Seven Ways to Become a Better Leader

 

7 Ways to Become a Better Leader

 

Being a great leader is a main professional goal that seems desirable and attainable to the vast majority of women nowadays. For example, according to Women’s Leadership study published by KPMG, 64 percent of women aspire to be a top-level leader in an organization in the future, and more than 50 percent want to be a board member.

 

Despite having a strong desire to lead, many women are hesitant about taking a leadership role: the same women who aspire to lead also reported they have difficulties envisioning themselves in a leadership position in the future. In fact, 59 percent (six in 10 women!) said it was hard for them to even see themselves as a leader.

 

If you’re having the same doubts, you should definitely check out at how you can become a more effective and confident leader yourself.

 

Get the Training You Need

 

While there are natural born leaders, according to Behavioral theories, most leaders today are developed through extensive leadership training.

 

When asked about what training they needed to move to leadership roles, the participants of the aforementioned Women’s Leadership study said they needed:

 

  • Leadership training (57 percent)
  • Decision making training (48 percent)
  • Networking (47 percent)
  • Critical thinking (46 percent)

 

There are many opportunities to gain leadership skills such as online courses, so use them to improve your chance of moving into a leadership role when you’re ready.

 

For example, you can start by exploring free leadership courses on Coursera.

 

Develop Listening Skills

 

Successful women leaders know how to listen. Jessanne Collins, editor-in-chief of Mental Floss Magazine, had this to say about the importance of this skill:

 

Leadership is mostly about listening. You can’t create a team that thrives if you can’t respond to what each member needs.”

 

According to Collins, the best leaders are great communicators because they obtain maximum information they need to do their job effectively. For example, by listening to every member of the team, a leader can develop a proper understanding of their colleague’s personalities and respond to them in a way that improves communication and, therefore, teamwork.

 

One great way to get more participation from your team and develop listening skills at the same time is to introduce a weekly meeting,” says Dwight Johnson, a leadership coach from Assignment Helper. “It would serve as a place to brainstorm, strengthen team mentality, improve teamwork, and, of course, improve listening skills.”

 

Forget about Your Ego

 

True women leaders know how important it is to leave their egos at the door and focus on what gets the job done. Even if this means doing tasks that are “beneath” them. You see, being a leader doesn’t mean that you’re above all others, so you don’t do things like making coffee for your team or helping them to do paperwork.

 

In fact, it’s quite the opposite: as a leader, you must pay attention to the unique talents of each person and make better use of them by taking some work off their plate. Ultimately, you’ll see that your team has more respect for you because you’re willing to get your hands dirty and make them feel appreciated and valued.

 

Pursue Your Ambition

 

According to Washington Post, roughly the same ratio of female and male executives have the desire to reach a top management position. Moreover, 83 percent of women reported having a strong desire to advance to the next level of their organizations.

 

So, it’s completely okay to be comfortable while displaying emotional and behavioral characteristics of ambition. Remember: there are lots of women pursuing their ambitions and reaching top positions, why not be one of them? A good start would be to enroll to effective leadership and executive training that’ll change the way you think about ambition.

 

Learn How to Manage Your Emotions

 

The way you react to situations will have a profound impact on the perception others have of you. For example, if a leader freaks out after hearing that their company lost a big client, it can create a distance between them and their followers. So, to make sure that the perception is positive, you must learn the skills of flexibly enduring the ups and downs of your professional life.

 

Women process negative emotions quite differently than men, and “are more likely to develop major depression, anxiety disorder, and PTSD, all of which are related to emotional dysregulation,” says Dr. Annette Milnik of the University of Basel while describing the results of one of her recent studies on emotions.

 

For you, this means that you may be at increased risk of developing these unwanted outcomes if you face significant stress but fail to develop emotional intelligence, i.e., the ability to keep that kind of emotion in check.

 

This means learning:

  • Not to be discouraged if a negative situation doesn’t change overnight
  • How to keep emotions in check
  • How to cope with negativity

 

Remember: like all forms of self-improvement, learning how to be a great leader is a marathon, not a sprint.

 

Keep Your Promises

 

If a leader makes promises she can’t keep, her credibility will suffer big-time. That’s why you should learn how to always keep your promises to other people, even if it’s downright painful for you. To develop this habit and maintain your credibility as a leader, begin early and practice keeping promises with anyone you can, including family members and friends.

 

Master Your Problem Solving and Critical Thinking Skills

 

If you master these immensely important qualities, they will improve the quality of your leadership.

