Vanya Wryter Consulting Services

Category: Business

  • What I’d give you if I won the lottery

    What I’d give you if I won the lottery

    Bloganuary writing prompt
    What would you do if you won the lottery?
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    What would you do if you won the lottery? Would you spend it all or would you give it all away? For sure, I wouldn’t do what most expect and here’s why.

    I discovered some interesting statistics about lottery wins of significant amounts. There is a myth that most people go broke after going on a spending spree and purchasing whatever their heart desires. The truth is, these types of dramatic stories make for catchy news. The reality is a bit different.

    For example, you’ll find a statistic like this in USA Today: “Nearly one-third of lottery winners eventually go bankrupt within three to five years, which is more likely than the average American.” Stories about rags to riches and back to rags are like a tale warning us to stay away from excessive spending and unwise long-term planning. There is also conflicting research.

    Studies have contradicted such dramatic myths. Researchers found that “all else being equal, money is associated with greater life satisfaction and well-being. Of course, money on its own may not bring happiness.” The studies found that winners did not throw away their wealth on “extravagant purchases.”

    So before you win, ask yourself, “What’s your plan?” Do you want your life to change for the better after you win a huge sum? 

    Will there be a moment when the clock strikes midnight and your fortune disappears? If so, then indulge in all manner of extravagance! Buy mansions, buy luxury vehicles, like the $18 million lottery winner who spent all his winnings in ten years and returned to his old job. Your fortune will disappear quickly enough.

    If not, spend wisely, learn about investing, and enjoy a whole new level of lifestyle. The research found that more money can mean a better life if you live within your new means. Certainly, if you don’t have to worry about everyday expenses anymore, life can be incrementally more fun and relaxing!

    You might have watched the movie It Can Happen to You, which is based on the true story of a police officer who promised half his lottery ticket winnings to a waitress as a tip because he didn’t have enough change. In the movie, the characters became millionaires who had the time of their lives spending their winnings on making complete strangers happy.

    For certain, if I hit the jackpot, I would do the same and buy things for people – paying it forward – as the expression goes.

    If you won the lottery tomorrow, what would you do with all the extra cash?

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  • 5 Leadership Tips for Self Improvement

    5 Leadership Tips for Self Improvement

    Daily writing prompt
    What makes a good leader?
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    It’s easy to be a bad leader, but it’s more challenging to be a good one. You don’t need formal training to be a good leader, just some practical experience and the critical understanding that you should treat others how you want to be treated. And if you want to be the best leader you can, you’ll always be learning about self improvement. Here are some tips on what makes a good leader to get you started.

    Here’s what a good leader does well:

    1 Leads by example

    A good leader is very hands on. How else can you thoroughly understand the challenges that your team is facing, or how long it takes to complete a task if you haven’t worked on it yourself? Also, if the leader wants their team to work hard, the leader must work hard. The leader leads by example. 

    Even if the task is something you cannot do on your own, by working side by side with your team, you will see who gets the job done most efficiently, who leads others, and who is always eager to learn. Now you know the strengths and weaknesses of your team by working with them.

    2 Asks questions and does not make demands

    A good leader has an open mind. Instead of telling the team to finish the work by Friday, ask if they can complete it by Friday. This question gives them the opportunity to raise concerns and bring awareness to possible roadblocks.

    If a mistake is made, a good leader doesn’t make assumptions or immediately blame someone. A good leader points out the mistake and explains what needs to be fixed. They’ll ask what happened to find out what could have caused the error. The first suspect may not be the cause. Then, the leader works with the team to figure out a way to prevent the mistake from happening again.


    3 Adjusts their leadership style

    A good leader understands that one leadership style does not fit all. Some people need more support than others, especially if they are new to the job. This is not the same as micromanaging. The leader may need to show a new employee once how to do a task, and expect that person to be more independent the second time. 

    Some team members are more social and prefer more team interaction. And some are less social and like to be left alone to complete their tasks. The team leader must find a way for the team to work together while respecting everyone’s working preferences.

    4 Checks in with the team individually

    A good leader regularly checks in with each team member individually. The leader provides feedback on the team member’s performance and asks how they support the team member in their professional growth. What courses would this person like to take?

    They also see each person as an individual. By taking the time to talk with each person one-on-one, they will have a better idea about how to support that team member. That person may need time off to take their kids to appointments so they will need a more flexible schedule, for example. 

    5 Is never the smartest person in the room

    It can be tough on the ego if you aren’t the smartest person in the room. However, a leader should never be the smartest person in the room. 

    A leader can depend on a strong team with various areas of expertise to collaborate to get a job done. A leader can still be effective if they are always learning from their team or finding opportunities to learn together. A person who is always learning is always growing. 

