In this episode we talk about the importance of resilience in business success. As entrepreneurs we experience both highs and lows in our business be sure to listen to this episode for tips and real life examples to help increase your resilience particularly in the face of online challenges like identity theft and cyber hacking.
Crisis Resilience Strategies for Business
During a crisis, business resilience is important, you must be willing to adapt and maintain confidence. You can pivot from selling financial services to doing offline consulting, training online and offline.
Managing the reputation of your business in crisis situations is a must! Public relations with help from a publicist can do wonders. However, doing it yourself through self-education from books and courses is an alternative for those who cannot afford professional assistance.
Cybersecurity for Solopreneurs and Small Businesses
On average it costs a small business $15,000 when they experience a breach, and causes most small businesses to go out of business.It is crucial for small business owners to implement cybersecurity, especially if you're a solopreneur. Regularly doing antivirus scans, having firewalls, and purchasing a small business owners policy (BOP). A small business owners policy has a minimum coverage amount of $15,000 for cybersecurity.
Implementing multi-factor authentication for online accounts (email, social media, etc...), and maintaining a backup phone that is used for security purposes only. Also, monitor your credit reports, social security statements, and business addresses for any signs of fraud.You need for an emergency plan in case of an online or offline business crisis. Automating parts of your business or finding assistance to help maintain consistency, as well as actively doing offline marketing and networking. By combining your online and offline efforts, it can lead to business growth and accelerate the restoration of your business's reputation.
Building Resilience
The speaker discussed resilience in business and personal life, emphasizing the importance of self-belief, strategic planning, and adaptability. They shared personal experiences and examples of successful businesses that overcame crises, highlighting the need to study and learn from others' success stories. The speaker stressed that resilience involves consistent effort, even when progress seems slow, and encouraged listeners to draw on their past experiences to overcome challenges.
To register for "Business Success & Sales Essentials Bootcamp" on August 29th, 2025, go to www.Tashaya.com
The "Business Succession & Sales Essentials Bootcamp" will help small business owners plan for transition, scale, and build business value for potential sale.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group.
#tashayasinlgeton #business #success #womeninbusiness #thesecretsofearningmoneyshow
Happy Black Business Month! We are celebrating and highlighting positive growth trends in Black-owned businesses and discussing strategies for successful business partnerships, emphasizing the need for clear contracts, shared values, and consistent effort in entrepreneurship.
Our host, Tashaya Singleton, is hosting an upcoming virtual Business Succession and Sales Boot Camp on August 23rd., go to www.tashaya.com for the details.
There has been positive growth in Black employer firms, noting an increase to 134,567 firms with total sales of $133 billion. Black businesses are primarily in the healthcare and social assistance sector.
Many businesses are started through bootstrapping, and because of limited funding there is an importance for collaboration between complementary businesses. Joint efforts can reduce marketing costs and increase reach. They help business owners to create databases of referral partners and organize joint events for cross-promotion.
Shared values, written contracts, clear terms and conditions, and a joint marketing plan help to minimize conflicts and ensure successful collaborations.
Commitment and consistency is important in entrepreneurship, because while passion is crucial, maintaining consistent effort, even if small, is key to long-term success. There is also a need for business partners to align on commitment levels and manage finances carefully, because generating high revenue does not guarantee profitability without proper expense control and cash flow management.
Building a strong advisory team is important for small business owners. That team should include bankers, accountants, and legal professionals, to navigate future crises and access government assistance programs.
For inspiration this month, read "Succeeding Against The Odds" the autobiography of John H. Johnson, founder of Ebony and Jet magazines, as an inspiring example of perseverance and success despite facing significant challenges.
#tashayasingleton #thesecretsoearningmoneyshow #podcast #blackbusinessmonth #blackbusiness #businesssuccess
This is National Women's Small Business Owner Month, and we're celebrating all month long. In today's episode our host shares business etiquette to help you get a better return on the time you invest this holiday business networking season. Listen to this episode to make an excellent professional impression and meaningful connections at networking events and parties.
Attending networking events and company holiday parties can present good opportunities to build connections and leave a lasting positive impression, when approached with the right etiquette. Whether you're mingling with colleagues or meeting new industry contacts, here are essential tips to help you project professionalism and make the most of these events.
Projecting a professional image is not just about looking good on the outside. Yes, dressing appropriately for the occasion and venue are a must, but carrying yourself with confidence, being respectful, as well as knowledgeable about your profession are also a key part of projecting a winning professional image.