When you effectively utilize problem solving and critical thinking skills you:

  • Avoid quick judgements
  • Rely on reason rather than emotion
  • Consider evidence before making a decision
  • Are willing to question assumptions
  • Able to disregard personal bias and prejudice

 

Once again, online courses can be a huge help to learn these skills. Check out what popular online educational platforms Coursera, Udemy, and Future Learn have for you.

 

Dress Appropriately

 

Last but not least, the dress code. Forget about the old “dress to impress” nonsense because it’s time to dress to influence others. This means ensuring that your appearance is consistent with your professional and personal brand.

Here are leader style tips to follow:

  • Use makeup strategically. There are studies that found that makeup sends a strong message about credibility to both women and men. For example, it is recommended to avoid dramatic looks such as smokey eyes and false eyelashes and instead go for more neutral looks.
  • Think about color. “All shades of red, preferably a blue-red, and black convey leadership and power,” says women’s image consultant and wardrobe stylist Michele Oppenheimer.

 

Quality over quantity. Consider investing in quality clothes that will serve you for years to come. Only quality clothing has perfect tailoring and exquisite fabric that is always fashionable.

 

Over to You

 

Successful women leaders have these skills, and you can also develop them. Let the tips above be useful to you to empower yourself to seize a great leadership position!

 


 

Lucy Benton is a writing coach, an editor who finds her passion in expressing own thoughts as a blogger. She is constantly looking for the ways to improve her skills and expertise. Also Lucy has her own blog Prowritingpartner.com where you can check her last publications. If you’re interested in working with Lucy , you can find her on Twitter.

 

 

 

 

How to Maintain Work-Life Balance: Tips for Mothers and Entrepreneurs

 

How to Maintain Work-Life Balance: Tips for Mothers and Entrepreneurs

 

Looking for the magic pill to achieve ”work-life balance?” Unfortunately, there is no such magical thing, but by incorporating some of these strategies into your own life, you’ll find it is possible to maintain a healthy relationship with family while finding time to pursue your passions and business goals. 

Every entrepreneur struggles to find a balance and being a parent makes that struggle ten times more difficult. Working moms are amazing jugglers who execute multiple roles. You have to acknowledge all you’ve accomplished. The spirit of doing all the things and doing it every day is the driving force that keeps you running on the road to successful work-life balance.

 

 

Manage your time and learn to say no

 

Time management is one of the biggest challenges working moms face. Focus on the essential tasks first. Learn to say no to least important tasks and simplify your work. Using a calendar broken into categories of task importance to manage both professional and personal priorities will be helpful. Split it up into four groups: Urgent/important, urgent/not important, not urgent/important and not urgent/not important. Get it the habit of jotting down a to-do as it comes up and prioritizing its importance early on. 

 

 

Have a Plan

 

All mompreneurs use planners to balance their work and family life. Some use paper organizers and some prefer apps and software. The good news is that you can keep both personal and work appointments on the same calendar to avoid a clash. Don’t be afraid to experiment with different systems. Play around with apps like Asana or Trello and see what best works for you, what makes you more efficient and organized. Toggl is another helpful tool that allows you to keep track of hours to maximize productivity and efficiency. It allows you to see break down your schedule according to specific tasks and projects and then provides you with weekly and monthly summaries. 

 

Be optimistic

 

Business startups can be challenging, so you need to remain optimistic while facing failure. You will encounter a plethora of difficulties balancing your work and family simultaneously, but do not fall into despair. Remind yourself that you have the potential and you can do it.  A positive mindset will help you visualize your goals. A positive attitude is priceless.

 

Replace the word “perfect” with “good enough”

 

Most moms want to be the perfect mother, perfect wife, and a perfect entrepreneur – all at the same time, but chasing this perfectionism takes the joy out of motherhood. While making your work life perfect, you somehow lack in making your family life perfect, so isn’t it better to balance both with “good enough” rather than “perfect”? 

 

Make time for family

 

Family time can relieve stress, develop positive behavior and help you lead a healthy lifestyle. All these things will be beneficial in the startup world when you are struggling to remain positive. Organize family camping trips, game nights, walks to the park, and build a quality relationship with your family. These are little things that are worth your valuable time and you will never regret it.

Make sure you’re also awarding yourself some “me” time. Challenge yourself to work a little bit more the night before so you can reserve the following day for extra long naps, a movie marathon, trying out a new recipe, a much deserved shopping trip, or whatever it is that leaves you feeling recharged. 

