Wealth Tactic Rebels Kevin M Dumont

Did you know that businesses, no matter how big or small, experience similar obstacles as they move from idea to goals to finishing a project? In over 25 years of training, teaching and executive experience, Jen McFarland has discovered these common obstacles. Join WTR host Kevin Dumont and guest expert Jen McFarland in rooting out 5 common mistakes many business owners make and unearth how to solve them.
Jen McFarlandWebsite
https://www.womenconquerbiz.com
LinkedIn URL
https://www.linkedin.com/in/jensmcfarland/
Facebook URL
https://www.facebook.com/womenconquerbiz
Twitter URL
https://twitter.com/jensmcfarland
YouTube URL
https://www.youtube.com/channel/UC4gqaZ96ns7jJzMMYQP-r7Q/
Instagram
Instagram
Notes:Kevin_Dumont: [00:00:00] Welcome to another discussion with Wealth Tactic Rebels, the podcast for people who see things differently. I'm your host, Kevin Dumont. I've been thinking differently in the wealth field for nearly 15 years today. I'm joined by a host. Jen McFarland. Jen, how are you today? Well, I appreciate you being here today and sharing your time and your knowledge with our wealth at the rebels.
So Jen is an entrepreneur in business consultant and, she has a particular expertise in business and, kind of like the Wealth Tactic Rebel philosophy, where we believe that you have a lot more to be had by first avoiding losses, before you go chasing a rate of return, like it's the same thing in business, Someone like Jen who's had a lot of experience has seen a lot of mistakes that people commonly make when they're trying to run their business. And if you can first learn those ahead of time, but through someone like Jen and look out to avoid those, you know, you have a lot better shot at having a more successful business.
So today's discussion is avoid these five common business mistakes. we're going to discuss those. It has to do with it mindset, willingness to poke holes in what you think is a success. and assessing risk and, time. And we also talked a little bit about, uh, with different ways that, that you can accomplish things.
Before we get into that though, Wealth Tactic Rebls, if you would do as a favor after this episode on whatever your preferred listening platform is, please just go there, give us a rating review and a, you can drop us a line. You can do it there. You can do it on a Wealth Tactic Rebles Facebook page. let us know what you found inspiring about today's episode, what you think may have helped you or someone, you know, Jen let's, let's get into a little bit, but before we get too far, would you mind sharing a little bit with our listeners about a little bit about where you came from and what inspired you to do what you do today?
Jen_McFarland: [00:01:48] Sure. Thank you, Kevin. And thanks again for having me on. so my name is, my name is Jen McFarland. Um, I have 25 years of teaching training and executive experience in leadership projects and marketing, and the way that I got really into. All of this was after college. I got really interested in the peace Corps.
One of my best friends went

Today we are discussing Empowering your Retirement. But before we get into that, let's talk, for a moment, about the position of our economy during the time of this recording, early June of 2020, specifically in regards to jobs. We are starting to see flattened curves from the COVID-19 pandemic and partial reopening's of parts of our economy in the US. There's even some good news jobs as according the Department of Labor Bureau of Labor Statistics, there were 2.5 million new jobs in May. However, the unemployment rate is still at 14.7%. Some sources, such as an article in Forbes on June 8th say there was an error in the calculations for the unemployment rate and therefore the true rate is closer to 20%. Regardless, there's been over roughly 42 million how have lost their jobs to date, and counting. There's also talk that many people whose jobs were retained because of the forgivable loans for small businesses, will be let go once those businesses are out of the specified period they are required to keep their employees.
What does this all mean to you, our Rebels? Well, many of you may find yourself, or someone you know, as one of the unfortunate unemployed, or fortunate, depending on your point of view, or those facing a forced, early retirement because of the pandemic. You may have left or will be leaving completely unprepared with this sudden and life altering situation and shrugging your shoulders asking, "now what?" While we can't answer that question for you, we discuss tactics today to help you better understand your financial position, what steps to take next and a some advice to help you through this difficult time.
Forbes Article: There’s A Glaring, Misleading Error In The May Jobs Report: U.S. May Be At 20% Unemployment

