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9 Practical Tools to Overcome Decision Paralysis Quickly

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Decision paralysis is something almost everyone faces. With endless options and information, making even a simple choice can feel overwhelming. Whether you’re picking a retirement plan, choosing a new phone, or just deciding what to have for dinner, decision paralysis can slow you down and add unnecessary stress. It often leads to missed opportunities, frustration, and second-guessing. Learning how to overcome decision paralysis quickly helps you move forward with confidence and less regret. Here are nine practical tools to help you break free from indecision and make choices more easily.

1. Set a Time Limit

When you give yourself a deadline, you force your brain to focus. Set a timer for small decisions—say, ten minutes for picking a restaurant or one hour for selecting a new savings account. For bigger decisions, set a reasonable deadline, like a week. The time pressure helps you prioritize what matters and avoid overthinking. By sticking to your own limit, you build trust in your decision-making process and reduce the risk of getting stuck in endless analysis.

2. Limit Your Options

More choices can actually make decisions harder. To overcome decision paralysis quickly, narrow your options to just two or three. For example, if you’re comparing investment funds, pick your top three based on your main criteria. Then, compare only those. This approach keeps you from feeling overwhelmed and makes it easier to spot the best choice for your needs.

3. Define Your Priorities

Before comparing options, clarify what matters most to you. Are you looking for the lowest cost, the highest quality, or the fastest result? Write down your top priorities and use them as a checklist. This helps you filter out distractions and focus on what aligns with your goals. By making your priorities explicit, you can overcome decision paralysis quickly and confidently.

4. Use the “Good Enough” Rule

Perfectionism fuels indecision. The “good enough” rule, sometimes called satisficing, means choosing an option that meets your needs even if it isn’t perfect. Ask yourself: Does this choice solve my problem? If yes, go for it. Most decisions don’t need to be perfect—they just need to work. This mindset frees you from chasing the ideal and helps you move forward.

5. Seek Outside Perspectives

Sometimes, you’re too close to a decision to see it clearly. Asking a friend, mentor, or even an online community for input can provide fresh insights. They might spot something you missed or help you see the big picture. Just be careful not to rely on too many opinions, as that can make decision paralysis worse. Choose one or two trusted sources and weigh their advice thoughtfully.

6. Visualize Outcomes

Imagine what your life will look like after each option. Picture the best and worst-case scenarios. How does each outcome feel? Does one path make you feel more excited or more at ease? Visualization helps you tap into your gut instinct and clarify what you truly want. It’s a simple way to cut through mental clutter and overcome decision paralysis quickly.

7. Break Big Decisions into Steps

Large decisions can feel overwhelming because they involve many unknowns. Break them into smaller, manageable steps. For example, if you’re choosing a new career, start by researching industries, then narrow it down to a few companies, and so on. Tackling one step at a time makes the process less intimidating and builds momentum.

8. Use Decision-Making Tools

There are plenty of tools designed to help with tough choices. A simple pros and cons list is a classic. Decision matrices let you score your options based on what matters most. Online tools like decision-making worksheets can guide you through the process. These resources help you organize your thoughts and see your options more clearly, making it easier to overcome decision paralysis quickly.

9. Accept That No Decision Is Perfect

Every choice involves trade-offs. Remind yourself that mistakes are part of learning, and very few decisions are permanent. By accepting imperfection, you reduce the pressure and fear that often fuel decision paralysis. If things don’t work out, you can always adjust course later.

Build Confidence and Keep Moving Forward

Overcoming decision paralysis quickly is a skill that can be developed with practice. The more you use these tools, the more confident you’ll feel in your choices. Over time, you’ll notice you spend less energy worrying about what might go wrong and more time enjoying the results of your decisions.

Remember, every decision is a chance to learn and grow. Next time you’re stuck, try one or two of these strategies and see how quickly you can move forward.

Which of these tools has helped you break free from decision paralysis? Do you have your own strategy that works? Share your thoughts in the comments below!

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11 Outdated Skills That Were Once Cutting-Edge

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As technology rapidly evolves, skills that were once essential for daily life and professional success can quickly become obsolete. These skills, though no longer in widespread use, laid the foundation for many of the modern conveniences we take for granted today.

Reflecting on these outdated skills offers a fascinating glimpse into how far we’ve come and underscores the relentless march of innovation. In this article, we explore 11 skills that were once cutting-edge but are now largely relics of the past, highlighting the contrast between then and now.

1. Typing on a Typewriter

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Typewriters were the epitome of office efficiency in the 20th century. Mastering the typewriter was a necessary skill for secretaries and writers alike. Each clack of the keys marked progress, but today’s keyboards have replaced these once indispensable machines.