 

Don’t let mommy guilt destroy your morale

 

When receiving unwanted parental advice whether it’s direct or passive, pay no attention. Do what works for you. Internalizing the “shoulds” and “should nots” in your life can create unnecessary hurdles in your success.

 

Encourage yourself

 

In today’s fast-paced society, it’s difficult to find time to be alone. When you are struggling to balance your work and family, it’s important to keep reminding yourself that you can manage everything. Things will get better with time. Find some self-reflection time for yourself. 

It is possible to balance motherhood and a successful, exciting career. It takes dedication, passion, patience, and self-love. 

To all the mothers tackling their own businesses or juggling a high-power career with kiddos, keep inspiring! 

 

 

 

 

Judy Robinson is a passionate health and lifestyle blogger. She loves to write on healthy lifestyle, fitness 101 and DIY related topics. Follow @judyrobinson for more updates.

 

 

 

Powerful Keys to Growth Mindset Success

Powerful Keys To Growth Mindset Success

 

Powerful Keys to Growth Mindset Success

You’ve heard about the benefits of a growth mindset, but how does someone change their mindset? Research on brain plasticity has shown that neural connections can change with experience. That means there are things you can do to change the way you think. Here are five keys to encourage growth mindset success.

 

Growth mindset versus fixed mindset

 

A mindset has a major impact on the trajectory of a person’s life. Someone with a fixed mindset will base their life around what they consider their inborn strengths, while shunning unfamiliar situations. People with fixed mindsets often give up on a task that proves challenging, since if their attributes cannot accomplish their goal, then it seems unlikely they will succeed.

 

Alex Ferguson, a psychologist writing for UK top writers, explains, “A growth mindset is the opposite of a fixed mindset. If you have a fixed mindset, then you believe your personality, emotions, level of intelligence, and other characteristics are predetermined and not something you can change.”

 

So, on the other hand, a person possessing a growth mindset approaches life with the belief that they determine whether they succeed or fail at something. These people approach failure as a learning experience, an opportunity to improve themselves.

 

Open your mind to new experiences

 

Be open to new experiences. Carol Dweck, a pioneer in growth mindset theory, asked participants, possessing either a fixed or growth mindset, a group of difficult questions. She then examined her subjects’ brain activity while they were informed on how well they had done.

 

What Dweck discovered was that those with a fixed mindset showed interest while hearing that they had answered correctly. Their brains were much less active when hearing information about questions they had answered incorrectly. Dweck concluded from this exercise that a fixed mindset is a barrier to someone learning.

 

Sandra Wheeler, writer at Best Australian Writers, advises, “The participants with growth mindsets experienced a high level of brain activity throughout the process and learned more from the exercise than those with the fixed mindset. Approach life with a growth mindset if you value continuous learning.”

 

Your words and their impact

 

What you say and don’t say can have a major effect on the people around you. Does your growth mindset carry over to the way you approach relationships? Do you find yourself encouraging others to grow and develop their talents and abilities? Or do you sometimes forget that everyone has the capacity to improve themselves if they adopt a growth mindset? If this is the case, try and think of some ways you can improve and encourage a growth mindset in the people around you.

 

Consider organizing your thoughts on paper. Maybe you communicate better this way; try writing a letter or a note to someone, encouraging them to think about adopting a growth mindset or express your thoughts in a poem, essay, or even a book by using writing guides such as Via Writing and Grammarix. Also, according to study, writing is a key to improved mood, well-being, it reduces stress and improves creativity.

 

Maintain a good attitude

 

Your attitude is so important, guard it carefully against negativity. Watch out for negative comments, don’t let them distract you. Listen to the voice inside you, rather than obsessing over criticism, if you think it is coming from a place of growth mindset. Be compassionate with yourself; don’t be any harder or more negative than you would be when speaking to a friend or family member. If you can get into the habit of keeping a positive outlook, then you will also be able to harness the power of envisioning a positive outcome.

 

Before you accomplish a goal, you must visualize yourself doing it. Think about what success means to you and then picture yourself achieving that success. Think about how great you will feel when you master this new skill, doing this will help you focus on accomplishing it. Perhaps your goal is to establish your own business. The good example is BoomEssays, which was founded by person, who changed his mindset to a growth mindset and reaped the rewards.

 

Celebrate when you succeed

 

When you experience success, take a moment to celebrate it. More importantly, take stock of why you succeeded. Think of the hard work that allowed you to learn the skill that led to your success. Focus on what you’ve done to achieve, rather than accept it as a result of your inborn talents. Think about how your growth mindset has played a role in helping you succeed. Some people find it helpful to keep a journal about these things. If you want a helping hand getting started, check out resources such as Revieweal.

