No Limits Ladies.com

The Recession – A Perfect Time To Build A Business

2009-03-17T21:43:08Z

Last week, my publisher Champagne Books generously offered my latest release Invisible as a free download during Read An eBook Week. Despite it only being for the week, it was a risky move. How many people would BUY a book when they could get it for free? Or was it risky? It is the recession. Yes, romance novel sales are still strong (it is an inexpensive indulgence) but those are sales for well known authors. I’m not well known. Readers are less likely to gamble their hard saved money on an unknown author. So it was less of a risk because we had less sales to possibly lose. Combine that with readers having more time and less money and a free offer becomes even more appealing. The results were blogger coverage and a staggering amount of downloads. When the economy recovers (maybe in time for my next full length release in 2010?), I’ll have a group of readers familiar with my writing. They will no longer be taking a chance with their money. They’ll know they will get a great read. AND I’m seeing increased sales. I have a strong enough base for word of mouth to start working. It looks like I will sell more of this second novel than I did with the first. All by giving it away. That’s why NOW is the best time to build your business or launch your product. Sampling (recommended with any new product) will make more of an impact. Consumers are receptive to new ideas. They are out of their comfort zone. This is your chance to put them back in yours. Don’t wait for the economy to recover. That’s when your competition will come out of hiding. TODAY is the day!

Treating Yourself To A Mini-Vacation

2009-03-03T15:54:11Z

I am naturally an optimistic person but lately, I’ve had a series of ‘failures’ batter my self esteem. Yesterday, I was feeling broken down. I was having a hard time getting motivated. I couldn’t dig up the positive energy needed to sell, sell, sell. I had a pile of work to do, my list growing longer by the minute. So what did I do? I went on a mini-vacation. I spent an evening in bed, under the covers, reading a treasured romance novel, one I’ve read a hundred times before, a guaranteed good read. I sipped hot chocolate and lost myself in the book. This morning, I feel wealthy. I’ve had a taste of what I’m working towards. My mind is clear and spinning with ideas. Problems I thought were insurmountable now have possible solutions (some solutions may be a little crazy and need fine-tuning). I can not only cope with the day but excel. Of course, I couldn’t escape my problems like this all the time. That would make them grow until they were out of control. But when the strain and stress gets too much, a mini-vacation gives the brain a rest. Other mini-vacations include bubble baths, getting sucked into a good movie, going to the putting green and whacking a few balls, simply going to http://www.jokes.com/ and laughing at the joke of the day.

Ethics And Personal Finance

2009-02-24T14:27:06Z

There was lotto fever in my city last week. With the jackpot, everyone was buying tickets. There were work pools and group buys. My hubby’s coworker wanted to go in with him on some tickets (a smart move as he was buying quite a few tickets and she only paid for one). When he bought the tickets, she asked him “How will I know you won’t skip town if you win?” My hubby laughed, thinking she was joking. She wasn’t. And the reason she asked the question was because she would be seriously tempted to claim the entire prize for herself if she won. The hubby and I don’t play that way. You may think it is because we now have ‘enough’ but no, we’ve never played that way. You see, when I was 12 years old, I was a kindergarten helper. I’d help the teacher with the young kids during recess and lunch hour. Every year, parents would donate their used holiday cards so kids could do arts and crafts with them (collages and such). My job, one recess, was to separate the front (with the picture) from the back (with people’s signatures and personal messages). I was a horse freak and there was this one card with a horse on it. I wanted that card. Badly. Looking back, I should have asked to have that card. It was a used card, for goodness sakes! But then, I was afraid the teacher would say no. And I REALLY wanted that card. So I stole it. I hid it in my jacket, took it home, and kept it under my bed. For years, the card was there, a constant symbol of the bad, bad thing I had done. I finally destroyed it, hoping the guilt would leave with it. It didn’t. To this day, I feel guilty. I learned a lasting lesson with that used card. Nothing, nothing in life is worth compromising your morals for. If you believe stealing is wrong, a million dollars won’t make that guilt go away. BTW… the hubby will never buy a lotto ticket with that coworker again and he will think twice about working with her on projects.

