Your Biz: What's The Word On The Street?

We all know about the word on the street. There's what we see on t.v., there's what's done in the corporate world or other industry, there's what's heard on the news, but the real deal - is the word on the street. That's right - what really happened? How are things truly perceived?

The question today is what's the word on the street about your business? How do people you market to really 'see' you? If people are referring you customers - what are those customers saying about you after purchasing the service or product? What is it that they were too 'nice' to tell you in person? What is it that others in your industry wish they knew you well enough to say, but ... well... don't?  We're all worried people may take our constructive feedback the wrong way, especially those we only know in passing, but may be in the same line of work that we are or in the same networks.

Now, here's the thing about the word.... sometimes it's just plain ol' ignorant. Some people don't mean you any good and their word on the street should be ignored. Don't get down about what they say because it's not constructive, but destructive. Listen ONLY to what makes your business better... any thing that demeans is useless. 

A 'suggestions' form on your website is one great way to get feedback, as well as anonymous customer surveys.

How about you? What are some things you are doing to find out what the 'word on the street' is about your product or service? What have you heard that has helped you improve?

-Dorethia

www.connercoaching.com

Mobile Banking ROCKS!

From the title you can tell that I'm a fan of mobile and online banking. It has made my LIFE and business so much easier. Why do I love it so much? Well, besides the fact that it saves me the time of having to actually go to the bank - here are a few other reasons.....

• Text messaging – your bank will text you if your balance gets low or there are other account updates … you don’t have to have a smart phone – any cell phone will do.
• Pay your bills, see balances and even send wire transfers, etc.  from your phone or computer.
• Link your business accounting system with your business bank account and transactions automatically download.... I {heart} this!
• My FAV! Chase’s QuikPay feature which lets you take a picture of your check front/back and BOOM – it’s deposited!

Is Mobile Banking Safe? 

Pretty safe, biggest risk is if you lose your cell phone.  If that happens make two (2) phone calls immediately:

1. Call the bank and ask them to block the banking app

2. Call your cell phone carrier and have your phone locked so it can't be used. 

Also, a techie friend says to definitely switch your BlueTooth off when you aren’t using it so no hackers can get into your accounts.  Keep the phone numbers to your bank, cell phone carrier & credit card companies etc. on a piece of paper, postcard, sticky note - something other than your CELL PHONE, in case it's stolen or lost.

Okay folks, welcome to the app age... embrace the tech! Happy Banking!

            

           -Dorethia

            www.connercoaching.com

*Disclaimer: While I was not paid to promote the Chase feature in this post, you can assume that anything I may share on my blog could be a paid affiliate. You can also be assured that I don't promote any product or service I don't believe in simply to receive an affiliate commission.      

   

Life Insurance is a MUST!

Not having life insurance is NOT an option. I had a conversation the other day about the stress added to losing a loved one when there is no life insurance and thought I'd share a few tips with you guys.

If you have a family -- each spouse should have between 7 and 10x's their annual income in life insurance. I'm a fan of term life insurance because it's uncomplicated, affordable and gets the job done.

For your children, you only need burial insurance of about $10,000 -- $15,000 -- based on the costs in your area.  Same goes for singles -- you also generally only need burial insurance. But, whether you are single or have a family, life insurance is also a great way to give to someone less fortunate, maybe a friend or family member or your favorite charity.

At the bare minimum -- everyone should have enough insurance to cover the costs of your plot, casket, headstone and funeral services. Being prepared takes the financial pressure off your loved ones who are already grieving. How many of us have been in a position of trying to collect donations for burial costs? Raise your hand! Mine is up! Let's be proactive and ease the burden for those we love!

Thanks for tuning in -- for more tips subscribe to  CONNERCOACHINGtv  - also visit  www.CONNERCOACHING.com

-Dorethia

How to Get FREE Stuff!

Monday nights mean #MoneyChat and this week we welcomed blogger Jackie Harper (@freeismylife) www.freeismylife.com - to help us save $$ by getting FREE stuff! 

#MoneyChat: Why do businesses have freebies?  How do they make money when they are giving things away?

Jackie: FREE is a form of advertisement.  Businesses take a portion of their marketing budget and they give products and services away to build trust, support, and name recognition in the community.  When someone loves a product or service, they will tell their friends and family about it. 

#MoneyChat: Is it easy to find freebies?

 It used to be you had to be "in the know" to find out about freebies, but now with the Internet, FREE is as close as your computer screen.  Besides my blog, (www.freeismylife.com), there are many other local and national blogs and websites that list free events and giveaways. Local libraries and malls have great free events and lots of local businesses have free events that include giveaways and free food.

