Life Skills

4 Tips to Help You Learn from Your Defeats

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In recent years I’ve had the great privilege of visiting an alternative high school that serves the neediest and most challenged of students. One particular encounter with a high school  principal—a man who had given his life to reach and impact disadvantaged youth—left me inspired and encouraged. His stories of the ups and downs of working with that student population reminded me of the unforgettable introduction to “ABC’s Wide World of Sports,” when the narrator would dramatically announce, “…the thrill of VICTORY and the agony of DEFEAT.” Seeing a homeless student with a violent gang background graduate from high school—victory! Seeing another go back to the streets—defeat.

No matter where our life path takes us, we’ll experience victories and defeats. Whether it’s sports, contests, career, dating, education, or business ventures, you win some and you lose some. Most of us don’t have too much difficulty with the winning part.

But sometimes, we don’t win. But does this mean that we’ve technically lost? No!  Many of our “losses” prepare us for our victories later on. They can be a major stepping stone—that is, if we choose to learn from our defeats.

Vince Lombardi of Green Bay Packer fame used to say that winning “is the only thing.” Famed basketball coach John Wooden, on the other hand, simply asked his players to play their best, and that was good enough for him. Although he set a very high bar for his players, he was more process driven than outcome driven.

I’m probably more in John Wooden’s camp (despite growing up 20 miles from Green Bay!). Winning may be an important goal, but I don’t believe we’re losers if we don’t finish in first. The key is to learn from a defeat and use it as input for the next practice and for future strategy.  Want a couple tips for making this happen, just in case? Try these:

  1. Don’t see a defeat as an “end all.” In most cases, it’s not the end of the road. Always be on the lookout for new opportunities, new relationships, etc. Something better may be around the corner! Consider if it’s a teachable moment and a catalyst for personal growth. As Helen Keller said, “A bend in the road is not the end of the road…unless you fail to make the turn.”
  2. Be willing to step out of your comfort zone. Change is not always a bad thing.
  3. Accept that you are not always right and you won’t always have the best strategy. Seek out advice and perspective from others.
  4. Approach situations with the mindset that you’re going to give it your all. You can’t be dissatisfied when you’ve done your very best!

It pays to humbly celebrate your victories and gain and grow from your defeats. You’ll be positioned you to do better the next time (perhaps with a better outcome!), and it will take some of the sting out of your losses! Helen Keller had a great perspective.

How have you handled your victories and losses? Do you view a short-term loss as a learning experience?? Are you satisfied with the outcome if you did your best?

10 Tips to Help You Master Your Time

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Wow, where has the time gone? It seems like just yesterday when we toasted the new millennium, but here we are, about to ring in 2015. Sure, it’s a cliché phrase, but time really does fly by.

Time’s a funny thing, isn’t it? When we’re having a blast, it feels like someone is pushing the “fast forward” button. In contrast, if we have a two-point lead with three minutes left in the game, it feels like an eternity. When we’re suffering through a valley, we can’t wait for time to pass by.

Whether time flies or moves at glacial speed, we still have 24 hours in a day, seven days in a week, and no choice in the matter. We use it or lose it. And, because time is one of our most prized possessions, we need to use it wisely.

How can you become a good manager your of time?

Simply practice these tips:

  • Treat your time as a precious asset with limited capacity (this mindset is huge!)
  • Organize a to-do list by urgency (deadline) and priority (importance). Take both into account when deciding what to focus on each day.
  •  “Block” your time (i.e., group it in 30-60 minute intervals without interruption) in order to complete your highest priority assignments. Avoid interspersing lower priority tasks within your high priority assignment intervals. Take control!
  • Don’t hesitate to politely tell someone that it’s an inconvenient time for you. Interruptions can destroy your productivity if you allow it. Always saying “yes” is not necessarily a good thing!
  • Learn to multi-task your lower priority responsibilities. For example, I rarely watch television without doing something else like reading the newspaper or responding to emails.
  • Keep your cell phone somewhere else when you need focused time. The temptation to answer calls and texts is a major distraction. Smart phones can be our worst enemy if we aren’t careful.
  • Find your best venue for focused work. Is it your home office? A coffee shop? Your patio?
  • Take periodic breaks. Studies show we’re less productive when we work over an hour straight without a five-minute break. Breaks help our mind recharge.
  • Respect and honor the time of others by being punctual. You’d want them to respect your time, too.
  • Always remember that you can’t recover the time you waste!

