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women balancing on board

Achieve Balance

Does every transaction function or operate based on the premise that there is a requirement for give and take for the deal to be completed? Let’s say that you are in a social rather than a business relationship: Is there still a necessity for give and take for an agreement to be reached? Yes it is the case that every deal requires a negotiation resolved.

To be successful in your deal making transactions you need to prove that you have something to offer that is greater value, from your own perspective, than what you hope to gain from the person with whom you are striving to seal a deal. You need to be confident in your abilities to seem persuasive. If you do not completely and fully believe in your abilities and in the products and / or services that you are offering for sale or trade, then how can you expect a competitor to believe in your capabilities or the worth of your wares?

You are probably wondering why I used the term competitors to explain the partners in the deal making process. But is this not certainly the correct term? It is right. Everyone is ultimately competing in this world for goods, resources and services. During every transactional process each person is in stark competition to win at the game of life.

Realizing that every transaction has a requirement for a systemized pattern of give and take is essential to being a capable and contributing member of society. This sharing of value for value is crucial for relationships to work and to do so effectively with optimal efficiency. To believe otherwise is foolish and delusional.

Let us take personal relationships as an example of value for value sharing. You are dating or married and you are hosting a dinner for friends, with your partner. One of you has agreed to cook, in exchange for the other person having consented to be the designated cleaner of dishes, preparation and table areas. This is a transactional process, whether you choose to realize it or not.

Is the situation really that much different in the realm of commercial deals? Not really. In a seemingly friendly, but really aggressive way, business matters involve one person trying to get the better of the other. The value for value trade is not always equal, as may seem to be in person relationships. The determining factor for equality, or the lack thereof, in business deals is the intellectual intelligence or business savvy that one negotiator brings to the table – which is projected from a higher echelon of thought – versus the less experienced thinker. Are you the more or less capable deal maker? What value do you provide and what do expect for it?

 

 

 

people working on advising reports

Five Reasons For a Financial Advisor

 

  1. You need the expertise of a Financial Advisor to evaluate your financial situation. Knowing how much money you have for spending and for saving is crucial. Some of your money may already be allocated; but it can be converted into cash. While other investments could be invested for a set term. You could have a savings account that is not offering a competitive rate of interest. A Financial Advisor can help you to realize better options for investing your money; with a bank or other financial institution.
  2. Perhaps you could earn more interest on your money by investing it in mutual funds. Mutual funds provide the opportunity, to have your money professionally invested in a group of stocks; as part of an organized portfolio. Your money will be managed – by a licensed and fully trained – fund manager, who has accredited designations, from the Canadian Securities Institute. A Financial Advisor can guarantee that your money is assigned to a reputable Fund Manager. A Financial Advisor has been properly trained and received relevant certifications. A Financial Advisor has a wealth of experience and can maximize the potential of your portfolio.
  3. You need the expertise of a Financial Advisor, to determine if you have adequate insurance. Perhaps you have many insurance policies and are uncertain as to the full benefits of coverage. You may be paying too much money for the coverage provided. A Financial Advisor can review your policies, to ensure that you have relevant insurance coverage. Your insurance products should be tailored to your lifestyle and long term goals. Some policies can be redeemed for their full value if not used. A Financial Advisor can review your policies with you, to make sure that you will be able to receive the maximum benefits.
  1. A Financial Advisor can evaluate your mortgage insurance policy. You will need sufficient coverage to protect the balance of your mortgage. Do you know if your current coverage is sufficient? Do you know the benefits of having privately held insurance, to cover a mortgage balance? A Financial Advisor can provide you with options for mortgage insurance, which can cover you, regardless of your age, which may not be the situation with your current lender.
  1. Retirement planning is another arena where a Financial Advisor can provide reliable guidance. Will you have enough money to retire? Will you have to pay penalties or fees when you cash-out your Registered Retirement Savings Plan or Registered Retirement Income Fund? Do you know all of the details, on the benefits of government retirement benefits? Are you aware of the available options, such as; Canada Pension Plan, Canada Pension Plan Post-Retirement Benefit, Old Age Security, Guaranteed Income Supplement, Low Income Allowance, and International Benefits, if you worked in or lived in another country? A Financial Advisor can provide specialized advice. A Financial Advisor will make sure you are aware of various strategies for ensuring a stable retirement; as well as many other possibilities.

