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Strengths Based Leadership: Great Leaders, Teams, and Why People Follow

In recent years, while continuing to learn more about strengths, Gallup scientists have also been examining decades of data on the topic of leadership. They studied more than 1 million work teams, conducted more than 20,000 in-depth interviews with leaders, and even interviewed more than 10,000 followers around the world to ask exactly why they followed the most important leader in their life.

The results of that research are unveiled in Strengths Based Leadership. Using Gallup’s discoveries, authors Tom Rath and Barry Conchie identify three keys to being a more effective leader and use firsthand accounts from highly successful leaders — including the founder of Teach For America and the president of The Ritz-Carlton — to show how each person’s unique strengths can drive their success.

A new leadership version of Gallup’s popular StrengthsFinder assessment helps readers discover their own special gifts and specific strategies for leading with their top five strengths. Filled with novel research and actionable ideas, Strengths Based Leadership will give you a new road map for leading people toward a better future.

Book_StrengthLeadership

Start with Why: How Great Leaders Inspire Everyone to Take Action

Why are some people and organizations more innovative, more influential, and more profitable than others? Why do some command greater loyalty?

In studying the leaders who’ve had the greatest influence in the world, Simon Sinek discovered that they all think, act, and communicate in the exact same way-and it’s the complete opposite of what everyone else does. People like Martin Luther King Jr., Steve Jobs, and the Wright Brothers might have little in common, but they all started with why.

Drawing on a wide range of real-life stories, Sinek weaves together a clear vision of what it truly takes to lead and inspire.

TED VIDEO (subtitle Vietnamese)
https://embed-ssl.ted.com/talks/lang/vi/simon_sinek_how_great_leaders_inspire_action.html

The Power of Habit: Why We Do What We Do in Life and Business

OVER 60 WEEKS ON THE NEW YORK TIMES BESTSELLER LIST

In The Power of HabitPulitzer Prize–winning business reporter Charles Duhigg takes us to the thrilling edge of scientific discoveries that explain why habits exist and how they can be changed. Distilling vast amounts of information into engrossing narratives that take us from the boardrooms of Procter & Gamble to sidelines of the NFL to the front lines of the civil rights movement, Duhigg presents a whole new understanding of human nature and its potential. At its core, The Power of Habit contains an exhilarating argument: The key to exercising regularly, losing weight, being more productive, and achieving success is understanding how habits work. As Duhigg shows, by harnessing this new science, we can transform our businesses, our communities, and our lives.

MONEY Master the Game: 7 Simple Steps to Financial Freedom

Tony Robbins has coached and inspired more than 50 million people from over 100 countries. More than 4 million people have attended his live events. Oprah Winfrey calls him “super-human.” Now for the first time—in his first book in two decades—he’s turned to the topic that vexes us all: How to secure financial freedom for ourselves and our families

Based on extensive research and one-on-one interviews with more than 50 of the most legendary financial experts in the world—from Carl Icahn and Warren Buffett, to Ray Dalio and Steve Forbes—Tony Robbins has created a simple 7-step blueprint that anyone can use for financial freedom.

Robbins has a brilliant way of using metaphor and story to illustrate even the most complex financial concepts—making them simple and actionable. With expert advice on our most important financial decisions, Robbins is an advocate for the reader, dispelling the myths that often rob people of their financial dreams.

Tony Robbins walks readers of every income level through the steps to become financially free by creating a lifetime income plan. This book delivers invaluable information and essential practices for getting your financial house in order.

MONEY Master the Game is the book millions of people have been waiting for.

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Get What’s Yours: The Secrets to Maxing Out Your Social Security

Learn the secrets to maximizing your Social Security benefits and earn up to thousands of dollars more each year with expert advice that you can’t get anywhere else.

Want to know how to navigate the forbidding maze of Social Security and emerge with the highest possible benefits? You could try reading all 2,728 rules of the Social Security system (and the thousands of explanations of these rules), but Kotlikoff, Moeller, and Solman explain Social Security benefits in an easy to understand and user-friendly style. What you don’t know can seriously hurt you: wrong decisions about which Social Security benefits to apply for cost some individual retirees tens of thousands of dollars in lost income every year.

