Hope Wissel

Money Wisdom

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We are halfway through the year and the fiscal year closes for Thirty One today.  Each year, I review my goals and my finances.  It has been a rough few months adjusting to the diagnosis of MS (#MSwillnotdefineme) and another possible auto-immune disease but I am not using that as an excuse to not move forward.  For some that may seem harsh, for others they will understand that staying positive and moving forward is what gets me up every day.

I have learned (yes, in my 50’s) a few things that I wish I had of learned in my 20’s.  Learning is an ongoing process and I am determined not to give up on my goal of being debt free from credit cards.

#1 A bigger and better job doesn’t mean you get to spend more.  By keeping your costs the same when you increase your salary you’ll be able to save some.  I always thought more money meant that I could spend more.  Silly me!

#2 Never spend more than what comes in.  And limit your card to the lowest possible. This has been the toughest for this recovering addict to conquer.

#3 Pay off any debt first.  Pay your credit card debt as soon as possible, those high interests won’t be doing you any good. Then once they are paid off DON”T use them anymore.

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#4 Student loans on autopilot.  Students loans usually have a really small interest rate so make regular, steady payments to pay of your loan and it’ll soon be a thing of the past.  Check out too if you are eligible for a “forgiveness program”.  Make 120 payments on time & the balance of your loan is forgiven.  WOOHOO!

#5 Build a back-up.  YES, saving is still important even if you have debt.  Make sure you always have a few hundred set aside for unexpected costs and bills.

#6 Insuring yourself is essential.  A crashed laptop, unforeseen doctors bill or stolen bike can wreak financial havoc if you’re not insured. That cost per month will pay off in the long run for any unexpected mishaps.

#7 Set long term goals to help you focus on what you really want. Figure out how much you’re gonna need and start saving now.

#8 Monetize your talent if you can.  Write blogposts, take photographs or try to monetize your special skills as (additional) income.  I have been a crafter for as long as I can remember.  I just wish I had of saved some of that money.

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#9 Think about retirement.  This is especially important if you are your own boss.  Sadly, I learned too late that it’s essential to put away money for the future.

#10 Lastly, here is a marvelous piece of advice given by StickleyMan on Thought Catalog. It’s reaaaaaally good.

Take some more chances. You know that idea that’s been ruminating in the back of your mind for years? That one that doesn’t have anything to do with your job or your mortgage. That one that falls outside your schema of living and routine and that you shrug off as some immature or impractical idea; as just some silly fantasy. Maybe it’s a crazy business idea or a trip to go live in a hut in India for three months or to breed Pygmy hippos or to become a juggling street performer. Whatever it is, explore it. Maybe even try it. I don’t mean take a stupid, life-threatening risk. I’m not suggesting a trying a lifestyle of meth addiction and bare-knuckle Fight Clubs. But something outside your comfort zone. Try it. Maybe you’ll fail miserably at it. But just try it. Because in about a decade when you’re responsible for more things and more people, you won’t be able to. And you’ll find yourself in a self-imposed mental prison of ‘what-ifs’. And take it for someone who didn’t because I was too scared, too embroiled in my own insecurities and addictions, and so heavily conditioned to fear failure – you’ll wish you did.

Any cash lessons you learned in the past year? Tell us in the comments, we’d love to hear how you spend and save.

Business Tips and Tricks

Change the World or Money

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The 3 components of a successful direct sales business.  We have heard it all before, right?  It is drilled into our heads from the first day.  For many, the book and sell is easy.  But when it comes to recruiting, they freeze.  Why?  Fear of having to lead others?  Fear of competition?  Fear of having their sales drop because their best hostess/customer is now a team member?  Or maybe it is the fear of not knowing what to say?  How do I share the business without being a “pushy salesperson”?  How do I find the right person?

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I came across this great analogy:

Finding new recruits can be like attending a birthday party for 7-year-olds. Some children run and jump. Some scream and laugh. And some sit and watch. When you meet a new person who is interested in your business, it’s natural to assume that the same things that motivate you will motivate them. But you don’t know for sure, do you?

There is the theory “Share your why and talk about the benefits to you” and others will want some.  Or, “share about the income and what it has done for you”.  In both of these, it is all about you.  You have no clue what is going to appeal to the other person.

You jump right into your story, your heart’s in the right place BUT many back away.  WHY?  Because they feel like you want them to support YOUR goals and they will get little in return.  The good news is that there’s a way to share the business opportunity and be 100% authentic.

There are two types of people in the world:

Those who are motivated by money and titles, and…
Those who are motivated by making a difference in the world.
Almost everyone has both types of motivational styles, but usually one is dominant.

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When “money and titles” motivates, hearing about promotions, bonuses, trips, and other incentives excites them.

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But if they want to “change the world,” they will love stories about how your products improved customer’s lives, the financial freedom experienced by your team members, and how customers and team members have achieved their desires and goals. They love the friendships that are developed and seeing people becoming all they can be.

So, how do you find out which type of person they are?  Get your ASK on!!!  Share AFTER you have asked some questions so you know how to appeal to them.

Ask questions that will reveal what inspires them and how your business can best serve them:

What has been your favorite job and why?
Did they tell you about the job that made a difference in people’s lives? Or did they talk about the fantastic money they made?

What would you do with an extra $500 a month?
If they are clear about what they’d do with $500, they’re likely to be a “money and titles” person. If they’re vague and seem uncomfortable, they are likely to have a “change the world” motivational style.

What is your favorite part about your current job?
This way you can share your business based on how your business can offer them the thing they most enjoy in their current job.

If you could change one thing about your current employment, what would it be?
This let’s you know what their motivation style is and what aspects of your business you should share with them first.

Now it’s time to share the opportunity. If their motivation matches yours, share your own story. If it doesn’t, file some stories in your memory to share about other successful people in your company who are inspired by the same things your recruit is.

Recruiting or finding new team members is all about building relationships.  It is about asking questions to find out their interests, motivational style, and employment situation.  When you spend more time talking about them than about yourself, you will understand what inspires them, and you’ll double your team building efforts.

Have  a ThirtyOne-derful day!