    A person who knows that there is something they don’t know will always be humble and open-minded.

    These are all the traits of a good leader.

  • Let’s Un-invent the Handshake

    Let’s Un-invent the Handshake

    Daily writing prompt
    If you could un-invent something, what would it be?
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    If you could un-invent something, what would it be?

    It’s a competition and it’s awkward. Those are just two reasons I would un-invent this one thing that most people in the world consider as polite interaction.

    Let’s find ourselves a time machine and travel all the way back to ancient Greece, ancient Babylon, and ancient Rome, when handshaking was practiced. Then let’s remove all memory of the first handshake! It was a form of greeting, like tipping a hat, or showing that you weren’t carrying hidden weapons.

    Let’s un-invent the handshake! I’m more in favor of the courteous bow for many reasons. 

    1 Handshakes reveal a power imbalance

    Enough of men seizing my hand and squeezing so hard that my small fingers become crunched together in a triangular shape, reminiscent of the painful process of Chinese foot-binding. My sole impression of this person is pain. Do those men have no control over their bodies? Do they grab a sandwich with the same force as pulling a car?

    I also question the intention of men who immediately twist my wrist to the side like we’re arm wrestling, so that his hand is on top as he shakes my hand. Why the gestures of dominance? Handshakes were a form of greeting, not a moment to show who’s the boss.

    And on the other end of the spectrum, I feel so domineering when I shake a woman with a spaghetti grip: the kind of grip where her fingers are like limp string.

    2 Handshakes are awkward

    On more than one occasion, I’ve been sitting in an air-conditioned room, or just stepped in from the cold, and my hands are freezing. I can see the other person trying to look polite and calm (and not electrified) as I offer them my ice cube hand. 

    Let’s not forget about the times when an introduction takes place at an awkward moment. For example, when I wash my hands in the company kitchen and a coworker introduces me to a new employee before I can find the towel. Awkward! Damp-skin handshake after I do a quick pat down on my own clothes.

    Or the time you watch someone enter the room and touch door handles, sneeze and use a tissue, and grab a sticky muffin. Then the meeting starts, and handshakes are exchanged. If you’re germophobic, do you now use your handshake hand to grab a muffin from the table too?

    What do you think? Do you like the handshake as a form of greeting?

  • Let’s Normalize Privacy and Discretion

    Let’s Normalize Privacy and Discretion

    You don’t know me. But I know your name and I know where you live.

    Scary, right? Recently, I saw a video about protecting your personal details like your birthday, phone number, and address when businesses won’t do that for you. Scams are becoming more common, and businesses don’t need to make a criminal’s job easier for them.

    The Potential Harm of Sharing Details

    Sharing personal details can be harmful. Here are some examples: a doctor’s office or pharmacy that calls out your full name to everyone in the waiting room. Or the receptionist who asks to confirm your details by getting you to say your birthday and address so the whole room can hear it. 

    Another example is the bank teller who confirms the large amount of cash you’re withdrawing by saying it loud enough so the people behind know how much cash you’re about to carry out the door.

    A woman commented on the video that a staff member at a medical office said her full name out loud. After the appointment, a man she didn’t know called out her full name. He had been watching her earlier in the waiting room. He started to follow her out of the building. 

    Can We Protect Ourselves?

    We can be proactive, but the business needs to work with us. People have written their personal information on a piece of paper, only to have the receptionist read out all the details to confirm the details with the patient. 

    Another method is to show a driver’s license. Some people have tried this, and said they got unhappy looks from the employee who seemed to think the method was a lazy way to avoid speaking (and for not sharing personal information with everyone in the room).

    It’s not very discreet if you write down the amount you want to withdraw and the bank teller shouts out each one hundred dollar bill for everyone around you to hear. By the time you leave the bank, you will feel like a rob-me-I-have-cash target is marked on your back. 

    One suggestion is to check in with reception at the doctor’s office, the pharmacy, or whichever office you’re waiting at. They quietly take your name and then give you a number. When they call you, they call your number, not your full name. It’s not as personal or friendly, but it’s definitely more discreet. More offices should try this.

    Key Takeaways

    Businesses aren’t doing enough to protect our personal information. They like to confirm our identity by asking us to say our full name, address, or phone number in a room full of strangers. Our safety from scammers or creepy people is not safeguarded. We can use some techniques to protect ourselves, but the business needs to cooperate for those techniques to work.

    What do you think about how businesses protect your privacy? What methods have you tried?

