5 Mind-Altering Wealth Strategies for Successful Business Owners

I’m an entrepreneur and just so happen to be in the business of providing other entrepreneurs with financial advice. But I don’t typically offer up the usual status quo advice that tells you to do things that aren’t always in alignment with growing your business.

My views originate from my experiences and at times are contrarian to what’s being recommended by the usual tax preparer and other financial advisers, because I am in the trenches running a business just like you. I know what it takes to grow a business, make payroll, deal with IRS notices and manage cash flow.

The truth is that being an entrepreneur can be isolating at times as a result of being wrapped up in the day-to-day of running your business. When you are hyper-focused on your business, it is difficult to also be an expert at managing the profits of the company.  You may be great at making money, but once it’s made, what do you do with it?

Thinking differently about your company and how you will use it to build wealth is the key to true financial success.

In this article, I’ll outline five ways you can shift your mindset about money to transform how you define and operate your business and approach your financial decisions. It will help you identify what you really want to achieve: A Self-Managing Company®, a term coined by  Dan Sullivan of Strategic Coach.  

Mind Shift No. 1: Understand that Retirement Savings Plans Don’t ‘Lower’ Your Tax Bill

As a business owner, you are probably time-starved and used to making fast decisions. And you may be tempted to make fast decisions at tax time, especially when your tax preparer suggests that tax-deferred investments are the answer to lower your tax bill and save some money for retirement.  Easy enough, right?

This is what I like to call a half-truth. It’s true that you’ll get the deduction for that year’s taxes. But the other half of the story uncovers the problem with the use of SEP IRAs, 401(k)s and other tax-deferred options to “lower” your tax bill. The reality is that you are taking money from your business where you have some level of control and redirecting those dollars into the stock market where you have absolutely no control.  The money is tied up until you are 59½ years old and face potentially higher tax liabilities than you previously owed with no access to your cash if it is needed for growing or sustaining your business.

When you own a business, the half-truths you hear from many finance professionals and the mainstream media can at times negatively impact your ability to grow your business and protect your interests.  I have found there are other, more productive ways to build wealth outside of your business, beyond the base-level concepts of investing or putting money in an IRA or 401(k).

Mind Shift No. 2: View Your Company Not as Your Job, but as a Tool for Building Your Wealth

If you run a healthy business, you have a long-term strategy. You know what the end-goal is. You think about the business as a whole, rather than focusing on simply the day-to-day tasks.

We’ve all heard the old adage: Work on your business, not in your business. That’s because if you’re working in your business all the time, you’ve only created a job for yourself.  The goal is to build systems and develop people to slowly work yourself out of the role you have and allow the business to run on its own.  The sooner you shift your mindset to this way of thinking, the sooner you can begin to experience the results.

First, carve out the time in your day to think about your business. Many business owners I talk to don’t do this, because they are buried in the work. Take time to talk to your future self about what you want your life to look like in the future.  What would your future self say to you about the decisions and choices you are making?  It helps to outline your thinking time, keep a journal of your discoveries, meditate to de-stress, and use the time to reflect on what you are trying to accomplish in the business.

Next, think about your business as a piece of your financial plan. How much time and capital are you investing into the business, and what are you getting out of it?  What is your ROI?  I’ve found that a business can offer the biggest opportunity to build wealth, and in many cases — depending on your results — it can offer more than what you might get from investing in the market.

Finally, think with the end in mind. At the end of the day, what are you trying to get out of your company? To build wealth through your business, you must identify what will build its value.

Building value revolves around creating a self-managing company, one that runs without you and has a strategy to sustain itself into the future. This allows you to sell it for maximum value, or even create a passive income stream without actually having to work in the business.

Shifting your mindset is important, because you probably didn’t start your business that way. Many business owners don’t, and that’s OK while you’re getting things up and running. But it’s important to remember that what got you started will not get you to the next level and will not build the wealth needed to successfully exit the business.

Mind Shift No. 3: Master Your Cash Flow

I tend to bust a lot of myths when it comes to financial matters, and one of them has to do with cash flow. This is especially important to understand as an entrepreneur. Your cash flow is not there to simply pay your bills. Yes, you must pay your bills of course, but there is more to it than simply making payroll.

Cash flow is a tool to help you build wealth and the value of your company.  Healthy cash flow allows for you to control your money, and there are strategies you can explore to help you maximize it.

I recently spoke with a partner of a business who was earning a W-2 salary of $400,000 per year. In working with his CPA, we were able to rework his partnership agreement, removing him as an employee and adding him as a consultant of his own LLC.  While this simple strategy reduced his tax liability by $20,000, implementing this strategy was about more than just lowering taxes.  This was about cash flow – everything is always about cash flow.  By making this little tweak, he increased his cash flow by $1,666 per month.

