How Do You Stay Excited About Your Job?

Pre-season football is all about motivation. The second and third-string players might have one shot to prove their worth. If they don’t, the consequences can be ruthless and rapid.

Entrepreneurs might sometimes wish motivation was that simple.

How do you stay engaged when

  • your plays fail,
  • your team is losing, or
  • the game is boring?

Successful business people have their ways of staying alert on the field.

Writing for Fortune, Julie Smolyansky, CEO and president of Lifeway Foods, recommends checking up on competitors to see what others are doing. This review may give you the competitive spark you need to crank up your game.

Lee Polevoi, writing for Intuit, advises business owners to find their original entrepreneurial spark. What was originally the source of your inspiration and vision? Reconnect.

Most writers on motivation talk about goal setting. Write precise goals. Don’t let negative thoughts get in your way. Set future goals now.

Many entrepreneurs had already set a goal when they created the original business plan. If you have one of these plans, it might be time to review it. According to evancarmichael.com, start-ups are 90 percent likely to survive the first 18 months of business if they’ve written a business plan.

Many things might have changed since your original business plan, but it was once your playbook. Imagine you are a startup trying to outline your vision, attract investors and draw up a new game play for the next year or 10 years. Maybe writing a new business plan today can help you clarify your motivation.

Finally, if you wonder about how your business is really doing, talk to customers. Find out how you have helped them and how you could do better. Then do it.

August/September Newsletter for Advisors

August FA Newsletter

August Newsletter for Consumers

If you are one of our Personal or Couple’s Edition customers, then this is for you.

Stay tuned if you’re a Financial Advisor. Yours will be along soon!

August RetirementView Consumer

Time To Pause and Refresh

Hotel in Rapallo

By Tim Turner

Summer is a great time to pause and refresh by taking a vacation. My wife Melissa and I have been so blessed to be able to go on an annual anniversary trip.  Well to rewind, the first few years were just dinner out, not a trip.  We have over the years as the kids gotten older worked our way up to bigger trips like Quebec, Napa, and St. Lucia.  Our in-laws come to spend time with their grand-kids while we go on our trip.

This year for our 24th anniversary we took a trip to Italy and Greece. I could fill pages telling you about the incredible food, beautiful views, and all the historical sites.  For this article, I want to focus on the idea of what it means to “pause and refresh”… and slow down.

cappuccinoAs a coffee drinker, I love going to Europe because there is a cafe ready to serve you top quality coffee about every 25 feet. You think Starbucks is everywhere… go to Italy and count the number of places you can get espresso and cappuccino. Even if you stop at a “rest area” by the highway, they have no coffee “to go” cups.  Instead they have a $30,000 coffee machine just like in the cafes with a real person making high quality espressos and cappuccinos. In a gas station, people were 15 deep to belly up to the “bar” to get an espresso before continuing on their way. There were no instant press-a-button coffee machines there to quickly fill a cup and run… No, they paid a skilled person to be there and run a high end espresso machine. In a gas station.

One tidbit you might not know is that in Italy they don’t ever serve coffee in a “to go” cup. In fact, they don’t even have “to go” cups.  Trust me.  I asked. I asked at many places. I asked at small cafes. I asked at espresso bars and street carts. I asked at high end hotel restaurants. “No no no” I kept being told. This was very odd to me. We had a rental car and needed to hit the road. I need my

Hotel grande Fasano

Hotel Grande Fasano in Lake Garda area of northern Italy

coffee for the trip. “No no no Senore”.

Our rental car was an Audi and i

t had no cup holders. Let me repeat that… NO cup holders.   Why? because Italians don’t drink coffee to go and they don’t drink anything while driving. I think because it takes too much focus to drive over there. Having lived through Atlanta traffic for 18 years, though, I held my own pretty good against the Italian drivers. Contrast this with America where my new son-in-law, who sells cars for Toyota is most frequently asked “how many cup holders does this car have” as a major buying criteria.

One of the hotels we stayed at was the Hotel Grande Fasano on Lake Garda. It was a historical palace converted into a hotel with glorious views of the massive lake. Before we were to leave one night to go to Verona, I asked one of the ladies working there if I could get some coffee to go. She said “sure you can take the china up to your room”. I said, “No I meant a paper cup to take in the car.” She said “no no no we don’t have any. You are in such a hurry. If you want coffee you need to slow down and take the time to enjoy it, even if it’s 5 minutes.”