#MoneyChat: How do I know if a freebie is legitimate?

Jackie: I like to personally check out as many of the things that I post on my blog as possible so that I can truthfully say that I tried it and it worked for me. I also do product reviews so that I can share my personal experiences. Some bloggers don't do that and they end up posting bogus coupons and deals. When you start to follow a freebie website, read the comments left by others to see if the information is accurate. If something is not right, people will start leaving bad comments immediately.

#MoneyChat: Can someone live a totally free lifestyle?

Jackie: No one can live totally free, but going to free events, utlizing giveaways, winning prizes, and using coupons, can bring more enjoyment to your life, without wasting money and blowing your budget. 

#MoneyChat: Is there a freebie that you use regularly?

Jackie: Yes, my son and I go to FREE advance screenings of movies at least twice a month by using a website called Gofobo (www.gofobo.com).  I use Twitter to find the gofobo movie codes so that we can see the movies for FREE before they are released to the general public. 

#MoneyChat: Are you into "Extreme Couponing"?

Jackie: Even though I love freebies, I am not a couponer by nature.  I am not into all the work that goes into grocery shopping with coupons.  But I do love to watch the TLC cable show "Extreme Couponing". One of the tips from the show that anyone can do is to write to the manufactures of your favorite items and ask for coupons.  I did this for my son's favorite frozen dinners and the manufacture kindly sent me some coupons to use. 

 

#MoneyChat: What websites can you recommend to get someone started in finding legimate freebies?

Jackie: There are literally thousands of sites, but here is a list of some of favorite  freebies websites:

 

1.   http://melissasbargains.com/ National mom blog for deals and  extreme couponing

2.   http://www.monroeonabudget.com Frugal living and couponing

3.   http://www.slickdeals.net National deals/freebies are posted by the readers.

4.    Here's the FREE on Your Birthday List http://on.fb.me/ikgMsY

-----------------------------------------------------------------------------------------------------------

So what was the GIVEAWAY? 

@freeismylife and @moneychatlive gave away 2 $5 giftcards to Starbucks.... our winners were....

@njdivaknr .... because she has a serious Starbucks habit and
@rj1975 ........for this #moneychat TWEET of the evening:

rj1975 Soul4L1 

@ 

@njdivaknr @freeismylife i can't afford #Starbucks so I go get gas station coffee and put in marshmallows and close my eyes #moneychat

Favorite Retweet Reply

------------------------------------------------------------------------------------------------------------------------------------

Thanks again to Jackie Harper (@freeismylife) who is the creator of the blog FREE IS MY LIFE www.freeismylife.com, a Detroit based lifestyle and product review blog. She has been blogging for 4 years and helps her audience spend their money wisely by telling them about freebies, deals and discounts and also reviewing special events, restaurants, technology, resorts, spas, beauty and fashion.  Follow her on Facebook and Twitter.

-------------------------------------------------------------------------------------------------------------------------------

Follow me (@DorethiaConner), @BenitaTyler & of course @MoneyChatLive on Twitter for more financial tips and Monday night chats! 

 

What TO DO and NOT TO DO With Wealth!

Here's the latest post from our weekly Monday night #MoneyChat. This weeks guest was Gail Perry-Mason (@waistreduction). 

Gail Perry-Mason is the Senior Director of Investments at Oppenheimer & Co. She has been featured in many publications including: Ebony, Black Enterprise, On Wall Street, The Washington Post and Associated Press.  Gail is also the co-author of 'Girl, Make Your Money Grow', a national best seller. She is currently working on another book, 'From a Full Figured Woman to a Seven Figure Woman - A Woman's Guide to Shifting Her Assets!' - Follow her  Facebook Fan Page for updates http://on.fb.me/kgCQ7I.

Q1.  I have inherited a large sum of money.  I don’t want to blow it- What is my first step?  

Be still and allow your money to be still until you have a home for it. I'd suggest you find a home for your money, build your savings and pay off debts. (Write down all debts) Also, make sure you put funds away for retirement planning.

Q2.  Once I’ve funded my emergency fund and paid off my debt, what are some other ways to grow my money?

Stop paying interest and earn interest through investments, you can meet with a financial advisor and set up a plan. Be sure to diversify your assets - never put your money in one investment.   

Q3. How do I manage the funds I have saved?

Managing your money is more difficult than making it.  Set up a B.O.D. (Board of Directors) and gain knowledge. Who's on this Board?

a. Financial/Investment Advisor

b. Lawyer

c. Financial Coach/Credit Specialist

d. Agent if you need one 

Q4. How do I determine my net worth? 