I’m not a CPA and don’t provide tax advice, but I ask a lot of questions and propose many scenarios for the tax professionals to consider – scenarios that can increase cash flow for business owners. Increasing and optimizing your cash flow should be a top priority for your business.

Mind Shift No. 4: Be Your Own Bank

Companies with cash are able to do many things without having to rely on a bank or other source of funding. In essence, they can be their own bank. Think about it. When you have cash, you can use it to work on your wealth-building strategy. You could buy a company, invest in equipment, hire more people (maybe even a replacement for yourself who can run the company while you collect passive income), buy property, or take advantage of any other opportunity that may come your way.

But there is another way you can be your own bank. Maybe you’ve heard of the concept of “BUILD Banking™,” a cash flow strategy using a specially designed life insurance contract. It’s a strategy that I use personally and with many of my clients who want to have greater control of their cash flow. It frees them from dependence on banks for capital infusions and avoids government red tape when they need to access their money.

For more information about BUILD Banking™, visit www.buildbanking.com.

This strategy enables business owners to grow assets tax-free and have access to those funds whenever they’re needed. In essence, you’re accessing cash when it is needed while having uninterrupted compounding growth for your future.

Mind Shift No. 5: Understand Your Legal Exposures and Protect Yourself

You likely have some form, or forms, of insurance in place for your business. And you may believe that these policies have you covered. Well, they may, and they may not. The coverage you need goes far beyond liability, even extending into punitive damages.

It’s important to work with an insurance professional who specializes in business coverage to ensure that you have the right type of policies and the proper level of protection for your specific business.

There are also certain types of insurance policies (including the BUILD Banking strategy I’ve described above) that can serve a strategic purpose for your business. It’s common, and valuable, for business owners to have a life insurance contract as part of their succession plan, acting as a funding mechanism for the beneficiary to purchase the deceased owner’s share of the business.

Again, you will want to have a collaborating team of insurance professionals who have expertise in their vertical and who understand your business, your goals and what you are trying to accomplish. It’s also a good idea to include your CPA, attorney and financial planner in on those discussions.

These five financial planning tips and mindset shifts will help you use your business as a tool to start building wealth (or build greater wealth). They may be things you’ve never thought about, or things you’ve considered but haven’t been able to implement.  Putting these ideas to work can get you on the path to true business success.

Results may vary. Any descriptions involving life insurance policies and their use as an alternative form of financing or risk management techniques are provided for illustration purposes only, will not apply in all situations, may not be fully indicative of any present or future investments, and may be changed at the discretion of the insurance carrier, General Partner and/or Manager and are not intended to reflect guarantees on securities performance. Benefits and guarantees are based on the claims paying ability of the insurance company.
The terms BUILD Banking™, private banking alternatives or specially designed life insurance contracts (SDLIC) are not meant to insinuate that the issuer is creating a real bank for its clients or communicating that life insurance companies are the same as traditional banking institutions.
This material is educational in nature and should not be deemed as a solicitation of any specific product or service. BUILD Banking™ is offered by Skrobonja Insurance Services LLC only and is not offered by Kalos Capital Inc. nor Kalos Management.
BUILD Banking™ is a DBA of Skrobonja Insurance Services LLC.  Skrobonja Insurance Services LLC does not provide tax or legal advice. The opinions and views expressed here are for informational purposes only. Please consult with your tax and/or legal adviser for such guidance.

Founder & President, Skrobonja Financial Group LLC

Brian Skrobonja is an author, blogger, podcaster and speaker. He is the founder of St. Louis Missouri-based wealth management firm Skrobonja Financial Group LLC. His goal is to help his audience discover the root of their beliefs about money and challenge them to think differently to reach their goals. Brian is the author of three books, the Common Sense podcast and blog. In 2017 and 2019 Brian received the award for Best Wealth Manager and in 2018 the Future 50 St. Louis Small Business.

Source: kiplinger.com

6 Garage Sale Setup Tips to Best Display Your Items & Make More Money

Picture this: You’re cruising down the street one day, and you spot two garage sales on the same block. The first has racks of clothes, bins of books and records, and a few high-value items prominently displayed near the curb. The second features jumbled, messy piles and boxes scattered across the yard.

Which one would you stop at?

Presentation is crucial to a successful yard sale. You can and should advertise your sale, but you also want to encourage passers-by to stop and look at your wares. If your sale doesn’t make a good first impression, most will just keep going.