Being strategic when it comes to business networking can help you get the return on the investment of your time, that you desire, from the networking event. Being strategic means setting clear goals, researching the event, preparing and practicing your introduction (elevator pitch), as well as socializing outside your usual circle so you can learn about new opportunities and make valuable new contacts. Also remember to bring traditional business cards with you to hand out. Following these tips will help you demonstrate excellent business etiquette and position you as a professional worth knowing. So, remember whether you are attending a formal networking event or a casual holiday party, being strategic, engaging and respectful will ensure you leave a lasting, positive professional impression which will help in maximizing your future business opportunities.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would like our host, Tashaya Singleton, to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#thesecretsofearningmoneyshow #tashayasingleton #networking #business #success #womeninbusiness
Happy Women's Business Owner Month! As we continue celebrating, today's episode about how mentorship can increase business success. Listen to this episode to tips on effective mentorship. In the world of business, mentorship has shown to be a game-changer for people looking to advance their careers and thrive in business. However, despite its benefits, approximately 37% of women professionals have a mentor. This lack of guidance can leave many feeling unsupported and overwhelmed by the challenges they face in the workplace. Without mentorship, women are more likely to experience burnout and may not fully nurture their growth.
Mentorship provides much needed support by offering encouragement, constructive feedback, and actionable guidance to help women navigate obstacles and achieve their goals. Whether it’s dealing with workplace dynamics, learning new skills, or overcoming industry-specific challenges, having a mentor provides a trusted resource to turn to.
Mentors are effective in helping women develop key leadership skills, boost their self-confidence, and take on new challenges with a sense of direction and purpose.
The majority—69%—of women prefer to have for having woman mentor. This is probably because women mentors often have more understanding of the unique challenges women face in male-dominated industries, allowing them to offer more relatable advice and support.
There are 3 common types of mentorship - formal programs, informal relationships, and peer-to-peer mentoring. Each type provides valuable benefits. Formal mentoring is often structured through the workplace or a professional organization, while informal and peer-to-peer mentoring usually develop naturally through networking or shared professional interests.
For women business owners, mentorship can be especially powerful because it improves industry and business knowledge, but it also helps them stay accountable to their goals and uncover blind spots they might not otherwise see. Effective mentors can help their mentees stay focused, push past obstacles, and gain the insights needed to drive their career or business forward.
Mentorship can, ultimately, transform a woman’s career, business and life by offering the clarity, confidence, and community support to succeed. Whether you’re a rising professional or a business leader, having a mentor is an essential resource for growth, resilience, and achieving your full potential.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would like our host, Tashaya Singleton, to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com #podcast #thesecretsofearningmoneyshow #tashayasingleton #mentoring #success #business
Happy Women's Small Business Owner Month! In today's episode we are talking about how Life Insurance Can Help Small Business Retain Talent and Create Your Succession Plan. Listen to this episode for tips on ways your can use Life Insurance to fuel long-term business success as a Small Business Owner.
Retaining key employees and planning for succession are essential to long-term business success. The strategic use of Life Insurance can help protect your business, ensure continuity, and create loyalty among your team.
Keyman Life Insurance is designed to protect your business if a key employee, such as an executive or top sales representative, is no longer able to work due to death or disability. The business owns the life insurance policy, pays the premiums, and is the beneficiary. If the key employee passes away, the insurance payout helps cover financial losses, giving the business the resources to recover or find a replacement. Offering Keyman Life Insurance can not only protect your operations, but it also shows employees that they are highly valued, which can help strengthen loyalty.
A Buy-sell Agreement can be funded by Keyman Insurance to ensure that if a business owner retires or passes away, the remaining partners can buy out their share, keeping the business going. This type of agreement protects both the business and the family of the retiring or deceased owner. There are various methods for funding a Buy-sell Agreement with a key employee which could include salary increases, personal loans, or a split-dollar plan where costs are shared between the business and the employee.
A deferred compensation plan acts like a pension for key employees, offering incentives for staying until retirement. The company owns the policy and provides retirement income, often through an annuity. Additional benefits like continued health insurance can further solidify employee loyalty and retention.
