You're bored and Tired of what you do!

You're bored. Tired of what you do. You're not even close to where you hoped your business would be by now. You feel like you're losing ground and don't know how to get energized and ready for the next round.

It happens to nearly everyone. Even though we know it takes most people two to four years to get a business off the ground and making money, we somehow believe we will be the exception to the rule. Or we just forget how long two to four years actually is. It doesn't help that every time we turn on the news, echoes of the declining economy ring in our ears.

Plenty of people are thriving, even in this economy, and you can, too. More important, you can regain your passion for what you do. Follow some of these suggestions to boost your flagging enthusiasm:

1. Become an industry insider. Take the next step to becoming savvier about what's going on in your field. Buy a subscription to that industry magazine you considered a luxury. Become a presenter or simply attend a conference you've always wanted to go to. You can always become more involved, whether it's helping at a local event, writing articles for publication or lobbying for a cause your industry cares about.
   
2. Sharpen your skills. You may be good at what you do. But someone else in your field knows more than you do, has more skills than you do or has that extra edge. Nothing chases away a slump faster than learning something new. Government agencies, businesses and schools all offer tons of e-learning opportunities at low cost. Look for training sessions at local universities or interest groups.
   
3. Find a mentor. One of the best ways to insulate yourself against business failure is to find and work with a mentor, someone with business experience who can guide and assist you. One place to begin is findamentor.org, a free website with a database of mentors and apprentices--a safe community where people can find support for achieving their desires. Find the right people to give you advice at the right stages in your career, be it one person or 20. Nothing is better than having a go-to person with whom to discuss your business ideas and concerns.
   
4. Grow your network. You know you need a professional network of people to help you open doors, get you in someone's office or help you close a deal. But there are other advantages, too. When you find the right group of people and you click, it can be fun. Group events, socializing one-on-one and even commiserating about similar situations and feelings can remind you that you aren't alone and that a new day is just around the corner.
   
5. Dealing with naysayers. Most of us deal with some clients or customers we can't seem to please, no matter what we do. Take their comments in stride and see if what they are saying is honest. If it is, take measures to improve your business. If it's not, focus on the positive testimonials you have gotten. Remind yourself how many people you are helping. Keep a folder of those positive comments and revisit them often. Better yet, add those testimonials to your website. They're great for attracting new clients and are a real mood booster when you're having "one of those days."

Build a Brand Unusual

Successful brand leaders live out loud. They follow their passions and they're willing to take risks regardless of what others say. To live out loud means to do whatever it takes to see your dreams realized.

Richard Branson, best known for his Virgin brand of over 360 companies, is the quintessential example of a brand unusual due to the leader's willingness to live out loud. Just look at the twinkle in Branson's eye: He is constantly forging new business pathways with a spirited and adventurous relentlessness.

Or take a look at the creators of Twitter: Biz Stone, Evan Williams and Jack Dorsey. People originally scoffed at the notion of 140 character "tweets" but their idea has produced a totally original communication platform that's been embraced worldwide. And that originality is a corner-stone of the Twitter brand.

So what happens when a leader is living out loud? You get a brand unusual. When a company has a brand unusual the primary focus of the brand isn't outward (outsmarting the competition); instead it's internal. It's about the brand doing the best it can and recognizing the value it brings to the table, all the while inspiring others along the way and making a difference.

Here are two ways you can start forging your brand unusual.

Set a Higher Standard and Then Live By It
What used to be an afterthought in business practice, operating within the parameters of social responsibility, is now coming of age. This is essential thinking for entrepreneurs and for future business leaders.

At last year's Harvard Business School graduation, more than half of the students volunteered to take a new student-authored MBA Oath. The MBA Oath promises that Harvard MBA's will act responsibly, ethically and refrain from advancing their "own narrow ambitions" at the expense of others.
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How amazing is that? The so-called elite saying greed is no good and demonstrating a passion for spreading their new message.

Since that time more than 200 business schools around the world have added the MBA Oath to their commencement.

One of the three creators of the Oath, Teal Carlock, said, "As a class, we have a real opportunity to come together and set a standard as business leaders."

What you can do

• Challenge yourself and your team to set higher standards by using your brand to define how you want to operate in today's socially conscious business world. It could mean re-evaluating your vision for the future or the way you want to serve your customers. You want to send a clear and powerful message about the positive impact your business brand is having and will continue to have in the future.
  
• What kind of stage have you created for your brand? Visionary leaders create a platform for themselves and their brand. Are your brand story and marketing messages in synch with and supportive of whatever your platform says?