20150724_123419_300x169

View of harbor in Rapallo while sipping capuccino…

OK at first I was annoyed by this, but as our trip went on I realized that it was definitely better to have high quality coffee while pausing to enjoy it, rather than running out the door with a “to go” cup. Even when we went to a cafe for lunch, we saw people popping in at all times of the day for an espresso. They stayed for a few minutes and were off. But for those few minutes they stopped to pause and refresh… and slow down.

Besides the coffee though my wife and I found plenty of places to stop and pause and refresh. In Rappallo, a city near Portofino on the Italian riviera, we would take a daily walk through and around town for our exercise, and also to see the town on foot. We found a guy with a coffee stand by the harbor and would get a cappuccino every day and just sit by the harbor… and pause for just a few minutes. We enjoyed the view of the boats and the people walking by…the morning sunshine warming our faces…while enjoying our cappuccinos… and fancy that it was served in a real china cup….from a guy running a “coffee stand” down by the water.

The Italians are definitely onto something. Taking the time to enjoy a cappuccino or espresso is the perfect way to “pause and refresh” so that you are ready to face the rest of your day…

Opera in Verona

Opera in Verona inside the Roman Arena right before the start of “Don Giovanni”

gondola ride

Gondola ride in Venice

View from hotel in Rapallo

View from hotel in Rapallo

Perfect Cappuccino

The most perfect and delicious cappuccino ever… or at least on that particular day!

Cappuccino at Hotel Excelsior in Rapallo

Cappuccino at Hotel Excelsior in Rapallo on fine china with the logo of the hotel on every piece.

The water

The azure water of the mediterranean. Lots of rocks and no beaches in Rapallo.

 

Building Rapport With Your Clients

Have you seen that episode of “The Office” where Michael Scott decides to divide his sales people up and send them out to their clients to develop a personal connection?

Phyllis takes Karen to get a makeover in order to look just like their client’s wife so they can make connection with him and hopefully make the sale…which they did.

When I found this article, I immediately thought of that episode. It then seemed necessary to share this and ask some questions. Read it I’m curious to know what you think.

——-

In her new book, The Primates of Park Avenue, author Wednesday Martin recalled how difficult it was to become accepted into the circle of wealthy New York mothers.

She finally succeed when she recalled her anthropology training in baboon culture where all females submit to the dominate female.

Martin writes that she picked out the leader of the group and began to mirror her. She dressed like the woman.  She exercised at the same place. She got a fantastically expensive handbag. She bought the right clothes. And it worked.

This is, perhaps, an extreme example of what salespeople have known for years: Building rapport, or relationships, depends, in part, on mirroring.

According to the New York Times, strangers are attracted to people who remind them of themselves.

Animated talkers like people who do the same. But people who speak calmly and deliberately also like people who do the same.

Body language is a powerful tool in face-to-face social situations. Subtle mimicry of body language — but not mocking — can forge ties.  If your client crosses his legs, doing the same after a moment or two can subtly suggest you are friends.

Common interests can be important. Finding something in common to speak about can create bonds. In the same way, asking friendly, but not rude, questions can do the same.

——–

What do you think?

Is “mirroring” just plain manipulative or is there some merit in what they’re saying in this article?

Is “mirroring” something you believe could pull off or would it come across disingenuous?

Have you ever tried this and found it successful or un successful?

What ways do you use to try and connect with your clients – or have you even thought about that as a sales strategy?

We would love to hear from you! Take a moment to share with us all something you’ve learned. What has worked for you and what hasn’t in building rapport with your clients. We’ll post some of your best suggestions in next month’s newsletter…so send in your winning ideas! If you prefer to remain anonymous, we will happily honor that request!

Send them to suzie@torrid-tech.com.

What Is Other People’s Perception Of You?

Promoting your intelligence can often backfire.

Researchers are checking out how people form first impressions of others’ intelligence and how well it works to try to manage those impressions. They say trying to look intelligent, by using big words, for example, can make people look dumb.