The advent of computers and word-processing software rendered typewriters obsolete, yet their legacy remains in the nostalgic clicks and clacks of mechanical keyboards favored by some. As technology advanced, the need for physical paper trails diminished, making typewriters a relic of a bygone era.

2. Navigating with a Map and Compass

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Before GPS became ubiquitous, mastering map and compass navigation was essential for travelers, hikers, and explorers. This skill demanded a thorough understanding of topography and orientation. Today, digital maps and GPS devices provide real-time location data, simplifying navigation to a few screen taps.

While the basics of using a compass remain relevant for survivalists, the average person rarely relies on these tools. The transition from physical maps to digital interfaces underscores our shift toward convenience and real-time data.

3. Handwriting in Cursive

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Cursive handwriting was once a hallmark of a good education, symbolizing sophistication and literacy. Schools dedicated hours to teaching students the elegant loops and swirls of cursive writing. However, the rise of digital communication has diminished the importance of this skill.

Today, typing and texting dominate, and many schools have phased out cursive from their curriculums. Despite its decline, cursive retains a certain charm and is still used in signatures and decorative writing, reminding us of its historical significance.

4. Operating a Manual Transmission

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Driving a stick shift was once a rite of passage, especially in regions where manual cars were predominant. Understanding the intricacies of clutch control and gear shifting provided a sense of connection between the driver and the machine. However, automatic transmissions have largely taken over, offering convenience and ease of use.

While manual cars are still cherished by automotive enthusiasts for their performance benefits, the majority of drivers today opt for automatics. This shift highlights our preference for ease and accessibility in everyday tasks.

5. Developing Film Photography

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The art of developing photographs in a darkroom was a meticulous process that required both skill and patience. Photographers needed to master techniques like exposure, developing times, and chemical mixing. The digital photography revolution has all but eliminated the need for these darkroom skills.

Instant image review and editing software have replaced the time-consuming darkroom processes. Despite this, film photography has seen a resurgence among hobbyists who appreciate its aesthetic and tactile qualities, preserving the craft in a niche market.

6. Making Phone Calls on a Rotary Dial

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Rotary dial phones, with their distinctive circular design, were once the standard in homes and offices. Mastering the technique of dialing numbers without making mistakes was a basic skill. Today, smartphones and touch screens have rendered rotary phones obsolete.

The transition to digital communication has made dialing as simple as tapping a contact’s name. While rotary phones are now considered vintage items, they remind us of a time when communication required patience and precision.

7. Using a Card Catalog in a Library

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Card catalogs were the gateway to finding information in libraries before the digital age. Users had to understand the Dewey Decimal System and navigate through countless index cards. Modern library systems have digitized these records, allowing instant searches and easy access to materials.

While card catalogs have been phased out, their legacy lives on in the meticulous organization of digital databases. This evolution reflects our desire for efficiency and the seamless retrieval of information.

8. Programming in Assembly Language

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In the early days of computing, assembly language programming was a fundamental skill for developers. This low-level language allowed programmers to write instructions that the computer’s hardware could execute directly, requiring a deep understanding of the machine’s architecture and memory management.

Each line of code translated into a specific machine instruction, making the process both intricate and time-consuming. However, this provided unparalleled control and efficiency, which was crucial for the limited computing power available at the time.

As high-level programming languages like Python, Java, and C++ gained popularity, the need for assembly language knowledge diminished. These newer languages abstracted much of the hardware complexity, allowing developers to focus on solving problems rather than managing system resources.

This shift democratized programming, making it accessible to a broader audience and accelerating software development. Despite this, assembly language remains relevant in specialized fields such as embedded systems, where performance and efficiency are paramount, and in game development, where fine-tuning hardware performance is often necessary. Its continued use in these niches underscores the balance between simplicity and control that assembly language offers.

9. Using a Slide Rule

Slide rule

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Before electronic calculators became ubiquitous, the slide rule was the quintessential tool for engineers, scientists, and students. This analog device, often made of wood or plastic, allowed for quick and accurate calculations, ranging from basic arithmetic to complex logarithmic functions. Mastery of the slide rule required understanding its scales and the ability to perform precise manipulations, which were critical skills for problem-solving in technical fields.

The advent of electronic calculators and, subsequently, digital devices, rendered the slide rule obsolete almost overnight. These new tools provided faster, more accurate calculations with less effort, freeing up intellectual resources for more creative and analytical tasks. Today, the slide rule serves as a historical artifact, a tangible reminder of the ingenuity and precision that characterized pre-digital engineering and scientific practices.

10. Transcribing Shorthand

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Shorthand was once an indispensable skill for secretaries, court reporters, and journalists. This symbolic writing method enabled rapid note-taking by using a system of abbreviations and symbols to represent common words and phrases. Mastery of shorthand allowed for the efficient recording of information during fast-paced meetings or dictations, ensuring that no detail was lost.

