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A wonderful weekend to all!

A wonderful weekend to all! | Cultural Trendz | Scoop.it
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Hallelujah (original studio version) by Leonard Cohen

Hallelujah originally by Leonard Cohen "Now I've heard there was a secret chord That David played, and it pleased the Lord But you don't really care for musi...
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On a Leonard Cohen kick! I love this version. ~ V.B.

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Twitter IPO May Prove Morgan Stanley's Facebook Fallout

Twitter IPO May Prove Morgan Stanley's Facebook Fallout | Cultural Trendz | Scoop.it

NEW YORK (TheStreet) -- As the one-year anniversary of Facebook's (FB_) blockbuster initial public offering looms, lead underwriter Morgan Stanley (MS_) has yet to prove the botched offering has not hurt it's leading position in tech sector equity underwriting.

Twitter's unannounced but much anticipated initial public offering will prove whether or not Facebook's scandal-ridden offering, the third largest in U.S. history, has made a dent in the Morgan Stanley's ability to win the biggest deals coming out of Silicon Valley.

Morgan Stanley priced Facebook's May 18, 2012 IPO at $38 a share, in a deal that raised $16 billion for the social network and valued the company at over $100 billion.

Facebook has not traded above $38 a share since the IPO, and shares in the company remain about 30% below their listing price. Facebook opened Wednesday trading at $27.07, an increase of over 50% from share price lows below $18 in early September.

Shares in Morgan Stanley, by contrast, have gained over 70% to $24.70 since May 18.

Had Facebook's offering been priced correctly and with a manageable size for investors to handle, "Twitter would have come out by now," says Scott Sweet, a senior managing director at IPO Boutique.

"It would be wise for Twitter or another fledgling social network to choose another lead left book runner to lead their offering," Sweet says when discusing Morgan Stanley's management of the Facebook offering. "They made serious mistakes," he adds, while noting firms should still include Morgan Stanley on offerings because of their tech wherewithal.

Morgan Stanley, a powerhouse in tech sector IPO's after leading offerings for Google (GOOG_), Salesforce.com (CRM_) and LinkedIn (LNKD_), pulled a gigantic coup in winning Facebook's IPO.

The question is whether disappointed investors, lawsuits and regulatory settlements prove the Facebook deal to be a pyrrhic victory.

Morgan Stanley remains a force in tech sector equity underwriting. It won the lead mandate to underwrite Workday's (WDAY_) $732.55 million offering, the largest tech listing since Facebook.

According to Dealogic data, Morgan Stanley ended 2012 with the top market share in running global IPOs, bolstered by Facebook's offering. Overall, the firm earned nearly $1 billion in revenue from running equity underwriting, the data shows.

Still, signs of cracks may be showing.

Morgan Stanley won't be leading CDW's $500 million offering expected in 2013. The investment bank is also splitting lead work with Goldman Sachs (GS_) on Tableau Software's upcoming listing. It also isn't a lead underwriter of Marketo's IPO.

Both firms specialize in software services and the enterprise software market, a specialty of Morgan Stanley's. "Morgan owned that space last year," says Sweet.

In the first quarter of 2013, Morgan Stanley placed far behind competitors Goldman Sachs and a nascent Barclays (BCS_) in running U.S. based IPOs amid a sharp rise in listings of real estate investment trusts, healthcare businesses and carve outs from conglomerates as big as Pfizer (PFE_).

 

Source: http://www.thestreet.com/story/11924423/1/twitter-ipo-may-prove-morgan-stanleys-facebook-fallout.html

Vilma Bonilla's insight:

I can't believe it's been almost a year since the Facebook IPO and my work with Morgan Stanley. I flew to Manhattan New York, Miami Florida, San Diego California, Honolulu Hawaii, Seattle, Coeur d'Alene Idaho, Pennsylvania, and Anchorage Alaska for this awesome global investment bank client. It was a grand experience!

 

Here's what 2012 looked like for me in pics: https://www.facebook.com/media/set/?set=a.10151858736290078.883065.644515077&type=1&l=54c2b515e4

 

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I Will Be | Leona Lewis

Vimeo is the home for high-quality videos and the people who love them.
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Beautiful voice. Beautiful song.

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Developing intrinsic self-esteem and motivation | Life Coaching

Developing intrinsic self-esteem and motivation | Life Coaching | Cultural Trendz | Scoop.it

In  my last post I talked about recognizing small accomplishments, and celebrating your wins, however small.  This is one sure way to increase your motivation towards your goals.

How else can we internalize these wins to supercharge our self-esteem and motivation?
 
According to a Study published in American Psychologist in2000 by Richard Ryan and Edward Deci, there are three factors that help people be intrinsically proactive and engaged:
 
*  Relatedness– The need to belong, and feel connected to others
 
*  Competence– People are more likely to adopt activities that they, and relevant social groups value.
 
*  Autonomy– Crucial for people to internalize their wins, and feel motivated from within – Accepting it and Owning it by finding it valuable; interesting; and in line with goals (vision).
 
Relatedness
 
We need to surround ourselves with people who acknowledge our strengths and feelings, share our unique interests/goals, and support us in our pursuits.  When we provide these gifts to others it gives them something they can relate to, gives them the opportunity for self-directedness, and in turn increases their intrinsic motivation.
 
If a Parent, Teacher, Group Facilitator, Employer, etcetera uses threats; deadlines; directives; pressured evaluations; and imposed goals, this will decrease intrinsic motivation and lead to a decreased sense of well-being and empowerment.
 
Don’t you dare, for one more second, surround yourself with people who are not aware of the greatness that you are.  ~Jo Blackwell-Preston
     
Competence
     
Activities that include Novelty; Challenge; and Aesthetic Value (likeability) will increase competence.
     
Questions to ask are:
     
Why is this important to you?;
     
What does this mean to you?; and
     
How do the rules and “shoulds” relate to you? (in terms of values, goals, needs, interests/enjoyment; and other benefits).
     
When people can relate activities, tasks, and challenges to their core values and needs, interests/enjoyment, and other benefits unique to them, this will increase their motivation to be successful.  Basing outcomes on extrinsic rewards just isn’t inherently rewarding, and desire to get things done will be lacking.
     
In order to do this, you will need to (for yourself or others):

*  Have clear, detailed vision and goals (ie: where do you want to be in 5-10 years (or even one year from now?);
     
*  Identify strengths to leverage them:  Check out Strength Finder to identify your top strengths;
     
*  Identify your core values/needs, and what you love to do, then relate how rules and “shoulds” relate to these needs/values and things you love to do.  You can also use these core values in decision-making on your next steps to success!
     
Autonomy
     
What is important here is that people are doing things for their own reasons, and not just because they “should”, or that someone told them to; and that someone is telling them to.  This is closely related to competence, so doing the exercises above, or working with a Coach for clarity will be important.
     
