Tuesday, October 29, 2019

Women on the move (Soledad Tanner)

Amazing video presented this morning at the “2019 Women on the Move” award ceremony Luncheon at the Hilton Americas Houston. It was truly an incredible honor to be among such an accomplished group of “dangerous women”. Video filmed by Lisa Malosky and Don Friedell of Lisa Malosky Productions.

Thank you, Graciela Saenz, for nominating me, Cathy Maris for your heartfelt letter of recommendation and Dr. Cindy Childress to supporting me with your talented ghost-writing skills. To all that were there to celebrate this special moment with me: Dr. Dorothy Caram, Helen Cavazos, Graciela Saenz, Lenora Sorola Pohlman, Sandra Smith-Cooper, Angelica Noyola, Angelica Vasquez, Arcy Munoz, and of course my Gabriel Lopez & mi mother Yolanda Cedeno that flew from Ecuador to be here today. 

Congratulations to all the 2019 Women on the Move and Rising Star: Brenda Hellyer, Jennifer Kirk, Jenny Dial Creech, Charlene Jackson, Pamela Anne Quiroz, Kathryn McNeil, Rhonda Smith, Rebeca Aizpuru Huddle, Paula McCann Harris, and our Rising Star: Victoria Chen.

 Thank you to all the people that worked tireless to make this a reality: Paula Mendoza, Ileana Trevino, Carrie Potter, Sheila Manning, Sara Wise, Frances Castaneda Dyess, Nory Angel, Wendy Dawson, Dr. Melanie Johnson, Beatriz Garza, Liz Cloud, Caroline “Baker” Hurley, Debi Wallace - Barfield Photography and the support team from Possible mission: Ana Fernandez & Sylvia Perez

Soledad Tanner, MIB

Cómo hacer que tu negocio sobreviva una crisis económica


Source: https://www.entrepreneur.com/article/283072

Sobrevivir a tiempos difíciles requiere de mucha fortaleza, pero más importante, necesita de habilidad y precisión. Aquí hay algunos consejos te ayudarán a enfrentar las "vacas flacas".

Toby Nwazor
CONTRIBUTOR
CEO, Millionaire Writers Agency

Se dice que un buen marino no es aquel que sabe navegar las aguas calmas, sino el que sabe sortear los mares más turbulentos. Esto es tan cierto en la vida como en los negocios. Un emprendedor es alguien que organiza, maneja y asume riesgos en un negocio. Pero, ¿cómo puede sobrevivir un emprendedor en una economía mundial tan variable? ¿Debe apretar las riendas, cerrar la cartera o debe hacer lo necesario y correr riesgos? Y si debe correr riesgos, ¿de qué tipo deben ser? ¿Cuándo es demasiado? 

1. Involucra a tu equipo en el proceso

¿Has escuchado que la miseria se tolera mejor cuando no estás solo? Si una persona debe cargar con el peso de una economía en crisis en solitario, es más probable que se desespere y renuncie.

Pídele a tu equipo que te ayude a ver en qué pueden recortar gastos y qué ahorros pueden hacer en tu operación diaria. Involucrar a tus empleados es crucial. Necesitan estar muy motivados para entender que es tiempo de hacer algunos sacrificios. Muchas veces estarán contentos de ayudar y ser parte del proceso. 

2. Corta todos los gastos pequeños y algunos de los grandes

A veces lo primero que se te ocurre en tiempos de crisis es bajar salarios y despedir personal, pero a veces cambios pequeños sumados pueden hacer una gran diferencia. Por eso el punto anterior es tan importante.

¿Cuáles son los gastos pequeños que tiene tu negocio? Siempre hay costos que tu empresa puede reducir para mantenerse a flote. Puede ser la cuenta de luz o papelería en la oficina. Un manejo eficiente de tus instalaciones puede ayudarte mucho.

Por ejemplo, ahorrarás mucho si usas el aire acondicionado con sabiduría y cuidas tu equipo limpiando los filtros con regularidad. 

3. No cortes el presupuesto de marketing
Una de las razones por las que no debes reducir lo que inviertes en mercadeo es porque en tiempos de crisis es lo que todo mundo hace, incluyendo tu competencia. De hecho, te recomiendo que aumentes solo un poco lo que gastas en publicidad durante los tiempos difíciles. Esto es porque necesitas mantenerte competitivo y visible para seguir a flote a largo plazo.

Por ejemplo, puede que tengas que invertir para mejorar tu sitio web, lo que es un gasto razonable para mantener tu operación efectiva.

¡Cuando hay pocos clientes en el mercado, debes pelar muy duro para mantener a los que ya tienes! Además, si tus competidores dejan de anunciarse, tu inversión será mucho más satisfactoria, pues en un mercado menos ocupado es más fácil que te noten. Es muy posible que el marketing sea una de las claves para sobrevivir una recesión. 