With the rise of digital recorders and voice-to-text software, the necessity of shorthand has dramatically declined. These technologies offer speed and accuracy, allowing for real-time transcription and easy sharing of recorded content. Typing and digital transcription tools have become the standard, providing a seamless way to capture and distribute information.

While shorthand still holds value in certain professions, its widespread use has diminished significantly. The transition to digital tools reflects our ongoing pursuit of efficiency and accuracy in information management, making shorthand a specialized skill rather than a general necessity.

11. Repairing Vacuum Tubes

Vacuum tubes

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Vacuum tubes were once the backbone of electronic devices, from radios to early computers. Understanding how to test and repair these components was crucial for technicians. The invention of the transistor and later the integrated circuit revolutionized electronics, making vacuum tubes nearly obsolete.

Modern electronics are more reliable and compact, reducing the need for manual repairs. However, vacuum tube technology still finds use in specific areas like high-end audio equipment, where enthusiasts appreciate its unique sound quality.

Times Keep Changing

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The rapid pace of technological advancement continually reshapes the skills we consider essential. While many once-cutting-edge skills have faded into obscurity, they lay the groundwork for the innovations we enjoy today. Understanding this evolution helps us appreciate the ingenuity of the past and prepare for the future. Stay curious and adaptable, and you’ll be ready to embrace the next wave of technological progress.

How to Utilize Rewards

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On this site, we talk about credit, investing, and how to pay off debt. One thing that’s often missed around the debt subject is rewards.

Rewards are incentives to keep going. It’s something we can use to motivate us on our journey, no matter what that journey is.

Whether we are trying to pay off debt, lose weight, or just, straight up, improve our life. You need to reward yourself, otherwise, it’s go go go, all the time.

In this article, we’ll talk about when it’s a good time to reward yourself, how, and things to look out for.

Habits

A reward should be centered around two things. Habit formation or commitment, and goals.

If you are trying to make an improvement on something, whether it’s your health or your finances, you have to develop good habits.

If you want to exercise more, do it six days in a row, then take a break. That break can be your reward. If you want to eat better, do it for six days and then take a little break with a cheat meal.

The first step is creating the habits to get yourself to that better place.

Goals

The next reward will come when you hit goals. You want to get to a certain place, say saving $20,00 for a down payment, eliminating your debt, or losing 20 pounds.

Those are great goals, but you should put in place incremental ones to help you get there. That could be a reward for every $5,000 saved, every $5,000 paid down, or every 5 pounds lost.

It’s a lot like Dave Ramsey’s “Snowball Method” with applications in different areas of life. The goal with that method is to give you small wins to keep you motivated.

How to reward

If you put those habits in place and hit those goals, it’s time for the reward. The great, but the challenging part about that is everyone defines reward differently.

So when you create a reward for yourself, you should keep two things in mind. Make sure it’s good enough to release some dopamine, but small enough that it doesn’t set you back on what you are trying to accomplish.

If you’re trying to lose weight, your reward should be a little cheat meal or a day off from working out. Not a day of binge eating or a week without breaking a sweat.

If you’re trying to save money or pay down debt, don’t let whatever the reward is negate you from saving that month or add to your debt.

Large enough to make you feel good, but small enough so you stay on course.

What to watch for

The biggest thing to watch for is the size/duration of the reward. It mustn’t be too big or too small.

It’s a fine line and may require a little trial and error before you get it right. Start small and work your way up.

As I mentioned, it shouldn’t detract you from the pursuit of your goals, but it should also make you feel good about the progress that you’ve made or the habits you’ve created.

How I handle rewards

I won’t lie to you, rewards are a challenge for me. I’m very much a black and white type of person.

I keep junk food out of the house because I can’t be tempted with it. I make regular transfers from checking to savings in order to keep “discretionary money” out of my bank account for fear of spending it away (mostly on take-out, honestly).

It’s hard for me to put the pedal to the floor and take it off for a day. I’m either all on or all off, but I’m starting to figure it out. It really just takes some practice, a little will power, and some self-awareness.

Related Reading:

The Psychology of Money

Diving Deep into Debt

Money Anxiety

My Life and How I Manage Stress

A Systematic Approach to Goals

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With 2020 staring us in the face, it’s time to review goal setting and the systems you can put in place in order to reach those goals.

“A goal without a plan is just a wish.” – Antoine de Saint-Exupery

That said, let’s look at systematic ways to approach goal setting and actionable tools you can use to smash those goals.