You can also:
     
*  Write three good things that happened in your life/last week, and what you did to cause them to happen;
     
*  What makes you feel good about yourself and builds your self-esteem?  Turn these in to affirmations, and a reminder for positive sources of energy and inspiration when you need a boost;
     
*  Dove has a great exercise in their self-esteem workshop guide called The Promise Card.  What you do is write:  “From today …/…/…. I am going to make a difference to my life and to the lives of others by making this promise: ______________________________________”.  Then you write: “Here is how I will keep this promise: _________________________”.  Next write:  “I will ask __________________ to support me in keeping my promise”.  Make sure you tie this promise to your values; needs; interests; goals; and benefits to you, and Voila!  You have concrete action steps to get excited and motivated about!
     
*  Do things you want to do, despite any fears that are related to your vision, values, and goals.  Also do new things that expand your interests and sense of accomplishments.
     
*  Again, what are you going to do to give yourself credit for your “wins” along the way?  Celebrate!!…and not just the “small” accomplishments.
     
Peace and Love on your journey!

Vilma Bonilla's insight:

Self esteem is something that we all wrestle with from time to time. I believe self-esteem comes from knowing who you are and feeling good about it. The most challenging aspect of self-esteem is feeling "good" about who we are. Not just being able to talk about our challenges but really feeling comfortable and good living our truth.

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Tuxedo Junction | Style Files

Tuxedo Junction | Style Files | Cultural Trendz | Scoop.it
Look of the Day: Tuxedo Junction, Pull together a casual t-shirt and jeans combo by adding a tailored, double-breasted jacket.
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Visual Inspiration

Visual Inspiration | Cultural Trendz | Scoop.it
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One of my fave websites. ~ V.B.

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Persistence

Persistence | Cultural Trendz | Scoop.it
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Mozilo's Financial-Crisis Theory: Zombie Homeowners!

Mozilo's Financial-Crisis Theory: Zombie Homeowners! | Cultural Trendz | Scoop.it
Countrywide's Angelo Mozilo says zombie homeowners were to blame for the financial crisis -- not bad loans.
Vilma Bonilla's insight:
A most disturbing, "fairy-tale" account of mortgage defaults. ~ V.B. #MBIA #Countrywide #Defaults #BAC
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Travel Tips for Parents | AAA Exchange

Travel Tips for Parents | AAA Exchange | Cultural Trendz | Scoop.it

Planning a getaway with your kids?  Motor vehicle crashes are the leading cause of death and injury for all children. Protect your most precious cargo by following these easy travel tips from AAA:
Traveling by Car?

* Involve your children early on when planning a road trip, which will help keep their interest during the trip.  Show them your route on a map and let them help decide places to stop including landmarks, hotels, and restaurants.
* During your trip, give your children a map so they can see where you are and how far you have until you reach your destination.  This will help with the “are we there yet” question.
* Keep children interested and involved in your road trip with a ready selection of cards, maps, family games, sing-along CDs and activity books — especially ones with references to your destination. This will help keep them occupied and create more interaction among family members.
* As everyone knows, children can be a distraction in the car.  If there is another adult passenger, it is best to let them handle most of the interactions with the children.
* When choosing activities for children in vehicle it is important to remember that loose items in the car can be thrown or become missiles in the event of a crash or sudden stop.  Be sure to secure loose items including DVD players, laptops, iPads, purses, CDs, umbrellas, holiday gifts, etc. in either the trunk, in a console or under a cargo net.  Only provide children with soft toys and games to play with in the car.
* There are lots of helpful websites for parents with downloadable coloring pages, games, etc. such as www.SafeSeats4Kids.aaa.com.
* Get proper rest.  Set aside time to pack your clothes, load your vehicle and get a full night’s sleep for you and your family so you can all set out fresh and rested.  According to the AAA Foundation for Traffic Safety, drowsy drivers are a factor in nearly 17 percent of fatal crashes, with one in ten drivers admitting to falling asleep behind the wheel at least once this past year.
* Buckle up, and make sure all passengers are secured properly with safety belts and age-appropriate child safety seats before you head out on your trip.  According to the National Highway Traffic Safety Administration, 3 out of 4 safety seats are not installed correctly. Contact your local AAA club to have a licensed child passenger safety technician inspect your child’s safety seat for proper installation.
* If you are unsure about the child passenger safety laws in either your state or those that you will be travelling through, visit DrivingLaws.AAA.com.  It is important to remember that laws often provide the minimum protection; for maximum protection you should follow best practice recommendations.  To view these and learn other helpful tips, visit www.AAA.com/CarSeat.
* Try to do most of your traveling during daylight hours, when visibility is best.  If you find yourself driving into the glare of a rising or setting sun, consider taking a break until lighting conditions improve.
* When traveling by RV, make sure passengers buckle up in approved seating locations.
* Driving in the Winter? View these safety tips.

Traveling by Air?

* If flying, bring your car seats with you.  You will need to check the label of your car seat to see if it is certified for use on aircraft and has met the FAA inversion test criteria.  If it is approved for use on an aircraft, you can secure your child and help protect them from unexpected turbulence.
* Car and booster seats can be checked for free when traveling. Bringing your own car seats with you helps make sure you are familiar with how to use the seats and you know they are safe and clean to use.
* If you are not able to bring your car seat with you, you may rent one from a car rental agency.  Through a partnership with Hertz, AAA members receive the free us of one car seat with every rental.  For more information about using your car seat on an airplane, you can access the FAA’s website.
* Booster seats may not be used on an airplane because they require a lap/shoulder belt, so it is a good idea to check it when traveling.
* If traveling internationally with your children, be sure to bring all birth certificates, passports and documentation with you.  Single parents traveling with children should bring a letter signed by the other parent giving permission for travel listing dates, location and names of those in the travel party.  For more information on children traveling alone, view these tips (http://exchange.aaa.com/safety/child-safety/children%E2%80%99s-travel-tips/)

 

 

Vilma Bonilla's insight:

Travel tips from AAA for children traveling solo or with a single parent.

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Cultivating a deeply loving and fulfilling relationship | Relationship Keys

Cultivating a deeply loving and fulfilling relationship | Relationship Keys | Cultural Trendz | Scoop.it

Intimate personal relationships are no doubt among the most precious as well as one of the most puzzling of life's experiences. Perhaps the reason for this state of affairs is that many people approach relationships from a perspective that will never take them where they'd like to go.

Why? Because they start from the notion that everything would be so much better if only you would change. Not only that, but you should change in ways that I, your partner, prescribe.

Come on -- admit it! Isn't this something you do at least every now and then?

No doubt this is the greatest relationship myth in recorded history.

Well, if "only you would change, etc.," is a myth, how does anyone ever arrive at a truly happy ending, namely a deeply loving and fulfilling relationship?

Are you willing to consider the possibility that trying to fix or change your partner never works? After all, while you may have some degree of influence over your partner's choices, you have absolutely no control over the thoughts, beliefs, feelings and attitudes, which underlie their behavior.

Well then, how about working with the one person you can greatly influence? Right! That would be you!

Over the years, we've developed several keys that we have found work well in building a heart-to-heart relationship. We've tested these keys in our own relationship and we've seen them work for our students as well as couples in our private practice. There are 11 of them we're more than happy to share with you.