4. Invierte más, diversifica tu producto y tu base de clientes


Hay oportunidades que surgen en momentos de crisis económicas, solo debes saber en dónde buscar. Las recesiones son a veces los mejores momentos para correr la clase de riesgos que te hacen un emprendedor de éxito.

Puede ser el momento de expandir tu portafolio de negocios e invertir en áreas que presentan oportunidad. ¿Por qué? Las crisis no duran para siempre. Una vez que las cosas mejoren te dará gusto haber comprado cuando las demás personas vendían.

Más allá de eso, busca manera de adaptar o incrementar el encanto de tus productos. De esta manera, no solo estarás manteniendo y creciendo tu negocio, podrías estarte adaptando a mercados más atractivos. 

5. Ofrece un servicio a clientes de lujo

La última cosa que quieres que te pase durante las crisis es perder clientes. Tus consumidores son la sangre de tu negocio durante una crisis económica y debes pelear para mantenerlo. Este es el momento de volverte una estrella del manejo de las peticiones y entregas de tus usuarios. Es el tiempo de ser flexible y confiable. 

6. Invierte en los recursos correctos

En una recesión necesitas toda la ayuda que puedas obtener e invertir en la tecnología adecuada puede ayudar a tu equipo a trabajar de manera más eficiente y satisfacer a tus clientes de manera más rápida. Incluso puedes reducir gastos si eres uno de esos emprendedores que utilice apps para mejorar tu productividad.

En conclusión, recuerda lo que dijo Robert Schuller: “Los tiempos duros no son para siempre, pero las personas fuertes sí”. Estos tips te ayudarán mucho a mantenerte firme en momentos de crisis.

Friday, October 25, 2019

Quiz: Do you have what it takes to be your own boss?

Source: https://tinyurl.com/yxmax82b

Written by: Maxym Martineau October 24, 2019

This post was originally published on May 15, 2018, and was updated on Oct. 24, 2019.

At one point or another, we’ve probably all dreamed about being our own boss. You know, calling the shots instead of following orders, or being the innovator behind the next big idea.

No matter what pushes you to abandon your current nine-to-five — whether it be the sixth coffee run of the day or simply lack of fulfillment in your current role — it might be time to seriously contemplate if you’ve got what it takes to be your own boss.

But becoming your own boss doesn’t mean leading an easy work life — you’re still accountable for, you know, work. And yes, while you might be able to accomplish some of this from the comfort of your pajamas while sipping a latte, there are a number of things you’ll need to consider before making the leap into entrepreneurship.

If you’ve ever laid awake at night, wondering whether or not you have what it takes to be your own boss, then we’ve got just the quiz for you.

Answer these 10 questions to see if you’re ready mentally, financially and emotionally to be your own boss. Then, keep reading to see how we can help you turn your dreams into a reality.

Do you have what it takes to be your own boss?

So, what did you find out? Are you ready to make the big leap, still a little uncertain, or maybe a tad too unprepared? Let’s talk about a few key considerations to make sure you’ve got all your ducks in a row before you say goodbye to your day job.
Workload expectations


If you think stepping out to be your own boss means sleeping in until 10 a.m., taking a leisurely, two-hour lunch at noon, and cutting out by 4 p.m., you might be underestimating the workload that comes with managing your own business. Like, really underestimating.

Just because you don’t have a boss anymore doesn’t mean you don’t have to answer to someone — whether that be you or your new clients.

Yes, there’s a certain level of glamor associated with working in your PJs. And certainly if you can, go for it. But also expect to pull some late nights, weekends and odd shifts that are totally outside of the nine-to-five norm. In all reality, there’s a good chance you’ll end up working more as you bring your startup to fruition.

Being your own boss means working more for your passions. And then crashing hard at the end of the day and starting all over again the next morning. PJs and coffee a must.

The boss mentality

Photo: perzonseo / CC BY

Part of becoming your own boss means you get to set the direction. You’re in charge of the innovation, the ideas, the risk taking. Even with all the careful planning in the world, there’s no possible way to foresee every roadblock or sudden shift in direction.

Taking initiative, adapting to change, accepting risks — these are all key components of being an entrepreneur. If any of these things scare you or cause hair-pulling stress, then you might want to rethink your desire to be your own boss.

Now, I’m not saying you have to be calm and collected 24/7. There are bound to be things that stress you out (otherwise, you’re a robot, which is cool). It’s all about how you manage those sudden changes and pick yourself up to keep your idea alive and thriving.

Business planning


Having an idea is only the beginning. Even though your froyo food truck might seem like the best thing since sliced bread, quitting before you even look into the details — like, I dunno, actually buying a food truck, understanding taxes and licenses, startup costs, etc. — is a dangerous decision.

Any business, no matter the size, needs a good business plan.