How to begin

  1. Large/Lifetime goals – These are things you want to accomplish throughout your life. They can be philanthropic, health, financial, etc. Figure these out first.
  2. Short-term – Now that you have your long-term/lifetime goals determined, you can break them down into shorter-term goals. Consider these stepping stones, and a lot of these will change as you age. For example, your philanthropic goals. There may be causes you care deeply about now, but that can change.
  3. Actionable steps – Once you have your lifetime goals broken down into manageable targets, it’s time to create steps to get there and I’ll illustrate that using the three examples above.
    1. Philanthropic – Research causes and charities. Pick the ones you most identify with. Review your budget to find out how much you can give. Do a little more research to find out if your donations are tax-deductible (most, if not all, should be).
    2. Health – Establish the specific reason you want to be healthier (for yourself, your partner, your kids, grandkids, etc.). Research a diet that could work for you. Research an exercise regimen that could work for you. Consult experts (i.e. nutritionist and personal trainer).
    3. Financial – Create a budget/spending plan. Cut expenses. Save for emergencies. Insure you and your belongings. Save for retirement.

Here are a few articles I’ve written in the past about financial goals:

Worthy Goals For You To Set And Crush

How Do You Set Financial Goals?

Systems

We can think of systems as the sub-category of actionable steps. A routine is another word for it. When it comes to goals and habits, you can’t rely on will power. You have put a plan in place to do the work for you.

Take exercising for example. You need to create low barriers for yourself. Wear your gym clothes to bed or have your bag packed the night before.

If you go to the gym, put your bag and your keys in a place where you have to pass them to get to your car.

If you exercise at home, have your routine and your equipment laid out and ready for you.

Habits

When it comes to creating habits, James Clear, the author of Atomic Habits, likes to break down the habit into bite-sized pieces.

For example, if your saving for a down payment, go to your banking app and transfer $1 from checking to savings every morning (or whatever amount is realistic for you).

When that becomes second nature, bump it up a dollar a day.

Another thing that James says is, “People ask me all of the time, how many days does it take to create a habit? My answer, all of them because if you stop doing it for one day, it’s no longer a habit.”

External versus Internal

This section is speaking specifically to mental health versus other goals. You could also consider physical health as an internal goal, but for this article internal relates to mental health.

There are several things you can do to work on your mental health. See a therapist, exercise, and start a journal. Those three are low-barrier, easy things you can implement into your day to help.

Meditation, medication, and other forms of mindfulness training/practice can also help. There’s a podcast that I listen to regularly called “10% Happier” that will help you with establishing a meditation practice.

Do some research about this. Meditation can and will take many different forms, and not each modality will be right for you. Some may find that magic mushrooms from a magic mushroom dispensary can help them to relax, whilst reading has also proven to have meditative benefits.

Financial Goals

It really is up to the individual as to what they consider, short, medium, and long-term, but my definitions are as follows: Short-term – less than 3 years. Medium-term – 3-15. Long-term – 15+.

My definitions are almost entirely based on the investability of those assets for that specific time period.

  • Short-term – Emergencies, a new car, what have you. This is money you will need soon, so risking it in the stock market is out of the question. High-yield savings accounts should be your go-to in this scenario.
  • Medium-term – Things like down payments for a house or sending your kid to college. What you’re saving for will dictate the vehicle that you use. If it’s saving for college, a 529 or a Coverdell ESA should do the trick. If it’s for a down payment, your best bet is usually a taxable brokerage account, as there are no fees for early withdrawal.
  • Long-term – This should be strictly focused on retirement. Assets should be in a retirement account(s) and invested (investment selection should be based on risk tolerance and time horizon).

Once you’ve established your short, medium, and long-term goals you can break them down into actionable steps as we talked about earlier.

Wrapping it up

Each New Year brings about resolutions that we hope to achieve. Whether it’s getting in shape or paying down debt, your barometer for success should be progress and consistency.

Are you in a better place than you were on January 1st? Do you have more saved? Are you still committed to the goals you set in the first place?

Yes. It feels great to set a target and hit it, but as far as I’m concerned, if you’re better than you were yesterday, that’s all that matters.

Take it one day at a time and keep your eyes on the prize. You got this!

Related Reading:

How to Set Long & Short-Term Goals (And Reach Them Too!)

Home Improvements That Can Save Money on Homeowners Insurance

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Being a homeowner is expensive. You’re responsible for keeping up with maintenance, covering the utilities, as well as covering the mortgage, taxes, and insurance. As you can’t go without any of these things, finding ways to cut back on your monthly expenses is the only solution. Take, for instance, your homeowner’s insurance. You’re required to have insurance to protect your property but there are ways to slash the annual rate.

In fact, completing home improvement projects can actually save you money on your homeowner’s insurance. You see, the safer and structurally sound your home is the less of a risk for the insurance providers.

