A 10 Point Financial Survival Guide for Your 20s

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It’s been said time and time again that we Millennials don’t appreciate the value of hard work. That we’re good for nothing deadbeats who don’t have any goals or ambitions.

If I felt that were true, then I wouldn’t have started New Inceptions. However, I know that there are many of us who are doing great things, but due to our focus on those great things, we start losing perspective in other areas of our life.

One of the things I believe that many of us don’t get the chance to focus on is finances. I know I didn’t know how to handle most of my finances until after my mom passed. It was because I suddenly had my inheritance that I was like “whoa, I need to figure out what I’m to do with these funds!”

So, now that it’s been a few years of managing assets, I feel that I should share with you some of the things that I did that have helped me keep above water.

Things I wish I would have Done in My 20s

1. Educate myself more about how long term investing works with day to day expenses. You know, I talk all the time about how I started paying attention to finances when I was in high school. And later in my early 20’s, I read Rich Dad Poor Dad series of books. But the truth is, the stuff I learned about finances is so out there from your day to day issues, that I started living for the future and not really paying attention to money planning that would benefit me in the nearer term.

For example, until 2011, I had no idea what IRAs (Roth or traditional), mutual funds, and annuities were or how they worked. I had no idea what index funds were and why I might like those more than mutual funds. No idea. I had no idea what I could be taxed on until I was actually taxed on it. Common Stock vs Preferred Stock? Distributions? Not a clue.

However, I have found some resources that have helped me get a better grip on where I am and what I’m looking to do, and I believe you’d get plenty out of them yourself.

Radio and TV:

  • Dave Ramsey Show (Start here if possible! Kinda all over the board.)
  • Suze Orman (She can be pretty truthful at times. However, you can tell she has passion!)

Blogs:

Books:

2. Build a Line of Credit

If you’re worried about taking on debt as a 20 something, that’s fine. Especially if you’re in college and don’t have a way to pay pack a huge debt that you can easily rack up on credit cards. That said, you need to realize that eventually you’re going to probably want to get a mortgage for a house. Let me tell you this can be a problem, even if you’re willing to put in 50% of the down payment. Any credit card will do nicely for this. Personally, I recommend something with a $1000 limit so that you don’t get tempted to use money that’s not yours on that new TV or wardrobe.

3. Start Tracking My Credit Score

If you’re going to start a credit card, you need to keep track of your credit score. The easiest way I’ve found to do this is by using a free service, but many times you’ll find out that they somehow start charging you on a monthly basis if they ask for a credit card or bank account. The best way to do that is through one of the three credit bureaus such as Equifax.

4. Start Watching My Identity

There are tons of ways that a person’s identity could be stolen today. So when you do use a card, you should probably figure out a way to put monitors up for your own piece of mind. Personally, I have two subscriptions. I use LifeLock AND Equifax to monitor my identity. I would think that LifeLock is good enough (there’s different plans available – I think mine is $100 a year?), but Equifax and the other credit bureaus have the ability to actually do something about your credit while LifeLock just monitors.

Even if you don’t get a service like LifeLock, I recommend checking your credit score at least once a year.

5. Start a retirement account.

Many people think that the word retirement refers to an age. To me, retirement doesn’t take an age. It takes an amount of money. It is the point where you no longer have to work to support yourself. Am I to that point? No. I don’t know if I ever will be. However, that doesn’t keep me from investing. The sooner, the better. In Tony Robbins book, he says, “You have to commit a certain percentage of your income to savings for your financial freedom. Whatever that number is — 10%, 15% — stick to it in good times and bad. Have it taken automatically from your paycheck and put directly into a retirement or savings account.” He says that if start doing this from your 30’s or especially your 20’s, you’ll live comfortably just as you hit your mid 50s.

In other words, it’s better to own a piece of Apple then it is to own the newest Apple phone. Personally for me, as I’m writing this, the one stock I do have is in Tesla and currently it’s up from where I bought it at $189/share to roughly $280/share. I also have a couple annuities, a mutual fund, and ownership in a couple of businesses, and some other odds and ends. Make money work for you sooner than later.

