Why Women Should Make Their Own Money

Kim Kiyosaki in her book “Rich Woman” throws out some pretty sobering statistics when it comes to women and money:

 

·   47% of women over the age of 50 are single.

·   50% of marriages end in divorce.

·   In the first year after divorcing, a woman’s standard of living drops an average of 73%.

·   Of the elderly living in poverty, 3 out of 4 are women and 80% of them were not poor when their husbands were alive. 

·   Nearly 7 out of 10 women will live in poverty some time in their lives.  

 

As a landlord, I can attest that this is real life and not just statistics. I have seen my older female tenants struggle alone to make ends meet. They are fearful about their expenses and they are depressed. I always took care of “my ladies” letting rent slide from time to time in order to avoid eviction. But most landlords don’t have this luxury. The mortgage must be paid so out they go.

 

You see a lot of things as a property manager. One 82-year-old widow that was my tenant took her own life because she was depressed over her circumstances. This is real life. All women need to take responsibility for their own financial welfare. If you won’t do it for yourself then do it for you children.

 

At MillionaireMoms.com we are dedicated to helping you understand and feel comfortable with managing and earning money. We promote entrepreneurship because of the flexibility it offers in your real full time job—raising your children.

Go Daddy Insights for Entrepreneurs & Winners

I read this and thought it was worth posting. 

Bob Parsons – Founder of Go Daddy Group (www.GoDaddy.com)

1. Get and stay out of your comfort zone. I believe that not much happens of any significance when we’re in our comfort zone. I hear people say, “But I’m concerned about security.” My response to that is simple: “Security is for cadavers.”

2. Never give up. Almost nothing works the first time it’s attempted. Just because what you’re doing does not seem to be working, doesn’t mean it won’t work. It just means that it might not work the way you’re doing it. If it was easy, everyone would be doing it, and you wouldn’t have an opportunity.

3. When you’re ready to quit, you’re closer than you think. There’s an old Chinese saying that I just love, and I believe it is so true. It goes like this: “The temptation to quit will be greatest just before you are about to succeed.”

4. With regard to whatever worries you, not only accept the worst thing that could happen, but make it a point to quantify what the worst thing could be. Very seldom will the worst consequence be anywhere near as bad as a cloud of “undefined consequences.” My father would tell me early on, when I was struggling and losing my shirt trying to get Parsons Technology going, “Well, Robert, if it doesn’t work, they can’t eat you.”

5. Focus on what you want to have happen. Remember that old saying, “As you think, so shall you be.”

6. Take things a day at a time. No matter how difficult your situation is, you can get through it if you don’t look too far into the future, and focus on the present moment. You can get through anything one day at a time.

7. Always be moving forward. Never stop investing. Never stop improving. Never stop doing something new. The moment you stop improving your organization, it starts to die. Make it your goal to be better each and every day, in some small way. Remember the Japanese concept of Kaizen. Small daily improvements eventually result in huge advantages.

8. Be quick to decide. Remember what the Union Civil War general, Tecumseh Sherman said: “A good plan violently executed today is far and away better than a perfect plan tomorrow.”

9. Measure everything of significance. I swear this is true. Anything that is measured and watched, improves.

10. Anything that is not managed will deteriorate. If you want to uncover problems you don’t know about, take a few moments and look closely at the areas you haven’t examined for a while. I guarantee you problems will be there.

11. Pay attention to your competitors, but pay more attention to what you’re doing. When you look at your competitors, remember that everything looks perfect at a distance. Even the planet Earth, if you get far enough into space, looks like a peaceful place.

12. Never let anybody push you around. In our society, with our laws and even playing field, you have just as much right to what you’re doing as anyone else, provided that what you’re doing is legal.

13. Never expect life to be fair. Life isn’t fair. You make your own breaks. You’ll be doing good if the only meaning fair has to you, is something that you pay when you get on a bus (i.e., fare).

14. Solve your own problems. You’ll find that by coming up with your own solutions, you’ll develop a competitive edge. Masura Ibuka, the co-founder of SONY, said it best: “You never succeed in technology, business, or anything by following the others.” There’s also an old Asian saying that I remind myself of frequently. It goes like this: “A wise man keeps his own counsel.”

15. Don’t take yourself too seriously. Lighten up. Often, at least half of what we accomplish is due to luck. None of us are in control as much as we like to think we are.

16. There’s always a reason to smile. Find it. After all, you’re really lucky just to be alive. Life is short. More and more, I agree with my little brother. He always reminds me: “We’re not here for a long time; we’re here for a good time.”

Mom Entrepreneurs Are Like Sharks?

