Creating Wealth is it really a secret?

Why do so many people believe the road to wealth is only availed to those having the secret? What if there were no secret but instead a recipe for success that would work if you worked it? These are a few of the observations that come to mind when this questioned is posed. While I don’t disagree that it takes a focus effort, a plan and true motivation to gain wealth I don’t believe it is exclusive to any particular group or set of abilities. However, there are basis principles that have worked and continue to work if consistently applied and maintained for a calculated amount of time. What does that mean? It implies there are so many people on the verge of a significant breakthrough and unfortunately just before it happens for them they decide give up or switch gears. As an example we think of children having a short attention span. However, there are a number of our adults that fall into that same category and are constantly jumping from one lily pad to the next looking for the get rich quick approach to gaining wealth. It is not easy to avoid all the hype of business opportunity after business opportunity making claims that in a few shorts months you can fire your boss and be on the road to financial security. In this troubled economic times who can say they are feeling comfortable about their long term security? The magic however as I have said before is while there millions of business opportunities out there finding the one that truly fits you is the first step. It doesn’t matter if you have the best product or service if you don’t believe in it. There are so many people who are working hard to generate income from business opportunities that don’t fit their skill set, don’t align with their short term income needs, they don’t find enjoyable or they don’t have realistic goals that are supportable by the venture. It all leads to another business failure before it even gets off the ground. What are the key attributes required to generate wealth?

One of the first things is having something you truly believe in, the knowledge to execute and the willingness to take calculated risks to achieve. The ability to take risk is essential because in any business venture you have to be willing to invest either time, money upfront with a belief the future will net a profitable return? Once you have latched onto an business opportunity that you believe is a good fit for your belief system, ability and knowledge you need a plan of action backed by resources of time and most cases money. Managing the resources you have of both time and money are essential to success. It is about putting enough capital and energy in the earlier stages of your business development to confirm you are on the right track. Most of us need positive feedback and encouragement to continue working a plan that could result in wealth. This is not something you decide to do after you have accumulated wealth this is something you do from start to finish. The unfortunate truth is a poor bad money manager with wealth just becomes a bad money manager with wealth. It is like working hard to loss 20 pounds and then putting it back on in half the time it took you to loss it. However, just having a recipe to create something doesn’t by any means assure you of success it is the execution of that recipe that makes all the difference. It takes me back to the first time I attempted to make my grandmother melt in your mouth homemade biscuits. I mean she would get in the morning and start making breakfast and many a day all I cared about was the smell of the biscuits and the knowledge that soon those coupled with canned preserves would make my morning. I was taught my mom at an early age learn to cook the things you love so you don’t have to depend on anyone else to cook them for you. So one morning I asked my grandmother for the recipe of her homemade biscuit and she smiled and without hesitation gave me all the ingredients and explained to me the process of making what I believed could have been an award winning delight. Well with recipe in hand and the process clearly explained I set out to reproduce something I truly loved and being a bit of a cook it was pure pleasure in making the attempt. I stress the word attempt because after about three attempts I gave up because my resulting tray of biscuits didn’t even come close to the lightness, texture and taste of my grandmother’s even on her worst day. My point being to really achieve success in any area it takes more than having the recipe you must also have the drive, dedication and truly desire to succeed. Why didn’t my biscuits come out like my grandmothers because the kneading of the dough was almost an art learned after years of experience and I’m sure at some point along the way trial and error. So while these are some of the critical elements of gaining wealth they by no means are all inclusive. The last element I will mention in this segment is the need to plan and the critical importance of setting realistic and measurable goals to track your performance and hold yourself accountable to achieving wealth as you have defined it. Yes what is wealth to you makes a difference in the planning, tracking and execution. Dare to dream is key because if it is not a challenge to achieve you probably didn’t make it big enough. May the winds of success blow your way and create in you the motivation to keep moving forward in your endeavors. What is the opportunity that will be the right fit for you to branch out in a new exciting direction and built wealth as you invest in yourself and the future for the ones you love?