6. Start an emergency fund.

Even if you happen to strike it rich in your 20’s through your first job, you need to save some of that money. Always pay yourself first. Yes, I’d recommend starting to invest some of that, but you also need to keep some of it relatively free just in case. I mean, let’s face it – stuff happens! Instead of taking on more debt to pay for an accident with your car or first house, you’ll be able to pull from this emergency fund. I’d say make it a goal to set aside $1000 as a good starter amount. As you get older, you can increase it to better suit your needs.

7. Make a Plan to pay off Student Loans.

Currently, most of us who go to college do so partially thanks to Fannie Mae and friends. So make it a goal to start eating this elephant one bite at a time as soon as you get the previous items knocked out. First and foremost, get to the ones that have variable interest rates. You never know when the government will jack these up. After than, start looking at your federally backed loans. While the smaller per month payments might sound more manageable, in the long run you’re actually paying more through the interest. If you’re single and working, now’s a great a time as any to get started on repaying your loans. Get them knocked out before you start trying to do anything else in life such as starting a family or buying a house. I’d recommend using 10% of your paycheck towards paying them off.

8. Hustle Everyday (or at least every other day)

I was just listening to a podcast of Lewis Howe’s where he interviewed Kimberly Guilfoyle. Besides the fact that she’s a ball of fire (and if you listen to the interview, it’s easy to see why), she also has hustled most of her life. I mean, wow. Her track record is totally impressive. One part of the interview that stuck with me was when she was talking about when she was in school that she not only was a full time student getting a 4.0, she was also doing an internship at the local DA AND was manager in retail. I mean, that’s like… super hard. Being a student getting good grades was hard enough, let alone adding two other completely different roles on top of that!

Obviously, this shows that she hustled. She didn’t want to have loans when she was done. But it’s not like she did anything special. You can have her results too. Maybe instead of taking a non-paying internship, you can pick up something part time? Or if you already do work part time, perhaps you can pick something else up? Maybe be a tutor if you’re a upperclassman? Or if you’ve already graduated and are working in your first job, maybe the best thing you could do is start your first official business?

The point is, don’t put all your eggs in one basket. You never know what’s going to fall out the bottom.

9. Become a Picker

One of my favorite shows that I’ve been watching for a few years now is American Pickers. I started watching because of the old junk that they found and found value in – I inherited plenty and have a curiosity about it. Anymore, however, I’ve been watching to see how they start their negotiating with the people that they buy from. If you think about it, negotiation is something that those who are highly successful in business deals know how to do. Also, if you’re familiar with the movie Erin Brokovich, you’ll remember this clip. Needless to say, if you can learn to make a strong case to get something you desire, you’ll have the world by the horns.

10. Set Long Term Goals

Even though I read Rich Dad Poor Dad in my early college years, I never truly set any goals from reading it. I think if I had, I would probably be in a different financial situation than I am now. I’ve recently come to the conclusion that when it comes to goals, you definitely need a destination. However, I don’t know if the steps are nearly as important as everyone eludes to. If you don’t take part in the journey, it doesn’t matter where your destination is, you’ll never get there. Right?

If this is the case, it makes sense that we should be able to vividly describe what our ideal goals are. Where are you? Who are you with? What are you doing? These are all things that I think you should think about as you’re on your journey. That end might change a little here and there, but you’ll be much better off for doing it than if you had not.

Whatever your goals are, write them down and start working on them asap.

Can you think of any other financial goals a 20-something should do? Share them below in the comments!

5 Ways to Make Marriages Work

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So, a few weeks ago during the middle of the Millennials as Entrepreneurs series, there was a little article that made some waves in my Facebook News Feed. While many friends agreed with it, Maria and I kinda thought it was a little off center.

As we were reading it, it occurred to both of us that the problems that the author, Anthony D’Ambrosio, noticed were superficial problems. That said, I think in general that the problems that many Millennials have are due to much deeper problems. Problems that are going to take some actual time and possibly some self investigation to figure out.

So, here’s my tough love advice in how Millennials (well, really, anyone) can make marriages work. After reading this list, I hope you’ll have better luck in the marriage department!

Statement 1: Sex Becomes Almost Non-existent

My Response: Check Yourself Before You Wreck Yourself

First and foremost, let’s not confuse sex columnists with relationship columnists. They are not one in the same. Sex experts generally run in the same circles as pickup artists and porn stars, while you usually find relationship columnists in circles of people like John Maxwell, Les Brown, or a Gary Chapman. They’re typically not the same people.