They are in no particular order and, they are not meant for you to share with your partner in the hope that they will change. They are meant to empower you to make a positive difference in your relationship. And, you just may find that as you experiment with the following keys, you may experience some lovely shifts.

1. Seek to become a really good heart-centered listener.

You may or may not have ever thought about this, but one of the deepest yearnings of people everywhere, is the longing to be truly heard. Surely, nowhere is this need more keenly experienced than in close personal relationships. One reason friendships often last longer than love affairs and marriages is that friends truly love being together and listening to each other.

It's not difficult to excel at listening once you understand, and are willing to practice, a few essentials. First, and most important, your attitude is what we refer to as seeing the loving essence. It's the essence of the Buddhist greeting Namaste, which essentially means the soul within me recognizes, acknowledges, respects and appreciates the soul within you. Set your intention to see the divine spark in your partner.

Next, listen with the ears of your heart. Listening such as this has as its intention truly hearing and understanding another. Heart-centered listening is not about giving advice. Let go of thinking that you need to solve or fix something for them. Deep listening in and of itself may, in fact, solve more than any advice you can ever give.

Bottom line: Intimacy is a natural by-product of heart-to-heart communication, for when a person feels heard, they feel loved.

2. Share gratitude and heartfelt appreciation.

There is nothing more affirming than regularly sharing with loved ones how much they matter to you and how precious they are. Express your appreciation for who they are and all they do.

The way we practice this skill is by sharing heartfelt appreciations each and every night before we go to sleep. Here's how we do it. Let's say Mary begins by saying, "What I appreciate about myself today is... and what I appreciate about you today is... " Then, it's my turn and I say, "What I appreciate about myself today is... and what I appreciate about you today is... " That's one round. We do three rounds nightly. No distractions allowed unless, of course, our kitty jumps up on the bed to participate.

3. Small kindnesses reap large dividends.

Have you ever considered the return on investment in small every day acts of kindness? Perhaps it's the flowers sent, the special coffee brought home, the thank you phone call. Why? They keep your heart open and are a tangible demonstration of your caring.

These days, more and more people are becoming aware of the importance of looking to see whether someone's words and actions match. Saying you care is one thing. Demonstrating your caring is another. Action is where to look for integrity and real value. By paying attention to the little things, you are building a relationship fortune that will pay dividends for years to come.

4. Keep your agreements.

Perhaps the single most important ingredient for a heart-to-heart relationship is the quality of trust. Over the years, we've seen more relationships come apart due to a breach of trust than any other single thing. How does this happen? Think about it. If someone says they will do something and then doesn't honor their word, what happens inside of you? Will you more or less likely to trust them to keep their word if and when there is a next time? Less -- of course!

Now, let's raise the stakes. It's one thing to trust someone to keep their agreement with you about something they have said they will do. It's a whole other thing to "entrust" your heart into someone's safe harbor only to discover that it's not so safe after all. When that happens, deep bonds of trust are broken and it can take years to reweave the fabric of the relationship -- if in fact you ever truly can.

Good grief! We just realized that we've come to the end of our allotted space and only covered four keys. That means there are seven remaining. Sorry about that.

Here's an idea. If you comment, we'll take that to mean you are finding value in this information and we'll continue with the remaining seven keys next week.

Blessings,

Ron and Mary

For the past 31 years, Drs. Ron and Mary Hulnick have been facilitating a two-year masters degree program in spiritual Psychology at the University of Santa Monica. They are both licensed therapists and authors of "Loyalty To Your Soul: The Heart of Spiritual Psychology." In January, they will be celebrating their 33rd wedding anniversary.

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They’d rather spend than save, but Gen Y is your future | Behavioral Finance Trends

They’d rather spend than save, but Gen Y is your future | Behavioral Finance Trends | Cultural Trendz | Scoop.it

They’ve been called egotistic, impatient and self-entitled -- and they have a notoriously bad reputation when it comes to saving -- but advisors want them.

While Generation Y controls a mere fraction of the country’s total net worth, its members are widely considered the future of financial planning.  As a result, advisors are paying particular attention these young adults.

“They may not have much now, but you’re going to see a transfer of wealth,” says Jim Dario, managing director of product management at TD Ameritrade Institutional. “It’s going to move from $2 trillion today to $28 trillion in eight years.”

To capture some of that growing wealth, advisors from around the country are beginning to reshape their practices to accommodate and attract this rising generation.  

BEHAVIORAL FINANCE

“When working with Gen Y clients specifically, you need to approach it from a financial standpoint and a behavioral one,” says Pirnack. “The financials give the numbers and tell the story of where a client needs to be, but you also need to build behaviors that are to their financial advantage.”

Pirnack divides his clients into two categories: “utilitarians,” who know how to use money in a productive way, and a group he calls “Pataguccis,”after the designer brands -- clients who are harder to work with because of their expensive spending habits.

“The utilitarians are easy, because they are better at storing away their money,” says Pirnack. “But for Pataguccis, retirement is not even on their minds, and they don’t respect money and tend to squander it.”

That’s actually a fairly common Gen Y attitude. A recent survey found that 31% of Gen Y doesn’t prioritize retirement savings. In fact, 41% of the 720 respondents between the age of 20 and 31 said their top reason for saving was for vacation and travel, according to LIMRA, a research, consulting and professional development organization.

But it’s not a helpful attitude for advisors trying to help young clients build wealth. “It’s not that they don’t care about their future,” says Pirnack. “For the Pataguccis, lifestyle is their No. 1 concern. They won’t mind spending their money on trips every few months, and are less inclined to save for the longer term.”

DEVELOPING SAVING HABITS

Pirnack says he nudges clients toward more responsible financial behavior by meticulously combing through their cash flow.

“If you have someone who loves drinking coffee every day, you don’t want to cut that out,” says Pirnack. “Try to figure out which areas they are spending on that they enjoy the least, and cut from there -- so that they can save for their daily lifestyle and the future.”

That means less focus on investment returns, and more on helping a client form good financial habits.

“The extra return I might get on their net assets is so low that it’s not worth it when compared to changing their behaviors,” says Pirnack. “If I change their behavior now and get them to save to spend, they are more likely to realize better real life returns on the behavioral change than the market will be able to earn for them.”

SELECTIVITY

Other firms don’t even bother with the big spenders, prescreening potential Gen Y clients for financial smarts. “We’re looking for good savers,” says Jamie Malone, financial strategist at Joyce Payne Partners in Richmond, Va. “It’s something that Gen Y needs to understand, so that we have a good fit on both sides.”

Joyce Payne builds its books with clients who tend to be financially prudent and are willing to develop a long-term view, its advisors say.

“Gen Y clients often don’t appreciate how long their time horizon is on the investment side,” says founder Michael Joyce. “Their risk tolerance is colored by what the market has done in the last several years.”

Joyce says he has hired a team of younger advisors to handle their Gen Y counterparts -- but he balks at the idea of changing the firm’s fundamental approach.

“We may make certain changes to serve our clientele well, but we’re not going to change our business based on where the money is,” Joyce says. “We’re making sure that we stick with our knitting, be good at what we do and segment the clients that we want within Gen Y.”