What kind of business are you going to run? Have you done your market research? Do you know who your target customers will be? What about your legal setup? Marketing? What kind of brand personality are you going to have? And of course, what about the all-important financial factor? Speaking of …

Finances, both personal and biz

When you consider that many businesses fail because they started out with too little in the funding department, it’s easy to see why finances play a big role in your business’s success.

While you don’t need to use personal funds to start your new business, though it might be a good idea, taking a look at how you spend your hard-earned dollars is a good indicator for determining whether or not you’re ready to be your own boss:
  • Just how frugal are you?
  • Do you prefer night outs to padding your bank accounts?
  • Are you aware of how your dollars are spent?
  • Do you use a budget planner or tracker?
  • Do you have enough funds to survive for a while without making a profit?
What kind of trend emerges when you answer these questions? If you’re quick to spend a buck, aren’t exactly sure where your cash is going, and don’t use a budget, then you’ll want to remedy these habits — stat. When it comes to running your own business, understanding where and how your money flows is imperative to success.

Related: Resources for funding a business

As far as actually securing your startup capital goes, you have a number of options:
Self-funding. Maybe you’ve been saving over the years. That’s great!
Investors. Many turn to family and friends with a new business opportunity, but you could also widen your search to incorporate angel investors or form strategic partnerships.
Loans. The Small Business Administration is a great place to start, but there are plenty of loan options to consider.
Crowdfunding. There are a number of crowdfunding platforms to consider, and you just might get the extra dough you need to get started.

Whether you stick to the traditional SMB loan or look at other non-traditional alternatives, funding is an important consideration. If you want to be your own boss, you’ll have to plan for cash flow. You can’t expect to make a buck overnight.

In conclusion


There’s a lot that comes with starting a business, and the key is not to get overwhelmed by the mountain of tasks associated with following your passion.

Take it one day at a time.


Create a checklist and mark off items as you go (because let’s be real, crossing off to-dos is empowering). Start with a name and secure all your social handles, because even if you’re not ready to post or spread the word just yet, protecting your brand is key.

So what are you waiting for? Get out there and be your own boss!

Image by: Oliver Cole on Unsplash

Tuesday, October 8, 2019

Stopping travel and expense 'leakage' before it becomes a big loss


AUTHOR
Robert Freedman@RobertFreedman

Employees typically submit $10,150 a year in reimbursements. Make sure your T&E policy provides tools for reining in unnecessary expenses.


If you haven't reviewed your travel and expense (T&E) policy recently, make doing so a priority because the cost of "leakage" to your company is likely greater than you think, T&E consultant Oren Geshuri said last week in a CFO.com webinar.

As much as 12% of a typical company's operational costs — about $10,150 per employee per year — are T&E related, and about 5% of that is lost to fraud, said Geshuri, director of technology and media services at the Lyndon Group.

It takes companies between 18 and 24 months to detect fraud, and by the time they do, the loss averages about $26,000.


Even separate from fraud, T&E leakage can be costly. About 6% of T&E annually, or about $60,000 for every $1 million in expenses, is out of compliance in some way, often because of duplicated out-of-pocket employee expenses. The typical duplicate reimbursement is about $50.

There are other risks if your T&E policy isn't well thought through: You can end up paying for costs your company doesn't want to pay for, like spousal travel, or losing money when employees keep airline or other travel credits they earn while working.

Review your policy


Geshuri recommends you review your policy once a year, for a number of reasons. One, it gives you a chance to learn what's working and what’s not​ from employees who travel a lot. Is it easy to understand? Is it easy to submit reimbursement requests? Do the policies make sense?

"Once a year, bring in some of your power users, your road warriors, and sit them down and have a conversation," Geshuri said. "How did we do this year? Where were your pain points?"

Geshuri also recommends you use a corporate card program, if you're not already. "There's a common misconception that giving corporate cards out actually loses control or replaces control, but it's quite the opposite," he said. "It’s very well known now that [it] actually helps you funnel spend."

Using a corporate card helps you integrate T&E data, validate costs, and exercise tighter controls, Geshuri said.

Policy essentials

When you sit down to rewrite your policy, make sure it covers the following:

  • Business travel. How far in advance do you want employees to make a reservation? Do you let them book first class if, for example, they need the leg room? If they get a credit, do they keep it or does it go back to the company? Should you pay for TSA pre-check? Have you set a policy on using Airbnb, Lyft, Uber and other app-based options?
  • Corporate cards. Spell out your rules of card use. For new employees, have a probation period during which they're subject to a lower limit.
  • Contingency planning. Think through what you want employees to do when emergencies or other unforeseen events arise while they're traveling for work. What should you require them to do if you alert them to an emergency they might not be aware of when they reach their destination?
  • Personal issues. How do you treat travel when an employee's spouse or partner accompanies them, or when they add personal travel to their work travel?