Need an example of who you might listen to? Ok. Then let’s take an example that I’m sure you’re familiar with: Dr. Drew Pinsky of Loveline.

Now, Dr. Drew has been in many of our lives since we were growing up. (It’s still hard for me to not think of him AND Adam Carolla hosting the show.) However, he’s not just about sex, even though many of us would think he is. He’s actually a licensed Physician and Surgeon. On top of that he’s been married since 1991 and has a couple of kids. So obviously, you can listen to him as he does have experience.

In contrast, sex educators like Emily Morse and Sandra Daugherty, while they might actually have credentials to talk about sex, you can tell just by listening to their podcasts that they have issues with relationships.

Also, you’ll also notice that in the political spectrum, relationship experts are generally more conservative while sex experts are more liberal.

So make sure you’re getting advice from the right kind of expert here.

Now that we have that ironed out, here’s something else to consider. Gary Chapman’s book, The 5 Love Languages tells you all you need to know about filling up your partner’s love tank. In the article, Anthony says that sex is the “most important part” of a relationship. Well, there’s a type of person that’s like that in Gary’s book. There’s also 4 other types of people who think that the most important part are other things.  One guess is that Anthony and his spouse might not have had matching love languages.

My recommendation? Find a partner who shares the same love language you have so that you don’t have to think about what fuels their fire, so to speak. 

Statement 2: Finances Cripple Us

My Response: Learn How to Live Under Your Means

Having grown up as the only child of a single mom, I’ve kind of always known about the problems of the household. People need to vent at times and frankly who else was she going to tell? Of the many things that my mom could have talked about, the thing that she did talk about the most was finances. I think mainly because she didn’t understand them herself until she was in her late 40’s. Even then, she wasn’t a master. So she made sure that I was interested enough to study them myself. In the end, I learned how to be frugal. Lol, who am I kidding. I might suffer from being a tight wad… but I’d sooner be that than out on the streets.

One of the things that Anthony talks about is that he can’t live life because of all the debt he has.

Well. I don’t have debt. Not much, anyway. Hell, I didn’t even have a credit card until a couple of years ago. Why? Cause either a.) I worked my tail off to get what I wanted in college and bought with cash. or b.) mom helped.

NEEDS vs WANTS

However, her helping me didn’t come free. There was a trade off somewhere. Many times my WANTS were put aside for my NEEDS. For example, I’ve never owned a brand new car. Would I like one, sure. Who wouldn’t? But instead at college, I rolled around in my 1983 Oldsmobile Firenza and later my 1995 Chrysler Lebaron. I made the trade of getting a college degree vs having a sporty looking import. (A side note, it’s 2015 and I just scored an awesome 2007 Dodge Magnum. Pretty pimp if I do say so myself. Has the space for the future me but the engine of the now me!)

Another want? To go on vacation. Like, for it to be paid for and not worry about money. As far as vacations go, the last vacation I took was my honeymoon in 2013. Thanks to gifts from my wedding. Before that, the last vacation I had was in 2003 to Las Vegas… where I didn’t play anything more than $50 at the slots? All other trips I’ve taken have been road trips to visit family. Not really vacation.

Don’t judge your life based on other’s high points.

Another thing he mentions is that he sees others having awesome lives. That we’re “forced to see the life everyone else is living.”

I don’t know what kind of life he’s living, but the awesome pictures that I see others posting on Facebook and other social media are more than likely those people’s high points. To judge yourself based on an endless stream of those highs, is really not fair to yourself. So stop it. Seriously. The people who travel all the time? They probably aren’t in a steady relationship unless you see that person too. The person who posts pictures of their family? They probably desperately want some alone time. One thing that has helped me out quite a bit is learning how to curate my news feed. Now all I get are pictures of cats, memes, and political stuff. Totally ok by me!

That said, if you have no idea how finances work, then you’re going to be the victim of your circumstances. Unfortunately, that rarely ends up at an ideal destination. Want to start learning about finance? A great source would be Dave Ramsey’s show and/or podcast. He’ll give you all the tough love you want.

Statement 3:We’re more connected than ever before, but completely disconnected at the same time.

My Response: Put down the controller and go outside, kid.

People who can’t learn to put down their phone or tablet or put down their laptop, apparently were never told to go play outside as a kid. I admit that I am the definition of a gamer and even I know when I’ve had enough. But that’s because I’ve been around technology all my life. I was a geek before it was trendy. I have this clock inside of me that tells me when it’s time to do something productive.