SPECIAL SERVICES

Other advisors take a separate tack, offering different kinds of service offerings to younger clients than to their older counterparts. Ted Jenkins, co-founder of oXYGen Financial in Alpharetta, Ga., believes advisors need to recognize that Gen Y clients have more information and less time than ever before, and adapt to it.

“The more things you can get done for clients, the more valuable you become to them,” he says. “They’re more demanding upfront because they have more information upfront, and so they expect a lot of value out of their time and money.”

For Jenkins, that means offering many targeted services -- from taxes and business solutions to insurance and personal lifestyle -- under one umbrella. The goal, as he puts it, is to act as a client’s “private CFO.”

In Dallas, United Capital managing director Brandon Moss takes a similar approach. Along with financial advice, advisors on his team can expect to provide a variety of concierge services -- from hiring nannies to helping a client arrange weekend plans. “It's a completely different paradigm for these younger clients -- the issues are different,” says Moss. “It's moving from job to job and even having multiple income streams. It's getting a nanny versus daycare. It's paying for private elementary school while still taking a really awesome family vacation.”

STYLE UPDATE

Clients pay for these services with either hourly fees or a monthly retainer, Moss says. United Capital’s Dallas office also tries to appeal to younger sensibilities with a nontraditional look and experience.

Moss’s team eschews mahogany desks for glass tables in a bright, colorful workplace that suggests a technology firm rather than a traditional planning practice. In meetings with advisors, clients are equipped with large monitors or touch-screen devices that let them follow their advisors’ online actions, as well as manipulate their plans themselves -- all in the name of making the planning process more interactive.

If the clients prefer, they can also opt to conduct meetings via Skype or gotomeeting.com, says Moss.

“They are used to working in fun, interactive and transparent environments -- why should our process be any different?” asks Moss. “They’re much more engaged and emotionally connected than before, and [the client relationship] becomes more than management of money.”

CHALLENGES & PAYOFFS

The big challenge for advisors, of course, is how to get a short-term payoff while building a long-term relationship, since most Gen Y clients don’t yet have the assets to generate a substantial AUM fee.

Some advisors are recalibrating the way they charge, introducing monthly retainer fees or a premium for extra services. And while advisors may be doing more, these younger clients are often willing to pay a higher monthly fee to cover the work, according to Moss and Jenkins.

Younger clients are also seen as champions of transparency and communication, and are quick to reward it -- good news for RIAs and other fee-based fiduciary advisors. “This generation is more fee-conscious, and is instantly turned off by advisors who act like product salesmen,” says Jenkins. “If you’re going to work in this market, you have to be an advisor that is product agnostic.”

Even so, however, margins may still be low -- and there is no certainty that advisors will be able to retain their clients during a transfer of wealth. “There is no guarantee clients will stick around 10 years down the road, but this business is not all about making money,” says Jenkins. “We’re building the industry the way it’s supposed to be.”

The greater risk, argue some advisors, is that Gen Y will continue to struggle with its financial planning needs. Only 17% of all Gen Y consumers are currently working with a financial professional, according to the LIMRA survey.

“If they cannot find an advisor that truly connects with them, they’ll most likely drift from firm to firm, and that is not a long-term solution,” says Moss. “They need people and firms that are going to be around for as long as they are and truly understand them and work the way they do.”

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"Working Remote" ~ Tips to make working from home work for you!

"Working Remote" ~ Tips to make working from home work for you! | Cultural Trendz | Scoop.it

Working from home can be a tricky balance to strike. Be sure you’re getting the best of both worlds when you work from home by checking out these tips.

Over 5.82 million Americans and counting are doing business from their abodes, and it’s not hard to see why. Today’s technology and interconnectivity have made working from home easier than ever before. The good news? You can work from anywhere at any time! The bad news, of course, is that you can work from anywhere at any time.

That freedom can lead to some major time management difficulties, and may end up leaving you overworked, stressed and worst of all, no time to enjoy the rest of life. Thankfully, there are a number of ways to make working from home work for you.

Here are four work from home tips, complete with input from fellow business owners, to help you keep your work under control:

1. Get ready in the morning

Although waking up and getting dressed may not be your favorite activity (looking at you, fellow night owls), getting off to a good start is going to set the tone for how productive your day will be. Avoid the trap of waking up, rolling over and thinking you’ll respond to one or two emails before you grab breakfast. Because when it comes to work, one thing tends to lead to another, and it can be hard to break the flow. Start down this path and before you know it, lunch time has passed, your to-do list is longer than you’d like and you still haven’t showered.

Instead, approach the beginning of your day like you have an office job to commute to. Put on an outfit you look good in, eat a relaxing, healthy breakfast as @nimaolfati suggested, and whatever you do, leave work out of it. If you’re just getting started with working from home, you can even hop into your car and take a short drive to get your brain in gear. Chris Hamlett, owner of Green Planet Golf Balls, even suggests driving to the next town over to get coffee to make the morning “commute” more concrete.

Bonus tip: Think of waking up like starting your car. If you started your car three or four times before you drove to work, your starter would be out in no time.  Likewise, waking up is a process that takes a lot of energy, so don’t let multiple attempts deplete all of your morning reserves. Try to wake up only once.

2. Set regular hours and stick to them

One the biggest perks of working from home is that you don’t necessarily have to stick to that 8 a.m. to 5 p.m. corporate schedule. However, that doesn’t mean that you don’t have to commit to any kind of schedule at all. People are still creatures of habit, and when it comes to getting the most done, we benefit from having set times to work and set times to relax. Otherwise, if unchecked, one or the other tends to take over. So as our Facebook fan Taylor Hennings suggested, get your schedule-making on.

Here are some additional tips when it comes to setting your schedule:

* Build your schedule around yourself: Kids? Then work during school hours. Tend to stay up late? Then start your day at 10:00 a.m. Aim to build a schedule that really works for you.
* Let others know what hours you’re in business: That way, they’ll know when they can get in contact without impeding on your personal life.
* Don’t go back to work when your time is up: As hard as it can be to start working, it can be even harder to stop.  If you get a brilliant idea, don’t go back to work. Just save it for later.
* Give yourself breaks: Just like you take little breaks at the office, allow yourself some regroup time. @vicki_charron suggests standing up every so often for a quick break, maybe even taking a brisk walk on a treadmill.

3. Physically separate work from home

When working from home, it can be very tempting to do your work wherever you happen to be, whether kitchen table, couch or bed. Instead, fight that temptation and set up some separate space to be your home office. It doesn’t have to be a whole room necessarily, or even a large space. For example, @Super_Six_Two suggests simply having a separate work desk from your home desk. What it does need, though, is to feel like and provide all the things a workspace would. That means having all your resources in easy reach, having some degree of privacy and, as clear cloud VOICE suggested, turning off the TV.

Also be sure to make this work and home separation clear to anyone who may be in your work space during your business hours. Set boundaries for your roommates, your kids, your pets and whoever else is home so they can further enforce that separation of work life and home life.

