Live The Second Half Of Your Life Better

I turned 50 this year. It wasn’t nearly as bad as I thought it would be. My body didn’t disintegrate. My mind still makes the roll call. It has been the occasion of some trifling contemplation. At 50, you are at the crest of your life. That means you can, for the first time, see…

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Easy Come, Easy Go

“Money, it turned out, was exactly like sex; you thought of nothing else if you didn’t have it and thought of other things if you did.” – James Baldwin (Nobody Knows My Name, 1961) In a recent Daily Reckoning message (www.dailyreckoning.com), Bill Bonner made an interesting point about money, one that will make sense to…

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More on Trusting Employees

The piece I wrote about trusting employees (Message #274) — about the kind of safeguards you should effect against pilferage — provoked a lot of objections. KM, a corporate trainer and a good friend, took exception to my attack on academics. “That was such crap,” she said. “You have to think a little deeper.” JF,…

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How Often Should You Change Things?

You know how bad I think most small-business periodicals are. Fortune Small Business might be the worst. Staffed by a boatload of (I’’m sure) very smart and capable (mostly) young women, it is full of feel-good stories and equal opportunity reporting. There is also an inexcusable level of innocence when it comes to commentary and…

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Good Manners Are Critical At Business-Related Social Functions

When you are attending a business dinner (or some other business-related social function) with your customers and colleagues, you have an opportunity to improve or degrade the opinion others have of you. Only a foolish person would ignore this fact. Here are a few recommendations, all based on very recent observations: 1. Do not drink…

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“Winning Ways” And Team Work

“A team should be an extension of the coach’s personality. My teams were arrogant and obnoxious.” – Al McGuire (former basketball coach) In Dick Lyles’ book “Winning Ways,” a Ken Blanchard parable on success, Albert is hampered in business by his inability to work as a team member. His supervisor tells him to visit a…

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Living Rich: Becoming A Collector

Last week (in Message #291), we talked about how important it is to reward yourself whenever you’’ve taken a significant step toward your wealth-building goals. If you secure a new line of income, get a new account, get paid for a freelance consulting assignment, or even get a big raise in salary, you should give…

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Don’t Betray Your Partner/Boss

What do you do when someone who works for you walks into your office and says, “I have something I want to tell you, but you must promise you won’t tell your partner/boss?” If you agree to listen, you have made a serious mistake. You have betrayed the fundamental relationship you have with your partner/boss,…

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Living Rich: PS’s Story

On the subject of how much of your income you can realistically save, PS writes, “It’’s not very hard to make $100,000 and save $50,000 a year. I’’ve been saving half of my income above $50,000 and it’’s really easy. This year, I’’ll make around $75,000 and I’’ve saved over $30,000. It doesn’’t require any…

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What To Do When Your Marketing Fails

Sooner or later, every business reaches a point at which it has a hard time marketing its product or service. The promotional and advertising campaigns that worked so well in the past work poorly or not at all. The first response of most entrepreneurs is to do what they’ve been doing except HARDER and BETTER.…

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More On Pinching Your Pennies

I can tell what kind of retirement plan an entrepreneur has from the car he drives,” says Jonathan Pond, NBC’s guru financial planner. “To spend is human,” he says, “but to save is divine.” According to Pond (who drives a Toyota Camry and refuses to buy a cell phone), most people spend more than they…

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