 

 

Return form for income tax

Rate of Return on Investment 

What is your return on your real property investment? You need to evaluate in more than plain dollars and cents. It is not only what you scoop in terms of profit in a real estate transaction in relation to your initial investment. Rather your calculation should encompass all relevant components of the deal.

Perhaps you spend time and effort to find and secure the right agent to list your home. The amount of time you allocated to negotiating your sale price and the agents’ commission is an investment of your time and energy, which you may not be able to reclaim in terms of actual money. Also, you may have needed to hire trades people to renovate and improve your property to bring it up to a saleable state. These monies also count as part of your financial commitment to your estate.

What about time and expertise you may have devoted to consultations with the person responsible for staging your home? Surely any fixtures you needed to buy to set the right stage for your home, as well as any decor upgrades have a quantifiable value that you should strive to recoup. Not to mention the time and effort you allocated to finding the right real property Lawyer, or for securing of the right title insurance.

There are many Lawyers who work in real property transactions, but not all of them are specialists who carry specialized title insurance. Some title insurance companies such as Title Plus may offer protection for unpaid utility bills, owing maintenance fees and debts related to partially purchased appliances. Some policies with some title insurance companies could offer insurance for a set time after move into a Resale Condo for originally purchased appliances. Other policies may offer coverage for repairs that need to continued or completed to due to irregularities in building permits.

Could you imagine buying a property that is on a road that to which you, as the new owner, do not have legitimate access. Or your may have bought a property that has a right of way that permits a neighboring property owner to drive across / through your driveway to access their home. Having a qualified Lawyer who specializes not only in real property deals, but also who is an expert in irregular land deals is a plus, when buying a home. Moreover, a unique or all encompassing title insurance policy is worth much more than what you may pay for coverage.

 

people collaborating about a business deal

Regardless of the actual languages spoken in a society the language of enterprise is unique. Colloquial speech is irrelevant for commerce. Every arena of business has its own dialect. Likewise, there is a language of business. 

Every realm of trade utilizes its own key terms and phrases for expediency. Is there a unique jargon for your area of financial development?

To be successful in any type of merchantry one must know the vernacular or shoptalk used in one’s business. The speech used in a business deal for a Real Estate Transaction will be different from the jargon used during an auction for property. Also, terminology and presentation requirements will be different during the acquisition and / or merger of a company. Knowing the trade terms for the industry in which your deal is taking place will certainly give you an added edger over other parties to the meeting who do not know the norms of language or behavior. 

Being hip to the verve is essential for flourishing in one’s work. One must be aware of how to speak, when to do so at at what volume or inflection of speech. Avoiding repetitive phrases is most helpful to sounding professional. 

When working in any career area it is essential that one be conversant in the lingo, slang, jargon and specific terms, which are the tools of trade. Also, one should know the acronyms and abbreviations for regularly used phrases. 

Without a full understanding of the language and phraseology of a market sector one cannot fully immerse oneself as a member of the industry. If one is not completely fluent in the language of one’s business, then one will be a great disadvantage during meetings – prime time for financial negotiation. 

So before your first day on the job in a new career field, prepare for work by:

– Buying a good and current pocket dictionary.

– Buy a handbook of industry terms. 

– Read up on your trade in the newspaper and relevant publications; such as journals, magazines, or periodicals. 

– Research the company where you will be working on the internet, as well as major competitors. 

– Speak with as many colleagues as possible about the main terms and phrases that they use in their work. 

– Know everything about major advancements in your industry.

– Dress professionally according the industry standard and wear your clothing in a way that suits you.

– Being affiliated with top performers in your industry is essential for success.

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