If it’s particularly difficult to get into the work mindset, feel free to leave the house in search of greener work pastures. Whether it’s a local library or coffee shop, moving to a place where other people are hard at work alongside you can help get your mind in the right place.

 4. Make time for people

One of the less-than-glorious aspects of working from home is the possibility of feeling isolated.  Often times, working from home is a very individual endeavor, and it can be quite the adjustment from someone used to occasional water cooler chatter. Not only does loneliness feel crummy, but it’s actually proven to reduce productivity as well. So combat this by actively making time to talk to others, whether they’re friends, family or fellow business owners.

Here are some tips on staying social when working from home:

 

* Schedule lunch meetings: Meet a coworker or someone you’re working with over lunch somewhere. Not only will you be getting out, but you’ll have some social interaction too.

* Utilize social sites: Find like-minded entrepreneurs and workers-from-home at sites like Meetup.com. 

* Take a course: Find something you’re interested in and get to learning with some classmates. Also consider attending a conference, teaching your own course, or even giving a talk.
* Chat with people via IM: Unlike a phone call, which ends the second one of the people hang up, chats can be kept open and responded to throughout the day. This can mimic the kind of casual interaction you’d have at the office.

Working from home can be very rewarding with the right balance of work and home life. By maintaining your schedule and staying disciplined, you can get the best of both worlds. (Plus, help the environment while you’re at it.) And, as always, if you have any other tips, feel free to share them in the box below and help out your fellow workers-from-home.

Happy selling!
-Gracelyn Tan, Volusion

Vilma Bonilla's insight:

"Be sure you're getting the best of both worlds when you work from home by checking out these work from home tips." Working remote is a challange that requires lots of discipline to achieve balance. ~ V.B.

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Raise Your Daughters to Be Leaders: 6 Tips

Raise Your Daughters to Be Leaders: 6 Tips | Cultural Trendz | Scoop.it

It's an exciting time for women. New Hampshire is the first state in the nation to send an entirely female congressional delegation to Washington. And by the way, the governor is a woman, too. Marissa Mayer, though controversial, is making her mark on the corporate world and showing that women can hang with the big boys.


More and more women are excelling in leadership positions--in government and non-profits, in start-ups and public corporations, in sports and entertainment.

Even so, the number of male leaders still dwarfs female leaders. My husband recently sent me a survey via Twitter (yes, this is how we sometimes communicate) asking "Why Aren't There More Women CEOs?" The results of the survey:

    Institutional barriers (42%)
    Family is a bigger priority (26%)
    Lack of workplace flexibility (15%)
    Less willing to take risks (10%)
    Lack of female role models (7%)

My answer is all of the above, plus something else. Something much bigger. To be a leader, whether it's in a company, in politics, in the PTA, or on the soccer field, you need "leadership traits." You need to know how to command a presence, to have good judgment, and to make great decisions fast. You need to show strength and confidence and stand by your convictions. Always. You need to have thick skin, and not be swayed by naysayers or tough competition. Most of all, you need to know how to motivate and inspire people to follow you.

Of course many of these traits are inherent, but most can also be cultivated. For boys, this is a way of life since birth. Boys are taught to tough it out, to wipe away the tears, to be the fastest and strongest kid out there. And though times are certainly changing, girls are often still babied more.

I'm not saying we should treat our girls like boys. I love to coddle my daughters and help them with their pink dresses. But I also strive to encourage leadership traits in them to prepare them to thrive in a world where the ceilings have more and more skylights.

Try these six tips to help foster leadership traits in your daughters:

1. Remind her constantly that she is capable of anything.

When I was two, my grandfather announced that I would be president someday. My dad agreed and started reminding me of it from then on. This was in the 70s when a female president was a ridiculous thought. My parents really did believe that I could do that, and much more. And they told me so regularly. I can't even remember thinking that girls couldn't do anything boys could, because I was never told any differently.

2. Encourage her to play with boys.

As a child I idolized my older brother. I had my girlfriends and dolls to play with but I also loved to play football (yes tackle) with my brother and his friends. By interacting with boys the way they play, I learned many traits that have served me well in the largely male upper echelons of the corporate world. Your daughter may not be into tackle football, but go ahead and set up playdates for her with the boys.

3. Foster her independence.

My daughter has been in Montessori school since 18 months and I am still amazed at the things she learns to do on her own. I wish I could take credit for her decision making and self-directed ways. But even as I celebrate her independence, when I watch her struggle to dress herself or brush her own teeth or cut her own food, sometimes I want to step in and do it for her. Resist the urge! Encouraging independence and confidence now will serve your daughters later when the tasks get much more intense.

4. Encourage her to play sports.

This is an obvious one. Everyone knows how much a child can learn from competing on a team to win... and sometimes losing. But many girls just aren't into sports. If that's your daughter, find an activity that fosters teamwork, collaboration, initiative, and leadership, whether it's Girl Scouts, clubs, or something else. More important, find a way to get your daughter into something--anything--competitive. My 9-year-old book-loving, brainy niece likes dance class OK, but hasn't taken to sports. When the family got a foosball table, she was transformed. Soccer and basketball aren't her thing, but she is damn good on that table. Who knew? She can beat her brother at something physical for once, and the once shy, quiet girl is now beating her chest. She even calls my husband from thousands of miles away taunting him that she is the reigning foosball champion of the household, and the "master of all things glorious."

5. Highlight female role models.

Who are the 7 percent of survey responders who think there are a lack of female role models out there? Come on people, they are everywhere! They are in the New Hampshire government, the stores we visit, and down the street on the volunteer committee.  They are in the books we read, the news we watch, and they are even in history. Ever read about Elizabeth I? So highlight them to your girls. And explicitly make the point that there are badass women out there that they can aspire to emulate.

6. Be a role model yourself.

Of course the best way to teach a trait is by example. If you're a mom, then act like a leader. Be strong, be confident, show good judgment, and inspire your children to follow you instead of demanding it. If you're a dad, then show your respect for women.  Treat your wife and daughters, and neighbors and friends as equals. Let the decisions come from all of you and make it clear that there are no ceilings in your household, just as in life.

Vilma Bonilla's insight:

"What's it take to raise strong, confident women who will build the Apples, Facebooks, and Amazons of the future? One marketing exec (and mom) weighs in."

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Voice of the Graduate | Report: Higher Education

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"Everyone knows education is the path to individual and national prosperity in an era of global competition. Yet US educational attainment, once the envy of the world, has been flagging in recent years—and concerns about the value and efficacy of higher education in particular are making headlines and finding a place on both political parties’ reform agendas. While as recently as 1995 the United States was one of the world leaders in college-graduation rates, the country has since slipped to 12th among industrialized nations.

McKinsey partnered with Chegg Inc. to conduct a survey that gauges the attitudes of more than 4,900 recent graduates on a range of issues. The mix included attendees of four-year and two-year private and public colleges, as well as vocational and for-profit institutions. The survey primarily focused on students who graduated between 2009 and 2012, though some students still working toward their degrees were surveyed as well.