Road Rules by Andrew J. Sherman

2009-01-29T02:25:23Z

I read this book at exactly the right time. You see after the massive layoffs on Monday with some friends and my hubby's coworkers getting the axe, I was grabbling with the whole 'should I be taking a job from someone else? Do I need this more than someone else?' dilemma. There was also a charity auction with advertising up for grabs. There were two package worth $400 each. My max bids were $100 (because I already allocated my advertising dollars). My winning bids were $61 and $66 each. Yes, bargain basement prices but this was benefiting a charitable cause. I felt guilty. Then I read the chapter on sharing the road. "Why can't we acknowledge the fairness of toll booths, when we must stop for a minute and pay a small price for maintaining the cost of a road? Where are the toll booths in your life? Did you slow down and make your contribution? Or did you try to speed through it without paying to avoid a two-dollar toll only to wind up with a two-hundred-dollar ticket? And did you have a kind word for the toll booth operators, who suffers through one of the most boring jobs on the planet on a daily basis?" I could have simply paid the winning bid. That was the expectation. But part of the responsibility of having a great job in a terrible economy is helping to support services that others no longer can. Everyone knew the advertising was a deal. They simply didn't have the money to pay for it. So I paid more. More than the winning bids. More than my max bids. I'm hoping the extra will help the person the auction is fundraising for. I'm also hoping that the increased bids will give the donators a warm fuzzy (the feeling you get when you snuggle into your favorite fuzzy sweater) about giving and they'll do it again. In addition to this, I had a talk with my contract headhunter. He was bubbling over with gratitude about me getting this contract gig. He's on commission. If he doesn't place people, he doesn't get paid. And the pickings are very, very slim. The only reason I landed this job is because I'd done some work for the company before. The competition was that fierce. Road Rules is not a business specific book. It is a life book. The lessons in it won't be new but maybe, like me, you need reminding.

Options For Exiting Your Business

2009-01-22T01:38:27Z

Talking with serial entrepreneurs, all have the same strategy. They go into a business knowing when and how they'll get out. After all, we have to exit our businesses some time 'cause no one lives forever. When I first opened John M. Leonetti's book Exiting Your Business, Protecting Your Wealth, I thought it was about selling a business. That is the method I and most entrepreneurs are most familiar with. There are actually 5, yes 5 major methods of business exit. They are 1) Selling The Business This is the one we are all familiar with. The owner gives up control, ownership, in exchange for dollars. 2) Private Equity Group Recapitalizations Private Equity is hurting right now but in good times, this is an exchange of cash for ownership. As private equity firms aren't interested in running businesses, often the owner stays on to continue to manage and grow the business. 3) Employee Stock Ownership Plans This is a 'sale' of the company to the company's retirement plan. Again, the owner usually stays on to manage the business. 4) Management Buyouts Another type of sale, this time to existing management. The challenge with this option is that management usually doesn't have the cash to pay for ownership outright. This means a gradual receipt of cash. 5) Gifting Exactly how it sounds, the giving of ownership to family or charities. There is no cash given to the owner. For this reason, gifting is usually done along with one of the other options. Of course, this is the simplified view. Leonetti explains when and why certain options are to be preferred, depending on the situation, the business, the owner's personality and other factors. There are pro's and con's with each option so owners should be aware of all five and even within the five, there are different techniques owners can utilize. Why put so much work into your exit strategy? Leonetti estimates that 85% of owner-operated business owners only have ONE chance at a business exit. ONE. Ya gotta get it right.

From Investing To Gambling

2009-01-05T12:00:00Z

I was talking to a loved one on the weekend about investing. He has a friend who had a solid investment plan. He stuck to that plan for the past five or so years and did well. Then the stock market tanked. And tanked. And tanked. Yes, the market going down was in his plan but he forgot that fact. He panicked. He sold. He tried to make up losses by speculating. He did wild and crazy things because he was stressed out and worried. He lost money. Big time. He's at the point of bankruptcy. Honestly, this is the reason I have a financial advisor. I can draft my own financial plan. I can figure out what to buy and sell. But I can't seem to control my own emotions. I need a rational person to bring me back to my plan, to remind me that the downturns are built into it, that this too shall pass. Because if I don't, I start to trade on emotion and that ain't investing, it is gambling.

2009 – The Year Of Change

2008-12-31T12:00:00Z

I'm going a little media crazy. Every channel on tv is talking about 2008, every blog post seems focused on the past. I don't care about 2008. Why? Because I'm looking forward to 2009 and I'm liking what I see. What do I see? Change. Now, change, good or bad, is often scary. It means working outside comfort zones, reacting to new situations, testing out new skills. No doubt about it. Change is stressful. But change creates opportunities and I'm thinking we're looking at once in a lifetime opportunities in 2009. Do I know what they are? I have hazy ideas of some but nothing I'd put down in a post. Plus I'm horrible at predictions (especially about which way the stock market will move). That doesn't matter because the impossible task of predicting the future is not as important as recognizing opportunities when they come along. Keeping an eye out for them. Realizing that opportunities are often disguised as disasters (and we will have those in 2009 also, I guarantee it). Adjusting our systems, our resources, so we can run with the opportunities once they present themselves. Being flexible. 2009 is going to be a great year for building wealth.