No matter how much good stuff your sale has, it won’t bring in shoppers who can’t see it easily. People passing on foot only have your sale in their sights for a couple of minutes at most, and drivers on the street see it for as little as a couple of seconds.

To draw them in, you must show off your sale items so effectively their first glimpse convinces them to take a closer look.

Garage Sale Tips for Presentation

A garage sale has two purposes. It’s a way to declutter your home and bring in some extra cash. And the best way to achieve both goals is to attract as many customers as possible.

When you’re trying to draw in shoppers, pricing isn’t the most crucial factor. Yes, yard sale shoppers love bargains, but if your garage sale items don’t look appealing, no one will even stop to look at the price tags.

So before you even get out the price stickers, you need to spend some time thinking about how to set up your yard sale display to catch the eye.

1. Clean Your Items

Suppose you’re shopping yard sales looking for outdoor furniture. You come across a set that looks sturdy, but the chair arms and backs are coated in grime and their cushions are mildewy. Would you buy them or keep looking for a set in better condition?

That illustrates how important cleaning is. Something that’s otherwise in perfectly good shape becomes a complete turn-off for buyers if it’s covered in dirt. Even if you haven’t used something in years, it can come out of storage sporting a thick coat of dust that makes buyers pass it over.

So before you even think about how to display pieces, give each of them a quick touch-up with a dusting cloth. If anything is especially dirty, take the time to scrub it down with soap and water.

Some garage sale items need more specific cleaning treatment. Run clothes through the washer and dryer to remove dirt and odors, and give shoes a quick polish to remove scuff marks. If you have purses or other bags to sell, clean out dirt and debris from their interiors (and while you’re at it, make sure there’s nothing of value left inside).

2. Show Off the Good Stuff

Shoppers get their first glimpse of your garage sale from either the street or the sidewalk. If all they can see in that first look is a bunch of cheap junk, many will keep moving instead of stopping to browse.

There may be some real gems hidden toward the back of your yard or garage, but many prospective buyers will never see them.

If you want to hold a successful garage sale that attracts as many buyers as possible, put your most appealing merchandise front and center. In my experience, the best yard sale items for attracting buyers include:

  • Antiques of any kind — furniture, houseware, jewelry
  • Appliances
  • Board games
  • Clothing and accessories in good condition, such as shoes and purses
  • Electronics like TVs and stereos
  • Furniture
  • Musical instruments
  • Sporting equipment, including bicycles and camping gear
  • Tools, including garden tools like lawn mowers

In general, large items have more curb appeal than small ones. For one thing, they’re easier to see from the street. Also, little things like cheap toys and kitchen utensils aren’t that expensive to buy new, so they don’t offer the potential for a major bargain.

Another helpful strategy is to display merchandise likely to appeal to men, such as golf clubs or power tools, as close to the road as possible. In my experience, women are more likely to stop at a garage sale than men, so you don’t need to go to as much effort to reel them in.

By displaying things that typically appeal to them most prominently, you’ll attract men as well as women to your sale.

3. Group Like Items Together

Once you’ve drawn customers to your sale, you want to keep them there as long as possible. It might seem like the way to do that is to place everything randomly so shoppers looking for specific finds have to hunt through every table at the sale to discover them. But that strategy is likely to backfire.

As a shopper, I always find it frustrating when a yard sale has no clear layout. If I’m looking for something in particular, such as clothing or books, I want to see all the clothing or books available in one place. If they’re scattered across all the tables at the sale, I’m likely to get frustrated and walk away.

To make shopping easy for your buyers, group similar items together. Make one table for clothing, one for books, one for housewares, and one for toys, for example. That way, people can go directly to the table that interests them and start browsing.

If you have a lot of one type of product, sort it into narrower categories, such as children’s books and adult books.

To make it easier for yourself, sort your merchandise into boxes by category before your sale. On the day of the sale, you can simply bring each box to its own table and start laying everything out.

4. Keep Everything Visible

The easiest way for you to sort goods into categories is to leave them in their boxes. But that isn’t easy for your buyers. No one wants to bend over a box pulling out one baby onesie after another until they find the size and color they’re after.

Haphazard piles of stuff aren’t appealing either. I’ve walked away from more than one rummage sale because all the clothes were in massive, unsorted piles on the tables. Digging through them all to find the few outfits in my size would have taken hours with no guarantee I’d find anything I liked.

To make your sale appealing, lay your wares out in ways that make them easy to see at a glance. There are multiple ways to display different types of merchandise, depending on how much of it you have and what condition it’s in.

Clothing

The best way to display clothing is on hangers on a portable clothes rack. That keeps garments off the ground and makes them easy to sort through. If you don’t have a clothing rack, look for a makeshift alternative, such as an old ladder or a sturdy clothesline strung between two trees.