This report will review eight key findings from the research on student attitudes, place these findings in context, and discuss implications. In each case, the report also suggests questions raised by those findings for educators and other stakeholders to consider. The report concludes by sketching the beginnings of an agenda for addressing the concerns that graduates raise." ~ McKinsey on Society

 

Click on the title above to view the report as a PDF file.

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Ode to Miami Vice | Phil Collins

Cinematography/Editing/Director: J. Michael Lockhart/AmericanDSLR Short scene inspired by Miami Vice (1984) with a touch of Beverly Hills. Filmed and edited on…
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"In the Air Tonight"

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Do you communicate authentically as a leader?

Do you communicate authentically as a leader? | Cultural Trendz | Scoop.it

“I LOVE ice cream.”   “No, you don’t,” Mrs. McGowen, my 5th grade English teacher insisted.  “You LIKE ice cream. You LOVE people.”

Okay, if she insisted.  I’d tone down the tenor for my essays, but I was determined to remain the expert on my feelings.  So how do you know when someone else presents their true self to you?

Test 1:  Passion

Passion gets out the vote.  In any political campaign, you hear cries from the public, telling the handlers, “Let Mitt be Mitt.”  “Leave Palin alone.”  Let Clinton write his own speech.”   They tend to use exuberant language:  “I love this.”  “I hate that.”  “I’d give a million dollars if I could…”  “I’d never on your life date a woman who ….”  “You wouldn’t in a million years catch me making an investment in something like ….” Whatever the situation or topic, authentic leaders feel it strongly and their language reflects it.  They tackle life with all they have—heart, mind, soul.

Here’s Steve Jobs on his passion:  “I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life. [...] Sometimes life hits you in the head with a brick. Don’t lose faith. I’m convinced that the only thing that kept me going was that I loved what I did.”  (Walter Isaacson’s biography of Steve Jobs)

Test 2:  Comfort With Who They Are

Second, real leaders feel comfortable with who they are.  They acknowledge their past, their upbringing—the good and the not-so-good—their values, their core beliefs.  They talk about their vulnerabilities, their ambitions, their goals, their hard work.  Consider Oprah’s rise to prominence as she has shared her painful past.  Consider George Bush’s admission and reflections on his wasted years of heavy drinking.  Bill Clinton often talks about his upbringing in poverty–by a divorced mom who could barely get by from paycheck to paycheck.   In essence, they present a true image of themselves.  What you see is what you get—truly.

Test 3: Willingness to Admit Mistakes

Third, real leaders feel comfortable in saying, “I’ve failed.”  It’s not that they enjoy the feeling of defeat. But they’ve analyzed it, learned from it, and are quite willing to prevent others from the same fate.  The pioneering spirit in them translates everything into a learning opportunity.  Abraham Lincoln chalked up quite a record of defeats before he reached the White House and became one of the greatest leaders America has ever known.

Jack Welch puts it this way: “I’ve learned that mistakes can often be as good a teacher as success.”

Warren Buffett’s legendary annual letters to his Berkshire Hathaway shareholders tell the tales of his biggest investing mistakes.  In 2008, he bought a large stake in the stock of Conoco Phillips as a play on future energy prices—but he bought in a price far too high, resulting in a multibillion dollar loss to Berkshire. Buffett admitted he was “dead wrong.”  He goes on to say, “When investing, pessimism is your friend, euphoria the enemy.”

In another bad investment back in l989, Buffett bought preferred stock in U.S. Air because he was attracted by its high revenue growth achieved up to that point. But the investment quickly went bad when U.S. Air failed to achieve enough revenues to pay the dividends due on this stock. Buffet pointed out in his 2007 letter to Berkshire shareholders that sometimes businesses look good in terms of revenue growth but require large capital investments all along the way to ensure their growth. He was frank about the mistake:  “Investors have poured money into a bottomless pit, attracted by growth, when they should have been repelled by it.”

Authentic, confident leaders feel deeply about their mistakes—admit them, and learn from them.

How do you score?  How do leaders in your organization measure up?.

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Spring 2013's Most Daring Trends | InStyle.com

Spring 2013's Most Daring Trends | InStyle.com | Cultural Trendz | Scoop.it

How do you make a statement this spring? By taking a cue from Kerry, Blake, and more stars and trying out the most daring fashion trends the season has to offer. From bright leather to mixed prints, we'll show you how to take your wardrobe to the next level.

 

Vilma Bonilla's insight:

Spring is here, finally and InStyle is an amazing source for inspiration! Click on the image or title above to view the original post and slide show pics.

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Always!

Always! | Cultural Trendz | Scoop.it
Vilma Bonilla's insight:

Life is a quite dear reflection. Self development is an ongoing project. Get to work! ♥ ~ V.B.

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♥ Note to Self ♥

♥ Note to Self ♥ | Cultural Trendz | Scoop.it
Vilma Bonilla's insight:

Mondays are seldom happy days, however, find your happy place inside youself. It is the only place true motivation dwells. As simple as a fave song or warm cup of coffee. Whatever it is that makes you happy, short term and long term, do it! ~ V.B.

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Mommy Lessons: Best Advice

Mommy Lessons: Best Advice | Cultural Trendz | Scoop.it
In honor of Mother’s Day, Donna Karan, Lubov Azria, Lela Rose, Pamella Roland, Rachel Roy, Kelly Wearstler, Rachel Zoe and Rebecca Minkoff share the best advice a parent can give their child.

 

Donna Karan: Make time for love. “The best advice a mother can give to her child is that love is about time−the time you spend with others, and time you spend taking care of yourself. You need to find the balance and do both,” says Donna Karan, pictured with her daughter Gabby on her wedding day in 2002. (For her special day, Gabby wore a short dress with an added long tulle skirt, made by her mother, of course!)

Lubov Azria: Live your dreams. “Each of my daughters has a unique journey they are embarking on, and I support them wholeheartedly. I always advise them with what I tell myself every day: Work hard, stay focused on your vision, and follow your dreams. Ralph Waldo Emerson once said, ‘Nothing great was ever achieved without enthusiasm,’” says Azria, Chief Creative Officer of BCBGMAXAZRIAGROUP, which includes BCBG and Herve Leger.

This busy business woman is mother to 6 children with husband Max Azria. Above, Lubov (pictured second from left) enjoys some girl time on Malibu Beach with her daughters Anaïs, 16, Agnès, 14, Marine, 21, and Chloé, 18.

Lela Rose: Conquer with kindness. Designer Lela Rose keeps her motherly advice simple and sweet: “Be nice, be nice, be nice.”

The New York-based Texan transplant is pictured with her two children, Grey, 11, and Rosey, 6, and their two Yorkshire terriers, Stitch and Bobbin.

Rachel Roy: You can make a difference. “The best advice I give my girls, which my mother instilled in me, is the importance of giving back to those in need,” shares Rachel Roy, pictured with her two daughters, Tallulah Ruth, 5, and Ava, 13.

Pamella Roland: Easy does it. “As my children have grown, my best advice to mothers of young children would be to not sweat the small stuff−you let go and let your children learn by making their mistakes, and you have to pick your battles,” says Pamella Roland.

During New York Fashion Week, you can always spot her three children, Cole, Sydney and Cassandra, cheering from the front row.