Have you ever wondered if you were an animal what type of animal you’d be? OK, maybe not but I have after observing a man with a dog that just seemed to have his essence. You’ve seen people who sorta ”go” with their animals. Here’s another couple of random questions: ”What would you name yourself if you could have picked your name?” ”What grade do you think your future son or daughter in law is in right now?” These are questions I have developed to zen myself in stressful situations (like the 35 minute wait at the post office yesterday). Read my post on happiness to gather more information on this subject. I have satisfactorily answered these riveting questions for myself. If you have any interesting or humorous ones to share by all means post it. We could all use a few more mental mini-vacations! 

My youngest sister came over last night for an impromptu visit. She unsolicited offered an answer to the “What kind of animal” question. It turns out I’d be considered a marine vertebrate (a/k/a “shark”).

She walked in the door with a bottle of wine. I shouted out, “Party is in the laundry room!” as I was folding clothes.  I am trained like Pavlov’s dog to the dryer. If I hear it beep I will race from wherever I am to get those clothes out and folded/hung. I don’t iron so its our clothes only hope of being presentable. Afterwards, she watched me feed the kids, answer questions about homework, discipline my 5 year old for walking on the coffee table barefoot. Besides being dangerous how do you explain footprints on a newly polished coffee table? I let the housekeeper go in an effort to force myself to train 3 boys how to keep a house. I created the tagline ”Team Bone” for ourselves to help build camaraderie for moments like this weekend when all five of us went nuts cleaning together. We scrubbed walls, toilets, the dog. Anything that was dirty got handled.

It was a typical night at our house-lots of activity. My husband is out of town so I had to handle it all. We normally ”divide and conquer” especially if I have a guest over. I started showing her various business projects I am working on one of which required a tv.  We went into my bedroom and she noted I was painting it and asked “Why?” I pointed to the nasty booger stain on the wall (Why use a tissue when you can use your mom’s bedroom wall?) and to the hole in the wall where the doorknob was smashed into the drywall after a particularly energetic burst of “Chase and kill your brother” spilled over into my room. The booger stain on the wall (which is gone now I promise) did it for my sister…she had a mouthful of red wine that darn near came out of her nose. She managed to spit it into the glass before rolling on the bed in peels of laughter. FYI and fair warning: I have a talent for making people shoot liquids out their face. In fact, I used to make my younger brother blow milk out his nose at least once a week at dinner with my stories. The Irish are known for their storytelling abilities. To this day he won’t drink milk around me. It was then that she said, “You know your like a shark. You are constantly moving.”  I am constantly moving. I wasn’t sure I wanted to fall into the shark category as they don’t conjure up a warm and fuzzy, do they? I’ve done my best not to encounter one since Jaws worked its psychological magic of keeping all kids born in the late 60’s and 70’s out of ocean water. However, there are some similarities between sharks and mompreneurs. They are constantly moving and so are we. They bounce on opportunity when presented and so do we. They will rip you to shreds if you threaten their young and so will we! According to Wikipedia, sharks are rarely observed mating…perhaps another similarity? lol! Of course, I like to think we are also like a warm puppy….you can read my earlier post on that one!

Mompreneurs Are You a Perfect 10?

Tonight after dinner I was talking with Alex, my middle son. He is such a doll. He is insightful, intelligent and interesting. The kind of person who even if I hadn’t given birth to him I would choose to hang out with. I asked him “the question” while we were chatting. What is the question you wonder? Well, this question will give you immediate insight into how you stack up in virtually any and every aspect of your life—if you are brave enough to ask it! Are you ready? Are you sure? And to be fair I am going to commit to sharing the answers I receive unedited by my entire family. 

Without further ado, the question is: On a scale of 1-10 (one being horrible and ten being fantastic) how am I doing as your _______ (fill in the blank: mom, wife, friend, daughter, sibling, service provider, supplier…you get the idea).  I have found no other question that cuts to the chase like this one. If you get an answer you don’t like then you ask, “Specifically, what action can I take to make the score a “10”?” You will gain clarity like never before.