Administrative guidelines. Do you want receipts included for expenses under $75? That's the threshold set by the IRS. How soon after travel do you expect reimbursements to be submitted?


Reduce ambiguity

When revising your policy, make sure it includes or addresses these essential elements: a statement of purpose, company expectations and policy compliance, areas of ambiguity and key subject areas. These subject areas include travel, travel-related expenses, accommodations, and food and entertainment.

Also, make sure to check the language you're using. Geshuri recommends you keep the language simple, written at about a fifth-grade reading level, to reduce the risk employees don't understand it. "Don't let a lawyer write this," he said. "It should be a cross functional effort: HR, procurement" and other executives.

Be careful to use the same language in your policy that you use in your expense reporting system, Geshuri said. If your reporting system categorizes employee meals in 10 ways, use those same 10 categories in your policy.


"You can't manage your bottom line if you don't know where your money is going," he said. "Employee initiated spend you can’t see until after it's spent." That makes a strong T&E
policy the only way to govern this big part of your operating costs before you incur them.

Deepak Chopra: Your bad money habits could be hurting your health

Source: https://tinyurl.com/y6tvhzgg


 

Why financial wellness is important to your health, according to Deepak Chopra

If you’re worrying about money, you’re not alone. Finances are often cited as the No. 1 cause of stress.

Yet, that anxiety may be doing more than keeping you up at night. It is also likely affecting your overall well-being.

“If you’re stressed about your finances, of course that’s going to cause your blood pressure to go up and put you at risk for so many diseases,” said health and wellness guru Deepak Chopra, co-founder of The Chopra Center for Wellbeing and founder of The Chopra Foundation.

A number of illnesses — such as migraines, digestive problems and heart disease — have been associated with stress.

People who are financially secure spend money on experiences, not necessarily on products.

The good news is that there are things you can do — both with your finances and to get your stress under control, according to Chopra, a New York Times best-selling author whose books include “Perfect Health” and his latest, “Metahuman: Unleashing Your Infinite Potential.”
Live within your means

Americans owe more than $4 trillion in consumer debt as of July 2019, according to the Federal Reserve.

The use of credit cards is also rising among young adults — 52% of those in their 20s now have credit cards, compared to 41% in 2012, data from the New York Fed show.

However, to be financially well, you should live within your means, Chopra said.

Those who are financially secure “usually don’t spend money that they haven’t earned, to buy things that they don’t need, to impress people that they don’t like,” he said.




Save money

While every financial expert advises saving money, including for emergencies and retirement, it may be easier said than done.

In fact, 28% of Americans have no emergency savings, a July survey from personal financial website Bankrate.com found.

When it comes to retirement, 26% of non-retirees say they have nothing saved, according to the Fed.

However, saving is crucial to your financial health.

“I have also seen in my life that in cultures where people save 10% of their monthly salary and put it in reasonably low-risk investments, in the long term they do much better,” Chopra said.

Protect yourself

Financial security is more than just money in the bank or in investments. It also means protecting yourself with insurance in case you are disabled or get sick, Chopra said.

You may get health insurance through your employer or you can purchase it through the health-care exchanges made available through the Affordable Care Act.

Disability insurance is also important: One in 4 adults will become disabled at some point before they reach retirement age, according to the Social Security Administration. There are both short- and long-term plans, which may also be offered through your employer.

If you are buying any insurance on your own, be sure to do your homework and shop around for the best plans that work for you.

Spend on experiences

Being financially healthy doesn’t mean you can’t spend money.

However, Chopra suggests laying out cash on things like restaurants and vacations, rather than on physical objects.

“People who are financially secure spend money on experiences, not necessarily on products … particularly experiences that enhance your social well-being and physical well-being,” he said.

Meditate

The best way to address your stress is to meditate, according to Chopra.

It decreases blood pressure, hypertension and insomnia — as well as reduces the production of stress hormones, like adrenaline and cortisol, he notes.


Deepak Chopra leads a meditation in Telluride, Colorado.
Courtesy: Deepak Chopra

Chopra has also advised to stop multitasking. Instead, focus on one thing at a time.

If you find you are starting to go down the stress rabbit hole, then stop what you are doing, take a few deep breaths, observe the sensations in your body and smile, and then proceed with awareness and compassion, he wrote on The Chopra Center website.

Increase joy

By increasing your joy, you’ll be less likely to get caught up in any of the ups and downs of the stock market, Chopra said.

To do that, there are a few things in particular you should focus on: pay attention to people, show appreciation and tell others you care about them.

“That’s the fastest way to be happy — to make other people happy,” he said.

Wednesday, October 2, 2019

New report charts economic impact of Hispanic Americans


The total economic output of Latinos in the United States was $2.3 trillion in 2017, up from $2.1 trillion, according to a new report. Sol Trujillo of Latino Donor Collaborative joins Morning Joe to discuss.