Your net worth is a way to measure your financial progress. It is simply your assets (what you own) minus your liabilities (what you owe). 

So in your assets column - write down things of value: stocks/investments, art, collectibles, value of vehicles and real estate/homes, cash on hand. Then subtract your liabilities: credit cards, student loans, other debt, outstanding amount owed on vehicles, homes, etc.

The balance is your net worth!                  

Q5. Do I still need a budget if I’m a millionaire?

You won't stay a millionaire if you don’t have a spending plan.

Q6.  How do I handle family & friends who now think I’m an open wallet?

Tell your friends not to bank on you. Give them creative ways to create income vs giving them a handout.  They need a “hand up”. Money hurts friendships that are priceless.  Never exchange money. If you give it, don't expect it back.  

Q7.  I want to invest some of my money in business ventures, what should I look for?

Realize the risks involved, but also rewards.  Make sure you have expert advice; have business attorney review proposals and business plans prior to signing on the dotted line. Are you the only one investing? That's a red flag to back away. Always monitor your investment and know what is going on in the business.

Q8. Any final tips so we don’t mismanage the wealth we’ve accumulated? 

Put a moratorium on spending.  We have to stop putting our trust in money and put our money in a trust! www.legalzoom.com  Also, compound interest is your best friend!  Put a Do Not Disturb sign on your money. Calculate the interest gained on investments here -> http://bit.ly/kR7ubP 

Follow me (@DorethiaConner), @BenitaTyler & of course @MoneyChatLive on Twitter for more financial tips and Monday night chats!

-Dorethia

www.connercoaching.com

dorethia@connercoaching.com

Getting Your Kids Interested in #STEM (Science/Tech/Engineering/Math) Careers!

As I said in my previous post, being the numbers cruncher that I am, I attend various economic and financial forums. At each one, an expert shares with us the 'State of the Economy'. The recurring theme is that STEM careers are the future. So we wanted to devote a Monday night #MoneyChat to helping parents prepare their youth to jump on the wave.

We interviewed @LaToniyaAJones an educator and founder of P.O.W.E.R Organization which embraces, engages, and empowers at-risk youth ages 4-15 in Metropolitan communities to increase their proficiency with math. Below are her tips for preparing your children and teens for the wave of the future!

How do we get youth interested in STEM classes in and outside of school?

Youth develop interest in new areas when connections are made to what they enjoy. Youth enjoy being heard and will in turn listen to your advice. Ask their rationale for not selecting certain courses. Show them the list of the Top Future Careers of 2030 (http://bit.ly/b46rH0) via FastCompany. Use technology to help them learn and explore STEM.

What are a few effective ways to explore #stem careers with your youth?

Relevance, dollars, and cents will get their attention. Show them the top careers in demand and let them decide which may be interesting to them.  Students can also watch video interviews at www.thefutureschannel.com which detail the roles of various careers.

Also check with your local community college - there may be classes for kids to introduce them to things like app development, science and engineering. These classes are normally made interactive and fun for them. 

What are a few trends supporting the urgency for more STEM education?

In 2010, only 43% of college grads who took the ACT passed the math benchmark. By 2018, a shortage of 3 million workers with U.S. college degrees is predicted. 

Why should we be concerned with improving math skills at home?

As your child’s first teacher, you can plant powerful seeds and habits. Speak positively about math, science, money, and their benefits to help youth face vs. run away from challenges. The more skills we have, the better prepared we are to compete (interpersonally and in life). Higher math skills lead to higher income potential.  Understanding the math behind money leads to the ability to diversify resources and build wealth.

How do we cultivate success in #stem from home?

Encourage kids to think about different outcomes to build problem-solving skills. Always ask: “why, what else, what if” to improve critical thinking skills. Decrease anxiety by telling them that learning math may be challenging (not hard) but is necessary. Celebrate every milestone. 

Enroll in family focused programs and activities like https://www.powertheyouth.org  in your area. You can also do fun science projects at home, they aren't just for school. You can Google projects based on your child's age or pick up a book from the library.

For youth that may be challenged in science or math - immediately seek out effective tutoring. There are also plenty of videos like this one on YouTube that help youth understand on their level.

How can our family use technology to increase skills/interest in STEM?

Assign the task of putting price comparisons into a spreadsheet to improve money management, negotiation, and tech skills. When at the grocery store have them compare lbs, oz, etc. vs. price for the best deal. There are also several free math apps for the ipad/iphone for practice. Encourage youth to find a way to develop products or services that solve a problem they see everyday.

Resources: 

What is STEM?