How many retirees or those nearing retirement know about such Social Security options as file and suspend (apply for benefits and then don’t take them)? Or start stop start (start benefits, stop them, then re-start them)? Or—just as important—when and how to use these techniques?Get What’s Yours covers the most frequent benefit scenarios faced by married retired couples, by divorced retirees, by widows and widowers, among others. It explains what to do if you’re a retired parent of dependent children, disabled, or an eligible beneficiary who continues to work, and how to plan wisely before retirement. It addresses the tax consequences of your choices, as well as the financial implications for other investments.

Many personal finance books briefly address Social Security, but none offers the thorough, authoritative, yet conversational analysis found here. You’ve paid all your working life for these benefits. Now, get what’s yours.

Mindset: The New Psychology of Success

World-renowned Stanford University psychologist Carol Dweck, in decades of research on achievement and success, has discovered a truly groundbreaking idea—the power of our mindset.

Dweck explains why it’s not just our abilities and talent that bring us success—but whether we approach them with a fixed or growth mindset. She makes clear why praising intelligence and ability doesn’t foster self-esteem and lead to accomplishment, but may actually jeopardize success. With the right mindset, we can motivate our kids and help them to raise their grades, as well as reach our own goals—personal and professional. Dweck reveals what all great parents, teachers, CEOs, and athletes already know: how a simple idea about the brain can create a love of learning and a resilience that is the basis of great accomplishment in every area.

TED video (Vietnamese Subtitle)

https://embed-ssl.ted.com/talks/lang/vi/carol_dweck_the_power_of_believing_that_you_can_improve.html


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Our group of expert Oil Trader, Commercial Real Estate Specialist, Asset Management, and Business & Financial Analyst, can help to answer all your questions and to provide you with investment alternative and options catered to your investment strategy.  Sign-up for a free 30-minute consultation with us now!

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6 Money Links DAJK GROUP Loves

Men more confident than women about

Recent Studies show Men more confident than women about getting jobs

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  6. Studies show Men more confident than women about getting jobs

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IRS data theft_ 5 things you need to know – MarketWatch

About 100,000 households could be affected by the IRS’ security breach earlier this week. Find out what you need to know to protect your information. IRS Data Theft: 5 Things You Need to Know — MarketWatch

Dollar Rallies on Upbeat U.S

Good news for your green! Compared to international currencies, the strength of the dollar is hitting record highs. What does that mean for you? Dollar Jumps Against Yen, Euro — The Wall Street Journal

When It Really Pays to Buy Online – Consumer Reports

Shopping is as easy as a few swipes and a click these days, but some online splurges are better for your wallet than others. Here’s when digital checkouts really pay off. When It Really Pays to Buy Online — Consumer Reports


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3 Things You Need to Know About 0% Interest Promotions _ SmartAsset

Did you know it’s still possible to pay interest on a 0% APR credit card? Heed these precautions before you sign up. 3 Things You Need to Know About 0% Interest Promotions — Smart Asset

Ways to make a smooth transition to retirement

Reports show that about two-thirds of Boomers have difficulty adapting to retired life. Follow these tips—like safeguarding your resources—to successfully transition into your golden years. Ways to Make A Smooth Transition into Retirement — USA Today

The Real Reason Men Are More Confident Than Women About Getting Jobs – Bloomberg Business

Turns out, the so-called confidence gap could be more of an “effect” than a “cause” of lopsided job opportunities for women at work. These studies explain why. The Real Reason Men Are More Confident Than Women about Getting Jobs — Bloomberg

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A Great business consultant must see a white space around the black dot…

Biz Consultant

A business consultant’s job is to consult. Nothing more, nothing less. It’s that simple. There’s no magic formula or secret that makes one consultant more successful than another one.

But what separates a good business consultant from a great business consultant is a passion, drive for excellence and creativity. And–oh yes–a great business consultant should be knowledgeable about the subject he or she is consulting in. That does make a difference.