By using Keyman Life Insurance, Buy-sell Agreements, and deferred compensation plans, small businesses can protect their operations, create a secure future, and reward key employees while also building a sense of loyalty and commitment.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would our host, Tashaya Singleton, to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#podcast #thesecretsofearningmoneyshow #tashayasingleton #blackbusiness #womeninbusiness #keymaninsurance #lifeinsurance #businesslifeinsurance #business
As Self-Improvement Month comes to a close, in this episode we are talking about how positive thinking can improve your chances for business success. Be sure to listen to this episode for tips to keep you motived and on creating a positive mindset for business.
Positive thinking is more than staying upbeat—it’s about intentionally focusing on solutions rather than problems, and seeing opportunities where others see don’t. This mindset shift can have a dramatic impact on your business, influencing every business decision you make, ultimately laying the foundation for long-term growth and success.
As entrepreneurs and business owners, we are under constant pressure. There are always problems to solve, everything from handling financial challenges to managing operations and leading our team. A positive mindset can help you see these challenges as temporary and solvable, instead of overwhelming. If you believe that there is a solution, even if you don’t have it now, then you’re more likely to find the solution. Research has shown that positive thinking can reduce stress and improves clarity, which helps us make better decisions under pressure. It also increases resilience and persistence, which is crucial for pushing through the setbacks we encounter in business. When you have positive outlook, you’re more likely to approach challenges with creativity, rather than just feeling defeated and stuck.
How Positive Thinking Can Transform Your Business
1. Improves Problem-Solving
2. Boosts Productivity
3. Improves Leadership and Relationships
Ask yourself, is your mindset helping you or holding you back? Take some time, alone, and think about your answer. Then make notes on things that you can change right now to help you move towards a more positive mindset, so you can improve your business and personal success.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would to assist our host, Tashaya Singleton, to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#podcast #thesecretsofearningmoneyshow #tashayasingleton #selfimprovementmonth #selfimprovement #positivethinking #blackbusiness #womeninbusiness
This is Life Insurance Awareness Month and in today's episode we are talking about Life Insurance and planning for a Special Needs loved ones. Listen to this episode to avoid costly mistakes, make informed choices and a better understanding this complex issue to ensure the financial future of your loved one when you are no longer here.
Planning for the future care of a loved one with special needs is both a challenging and vital responsibility. Life insurance can play a crucial role in ensuring their long-term financial security, but there are important considerations to keep in mind. Can they qualify for life insurance? How much coverage should you purchase? And most importantly, will it affect their eligibility for government benefits? Here’s what you need to know.
Yes, individuals with special needs can get life insurance, but the type and amount of coverage will depend on various factors like their health, age, and the severity of their disability.
If they qualify, they may be able to obtain a traditional life insurance policy—just like anyone else. However, if their medical condition or disability prevents them from qualifying for traditional coverage, there are alternative options available, such as:
- Final Expense/Burial Insurance
- Simplified or Guaranteed Issue Insurance that don’t require a medical exam
Will Life Insurance Affect Their Government Benefits?
Government benefits like Medicaid and Supplemental Security Income (SSI) have strict eligibility limits—individuals cannot hold more than $2,000 in assets to qualify. Without proper planning, receiving life insurance proceeds could push them over that limit and jeopardize their benefits.
Setting up a Special Needs Trust is one key solution. A Special Needs Trust can hold life insurance payouts and other assets in a way that does not disqualify your loved one from receiving government assistance. With the right structure, the trust can pay for important expenses.
How Much Life Insurance Can I Purchase on My Loved One?
The amount of life insurance coverage you can buy will depend on whether your loved one qualifies for a traditional policy or requires alternative coverage. For traditional policies, the coverage amount can be as high as that offered to anyone else, based on their health, age, and the nature of their disability. For simplified or guaranteed issue policies, the coverage amounts are typically lower.
How Much Life Insurance Should I Buy?
The right amount of coverage depends on several factors, including the expected needs of your loved one and your financial situation. Some critical areas to consider include:
- Affordability
- Medical Care Costs
- Living Expenses
- Caregiver Compensation
- Emergency Fund
Using a Special Needs Trust to Protect Benefits
The trust allows for life insurance proceeds and other assets to be managed by a trustee who ensures that distributions are made for the benefit of the person with special needs, without jeopardizing their eligibility for government programs. The trust can cover expenses not typically paid by government programs.
Life insurance is a common way to fund a Special Needs Trust, using either term or whole life policies.