Green Jobs (Fast Company)

Math Games for Kids

The Web Academy - Online website and app design classes - FREE

Join us every Monday night from 8p.m. - 9p.m. ET for #MoneyChat - an online Twitter Convo about all things money and biz hosted by yours truly! Follow @DorethiaConner & @MoneyChatLive

“Math and Money” are like great pairs: music+ipods and peanut butter+jelly. A working knowledge of one enhances the other and can lead to lucrative careers. ~ Latoniya A. Jones

Got Kids? Tune in to #MoneyChat Monday Night! 6/6 8-9p ET

As many of you know, in addition to financial empowerment, education is also near and dear to my heart. Ironically, the two compliment each other. Every economic forum I attend forecasting the hot careers (highest paying, most in demand)  in the next 10-30 years have something to do with Science/Tech/Engineering/Math (#STEM). These careers are WHAT'S NEXT!  How do you get your kids (whether elementary or teenager) interested?' ...So they can compete?  

Translated:  make good money and get out of your house one day?!

The truth is that career path is tied to income. The question is not only will your children be able to manage their money as an adult, but will they have ANY to manage? Whether you have toddlers or teens, it's important to know how to prepare them for a successful future - well we're going to 'chat' about it Monday night with the Math Lady herself, Latonia A. Jones. She'll share creative ways to  introduce your children to #STEM career paths.

LaToniya A. Jones  has more than 15 years experience in education. Her career has afforded her an opportunity to serve as a math instructor, consultant, principal and speaker at state conventions. (Minnesota, Michigan, Ohio). Ms. Jones is the Owner/Lead Consultant of P.O.W.E.R. Institute, LLC. In her role as a higher education administrator, she also serves as Department Chair for Developmental Education at Baker College of Auburn Hills.

She had the honor of presenting at the 140 Characters Conference (so cool) - featuring the power of Twitter in the math world- in Detroit (October 2010)   Ms. Jones has received numerous awards, recognition, and grants  including recognition by PineSol Clorox as a "Woman Making a Powerful Difference"

Visit: www.powertheyouth.org

Follow us on Twitter and Join the 'Convo': @LaToniyaAJones @DorethiaConner @BenitaTyler  oh and @MoneyChatLive!

WHAT IS #MONEYCHAT? Glad you asked! Click->HERE (or copy and paste into your browser, whatever works)

Why Oprah is My Shero

Many women have shaped my world - some I've had the pleasure of meeting and others I have not.  Oprah, falls in the latter category. People expect a lot of her, they say she gives too much or she doesn't give enough. It comes with the territory, when you achieve great success, others believe they can tell you what you should be doing with your money.  I believe in giving, I'm a giver, but I don't think anyone HAS TO... although Oprah does more than her fair share, which was evident at her Farewell Spectacular

I honestly would not care if Oprah never gave a dime to anyone, she did enough when she stepped on stage 25 years ago. I was a little girl and up until then I had not seen anyone that looked like me hosting a talk show. Here was this dark skinned woman who didn't fit the mold of most women who were on television. She wasn't supermodel thin and didn't come from the white picket fence background.

I could relate - there's no white picket fence in my story either, and as a pre-teen, I sat straight up whenever Oprah was on television. I can't tell you what any of the shows were about, I was just enthralled with the fact that this fabulous, intelligent, black woman was on national television and EVERYONE was listening to her. Her programming was uplifting and positive. I wanted to be Oprah when I grew up, I was determined to have my own talk show, I was going to study journalism and continue on the trail that she was blazing. I wanted to empower people, encourage them - show them how to BELIEVE they could live a great life. 

As I grew up, my career goals changed, but the mission did not. Uplifting and empowering others has always been at the forefront of my personal journey. As a financial coach, I meet people at all income levels who are facing challenges in their finances. I'm able to encourage them, offer hope and strategy.  I know my 'virtual' mentors, such as Oprah, are the reason I am in a position to equip others to be successful in every area of their lives and I am grateful. 

There aren't enough thank yous that I could say to Oprah for the impact she has made on my life. Her presence proved to me at an early age that there was nothing I could not do. 

So, I raise my glass to you Oprah, congratulations on all your accomplishments and all the lives you've changed. I'm confident OWN will be a great success and wish you nothing but the best in this next phase of your life!

What About You?  Who are some of your heroes/sheroes? Who is it that paved the way for you?

"What material success does is provide you with the ability to concentrate on other things that really matter. And that is being able to make a difference, not only in your own life, but in other people's lives."  .....Oprah Winfrey 

Your Financial Coach, 

-Dorethia 

www.connercoaching.com

248.325.8016 | 800.962.2491