This blog post is a reflection of the attributes that truly result in you being able to say I love my job. While it has been a difficult year it has also been one to gain a new perspective on applying old skills to new endeavors. I had an opportunity to interview for a position as a Program manager for a banking institute after not interviewing for a job since 2005 when I decided to open a discount store. I wanted to make a break from corporate America and start up my own business. My wife and I chose something we both had enjoyed once, because most people say if you have to work for a living find something you enjoy. Unfortunately enjoying doing something doesn’t mean you are going to be successful at doing it or making enough money to pay your bills. That proved itself out over the next four years as we struggled to make ends meet in running of what expanded to two stores and about 14 different employees during that period. I once heard the most difficult thing about a business start up is finding good people, and that turned out not to be an exception in our case. I can actually say we did enjoy the stores, meeting people, finding deals, developing advertising strategies and organizing the store to attract and keep customers coming back. We were pretty successful at most of these things but when you are in a down economy without enough reserves to weather the storm things have a way falling apart pretty quickly. It has been said many times that it is only a mistake if you don’t learn from it and one thing for sure there was a lot of learning along the way. But back to the most recent job interview for the Program Manager position that happen to a position I enjoyed the most during my career working for  three major companies, Digital Equipment Corporation, Dell Computer and a division of General Electric. Each of those program management position required a different set of skills as it applied to the fundamental requirements of the organization. The position for Digital resided in a high volume manufacturing operation where new mid-range systems were being developed simultaneously in the US and Ayr Scotland operations requiring Program Manager to align the development between the two engineering organization to assure consistent test and development processes were being developed and implemented. The Dell position on the other hand required engineering coordination of destructive device testing for supplier selection. The GE position was development of a Program Management office in an environment that was functioning as a functional structure in bringing New Products to the market. Each of the position while holding the same title of Program Manager required a different level of skill and attributes to be successful in the position. The bottom-line being just because a position has the same title doesn’t mean you will find the same level of job satisfaction in doing it. So when you say I love my job of be a car salesman that may not translate to a sales job for car parts or something totally unrelated to cars. Love my Job has a lot to do with the function of the job but also the environment, the people, the practices and the structure of the organization. Why am I saying all this because when I interviewed for the Program Manager position for the banking institution my joy of the position came out as I reflected on my position with Dell Computer more so than the other two companies. So as you search and land that job you once enjoyed completely and find something is meeting think about what, why and where you loved that job and hope for similarity in your new position.  

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Job Satisfaction - Better or Worst 2011

Here we are almost at the close of another employment year. Has it been a better one than the last one? Do we expect next year to be less or more of the same? Well as you surf the net for the answers they vary by a wide margin based on the source you chose. I believe after you complete your research you walk away with varying degrees of concern. As you read the following you find job satisfaction has improved or remained the same in most sectors for those that are employed. There are a number of factors that impact job satisfaction with salary being one and not an all in all. However, those with higher salaries tend to have a higher degree of job satisfaction with a general belief that if you enjoy what you are doing you give more to the job or career. What follows are tidbits of information on job satisfaction for 2011 that paint a picture that rebound prior to the most recent recession is still not on the horizon…judge for yourself.

Fewer American employees are satisfied with their jobs today than were before the 2008 economic crisis, though the vast majority of American workers remain satisfied with their jobs. The Gallup-Healthways Well-Being Index found 87.5% of workers satisfied with their job in April, continuing the trend of lower levels found since early 2009. Satisfaction is, however, up from the low of 86.9% in July and August 2010, but still below the high of 89.4% in February 2008.

Similar to last year's results, the majority of respondents (42% or 700) are satisfied with their jobs. Nearly 12% (203) said they are extremely satisfied. About 38% (644) rated their job satisfaction as just "okay." Only 8% (137) report a low level of job satisfaction and less than 2% said they're not at all content. A total of 1,722 respondents participated in this year's survey. Source: Chemical Processing Magazine.

The Gallup-Healthways Well-Being Index, which has been polling over 1,000 adults every day since January 2008, shows that Americans now feel worse about their jobs — and work environments — than ever before. People of all ages, and across income levels, are unhappy with their supervisors, apathetic about their organizations and detached from what they do. And there’s no reason to think things will soon improve.

Employee engagement may seem like a frill in a downturn economy. But it can make a big difference in a company’s survival. In a 2010 study, James K. Harter and colleagues found that lower job satisfaction foreshadowed poorer bottom-line performance. Gallup estimates the cost of America’s disengagement crisis at a staggering $300 billion in lost productivity annually. When people don’t care about their jobs or their employers, they don’t show up consistently, they produce less, or their work quality suffers.