Special needs planning, particularly when it involves life insurance, is complex and requires the expertise of several professionals. A team of specialists—financial planners, insurance professionals, estate planning attorneys, and tax advisers—is essential for developing a comprehensive plan to safeguard your loved one’s future.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#podcast #thesecretsofearningmoneyshow #tashayasingleton #lifeinsurance #lifeinsuranceawarenessmonth #specialneedsplanning
Happy Self-Improvement Month! In this episode we will be talking about Self-Improvement, what it is, why it's important and the reasons for doing in it and not doing it. Be sure to listen to this episode to tips to help you say "This was a good year" on December 31st.
Self-improvement is the enhancement of one's knowledge or character through their own effort. As the year draws to a close, many people start evaluating their life choices, business, and finances. Some want a complete life makeover while others only want to improve one of two areas. And there is no better time than now to decide what you want to improve in your life.
As we approach the end of the year, this is a natural time for reflection, and it’s important to decide what you want to improve. Consider focusing on one of the four core areas: physical health, mental strength, spiritual well-being, and financial stability.
Take some time to sit alone and assess where you are in each of these four areas, then identify which area you want to focus on improving. But remember, the key to lasting self-improvement is having a genuine desire and a clear reason for change. Your reason should align with your personal values and vision for a more meaningful life. Because if your change is driven by the pressure of others, they most likely will not stick. So instead, focus on the goals and purpose that are important to you and self-improvement will become a natural step toward creating the life, business and legacy you desire.
If you're read to start making a change right away, then consider starting small with a three-day challenge today. Choose one area to focus on, whether it’s improving your diet, practicing mindfulness, or creating a financial plan.
While a three-day challenge may be short, the goal is to start laying the foundation to create lasting habits that will enhance your life in the long term. Remember, true self-improvement requires consistent effort and a clear vision of where you want to go. With commitment, on December 31st you can say "This was a good year" while embarking on more fulfilling chapter in your life.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#selfimprovement #success #vision #tashayasingleton #thesecretsofearningmoneyshow #podcast
Happy Life Insurance Awareness Month! In today's The #1 question people ask about Life Insurance is "How much do I need?". Some people think the answer to this question should be simple, however the answer is more complex than they know. Listen to this episode as we talk about the answer to this frequently asked question.
How Much Life Insurance Do You Need? A Guide to Ensuring Your Family's Future
When it comes to financial security, one of the most asked questions is: "How much life insurance do I need?" Life insurance is more than a safety net, it is the foundation for a solid financial and estate plan that helps you and your loved ones maintain the quality of life, that you have come to know and enjoy, if something catastrophic like death or disability happens.
Assessing Your Needs
The right amount of life insurance is unique to each individual and depends on your financial goals and objectives. Start by considering the expenses your family may face:
Building a Comprehensive Plan
Life insurance is a critical part of a good financial plan. A catastrophic event like death or disability can derail even the best financial plan. That’s why it’s essential to have a team of advisors—including a lawyer, investment advisor, insurance professional, and accountant—working together to create a plan that fits your unique needs.
Ultimately, the amount of life insurance you need will depend on your financial goals and the legacy you wish to leave behind. Protecting your loved ones starts with making informed decisions today.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#podcast #thesecretsofearningmoneyshow #tashayasingleton #lifeinsuranceawarenessmonth #lifeinsurance #financialwellness #financialliteracy
This is Black Business Month, and we are celebrating all month long, in this episode we talk about the benefits of buying a franchise to achieve business success. Listen to this episode to learn why a franchise could be a better pathway to business success. In the competitive landscape of business ownership, Black entrepreneurs face unique challenges that can make success elusive. Marketing, sales, hiring quality staff, securing funding, and keeping up with technology are just a few hurdles that all businesses face. However, the stakes are even higher for Black-owned businesses. According to the U.S. Bureau of Labor Statistics, nearly 50% of all businesses fail within the first five years. Yet, franchises present a compelling alternative, with a failure rate of just 10%. Moreover, Black-owned franchisees generate twice the revenue of independent Black-owned businesses, making franchising a promising avenue for sustainable success.
Many prospective business owners overlook franchising as a viable option, often associating it with the steep costs of owning a McDonald's or another high-profile chain. However, not all franchises require a million-dollar investment. In fact, there are numerous low-cost franchises available for under $15,000. For those who take this path, the financial rewards can be substantial—the average income for a franchise owner can reach $130,000 within two to ten years of operation.