Nick Loper
Website
https://www.sidehustlenation.com
Website #2
https://www.VirtualAssistantAssistant.com
LinkedIn URL
https://www.linkedin.com/in/nickloper/
Facebook URL
https://www.facebook.com/SideHustleNation/
Twitter URL
https://twitter.com/nloper
YouTube URL
https://www.youtube.com/nickloper

Does a 20-hour work week sound appealing to you? Have you wanted to become an entrepreneur but thought it was too risky? When you have a business, you can create streams of income that can build you wealth. WTR welcomes Yasmin Vorajee, an entrepreneur. In this week’s episode, we will discuss how to build assets that could bring you income over time.
Ingenious tactics to accumulate wealth, for people who see things differently.
Website
https://www.yasminvorajee.com/
LinkedIn URL
https://www.linkedin.com/in/yasminvorajee/
Yasmin Vorajee
Facebook URL
https://www.facebook.com/tinytimebigresultswithYasminVorajee/
Twitter URL
https://twitter.com/tinytimewithyas
YouTube URL
https://www.youtube.com/user/yasminvorajee
[00:55] Kevin: Today we’re joined by guest Yasmin Vorajee. Today we’re going to talk about making your money work for you, not someone else. Yasmin is an entrepreneur and an expert in making your money work for yourself
[02:40] Would you mind sharing a little bit with our listeners where you came from and what inspired you to do what you do today?
[02:50] Yasmin: I’m the creator of Tiny Time, Big Results, which is all about how to have a profitable 20 hour week business
[04:25] If I only have a few hours a day, how can I make the most of the time that I have so that I can still have a profitable business so that I can still be with my kids and still feel like I have balance?
[05:05] Kevin: It’s not just work all day, everyday. Then you’re missing out on a lot of things. To me, I think wealth is important to bring a quality of life
[05:15] Yasmin: Wealth for me is not just about the amount of money that you make or the amount of money that you have. It’s about the time you’re spending with your loved ones, the time you get to have some fun. You can enjoy what you’re doing
[05:40] What is it that I’m here to do? How can I add more value to this world and do what I love and get well paid for it?
[05:50] Kevin: Building wealth is creating assets. If you can build an asset that, when the world turns upside down, you are avoiding that loss since you still have income and that puts you in a better position
[07:05] Yasmin: I think being self employed was considered to be the really risky option that you were being super brave if you created your own business. But over the years I’ve really come to realize that actually being employed is incredibly risky. You’re a number in that system. And when they don’t need you anymore, you’re gone. When you have a business and you create streams of income in that business, if one starts to slow down, you can make the other ones be a little more fruitful for you. Whereas if you lose your job, you have one stream of income and that’s gone
[08:43] I think for a lot of people they’re probably thinking the time is going to be an issue and that they don’t have the time
[11:15] The way that I look at leverage is if I have an asset, how can I create a greater return from that? My book is a leveraged product because I’ve poured all my knowledge and expertise into a book that now sells for me. I’ve created it once, now it sells over and over again for me
[12:45] When you’re selling your time, you always have a cap on how much you can...

Due to this crisis, there’s a shift in how business is happening. Lately, more and more people are hiring virtual assistants to increase their business’ productivity rate, and this means that you could find a virtual assistant who has strong skill sets and work ethic. Today, WTR welcomes Danielle Cuomo, entrepreneur, and owner of Virtual Assist USA. In this week’s episode, join us as we discuss the benefits to hire virtually and working from home, in these unprecedented times.
Ingenious tactics to accumulate wealth, for people who see things differently.
Danielle Cuomo
Website
http://www.VirtualAssistUSA.com
LinkedIn URL
https://www.linkedin.com/in/djc287
Facebook URL
https://www.facebook.com/findvirtualassistant/
Twitter URL
http://www.twitter.com/assist_usa
Notes
[00:55] Kevin: Today, we’re joined by guest Danielle Cuomo. Today we're going to be talking about increasing productivity, hire virtually. Danielle is an expert in that field, an entrepreneur, and owner of Virtual Assist USA[01:33] These days it is more prominent to hire virtually for businesses. If you're an entrepreneur, you will be able to hire out virtually to help you with tasks (smaller or part-time or full-time)[02:14] Would you mind sharing a little bit with our listeners about where you came from and what inspired you to do what you do today?[02:23] Danielle: One thing that I think that is really timely with what we're facing now with the Covid-19 virus is that I started this business in 2008 and it was a[03:25] I really wanted to center my business around the idea that services can be really nimble, they can be flexible, they can be on-demand, and it would be an alternative to hiring employees[03:52] I was working in IT consulting at the time and because it was the start of the recession I had just been laid off, so that was disheartening. So it was important for me to turn that into a positive and I felt like I had nothing to lose[04:22] Now with the technology, there’s such a low barrier to entry and it’s possible for anyone (a really easy way to start a business and a really great time to do so)[05:45] I think people are seeing how do-able and easy it is to work remotely, that technology makes it possible to still build business relationships[07:10] We’ve always been 100% remote so for the past 12 years we’ve operated virtually. When something like this happens, we don’t have to pivot or scramble, we can do business as usual[07:25] Our clients really benefited from that because they didn’t have any interruptions in their service (in any uncertain time I think that’s really important)[08:05] Another benefit has really been that there’s also a really broad range of skillsets to choose from. When you’re working with someone locally in your office, you’re only able to choose from the skillsets that are available to you in your specific geographical area. But when you’re working virtually with a virtual assistant company, we can pool from a nation-wide pool of talent which can get you people who have stronger skillsets[09:22] Kevin: Have you sen this whole idea of being able to hire virtually open doors for entrepreneurs?[09:28] Danielle: I definitely have because they have all the tools accessible and available to them. I typically...