If there’s no way to hang clothes, the next best option is to arrange them in neatly folded piles on a table. That’s also a suitable way to display clothes for babies and small children.

But note your neatly folded and stacked garments will invariably get unfolded and strewn about as the day goes on, so you have to tidy up your piles from time to time.

Whichever method you choose, try sorting clothes by size, type, and gender. That makes it still easier for buyers to find what they want. A nice added perk is to display garments like coats with their extra buttons if you still have them.

Accessories

There’s nothing more frustrating than finding one shoe in your size and then having to hunt around for the other before you can try them on. You can significantly increase your shoe sales by taking the time to line pairs up together, either on a table or on a sheet or blanket on the ground.

You can display purses and bags on tables, on the ground, or neatly lined up in boxes. Or if you have a large tree handy, you can make an eye-catching display by hanging handbags from its limbs.

Jewelry is a high-value commodity, so it’s worth making an extra effort to display it well.

Wrap a piece of cardboard in fabric, then stick in pins or small nails to hang necklaces, earrings, and bracelets. You can pin brooches directly to the fabric. If you have coordinating pieces, such as necklace-and-earring sets, display them together.

Books & Recordings

Books are easiest to see if they’re arranged side by side with their spines facing out so people can view the titles at a glance.

The easiest way to accomplish that is to line them up on a bookcase or shelf. But don’t use a bookcase you’re also planning to sell because if someone buys it, you’ll have to remove all the books in a hurry and find a new location for them.

You can also display books by lining them up in a box with their spines facing up. Or if you have a smaller selection of books, you can fan them out on a table faceup so shoppers can see their covers.

Whatever you do, don’t stack books in boxes or pile them on tables so shoppers have to lift each one out of the way to see what’s below it. For all but the most dedicated book buyers, that’s simply too much work to be worth it.

These same display ideas work well for audio or video recordings, including CDs, DVDs, video game cartridges, records, and cassettes. (Yes, there are still people who have held onto their old boomboxes and are willing to buy tapes if they’re cheap enough.) Make the titles visible, and don’t force your buyers to dig.

Furniture & Home Goods

When displaying furniture at a yard sale, consider what type of buyer it would appeal to.

Place sturdy pieces suitable for families near the street, where they’ll draw buyers in. Older, worn-out pieces might appeal to students furnishing a dorm room or DIY fans looking for pieces to make over. Display these pieces farther back but with prominent labels indicating their low prices.

Antique furniture creates a bit of a dilemma. On one hand, it’s an appealing item that can attract shoppers. However, if you place a lightweight piece too close to the street, an ambitious thief could snatch it when you turn your back. Large and heavy furnishings can go in the front, but it’s best to place smaller ones close to the checkout where you can keep an eye on them.

For smaller home decor, consider maximizing its visual appeal by creating little vignettes.

For instance, you can toss a bedspread over a couch to show off its pattern and add a couple of matching throw pillows. To sell a set of dishes, lay out one whole place setting on a table, complete with a napkin and flatware, and keep the rest stowed in a box.

Finally, if you’re selling old electronics, make sure you have all their parts — remotes, cords, and the manual if you have it — bundled along with the primary equipment. You can wrap them up and stash them in a clear plastic bag taped to the side.

Customers will appreciate being able to see at a glance that the equipment has all the necessary parts. And if they want to test the device to make sure it works, all the pieces they need are available. Consider running an extension cord to the house for testing purposes or at least having one handy for shoppers to use.

5. Make Space for Everything

Ideally, most of the goods at your yard sale should be on tables, so shoppers don’t have to bend down to look at them. If you don’t have enough tables to display your wares, borrow from neighbors or friends.

Also, look for ways to create more “table” space from scratch. For instance, you can lay plywood over a pair of sawhorses, milk crates, or even cardboard boxes. You can also use any naturally elevated surfaces in your yard, such as porch steps or retaining walls.

If you’ve tried all these tricks and still don’t have enough table space for everything, prioritize. Reserve your table space for high-value merchandise you really want buyers to see and delicate pieces that could break if left on the ground. Everything else can go on blankets or tarps.

Set out comfortable chairs for yourself and any helpers so you don’t have to spend the whole day on your feet. Set them near a small table or another surface you can use for making change and bagging purchases.

6. Promote Your Sale

No matter how good your yard sale looks, it won’t attract customers if no one comes close enough to see it. That’s why even the best yard sale needs adequate signage.

Before putting up signs, check to see if your town has any regulations about them.