Currently, Black-owned businesses account for approximately 11% of all businesses in the U.S., yet only 3% of these have employees, according to the SBA Office of Advocacy. Franchising could be a game-changer for Black entrepreneurs, offering the benefits of brand recognition, an established customer base, comprehensive training, and a detailed blueprint for success—all elements that increase the odds of business longevity.
For Black business owners considering franchising, here are some essential tips:
1. Evaluate your interests, skills, and budget to find the right franchise.
2. Utilize free and low-cost resources from organizations like the SBDC, WBC, SBSD, MBDA, SCORE, and your local Economic Development Department.
3. Attend both in-person and virtual franchise events to network and gather information.
4. Establish a relationship with your banker before purchasing the franchise to ensure financial readiness.
By exploring franchising, Black entrepreneurs can leverage proven systems and support networks, significantly increasing their chances of long-term success in the business world.
If you're think about buying a franchise then you'll want click here to get the FREE franchise checklist created by our host.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#podcast #thesecretsofearningmoneyshow #tashayasingleton #blackbusiness #business #success #bipocbusiness #franchising
In this episode we will be talking about the power and important of having a vision for our life. Listen to this episode to learn the difference between having a dream and a vision for your life, as well as tips on how to get started on creating a personalized vision.
During times of reflection, it’s essential to distinguish between dreaming about the life we want and actively creating it. Dreams, by definition, are cherished aspirations—ambitions or ideals that often float in the realm of possibility but lack concrete plans or timelines. In contrast, a vision is much more than a dream; it’s a personalized roadmap to achieving the life you desire. While dreams make us feel good, visions transform those feelings into actionable plans.
As highlighted in this podcast episode, and Issue No. 5 of the Women Books and Business Newsletter, a vision is the ability to plan for the future. It’s what bridges the gap between dreaming and doing. A vision is your personalized roadmap which includes setting goals and milestones that keep you on track, ensuring that your dreams aren’t just fantasies but become attainable realities. It is by having a clear vision and implementing it that you can make your dreams come true.
Having a vision is the key to taking control of your personal economy and life, enabling you to achieve the financial security and personal fulfillment you deserve. Whether you’re just starting out in life or looking to redefine your future, now is the best time to create a vision, so the rest of your life can become the best of your life.
Here are four questions to help you get started with creating your personalized vision:
By thoughtfully answering these questions, you’ll be on your way to turning your dreams into a structured, actionable vision, that will empower you to create the life you truly desire and deserve.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group If you would like our host to assist you with your business, insurance or financial goals send an email to info@tjsfinancialsolutions.com or visit www.clickTJS.com
#podcast #thesecretsofearningmoneyshow #tashayasingleton #motivation #success #inspiration #womenbooksandbusiness
This is Black Business Month and we are celebrating all month long. In this episode we talk about Black Women-owned businesses and a pathway to long-term business success.
Black women are emerging as a formidable force in the entrepreneurial world, accounting for 42% of new women-owned businesses in the United States. This remarkable growth positions Black women as the fastest-growing group of business owners. Despite their impressive educational background—approximately 75% hold a college degree—only 3% of these businesses survive beyond five years. Understanding the challenges they face and the strategies to overcome them is crucial for fostering long-term success.
Many Black women entrepreneurs are driven by financial necessity, the underutilization of their skills in the workplace, and the desire for freedom. These motivations often lead to the establishment of part-time businesses, run alongside full-time jobs, as noted in a report from the Federal Reserve Bank of Kansas City. However, the journey is not without its hurdles. Funding remains a significant challenge, with up to 95% of Black women-owned businesses relying on personal savings. This financial constraint often limits their growth, keeping many businesses small or micro.
Black women in business are not seeking handouts—they are seeking a fair opportunity to compete. With access to the right networks, mentors, and resources, Black women can continue to break barriers, not just for themselves, but for their communities and future generations. Success is achievable, but it requires commitment, support, and a level playing field.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#podcast #thesecretsofearningmoneyshow #tashayasingleton #blackbusiness #bipocbusiness #womeninbusiness
Today we are talking about the 4-Essentials of Leadership. Be sure to listen to this episode to get tips to help you elevate your leadership skills.