 

Change your mindset and you will change your life. You can encourage a growth mindset by keeping an open mind towards new experiences, being mindful of your words and their impact, maintaining a good attitude, and celebrating your successes. Changing your mindset sounds difficult, but if you are mindful and follow these keys, it is within your grasp.

 

 

 

Brenda Berg is a professional with over 15 years of experience in business management, marketing and entrepreneurship. Consultant and tutor for college students and entrepreneurs at Oxessays. Also, Brenda is a part-time educator and Editor in Chief at Essayroo. She believes that constant learning is the only way to success. You can visit her personal blog at Letsgoandlearn.com

 

 

5 Questions To Ask Before Opening A Savings Accounts

5 Questions To Ask Before Opening A Savings Accounts

Many people save money through websites like Simply Switch which allows them to search for lower energy bills, but they don’t actually put that money away in a saving account. A lot of people also have limited knowledge of saving accounts. Did you know that all savings accounts are not the same? Among the variables that affect an account’s profitability are the financial institution, the mode of operation, and online product accessibility. Apart from these factors, you also have the interest rates and fees to consider..

Opening a savings account is one of the most low risk investments that the average person can make, with many asking how to open a tax free savings account so they can get started on their investments. Often times, you won’t have to pay much and you will start to see a return in just 30 days. However, to develop the financial skills to handle big investments, you need the financial skills to handle small investments.

In this article, you will learn 5 questions you should be asking before opening up an account. Although we will cover it in terms of a savings account, these questions scope way further and are often at the core of being a financially savvy person.

What Type Of Financial Institution Should I Bank With?

One of the most critical factors you need to consider before committing to a savings account is the type of financial institutions that will offer you the savings account.

You can either open your savings account at the bank or credit union. Irrespective of where you open your account, you will enjoy a similar but different experience.

The Federal Deposit Insurance Corporation is in charge of the insurance of all the savings accounts at the US banks. On the other hand, the National Credit Union Administration insures all the savings account at the credit unions. As a result of this, there is a slight difference in the mode of operation of the two institutions.

What is The Difference Between a Bank and Credit Union?

Another thing you need to consider when opening an account is your convenience. It does not matter whether you want to operate your account online or plan not to visit a bank. What matters is for you to be able to visit the bank conveniently.

You’re probably wondering what is the closest bank or credit union near me? Before you pick one, understand the difference. Banks tend to be national with plenty of locations while credit unions tend to be local with less locations.

Research shows that you tend to save more time and money when your bank/credit union is closer to you. You will be free from unnecessary traveling or stress.

Aside from that, banks are for profit organizations that tend to have higher fees but higher payout rates for their premium accounts. They also have a greater diversity of financial products. Credit unions on the other hand are local, have less locations, are non-profit, have less products, less fees and tend to pay out more on their normal accounts.

Lastly, you should also know if the bank has a live chat or telephone support.

Your convenience is your priority. Do not open an account in a financial institution that is far from you.

What Are The Interest Rates?

Saving accounts do not pay high interest rates. The essence of having a saving account is to keep some money in case of emergency. Despite this, financial institutions compensate their customers with interests for having money in their saving accounts.

However, one main reason why people choose one saving account over the rest is of the interest rate. You too can do your research. Compare the interest rates available and go for your choice. With a wide range of savings accounts available, you might want to check here to see if you can find the best plan for your needs.

The interest rate, although small in payment is valuable. At the moment, many common currencies are depreciating – that means keeping $1,000 under your mattress will be losing you money over time. The small interest rates help combat inflation and keep your money in the green.

What Are The Fees And Prices?

Take your time to inquire about the fees and prices payable on the account. Saving accounts should not cost you much.

Know when the financial institution might charge you a fee. For example, some institution levy a fee for too many withdrawals within a month. Some charges a fee for not having a particular amount in an account within 6 months.

Whichever way, do not go for an account that will charge you so much that you will end up paying more than you receive from them as interest.

Are The Bonuses Actually Traps?

Many institutions offer mouthwatering offers to lure customers into opening a savings account with them. Most of the time, these offers disappear within three months or at most a year.

While opening an account, you should be sure that the bonus they offer are not short term. You should also try to consider the account without the bonus.

Ask yourself how good the account will be without the mouthwatering offers. If you are satisfied with it, you can go for it.

Having a good knowledge of a saving account before opening it will save you from getting stuck with a bank that does not serve your purpose.