Ok, to keep my end of the bargain-here is what happened when I asked the question.  First, I asked Alex how I was doing as a mom? He said “22!” I said, “Why thanks!” I then asked if there was anything I could do to be a better mom. He suggested that perhaps I seek him out to play? He said kids always think their parents are busy and don’t want to disturb them so if I can play I should come on out and do it. I told him that was interesting because many times I could play but did not because I did not want to interrupt whatever he was involved in. See, I learned a valuable nugget there. Next up was my youngest, Ethan. He broke out into a great big smile and said “10!” I knew I’d score big with him. My husband was next. We have been together twenty years.  I asked (on a scale of 1-10) how I was doing this week as his wife? He looked me up and down suspiciously as if he was being trapped into a corner-you know the same look you get when you ask, “Do I look fat in these jeans?” question. His answer was, “This week? “10”. I decided to let that convo end there. My oldest, Griffin, said, “10” in a fairly flat voice. I asked “Why  10?” He said, “So I can stay up longer.” He is always the jokester. Then he said, “Seriously, you’re the best mom ever.” I said “Thanks and Alex (who was sitting next to him playing a video game) gave me a 22.” To which he replied, “Suck up!” So that’s my home life. I have asked those questions before and as I mom I always a high score.  I don’t always add up in the wife department but asking these questions let me know what I need to work on.  

The question works especially well and can be ultra insightful when asked in a business context. Ask your customers. Ask your vendors. Ask your partners. The answers may surprise you! Be sure to report back in with your findings!

The Middle of Nowhere

“Mom, what does the middle of nowhere look like?” my five-year-old asked me the other day. The question made me laugh. I answered, “It depends on the person and where they are.”

 

I thought it was a good metaphor for the feeling s of doubt we all experience from time to time in any worthwhile activity. My “middle of nowhere” is where I am at today. I am on my chosen path and I know where I want to end up. I have a good road map in hand of what I think it takes to be successful. I am marching full steam ahead. 

 

However, every once in awhile that sneaky little devil called “doubt” dances into my head. It happens in those moments when I take my eye off the goal. “Where the heck am I? I’m in the middle of nowhere!” my mind thinks. 

 

Work, work, work with no end in sight and no promise of success. That can be intimidating to a mom with three kids who’s trying really hard to combine passion with income and a flexible schedule. I am a big believer in having it all, but still every once in awhile doubt sneaks in and I feel like I am in “the middle of nowhere”. I realize it is my inner chicken speaking so I let the thought pass right on through and just dive back in Before you know it, the feeling fades. Another milestone is achieved. 

 

You are not alone. It’s okay to be afraid sometimes, and to have doubt. It’s human nature. It’s what you choose to do—or not do—with that fear that ultimately separates the successful from the not so successful. The next time you feel you are in your version of the “middle of nowhere”, take heart and know you are not alone. The moms at www.millionairemoms.com understand. We all have doubts from time to time, and we are here to support you! 

Happiness Is A Warm Puppy

Remember the Charlie Brown happiness book? You know, the one with Lucy on the front hugging Snoopy? I love that book. I still own it actually. The book  summarizes life and what it takes to be happy. In case you don’t remember this little jewel here is a few ”happiness” entries:

Happiness is an “A” on your spelling test. Happiness is finding someone you like at your front door. Happiness is sleeping in your own bed. Happiness is getting together with friends. Happiness is climbing a tree (little known Joyce fact: I am the 1974 tree climbing champion of 8 Joseph Ave). Happiness is lots of birthday candles (OK, I’m starting to have a love/hate thing with this one). Happiness is one thing to one person and another thing to another person. Why don’t you take a moment and think about what simple things make you truly happy? Not happy? Hug a warm puppy like the book says. I sometimes think we over complicate things when its really the simple stuff in life that brings lasting joy.

Marci Shimoff has a great book out on happiness called “Happy For No Reason”. She studied happiness in great detail in order to write her book. Apparently, we all have happy set points:

50% is genetic, 10% is your circumstances and 40% of your habit of thoughts and behavior.

Marci asked her father what his best advice is and he said, “Honey, just be happy.” We can choose our reactions to life’s circumstances. It boils down to focus. I have worked diligently on this for years. I used to be really impatient. My mom says I have one speed: fast! If I had to deal with slow people I would feel my blood boiling. These days I control my reaction. I now think, “These people were put here to be slow in front of me for a reason. I wonder what it is?” Or, I use their slowness as a five minute little mini-vacation for myself. The mental shift helps me cope and keeps me happy. Again, its focus.

Albert Schweitzer, 1952 Nobel Peace Prize winner for his “reverence for life” said, “Happiness is the key to success.” I agree with him. If you are not happy then what’s the point? Spend the time necessary to assess where you are at. There are the day to day annoyances like driving behind a slow poke and then there are the bigger choices we make that might need realignment. Where do you stand? It will pay off in increased health, longevity, relationships and success if you proactively correct what might be wrong. As we mature we sometimes realize we went down the wrong path that no longer works for us. This can lead to the need for drastic actions to correct the situation which is uncomfortable and frankly, scary sometimes. In the end though, if you are brave  and committed to living your ideal life you will risk the actions necessary. Its not always easy but in the end its the right thing to do. Life is too short to live it half way!