The older we get, the quicker time flies by. Regardless of our stage in life, it’s never too late to improve your time management skills and resources. Becoming a wise time manager is an admirable New Year’s Resolution. Is it yours?

How productive are you with your time? Do you view it as a precious asset and focus on your most important priorities? What are some ways you have learned to become a more effective time manager?

6 Steps to Help You Become a Masterful Decision Maker

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Decisions, decisions, decisions. Some days (like maybe during this month!) your biggest decision is no larger than what gift to choose for that hard-to-buy-for person on your Christmas list. Other days, it seems the weight of the world is bearing down on your shoulders and the impact of YOUR decision could be life changing—for you or for others.

Often, people make important decisions impulsively and based on emotion rather than on a thorough and objective evaluation. However, you needn’t be this way. Making tough decisions is never easy, but if you practice the following six decision steps, your odds of making the right one will be significantly greater:

Step 1: Get the facts.
Gather all of the facts you can, along with any accompanying assumptions. In some cases, you’ll have to use your best guess.

Step 2: Determine your key decision criteria.
Identify the key factors in making your decision, prioritizing your criteria from most to least important.  
 
Step 3: Identify all of your alternatives.
Consider all realistic options without prejudging. No choice is a “bad choice” at this stage.

Step 4: Engage wise counsel.
Solicit the views of experienced and insightful people who know you well and understand the decision at hand. (If you’re a person of faith, this is a good time to pray!)

Step 5: Conduct an objective pro/con analysis for each option.
Record the advantages and disadvantages and weigh them by importance. This is a particularly valuable step for visual learners since the right decision often emerges when the pros significantly outweigh the cons.

Step 6: Consider your “gut instinct” or intuition.
Chances are, by the time you’ve completed the fifth step, your best choice will have emerged. However, the final test is what your intuition is telling you. If, after completing steps 1-5, you have a nagging feeling that your preliminary choice isn’t right, sleep on it.

If you’re still uncertain the following day, have a heart to heart talk with yourself and your most trusted advisors. This will either reinforce your preliminary decision (which will provide the needed conviction) or it will compel you to more seriously consider your other alternatives.

When I look back on my own life, I can honestly say that I’ve never made a major decision that was personally wrong for me. I think this is one reason that I have very few regrets—and that’s something I’m forever thankful for!

How have you approached major life decisions up to this point: Are you diligent and methodical or are you more casual in your approach? How might the six-step approach identified here help you make wise decisions? Share your responses below; we’d love to hear from you!

Finding That Job!

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One of the greatest unknowns for college students is predicting what the job market will be like when they graduate. After all, it’s four years down the road and lots can change in the meantime. The answer will be based on the state of the economy and the supply and demand picture for their career choice. Unfortunately, these factors are simply outside of our control.

Even if a young person’s path doesn’t include college, they’ll still be facing this kind of uncertainty. If the unemployment rate is low, chances are they’ll have little difficulty landing a good job. If it’s high, who knows how long it could take? Plus, they’ll have to work that much harder just to get their foot in the door.

So, how can all of us help? What are ways parents, educators, mentors and friends can help young people find the jobs they’re looking for—and progress once they find them?
Young adults need to be savvier and more competitive than ever to find, land, and advance in the jobs of today’s work place. Here are some suggestions you can share to help position them for a thriving career:

1. Use your existing networks. No matter how talented we are, we all need people who will go to bat for us, both personally and professionally. Their invaluable assistance can take the form of introductions and connections, references and advocacy, decision-making in our favor, an information source, or general help. They help us gain access to strategically important people. It’s like having our very own sales force!

