Financial Planning

4 Costly Investing Mistakes You Must Avoid

You may start thinking about investing, because you’ve just received a lump sum of money, a tax refund, a bonus, or a raise. Or you may be thinking of buying a house in the future and need to invest some money for a down payment on the house down the road. Either way, one thing …

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The post 4 Costly Investing Mistakes You Must Avoid appeared first on GrowthRapidly.

5 Reasons Your Career Is Stalled and How to Get Unstuck

There are moments in our professional lives that give us those delightful shocks of bliss: landing the job, proposing the winning idea, getting the promotion, being publicly recognized … the list goes on.

Those are the moments that deliver endorphins, that keep us going and growing.

But what happens when you look around one day and realize it’s been a hot minute since you’ve been graced with such a moment? Work has been fine; you’ve heard no complaints. But every day is starting to feel the same.

There are moments in our professional lives that give us delightful shocks of bliss. But what happens when you look around one day and realize it’s been a hot minute since you’ve been graced with such a moment?

What do you do if you realize your career may be stalled? And how can you put yourself back on the path to something more?

Before you assume your best days are behind you and it’s all downhill from here, let’s talk about what might be causing this stall. Then, we can figure out how you might break on through to the other side.

1. It’s time to move sideways, not up

When I first entered the workforce, I remember getting advice from people ahead of me on how to climb that corporate ladder. It was up or out.

But a few years into my career, I stumbled onto the idea of a career lattice. Imagine a shape more like a snowflake than a ladder. It represents the idea that careers could—and in many cases should—move in all directions.

When the time to climb arrives, you'll be carrying more tools in your professional toolbox.

At different seasons in our lives, we may need different things. Sometimes explosive upward growth is it. But sometimes it’s about taking a left or a right and learning new and valuable things, instead. It's about expanding our knowledge before we take the next step up. Then, when the time to climb arrives, we'll be carrying more tools in our professional toolbox.

When I worked full-time in human resources, there were essentially two brands of HR professionals. The specialists managed programs. Think talent management, leadership development, and even company-wide compensation. The generalists partnered with and advised individual business units.

My climb had always been up the specialist ladder. I knew that world was a better fit for me. But I came to a point in my career whee I realized that if I was going to keep climbing, I needed some generalist experience. Spending time advising business leaders would only help me design better programming in the future.

The last move I made in my full-time career was this lateral one. For me, it became the springboard into consulting. I felt rounded out and ready.

This business I run today would be considered a specialist one, but my generalist experience absolutely informs the practicality of the solutions I build for my clients.

So now ask yourself: What’s a move I could take laterally that would round out my portfolio of skills and experience and ready me for the next step up?

2. Your personal brand needs some love

Early in your career, you were known as the hard-working, creative superstar who would roll up their sleeves and solve any challenge. But is this still the narrative that follows you? When’s the last time you checked in on how people are experiencing you?

When I spoke with personal branding expert Dorie Clark, she talked of the importance of not just crafting but staying vigilant about the state of your personal brand, the way you’re thought of by those around you.

Make sure your colleagues and professional contacts experience you as the person deserving of that next great move. Optics matter.

Have you been doing great work, but finding that the accolades and opportunities for growth don’t seem to be following? Dorie would advise you to consider a personal branding refresh.

Here are some strategies she might suggest:

  • Be a recognized expert. Ask around to find out how people are thinking of you. Are you just a great worker all around, or are you the go-to on something critical? Strive for the latter.
     
  • Recapture your creativity. In the pursuit of doing great work, have you tried anything interesting, or are you just playing it safe? Push yourself out of the box.
     
  • Play more offense. Have you been waiting for the next great move to find you? It might be time for you to let the world know you’re on the hunt.

Make sure your colleagues and professional contacts experience you as the person deserving of that next great move. Optics matter.

3. Your network has stopped working for you

You know what they say: It’s all about who you know. The question here is, have you been paying attention to your network?

Think back to when you started this job. As an ambitious professional, chances are, you leaned into networking around the company like … well, like it was your job. We start new jobs with energy and enthusiasm. We want to learn, drink it in, meet everyone and learn about what they do.

We start new jobs with energy and enthusiasm. And then we start to settle in.