For the last 22 years Brandi Zeledon has worked for major firms analyzing market data, interviewing world-class entrepreneurs, and studying global finance. With the massive demand for accurate, potent, and game changing information out there, she decided to start her Bulletproof Financing blog. By combining her passions for finance and writing, she has now found the perfect medium to continue her career.

Valuable Things That Business School Won’t Teach You

 

Valuable Things That Business School Won’t Teach You

 

Sure, it’s great to have on your resume if you went to a highly esteemed business school, but that isn’t what makes the difference between a good and a great employer. The corporate rat race can be a winding and difficult road, but the qualities that will carry you through the tough times are essentially the same as they are in any other field: focus, gratitude, humility, and patience.

These are the timeless traits that will make you into an effective force no matter what you choose to do with your life. There are plenty of people with distinguished qualifications, but they fail to ever become a force to be reckoned with because they lack these qualities.

Here are some skills which are essential for your future success, things that school can’t always teach:

Listening Skills

 

While MBA programs are quick to emphasize things like presentation skills, it is rare that the focus is on listening skills. Listening makes up half of communication, so it must not be overlooked. Some people may think speaking is the most important part of the equation, and assume that listening is simply for the weak or incompetent, but nothing is further from the truth.

Listening can make you a better leader, as you are taking in more information before making your decisions. If you do not listen to your team, you are simply unfit to steer the ship in an effective way because you are choosing to only view the situation from one perspective: your own.

Learning to Work Together

 

This is a skill that goes hand in hand with listening skills. You need to be able to work synergistically with those around you, whether they are employees or coworkers.

While you don’t need to be friends with everyone outside of work, learning to work effectively with all types of personalities is a must for success. Many companies today are making great strides in regard to managing teamwork via project management software. This is something for a business owner to consider if the team as a whole is struggling.

Focus On Goals

 

Without setting your sights on something tangible to accomplish, you and the team will be improperly oriented for success. Setting goals will amp up focus and morale, and lead to incredible results. Sure, simply aiming to “do well” in whatever you do is a noble mindset, but when it comes down to the reality of directing a business, you need to put more concrete concepts of success in mind.

It’s a good idea to have a goal that is challenging but still attainable. In much the same way you wouldn’t go to the gym and immediately try to bench press 300lbs, you do not want to place the bar too highly in your business endeavors.

Think of goals as periodic stretches of your company’s ability, just as you would add weights slowly to a bar. These challenges will be engaging to those participating, while also expanding everyone’s abilities in the process. There’s no discovering the potential of a company without strategically pushing the limits.

Utilizing Latest Technology

 

They likely go over different technologies in business school, but the landscape of what’s possible changes every single day. Automation is a facet that can readily be applied to your business model to stellar results.

In the past, long despised duties like accounting or billing required valuable man hours. Fortunately, high quality AP automation software and inventory software are now options instead, which hold enormous potential for saving money, time, and stress.

Proper Etiquette

 

When people are churned out of school with an MBA, many times they are regarded as rude, condescending, or otherwise too casual. Be careful not to overestimate how much other people care about your MBA.

Business veterans will tell you there is a standard of manners and grooming which are unspoken yet entirely crucial. Being mindful of the importance of etiquette
can go a long way.

Be Grateful

 

Keep in mind that there are many people worse off than you, no matter how much a certain situation at work is bothering you. If you saw one of your peers get promoted, don’t be mad that it wasn’t you. Instead, look at the situation realistically and be honest with yourself. There was probably a perfectly feasible reason why that person got the promotion and you didn’t. Perhaps they were there longer, or emanate helpfulness in a way that you don’t. Instead of being mad, simply assess the situation and learn from it.

Patience

 

Nowadays, when people enter their first job, many times they convey a sense of entitlement, which is disconcerting to other people. Nobody likes a person that comes in to the office expecting everyone to owe them something, they do not.

You need to remember that even the highest ranking CEO’s once needed to earn their keep early on. Don’t assume that just because you graduated from school that the education ends there; learning is a lifelong process and it always will be.

 

 

Gil Artmoore has spent the past two decades working various roles in IT departments for many businesses, small and large. Recently, he started writing out the things he’s learned, experienced, and witnessed in the small business/tech world during his career. He is eager to share his insights with the rest of the world.

 

 

Three Types Of Insurance Every Entrepreneur Needs

 

Three Types Of Insurance Every Entrepreneur Needs

 

As an entrepreneur, you are probably used to dealing with uncertainty. Starting a new venture in an undefined market with an untested customer base is the epitome of uncertainty. Most may not know it as you do, but that is the very uncertainty that defines life. You may have also figured out as an entrepreneur that you must hedge your bets against potential loss. Picking the right insurance policy is very similar to picking the right venture. It means that you minimize the chances of irreparable loss if the unthinkable happens.