Ask and Answer Your 'Whys'
Marketing expert Simon Sinek is challenging the status quo and inspiring others to make a difference in this world. Sinek's recent book, Start With Why, studied those leaders who have had the greatest influence in the world. He discovered that they all think, act and communicate in very similar ways--the complete opposite of everyone else, that is. These leaders articulate and understand why their organization exists, and why it does the things it does. What's more, these great leaders never try to manipulate or control. They strive to inspire.

"Start seeing things from this different perspective of asking why," Sinek suggests. "Great companies with a strong sense of why are able to inspire their people. Great leaders give their people a purpose or challenge around which to develop ideas."

What you can do

• Start by asking yourself the question, "Why?" Why does my organization exist, why does it behave a certain way? This is a transformative process of discovery. Try it, and then invite your team to do the same. Once you've tapped into the reasons, apply the discoveries to your brand. Does your brand reflect these motivations? If it doesn't it's time to align your brand with your 'whys.'

In 1921, George Bernard Shaw wrote, "You see things, and you say, 'Why?' But I dream things that never were, and I say; 'Why not?'" I challenge all you maverick entrepreneurs to ask yourself two questions: "Why?" and "Why not?" It's time to reignite your passion for your brand and be willing to take risks and stand by them--live by them--every day. There's nothing quite as exhilarating as seeing the demonstration of a brand living out loud. So go for it!

Are you an entrepreneur who is living out loud?

20 Ways to Waste Your Money

Whether a newbie or seasoned budgeter, nearly everyone has spending holes -- leaks in your budget that drain money with you hardly noticing.

These small drips can add up to big bucks. Once you find the holes and plug them, you'll keep more money in your pocket. That spare cash could be the ticket to finally being able to save, invest, or break your cycle of living paycheck to paycheck.

Here are 20 common ways people waste money. See if any of these sound familiar, and then look for ways to plug your own leaks.

How to waste your money

1. Buy new instead of used. Talk about a spending leak -- or, rather, a gush. Cars lose most of their value in the first few years, meaning thousands of dollars down the drain. However, recent used models -- those that are less than five years old -- can be a real value because you get a car that's still in fine working order for a fraction of the new-car price. And you'll pay less in collision insurance and taxes, too.

Cars aren't the only things worth buying used. Consider the savings on pre-owned books, toys, exercise equipment and furniture. (Of course, there are some things you're better off buying new, including mattresses, laptops, linens, shoes and safety equipment, such as car seats and bike helmets.)

2. Carry a credit-card balance. If you have a $1,000 balance on a card charging 18%, you blow $180 every year on interest. That's money you could certainly put to better use elsewhere. Get in the habit of paying off your balance in full each month.

3. Buy on impulse. When you buy before you think, you don't give yourself time to shop around for the best price. Resist the urge to make an impulse purchase by giving yourself a cool-off period. Go home and sleep on the decision. If you still want to make the purchase a day or so later, do your comparison shopping, check your budget and go for it. Oftentimes, though, I bet you'll decide you don't need the item after all.

4. Pay to use an ATM. A buck or two here and there may not seem like a big deal. But if you're frequenting ATMs outside your bank's network, the surcharges can add up quickly. Put that money back in your pocket by using ATMs in a surcharge-free network such as Allpoint or Money Pass.

5. Dine out frequently. A habit of spending $10, $20, $30 per person for dinner can be a huge drain on your wallet. Throw in a $6 sandwich for lunch and a $4 latte in the morning, and you've got quite a leak. Learn to cook, pack your lunch and brew your coffee at home and you could save a couple hundred bucks each month.

6. Let your money wallow. If you are stashing your savings in your checking account or a traditional bank account, you are wasting money. You could put it in a high-interest online savings account and get paid to save. You can even get an interest-bearing checking account through such reputable companies as Everbank, Charles Schwab, E*Trade and ING Direct.

7. Pay an upfront fee for a mutual fund. Selecting no-load funds can save you more than 5% in sales charges. Of course, no matter how well a fund has done in the past, you can't be sure how it will perform in the future. But if you pay a load, you'll begin the performance derby in the hole to the tune of the load. See the Kiplinger 25 for our favorite no-load funds.

8. Pay too much in taxes on investments. Are you investing in a tax-sheltered 401(k) or Roth IRA? If you're not maxing out those accounts before you invest in a taxable account, you're spending too much.

9. Buy brand-name instead of generic. From groceries to clothing to prescription drugs, you could save money by choosing the off-brand over the fancy label. And in many cases, you won't sacrifice much in quality. Clever advertising and fancy packaging don't make brand-name products better than lesser-known brands (see Similar Products, Different Prices).

10. Waste electricity. Of the total energy used to run home electronics, 40% is consumed when the appliances are turned off. Appliances with a clock or that operate by remote are typical culprits. The obvious way to pull the plug on your energy vampires is to do just that -- pull the plug. Or buy a device to do it for you, such as a Smart Power Strip ($31 to $44 at www.smarthomeusa.com, which will stop drawing electricity when the gadgets are turned off and pay for itself within a few months.