Rebecca Minkoff: Search for excellence. “Find your PASSION and give 100%. It may or may not be easy to find; maybe the search will be painful and long, but you will find it at some point. And the feeling of satisfaction knowing you have given 100% brings tremendous contentment,” says Rebecca Minkoff, photographed with son Luca Shai, who will turn 2 in September.

Rachel Zoe: Do the right thing. “Always be kind, always have manners and always be grateful. Never be greedy, never be jealous and never be cruel,” says Rachel Zoe on the words of wisdom she instills in her son Skyler, 2.

Kelly Wearstler: Be a go-getter. “The best advice I can give my boys is the same advice my mother instilled in me: the only person who can make something happen for you is YOU. Be compassionate, be self-reliant, and love what you do,” shares Kelly Wearstler with her boys Elliott, 9, and Oliver, 10.

On Mother’s Day, remember the women who gave—and lived out—the best life advice for you.

Vilma Bonilla's insight:

Click on the image or title to view original post containing some very sweet, intimate mommy and me pics.

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Mom: Unapologetic and Strong

Mom: Unapologetic and Strong | Cultural Trendz | Scoop.it

When I was pregnant with my second child, my sweet small dude, Cooper…. I made a promise to myself… not to my husband, not to my best friend, not to my daughter and not to you, or you, or you… but to me… I was really going to make a physical effort to take care of my body, to control my eating and to be strong.

With my first pregnancy, I had been under the mistaken impression that a magical door had opened, allowing me to explore new foods to excess, to give in to the physical exhaustion that accompanied those nine months to the point of sitting still more than I moved and assuming that the baby weight would ‘fall right off’ when my daughter arrived.  It didn’t happen.

The changes I witnessed in my body prompted me to decide things would be different next time.  Enter Cooper.  I ate well.  I exercised.  I gained half the weight in my second pregnancy that I did in my first.  But let me be clear, this was not a gift: this was the result of conscious effort.  I worked hard. I felt healthy. I was protecting my baby.  I was taking care of my body.

But more often than not, someone would say, ‘Must be nice to be so tiny.”, “I can’t believe you are even 7 months.” , “Are you sure you are eating enough to take care of that baby?”, “Oh my gosh, I looked like you when I was 3 months!”, “You must just have good genes”.

And I would find myself apologizing.

“I’m sorry…. I just wanted it to be different this time.”

“I’m sorry…. I’ve just been….  I just was…. I just did…  ”

I was actually apologizing for doing something right and good for me, for my baby.

This was a pattern for me. This apologizing wasn’t reserved for this instance.

Unfortunately, it would take nearly six years for me to recognize that I had a habit of diminishing my personal and professional power each and every day with two little words:

I’m Sorry.

A few months after Cooper was born, I had plans to go out with a few girlfriends.  I couldn’t escape a nagging feeling that something was very wrong. But you simply can’t cancel on friends because you ‘have a feeling’, right? I chose to be the designated driver instead, and spent the night on hyper-alert…certain that something was amiss. I apologized constantly for my edginess.  I dropped off my last girlfriend…sitting in her driveway for upwards of 5 minutes, contemplating my route home.  Calming my nerves, I started the car and began to drive.

I noticed everything.  The speed limit.  The street signs.  The movie theater times.

I even saw her coming.  I just couldn’t get out of her way.

I was awake as I spun through the intersection.  As I rolled down the embankment.  As I hung from my seat belt waiting for the Fire Department to get me out of the car.

I walked away.  Apologizing for being out late.  For nearly leaving my children motherless.  For ignoring ‘that feeling’.

But I resolved I would never again do work that didn’t make me better and stronger and didn’t give me the opportunity to teach my children to be better and stronger.

This was the beginning of the journey to where I am now.

It was while I was on book tour last Fall for Mom, Incorporated, talking to rooms full of women that I had two epiphanies:

Women, like me, say I’m sorry ALL. THE. TIME.

    I’m so sorry I missed your call….

    I’m sorry I can’t join you for lunch…

    I’m sorry, I didn’t have time…

    I’m sorry…. I wish I could have been there…

    I’m sorry I’m just now getting back to you….

    I’m sorry I can only talk for a few minutes…

    I’m sorry, we’ve decided that is a family night…

    I’m sorry I’m late….

    Oh….I’m sorry, were you reaching for that?

    I’m so sorry I was in the wrong place at the wrong time….

Start counting.  Today.  I’d venture you will catch yourself saying I’m sorry 10, 15, 20+ times every day.  For little things.  For silly things.  For things that don’t require an apology.

And every time you do it, you rip a small piece of your personal power away.
For heaven’s sake…. I realized that my own voicemail said, “Hi, it’s Danielle, I’m sorry I can’t take your call right now….”

At that moment, I made a decision.  I’m NOT SORRY.

I’m NOT sorry I wasn’t sitting in front of my phone waiting for your call.

I’m NOT sorry I prioritized spending time with my family instead of answering certain emails.

I’m NOT sorry I decided that project wasn’t right for me.

I’m NOT sorry I didn’t return your email within 45 minutes.

I’m NOT sorry I juggle my family life and my work life – I think it makes me stronger.

I’m NOT sorry for the way I choose to parent my children.

I’m NOT sorry I was home with my children for the first few years of their lives.

I’m NOT sorry I work from home.

I’m NOT sorry I travel for work.

And I’m definitely NOT sorry for any success I’m achieving by working hard and making sacrifices.

Make a few small changes in the way you respond to people as you begin your journey of being Unapologetically Strong:

Smile when you respond.

If you don’t want to volunteer at your child’s school for the Fall Festival, don’t say – “Oh, I’m so sorry I can’t do that….”, smile and respond, “Thank you for asking, I’m going to enjoy the event with my children and volunteer in the classroom in the Spring instead.”

Change your words, change your tone:

If an email has escaped notice for a week: Instead of…. “I’m so sorry I’m just now getting back to you….” type, “Thank you so much for your email… I’m excited about the opportunity for us to work together/connect/talk about this project….”  The entire tone of your note changes.

I’ve stopped apologizing for who I am, for the work I do, for the time I choose to spend on my work or with my family, for the way I love and parent my children, or for the positive outlook I have on life.  I’m not sorry for the way my worldview is evolving as I get older.  I’m not sorry that I am getting older or that I have to work harder to take care of myself.  And I’m also not sorry that I sometimes give myself a break.

As I have removed the apologies I DON’T mean from my vocabulary, the ones I need to own have become that much more valuable.  I am constantly asking myself, “Am I TRULY sorry?”.  If the answer is, ‘yes’, I can look someone in the eye and embrace those words and what they mean.  That is important.

I’m grateful that I am surrounded by people who understand the ‘Unapologetically Strong’ in me.  And I’m proud to be joining the Degree Women campaign encouraging other women to celebrate ‘Unapologetically Strong’ as well.  You may or may not know that I used to be a TV reporter, so I can easily admit to being a huge fan of Sports Broadcaster Erin Andrews who has teamed up with Degree Women to head up the campaign.  You can see her story below...

