Are you ready for 2011? It's just around the corner!
Every October I start thinking about what my business has looked like the past year, how I want it to look next year, and start setting my goals for the following year. By the end of November, I have them finalized and on paper. I'll start implementing them mentally in December, so that by January I'm pumped and ready to make it all happen.
When business planning one should consider personal goals, economic model (personal & business), business growth planning, and how to reward oneself through the year as specific targets are met. Goals should be something one enjoys, maybe it's going on a vacation with family, taking a few extra days off, a shopping spree (that's in the budget), a weekend with friends, or just a nice long movie marathon weekend. Whatever it is...make sure you actually REWARD yourself. Don't meet your goals and then never allow yourself to be rewarded. After all, what's the point of working hard if you don't have a reward?
I'm very excited about my newest added benefit to 2011: all the same planning processes with new goals, but this year I've added a very important feature...an Accountability Partner. There's nothing like having someone that has the same mindset of growing a business. I love the Keller Williams Mission Statement: To build careers worth having, businesses worth owning, and lives worth living!
Once my accountability partner & I have all our goals finalized we are going to hand off a full copy of our goals to another. We'll talk on a regular basis to keep each other purposeful in business and our family lives.
Do you have an Accountability Partner? No matter what your business, goals, or lifestyle there is an added benefit to having someone to talk to on a regular basis. Maybe this is a good friend you've know for years, or maybe it's someone you just met. But, be careful...not everyone is a good match for you. It may take several tries to find the right connection. It'll have to be someone that is willing to tell you to get off your duff and make it happen, keep you motivated and a like mindset.
Don't be afraid to allow someone to get to know you, they may become your best advocate!
2011 get ready, because here I come!
Aiming HIGH! Succeeding! Exceeding! Those are my goals...what are yours?
Tuesday, November 16, 2010
Tuesday, August 31, 2010
Do you have a Last Will & Testament?
No...Why not? You could save your loved ones a WHOLE lot of trouble & heartache.
Case in point...names have been changed for this scenario:
Deceased/Lien Holder: Jane Doe
Daughter of the deceased: Jill Doe-Smith
Property: 123 Main Street, Anywhere, USA
Lein on property held by: ABC Lender
Property Value: Likely 1/2 the Pay-off
Jane Doe inherited property from her husband Jack Doe that passed 4 years ago. Jane Doe passes 1 year ago. 1 month prior to the passing of Jane Doe, Jane Doe and all other descendants of Jane Doe sign a 'Quit Claim Deed' of the property, 123 Main Street, Anywhere, USA to give the property to Jill Doe-Smith.
When Jane Doe passes, she has no Last Will & Testament. Jill Doe-Smith does not 'probate' the property because it is already 'Quit Claimed' to her. So, she invests in upgrading the flooring, remodels kitchen and bathroom to make the house more livable.
Jane Doe took out a loan on the property at a value currently twice a probable current sales price several years prior to passing. ABC Lender accepts payments from Jill Doe-Smith.
When Jill Doe-Smith is unable to make a few payments, Jill requests at ABC Lender's suggestion a loan modification. ABC Lender requires tons and tons of paperwork, 'Quit Claim Deed' and also a Hardship Letter (all standard procedures). After a few months of negotiating with ABC Lender, ABC Lender tells Jill that she does not qualify for the loan modification because she is not the 'Lien Holder'. Uggh...why did they even ask her to send in the paperwork in the first place?!?!?
Jill calls me, a CDPE, to talk about a Short Sale. She and I talk about her options: Short Sale, Deed in Lieu, or Cash for Keys. We call ABC Lender, County Courthouse, County Probate Court, and an attorney.
During our call to ABC Lender the representatives ask supervisors and refer to their policies...guess what?
ABC Lender says since Jill is not the lien holder, she is not allowed to get the 'Cash for Keys in the amount of $2,500', nor can she sell the house as a Short Sale without a "Letter of Probate" or a copy of a "Last Will & Testament".
On top of all that, Jill received a letter from ABC Lender that they are going to be proceeding with a foreclosure, probably to sell at the courhouse steps in about 6 weeks.
So now Jill is out $12,000+/- for the remodeled kitchen & bathroom, and the opportunity to obtain $2,500 cash for keys and any option to Short Sale the house.
She is awaiting a response from an attorney so she can consult with him on her best move...What to do?
- What are Jill's legal obligations?
- Should she just 'walk away'?
- Should she invest another minimum of $500 and 6 weeks to obtain the "Letter of Probate"?
The point in this is: IF YOU DON'T HAVE A WILL...WHY NOT? No...It's not a fun topic. No one wants to run out and get he latest update on the death of themselves. Doesn't sound like it will be the next 'fad', but oh how important.
Show your loved ones you really do care about them...we are all going to leave this place and wouldn't if be nice if the last gift we gave to them is to tell the State & Court Systems Where TO GO? Go bother someone else...NOT MY FAMILY!
Find an attorney, use an online legal website, or write it on a napkin and GET IT NOTARIZED! Place the original in a safe place tell the one person you trust where it is, and the day you move on won't be a constant reminder of heartaches...You loved ones will be able to thank you and remember all the good times.
