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Are You A Boss Or A Leader? And One Is Definitely Better Than The Other

Are You A Boss Or A Leader? And One Is Definitely Better Than The Other

You’ve nursed your dream along slowly, patiently with equal parts of blood, sweat and tears. And now it’s starting to blossom and grow. People are noticing you, your business is growing. You’ve gone from a one-man show to hiring employees.  Congratulations. Take a moment and smile and thank everyone for their support and commitment. But only a moment. Then it’s back to work.

Now you have a decision to make: Are you going to be a boss or a leader?

And I hear you saying,“What is the difference?”

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The difference is, in a word, huge.

A leader is in the middle of it all

The difference can be summed up in a meme that is popping up all over the place these days: A boss tells you what to do, and a leader is out there with the people leading the way. To be sure, there are times when a leader has to do some telling, or be a boss, but a leader never makes that his/her main way of directing or leading.

The boss stands apart from people not with them. Sometimes it is necessary to stand apart for a few moments to take a breather (momentary) and look at the big picture. But after the breather, the leader jumps back in and is back in their shoulder to shoulder, and elbow to elbow with everyone else.

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One time, Sam Walton (Wal-Mart) went to visit one of his stores in Florida that had planned a special event.Upon arriving he found an electrical storm had disabled all the cash registers in the store, leaving the customers stranded in long lines as the cashiers had to do everything by hand. Upon seeing the growing lines, Walton grabbed a pencil and a pad of paper and began working his way through the lines tallying up each person’s purchase (and rounding down to the customer’s advantage). (Self-Made in America.  John McCormack with David Legge.  1990.  Addison Wesley.  Pages 127-128)

Struggling school teacher Ruth Fertel bought the famous New Orleans steakhouse, Chris’s Steakhouse (later to become Ruth’s Chris Steakhouse, but that’s another story) and spent a decade working alongside her employees, saying, “I thought my employees would respect me more if I worked right alongside them, so I did.” (When God Winks at You.  SQUire Rushnell.  2006.  W Publishing Group.  Page 128)

Working with and leading your employees will give you not only a better vision of where you’re taking your own dream, but also a vision of life in the trenches of your own company/enterprise/dream. And both those visions will make things better for everyone, if you’re able to retain your humility and understanding.

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What makes a good leader?

A Google search will reveal a whole host of lists of characteristics that differentiate leaders from bosses. Some of those include listening to their employees and valuing their employees; leaders don’t’ command/tell, they lead. Leading by example is the best way because the people actually see what it is that needs to be done, and can learn from you as they work next to you.

Leaders lead and learn simultaneously. They have the idea and vision of where to take things, and so they must lead, out there in the front blazing the path. But as they do that, they also share with everyone else, their vision and excite them about it. At the same time, they recognize they don’t know everything, and they are smart enough to know when to keep their mouths shut and listen and learn from someone else, even if that person is the lowest person on the totem pole. A leader knows that everyone is smarter than him/her in at least one area, and they are willing to learn from others. Leaders also motivate; they don’t use fear to move their people.  Fear only works as long as someone is there with the gun, the stick, whatever the fear factor is. Motivating with vision gets down inside people and stays long after the boss has left the building.

The servant-leader

The next step up the ladder is the servant-leader.

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Besides just being out there working shoulder to shoulder with their employees, the servant-leader does their level best to make sure the employees—and therefore also the clients/customers—are being served. Is this job helping this person (or my people) grow and become better?  Is this company serving its employees in the best way possible? Are we serving the community in the best way possible?

If the servant-leader believes an employee will do better in another job they will help their employee find something better, be it in their own company or elsewhere. They encourage their people to educate themselves not only in the things of their business, but personally, recognizing that education opens more doors and possibilities to their employees.  But they don’t hesitate to lower the boom when necessary.

The question is what kind of leader will you be?

Featured photo credit: Emma Frances Logan Barker via unsplash.com

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Last Updated on June 22, 2018

How to Nix Your Credit Card Debt in Less Than 3 Years

How to Nix Your Credit Card Debt in Less Than 3 Years

Debt is never a fun thing to be in. But, there are many actions that you can take that will help you rid yourself of the burden of debt once and for all.

By coming up with a set plan, eliminating your debt can feel much easier than constantly thinking about it.

This post will provide some tips on how you can do this to help you nix your credit card debt in less than 3 years.

Hint: there are ways that are easier than you think.

1. Consider consolidating multiple credit cards if possible

This may not be applicable to you, but if you have multiple cards – it is something to consider. Keeping up with multiple bills is time consuming.