The employment recruitment process has changed night and day since I was younger. Nowadays, it’s all about online applications that seem to disappear into the proverbial black hole—it’s SO impersonal and frustrating. Somehow, some way, our application needs to stand out. No doubt about it, the best way is to have an insider advocating on our behalf. It adds a measure of dependability and reassurance to the hiring manager, and that’s huge. It may not land us the job, but it helps get us into the game.

2. Broaden your base of employment prospects. Spread your net wide. Talk to others in your field. Read trade journals and industry bulletins, blogs, and newsletters. What’s going on in your industry of choice and where are the jobs? There are likely companies for which you could work that you haven’t even considered. My editor’s son is a land use planner who works for a county government. He recently discovered that a large aircraft manufacturer in our state regularly hires land use planners. He was surprised; he’d never even considered the thought of working for a company like that. Now that he knows, it’s an avenue he plans to pursue in his next steps.

3. Be flexible with respect to location. This point is short but important. Many times you’ll have to go to the job; it won’t come to you. The more flexible you can be about this, the more marketable you are.

4. Develop your competitive edge. Our world is much more competitive than ever before. Our economy has become service-oriented and knowledge-based, which has changed everything. Now, you have to demonstrate something special (i.e, skills, experiences, and achievements) in order to land the job and advance in your career. Together, these make up your competitive edge. Consider what would stand out about you to future employers during your eventual job search. Go the extra mile to become better qualified through experiences and continuing education. If you’re lacking a skill or a professional qualification, attack it with full force! Demonstrate an attitude of continuous improvement and a commitment to excellence. Show results and impact. Create great personal stories that will inspire employers. If you don’t, remember that someone else will—and they’ll wind up with your job or promotion!

This is only part of the picture! Join us next week for part two of this blog: How to Market Yourself and Move Ahead in Your Career Field.

How have you found and moved ahead in your job(s)? Do you think things are easier, harder, or the same for young adults in today’s job market? How can we help encourage students in finding and landing the right jobs? We’d love to hear your thoughts?

Positioning Students for Workplace Success

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Are the young people under your supervision—children, students, or employees—prepared to soar in their eventual career? Not just to land the job, but to be a workplace MVP?

 

With high youth unemployment and all-consuming scholastics and activities driving their schedules and priorities, many of today’s young adults are entering the work force sorely lacking the skills and maturity they need to thrive in the real world. We hear from employers all the time: “They may be book smart, but they’re certainly not life smart,” or, “They can write a resume and complete an application, but they lack the intrinsic qualities and life skills we need in our employees.” Many students understand how to succeed in the “front end” (resume and interview skills), but aren’t trained to succeed once they land the job.

 

At LifeSmart, we’re excited to announce our newest resource designed to help create future workplace superstars! Our new DVD, How to Be an MVP Employee. offers invaluable perspectives from employers and four road-tested strategies for succeeding in any career:

  • Selecting a career that plays to their natural strengths and interests
  • Modeling the qualities employers value
  • Delivering on-the-job excellence
  • Contributing to their employer’s success

 

This 45-minute live presentation at Appleton West High School includes illustrations, skits, training, and strategic insights to promote career readiness and workplace excellence. Viewers will gain practical wisdom about what separates those who soar from those who stagnate in their careers.

 

For $79, you can bring this valuable training into your own classroom or group. How to Be an MVP Employee will help prepare the young people in your life to reach their career heights and to succeed in the increasingly competitive landscape of today’s workplace.

 

For more information or to order, call (920) 319-3169 or email at dtrittin@dennistrittin.com.

Financial Literacy: Keep It Simple!

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As a nation, we have been witnessing a tragedy of epic proportions. Debt, deficit spending, and credit card use have taken control of the lives of millions. The result has been skyrocketing bankruptcies and enormous stress on individuals and their families. How can we avoid this situation? One way is to AVOID the credit card trap altogether!

           

I grew up in a family with a very modest income. However, we were never financially strapped. My parents’ method of managing their finances was a simple one, but it worked. They stuffed with cash for key expenses and lived on what was inside. No credit cards, no loans, no overspending. No more money in the envelopes meant no more spending. Simple. I have adapted my parents’ conservative, simple approach through budgeting and banking and we’ve always lived financially stress-free.