And then we start to settle in. People we reached out to in the early days have forgotten us, or in many cases have moved on themselves.

Having advocates and sponsors at work absolutely matters, people senior to you who will raise your name when they're discussing a big opportunity.

So ask yourself: When is the last time I was intentional about doing some internal outreach?

Start booking those virtual coffees today.

4. It’s time to bulk up your resume

When you finished school and landed the job, you had everything they were looking for.

But time has passed, and you’ve taken on more. Maybe you’ve had a promotion or two along the way.

It’s possible you’ve hit your ceiling. For the qualifications you have, you’re at the top of your game. So, it may be time to consider adding a qualification.

Amidst the pandemic, I’ve seen friends add coaching certifications, accounting credentials, and advisory licenses to their resumes. I’ve watched people learn coding, web design, and more.

If something about your resume has stopped compelling people, then spruce it up and make them listen!

5. It’s time to move on

Sometimes it’s not you, it’s them.

You’re impressive, you’re hard-working, and you know this company like the back of your hand. Sometimes that last bit about knowing your role and company inside and out is the problem. Companies are looking for fresh blood. They want new perspectives, fresh eyes on old ways of doing things.

Consider all you’ve learned, seen, and achieved at your organization. When you put it all in the blender, what’s the story that emerges?

This isn’t a criticism of you. It just may mean that for the outcome you want, you need to explore options outside of your company.

Maybe it’s your moment to be someone else’s fresh eyes.

Consider all you’ve learned, seen, and achieved at your organization. When you put it all in the blender, what’s the story that emerges?

How will you show up for another organization with exactly the wisdom and perspective they need in the moment?

And there you have it! Don’t let a career stall get you down. Diagnose the problem so you can get busy solving it.

How to Get Back on Track With Your Financial Goals

If you have fallen behind on your financial goals, you’re not alone. Here are a few suggestions to get back on track.

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The post How to Get Back on Track With Your Financial Goals appeared first on MintLife Blog.

How to Coach Yourself to Success in 5 Steps

I started my business in 2015, knowing I’d need to channel confidence and optimism on the regular. Each time I attempted to do so, I seemed to summon self-doubt and presumptions of failure instead. I guess manifesting hope is not one of my natural talents.

If you’d asked me then what I needed I would have listed knowledge, templates for success, a dozen clients on a silver platter—you get the idea.

Coaching can move you forward, helping you jump over hurdles and achieve big things.

In hindsight, while those would have been awesome, what I needed most was some coaching. Not having access to a coach at that time, I went down the rabbit hole of books and podcasts on personal and professional development. I ended up—in a messy, ugly sort of way—accidentally coaching myself to the place I’m in now.

I wish I’d been more intentional about it, but at the time, I didn’t realize I’d become my own coach. I'm here to help you get into the self-coaching groove without the mess.

Why should you become your own coach?

Coaching can move you forward, helping you jump over hurdles and achieve big things. 

But a coach may not be accessible to everyone. It certainly wasn’t to me. Coaching takes time. A good coach also costs money. Both can be hard to come by.

So, if you’re wishing for some coaching but don’t have access right now, let’s talk about how you can show up for yourself by using some tricks of the coaching trade.

1. State a goal

A great coach can help you achieve outcomes in many domains of your life. But early focus is key to success.

In my business, I wanted it all on day one—press, clients, revenue, a quick understanding of marketing … all those essential things.

But I took myself through an exercise. By answering some questions, I was able to identify and focus on what I needed most urgently. 

And through this exercise, I cut out the noise and determined that my nearest-term goal was to land my first client within 60 days. Boom. No press or marketing, no business development engine, just client number one. 

This clarity helped me direct all of my energy and focus toward this one outcome. I knew achieving it would help fuel my path to the next goal.

Now your turn. Are you looking for a promotion? Let’s get more specific than that. Your coach would start with some questions like

  • What’s the right timeline? Is it ASAP? 6-12 months? When will you feel ready?
  • Is it a specific role, or are you just looking to get to the next level?
  • Will the new role necessarily be in your current company?
  • Will you lead a team?

By answering some questions, you can get from a vague "get promoted" to a specific "get promoted to assistant marketing manager in six months."

So here’s your first assignment. Determine what you need to ask and answer in order to clearly see your immediate goal post.