For instance, it might regulate how many signs you can put up, how large they can be, what materials you can use, and where you can display them. It may also have rules about how long before the sale you can put signs up and how long you have after the sale to take them down.

While you’re at it, check all the other local regulations.

Some towns require you to get a garage sale permit, and others limit you to a certain number of sales per year. Putting up signs puts you on the local authorities’ radar, so make sure you’re not running afoul of any rules. Otherwise, the fines could eat into if not exceed your profits.

Once you have any necessary permits and are clear about the signage rules, it’s time to set about making them.

Good yard sale signs are large, clear, and easy to read. Include the address as well as an arrow to point passing motorists in the right direction. If your town allows it, hang signs at all the busiest intersections near your house. From there, leave a trail of signs all the way to your house, pointing shoppers the right way at every turn.

Ensure your yard sale signs include the date and times of your sale as well. I always find it frustrating to see a sign that says, “garage sale,” with an address and no date because I never know if the sale is coming up, currently going on, or already over.

Listing the date and taking down signs once the sale is over ensures shoppers don’t show up on the wrong day.

You can advertise your sale online as well. Sites like Garage Sale Finder exist specifically for this purpose. Many local Craigslist groups have a section for garage sale advertising as well. Other places to put the word out include social media sites like Facebook and Nextdoor.


Final Word

A well-organized garage sale takes more work to set up than a haphazard one.

But putting in this extra effort maximizes the chances your sale will succeed once it gets going. Shoppers are more likely to stop for an attractive sale, and those who stop are more likely to stick around long enough to find something they want to buy.

By taking the time to display your goods well and price them right, you can host a great yard sale instead of just an OK one. And that helps you turn more of your clutter into cash.

Source: moneycrashers.com

Micro Wedding Is Sign of the Times

Micro weddings have become ultrachic in the time of coronavirus. These smaller weddings allow you and your future spouse to exchange your vows, enter into a legal relationship and get access to each other’s health insurance all while living through these socially-distanced times.

What Are Micro Weddings?

A micro wedding is generally a wedding with less than 50 guests. In the before times, micro weddings were often a cost-cutting measure as the most effective way to cut your budget is to cut your guest list.

When you cut your guest list, you’re cutting down on the amount of space you’ll need at the venue. Simultaneously, you’re cutting down on the costs of food, alcohol and favors.

During the time of Coronavirus, micro weddings are helpful to your health as well as your wallet. You may even want or be required to cut your guest list further than the normal standard of 50 guests.

Planning a Micro Wedding

When you’re planning a micro wedding the first thing you’ll want to start with is your guest list. You may only want your closest friends and family there for your big day. Or, in this time of pandemic, you may only want it to be the two of you and the officiant. In some states, you can even eliminate the officiant via a self-uniting marriage.

Whether you have a handful of guests or just the couple at your micro wedding, venues and vendors across the wedding industry have many ways to help you share your big day while saving money.

Get Creative with the Venue

Because you have a smaller guest list, your venue doesn’t need to be nearly as large. Your favorite art gallery might be renting out space, or you might be able to book a private room at your favorite restaurant. If a venue had a minimum guest count prior to 2020, those minimums have likely been reduced or eliminated altogether.

If you are absolutely set on having a larger wedding despite the pandemic, you could book your local park or another outdoor venue to make the event safer. Be sure to remind your guests that they still need to wear masks and observe the 6-foot rule even though the event will be taking place outside.

Newly weds get married as hot air balloons are released all around them on top of a mountain.
Getty Images

Destination Weddings

You may have a bit of pent up wanderlust, dreaming of a destination wedding. Destination weddings are usually micro weddings. Because you or your guests will have to pay for extra expenses like hotel rooms and travel costs, the number of people who can attend usually becomes inherently smaller.

There are certainly some Caribbean destinations that are allowing Americans to visit during the pandemic, and some of the resorts are offering great deals. But despite more and more Americans getting vaccinated, many people are still avoiding air travel. Be prepared for some guests to decline your invitation if air travel is involved.

Instead of air travel, you can either commit to a long road trip through locales where the infection rate is low, or pick a venue within convenient driving distance. Traveling in your car with other members of your bubble is a far safer way to get from point A to point B.

Remember that even if you’re fully vaccinated, there is still potential for you to spread the virus to your guests, your hosts and anyone else you may come into contact with. The more the virus spreads, the more likely it is to harm the unvaccinated, even if those unvaccinated people aren’t in your immediate circle.

Allowing the virus to spread like this also provides it with increased opportunities to mutate into vaccine-resistant variants, which could force us all into lockdown again until boosters for new strains are available.