 

The same is not true for the majority of Americans. The credit crisis is enormous on both a national and an individual level. Bankruptcies are at a record high and most families would say that they are experiencing at least some level of financial stress. How did this happen? A couple of things have caused it:

 

·      The widespread availability of credit cards, coupled with a lack of discipline to use them responsibly (studies show spending via credit cards is substantially greater than cash only)

·      Financial literacy is not a priority in many education institutions, despite the importance of budgeting and investing in daily life

·      The rise in consumerism and the strong focus on buying “things” in our culture

 

The long and short of it is that easy access to credit cards and loans has given consumers a false sense of financial security. This lures them into spending more than their income can support. The debt builds and accrues interest, making the monthly payment grow every month. Today’s average family has several credit cards with monthly balances well into the thousands? Eventually, there has to be a day of reckoning and these large balances and interest charges MUST be tackled.

 

Fortunately, you don’t need to be a rocket scientist to live debt free. It’s easy—just be disciplined and abide by this basic principle: Use credit wisely and sparingly and resist making purchases if you can’t pay with cash. Keep it simple—avoid the credit trap and you’ll relieve your financial stress.

“Credit buying is much like being drunk.

The buzz happens immediately and gives you a lift. The hangover comes the day after.”

Joyce Brothers

 

Do you have some good strategies for (or questions about) avoiding or overcoming credit card spending and debt?  Do you keep it simple? What’s YOUR method? Jump into the conversation on my website and leave your comments. Then keep the conversation going: please forward this to friends and encourage them to sign up for our weekly email at www.dennistrittin.com/newsletter.aspx..

 

5 Tips for Getting SMART about Retirement

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When you envision retirement, you probably don’t see yourself depending entirely on Social Security as your main source of income. Unfortunately, many people do, and are alarmed at how little money they have to live on in their golden years. Consequently, many seniors are heading back to work for some “financial supplements,” which is also affecting job opportunities for younger people.

 

It’s time to get SMART about retirement—and here’s a catchy acronym to get you started. The five tips in this acronym will help you develop an investment program now that will give you the financial freedom for later on in life: Start early and Make room in your budget, knowing the growth of your wealth is a function of the Amount you invest, the Rate of return you earn, and the Time period over which you invest.

 

S—Start early

It is never too early to begin strategically planning for your financial future! If you only take away one thing from this blog, may it be this: beginning your investment program as soon as you start your career should be a top priority. By investing early in a long-term program, you’ll have the best chances of building substantial wealth for your retirement. You might be thinking, “Why now…I’m not retiring for 30 years!” The answer is simple—the power of compounding your returns over many years is enormous. Here’s an example:

           

If Brad invests $2,000 per year at a 7% return from age 18 to 27 and lets it grow at that rate until he’s 65, he’ll have a much larger nest egg than Madison, who waits until age 31 to start investing $2,000 each year until age 65. That’s right! Brad’s $20,000 produced greater wealth than Madison’s $70,000! So, start investing ASAP!

 

M—Make room

With money, come choices and tradeoffs. Each time we buy now, we lose the opportunity to buy something of even greater value in the future. It takes self discipline to resist the now for the sake of the future. There’s no getting around that making room in your monthly budget to invest is the only way to build assets for your future.

 

A-the AMOUNT you invest (more is merrier)

The more you invest, the greater (and sooner) your wealth will grow. Strive to invest at least 15% of your income for your retirement, and take this amount into account for your monthly budgets (while considering your employer’s plan). By doing so, you’ll significantly supplement your Social Security income. If you want a retirement lifestyle similar to your career years, you simply have no choice.

 

R-the RATE of your return (higher is happier)

It’s not as intimidating as it sounds. The higher the percentage rate of return after expenses, the greater the wealth you’ll build. Develop a well-diversified portfolio of stocks and bonds that fits your risk profile and beats inflation. The earlier you start, the greater risk you can afford to take and the more wealth you’ll accumulate.