It is a mistake to think that post-crisis, everything will be the way it was before. This can be a hard fact to grasp, and companies have been suffering because of this panic and fear driving the population. Today, WTR welcomes Greg Shepard, serial entrepreneur, investor, Forbes author, and Ted X speaker. In this week’s episode, we discuss the steps that occur in the crisis journey, and how to get your business to return to deliberate operations.
Ingenious tactics to accumulate wealth, for people who see things differently.
Greg Shepard
Website
http://www.gregoryshepard.com
LinkedIn URL
https://www.linkedin.com/in/gregshepard/
Facebook URL
https://www.facebook.com/GregoryJShepard/
Twitter URL
https://twitter.com/gregshepard_
YouTube URL
https://www.youtube.com/channel/UC7GeCLaOiWzNfiu9gTpfehg?view_as=subscriber
NOTES:
[00:56] Kevin: Today, we're joined by guest Greg Shepard. Today we're going to talk about crisis management during the pandemic. Our guest is a serial entrepreneur, investor, Forbes author, and Ted X speaker
[01:28] He made it a mission for himself with his company BOSS (Business Operating Support System) and they are trying to help companies right now weather this storm of crisis
[01:45] Would you mind sharing with our WTR listeners about where you came from and what inspired you to do what you do today?
[01:55] Greg: When I was young I was pretty poor and we had next to nothing. When I started to build businesses I got to the other side of that and started to really want to give back
[05:05] BOSS has 5 major steps
[05:08] The north star: identifying where you want to go and what success looks like
[05:10] Strategy: the plan itself
[05:13] Execution: actually the process of executing the plan
[05:17] Standardization: puts in place processes and procedures and standards
[05:29] The continuous improvement loop
[05:32] When this crisis happened, we said we need to have a module that you could slide in to get your business from crisis back to business as usual and then move forward with BOSS again
[06:00] The crisis journey steps
[06:02] The call to action (the virus)
[06:07] Meeting your mentor (meeting somebody or something that's going to help you through this process... seeking advice from somebody who's already been there)
[07:02] Crossing the threshold (acting on the advice given by the mentor)
[07:07] The reward (where you emerge from the crisis as a better company back to normalization
[07:14] Back to ordinary business
[07:20] Crisis management phases
[07:25] Initial assessment and damage control (looking at the immediate and potential long-impacts on this crisis to your business and to the market in general)
[07:40] Do what you can to limit the damage to you
[07:50] What do you need on your team and what do you have available on your team that you can use to help you get that information?
[08:07] Stabilization and a crisis pivot (where you're trying to get more stable and get to a point where you can pivot)
[09:14] How can you use existing assets and talents differently to generate revenue or enter new markets?
[09:52] How can you adapt to that decision that I just went through?
[09:58] Seizing an opportunity (what aspect of your business sector is likely to see permanent change?)
[10:30] Returned deliberate operations (what conditions must be met in order for you to exit the...