11. Pay banking fees. Overdraw your checking account and you'll pay $20 to $30 a pop, so it pays to keep tabs on your balance. Plus, are you still paying for a checking account? Free deals abound -- but make sure they're really free. For instance, will the bank charge a fee if your balance drops below a certain level or if you download your info into a personal-finance software program? That's not free.

12. Buy things you don't use. This sounds like a no-brainer to avoid, but how many times have you seen something on sale and thought you couldn't pass it up? Even if something is 50% off, you're spending too much if you don't use it. href=Couponing, for instance, can be a great way to save on your grocery bills. But if you buy things you wouldn't have purchased in the first place simply for the sake of using the coupon, you're wasting your money. The same goes for buying in bulk. A bargain is no bargain if it sits unused on your shelf or gets thrown away.

13. Own an extra car. Okay, so a car is a necessity for most people. But face it -- cars are a huge drain, from their loan payments to insurance fees to gas and maintenance costs. Own more than one car and you'll double or triple those expenses. Ask yourself if that second or third car is really necessary. Are you holding on to an old car for sentimental reasons? Can you or your spouse carpool, take public transportation or bike to work?

14. Ignore your local dollar store. Shopping at the dollar store can be hit-and-miss, but it's not all kitsch or junk. If you know what to buy, you can find some real bargains. For instance, my local dollar store charges 50 cents for greeting cards versus the $3-plus at a drug store or gift shop. (I have a big extended family so I figure this saves me more than $100 per year.) You can also score a deal on cleaning supplies, small kitchen tools, shampoos and soaps, holiday decorations, gift wrap and balloon bouquets.

15. Keep unhealthy habits. Smoking is not only bad for your health, it burns up your cash. A pack-a-day habit at $6 a pack costs $180 a month and $2,190 a year. A junk-food or tanning-bed habit can be costly as well. Not to mention the money you'll waste on medical bills down the road.

16. Be complacent about insurance. Your bill arrives and you pay it without a second thought. When was the last time you shopped around to determine whether you're getting the best deal? Rates vary widely from insurer to insurer and year to year. Reshopping your auto, home or renters insurance might save you hundreds of dollars.

It also pays to evaluate your insurance needs. For instance, upping your out-of-pocket deductible from $250 to $1,000 can save you 15% or more on your car insurance. Consider using the same insurer for your home and auto insurance -- you could snag up to 15% off for a multiple-line policy. And make sure you're not paying for insurance you don't need. For instance, you need life insurance only if someone is financially dependent upon you (such as a child).

17. Give Uncle Sam an interest-free loan. If you get a tax refund each April, you let the government take too much money in taxes from your paycheck all year long. Get that money back in your pocket -- and put it to work for you -- by adjusting your tax withholding. With a little discipline, you can use that extra cash each month to get started saving or pay down debt (or make ends meet to avoid going into debt in the first place). You can file a new Form W-4 with your employer at any time.

18. Pay for something you can get for free. Dust off your library card and check out books, music and movies for free (or dirt-cheap). Don't pay to receive your credit report when you're allowed to get it at no charge by law. Take advantage of kids-eat-free promotions. And dial 1-800-FREE-411 for free directory assistance.

19. Don't use a flexible-spending account. Your employer may allow you to set aside pretax dollars to pay for medical costs not covered by insurance. You can use the money for expenses such as therapy, contact lenses, insurance co-payments and over-the-counter drugs. You may be able to do the same for child-care costs.

20. Pay for unnecessary services. How many cable channels can a person watch? Do you really need all those extra features for your cell phone? Are you getting your money's worth out of that gym membership? Are you taking full advantage of your subscriptions (such as Netflix, TiVo or magazines)? Take a look at what you're paying for and what your family is actually using. Trim accordingly.

Copyrighted, Kiplinger Washington Editors, Inc.

The Investment Secrets in Common Stocks and Uncommon Profits

In his book, Fisher laid out fifteen things that a successful investor should look for in his or her common stock investments. Here’s a rundown of what they are. (Do yourself a favor. Run out to your local store or navigate to your favorite online book retailer and pick up a copy of Common Stocks and Uncommon Profits – this basic summary of the book can’t possibly do justice to all of the excellent information in its pages.)