While there are certainly a ton of ways you can upgrade your house, not all will get you the discount you’re looking for. Below, is a look at some home improvements you should consider to save money on insurance:

Improve Home Systems

Older homes especially are a high risk for household emergencies. With old heating, cooling, plumbing, and electrical systems, there is an increased possibility of the house catching fire or suffering from water damage and plumbing issues. If the systems in your home are outdated or haven’t been serviced in a while, now would be the perfect time to get to it. Having someone complete a water heater replacement San Diego (or in a major city near you), a new furnace, or the rewiring of the electrical system lowers the chances of a fire or flood and, therefore, save you money with the insurance provider.

Water Shut-Off Devices

Water damage can destroy a home and cost insurance companies thousands of dollars to repair. That’s why they’re willing to offer a discount to customers that are willing to install water shut-off devices. These are devices that will turn off the main water supply in the house in the event that there is a leak or fire detected.

Install a Home Security System

Homeowners insurance policies are designed to protect your property and belongings in the event that your home is broken into or vandalized. Depending on where you live and the condition of your home insurance providers may charge more simply because you’re a high risk.

To lower those risks, all you need to do is have a home security system installed. Though you don’t want to go bankrupt on the installation, the more advanced the system is the better the discount. For example, a noisemaker isn’t going to warrant much of a discount, however, a security system with cameras, motion sensors, and a direct line to local authorities will.

A New Roof

Though expensive in nature a new roof can get you some savings on your property insurance. Being one of the most important structures of the home, roofing issues can cause a great deal of damage. Particularly in windy cities or areas prone to tornados and hurricanes, insurance providers will give you a discount for a new roof. Simply have a roofing contractor come out to discuss the various options and best roofing materials for your home and environment.

A Generator

Harsh storms, natural disasters, and freezing temperatures are becoming more common. When these things occur, it often leaves homeowners without power (and sometimes water) for days at a time. The longer a house goes without power, the more issues could arise. For example, in freezing temperatures, the pipes could freeze.

Having a generator installed, however, changes this. It provides you with an emergency power source to conserve your food and keep your house operating until utility companies are able to service the problem. As you’ve reduced the risk of real structural damage, your insurance provider will likely give you a discount.

Keep Receipts and Invoices

When completing these renovations on your home be sure to keep receipts and invoices. You’ll need to provide proof to your insurance provider that you’ve had the work done on the property. You may also need to prove that it was done professionally and up to code.

If you’d like to save money on your monthly household expenses, consider using the above-mentioned suggestions to slash those property insurance costs. Though some of these upgrades are expensive investments, each makes your home safer and reduces risks that the insurance policy is designed to protect you from. Completing these home improvement projects, therefore, seems worth it.

Get Inspired: Business Successes

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There’s no two ways about it, business can be hard work, whether you’re focusing on progressing up that proverbial career ladder or you’re looking at breaking away from the norm and starting something for yourself.

At times, it can feel like your business plan is going nowhere – but don’t despair! Instead, it’s important to get yourself re-inspired. Whether that’s by enrolling onto a course that can help train your business acumen – something that London School of Business and Finance (LSBF) can help you with – or taking a look at some of those that have already realised their business dreams, there’s no reason why you, too, can’t join the ranks of business successes.

Here, we’ve put together some short case studies on some of the business people that we’re inspired by in the hopes that they’ll inspire you, too.

Holly Tucker and Sophie Cornish

Few can say that they’ve not heard of notonthehighstreet.com. The site is a digital marketplace for sellers of crafts, fashion, accessories, homewares and more – but everything is unique in that it’s been handmade or created by someone with passion. Essentially, it’s a global village fete with only the best stalls, and it was created in 2006 by Holly Tucker and Sophie Cornish.

Not only has the unique site won them prestigious technology awards (the retail platform they work on simply didn’t exist before they had it built) both Tucker and Cornish scored an MBE each for their services to small businesses. 2013 saw notonthehighstreet.com turn over £83 million, but it was by no means always this way.

In fact, neither founder took a salary for the first couple of years because they were so adamant on keeping the quality of sellers on the site as high as possible – meaning that they were rejecting a huge amount of potential cash in the bank for the brand’s integrity.

Palmer Luckey

Few might have heard of Palmer Luckey, but anyone interested in the world of technology will be familiar with the invention of the Oculus Rift. Aged just 22, Luckey developed the Oculus Rift and sought funding through Kickstarter.

This publicly funded campaign brought nearly $2.5 million in pledges, and Luckey was able recreate his invention for the masses.  From this, his business Oculus VR was formed; a business which continues to grow thanks to the ever increasing interest in immersive virtual reality.

Though the technology is solely utilized by video games for now, Luckey believes that a digital world parallel to ours is the future for Oculus tech – an unsurprising view considering that Facebook recently bought Oculus Rift for a reported $2 billion.