So, first hand, I’ll tell you this: If you want to lose time quickly, stare and interact with a screen that has moving things on it. Time will fly by, I guarantee it. Likewise, as an adult, poking at social media all day isn’t any different. The same synapses are firing in your brain.

Going outside to play makes life slow down as a kid. As an adult, putting down your phone and just being present is what you should be striving towards. Stop worrying about things you can’t control. You’ll drive yourself insane if you do otherwise. Don’t let your social media and technology control you. Learn to control it. Learn to know when enough is enough.

Statement 4: Our desire for attention outweighs our desire to be loved

My Response: There’s an empty hole inside you, dear serial selfie taker.

I have never taken a selfie. Not once. Have I had other take a picture of me? Yes, of course. There’s a difference. In my case, a big difference. I’ve never enjoyed having pictures of me taken – even when I was a kid. I know a part of it was that I didn’t like looking good in pictures – that kind of still lingers to this day. However, I think the biggest thing was that I didn’t like being the focus of attention. I’ve never been interested in being a celebrity.

However, there’s a difference in being a celebrity vs what celebrities have, don’t get me wrong. If I could be a part of the infamous 1%, I would. Even with the media hating on them and people constantly trying to assassinate them or the need of constantly having to worry about million dollar deals on a daily basis, I’d think that would be awesome. Why? Simply because with money does come options to help people in ways that no one person can do otherwise and frankly, who wouldn’t want the ability to have the finer things in life if it was desired?

But outside of being a teacher and speaker, I have no interest in being in front of people. If I am going to be in front of people, I better be adding value to them. 

Statement 5: Social media just invited a few thousand people into bed with you.

My Response: This is actually a continuation of Statement 4…

Ok, so you don’t take selfies. I’ll give you points for that. But why would people feel it necessary to take pictures of their wardrobes? Or during their date? Why? What’s that going to get them? Again… you’re going for bragging rights or least some form of being a celebrity. The last I heard, true celebrities are made the old fashioned way. They’re selected by the powers that be. Just because some people Liked your last Instagram picture, doesn’t make you an insta-celebrity. If you want people to stick around in your life, leave them feeling better than when they came in it. They’ll never forget you.

So, that’s just my 2p…

What about you? Are you or anyone you know struggling with the above problems? Are you guilty of some of these? Is your significant other? How about a friend and their mate? Did you say anything similar to what I’ve said above? In the comments below, I’d like to hear about cases in your life… and if they were a friend, what you told them!

A Look at Today’s “Lost Generation” – Are We Repeating History?

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Last week, I completed the 10 part series of why Millennials should strongly consider being entrepreneurs sometime during their career. I strongly believe those who lead this movement are going to be the leaders of not only their own businesses, but the next generation as a whole.

In part 6 of the series, I touched briefly on how many believe that Millennials are the today’s Lost Generation. However, I didn’t spend much time actually defining what the means.

We’ve seen the problem we have today before. In fact, the last generation which was actually referred to the Lost Generation was the generation that came of age during World War 1. In a story involving Ernest Hemingway and Gertrude Stein, a garage owner referring to a young mechanic called those who had been through the war as une génération perdue – translating as “a lost generation”. Furthermore he added, “That is what you are. That’s what you all are… all of you young people who served in the war. You are a lost generation.”

Looking back we can understand why he might have said this. The events surrounding the war led to young people realizing that life was going to be rough for them. This belief was backed by many promising young lives being lost as casualties in the war itself. So, of course those who survived are going to be potentially depressed and not care as much about their career and place in life. Obviously, there was probably a lot of undiagnosed PTSD going around.

Furthermore, the world that they learned about from their parents didn’t exist anymore. So naturally they questioned the principles of their parents’ generation. Combine this all together and you get a lack of certainty, direction, and purpose. This led many to search for deeper meanings and truths. Finally leading many American artists and writers to Europe as “wanderers of culture”. Hemingway and Stein were a part of this group.

It sounds to me that the phrase “Lost Generation” was more of truthful description back then. While the comment the shop owner said was probably meant to be an insult, it actually had a lot of truthfulness to it.

The Past Can Help Predict the Future:

In Strauss and Howe’s Generational Theory, there is a noticeable cycle of eras spanning roughly 20 years called turnings. These turnings are caused by generational events which define the turning’s mood.