Invest in Quality Videography

Maybe you never dreamt of having a micro wedding. You might even be upset that you can’t have a huge party with your family and friends.

One way to help soften the blow of having a micro wedding during the pandemic is to share your big day with quality videography. You can either livestream your ceremony or hire a videographer to document the celebration.

Because business has been slower and videography has new importance during the pandemic, some venues and videographers are offering discounts on these services.

Curbside Tastings

The mere fact that you’re feeding less people at your micro wedding means you can spend less on your wedding cake and any catering your micro wedding may require.

During the pandemic, some bakeries, restaurants and caterers are offering curbside tastings to ensure everyone’s safety.

Drive-By Wedding Visits

Maybe in normal times, your sister would have been your matron of honor, but she has a disabled child who is high-risk. Even though you are both vaccinated, her child is not. She can’t risk exposing herself to even asymptomatic cases of the virus as she could unknowingly pass them on to her child.

You still want her to be a part of your big day. If she lives within driving distance, you could schedule a drive-by visit prior to the micro wedding ceremony. Either she and hers could drive by your place, where you’d be on display in your gown or tux, or you could drive by her place, stepping just outside the car to show her how good you look while keeping a masked distance of well over six feet.

It’s not the same. It’s still incredibly sad that she can’t be there, and you might even want to consider postponing your wedding until she can attend. But if the show must go on, these drive-by visits can still provide you both with a special memory from your special day.

Include Remote Readings

If you’re having a Zoom micro wedding, even those who cannot attend can participate in your ceremony. In the case of your sister, she may perform a reading or conduct a prayer through the screen. You can customize your ceremony any way you see fit, using your creativity and the power of the internet to make your micro wedding all that much bigger.

Micro Wedding Ideas for a Smaller Guest List

When planning a micro wedding, you may find that you have a bit of a budget surplus because of these cut costs. Both the budget surplus and the fact that you’ll have far fewer guests at your wedding allow you to get creative and a little more personal with the finer details of micro wedding planning.

Hand sanitizer and face masks are set out for guests to use during a wedding reception.
Getty Images

Wedding Favors

The following are a few favor ideas you might consider for your micro wedding, depending on your budget and your wedding’s theme. The dollar signs are meant to show you the relative expense but the exact dollar amount of each is based on your own budget.

  • Masks. ($-$$) Masks can be custom-printed with names and wedding date, nodding to the extraordinary times we’re all living in while giving your guests a functional gift they’ll be able to use in their day-to-day lives. You may even want to make these favors available to guests upon arrival rather than at the end of the celebration. That way if anyone forgot to bring their mask, they’ll literally be covered.
  • Hand sanitizer. ($) You can find plenty of beautiful yet affordable options for custom-printed hand sanitizer right now. Instead of the “Germ-X” label, your label will include your names, the wedding date and perhaps some adorable quote about love. This is another good favor to make available to your guests upon arrival.
  • Fauci-approved smooches. ($) Want to DIY your micro wedding favors? One cute idea is to get a glass jar, fill it with Hershey Kisses, and affix a label that reads “Social Distance Kisses.”
  • Flip flops. ($-$$) If you plan on driving to the beach for your destination wedding, flip flops can make a great wedding favor. If guests forget about the sand and wear fancy shoes to your celebration, they’ll appreciate the option to switch to beach-friendly attire upon arrival. Because your guest count is small, you can ask each guest for their shoe size beforehand so everyone is accurately accounted for. You can also go the extra mile and order custom flip flops with your names and wedding date printed on them.
  • Custom luggage tags. ($$$) This option is a little more expensive, but if you find yourself with extra padding in your wedding budget you may decide they’re worth it. Luggage tags can serve as a token of hope that life will go back to normal soon and we won’t have to stress as heavily should we have to get on a plane and traipse through the airport.

Guest Book

Similarly, because micro weddings have so few people in attendance, you can use creative ideas for a non-traditional guest book. Your guest book can then be integrated in your day-to-day married life.