One of the strongest and most accurate signs of intelligence is looking at others when they are speaking to you, says Nora A. Murphy, an associate professor of psychology at Loyola Marymount University in Los Angeles.

Another study showed that people trying to look intelligent had a few behaviors in common. They looked at the speaker while listening or talking, put on a serious face, and they avoided gestures such as touching their hair or face. Just the first two were effective.

The Wall Street Journal’s Sue Shellenbarger says people trying to look intelligent risked showing what they didn’t know. Observers were more accurate in estimating IQs, including lower IQs, of those instructed to act intelligent than in estimating IQs of controls who weren’t given any instructions. Participants trying impression management actually magnified cues signaling low intelligence.

Simple stereotypes can also shape first impressions. Wearing glasses can lead strangers to regard you as more intelligent, according to a study in the Swiss Journal of Psychology. And people who embellish their writing with long, complicated words are seen as less intelligent by readers, according to a study in Applied Cognitive Psychology.

We, of course, believe that using RetirementView will certainly make you seem smarter!  You will know more about your retirement picture than most. Did you know that you can receive referral benefits? Share what you’ve learned and save!

For Personal and Couple’s EditionUsers: http://www.torrid-tech.com/refer/

For Professional Edition Users: http://www.torrid-tech.com/refer/refer-pro.html

To Invest, or Not Invest, That Is the Question

Should you invest some of your savings in a deferred-income annuity?

To make a long story short, the  deferred-income annuity will provide a guaranteed monthly income, beginning at the age you set up, for the rest of your life. If you should die after it’s set up, however, you lose whatever is left. Your heirs won’t get anything.

But the chance that other buyers might die before collecting is one reason insurances offer a higher payout for this kind of annuity than for other products that guarantee income.

Say you’re 65 years old and invest $100,000 in New York Life’s Guaranteed Future Income Annuity. If you defer payouts for 15 years, at age 80, you will receive $28,695 annual income for the rest of your life.

If you have no serious health issues and people in your family tree lived long lives, it could be worth a look. If you doubt that you’ll live into your late 80s or 90s, maybe not.

One Treasury Department ruling offers another reason to consider a deferred-income annuity. You can now invest up to 25 percent of your IRA or 401(k) plan (or $125,000, whichever is less) in the annuity without having to take required minimum distributions at age 70 1/2.

Before the Treasury ruling, some insurers only allowed investors to use money from taxable accounts to purchase deferred-income annuities. Others required purchasers who used money from tax-deferred accounts to start receiving payments at age 70 1/2.

The Treasury ruling is expected to encourage more insurers to add deferred-income annuities to their lineups. If you’re tempted to buy one, retirement researchers at Morningstar Investment Management recommend waiting a few months because competition could lower prices.

Through a 1035 exchange, you can convert your life insurance into an income annuity without paying taxes on your gains. You’ll give up your death benefit, but you’ll also no longer have to pay premiums. You can lock in monthly income for the rest of your life or for a designated number of years.

Try putting those scenarios into your RetirementView and see what the graph shows. Does it make sense for you to do that or not. Just something to consider.

July Newsletter for Consumers

Check out our July Newsletter here:

July Consumer

 

Here’s a summary:

Universal Genius

As a follow-up to my article about the Disney® cruise, I wanted to share with you some experiences with the Universal resort in Orlando. We visited there after our cruise because our kids just love it. In fact, they love it more than Disney’s Magic Kingdom, mainly because the rides are so much better. See what I learned at Universal Studios and how Harry Potter can change your marketing strategy.

The 9 Word Rule

You see the Jones family with a new car, a boat in the yard with a fancy new truck to pull it. They might have the dough to afford this or, just as likely, you might be seeing everything they have parked in the driveway.  Investing for wealth instead of buying cars requires putting your paycheck above your ego. You can’t care what other people think. What are the 9 words that can make a difference?

No More Couch Potatoes

Summer is a great time to find a new hobby or take up a new activity or sport. You have a little free time and the weather is usually nice. See these tips and a few apps that we some of the staff at Torrid recommends to help you get off the couch and get going.