According to many out there (especially this subreddit on reddit.com), there are a lot of similarities of the Millennials to the Lost Generation. We’ve both had a war to fight which wasn’t really ours to fight. (Both, many would say, were started for questionable reasons as well.) We’ve both also had to come to terms with a world we weren’t programmed since birth for. The list goes on. To many out there, it’s not a great time to live in.

Young adults everywhere are questioning the whole “Get good grades, go to college, and get a good job to support a happy family” plan. And it makes perfect sense in why they’re doing that. For one, the jobs aren’t there which you need a degree for. And frankly, the end result didn’t really happen for our parents half the time. So why follow their plan if we see it not working?

So yeah, Millennials could be seen as the New Lost Generation. Sure. There’s definitely a case for that.

However, if you really look at the Generational Theory, you’d see that Strauss and Howe believe that Generation X was the most recent Nomad Generation (which is what the Lost Generation was) – not the Millennials. In that same vein of the thought, the GI Generation (aka the Greatest Generation) were those that came after the Lost Generation and took the world by the horns.  This group is who they compare Millennials to. People remember them. Generally we don’t remember the Lost Generation.

Interesting, huh?

Going from Good to Great

So, the summary is this. We are kind of a mixed generation. There are those of us who are caught up in the “I’m a victim of the times I live in” mentality. Those that are Lost. And then there’s those of us who want to be Great. We realize the world could be better, yes, and we’re driven to make it that way again.

So the question is… which one are you? If you consider yourself part of the Great, what are you going to do to make this world better then how you found it? Below let’s talk about what you’re doing and how you’re paying it forward.

Millennials as Entrepreneurs, Part 10 of 10: Where To Get Started

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In the end, as I mentioned in the last part, the decision is yours to make in whether or not being an entrepreneur is right for you.

 

A few good questions that I’d recommend asking yourself can be found in this article:

 

  • Are you comfortable with uncertainty?
  • Are you willing to put off good for the great (even though the great isn’t guaranteed?)
  • Can you wear multiple hats when needed?
  • Can you deal with a daily emotional roller coaster?
  • Can you stay committed to building a successful business even though there will be plenty of barriers set before you?

 

If you answer yes to all of these, then you’re good to go. If you realize that life is not a practice run, I don’t see how you can’t say no. Everyone deserves an adventure in their life to find out what they’re made of.

 

Personally believe that we only live life once and we should all at least try going solo once. Maybe it works out, maybe it doesn’t and it’s a big learning experience. Either way, at least you’d know.

 

Figure Out Your Type of Business

 

As we’ve explored, there’s plenty of business opportunities out there. Which one will work best for you? The main thing that I want you to think about is that there’s really no true offline business anymore. I mean, you can be, but you’ll be doing yourself a major disservice.

 

Even if you decide to go towards starting say… a daycare, for example, you should probably be adding some sort of online element. Parents would love to check up on the activities that are going on with their kids and what adventures they’re going on from day to day. Heck, if you get something like a GoPro, then perhaps you can strap one on to them from time to time and see what they see? Or heck, start writing a blog about tips and tricks to correspond with what they did during the day (This is just me thinking out loud.) Can you imagine how many customers/kids this daycare would get vs those that didn’t?

 

Educate Yourself, Leaders are Learners

 

Remember, as a business owner you need to be a leader. One thing I learned out of being in LTD was that Leaders are Readers. However, you don’t need to actually read books. You need to be learning. Whether or not you’re learning from audio books or listening to podcasts, or watching educational videos, you need to be learning regularly.

 

The best thing you can do is not look at it as a chore, but as part of your strategy. Start utilizing a filing method (Evernote or something similar would be useful) so that when you have say a post or doing something new, you can fall back on that information. That fresh perspective on the topic will make you look good to your customers.

 

Affiliate – Find a Community that Supports Your Decision

 

Another thing that will help is affiliation. Learn about your potential community before you dive into it. There’s different ways you can do that. You can mingle with potential customers, or you can mingle with other like minded people who are in charge of their own startup. Both have huge benefits in being involved with!

 

B2C Groups – Going to groups that have potential clients is a great way to figure out what products you need to develop. For example, if you’re wanting to start that daycare, find out from other parents what kinds of things they do or don’t like about daycares that are available to their kids. You can ask these parents individually or host an event. Either way, you’ll be getting valuable information that will give you a leg up on your competition.

