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FINANCIAL EMPOWERMENT MONTHLY - July 2010 Volume 18
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| Greetings! |
Have you thought of starting your own business but abandoned or put off the idea because of fear or uncertainty? With so many advantages of entrepreneurship - flexibility, doing what you are passionate about, being true to your values - maybe now is the time to revisit the idea of being your own boss. Begin to envision your entrepreneurial future as you read our article on what you need to consider before diving in!
Last month we held our first week-long Money & Financial Coaching Training Program. It was a huge success with a full house of entrepreneurial professionals who learned new skills and techniques to help clients develop better relationships with their money. At the end of the week, everyone was fired up and ready to start empowering people with their money decisions! We are now well into the 12 weeks of mentoring and guidance as the trainees launch their practices.
If the training opportunity sounds right for you, we are offering the program again from October 25th - 29th on Salt Spring Island, B.C. See our Career details below.
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Are You Ready to be Your Own Boss? by Karin Mizgala
|  Have you ever thought of starting a business? If so, you're not alone. Over the past 15 years, there has been an over 50% increase in the number of women running their own businesses in Canada.
There are a terrific number of advantages of being an entrepreneur: 1. You are in control - There is no one to report to, you can take vacation when you feel the need (or want), and you can decide what direction you want to take your business in. 2. You can give back to society - As an entrepreneur, you have the opportunity to give back to your community by offering important services and creating wealth and job opportunities for others.
3. You can be true to yourself and your values - You have the power to do what you want and say what you believe, think your own thoughts and live your own life.
Along with advantages, there are a few challenges that entrepreneurs face - especially in the start up phase. To get a business off the ground, entrepreneurs need to be able to multi-task and wear several hats at the same time - web guru, administator, sales and marketing specialist, bookkeeper - which can be stressful and even lead to burn-out. Then of course, there's the worry of financial uncertainty. Without a well-thought through financial plan, the money piece can be daunting and often stops women from taking the entrepreneurial plunge.
So, do you have what it takes to be an entrepreneur? Here are a few things to consider before starting your business:
- What are you passionate about? What activities bring you the most joy? Is there something that you do in your spare time that could be turned into a business?
- Is there a market for your product or service? Think about who your ideal client is, what they need and how you can reach them.
- Can you deliver the product or service profitably? Once your product or service is sold, will you be in the black or red? Will you have enough cash flow to sustain yourself now and have some left over for taxes and savings?
- Do you have the skills and knowledge to run a business? If you've answered "no", don't despair, there are many books, courses and experts to point you in the right direction and to help you get a plan for your business in place. (Check out www.womensentreprise.ca)
- Do you need to invest in the business to get it started? How much start-up capital do you need? Where will you get the funds - from savings? loans? family? business start up grants?
- How will you transition from your current occupation to your new business? Will you quit your current job cold turkey and start your new company or begin working on your new business part time? Can you work from home or do you need an office?
- Do you have your financial house in order? Do you have enough money set aside in case there is no, or negative cash flow during the first few months of operation? Have you determined the amount of money you need to make each month to be financially stable?
Although there is a lot to think about and plan for, entrepreneurship can be one of the most rewarding ways to make money and fulfill your dreams. It takes passion, energy and planning, but knowing that you have created a successful company that is making a difference is certainly something worth considering.
If you need to get your personal financial house in order before you start your business, join us on October 20th to learn the 10 Steps to Better Finances.
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| Upcoming Women's Financial Learning Classes and Events |  7 Mistakes in Salary Negotiations - Find out the 7 mistakes you'll want to avoid during salary negotiations, and learn great tips on how to E.A.R.N. Your Worth™ - Downloadable Audio
Sheila's Debt-Free Challenge - Why spend one more day wondering when you will ever get out of debt? Learn to manage your spending and create a plan to get out and stay out of debt! Classes start Tues. Oct 5th, or dial into our FREE Preview Teleclass on Mon. Sept 20th 7:00-8:00pm PST10 Steps to Better Finances - Distill the secrets of good finances into 10 simple steps. If you prefer small steps to big leaps and are looking for something accessible and memorable, this program is for you. - Wed. Oct 20th 6:30-9:00pm PSTInvesting 101 - Discover how investing your money can help you reach savings goals faster, and how to successfully work with an investment advisor. If you're curious about investing or wanting to better understand/manage your current investments, this program is for you. Teleclasses start Wed. Nov 3rdSmart Money Essentials - Join our Weekend Intensive on Nov 20th & 21st in Vancouver, or start anytime with our Home Study program. If you're tired of worrying about your finances and ready to take control, this program is for you. To see if the Smart Money Essentials program is for you, dial into our FREE Preview Teleclass on Thurs. Oct 14th 6:30-7:30pm PSTCareers - Are you passionate about helping others to manage and make the most of their money? Are you a self-directed entrepreneur who wants to work independently but not alone? If so, we want to hear from you! Train to be an Associate of LifeDesign FinancialŠ as a Fee-only Financial Coach or a Money Matters Money Coach in a 5-day intensive training program from October 25th - 29th, 2010 on Salt Spring Island, followed by 3 months of experiential mentorship as you successfully launch your practice with our leadership and support.
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It's All About Connections
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 Welcome to our section on exciting events and resources to help women connect with each other and to the opportunities we have to take a leadership role in our lives and in our communities.
Personal Finances for Entrepreneurs - Tues. Sept 21, 7-9 pm Register at Enterprising Moms Network Inc. Sheila and Karin will be guest speakers.
Transitioning Through Divorce - Thurs. Sept 23, 7-9pm Contact info@sheilakeet.com to register. Karin will be one of the speakers.
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Feel free to call us if we can help in any way or if you would like to discuss which one of our programs would best suit your needs. We'd love to hear from you!
Cheers,
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Karin and Sheila
Karin Mizgala 604-880-4143
Sheila Walkington 604-716-5375 |
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