  • 3 Ways to Increase Your Income If You’re Self-Employed

    3 Ways to Increase Your Income If You’re Self-Employed

    Repost

    One of the biggest challenges of being self-employed is doing everything yourself, from the actual work to accounting to marketing your business. Eventually, the self-employed want to become successful enough to get a steady workflow and make their ideal income.

    Some self-employed freelancers or business owners stop there, but others want to reach higher. Their reputation is established, and they are getting so much business that they cannot do all the work themselves. Here is an opportunity to double or triple their yearly income.

    Eventually, instead of being a one-person business running every department, they might hire employees. However, some business owners may want to avoid the headache of managing several people. They may wish to continue as an independent freelancer.

    Hiring employees isn’t the only option for increasing one’s income, although it is the first one that comes to mind. Here are three ways to increase your income if you’re self-employed and the pros and cons of each method.

    1 Hire employees

    You’ve always wanted to become your own boss. That’s why you started your own company and became self-employed. The next step is to scale up your company by hiring employees.

    Pros

    Depending on the nature and size of your business, you could step back and hire people with the right expertise to manage the company. You could hire an accountant and human resources person. Or you could continue with a hands-on role in the company.

    When you hire employees, you have resources dedicated to completing your work. You control their time and schedule because they signed a contract to work part-time or full-time, at specific hours of the day for you. If they want time off, they must let you know first.

    Having a dedicated team allows your business to scale. You can provide the same services you did before or add more services now that you have the cash flow and resources to hire experts to provide those services.

    Cons

    Once you hire employees, you are expected to provide a specific number of work hours for your employees each month. It becomes more crucial that your lead flow is steady to ensure you continue to operate at a profit.

    You’ll have more management details to look after. Whether you manage your business yourself or hire someone, you will deal with work contracts, tracking employee hours and pay, and other details related to human resources and taxes.

    2 Subcontract your work

    It’s a wonderful milestone in your career when you have so many clients that you can pick and choose which ones to keep by raising your rates or ending contracts. However, you may want to keep all your existing clients and add new ones instead of turning them away.

    One way to scale up your business is to work with subcontractors. For example, if you write articles for your clients, subcontract your work to writers who are building their portfolios and writing experience.

    Pros

    You can take on more clients and work assignments by working with subcontractors. They provide the same service as you so, in a way, you are duplicating yourself. You charge your clients your usual rate, keep a percentage as a management fee, and use the remainder to pay your subcontractors.

    If you enjoy management, you will coordinate what assignments need to be done, which subcontractor needs to complete them, and get the assignments to the client on time.

    Cons

    Most likely, your subcontractors are developing their writing experience or don’t have steady clients themselves. Part of your time is spent managing their work, from assigning to checking what they do. If you dislike management, you could hire someone to look after these details.

    Another challenge is if the subcontractor’s work isn’t up to standard, you’ll find a lot of your time is spent editing their work. However, when your subcontractor gains more experience over time, they will charge higher rates and want to work directly with their own clients.

    3 Collaborate with businesses that offer complementary services

    You are highly talented at what you do, but what if your clients need services related to what you do – but are beyond what you offer? For example, you offer writing services and you notice that your clients often want graphic design as well. You could become a jack of all trades. Or you could start an agency or hire employees.

    Another option is to collaborate with other freelancers or business owners who offer services that complement yours. Partner up with a graphic designer or website designer so your clients can find the services they need in “one place” instead of looking for them independently. When you refer a client to your collaboration partners, you get a commission based on a percentage or rate that you’ve both agreed upon.

    Pros

    If you’re very talented but building up your clientele as a freelancer, working with successful collaboration partners will help to get you clients. Their clients already trust them, so they extend that trust when they refer business to you.

    Whether you’re referring or receiving business, this partnership expands the services you can offer to your clients without learning those skills yourself. You also can handle learning how to manage a company or employees.

    Cons

    The relationship relies on a certain degree of trust. When you refer a client to a collaboration partner, the client’s trust in you is on the line. If that partner provides the quality of service your client expects, your reputation will also be protected.

    Another challenge is your partner’s availability. They may not be available when your client needs their service. When that happens, your client may work with another service provider so you won’t get a commission.

    Accounting is also a consideration. You’ll need to figure out how much commission (or referral fee) to give your partner for each contract and how to keep track of those amounts.

    Key Takeaways

    It’s a sign of success to face this decision: turn away clients or keep accepting new ones although you don’t have enough hours in the day to do the work. At this point, you can scale your business by hiring employees or subcontractors. Or, you can rely on your client’s trust in your reputation to recommend them to your collaborator partners. Any of these choices can increase your income and your ability to provide more to your clients.  

    Related posts:
    How to Negotiate and Secure a Retainer Fee with a Client
    Work-Life Balance: Enjoying Your Job

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