 

B2B Groups – In Indianapolis, I like to think we have a huge tech startup community. Obviously, not as big as certain places on the west and east coast, but still something pretty strong. I think a big part of that is Verge and the The Speak Easy.

 

As I’ve seen these groups grow up, the party has just gotten bigger and bigger. Groups like these support tech startups – which is huge in Indy. However, there’s groups like Fizzle.co that support online businesses.

 

If you’re wondering if there’s a nearby group interested in what you’re wanting to do, check out meetup.com – you’d be surprised on what’s on there. If there’s nothing there, then perhaps you should start a group? Here’s a recent SPI podcast that illustrates how important masterminds are. Perhaps a good place to find people to be part of your mastermind might be reddit?

 

Next Step? Take Action.

 

If starting a business is something that you want to do, start as soon as you can. Is there something you need to get trained in first? Assuming that you’ve talked to people in that field and that you really want to be a part of, that might be your first step.

 

If there’s no special training required, perhaps your next step is to start looking into hosting your site. Or if you want to start in the real world, perhaps your next step is figuring out how you can start finding customers.

 

Whatever it might be, it’s time to start your adventure.

Millennials as Entrepreneurs, Part 9 of 10: A Generational Decision

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“The choices we make today are going to have impact on at least two generations after us. That means our kids and our grandkids.” – Campbell Haigh at an LTD Rally in 2007

 

I’m not sure about you, but that kind of frightens me a bit. As of right now, I don’t have kids (they’re in the not too distant future), but you know, I want to be a good example for them. Personally, with all of the political stuff that we’ve been through as of late with more people getting on welfare and believing that society owes them… I’m somewhat worried about my kids getting an influence from that thinking.

 

However, I realize that I can’t protect them from that fully, and potentially one of the biggest things they can see me do is struggle to get New Inceptions to what it has the potential to be in the future.

 

History is Written by Winners – How Will You Impact History?

 

Perhaps the business that you start will only be known about by your family in the future. Or, like Steve Jobs, your name will go down in infamy. That’s luck of the draw.

 

But really, as we’ve eluded to, you have to be a leader to get due credit – bad or good.

 

Something I also heard from the rally I quoted at the start of this section was this: A majority of people who are on their deathbed always wonder about their legacy. If they are going to be remembered. What could they have done differently?

 

This is something else that has driven me to make a mark in the sand. I don’t want to live the rest of my life wondering “What If?”. What if I had actually taken the time to start something? What would I have done? Where would I have gone? What would my family had been able to experience?

 

I know that if I do nothing, then nothing will happen. I know that if I work for someone else, they’ll get most of the credit for what I’ve done. We, as people, have the need to be recognized. At what level varies from person to person. I want to be remembered as someone who did something during a time that I could have chosen to mail it in with so many of our generation or do nothing. What’s the opposite of caring? No, it’s not hating. It’s indifference.

 

I’m simply suggesting that you do what Brendon Burchard talks about all the time: Live, Love, Matter. And personally, I don’t think there’s any better way of doing just that than by being an Entrepreneur.

 

Making the Big Choice

 

As I’ve been trying to make the case for as many Millennials to start their own business in this series, I realize that it’s going to be an individual choice for everyone. For me, it’s never really been a question on whether or not I’d go down this path, but when.

 

Personally, I’ve always kind of struggled with authority and even my the most influential people in my life have always asked when I was going to start my own thing. I guess my main problem was that I wasn’t quite sure what I wanted to do as a business. It wasn’t until I found fizzle.co that I felt that I had the backing and the proper check points in place to start.

 

So that’s one of the things that I would recommend is that if you’re looking to start something, see if you can’t seek insight into that world from people who are already there.

 

Another thing that kind of kept me back was wondering if I knew all I should about whatever it was that I was going to build NI on. Probably just like you, I don’t necessarily feel that I’ve accomplished much. However, when I ask others if I’ve been successful, they say that I have. In fact, they’ve even pointed out a few products that I can make right away.

 

Your hurdles might be completely different. Maybe they’re financial hurdles. Maybe they’re time issues. Everyone will have different things to get through. However, you need to make the choice. It’s either yes or no. And you need to live with and accept that choice.