Here are some ideas that can be customized to any micro wedding budget:

  • Picture frame. ($-$$$) When you get your wedding pictures back from the photographer, there’s likely to be one photo that just blows you away. Before the wedding, purchase a frame where you can display that much-anticipated picture. Buy a frame with a removable mat. Then, you can have your guests sign the mat in lieu of a guestbook on your wedding day. Their well-wishes can be displayed in your home alongside your favorite wedding photo.
  • Ornaments. ($-$$$) Have you ever known someone who has a tradition of picking up a Christmas ornament on every vacation? Their tree then reminds them of all the journeys they’ve enjoyed. You can do a similar thing for your wedding day — especially if you have a small guest list. Instead of a guestbook, provide ornaments and paint pens coordinated with your wedding colors. Each guest will sign one. Every year, you can display your wedding-day memories on your tree, remembering those who were there with you.
  • Tiles or stepping stones. ($-$$$) Are you and your soon-to-be spouse remodeling? Or doing some landscaping work? If so, you can integrate your wedding day into your design plans. For instance, if you’re doing interior repairs and plan to lay tile, you can put out some tiles at your micro wedding in lieu of a guest book. Each guest would then sign one, and you could integrate your guest book into your home. If you’re doing outside work, you could have each guest sign a wet stepping stone, even adding their handprint if they want to. You can then integrate these stepping stones into your garden.

Stationary

Things are a lot more hopeful right now with somewhat improved vaccine distribution, but there are still so many unknowns. As you plan your micro wedding during uncertain times, you might want to familiarize yourself with some Corona-era additions to the wedding stationary world:

  • Change-the-date announcements. Change-the-date cards are now incredibly common for wedding postponements. Just like wedding invitations, these cards range from cute and witty all the way to incredibly formal. You can look for a template that matches the tone of your wedding day.
  • Virtual wedding invitations. Maybe you’re doing your part by giving the virus as few opportunities to mutate as possible. That’s why you’re doing a Zoom micro wedding with just the two of you plus your officiant. Paper invitations to your wedding are still a beautiful touch, but the most convenient way to invite your guests to livestream the event is through a virtual invitation. With virtual invitations, your guests will have access to a clickable link where they can participate in your ceremony live.
  • Elopement announcements. Whether you elope or simply choose not to announce to anyone but your micro wedding guests that you’re getting married, after-the-fact wedding announcements are a good way to include family and friends. Prior to the pandemic, these were commonly used for elopements, so you can find plenty of templates online even if they predate 2020. But you can also find pandemic-specific announcements whether you eloped or did, indeed, plan and have a few guests. Ideally, this announcement will contain a link to a wedding website where friends and family can view either pictures or video of your celebration after the fact.

It can be hard to break it to family or friends that they are either not invited or are uninvited to your wedding. But you are not the only one going through this situation. The silver lining is that because so many couples have faced the same circumstances, there are plenty of templates online and professionals who have worded the same sentiment for numerous clients. You don’t have to stress about the wording on your own.

Brynne Conroy is a contributor to The Penny Hoarder. She blogs at Femme Frugality.

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Source: thepennyhoarder.com

Use Storytelling to Get Ahead at Work

Data, facts, and figures may convince people you have the right answer. But sometimes the real challenge is creating a connection that inspires someone to collaborate with or support you. Telling a great story at the right moment may be exactly the tool you need. Learn how to choose your moment and craft that winning story.

By

Rachel Cooke
May 3, 2021

Airbnb that I’ve always loved. When they first launched their home-renting service in 2008, they struggled to attract customers. In 2013, the co-founders decided what they needed was a story. They wanted to do more than win minds with logic, facts, and figures; they also wanted to win hearts. They needed prospective renters and property owners to feel something that would compel them to engage with the service.

Airbnb wanted to do more than win minds with logic, facts, and figures; they also wanted to win hearts.

The company shifted its focus from highlighting facts—like the practicality of renting rooms or homes instead of hotels—to telling stories about the power of belonging.

“Belong anywhere” became the official tagline of Airbnb and led to the creation of their new logo and brand story. Their focus now was on helping people to feel at home wherever they were. Customers began sharing their own stories of belonging. Suddenly, business was booming.

Telling great stories—investing in winning hearts as well as minds—isn’t just for brands. As this Inc. article claims, storytelling is one of the most critical business skills we all need today:

Stories help us understand the world, find our place in it, and even convince others to buy into our ideas and products. … Your stories make you relatable. They show people why something is important rather than telling them.

The two questions we all need to answer are:

  1. How do you choose the right moment for a story?
  2. How do you craft and deliver that story for impact? 

When do you tell a story?

As this Harvard Business Review piece explains:

The art of persuading by winning hearts is about connecting people emotionally to your idea or position.

Sometimes we do want to lead with rational logic and facts. Need to make a data-driven decision on which marketing campaign delivered the best results? Hard data is your friend. But in other moments when your objective is different, a story—a way to connect with someone’s emotions—may be just the thing.

Here, HBR continues, are some of the moments best suited to heart versus mind-winning:

  • Introducing a new idea and trying to pique interest
  • Gaining support for a decision that’s already been made
  • Raising the bar on performance or commitment
  • Leading a team that is struggling with discord or conflict
  • Aligning with creative colleagues, like those in design or marketing

The common thread pulling through these examples is the need for support, allyship, or buy-in. When you need someone to want to do the thing, that’s when a story comes in handy.