 

T-the TIME period over which you invest (longer is better)

Remember, it’s a snowball effect. The longer the time period that you invest, the more wealth you will accrue. A $10,000 investment with a 7% return grows to over $76,000 in 30 years. That same investment is worth only about $20,000 in 10 years. Make sure time is on your side!

 

           

Being SMART about your retirement takes discipline, but the impact is astounding!

 

In what ways have you begun planning for your retirement? Have you followed these SMART steps? What challenges or obstacles have your run into? We welcome all of your questions, comments, and suggestions!

 

What’s on Your To-Do List?

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Sometimes I wonder how we all survived before sticky notes. They sure come in handy for jotting down my daily reminders and holding myself accountable!

 

The discipline of writing out a daily prioritized task list (organized by importance and urgency) is a hallmark of a productive person. I begin each day with a to-do list, and it certainly has made me more focused and effective. (And, yes, when unexpected items arise, I add them to the list and cross them out after completion. There’s power in a sense of accomplishment!)

 

Here’s an idea. What if we took this concept beyond its daily application and take a “sticky pad” approach to planning our lives? After all, the most successful people begin with dreams and then establish goals and plans to make them come true.

 

How can the sticky note approach work for you?

 

Poor or random planning puts your dreams in jeopardy and, at best, makes it take that much longer to realize them. But, even if you’re not naturally a goal-setter, it’s not difficult to become one.  Start by imagining what you want your life to look like. What are the large-scale goals you hope to achieve? Think of areas like your education, career, service opportunities, family, finances, health, experiences, passion areas, and interests.

 

Once you’ve established your long-term goals, you can set some shorter-range goals that will help you achieve them. You can set one-year, six-month, and one-month goals, all of which will ultimately contribute to the larger picture.

 

At the same time, don’t forget those daily to-do lists!  You’ll be amazed how much more you accomplish. It doesn’t have to be a fancy leather-bound day-timer to keep you on track.  Many times all you need is a vibrant-colored sticky note placed somewhere visible to remind you what you hope to accomplish that day! Oh, and once all your items are checked off the list, be sure to take some time to celebrate for a job well done. You deserve it.

 

“If you don’t know where you are going, you will probably end up somewhere else.”

Lawrence J. Peter

 

What kinds of goals have you established for the short-, intermediate-, and long-term? What strategies have you learned to help accomplish them?

We’d love to hear your ideas!

 

 

 

8 Ways to Communicate You Care

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Valentine’s season reminds us of the value of relationships—and not just romantic ones.  Not only do sweethearts profess their admiration and affection for each other, but so do parents to their children, children to their teachers, friends to friends, and so on. In a rare creative moment, I once wrote a love letter using strategically placed candy hearts to share my thoughts. Bingo!

At the same time, Valentine’s Day can expose our vulnerability to these conflicting priorities: relationships versus things. While our society has progressed in many respects over the past 50 years, it’s clear that we’ve regressed in terms of relational health and depth. Sadly, with the distractions of technology and busyness, it seems to be getting worse.

Have you thought about what you really value in life? What are you communicating about your priorities to the ones you love—whether intentionally or unintentionally?

Relationships are enduring—things are not. The way we communicate this to our loved ones lies in how we prioritize our time, attention, and money. You can use the following list as either a self-check or a to-do list. Either way, we hope it gives you some inspiration and ideas for communicating your love to others:

1. Be fully in the moment. When you’re with someone, be completely engaged (not on your phone, your Facebook, your Instagram, your Candy Crush game, etc.)

2.  Keep family and close friends at the top of your priority list in terms of time, energy, etc. Don’t just give them leftovers.  They’ll notice, even if they don’t mention it.

3. Focus on the important, not the urgent.  Sometimes maturity and experience are the best teachers on this lesson, but the sooner it’s learned, the better! Our tasks may seem urgent, but our relationships should take priority. This is especially important when our children want or need to talk.