My Top 5 Investing Lessons From 2008

2008-12-29T12:00:00Z

2008 was a tough year for a lot of us. However, it also taught some valuable lessons. These lessons are only valuable if we remember and learn from them. Here are my top 5 investment lessons learned in 2008… 1) Cash Flow Is King When the market took a dumper, I was still getting paid dividends or distributions on some of my stocks. Although I was pretty much fully invested, I had investment and employment income to take advantage of the bargains in the market. On the other hand, buddies who needed cash had to sell during the lows. Big ouch. 2) Diversification Is Necessary Some of the companies I owned cut or completely eliminated their dividends. That happens. Sometimes out of the blue. But by holding a few companies, I averaged out okay. I had income to pay for expenses (if I needed it) and didn't have to panic. 3) Do My Own Homework My financial advisor talked me into a resource stock. I don't know anything about resource stocks. Being swamped with another project, I asked if the balance sheet was solid and was told yes. A few months later, the resource company got in a serious cash flow shortage. They cut dividends to nothing. I then looked at the balance sheet. It wasn't solid then and it certainly wasn't solid now. A junior jammer investor could have called the dividend cut. It was my own fault for not doing my own research. These are MY investments, MY responsibility. No shortcuts. 4) Once I Hear SEC Investigation, I Should Sell The SEC doesn't take public announcements of investigations lightly. If they announce they are looking into a company, I should sell 'cause it is for darn certain they have a solid case. That happened with one of my stocks and I held on way too long. Finally sold it at a fraction of where it was on the day after the announcement. 5) I Suck At Calling A Bottom Okay, I did know this before but it got pointed out to me once again this year. Every time I thought quality stocks couldn't get cheaper, they did. I don't regret buying in because with each buy, I felt I was getting a bargain, but… jeepers, it made me look like an idiot. There are many, many more, but these are the ones that I feel will add most value to my portfolio going forward.

Frugal Fridays: Use Those Gift Cards

2008-12-26T12:00:00Z

If you exchange presents, odds are… you received a gift card. The myth is that gifts cards are 'as good as cash.' That's baloney. We use cash. Cash doesn't have a declining balance. Cash isn't limited to only one store. 10 – 15% of gift cards are never used. They are either forgotten or lost. Even more gift cards get smacked with an annoying and costly maintenance fee. Maybe your gift card doesn't have one today but are you sure it won't have a maintenance fee tomorrow? Companies change policies all the time. So I propose you use them. Today. Go out to those after Christmas sales and buy something. We got a gift card for a store with a grocery section. We bought canned tomatoes. I kid you not. A pantry full of canned tomatoes. Could I have bought those tomatoes for less elsewhere? Maybe but the card had a stiff maintenance fee so we bought. What if the store isn't one you frequent? Then obviously it is a store the gift giver loves. Get her something classic from there. Something that won't be out of style next Christmas. Then put that in a Ziploc bag or a sealed plastic tote and store it for next Christmas (or a birthday or…). Use them.

The Gift Of Forgetfulness

2008-12-24T12:00:00Z

It has been 4 years since Jennifer Aniston and Brad Pitt broke up. 4 years. That's a long time (especially considering they were only together 7 years). Yet when you think of Jennifer Aniston, what comes to mind? That's right. The break up. And that is her doing. Although she has done other things (including posing almost nude in GQ), the break up remains her favorite interview topic (calling Angelina Jolie 'uncool'). She can't let it go. We all know people like that. I know a thirty year old (plus) who still complains about not getting a cabbage patch doll when she was a kid. She brings it up at every family function. I love her dearly but when she goes on one of her rants, I politely leave the room. It is too painful and sad to watch, knowing that she always has a part of her brain dwelling on this 'injustice'. It is a waste of precious brain space. Now, I'm not saying she should forgive. Although healing, that is a personal decision and maybe, just maybe, the act was unforgivable (Jennifer Aniston clearly thinks the break up was). What I suggest is forgetting, cramming as much 'doing' between you and the act that there is no time or energy for complaining. Ensuring that when people ask what you've been up to, you have so many interesting stories you don't have talk time for something that happened even a year ago. This holiday season, give yourself the gift of forgetfulness. Leave that negativity behind you in 2008 when the calendar flips over. 2009 is going to be a GREAT year! Photo Taken By Noeluap (Click on link for copyright information)