It will depend on the balance you have on each. Consolidate ones you can but do not do it to the point that you get too close to the maximum limit. Also, it is ideal to pick the card with the lower interest rate.

Consider if there are any fees or alternatively, rewards, with transferring a balance to another card. Watch out for fees. Note that some cards offer rewards for transferring a balance to them. This is extra cash that can help go towards paying off your debt.

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Having one or two cards can make nixing your debt much simpler than keeping up with the balance of a bunch of cards. Keeping track of paying the minimum towards a bunch of cards is time consuming. Spend the time to consolidate instead to make the overall process simpler going forward.

My tip: Have one main credit card. Have a second one that you use for necessities – such as groceries or gas – that offers rewards for those purchases (a lot of cards do) and set the second one on auto-pay. You should be able to pay off a smaller amount on auto-pay if it is a necessity. If you think you cannot, then you may need to cut down a lot on expenses.

Why do I suggest doing this? Having one thing set to auto-pay is one less thing to think about. One less thing to waste time on. Same idea with consolidating to one main card. Tracking down too many is a hassle.

2. Try to pay the full balance you spent each month at the very least

You need to pay off the amount you are spending each month when that bill comes in. This is the amount you spent THAT month.

Do not let the debt keep accruing while you work on paying any unpaid debt that has accrued. It will become a never-ending battle. Try as best as you can to be current on paying for each month’s expenses when that month’s bill comes out.

If this is a strain, consider why. You may need to cut expenses. Or you may need to consider other cards. Or look at where this money is going.

3. Pay extra when you can – every small amount counts

This cannot be emphasized enough. If you are looking at a lot of credit card debt, it can look daunting, but each extra amount that you can put towards the debt will really add up – no matter how small it is.

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It does not just reduce the principal amount that you have left to pay off, but it reduces the amount that is collecting interest. You will always save money with that reduced interest.

4. Create a plan on how to pay extra

Back to the main point, having this plan is giving you one less thing to think about.

This plan should be a plan that works for you. If it does not work for you, your spending habits, and your views on debt, then it will not be an effective plan.

For instance, if a set plan of an extra $50 (or another amount that you know you can afford) works for you, then do that. Set that aside every month and pay that extra amount. Treat it like a bill. Choose an amount that works for you and pay it like clockwork as though it was a bill you had to pay each month.

Little amounts will not nix it entirely, but they will help tackle it and having a set plan can make it less of a chore. Creating a new plan of how much to put towards it each month is an unnecessary added stress.

5. Cut out costs for services you do not use

If you are signed up for subscriptions that you do not use because of some free trial or for some other reason, cut it out. Your overall financial position will look better.

In turn, that will make cutting your credit card debt easier. Look at your statements to find these expenses. If you do not use them, you may forget you are paying some unnecessary amount each month. Cutting it out can really add up in savings that you can put towards other needed expenses.

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6. Get aggressive about it

Consider these points:

Depending on the interest and the level of debt, you may need to give up a few indulgences. For example, instead of ordering delivery or going out to eat, cook at home. Everything adds up.

Other things may be more of a sacrifice. It may be a trip you wanted to go on, or a daily latte habit you’ve picked up. In these instances, consider how important it is to you and if it’s worth the sacrifice. And if it is a costly expense, think whether you can wait to indulge.

Cutting an extravagant expense can really help make a dent in your overall debt. Try not to add to debt when you are trying to pay it off. It will be a never-ending battle. Make it less of a battle with these tips and it will feel easier.

Bottom line: Do what you can to make this process easier for you. Implement steps that do this. It takes time now, but will help overall. Also, keep track of your spending and paying down of your debts. Which is the next point.

7. Reevaluate your progress at set intervals

Doing a regular check-in can help you see your efforts pay off or maybe indicate that you need to give this a bit more effort. If you check every 3-6 months, it will not feel so much like a chore or feel so daunting.

By doing this, you will be able to better understand your progress and perhaps readjust your plan. Bonus: if you see it pay off, it will feel great to do this check-in. You will get there.

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Finally (and most importantly)…

8. Keep trying

Do not get discouraged. Pushing it off will make it worse. Just keep trying.

Once your debt becomes lower, each monthly payment will reduce the balance more. Why? You are paying less towards interest. It will be a snowball effect eventually and it will become much easier to manage. Just get to that point. And know once you do, it will feel easier and motivating.

Start knocking out your debt today

The best way to eliminate debt is to get started right away. Begin by implementing the above steps and watch your debt just melt away. Try out some of the above strategies and see what works best for you. Soon you’ll be on your way to a debt free life.

Featured photo credit: Pexels via pexels.com

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