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Love this campaign for women!

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Stay positive.

Stay positive. | Cultural Trendz | Scoop.it
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How to Make Better Decisions Every Day

How to Make Better Decisions Every Day | Cultural Trendz | Scoop.it

What was your last important decision? Was it a good one? How did you come to the decision? Will that same process work again? Will it work for an even more difficult decision?

These are the kinds of questions Chip and Dan Heath (Switch, Made to Stick) take on in their new book Decisive: How to Make Better Decisions in Life and Work. They expose what’s wrong with the decision-making process, reveal why our brains are hardwired to make "foolish" decisions and offer different tips and techniques for making better decisions.
Why Do We Make Bad Decisions?

The first problem when it comes to the decision-making process is that most of us who try to make careful decisions put all our efforts into analyzing the options, instead of improving how we arrive at decisions. The typical “pros vs. cons” approach, the “either or” approach and the “whether or not” approach distort the full range of options available and lead to poor decisions.

Another contributor to poor decision-making is that we base our decision on what we want to be true instead of what is true. We select evidence based on preexisting beliefs, and in doing so we miss many available options because we're only looking at the option right in front of us. All this, according to the authors, can lead us to make the wrong decision.

To help make their case about how and why so many decisions are 'bad," the authors share some rather entertaining data:

* Over 60,000 tattoos were reversed in the U.S. in 2009.
* Business and government leaders are less likely to consider multiple options than teenagers.
* Merger activity is heating up again, but 80 percent of mergers fail.
* 44 percent of lawyers wouldn’t recommend their career choice to a young person.
* Green Bay Quarterback Brett Favre retired, then unretired, then retired.
* A simple thought experiment helped Andy Grove decide that Intel should get out of the memory chip business and invest everything in microprocessors: “If we got kicked out and the board brought in a new CEO, what do you think he would do?” (A similar thought experiment makes many personal dilemmas suddenly transparent, because it removes the emotional element.)
* Former GM CEO Alfred Sloan disallowed any decision that was reached with 100 percent consensus.

The authors then go on to show how we can overcome our cognitive biases by using techniques mastered by the best decision makers, including judges, politicians, designers, branding experts and military and business leaders.

How to Make the Right Decision

To improve rational decision-making ability we need to do four things:
1. Widen our options
2. Reality-test our assumptions
3. Attain some distance
4. Prepare to be wrong

So, how do we go about applying these four elements into our decision making? In the book, the authors introduce a variety of decision-making strategies and techniques that can help. Here are a few worth trying:

* The Vanishing Options Test asks you to imagine that your current options have all disappeared, and answer the question: What else would you do?
* Multitracking is a technique where you consider more than one option simultaneously.
* A Premortem lets you consider how a decision might fail, and analyze what you would do now to minimize the harm.
* In the Tripwires method, you set a trigger in advance to jolt you out of your routine and alert you that it’s time to reconsider a decision or make a new one.
* With Zoom In, Zoom Out your goal is to gather the best information, and in doing so you get both a close-up and an outside view of the situation.
* With Laddering Up you find a novel alternative by scaling a ladder that takes you from local analogies (what’s working right now?) to distant (who else has solved our problem?).
* The Best Friend Test hinges on the fact that many people find it easier to make a choice when they imagine themselves advising their best friend who is in the same situation.

None of these tests and tips are new. Most of them are tried-and-true techniques used by strategy firms and design studios. That doesn't make them any less valuable and useful, and having them all in one place is rather handy.

In the end, Decisive makes decision-making simple—or at least simpler.

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The Future of Credit Cards | #FinServ Trends

The Future of Credit Cards | #FinServ Trends | Cultural Trendz | Scoop.it

At a recent conference devoted to travel and credit card rewards, executives from Chase, Barclaycard, US Bank, Capital One and American Express were on hand to share their views on the future of credit cards — and there was a broad consensus on where the industry is going in the next few years.

Here are four of the biggest credit card trends on the horizon that emerged from the discussion:

1. Banks are leveraging Big Data. When you think about it, credit card issuers don’t just collect money, they also collect massive amounts of data. They know who you are, how much money you make, and where you spend it. The next step is for them to provide offers that are directly relevant to customers. Think of the way that your grocery store uses a loyalty program to track your spending and offer you coupons at checkout, but then imagine that model extended across multiple merchants. That is what is implied by Big Data.

[Related Article: The First Thing to Do Before Applying for a Credit Card]

2. Card issuers will capitalize on mobile devices. Closely tied to their push to capitalize on their data, banks see a future where they can present these offers to their customers in real time. By combining location information and spending data, banks can present customers offers that they can act on when away from their computers. The question then becomes, will cardholders value these offers, or find them to be a nuisance? Banks are betting that the more relevant they are, the less of an issue they will be.

Banks also hope to offer cardholders not just deals and offers, but valuable information to help them manage their spending. In a follow-up interview I had with Shane Holdaway, Managing Vice President of US Cards for Capital One, he described a future where his bank would offer information to consumers about how they spend, and how to spend smarter. In his vision, your credit card becomes a budgeting tool rather than just a method of payment and finance.

3. Banks will offer more products to the unbanked and underbanked. Do you know any adult who does not have a bank account? The FDIC Household Survey concluded that 8.2% of U.S. households are unbanked (meaning they don’t have a checking or savings account), and more than 20% are underbanked (meaning they have a checking or savings account, but use non-bank means of credit, like payday loans) — and those numbers are growing. Sonali Chakravorti, Vice President of Membership Benefits for American Express, stated that in partnering with Walmart on the BlueBird prepaid card, American Express was looking at the next generation of customers who don’t even want a bank account. While it remains to be seen, the next generation might find bank accounts as relevant as land lines, compact discs, and print publications.

4. Expect less junk mail, but more social media marketing.  Matthew Massaua, Senior Director US Card for Barclaycard, made the point that credit card marketing is changing to meet the times. According to Massaua, social media marketing of credit cards is growing while direct mail marketing is starting to decline. In fact, Barclaycard has lead the way in integrating social media with its credit card products by introducing its innovative Ring card .

David Gold, General Manger of Partnerships for Chase Card Services, highlighted the importance of new media to the credit card industry. In fact, he noted that he wakes up every day worried about what will be written online about his products by bloggers who focus on how many cents they can get out of of each point. Others on the panel also admitted following blogs and other online outlets closely. So when you read a site like this, you can be sure that the banks are listening, too.

The industry will undergo an evolution, not a revolution

Change is coming, but it won’t be overwhelming. When asked about the pace of change in the industry during the next two years, four of the five panelists characterized the industry as going through more of an evolution than a revolution. Only Bob Daly, Senior Vice President of US Bank, would hint at some major change his bank could introduce within the next two years. Whether he was trying to out-psych his competitors, or he has something extraordinary up his sleeve, only time will tell!

It was interesting, and educational, to hear credit card industry executives share their thoughts on the future. By understanding where credit cards are going, you won’t be surprised when you get there.

Vilma Bonilla's insight:

At a recent conference devoted to travel and credit card rewards, here's what emerged on what the future will bring to credit cards.

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