2. Sharpen your "why"

Once you’ve identified a clear outcome, a coach will pressure test it. You want to be sure the outcome you’ve identified will deliver the experience you’re really looking for.

You don’t want to chase down that promotion only to realize it’s not what you really wanted.

A promotion is a perfectly reasonable goal, as long as it’s for the right reasons.

A coach might ask questions like

  • Why does that promotion feel important to you?
  • How clearly do you understand what that bigger job will entail?
  • What will getting that job cost you (Longer hours? More travel?)
  • When you imagine having it, do you imagine the recognition and satisfaction of getting the job, or is it actually doing the job that excites you?
  • If it’s the recognition you’re seeking, are there other ways you might achieve that feeling?

Sharpening your “why” may reveal the need to choose a different goal or outcome. And that's OK. 

You don’t want to chase down that promotion only to realize it’s not what you really wanted. A coach will help you check yourself before you start down a path.

I wanted to stand on my own. To choose my projects, to own my sense of impact, and to not feel beholden to any company ever again.

So ask yourself a series of questions to ensure you’re paving the right path.

3. Bring in a framework 

Part of the value a coach brings is the set of tools they carry in their toolbox.

Today I’d like to loan you one of mine. It’s a simple framework designed to build the roadmap to deliver you to your goal.

I use the CREATE framework developed by David Rock, founder of the NeuroLeadership Institute. It’s simple and clear and you can drive it without a license.

The framework is comprised of three parts:

  • CR represents your Current Reality.
  • EA is about Exploring Alternatives
  • TE tells you to Tap your Energy

So now, with clarity around what you’re striving for and why, take yourself on a quick journey through this framework.

Define your current reality. Be factual and objective. This means making observations like “I’ve been in this role for three years and I’m ready to expand my skills.”

It is not stating things like “I’m stuck in this job and no one sees me as ready for growth.”

See the difference? Stay with the facts.

Next, explore your alternatives. What paths could you possibly take? You could

  • Apply for a promotion
  • Tap your network to see what other opportunities are out there
  • Take a course
  • Make a lateral move to help expand your breadth of experience

Think broadly; don’t just limit yourself to the most obvious next step.

And finally, tap your energy. Once you’ve identified all of your alternatives, just sit with all of them. Imagine yourself walking toward each, and note which inspires you most. 

That becomes your first action.

My energy went into calling 10 friends or colleagues each day, letting them know of my new venture, and asking if I could be of service. 

Let your energy determine which path you pursue. Choose one and commit to it.

4. Drive accountability

One of the greatest gifts a coach can offer is accountability. They’ll help you identify your next steps. And they will track you down to make sure you’ve taken them.

So here I urge you to find other means of creating accountability for yourself. How can you make your action plan feel “mandatory?”

Here are some strategies to consider.

Schedule it. For some, once it’s on the calendar, it’s as good as written in stone. Determine what action you need to take, and on what timeline, and book it. Then protect that time like you mean it!

Find an accountability buddy.If you’re looking to make a change, I’m willing to bet you have a friend or colleague who is, too. So do some outreach and find someone looking to create their own accountability. Partner up to keep each other on track. Maybe you check in with each other on a weekly basis. You won't want to tell your buddy you didn't make it happen, so you're more likely to do the thing before each check-in.

Attach a treat. Some people only allow themselves to watch the next episode of their favorite show while they’re on the treadmill. What’s your equivalent of this? In the kindest way, withhold something from yourself (a show, a nap, a chat with a friend) until you’ve taken the action you promised yourself you’d take.

5. Show empathy

A great coach will deliver tough love … but with a heavy dose of empathy. True coaching is delivered with kindness. And you need to show that kindness to yourself.

True coaching is delivered with kindness.

This doesn’t mean letting yourself off the hook when you don’t do the thing. But it does mean recognizing what might be hard for you and why. If you know you need to ask for a reference but you’re feeling intimidated, don’t beat yourself up. You’re not weak or passive; you’re thoughtful and intentional.

If you hear your inner voice start to beat you up, immediately bring your coaching voice to the table to remind that inner beast just how hard you’re working.

Whatever change you’re striving to make, I’m confident you have it within you to coach yourself to that finish line. I can’t wait to see what you’ll achieve this year!