When you need someone to want to do the thing, that’s when a story comes in handy.

So I’d like you to take a look at your calendar. What’s upcoming for you? Do you have a pitch meeting with a client? Are you grabbing virtual coffee with a mentor? Will you need support or collaboration from a colleague in a different department?

Have your facts ready. But find a spot for telling a great story. And then follow these steps to craft one.

How do you tell a story?

1. Be a story collector

Telling great stories begins with having great stories on hand. 

When I’m talking to a new client, I have to prove myself. They want to see my track record of success, and I have the stats and metrics to show it. But I also need them to want to work with me. I’m not a vendor, I’m a partner, and I need to build trust and connection. 

So in early meetings, I lean into my arsenal of stories, mostly about my kids. I keep a collection of those on hand for a few reasons. 

First, kids are relatable. Many of my clients have their own. If not, they have nieces, nephews, cousins, and siblings, which helps my stories resonate.

Second, kid stories let me be authentic. I love my kids, and that shows through in my stories, which makes me seem more real.

Third, kid stories are a safe way for me to be vulnerable; to show moments in which I’ve screwed up and can laugh at myself.

Being able to laugh at myself is one thing, but I don’t want to try to impress a client by talking about a professional failure. That’s being a little too vulnerable. Instead, I’ll highlight a mistake that taught me a valuable lesson that ultimately made me better at what I do.

So now it’s your turn. Where will you start to dig for stories that show a softer side of you? Maybe it’s sports, or travel, or cars. Just pick a lane and start building your collection.

2. Establish a story structure

Once you have your source content, it’s time to start crafting the story.

The stories you tell will help others connect with you and want to be part of your success.

While there’s no one right way to tell a story, this  Forbes piece offers a simple outline of the key elements to focus on:

  • Clear moral or purpose. What’s the reason you’re telling this story, to this audience, at this time?
  • Personal connection. Does the story involve you, or someone you feel connected to?
  • Detailed characters and imagery. Does the story have enough visual description that we can see what you’re seeing?
  • Conflict, vulnerability, or achievement. Can we see what you’re learning or how you’re growing?

Play around with these elements, and then try to craft a narrative that brings them all to life. The stories you tell will help others connect with you and want to be part of your success.

3. Practice your story

A skilled storyteller makes it look incredibly easy and natural. But have you ever been caught in someone’s story during this moment?

“So, it was last Wednesday. No, actually, I think it was Thursday. No, wait! It was Wednesday because I remember it was raining. But hold on—first I have to tell you what happened on Monday or this won’t make sense.”

Listening to disjointed stories like these can be painful. Does it matter whether it was Wednesday or Thursday? Nope. Are we going to be able to make sense of—and, more importantly, connect with—a story where the teller has to repeatedly backtrack to fill in gaps? Probably not.

You want to practice and refine your stories so that you subject your listeners only to the details that matter and that move the narrative forward.

You want to practice and refine your stories so that you subject your listeners only to the details that matter and that move the narrative forward. Scrub the rest.

Tell your stories to people you trust and watch their reactions. Where do they laugh or gasp or nod? Which moments tend to make their eyes glaze over?

As Ira Glass, a master storyteller and host of the This American Life podcast, once famously said:

Good storytelling includes, among other things, having the courage to cut the crap. Not enough gets said about the importance of abandoning crap.

Pay attention and refine your technique as you go.

4. Connect your story to a purpose

A well-crafted and delivered story can be charming. Good stories create connection and inspire support. But all-charm-and-no-purpose will leave your audience confused and frustrated.

So once your story has reached its conclusion, be sure your point is abundantly clear so you don’t leave your audience thinking “So what?”

Your story’s conclusion has to deliver an insight that links to the moment.

When I tell a story about one of my daughters there is always some levity, something the audience can relate to. But ultimately, its conclusion has to deliver an insight that links to the moment. 

I tell one story about the headache-inducing outfits my older daughter used to wear to preschool every day. I describe the cornucopia of neons and zippers and feathers, and I see people visualizing the hilarious horror right along with me.

It always wins a laugh. But then I get to the point: It’s important, in business and in life, to find safe spaces in which to test and experiment and learn by trying. I want clients to know this is part of my mindset, that I encourage experimentation in safe spaces, and facilitate learning as we go. The story, when I make that connection clear, helps position me as a partner who also knows how to laugh.

So now it’s your turn. Go try this out, and when you see that first spark of connection, tell me the story of how it went.