Which jobs truly lead to job satisfaction? It's a question that online salary database Payscale.com set out to answer by asking workers across a broad spectrum of employment to rate their overall job satisfaction. The results may surprise those who think that money alone brings job happiness.
"If pay was the only factor that leads to job satisfaction, you wouldn't have jobs like firefighter or senior pastor at the top of the list, because they are not $100,000-plus jobs," says Al Lee, Payscale's director of quantitative analysis.

What those lower paying, high satisfaction jobs do have in common is the ability to help others and/or some degree of authority. The jobs that came in the top 30 on PayScale's list all have one or more of these three factors in common: good salary, authority, and the ability to help others.

Even as hiring picks up, the odds can seem daunting to job seekers. In a struggling economy with a 9.6 percent unemployment rate, competition is stiff even for some jobs that made our list. For every job opening in September, there were about five unemployed people, according to the Labor Department. While that's an improvement from 6.2 people for every job opening in November 2009, the most recent peak, "it's still a very tough job market," says Steve Hipple, an economist at the Labor Department. During the three years before the recession, the rate averaged 1.7 unemployed people for every job opening. Source: ALEXIS GRANT US News Money

10. Psychological Keys to Job Satisfaction…what do they mean to you?
1. Little hassles (sometime it is the small stuff that gets in the way)
2. Perception of fair pay (many believe perception is fact until proven otherwise)
3. Achievement (how far and high can I go in this job or career)
4. Feedback (communication key to motivated employees…how am I doing)
5. Complexity and variety (keep it interesting…salary/money is not enough)
6. Control (empowerment to input to the environment))
7. Organizational support (not standing alone to be successful)
8. Work-home overflow (life balance)
9. Honeymoons and hangovers (keep it challenging, interesting and engaging)
10. Easily pleased? (No need to over do it you can’t please everyone all the time)
Source: Psyblog…Understand your mind.

Tony May

Energy

Illinois, United States

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Job Satisfaction is it getting better?

What is the latest greatest on the status of job satisfaction in the working world as we focus on a new year? There continues to be on-going questions and studies on the subject. Clearly job satisfaction means differ things to differ people. What some may consider essential to job satisfaction could be deemed totally unimportant to others. However, there are measurable attributes that many would consider to be at a minimum critical to enjoying their place of employment. Job satisfaction attributes that you consider to be important may not be equally crucial for somebody else. However, the following are some of the attributes you should consider when doing a self assessment.

• Do you enjoy what you do for a living
• Are you making what you consider to be competitive salary with opportunities for promotion/increase
• Do you enjoy your place of work and amount of balance it provides for other life goals
• Do you feel you are recognized and rewarded appropriately
• Do you enjoy the people you work with and for
• Do you feel your commute is reasonable

Job dissatisfaction usually is visible in one or several of the above areas resulting in excessive stress, lack of desire to go to work, impact to performance resulting in higher than acceptable loss work days due to illness, boredom, lack of energy and drive. These potential performance implication drive employers to spending time and money to determine what improves job satisfaction and what steps can be taken to leverage it to ultimately improve the performance of their employees.

Job Satisfaction: Satisfied With Your Job?

What are leading employee satisfaction surveys saying about job satisfaction for the year 2010 that only about 45% Americans are satisfied with their jobs and nearly 64% people under 25 years of age are not interested in their work! Probably, these statistics may be scary but the matter of fact is that this data is holistic and dependent on several factors. These are some pretty high numbers consider the population of the workforce and the need for on-going performance improvement in the marketplace to maintain a competitive position. While a number of the factors are understood it doesn’t change the fact that a high percentage of people get up every morning to a job the are not happy with but don’t feel they have an alternative to making a living. This reflects a society that on any given day makes an effort to do their best under less than optimal circumstances. The point is that realistically we may not all being able to find and obtain that perfect fit but it is up to us to make the best of what we do find if it helps us to meet our needs. In sports I believe the term is push through it and give it your very best because who knows it may be just a stepping stone to one day doing the thing you love.

Respect on the job (Boss, company, product line and market)?

