Happiest Time of the Year…Or Is It?

We've all heard the Christmas song "It's the Most Wonderful Time of the Year" by Andy Williams. Being that the holidays are in full swing, I'm sure it's one of many you'll hear over and over again, whether on the radio while you're driving or in the shopping mall looking for last-minute gifts. The song sticks with you, and you can't get it out of your head—even when you seem to be overstressed and in a bah humbug mood.

No judgment with regard to the mood, Christmas and the holiday season as a whole are stressful. It's also an emotionally challenging time for people. With the current economic situation it can be downright depressing, even for those who have a great deal for which to be grateful.

Depression hits us when we least expect it, and the holidays can trigger some deeply rooted emotions which we've yet to deal with, admit to or let go of. A few people have good external reasons to be depressed. Let me share an example: a true story that was shared with me this morning.

A family with four young children just used its savings to move from a two-bedroom apartment into a four-bedroom, two-bath apartment with the intention that they can provide a more comfortable living situation for the children. It's nothing extravagant and both parents are employed, so the leap of faith was taken.

The wife left to spend the last few days with her dying brother. She came home grateful for what she had, which wasn't much. But she had her children, husband and job. Within a week of returning and moving into their new apartment, both she and her husband lost their jobs. Now, just a few weeks before Christmas, they have no income and virtually no savings, and they're looking at not being able to make the rent at the first of the month.

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Holiday Spirit and Your Stress

There is not a more stressful time than the holidays. And, well, I can't name one person who actually enjoys the stress associated with holidays. The stress of dealing with family, the politics that comes with buying the right gift—or worse, making the decision not to buy the gift at all! Let's not even mention the stress of dealing with other stressed out holiday shoppers all vying for the "last" of whatever is the hot ticket item.

Fortunately, in this age of technology the shopping is not so bad as it once was; with a few clicks of a mouse, you can purchase your much-needed item, have it shipped to you, and all that's left is the wrapping. I'll admit, I did a lot more online shopping this Christmas than for Christmases past, and I liked it.

The truth about stress is that a particular amount of stress or anxiety is healthy. As a Crisis Coach I deal with clients who are moving through not just this heightened holiday stress level that comes but once a year—which, by the way, we are more emotionally, physically and psychologically ready for than we might realize since we "know" about the upcoming stress and the triggers that get our blood boiling: triggers like line cutters, not getting the "good" parking spot, or missing the extra 20% discount by an hour.

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Be Paid Your Worth in 3 Easy Steps!

Business is competitive. Period. You go into business to make money and be your own boss: to set your own schedule and work with only those clients who are in alignment with your philosophy.

Because of the high level of competitiveness, there is a chance in the beginning you are going to charge less than your closest competitors; and in the beginning, this is for most of you the best decision. You need to get the doors open and buyers in. But for how long do you continue to charge a fee that is a "steal"?

Yes, the economy isn't the greatest, and people still have their purse strings tightened. But those who are in need of your goods or services are ready to jump on board with you and invest the fees necessary. You know what sets you apart from your competitors, and the key to convincing a client or customer to choose you is what you offer that no one else does.

Ideally you want to charge a fee that can withstand whatever the current market will bear but still be considered a good deal. So what stops you from establishing a fair market value for your services and provide your knowledge for less than what it's worth? Simply stated: Your confidence is impacting your ability to be paid your worth!

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Are You Financially Balanced?

Is your business growing? Or has it stagnated during these last few years due to the economic downturn? Like most of us who own their own business, going to the next level is always a big step: a step that takes more than just courage, optimism and a great concept.

It also takes money. Purse strings are tight, and to reach out and ask for financial help can be more than a little scary. The big question is what type of financial help you want—I mean, other than just asking for money. Are you open to giving up part ownership? What about paying interest on the money you receive?

The two means of financing available for your company are:

1. Debt Financing, which is when you borrow a set amount of money for a predetermined period of time and pay a predetermined interest; and
2. Equity Financing is receiving an injection of funding in exchange for an ownership stake. The percentage of ownership is based on the amount the investor is paying per share and how many shares he's purchasing.

But how do you determine which form of financing is right for you? Both of these financing options have advantages and disadvantages. Before we go any further, let me clearly state this: Your final decision, before doing anything, needs to be based on education and knowledge. Your specific business situation is unique to you and your financing options, no matter which path you choose. It is unique to you, and there are two professional resources you need to seek out and tap into before venturing into the wild world of financing. Those two resources are a CPA specializing in financial investment and associated tax laws, and a lawyer specializing in fundraising and associated state and federal business laws.

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