I thank my mother-in-law for virtually making us complete our Last Will & Testament and our Living Wills...I know my son and husband won't have the constant reminder of hardships, just the fun times :)
Case in point...names have been changed for this scenario:
Deceased/Lien Holder: Jane Doe
Daughter of the deceased: Jill Doe-Smith
Property: 123 Main Street, Anywhere, USA
Lein on property held by: ABC Lender
Property Value: Likely 1/2 the Pay-off
Jane Doe inherited property from her husband Jack Doe that passed 4 years ago. Jane Doe passes 1 year ago. 1 month prior to the passing of Jane Doe, Jane Doe and all other descendants of Jane Doe sign a 'Quit Claim Deed' of the property, 123 Main Street, Anywhere, USA to give the property to Jill Doe-Smith.
When Jane Doe passes, she has no Last Will & Testament. Jill Doe-Smith does not 'probate' the property because it is already 'Quit Claimed' to her. So, she invests in upgrading the flooring, remodels kitchen and bathroom to make the house more livable.
Jane Doe took out a loan on the property at a value currently twice a probable current sales price several years prior to passing. ABC Lender accepts payments from Jill Doe-Smith.
When Jill Doe-Smith is unable to make a few payments, Jill requests at ABC Lender's suggestion a loan modification. ABC Lender requires tons and tons of paperwork, 'Quit Claim Deed' and also a Hardship Letter (all standard procedures). After a few months of negotiating with ABC Lender, ABC Lender tells Jill that she does not qualify for the loan modification because she is not the 'Lien Holder'. Uggh...why did they even ask her to send in the paperwork in the first place?!?!?
Jill calls me, a CDPE, to talk about a Short Sale. She and I talk about her options: Short Sale, Deed in Lieu, or Cash for Keys. We call ABC Lender, County Courthouse, County Probate Court, and an attorney.
During our call to ABC Lender the representatives ask supervisors and refer to their policies...guess what?
ABC Lender says since Jill is not the lien holder, she is not allowed to get the 'Cash for Keys in the amount of $2,500', nor can she sell the house as a Short Sale without a "Letter of Probate" or a copy of a "Last Will & Testament".
On top of all that, Jill received a letter from ABC Lender that they are going to be proceeding with a foreclosure, probably to sell at the courhouse steps in about 6 weeks.
So now Jill is out $12,000+/- for the remodeled kitchen & bathroom, and the opportunity to obtain $2,500 cash for keys and any option to Short Sale the house.
She is awaiting a response from an attorney so she can consult with him on her best move...What to do?
- What are Jill's legal obligations?
- Should she just 'walk away'?
- Should she invest another minimum of $500 and 6 weeks to obtain the "Letter of Probate"?
The point in this is: IF YOU DON'T HAVE A WILL...WHY NOT? No...It's not a fun topic. No one wants to run out and get he latest update on the death of themselves. Doesn't sound like it will be the next 'fad', but oh how important.
Show your loved ones you really do care about them...we are all going to leave this place and wouldn't if be nice if the last gift we gave to them is to tell the State & Court Systems Where TO GO? Go bother someone else...NOT MY FAMILY!
Find an attorney, use an online legal website, or write it on a napkin and GET IT NOTARIZED! Place the original in a safe place tell the one person you trust where it is, and the day you move on won't be a constant reminder of heartaches...You loved ones will be able to thank you and remember all the good times.
I thank my mother-in-law for virtually making us complete our Last Will & Testament and our Living Wills...I know my son and husband won't have the constant reminder of hardships, just the fun times :)
Monday, August 2, 2010
Take some time for your family & yourself
Last week I had the opportunity to spend a week at the beach with my family. I think it has been 3 or 4 years since we have taken the time to on on a long vacation. We stayed at a wonderful beach front resort in Panama City Beach. The weather was perfect, beaches were clear and no sign o f the oil spill
I don't know why we work so hard without taking a full week off. I know taking time off is important not only for my family and me, but also for my business. There is nothing like a week of R & R.
The older I get the more important the time with my family becomes. Although...my business is still very demanding and tends to try to sneak in before my family and God. I guess that's part of being an entrepreneur.
My husband's parents, my son and I were able to stay for the whole week. My husband, unfortunately, headed home early to go to this class. We missed him, but I'm glad he's so responsible:). I was able to spend some real quality time with my husbands parents as well. They are so awesome and so great to setup the whole week.
I hope you took some time off for your family and yourself this Summer. If not, then make it a priority on your calendar for this Fall!
I don't know why we work so hard without taking a full week off. I know taking time off is important not only for my family and me, but also for my business. There is nothing like a week of R & R.
The older I get the more important the time with my family becomes. Although...my business is still very demanding and tends to try to sneak in before my family and God. I guess that's part of being an entrepreneur.
My husband's parents, my son and I were able to stay for the whole week. My husband, unfortunately, headed home early to go to this class. We missed him, but I'm glad he's so responsible:). I was able to spend some real quality time with my husbands parents as well. They are so awesome and so great to setup the whole week.
I hope you took some time off for your family and yourself this Summer. If not, then make it a priority on your calendar for this Fall!
Tuesday, April 20, 2010
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