Creativity is not only helps a Great business consultant can “see” things surrounding of his client’s issue,  but it also provides right guidance and assists with precise and correct solution.  For illustration, place a small black dot on a blank piece of fresh paper represents your client’s issue. It could be involved human resources, account receivable, account payable, expansion funds, equipment, budgeting, personnel, or even community relations. It is your client’s black dot.

Unfortunately majority of good business consultants will see ONLY the black dot.  Their eyes will focus and become fixated on it.  As a great business consultant, you must see all the white space around the black dot.  Fill the white space with all the positive recommendations and solutions. Start to make notes.  Keep thinking and writing.  A great business consultant is constantly searching for right solutions to solve his client’s issue.

Within no time the white space will fade, and the dot will become unnoticeable. Your client’s issue will become workable. Furthermore, involve team members or partner with your client’s black dot. A fresh set of eyes may be all you need to make the impossible, possible. By taking on your client’s issue in pieces and parts, you can develop strategies to chip away at it. In the end, the seemingly insurmountable black dot no longer exists―you have made progress. As a great business consultant you have found ways to cope with and improve your client’s situation.

biz consultant 8

Top 10 Consulting Businesses Thriving Today

Although you can be a consultant in just about any field these days, the current top 10 consulting businesses include:

  1. Accounting:Accounting is something that every business needs, no matter how large or small. Accounting consultants can help a business with all of its financial needs.
  2. Advertising:This type of consultant is normally hired by a business to develop a good strategic advertising campaign.
  3. Auditing:From consultants who audit utility bills for small businesses to consultants who handle major work for telecommunications firms, auditing consultants are enjoying the fruits of their labor.
  4. Business:Know how to help a business turn a profit? If you have a good business sense, then you’ll do well as a business consultant. After computer consulting, people in this field are the next most sought after.
  5. Business writing:Everyone knows that most businesspeople have trouble when it comes to writing a report–or even a simple memo. Enter the business writing consultant, and everyone is happy!
  6. Career counseling:With more and more people finding themselves victims of a corporate downsizing, career counselors will always be in demand. Career counselors guide their clients into a profession or job that will help them be both happy and productive as an employee.
  7. Communications:Communications consultants specialize in helping employees in both large and small businesses better communicate with each other, which ultimately makes the business more efficient and operate smoothly.
  8. Computer consulting:From software to hardware, and everything in between, if you know computers, your biggest problem will be not having enough hours in the day to meet your clients’ demands!
  9. Editorial services:From producing newsletters to corporate annual reports, consultants who are experts in the editorial field will always be appreciated.
  10. Executive search/headhunter firms:While this is not for everyone, there are people who enjoy finding talent for employers.

You decide which type of business consultant you want to be – I choose to be a GREAT one.

Resources

Amazon Corner’s Books

Publications

  • Consultants News
  • Business Consultants Directory, American Business Directories Inc., 5711 S. 86th Cir., Omaha, NE 68127

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Financial Planning is like garlic to a vampire

DAJK GROUP is the place where investors, business owners and entrepreneurs can research and find useful information, insight, resources, advice, guidance and inspiration for acquiring funds for their project, acquisition for their net lease commercial real estate, increasing their assets and running their profitable business.

Other books are recommended here

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Building a Finance Plan Geared to Growth

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I would like to share with you our book reviewer from Ms. P. Fisher, “Garlic to a vampire“.

I recently read Daniel Nguyen’s Building a Finance Plan Geared to Growth, and have decided to keep this as my small business guidebook to finance management.  I am not an expert, hardly even a novice, when it comes to managing my business.  As a “creative” type, financial planning is like garlic to a vampire.  And yet, financial planning is essential to running a successful business.  I believe that part of my resistance comes from lack of understanding the definitions and how to do things such as create financial statements like profit and loss, cash flow, etc.  When we don’t understand how something works it becomes twice the job and, in my case, gets put on the bottom of the “To Do” pile.  What I really like about this guidebook on how to build a financial plan is that Mr. Nguyen explains what all of these terms mean. He gives us not just a textbook definition, but also shows HOW they work in relation to the overall picture of getting a small business loan, for example. He then shows a sample of what that financial statement should look like.  THIS I can understand!  He also tells the reader what to ask for –and what NOT to ask for.  There is information on establishing credit well in advance of going for a loan, things that I can do now to prepare for my possible or projected business needs in the future. He includes guideposts of ways to evaluate the progress and effectiveness of my current business needs, and then how to assess my possible future needs. Then, for when I am ready to go for a loan, I like the True-False test that he includes in the text.  This test allows me, as the business owner, to self-score how prepared I am to go meet with the banker.  This book is a wealth of good advice, resources and tools that I can use in understanding and applying good financial practices in my business.