 

Again, personally, I think it’s much easier to accept a choice when at the end you can at least say you HONESTLY tried.

 

You’re Unique: Share Your Voice, Your Passion, Yourself

 

You’ll probably have the same question as I did. What have I achieved? What do I know? How can I add value to others? The simple truth is that we’re all different – each of us has a story. Even someone that does car maintenance will do it differently compared to another mechanic. Does he see it as something that “needs to be right”? Or does he see it more as an art form? Does he work on cars for historical significance? Or is tinkering simply his passion?

 

When you think of your skill sets, what makes you different? When other people see something as a task… how do you see it? Perhaps it is something like car maintenance. Perhaps it’s something so niche and focused that many people will instantly see you as the expert because before you came, there was nothing.

 

Either way, your individual take and expertise is needed!

 

So below, I’d like you to think of and share at least 5 things that you believe is no big deal that you could 1.) be able to teach others to do or 2.) be able to do for them.

 

What passion and interests do you have that you could share with others and add value to their lives?

 

Millennials as Entrepreneurs, Part 8 of 10: Leading is An Ideal Goal for Us

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In part 1 we discussed some statistics about what Millennials want in the work place. I’ll share them again:

 

  • 64% of them say it’s a priority for them to make the world a better place.
  • 72% would like to be their own boss. But if they do have to work for a boss, 79% of them would want that boss to serve more as a coach or mentor.
  • 88% prefer a collaborative work-culture rather than a competitive one.
  • 74% want flexible work schedules.

 

Look at that second number. 72% of us want to be our own boss. To do that, we have to run our own business. And to do that, need to have some sort of leadership skills.

 

The World is Full of Followers who want to Lead

 

In the 6th installment of this series, I talked about The Prussian Education System contributing to why Millennials are Lost. How it has been used to create a population of soldiers who follow the oligarchy of the Progressive Movement that originally installed it. They want and continue to want followers.

 

The other contributing part to the Lost Generation can be found in part 1, when we saw how Millennials generally want a lot out of life.

 

The catch is that these two ideas contradict each other. One of them is going to have to yield to the other.

 

So far it seems it seems that many of us don’t know which to choose. In fact, many of us are even pushing back our internal clocks to have more time to develop “Me”. It seems like a whole lot of confusion. Do we invest in a job that might have the conditions we’re used to or do we invest in ourselves and create that atmosphere for ourselves?

 

Leaders Get The Credit Through Failure

 

If there’s one thing that we’ve learned from our role models growing up is that leaders get the credit. From our coaches in high school, to athletes in the pros, to politicians, and award winning actors, we see that those who succeed get the most credit. It is almost intolerable for us to be unsuccessful. We have grown up most of our life believing that we CANNOT and MUST NOT fail.

 

The problem with this is that we now have a generation of people who don’t really know that failing is a part of learning. That we can’t really learn something until we’ve tried to apply knowledge and screw up.

 

Many of us have not heard of all the failures that successful people have had before they were successful. However, it’s true.

 

As it’s suggested then, we need get out there and fail quicker! Otherwise, the alternative is taking a seat and job hopping in the new economy – something that personally I don’t want to do. I’d prefer security.

 

Leadership is Something Learned

 

Leadership for most of us is appealing and scary at the same time. We know that if we want things to go our way, that we must appeal to others to follow our plan. If we’re successful with spreading the idea, then we find ourself leading. At the same time we know leadership can be lost as quickly as it can be gained if we’re not careful with our followers. So we need to learn how to lead with purpose.

 

A big key in being a leader is actually studying it. Seeing what other people have done successfully before us and actually studying those actions. We can do that through case studies, or the hard way through personal experience OR we can cheat and read books by authors like John Maxwell.

 

Once you have successfully gained influence of others and can wield it successfully, then you are on the path of being a true leader. But just like anything else in the self development world, it’s something that you’ll need to continue to study.

 

Leading By Example

 

In the comments below, I’d love to hear about your experiences at being a leader. Whether you’ve had success or have failed at it, let us know below. Also, if you did fail, what did you take away from the experience?

 

Next week, in part 9, we’ll discuss making the big choice. Those that succeed in building a business will be the ready made leaders after 2020. Will you be a leader or a follower? We’re in a perfect place in history to make our collective mark for other generations to follow!