Many people associate leadership with holding a title or being in a position of authority, but true leadership is far more profound. Leadership is about character, influence, and the ability to inspire and guide others toward a shared vision. Whether in business or in life, strong leadership skills are essential for long-term success. To truly elevate your leadership and make a meaningful impact, there are four key strategies that every effective leader must embrace:
Leadership is not a destination—it’s a continuous journey of growth and self-improvement. Confidence, communication, trust, and life-long learning are not just strategies but lifetime commitments that help leaders navigate the complexities of both business and life. By embracing these four essentials, you’ll not only become a more effective leader but also make a lasting impact on those around you, driving success for yourself, your team, and your organization. To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#podcast #thesecretsofearningmoneyshow #tashayasingleton #blackbusiness #bipocbusiness #womeninbusiness #leadership #success
Have you ever thought about what would happen to your business if you were sick or injured? How long could your business last? What would be the impact on you and your family’s quality of life? Without a solid business protection plan, you and your family’s financial security could be at risk.
In the event of a disability, having Disability or Worker's Compensation Insurance is crucial for ensuring that you still have a source of income. For example, a roofer who becomes injured and can no longer work would face not only the loss of income but also the ongoing business expenses.
Business Overhead Insurance can cover your business’s regular expenses, like rent, utilities, and payroll. However, it does not provide for the personal income for the business owner.
Life insurance is another essential part of family and business protection. You can add the disability income and long-term care (LTC) insurance options to your policy, to help manage the cost of insurance.
You can also safeguard the future of your business after retirement, disability, or death, with a Buy-Sell Agreement. This when a partner or friendly competitor buys out your share of the business, and your family is paid either in cash or in cash plus royalties. To protect your family from the stress of trying to run or sell a business they might not be prepared for.
If selling your business is your retirement plan, that could leave your business in limbo without a solid plan. Do you have a family member ready to take over, or to sell your business to? Because unfortunately only 15% of businesses make it to the third generation. Selling your business to a trusted employee can save your family from difficult decisions and division, while also maintaining the quality of life you’ve worked so hard for.
A successful business protection plan also requires a solid team of professionals, often called your BAIL Team:
Without a proper estate plan, your assets may be lost to probate or family disputes. With the right documents in place, your wealth will be distributed according to your wishes, protecting both your family and your legacy. This also ensures that your business and personal assets go to the individuals or charities you designate.
Finally, business protection planning is intertwined with financial wellness. A strong financial foundation includes saving, investing, smart tax planning, and careful management of both business and personal expenses. By doing so, you can ensure the longevity of your business while also maintaining your quality of life in retirement and providing for your family's future financial security.
Proper planning is the key for maintaining the business and life you’ve built. It protects both your family’s and your own quality of life, allowing you to leave a legacy you’ve worked hard to create. With a well-constructed business protection plan, you can be sure your business will continue to thrive in the event of retirement, disability, or death, providing security for the future and peace of mind in the present.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would to assist you with your business, insurance or financial goals, send an email to info@tjsfinancialsolutions.com or visit her website www.tjsfinancialsolutions.com
#businessprotectionplan #secretsofearningmoneyshow #tashayasingleton #lifeinsurance #lifeinsuranceawarenessmonth
Life insurance is like a safety net for your family's future. But for many in the Black community, there's a mix of good news and challenges when it comes to life insurance.
Did you know that more than half of Black Americans have life insurance? That's a step in the right direction. But here's the thing: about a third of them don't have enough coverage. That means if something happens, their families might struggle financially.
It's not just about the present, either. Many Black folks wish they'd bought life insurance when they were younger. They understand the importance of being prepared for the unexpected.
One of the big reasons people get life insurance is to cover funeral expenses. Funerals can be expensive, costing anywhere from $3,000 to $15,000. And no matter your age, the cost stays the same. So, it's crucial to have enough coverage to handle these expenses.
But life insurance does more than just cover funerals. It helps your family keep their quality of life if something happens to you. It can replace lost income and ease financial stress during a tough time. And for parents, it can give them the flexibility to focus on their kids' emotional needs after a loss.
Now, you might hear people arguing about which type of life insurance is best—term or whole life. But honestly, it depends on your situation. The most important thing is to have a policy that pays out when your family needs it.
That's why it's essential to talk to an insurance pro who understands your needs. They can help you figure out the best plan for you and your family. And remember, building a solid financial team—including a banker, accountant, and lawyer—can give you extra support and peace of mind.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would like our host to assist you with your business, insurance or financial goals send an email to info@tjsfinancialsolutions.com or visit the website www.clicktjs.com.