4. Tune in to their uniqueness. Gifts, experiences, and expressions engender different responses from each of us. What uniquely means the most to them? Customize your giving wherever possible and you’ll surely hit the mark.

5. Express appreciation regularly. Be grateful for the people in your life and tell them how much you appreciate them. You don’t always have to communicate with outward displays of affection. Sometimes simple actions, like saying, “I appreciate you,” packing a family member’s favorite lunch (with a note in it), or doing an unasked favor can be just as meaningful.

6. Praise them in front of other people.  Say something nice about them when they are in earshot. You will help build their self worth and indirectly communicate how much you value them. (Great parenting pointer!)

7. Set aside time and money for special occasions and gifts. This may be harder for those whose “love” languages are not gift giving or quality time.  But for those who really need these things in order to feel loved and appreciated, they mean the world.

8.  Forgive offenses quickly and let them go. After all, you’d want your loved ones to do the same for you, right? Related, pick your battles carefully and when arguments do arise, keep your cool.

It pays to examine how we prioritize our time, energy, and finances to build strong relationships with family and friends. Do you the people you love know you care? How so?

Here Today, Gone Tomorrow? Learn to Analyze Your Spending

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When it comes to “budgeting,” many find it right up there with dieting and root canals in terms of the pleasure factor. However, tracking your spending and disciplining yourself to live within your means and save for the future is definitely worth the effort. If budgeting is not a natural bent for you, don’t give up on the idea altogether. You just need a willing attitude and some good resources to help you stay disciplined and on track with your finances.

How do you stay on top of your financial game?

The basic report you should complete (on at least a quarterly basis) is a cash flow statement. This report tallies your income and expenses in several key categories. It’s the surest way to see whether you’re living within your means and where your spending may be excessive. After subtracting all of your expenses from your income, you’ll see whether your net cash flow for that period is positive or negative. Remember, the goal is positive, positive, positive!

There are many online tools to help analyze your cash flow  (e.g., www.quicken.com and www.mint.com). In the past, analyzing cash flow was a lot more work—you had to save your receipts and organize them manually. But nowadays, if you use a debit card and checks for your purchases and bills, and you link your bank account to your online budgeting program, it will automatically categorize your spending and indicate where your money is going. It will even send you an email in the middle of a month to let you know if you’re over budget in a particular category (it knows if you’ve been bad or good)!

Even if it’s just a 75-cent daily newspaper or a $3 latte as you head to work each morning, make sure you account for every single dollar you spend. That’s how you can see exactly where your money is going. You may be surprised when you look at your spending after even just a couple of weeks. The nickels and dimes add up!

Analyzing spending and developing budgets are great skills to develop in the young people in your life. For young adults just starting out, tracking their spending will help determine how much they can afford for rent/housing and a car, significant expenses each month. How much should average living expenses cost? The following are typical expenditure categories and the rough percentages each should represent:

  • Housing/rent (includes utilities)    30-35%
  • Household/personal items                     20
  • Autos/transportation                              10
  • Charitable giving                                      10
  • Savings and investments                        10+ (not an expenditure per se)
  • Entertainment and leisure                       7
  • Debt/loans                                                  5
  • Insurance                                                    5
  • Miscellaneous                                             3

While the above percentages are ballpark figures (and they do change through life),  spending more than five percent above these levels is getting “up there,” with the exception of savings and investments and loans for new college grads. It’s also important to reflect periodic expenses like gifts and vacations in a budget. Holiday spending tends to spike in December, as does vacation spending in the summer. Therefore, it pays to update statements on a monthly or quarterly basis to avoid underestimating expenses. Compare actual spending to these ballpark figures, and you’ll have a good sense of whether you’re overspending in particular categories. And, take special precautions against buying too much house or car—these fixed expenses get many people in trouble.

Wise financial planning requires knowing where your money goes. You’ll make better financial choices, build a stronger credit rating, and develop good savings habits that help build wealth.

Do you track and analyze your spending?  How do you do it?  Have you trained and modeled this to the young adults in your life and, if so, how? We’d love to hear your insight and experiences!