Millennials as Entrepreneurs, Part 7 of 10: Easiest Method of Self Expression in One’s Career

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In the last session of this series, I had a little tough love for our generation. But there was a reason for that. A lot of us ARE lost. Not lost as in a lost cause but lost as in confused. It is said that when people are confused, they lack clarity on what action to take – so they take none. The secret on taking action is to first find out where you are.

 

Just like when you’re lost geographically and you want to get somewhere, you need to know where you’re at so that if you had a map, the map could actually be of use to you.

 

Part of finding out who you are includes finding your personality. Another part includes finding your purpose in life. To Millennials, these are highly important. We are very self expressive. (You might not think you are personally, but then again we are the Generation of “Me!”.)

 

When you find your purpose in life, life gets that much easier. You start making choices that reflect where you want to go. It’s a life hack that is well worth the search.

 

On the other hand, when a person hasn’t found their purpose, there’s a good chance that they’ll jump from occupation to occupation or vise to vise hoping that they can fill the void in their life.

 

How to Find Your Purpose

 

Personally, I’ve learned a lot about myself since I’ve gotten out of grad school. I’ve had time to figure out what makes me tick and what I’m good at. This has helped me clear the view of what I want to accomplish in life. In other words, I’ve found my purpose.

 

Before you start on your path of finding your purpose, you might need to deprogram yourself. I did this with the book The Four Agreements. I highly recommend this book, however it might come off a little out there. So if you want something that’s more down to earth, try this. It has a longer list of things to remember… but it’s still useful.

 

Once you deprogram yourself, the first part to finding yourself is to recognize your personality. Finding your personality helps you learn how you naturally interact with the world around you. Do you live for the future? Do you live for the now? Or do you live based on where you’ve come from? How do express yourself? How do you think? These are questions that can be answered by figuring out your personality.

 

Once you find out who you are including your strengths and weaknesses (and acknowledging them) then you can start looking at finding your passion. Your passion is basically the concept of what you’re naturally interested in. What do you do with your spare time?

 

People might have similar strengths and weaknesses. They might have similar personalities. But the chances for them to have the same strengths, weaknesses, personality, AND interests is a pretty small chance. This is what makes you valuable. You just need to know where you fit. Once you’ve discovered your passions, you’ll be onto finding your purpose.

 

Your purpose is finding out how you fit into the world. And my biggest recommendation is: Don’t try to force it. If you’re a circle, don’t try being a triangle. If you’re a connector of people, don’t try being a super geek.

 

If You Don’t Program Yourself What To Think, The World Will Do it For You.

 

The mistake of not finding your purpose will more than likely land you in a situation you don’t want or appreciate. I’ve seen several people struggle with themselves through a midlife crisis. Yeah, you remember that phrase? It’s not used as much as it used to be, but people still go through them. Why?
Because they have been living someone else’s dream for them. They didn’t take the time to figure out what they wanted in life… until they realized they were a certain age and it wasn’t what was supposed to happen… to them. They might be really successful if compared to others, but in reality, they should have been doing something else the whole time. Have you ever heard of the expression in regards to a person’s career: “I found that I was climbing a ladder but realized that it was on the wrong building”?

 

Believe it or not, this has happened to a number of our parents. It’s one cause for people suddenly seeking divorce after being married a long time.

 

Have Full Reign to Follow Your Purpose

 

As an employee, we’re told what to do, when to do it, and possibly how to do it. Of course, as an employee this is what we signed up for. We’re selling our most valuable commodity, time, for money. If you have a problem with any of that… you should probably be a business owner.

 

However, if you’re an entrepreneur, there’s obviously risk involved. But there’s also risk if you’re an employee as well. As an entrepreneur, you might find yourself not needed. As an employee you might find yourself… not needed.

 

The difference? When you first started your job, you were guaranteed income. You knew you were going to get paid. As an entrepreneur, that might not be the case. However, as an entrepreneur, you have full control on your career. For some that’s a little hard to handle. Yet for others, that’s all we want to handle. We want to be personally responsible for our own success.

 

In the comments below, let me know if you’re on the path that you feel is right for you. If it isn’t right, say why not. If it is right, let me know how you found this path. Did you go through the above process or simply stumble into it?

 

Next week in part 8, we’ll be discussing Leadership by means of being an Entrepreneur. We touched briefly on this in part 6, but we’ll be looking more at why being a leader gets you closer to your ideal self.