1. Does the company have products or services with sufficient market potential to make possible a sizeable increase in sales for at least several years?
2. Does the management have a determination to continue to develop products or processes that will still further increase total sales potential when the growth potential of currently attractive product lines have largely been exploited?
3. How effective are the company’s research and development efforts in relation to its size?
4. Does the company have an above-average sales organization?
5. Does the company have a worthwhile profit margin?
6. What is the company doing to maintain or improve profit margins?
7. Does the company have outstanding labor and personnel relations?
8. Does the company have outstanding executive relations?
9. Does the company have depth to its management?
10. How good are the company’s cost analysis and accounting controls?
11. Are there other aspects of the business somewhat peculiar to the industry involved that will give the investor important clues as to how the company will be in relation to its competition?
12. Does the company have a short-range or long-range outlook in regard to profits?
13. In the foreseeable future, will the growth of the company require sufficient financing so that the large number of shares then outstanding will largely cancel existing shareholders’ benefit from this anticipated growth?
14. Does the management talk freely to investors about its affairs when things are going well and “clam up” when troubles or disappointments occur?
15. Does the company have a management of unquestioned integrity?

Fisher also had five “don’t” rules for investors, which were:

1. Don’t buy into promotional companies
2. Don’t ignore a good stock just because it is traded over-the-counter
3. Don’t buy a stock just because you like the tone of its annual report.
4. Don’t assume that the high price at which a stock may be selling in relation to its earnings is necessarily an indication that further growth in those earnings has largely been already discounted in the price?
5. Don’t quibble over eighths and quarters

Finding Good Stocks to Buy

Compare Stocks to Peers, Industry Sector to Measure Performance

By Ken Little, About.com

It is never easy picking good stocks, however during very difficult economic times it becomes more important than ever.

When the economy and the market are racing for the bottom, they can drag down good companies along with the bad.

A troubled economy tends to strip away any growth weak companies enjoyed in previous growth cycles.

However, because good companies may suffer also, investors need a way to judge a company’s performance.

One way investors can take the pulse of a potential investment is to compare how the company is performing relative to its peers.

Yahoo! Finance offers a way you can compare how a company is doing relative to its industry sector and its peers.

Click on the “Investing” tab and choose “Stocks.” On this page, look for the link to “Sector/Industry Analysis.”

This link takes you to a page that compares the various industry sectors. Other online providers may have a different way of identifying sectors.

Here’s how you can use this information.

Let’s say you are interested in IBM. Click on the “Technology” tab. IBM is in the Diversified Computer Systems sub-group.

If you don’t know where a company is classified, look up its quote and go to the Profile page. How Yahoo! classifies a company is listed in its profile.

Click on the Diversified Computer Systems and you will find a list of the companies in that sub-group. Each company will have a number of financial ratios listed.

At the top of the list are the corresponding numbers for the whole Technology sector as well as numbers for the Diversified Computer Systems group.

You can compare IBM or any other company with the sector and sub-group as well as comparing the company with its peers – such as comparing IBM and Hewlett-Packard.

If you want, you can download this information to a spreadsheet such as Microsoft’s Excel.

This is not a recommendation for IBM or Hewlett-Packard and other online providers of financial information offer similar capabilities as Yahoo!.

Always check current news about a potential investment for any late-breaking announcements and so on that may impact your decision.

Investors have a tremendous amount of information at their fingertips. There is no excuse for making investment decisions in the dark.

Know the Difference Between Value Stocks and Cheap Stocks

Investing in Value Stocks Is a Proven Strategy

By Ken Little, About.com

There is a difference between a value stock and a cheap stock. If you don’t know the difference, you may end up owning a stock that will not respond when the market and economy rebound.

A value stock trades below what analysts think it’s worth. Of course, in the middle of a raging bear market it seems like almost every stock fits that definition.

What distinguishes a value stock from a cheap stock is the quality of the company.

Even good companies get beat up when the market is free styling down the price slope. And here is where problems come in for investors.

It is easy to become overwhelmed by the low prices on a large number of stocks.

Those low prices seem to suggest that these are bargains too good to pass up.

However, a cheap stock may not have any bounce left if the company has been severely injured by the economy.

The brutal truth is a number of companies are lost every time the economy takes a strong dip.

These companies suffer a large loss in revenue and customers. Compounding their problems, larger and stronger competitors may take market share.

When the economy recovers and customers begin buying again, these weak companies are so financially decimated they cannot recover.

While both value and cheap stocks may be trading at historic lows during an economic crisis, only the strong companies have a chance to recover.

How do you tell a value stock from a cheap stock?

There is no single magic answer, but here are some indicators that may help:

• Debt is below its sector’s average
• The company is generating enough cash to avoid refinancing
• The company has a successful brand that will survive economic slowdowns
• It should trade at a P/E below industry averages, but not at rock bottom

This article can help you find this comparative information.

Being a good value investor is a proven strategy that has worked in good times and bad, however it takes about the same amount of work no matter what the market and economy are doing.