interview questions include asking them about their areas of expertise, a profile of their ideal client, and their preferred methods for communication.

Be sure you’re making the smartest decisions when it comes to your finances by working with a professional financial consultant. The best financial consultant will make sure you’re set up for future financial success

3 Legal Obstacles Entrepreneurs Have to Worry About

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Being an entrepreneur can open up a lot of freedom and opportunities to make money. An entrepreneur also has many opportunities to get into legal trouble as well. Some of these legal issues can be anything from hiring the wrong legal counsel, not having their business structure properly in place, and issues with intellectual property. Some of these issues are easy to avoid while others are a bit more complex. With the right plan in place, a lot of these issues can be avoided. Let’s take a closer look at some of these issues.

1. Intellectual property

Intellectual property rights can get a person in a lot of trouble. These cases often can run-up massive legal bills. An example of IP rights is copyright, trade secrets, and trademark.

A lot of these issues come from new entrepreneurs trying to get their brand in place. They might make a brand or symbol and it might look similar to another brand or symbol. This could be a potential IP legal issue. A lot of these issues don’t come from someone doing something bad. A lot of the time it’s just a simple mistake.

Some ways that a young entrepreneur can prevent this is by hiring a good IP lawyer and seeing if their brand or anything else conflicts with someone else’s IP rights. No one wants to have their work copied, even by mistake, by someone else. A good IP lawyer can also protect young entrepreneurs from their IP issues in the future.

2. The right business structure

Having the right structure can affect a lot of things. The wrong structure can limit an entrepreneur’s options. If they want to be publicly traded int he future or remain private this is something to consider. An example would be partnerships. A partnership comes in two types. A limited partnership means one partner would have unlimited liability and other partners would have limited. A limited liability partnership offers limited liability to everyone.

Knowing these differences can prevent a lot of issues that may come up in the future. Liability is a big deal in the business world. The goal is to keep what the business is liable for as low as possible. Having a lot of liability is not a good thing. A business would not want to have unlimited liability if they can avoid it.

The business structure also effects how a business is taxed. A young entrepreneur who plans wrong and doesn’t set aside enough for taxes will run into a big problem. Problems with the IRS can range from being set up on a payment plan to even being held liable for certain legal issues. It’s always best to keep taxes as accurately as possible to avoid these problems.

3. Legal counsel

This can be a big problem for people in general. Not every lawyer is a good lawyer and even good ones may not be a specialist in the issue you are facing. It’s best to look at a number of legal professionals and vet them as closely as possible. Look up things like reviews of their work, their bar license, and what cases they recently took on. It’s important to check if the lawyer you want is well trained and educated.

An example would be hiring an IP lawyer that has good reviews, a prominent law office, and has cases that relate to IP issues that are recent. There are multiple ways to do checks on a lawyer. One of the best is to do a sit down at their office and get a feel for them.

An example of a good lawyer would be Douglas Healy. It is best to look for legal counsel like Douglas because vetting can be pretty hard sometimes.

4. Conclusion

Legal issues can quickly ruin an entrepreneur’s business. Some of these issues relate to IP rights, appropriate legal counsel, and business structure. These issues are common ones for new entrepreneurs to face. IP issues are often innocent in nature but can still turn into big, expensive issues if left unchecked. Business structure has an effect on everything from taxes to liability. Good lawyers like, Douglas Healy, should be used as an example when looking for legal counsel. As long as an entrepreneur has a proper plan in place, then a lot of these issues can be avoided

5 Financial Challenges Self-Employed People Face

AlissaB Leave a comment

Being self-employed is awesome, and comes with a lot of advantages that people working “real” jobs don’t get. However, it also comes with its own challenges as well, particularly financial challenges. Knowing these challenges, and planning for how you will deal with them, is a must for anyone who’s considering becoming self-employed. The good news is that a little knowledge goes a long way, and overcoming these challenges isn’t as hard as you may think. Let’s go over five financial challenges that self-employed people face, and how to beat them.

1. Buying Your Own Equipment

When you work a normal job, all the equipment that you need to do it is provided for you in most cases. But, when you’re self-employed you’ll be buying all your equipment on your own. This could be anything from a new computer to word processing software, or even something like a lawnmower if you’re in the landscaping business. As you can imagine, the upfront costs for this can be a pain.

One way of dealing with this problem is self employed loans. This will allow you the money you need to purchase all the equipment you need to get your business started. Also, don’t forget that business expenses are tax-deductible, so use that to your advantage when tax time comes.

2. Paying Taxes

Speaking of taxes, unlike people who work normal jobs who get a tax refund at the beginning of each, you’ll be expected to pay taxes instead. You can also pay quarterly as well if you wish, but either way, you will have to pay your taxes.

The best way to overcome this challenge is to deduct as much as you can when you file your taxes. For example, you can deduct all of your office equipment that is used solely for your business, and even the cost of your office space itself.

3. Health Insurance

If you live in the US this is probably one of the biggest challenges you’ll face as someone who’s self-employed. While many people get their health insurance through their employer, you’ll be expected to get it on your own. This can leave you with limited options, many of which are overpriced.

The only real way to deal with these issues is to budget your income wisely and make health insurance a top priority. In a way, you should think of it as an expense, since you can’t really go without it, so make it one of the first things that you subtract that from your income when writing your budget.

4. Work Will Be Inconsistent

When you’re self-employed, you don’t get a steady income. Instead, it tends to come in waves: at some points, you get tons of work and make a lot of money, at other times you won’t get much at all, and it can be worrisome. This feast and famine cycle is just a fact of life when you’re self-employed, so get used to it.

Beating this challenge isn’t hard though. Just save up plenty of money when you’re getting lots of work. Sure, it can be tempting to go on a spending spree, but remember that a dry spell is always just around the corner, so save up.

Also, if you’re having trouble finding work and really need some extra cash to hold you over until the next job, self-employed loans can help. Just don’t become too reliant upon them, going into debt isn’t going to help you in the long run.

5. Retirement Accounts

Another thing that gets handled automatically when you work a normal job but not when you’re self-employed is your retirement savings. What this means is that you’re going to have to take it upon yourself to make sure that you have enough money in savings to last throughout your retirement because no one is going to do it for you.

Fortunately even as someone who is self-employed, you have several options. You can open an IRA (SEP, Simple, Traditional, or Roth), create a solo 401k, or get a defined benefits plan. This may sound complicated, and it can be, but there are services out there that can help you set it all up.

Be Smart About Self-Employment

How well being self-employed works out for you is in large part due to how well you plan on tackling the challenges that will come your way. If you stay smart and prepare for these challenges properly, then you can achieve your dream, and live the life of freedom that you’ve always wanted