#podcast #secretsofearningmoneyshow #tashayasingleton #LIAM2024 #lifeinsuranceawarenessmonth #black #lifeinsurance #family
As February, the month of love, unfolds, it's not just matters of the heart that deserve your attention, financial wellness is also a vital expression of self-love and care. Financial Wellness is the ability to live well now and in the future. Achieving financial wellness requires a conscious effort and strategic planning.
1. Essential Steps to Achieve Financial Wellness
The journey towards financial wellness begins with self-awareness. Identify your current financial standing by meticulously assessing your income sources, be it from business ventures, employment, or investments, and juxtaposing them against your expenses. This introspection unveils whether you're in a positive, neutral, or negative financial position.
2. Creating Your Plan for Financial Wellness
Armed with this knowledge, develop a plan tailored to your unique circumstances. Determine if adjustments are needed in your expenses, income, or both, and commit to taking actionable steps towards financial wellness. Seek guidance from a financial professional if needed, make sure they speak your language and offer a plan that resonates with your goals and values.
3. The Impact of Financial Wellness on Overall Well-being
Beyond monetary concerns, financial wellness can impact various parts of your life, influencing personal and professional relationships, as well as physical and mental health. Financial stress is a silent assailant, contributing to ailments like high blood pressure, anxiety, depression, and diabetes type 2. By becoming financially well, individuals can secure their financial future and also safeguard their health and improve their overall quality of life.
In the journey we call life, financial wellness is a thread that weaves through every aspect of it, shaping our present and future. By prioritizing self-love through financial wellness, individuals develop resilience, create stability, and holistic well-being, ensuring that their journey towards prosperity is marked by empowerment and fulfillment.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would like our host to assist you with your business, insurance or financial goals send an email to info@tjsfinancialsolutions.com or visit the website www.clicktjs.com.
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As Life Insurance Awareness Month unfolds, entrepreneurs are reminded of the critical role life insurance plays in safeguarding their businesses and securing their financial futures. From protecting partnerships to ensuring continuity in the face of adversity, various life insurance policies cater specifically to the needs of business owners.
1. Buy Sell Insurance
- Crucial for partnerships, buy sell insurance ensures a smooth transition in the event of a partner's death or departure. In scenarios where ownership splits are unequal, buy sell insurance prevents disruptions by facilitating a fair transfer of ownership and preserving the business's integrity.
2. Business Overhead Insurance
- This policy keeps the business afloat during the owner's illness or injury, covering essential expenses to maintain operations. While it doesn't replace the owner's income, it provides vital support to keep the business running smoothly and allows for tax deductions.
3. **Keyman Insurance:**
- Keyman insurance safeguards the business's income if a key individual, such as the owner, becomes unable to work due to injury, illness, or death. It can also fund a buy sell agreement in the absence of a partner, ensuring the business's continued viability.
4. Business Loan Life Insurance
- Essential for entrepreneurs seeking funding, business loan life insurance secures financial obligations in the event of the entrepreneur's incapacity or demise. It shields both the business and the owner's family from potential financial burdens.
These policies serve as lifelines for entrepreneurs, offering peace of mind and financial security in times of uncertainty. Whether navigating partnerships, sustaining operations during personal crises, or seizing new opportunities, life insurance provides a safety net for businesses and their stakeholders.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would like our host to assist you with your business, insurance or financial goals send an email to info@tjsfinancialsolutions.com or visit the website www.clicktjs.com.
#businesslifeinsurance #LIAM2024 #lifeinsurance #tashayasingleton #secretsofearningmoneyshow #podcast #lifeinsuranceawarenessmonth
In this journey we call entrepreneurship, success is often attributed to a combination of mindset, motivation, and action. Believing in oneself, staying motivated, and consistently taking steps towards goals are hailed as the top three keys to entrepreneurial triumph. However, amidst the hustle and grind, there’s an issue that lies beneath the surface: low self-esteem.
Statistics reveal a staggering reality—approximately 85% of people worldwide grapple with low self-esteem, according to Psychology Today magazine. In recent times, conversations about "Imposter Syndrome" have spread throughout every corner. Yet, knowing the difference between imposter syndrome and low self-esteem is essential.
Imposter syndrome manifests as doubt, negative self-talk, self-sabotage, and an inability to own one's accomplishments. Conversely, low self-esteem is characterized by a lack of confidence, focus on failures, withdrawal, and sensitivity to criticism. While there are similarities between the two, they are not the same.