I feel that if I follow the outline of this book that I could meet with a bank lender and not appear to be an idiot.  Mr. Nguyen has thought of not only the standard things that I will need to bring and think about beforehand, but also other possibilities that a lender might want to know.  For example, he writes that I, as a business owner, should have not one, but two possible repayment plans, to reassure the lender that I am a good risk. This is good, easy-to-understand information- he gets a score of “10” from me on a practical help scale.

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Other related topics:

Manage Your Money – Free ebook

5 IRS Categories’ Audit Risk for Small Businesses

Always protect your investment against risks

4 fundamental Ways Really Increase Your Revenue and Asset in Business

Three recommendations improving your communication with business person

Top 6 Terms You Should Know Before Investing in net lease commercial real estate


 

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5 IRS Categories’ Audit Risk for Small Businesses

business Entity type 8

It is very stressful when find yourself under the IRS microscope. Here are 5 categories that impact audit risk for small businesses according to the IRS commissioner.

The best course of action: Retain all receipts and other tax papers (even if scanned into your smartphone or desktop), conscientiously record income and expenses, and work with a certified professional accountant.

Highlights:

  1. Entity type
  2. Income level
  3. Location
  4. Deductions
  5. Type of business

Entity type

business Entity type

From a legal standpoint your business entity impacts your IRS audit risk. Statistics in the 2014 IRS Data Book show that an S corporation or partnership (including a limited liability company filing a partnership return)—regardless of income or other factors—had only a 0.4% chance of being audited in the government’s fiscal year ending September 30, 2014. In contrast, a sole proprietorship with gross receipts between $100,000 and $200,000 had a 2.4% audit risk (or 6 times as great as the other pass-through entities).

What will you do if you operate your business as sole proprietorship?  It’s important to recognize that being a sole proprietor places greater need on owners to maintain good books and records and follow tax rules.

Income

The amount of gross receipts (fees, sales receipts, and other earnings before any deductions) impacts the audit risk of sole proprietorship. Here’s what the Data Book shows for the government’s 2014 fiscal year:

Gross receipts Percentage of returns audited
Under $25,000 1.0
$25,000 to under $100,000 1.9
$100,000 to under $200,000 2.4
$200,000 or more 2.1

If you’re a sole proprietor, you should simply put on the alert to use good business practices as protection in case of audit.

Location

IRS offices are staffed differently in various locations across the country, enabling some offices to conduct more audits than others. There is no current data on how this impacts your audit risk (in prior years, certain districts such as Manhattan, NY, and Houston, TX were known to have higher audit risks).

Again, should you relocate to a place with little or no IRS coverage? No. Just be prepared to face an audit, use good business practices by carefully tracking your income and expenses and use certified professional accountant.

Deductions

The type and amount of deductions claimed can flag a return for audit. Because travel and entertainment expenses deducted for business may arguably be more personal in nature, the IRS looks carefully at these write-offs to make certain they are legitimate and that they have been adequately substantiated.

Also IRS computers are purported to select returns of businesses that take unusually high deductions relative to their income. (One government agency reported back in 2004 the average expenses for sole proprietorships.) Once selected, an agent may look a little more closely before deciding whether to commence an examination. This may simply be asking for substantiation of deductions claimed on the return (a process that can be done by mail or phone).

Please note businesses should take every deduction to which they are entitled. However, they must have required documentation and records (e.g., receipts, logs) for these business deductions.