Holiday Shopping With The Five Love Languages

2008-12-22T12:00:00Z

The holidays seemed to have crept up on quite a few of my buddies. They are, right now, scrambling for gifts. So I thought I would give some more holiday gift ideas, using the five love languages. The five love languages completely changed my relationship with my loved ones. Learning that my sweetly demanding Mom-In-Law was an acts of service person saved our relationship. Knowing that every time she asked me to do something (usually something she could do herself) she was asking me if I loved her, helped me tolerate these additions to my already long to-do list. Words Of Affirmation My hubby is a words of affirmation person. He needs to hear 'I love you' about 30 times a day. It makes him happy. So with my hubby, the gifts aren't as important. However, the card is very, very, very important. He is one of the reasons I send out personal holiday cards. Because he really enjoys receiving cards. (Look at your holiday card list – those are all likely words of affirmation people – invest in those cards because by sending them you're telling them you love them) The more cards he receives, the more loved he feels. I also write something on every single gift. Great gifts for words of affirmation people include books (with your inscription in the front), music (be aware of the lyrics because words people will listen to them closely), and of course, any type of writing. Spend extra time picking out and writing in their cards. Quality Time My big brother is a quality time person. When we all go to my mother's for the holidays, he always organizes a movie night out. That is his thing. All of us doing an event together. Quality time people often suggest going out for dinner instead of a gift exchange. There is no drop off of a gift and running, that will hurt their feelings. Great gifts for quality time people include… well… any experience done together. You can give a gift certificate for dinner, shopping, a movie, but set a date to do this together. It may feel cheesy to invite yourself along to use the gift with them but remember, the true gift is the time together. Receiving Gifts My mom is a receiving gifts person. She is happiest when there is no room underneath the tree. My siblings and I know to buy large gifts and lots of them. The actual gift isn't as important as receiving a gift. Gifts people usually boast about their gifts (an easy way to spot them). If you only have a short time to shop, spend it buying gifts for this group. Great gifts are unusual ones so they can tell everyone they received it (which is basically them telling everyone they are loved). This could be the hottest toy, a present from another country, or something they can wear. Do NOT give gift cards to gifts people. They will feel unloved. Acts Of Service My Mom-in-law is an acts of service person. Instead of asking for presents every year, she asks me to do things. This year, I not only wrapped presents but I bought presents for people on her list. Acts of service people ask you to do things, usually things they can just as easily do themselves. It isn't about the gifts or the cards with acts of service people. It is about the time and effort taken. I'll talk about how it took hours of shopping and trips to multiple stores to find that gift. Acts of service people appreciate home-made. Baked cookies, hand knit scarves, anything that takes time. Physical Touch I'm a physical touch person. I went to a meeting of romance writers and one author gave me a hug. I tell you, I'd do anything for the woman, because in my mind, she told me she cared for me. Physical touch people are usually surrounded by tactile experiences, wood carvings, fluffy sweaters, silk carpets. It isn't politically correct to touch people nowadays so they are starved for it. The best gift for a touch person is… well… a touch. A hand shake in a business environment, a hug in a personal. Other gifts include soft items like sweaters, leather gloves (especially for guys), books with raised title fonts (I LOVE those). Buy with your fingertips. If it feels great, the touch person will likely enjoy it. Remember The best way to tell people you love them is in a language THEY understand.

Frugal Friday: Hostess Gifts That Wow

2008-12-19T12:00:00Z

My momma taught me that when I attend a party, I bring a gift. Always. It doesn't matter if the invite says no gifts (we've all attended a no gifts party and been the only person not bringing a gift, haven't we?). It doesn't matter if the hostess, when asked, says 'oh, just bring your charming self' (that is part of the politeness dance). I ALWAYS bring a gift. The gals from The Shopping Bags had a great show on hostess gifts. Their suggestions? No cut flowers (creates too much work for the hostess) but a potted plant instead (which I would promptly kill) or a bottle of wine (with a corkscrew so no searching required) or home baked cookies. Yes, we've heard those suggestions before. But the fresh idea was… Instead of bringing the hostess present the night of the party, leave one in the mail box or doorstep the next day. Say the hostess burned a lot of candles at the party, leave her replacement candles. If someone spilled wine on the carpet, leave your favorite carpet cleaner. Yeah, clever. I like to do the opposite. I send a flower arrangement the day before. That allows the hostess time to incorporate it into her arrangement.