All too often entrepreneurs are dramatically slowed down by “black swan” events. Here, we will discuss the three types of insurance you will need as an entrepreneur to protect your ventures, your family and yourself.

 

 

Life Insurance

 

 

Two things are certain in this life: death and taxes. Now while we can manoeuvre taxes and perhaps hope they get lowered, death is of a permanence we cannot control.

Life insurance is a partial answer to the puzzle of death. As an entrepreneur, your family may depend on you as a breadwinner. As you are not employed formally, you may not have the luxury of company-sponsored insurance schemes. Taking up life insurance is therefore a must.

You may opt for either term life insurance or permanent life insurance. The former, as the name suggests, is for a period. Perhaps 20 years. After the term lapses, you get paid a lump sum. Permanent life insurance is only payable after you die. It is paid to those who survive you. In both cases, the money paid out goes a long way in covering funeral expenses, federal death (estate) taxes and creditors.

Do note one major factor. Depending on your type of entrepreneurship, it might be a smart idea to opt in for AD&D (accidental death and dismemberment insurance). The problem with life insurance is that it only pays out when you die.

Imagine you are in an accident and you survive but are left maimed and unable to work. If you died, your family would be well off – but you did not, so now you are at risk of transforming from the breadwinner to a financial burden. This is where AD&D comes in. According to Meetfabric.com, entrepreneurs who are involved with riskier businesses or hobbies such as extreme sports, driving, construction and a few others are the ones that would benefit most from AD&D.

The chances are you losing an eye-ball to your office stapler are pretty low, so AD&D is not for everyone. But if you are one of the more risk prone people out there, then it is an important option to consider.

In other words, when you walk out of life, your insurance walks in.

 

Auto Insurance

 

 

As an entrepreneur, chances are you own a car. Driving a car without auto insurance is illegal in most states. Therefore if you have no insurance, do not hesitate to visit a website like One Sure Insurance and consider getting a quote. Some states, however, only require third-party auto insurance. This covers only the damage to the other car and any harm to passengers in the other car. However, some states require you have comprehensive auto insurance. This covers both your vehicle and the other vehicle. This also includes occupants of both cars.

For an entrepreneur, this is unavoidable as you probably move around a lot. You also must manage your expenses as a costly accident could cripple your finances. Imagine having to pay for someone else’s car and whatever medical bills that other person concocts.

Auto insurance also applies to commercial vehicles. Again, this could either be third party cover or comprehensive cover. One thing to note is if you have third party auto insurance and your car gets totalled or stolen, the insurance company will not compensate you. That is why comprehensive auto insurance is highly recommended. Finding out what requirements your state has on auto insurance is the first step to getting the right auto insurance cover. It may also be helpful to visit the Auto Finance Online website if you need a financial hand with buying a new vehicle, such as a caravan.

 

Health Insurance

 

 

Finally, health insurance is a must for entrepreneurs. Entrepreneurship is a stressful field. There can be crushing amounts of uncertainty and unrelenting pressure as you build your business. In such a scenario, you do not want to fall ill and not have health insurance.

Health insurance allows you to walk into a hospital, receive treatment, and leave without paying a thing. The cover also allows for medical checkups. While most people get health insurance through their employer or their spouse/ partner’s employer, there are policies available for entrepreneurs.

These are often termed as self-employed health insurance covers. You can purchase these polices from most insurance companies that offer health insurance. The average cost as per a 2016 Department of Health and Human Services survey was $106 per month after subsidies. This gives a rough indication of how much it would cost you. Factors that will push this figure either up or down include copay arrangements, level of cover, inclusions and exclusions, among others.

While insurance often seems like an unnecessary expense, statistics bear it out: 100% of Americans will die; 100% of Americans will fall sick in their lifetime; 100% of Americans who drive will have at least a 1% risk of having an auto accident in their lifetime. With such statistics, it is easy to see why everyone needs these three types of insurance, and not only entrepreneurs.

 

 

 

For the last 22 years Brandi Zeledon has worked for major firms analyzing market data, interviewing world-class entrepreneurs, and studying global finance. With the massive demand for accurate, potent, and game changing information out there, she decided to start her Bulletproof Financing blog. By combining her passions for finance and writing, she has now found the perfect medium to continue her career.

 

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