 

Palmer Luckey

As the above stories prove, success comes from many different kinds of backgrounds – but a specialised business education will only ever be a help. From understanding basic management principles to developing a solid business plan and knowing how to put it into action, a background in business practice could be the difference between creating something amazing, or just having a good idea that nothing ever comes from.

University courses like the qualifications available at LSBF are best equipped to help you take your idea where you want it to go – who knows, you could make our inspiration list this time next year!

Photo: D Coetzee

3 Tools to Help You Make More Money and Spend Less Time Doing It

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What if there were a way to put less time into your business but earn more money? Entrepreneurs tend to believe everything can be solved by spending more time and money on the job. But if simply investing more time and money would put you on the road to success, you would already be there, wouldn’t you? Entrepreneurs always have the drive. What they sometimes lack, though, is the right tools.

Efficiency experts know we often exert too much effort to accomplish a task. Organization is central to the flow of information and communications. Here are three tools to help you leverage your time and make more money:

Microsoft OneNoteweight scale

The interface is simple to grasp. OneNote enables you to collect all information in one place. No more searching through files and folders to find what you need. OneNote will hold audio, video, and graphic notes, and you can instantly clip things from websites or other documents directly to your notebooks. This is one powerful tool. A similar alternative is Evernote, but there are open source variations, as well. For the busy entrepreneur, it can be simpler and more cost effective to simply stick with the original. Check Microsoft Office online for cloud-based package to help you soar.

Now that your own desk is organized, get your team on board. Project management programs can be way too complicated. Unless you are building a space shuttle, you probably don’t need an elaborate communications system. Most of us can get by just fine with a simple board to post notes and track task status.

Trello

Life doesn’t get much simpler than this. Trello offers a straightforward interface of columns with text blocks that can be moved from one position to the next. A task may start out in the “To Do” list, move to “In Progress,” and end up “Finished.” You title the columns and decide your own system. Trello records it and allows you to share access with team members. Trello also offers a paid version with a little more flexibility. Breeze is a paid service very much like Trello, but with time tracking.

Leads are vital to any business. You can have the best sales funnel ever constructed, but if no prospects are entering, there will be no sales. Most businesses will spend lavishly on website development, SEO, and paid ads to develop leads, but balk at taking advantage of a service that provides targeted leads. The best practice is utilizing a good mix of sources.

Quote Wizard

The best lead services don’t try to be everything to everyone. Rather, they concentrate on a specific niche. Quote Wizard, for example, focuses on insurance leads. Reduce cold-calling and praying for an appointment. With targeted leads, your presentation and close rates can jump-start success and boost enthusiasm. For other niches, search to find a similar service that fits your needs.

Organization, project management, lead development: three areas where the right tools can make all the difference. Are there other service you are using for leverage? Let us know in the comments below.

Resolutions for 2015: Take Your Inventory Live

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Own a business? It’s your lucky day! Here’s a way to stretch more money out of 2015…..

What hopes do you have for your business in the New Year? Would you like to grow, or add new locations? Getting a grip on your cash flow, inventory, and day-to-day operations is the best step that you can take. By changing to a live inventory system with a POS system you can understand everything that’s happening with your business.

First StepsScreen Shot 2014-10-30 at 8.25.55 AM

New Year’s resolutions are typically easy to make but hard to follow through on, but making a resolution to implement live inventory tracking and point-of-sale system is an easier resolution to keep than you think. Point-of-sale systems are no longer a $20,000 proposition piled with a nightmare web of expensive maintenance contracts and proprietary software. In fact, it is possible to obtain a complete point-of-sale system for around $1500. With the addition of a barcode label and a barcode scanner you’ll have everything you need in order to start taking your inventory live right out of the box. You want to avoid the hazards of assembling a POS bit by bit, which Microsoft points out can cost you a great deal of extra money that you need not spend.

Whatever your reasons for implementing this new system you should know that it is one of the best things you could do for your business. Shrinkage, a perpetual problem in retail and wholesale, can be effectively addressed through inventory control information systems. The Houston Chronicle states that by tying inventory to sales, it is possible to stop or reduce shrinkage that is costing you money every single day. It is estimated that some $13 billion a year is lost to shoplifting alone, that leaves out shrinkage from internal theft, and data entry errors. Getting started is easy:

  • Make a master list of every item in your storefront, stockroom or warehouse. You might want to do these on old-fashioned index cards with information such as SKU/item number, unit of measure, purchase cost, vendor information, and a basic description.
  • Using your barcode label printer (many eCommerce vendors like Shopify offer good printers and scanners) and barcoding software to generate barcodes for any inventory that does not already have them. Typically an SKU or item number will appear along with the barcode from the OEM, you will need to make sure this matches the SKU or item number that you have previously recorded.
  • You will also want to record the location of the items. For example, you may want to denote specific locations where an item is stocked. You may wish to have one barcode for items on the shelf in your stockroom, and a different barcode for items in your storefront. In the case of having more than one storefront you can even designate which store and which stockroom where the item currently resides.
  • Now you’re ready to start the initial inventory. You may want to close down in order to complete this part. It can be very disruptive to business, which is why many stores will close down at the end of the year in order to take their inventory. If you cannot close down set aside a certain amount of goods in a separate inventory to keep the business operational.
  • Make sure you have enough staff and barcode scanners, and bring everyone together to set out the order of march. Assign your personnel to their sections and tackle the job sequentially and systematically.
  • Mark every completed location with a sticker so that it is not counted again, and you may also wish to have the staff member’s initials on each sticker so that you will know who counted each section.
  • Reconcile the inventory against your accounting balances. You may find substantial discrepancies between what you have in your actual inventory and what you have in the books. Take the time to find out what is causing the discrepancies, and then get ready to go live with your new inventory process.

Garbage In, Garbage Out

You get out what you put in. Your new inventory process is only as good as the data that you enter. Especially with an online business….you opened it up to be efficient, so keeping your data as clean as possible by instituting policies with your sales, stock, and management people will keep things moving smoothly. Getting a better grip on your inventory will allow you to streamline your ordering processes, without overextending your cash flow or choking the flow of goods from the vendor to your business to your customer. You will also eliminate what Logistics Management says is one of the key overlooked problems of excess inventory, the expense of maintaining it. Inventory requires storage, square footage, maintenance, and other staff attentions. Excess inventory costs in these areas can over time exceed the value of the actual merchandise. By streamlining your order processes you’ll be able to understand what items are moving, what items are not, and what you really need to mark down and get rid of. While you might not ever completely eliminate clunkers, at least you will know what does and does not work for you.

Online Businesses: Lots and Lots of Benefits

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Today we’re pretty excited about owning online properties. I thought it’d be worthwhile to explore all of the benefits, especially for people reading this blog considering jumping into the fun!

Instead of hoping for a dream job and a big salary, owning your own online business can open many doors for you and buy you more benefits. On top of the perks many people talk about, like working from home and flexible hours, it also can keep costs down, helping you financially. Internet businesses normally operate at a fraction of the cost of brick and mortar stores. While with traditional businesses you would need to rent or purchase a building, Internet businesses are all online. Many programs such as Shopify simplify the process of starting up your business. It’s a smoother, easier glide path to profits. Compared to the thousands of dollars you’d spend in renting out space, you’d only have to dish out a couple hundred a month at most. Home Office Free Financial Advisor

General Benefits in Doing Business Online

  1. As popular website InternetBusinessJunkie mentions, you have the ability to reach more people if you do business online. Traditional businesses that have a set location don’t reach nearly as many countries as an online business does. Most online businesses have the ability to do national as well as international sales. This blog alone is read in over 35 different countries on a consistent basis!
  2. You can leverage the usage and growth of the internet. The best way to market your business is by networking and there are many free and low cost ways to market online.  Social media is a great free resource to do most of your networking.
  3. You are able to work wherever it’s convenient. As long as you have a laptop or tablet, you can work virtually anywhere with just a WiFi connection. This allows you to keep a more flexible schedule so you can work whenever you need to.
  4. No more commuting. This saves a ton of time and money, especially with gas prices these days. I wake up every day and walk over to my home office and begin working.
  5. Though you are responsible for your own taxes, as Smallbusiness mentions, this could work to your advantage. As long as you remember to, you are able to take out as much or as little as you please. By the end of the year, by paying in taxes as you go, you’re in control of how much you will receive back or if you’ll owe more all at the due date.
  6. It has been said that the Internet has created an economy all of its own. Since millions of people are doing business online, it is only a matter of time before many traditional businesses become a thing of the past. Dbwebdoctor states that in years to come, eCommerce will obtain its main growth from small and mid-sized businesses.

Be Set For Life Financially

Unlike traditional businesses, online businesses operate 24/7. This means that while you sleep, you’re still receiving orders from customers worldwide. This could take the guesswork out of figuring out the right hours to be open. Being the sole owner of your business also means that you set your own wages. You can determine what your products should be priced at instead of listening to the head of a corporate business telling you what to do.

Once you learn the ins and outs of selling online, you have what we refer to as “blue sky” potential. Sure, there are going to be some trial and error runs regarding what products you should sell, but once you know how to sell online, making money will follow. Building a business online also gives you the ability to work for something that you love to do, according to Lifehack. How many people out there can honestly say that they are working towards what they are passionate about and they love what they do?