Type of business

Cash businesses are suspected of omitting income because they can; there is little or no paper trail. In fact, cash businesses are said to be a large part of the more than $450 billion tax gap. The tax gap is the spread between what the government thinks it should collect and what it actually collects.

There is an IRS audit guide specifically for cash intensive businesses (e.g., beauty shops, car washes, laundromats, and many other types of small businesses), which instructs agents about what to look for during an audit. Cash businesses should review this guide to learn what they can do to create audit protection, just in case they are selected for examination.

Conclusion

business Plan

There are no statistics or other evidence to show taking a home office deduction is an audit red flag.  According to the Small Business Administration (SBA), 52% of all businesses in the U.S. are home-based, so it’s not likely that the IRS is going after every one of them.

The conclusion that your business is at IRS audit risk under any of these or other categories.  The best course of action: Retain all receipts and other tax papers (even if scanned into your smartphone or desktop), conscientiously record income and expenses, and work with a certified professional accountant.


Related Topics

How to minimize the risks of joint ventures with governments

Three recommendations improving your communication with business person

What are essential requirements for a successful entrepreneur?

4 fundamental Ways Really Increase Your Revenue and Asset in Business

Our free e-booklets are available when you subscribe.  These reference booklets will email to you within 24 hours.

  1. 2014 IRS Data Book
  2. IRS audit guide

In addition, please review our book Building a finance plan geared for Growth at Amazon

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Three recommendations improving your communication with business person

one thing that will never change is the value of sharing your expertise with clarity, respect, and professionalism.

Communication 7Highlights
  1. Clarity: Recommend your preferences
  2. Respect: Ask others how they want to correspond
  3. Professionalism:  Maintain a high level of professionalism

Entrepreneur is not only must master his communication skill both nonverbal and verbal; but he is also must know when to decide which one is the best way to communicate with his clients under which circumstance.

The fact is they all work well. While one person may respond immediately to your e-mails, another may allow your notes to linger in his inbox for days because he would rather correspond via text, meet face-to-face, or talk on the phone.

Nowhere is clear communication more essential than in business. One verbal blunder or nonverbal electronic error can have catastrophic effects. Here are three suggestions to help you effectively interact with businessmen.

Communication 4Clarity: Recommend your preferences

The best way to begin streamlining your communication is to let people know how they can best connect with you. Naturally, your preference will vary depending on the situation. If it’s necessary for you to keep a record of your discussions, then it’s advisable to correspond electronically. You can establish this standard by saying, “Let’s connect via e-mail so we’ve got some notes to refer to.” That way there will always be a thread to follow if required for administrative reasons. E-mail, webinar or web-conference is also the favored way to share links and connect people with one another. Sometimes, though, only a verbal conversation will get the results you’re after. In these cases, arrange a telephone or in-person meeting. Text SMS, tweeter should be used primarily for notifications and casual conversations that don’t need to be preserved as part of a business record.

entrepreneurship 2Respect: Ask others how they want to correspond

Efficiency is a priority when interacting with other people, especially businessmen. That’s why it helps to develop a “communication agreement” with clients and colleagues by asking this simple question: “What’s the best way for us to stay in touch on this matter?” You’ll find that some people will provide you with their private cell phone number and others will ask you to reach them through their assistant. However you’re asked to connect, honor it. Concurring on a method of communication at the beginning of a professional relationship will save everyone time down the road.

Communication 5Professionalism: Maintain a high level of professionalism

No matter how you choose to communicate — whether it’s on the phone, in an e-mail, or via text — view every single message you deliver as a piece of formal correspondence that will live on in perpetuity. The last thing you want is for a casual, off-the-cuff comment you share to resurface in the wrong place with the wrong people at the wrong time. A commitment to preserve the integrity of your professional and client relationships should underlie the tone of every digital and personal conversation you have. That, coupled with your duty to maintain confidentiality, is what will set you apart as a respected entrepreneur.

As time goes on the methods we use to communicate with one another will continue to evolve. But one thing that will never change is the value of sharing your expertise with clarity, respect, and professionalism.


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