What does respect look like on the job. Many of us believe respect requires us to give up our values, integrity and peace of mind. This could not be farther from the true because if you make a sacrifice of this magnitude you may appear to respect your situation but over time you will loss respect for yourself. Remember the adage respect is not given, it is earned. So how do you earn respect on the job? It is important to role model the behaviors you want from your employees and co-workers. If you want employees and co-workers to follow your lead you need to be a good leader. Establish and engage your them in a clear and concise vision for the company. Recognize and reward them for their contributions to the mission of the organization so that the benefit’s of doing the job well is in the fore-front of their minds. Build on the teamwork by using examples of successful teams and accomplishments. Encourage your employees to grow and develop themselves beyond their current skills and abilities. Promote a positive attitude while keeping it real with the successes and opportunity for growth and development in the people and the organization. As in all things you must approach it with standards, or in other words where do you draw the line with regards to your social and moral values. We all have to live with ourselves there is really not much choice in the matter. To that end when respect requires you to allow your boss, environment or conditions of your job to be a constant stress factor in your life, then there is something wrong with that definition of respect. For many employees respect takes on the form of closing their eyes to self and picking up a pay check every pay period. While this may feel like the right thing to do in these times it probably is not the healthiest approach for the long term.

How Would You Rate Your Job?

How do you motivate your employees to consistently give their best job performance? A question every employer with a mindset to achieve the highest level of productively from their workforce must strive to answer. The ability to create a work environment where people truly love their job is no small feat. A number of forums have sprung up as a result of the ease of using the internet to tap into social opinion. There is actually a site where you can post an anonymous review of your place of work (Jobvent.com). It allows you to rate your company using a list of attributes that provide a pretty strong indication of weather you love or hate your job and why. Using the following list of attributes you rate your feelings about them as it applies to your place of work. If you look at each one it becomes apparent as to how they relate to job satisfaction or dis-satisfaction. Salary leads the list do you feel you are paid enough for what you do. While there are few people who would turn down a raise or an increase in pay this is by no means the cure all for creating a work environment where people thrive. I have actually met people during my career that have reached a place where money is not a motivator for them to give their best. They want a work environment where they are challenged, respected and surrounded by people that take joy in taking an organization to the next level. For others a work life balance is critical to their well being. The idea of working 7 days a week, 12-15 hours a day is a complete turn-off. Then there are those that desire career opportunity and growth because a sense of continued learning and building on their skill base is both energizing and exciting. Job security has always been pretty high on the list but in these days and times many employers are finding it difficult to promise this as a benefit of employment. Why might it be a good idea to spend time rating your job? The fact of the matter is that having a job you hate should not be a long term goal. It is not healthy for many reasons and tends to impact every aspect of your life. On the other hand if you have a job you love it might be a good idea to rate why because nothing is more constant then change. What would have to remain the same in a new job, for you to still love your job? It is a good thing to know because with success there is usually change some good and some not so good. What if your promotion took you to a new location, different career path, less job security, a negative impact on your work life balance? All these things need to be considered as you climb the corporate or career ladder, if loving what you do is important? So it might not be a bad idea to rate your job weather you hate or love it and give a little thought to what is your next move.


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Being Happy in Your Job has Benefits (Work & Home)

Employee satisfaction is at its lowest level in 22 years, according to a recent survey by the Conference Board. We are at a time when a little more than half of the full-time employees polled say they enjoy their work. This suggest a very high number of people who for one reason or another don't enjoy their job. While this is almost a none issue for those currntly un-employed and would be happy to have any job, it still presents a hugh problem going forward for employers and employees. The saying of leave home at home and work at work just doesn't completely play out in the real world. While a majority of the people gainfully employed understand the need to display professional behavior in the workplace, if they want to keep their job, that is not enough to cope with total dis-satisfaction in what you get up to do 5-6 days a week. You are only human and over time it tends to have some pretty serious consequences in your health, personal life and overall well being.

While there is convincing evidence that happiness at work has a measurable impact both on overall satisfaction with life and work perfomace. The truth is that every job is not going to excite you to successful behavior on the job and prvide total job satisfaction. If you are able to achieve happiness in your job it usually goes without saying you will also have a positive impact in your performace and life overall. Resulting in extra energy and productivity that should ultimately lead to further happiness due to positive recoginition,advancement and promotions.

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