Puzzles

Who doesn’t love a puzzle or two to take a little brain break during the day. Our full newsletter offers just that! Check those out on page 4

July Newsletter for Advisors

Check out our July Newsletter here: July FA

 

Here’s a summary:

Universal Genius

As a follow-up to my article about the Disney® cruise, I wanted to share with you some experiences with the Universal resort in Orlando. We visited there after our cruise because our kids just love it. In fact, they love it more than Disney’s Magic Kingdom, mainly because the rides are so much better. See what I learned at Universal Studios and how Harry Potter can change your marketing strategy.

The 9 Word Rule

You see the Jones family with a new car, a boat in the yard with a fancy new truck to pull it. They might have the dough to afford this or, just as likely, you might be seeing everything they have parked in the driveway.  Investing for wealth instead of buying cars requires putting your paycheck above your ego. You can’t care what other people think. What are the 9 words that can make a difference?

No More Couch Potatoes

Summer is a great time to find a new hobby or take up a new activity or sport. You have a little free time and the weather is usually nice. See these tips and a few apps that we some of the staff at Torrid recommends to help you get off the couch and get going.

Puzzles

Who doesn’t love a puzzle or two to take a little brain break during the day. Our full newsletter offers just that! Check those out on page 4

Universal Genius

By Tim Turner

As a follow-up to my article about the Disney® cruise, I wanted to share with you some experiences with the Universal resort in Orlando. We visited there after our cruise because our kids just love it.  In fact, they love it more than Disney’s Magic Kingdom, mainly because the rides are so much better.

GreenEggs&Ham

Green eggs & Ham Building in Dr. Seuss Land

Genius point #1:  Universal provides unique rides and experiences that no other park offers.  Sure they have roller coasters, but no other park has Dr. Seuss land.  This section of the park is totally customized to make you feel like you are inside a Dr. Seuss book.  I have been there many times and I am still in awe of the trees, the Caroseussel, and the building shaped like green eggs and ham.

Our favorite ride there is just a small train that rides above Dr. Seuss land giving you a view of the entire Dr. Seuss experience but from above. What can you do in your business that is totally unique to you?   If you say “nothing”, you need to spend a lot more time thinking about it.

Genius point #2:  Universal capitalizes on megatrends.  They don’t sit on their laurels.  They have jumped all over the Harry Potter craze and it has skyrocketed ticket sales.  The newest Gringotts ride had a 7 hour wait when it opened.  Absolutely unheard of!  What demographic trend can you take advantage of?  It might just be a specific niche like baby boomers, millennials, or seniors.

Wands

A Wand shop in Diagon Alley at Universal Orlando

Genius point #3: This one is not as applicable to the financial industry, because it has to do with “upselling” a product or service.  In the new Harry Potter section called Diagon Alley, they sell magical wands just like in the other section of the park.  These wands sell for $36.95 each – for essentially a piece of plastic.  Now some genius figured out they could embed a chip into the wand and then hide the receiver’s around Diagon Alley.  You can then go around to different spots on a map to waive your wand, cast a “spell” and make things happen like making lights turn on or curtains in a window open.  Not only does that make people want a wand itself when they see kids doing this, but it makes kids want the “interactive wand” that costs $44.95 – a 20% premium.   As a business person I found all of this tied together as pure business “genius”.  (I won’t comment on my thoughts about trying to do “magic”…)

sandpool

The incredible pool at The Hard Rock Hotel in Orlando

Genius point #4:  If you stay at one of their onsite hotels, you get additional perks like early admission and free “fast passes” for almost every ride.  The Hard Rock Hotel, for example, is a family friendly place, unlike the Vegas one.  It has a sand pool, volleyball, dive-in movies, video game arcade, and a 2-story slide for kids.  More importantly it is within walking distance of the park AND all the shops in City Walk.

The genius here is to keep you and your dollars captive for your stay.  If I am at the Hard Rock, how likely am I to get in my car and drive somewhere else to eat, to swim, to shop.  Not likely, which means Universal captures all of my vacation dollars, except the gas I buy to get home afterwards.

Hope you’ve enjoyed learning about some of the business smarts behind “Universal Studios” in Orlando.  I think you’ll agree it really is “genius”…

SeussTrain1     UniversalSeuss  SeussTrain2 GringottsDiagonAlley

 

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