The Importance Of Editors

2008-12-17T12:00:00Z

I'm in the middle of 3 sets of edits. I'm editing a novella for submission to my publisher, I'm editing a full length novel I just got back from my pre-editor, and I’m completing the 11th full revision of my February release, Invisible (a romance about identity theft). You read that right… 11th. And I have at least 2 more rounds of edits to do before Invisible is published. The thing is… this isn't unusual. For any author. It isn't unusual for New York Times Bestselling authors, folks that write for a living. That is all they do professionally, write. And they require 13 rounds of edits with at least 3 different editors. Why am I telling you this? Because if you read The Toilet Paper Entrepreneur's list of the biggest entrepreneurial mistakes, you'll see proof reading errors come up time and time again. Costly errors on marketing information, on contracts, on lease agreements. If a professional writer needs 3 sets of edits, 13 rounds of edits, you should filter every important document (including business cards or the text on your promo pens or…) you write, read, or sign through at least one other person. Preferably choose the most nitpicky person you know. That anal retentive person who normally drives you up the wall. The more important the document, the more people you should ask to look at it. A misplaced comma could cost you.

Should I Participate In The Company Potluck?

2008-12-15T12:00:00Z

During the holidays, the hubby's workplace organizes daily snacks. Each day, a couple employees bring in snacks for the group. My hubby, being male and frugal, wondered the very first year if he should participate. The simple answer? Yes. Why You Should Participate This is viewed by management as a team and morale building event. Morale building is usually the domain of management. This is one instance where it is not so take advantage of it. If you want to be promoted into management (or are already in management), you should participate. You SHOULDN'T organize it though. Especially if you're female. Organizing potlucks or food type events is traditionally an executive assistant's job. Organize a potluck and you'll find yourself slotted into that category. What To Bring I like to bring in an item that contradicts any negative view held. I'm often seen as a very businesslike person, sometimes cold, always tough, so I bring in something I baked or cooked (my two bite brownies – the recipe at the end of this post). This softens up my image a bit (and it is the holidays, a softer image is acceptable). The hubby is seen as overly frugal so he brings in something bought and higher end (decadent chocolate truffles). Aim for an item in the range everyone else's is in (especially the executives). Too much and you look like you can't handle your own budget, not to mention the company's. Too little and you look like Scrooge. What To Do With Your Item You drop it off to the organizers. That's it. You don't fuss or hover around it. You don't want to give the impression that you have nothing better to do. If coworkers know you're busy and you brought something in anyway, it scores more points. That means, of course, you need a simple item. Something not requiring special preparation or display. That also means disposable everything. You don't want to have to ask for the dishes back. Two Bite Brownies Makes 24 Mini Muffin Cup Servings (I used mini muffin cups because it makes serving easy and looks fancy). 1/2 cup melted butter 1 cup white sugar 2 eggs 1/2 cup all purpose flour 1/3 cup unsweetened cocoa powder 1/4 teaspoon salt (or simply use salted butter) 1 teaspoon vanilla extract 1. Preheat your oven to 350 degrees F (175 degrees C for our Cdn friends). Grease and flour your pans if you're not using non-stick. 2. In a medium bowl, beat together the butter and sugar. Add eggs and mix well. Combine the flour, cocoa, and salt (if you're not using salted butter). Stir that into the sugar and egg mixture. Mix in the vanilla. Spread in the unlined mini muffin cups. 3. Bake for about 15 minutes or until the edges are firm and there are no moist spots in the middle (check your oven, mine bakes in about 7 minutes). Cool, pop out of the cups, and eat, I mean serve. Variations - add nuts if you're going high end. If you want to get all Martha Stewart, place a doily over top and sprinkle with icing sugar to make a design.

Frugal Fridays: Branding Your Office Supplies

2008-12-12T12:00:00Z

I lose pens. I lose a lot of pens. A LOT. I leave them in hotel rooms, in airports, on buses, at contract gigs. All over the world. I used to carry around fancy pens. That got pretty darn expensive. Then, for cost savings, I switched to cheapie pens. Then I got smart. I ordered branded cheapie pens (hotel quality). Buying in volume and looking for sales (I use National Pens http://www.pens.com/pens/ - shop around but if you order from them, ask for Tiffany Gribben-Presley - I don't get any commission for this referral but at least I'll know she'll take good care of you), I was able to get the branded pens for even less money than the non-branded ones. Now, I don't lose pens. I distribute promotional items. (Grinning) They also come in handy when I attend conferences, seminars, booksignings. I contact the organizer and volunteer to supply the pens. Most people will take this free offer. Again, promotion. So don't chain up your pens (are you listening, banks everywhere?). Brand them and let them roam free.