Overcoming both imposter syndrome and low self-esteem requires deliberate efforts in self-care and accumulating quick wins. Entrepreneurs must develop traits such as decisiveness, self-awareness, resilience, and confidence. Self-care practices—adequate sleep, balanced nutrition, and regular exercise—play a pivotal role in maintaining mental and emotional well-being.
Equally crucial is creating a supportive environment. Surrounding yourself with a positive social support network and consuming uplifting and motivational content—whether through reading, watching, or listening—can increase confidence and foster a growth mindset.
In the journey towards entrepreneurial success, self-love emerges as a cornerstone. By nurturing belief in oneself, staying motivated, and taking action, entrepreneurs can overcome obstacles, embrace failure as a steppingstone, and ultimately realize their dreams. As the adage goes, success begins with loving oneself.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would like our host to assist you with your business, insurance or financial goals send an email to info@tjsfinancialsolutions.com or visit the website www.clicktjs.com.
#selflove #success #entrepreneurship #tashayasingleton #secretsofearningmoneyshow
As Life Insurance Awareness Month unfolds, it's crucial to delve into the significance of safeguarding your loved ones' future through comprehensive life insurance coverage. Beyond the conventional notion of financial protection, life insurance serves as a cornerstone for securing your family's well-being and sustaining your own financial stability.
Family is at the heart of life insurance considerations. For those with parents, siblings with disabilities, spouses, or children, having adequate life insurance ensures that their financial needs are met in the event of your absence. While insurance cannot replace your presence, it can replace your income, allowing your family to maintain the same quality of life they enjoyed when you were there to care for them.
Moreover, life insurance extends its protective reach beyond immediate needs, offering valuable support for retirement planning. Cash value policies like whole life insurance can serve as a supplementary source of income during retirement, providing a safety net for unforeseen expenses or enhancing your financial security during your golden years.
In addition to basic coverage, optional add-ons such as Long-Term Care and Disability Insurance play a pivotal role in comprehensive life insurance policies. These living benefits offer financial assistance in the event of illness or injury, ensuring that you receive the necessary care and support without depleting your savings. Crucially, these benefits are not exclusive to older individuals; they provide invaluable protection for individuals of all ages, especially those engaged in high-risk activities such as sports or extreme sports.
It's essential to understand the nuances of these optional coverages, as they may incur additional fees depending on the insurance provider. However, the peace of mind and financial security they offer make them indispensable components of a well-rounded life insurance policy.
As Life Insurance Awareness Month encourages reflection on the importance of financial protection, ensuring your love through comprehensive life insurance coverage emerges as a vital step towards securing your family's future and preserving your own financial well-being.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would like our host to assist you with your business, insurance or financial goals send an email to info@tjsfinancialsolutions.com or visit the website www.clicktjs.com.
#LIAM #LIAM2024 #lifeinsurance #family #insurance #tashayasingleton #secretsofearningmoneyshow
In this episode we talk about the 4 Steps to Financial Security. Be sure to listen to this episode to learn the 4 simple, but not easy, steps you can use to help you create the financial security you desire and deserve. On the journey to financial security, a roadmap is essential. It will be your from your current financial state to your ultimate destination of financial security. Here's a four-step guide to navigating your journey to financial security:
Step 1: Know where you are financially. Take stock of all your income and expenses. This is your crucial starting point, for plotting your course for journey to financial security.
Step 2: Determine your financial priorities. What matters most to you? Is it paying off debt, saving for retirement, or investing in your children's education? These financial priorities will be the milestones you will set, and achieve, along your financial security journey.
Step 3: Create a financial plan. With your financial priorities in mind, outline actionable steps, timelines, and your milestones for your journey.
Step 4: Regularly review and adjust your plan. Life is always changing, and with that your financial circumstances will change along with them. Regularly reassess your plan, and make adjustments as needed to keep you on course towards financial security.
Achieving financial security is different for everyone. For some, it may entail better money management practices, such as creating a budget and cutting back on expenses. For others it may be exploring ways to increase their income while implementing a simple money management system.
Ultimately, the journey to financial security is more about progress than perfection. Taking proactive steps to managing money effectively, setting clear priorities, and regularly reassessing your plan, you can chart a course towards financial security.
To connect with our host, Tashaya Singleton, send an email to TashayaSingleton@gmail.com or join The Secrets of Earning Money Show Facebook Group. If you would like our host, Tashaya Singleton, to assist you with your business, insurance or financial goals send and email to info@tjsfinancialsolutions.com or visit the website www.clicktjs.com.