Resources to help are also plentiful. There are pools of designers and programmers available to hire at places like eLance or Odesk, among others, if you need help building any aspect of your website. There are freelance writers who will write articles for your website and virtual assistants who can take care of tedious details concerning your business. This could take a lot of pressure off of your shoulders while you deal with your product line and customers. The Free Financial Advisor works with a programmer in Minnesota, a virtual assistant in Michigan and another in the Philippines, as an example.

If you have children and are currently paying for child care, this is another expense you can think about canceling. Since you have the ability to work from home, you won’t have the need to spend hundreds of dollars a week for a babysitter. Though you may want to hire a babysitter once or twice a week if it becomes too much of a distraction juggling all of your responsibilities, you won’t pay nearly as much as if you went back to a full time daycare.

Between saving money on everyday expenses and making money at your own leisure, if you are dedicated to your business, you will be able to make it work. There are many resources online that can help you through your journey to owning your own business.

Photo: Lisa Risager

Why People Brag About Being Busy Even Though It’s Making Them Miserable

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Most people equate being busy with Woman at desk at Free Financial Advisorbeing industrious. “If you have something that needs to get done,” the old axiom goes, “assign it to someone who’s busy.” People love to boast about how busy they are, but busy-ness and productivity don’t always go together.

Psychologists also say that idleness is one of the main reasons people are unhappy. However, even though Americans are busier than ever before, only only one in three describes him or herself as “very happy.” Many factors including technology, social networks and consumerism drive people to become busier. Even though “busy” is a symbol of social status, in reality, it’s making people miserable.

Why Our Culture Praises Busy-Ness

Brigid Schulte, author of “Overwhelmed: Work, Love and Play When No One Has the Time,” suggests that America’s Protestant work ethic has gone into overdrive. She points out that during the Catholic-dominated Middle Ages, one of the church’s seven deadly sins was “acedia,” or frenzied busy-ness.

Man running at The Free Financial AdvisorBy the mid-20th century, post-war America envisioned itself growing more leisurely. Economists predicted that by the 1990s, Americans would work just 22 hours per week. John Maynard Keynes went even further; he predicted a 15-hour workweek. Even Dwight D. Eisenhower, accepting the Republican presidential nomination in 1956, predicted an America in which people enriched their intellects, completing goals like obtaining advanced degrees. “Leisure … will be abundant,” Eisenhower said, “so that all can develop the life of the spirit, of reflection, of religion, of the arts.”

Leisure has never arrived, however, because wage stagnation forces Americans to work to pay for basic needs. The bitter irony is that even as Americans scramble to earn more, they’re spending more on frivolous items. According to the Commerce Department, Americans spend 11.2 percent of their incomes on unnecessary items, compared to just 4 percent in 1959. It’s the “acedia” of the Middle Ages, alive and well today.

For us, technology has been a mixed blessing. Prestigious universities have embraced online graduate education, allowing people access to intellectual opportunities and empowering them to earn more. American.edu Online, headquartered at American University, is an example of one of these programs. However, despite the advantages and flexibility provided by technology, many people aren’t taking advantage of resources that could make us happier and more fulfilled. Thanks to mobile devices and social networks, we live lives of constant interruption and distraction.

papers falling at The Free Financial AdvisorBusy People Aren’t Necessarily Productive

People assume that having idle time equates with laziness, which means that they also assume that busy people are getting things done. Productivity and busy-ness, however, are often mutually exclusive. People who value being busy all of the time often fail to set priorities. They constantly juggle activities, but they don’t do a good job at executing any of them.

Psychologist Anders Ericsson traveled to Berlin to study top-performing musicians. He quickly noticed that the best musicians practiced about 90 minutes per day and took a lot of breaks and naps. Many creative people deliberately cultivate leisure time to keep their minds free for insights. “I distrust the perpetually busy, always have,” author Mark Slouka wrote in “Essays From the Nick of Time.” “The frenetic ones spinning in tight little circles like poisoned rats. The slower ones, grinding away their fourscore and 10 in righteousness and pain.”

Finding Relief

To become less busy, more productive and happier, people should try becoming what author Greg McKeown calls an “essentialist.” In his book “Essentialism: The Disciplined Pursuit of Less,” McKeown offers some tips for defeating busy-ness:

  • Say “no” without guilt. Being invited to do something affirms us, but that doesn’t mean we have to do it.
  • Rest. People who are well-rested, like Ericsson’s musicians, perform better with less effort.
  • Retreat. McKeown recommends taking a three-hour retreat every three months to think about and adjust priorities.
  • Re-examine traditions. Just because something was fun once doesn’t mean that it has to be repeated weekly, monthly or annually.

Finally, McKeown suggests reducing busy-ness aggravators, like smartphone use, social media and consumerism. If we don’t, says McKeown, “we will be left feeling that our precious time on earth has been wasted doing things that had no value at all. We will wake up to having given up those few things that really matter for the sake of the many trivial things that don’t.”