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Success S av v y
A ccording to the U.S. Small
Business Administration, each
year more than 500,000 small
businesses close their doors, including
20,000 to 40,000 that are shuttered by
bankruptcy. Whether you’re building
a small business or are at the helm of
an established, successful enterprise,
you know that it can take everything
you have in terms of time and money
to survive the competition while also
turning a profit. However, allocating too much of your investment capital to
one company — even your own — is a risky proposition. Obviously, it would
be unwise to devote your entire retirement portfolio to a single investment,
but this is exactly what you are doing if you invest in your company to the
exclusion of all else. It’s natural to want to put everything toward the success
of your business. Your best bet is to meet with a qualified professional who
can help you evaluate potential investment opportunities and decide whether
now is a good time to begin building wealth outside your company.
M ike Simmons is President of Access Financial Group, Inc., on Brickell Ave.
The accuracy and completeness of this article are not guaranteed. You can
contact Mike Simmons at 305.428.3509 or AccessFinGroup.com.
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Q: I’m a 25-year-old professional in
public relations and marketing. Recently, my
supervisor has been taking me out to lunch
and hinting at the fact that there may be a
promotion in my horizon, despite the downturn
in the economy. I work for a small boutique
firm and I know that if I’m moved up, someone
higher-up will lose their job and I’ll take over.
My question is: Do you think this is a move that
means I will get paid less than the person I will
be replacing because I’m half their age with
half their experience? What do you think the
ramifications will be if I refuse the position?
I don’t want to get involved in office politics,
even though I think this would be a great move
for me career-wise.
A: In today’s financial crisis many companies
are downsizing, restructuring their business and
looking for ways to survive. It may be that your
supervisor sees a unique potential in you, it
may be the person they want to replace is not
producing enough. If you refuse the position
now, it may affect your job. Your production
and attitude is crucial in any economy.
Companies search for individuals who have
produced and reached company goals. Focus
on your job, get things done, and create new
ideas for your existing clients so they can refer
you to new prospects. If the firm goes under,
your years of expertise and optimism will get
you the next job. I trust that you will prosper
despite the economy. Good luck!
L isette N. Beraja is a
Licensed Marriage & Family
Therapist with more than 10
years of experience working
with families and young
professionals. To have your
question answered in a future
edition, email Editor@BrickellMag.com or
Lisette@Beraja.com. The 7 Habits
Author Stephen R. Covey teaches
you basic time-tested professional
skills you need to incorporate into
your professional and personal
life to make others take notice.
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