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Entrepreneurs are smart, savvy people. Hard working, industrious, creative, and the kind of crew who would take a financial windfall (like the one we are offering you below) and make it work for them, unlike, let’s say, some numbskull lottery winners….

 

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  • In the mid-80’s Evelyn Adams won the lottery not just once, but twice. So, did she invest her $5.4 million in real estate or buy a business? Did she save it? No and no. Ms. Adams hightailed it to Atlantic City and promptly gambled it all away. Today she lives in a trailer park.

 

  • Denise Rossi won the $1.3 million California Lotto and promptly filed for divorce . . . except she never disclosed the lottery winnings in the divorce proceedings. Two years later, divorce completed, her husband learned the truth and sued. The judge awarded him every single penny of the payout.

 

Like I said, entrepreneurs are different, and that is why I am excited to let you know about an amazing opportunity for the chance to win $25,000 for your small business.

 

Mastercard, in association with Bank of America, is running  the third annual Grow Your Biz Contest.* One lucky winner will get $25,000 to do just that – grow their business. This really is a great opportunity.

 

Here’s how to enter:

 

1. Create and upload a video (up to 1-minute long) that answers this question: How would $25,000 help your business grow?

 

2. Pitch: Four Finalists will be invited to New York City on 11/14/19 to make their pitch to the judges. The four finalists each will receive a $1,000 Mastercard Prepaid® card, professional consultation with the Grow Your Biz Panel, and a trip to the live pitch event in New York City on 11/14/19.

 

3. Win: The Grow Your Biz Panel will select one winner, who will receive the $25,000.

 

You can enter here, but remember, the deadline is October 6.

 

So, I will ask the question again, what would you do with an extra $25,000?

 

Let’s think about that for a moment. Unlike a loan, you don’t have to pay this back. And unlike income from the sale of goods, you don’t have to do work to receive it. This is money, and as such, I would suggest it be maximized.

 

What about using it on marketing for example? You could launch a very robust Facebook or Google ad campaign. And the great thing about marketing is that it is the type of investment that tends to pay off long after the actual promotion is over.

 

Or what about opening a new location? Yes, that may be a bit of a challenge on $25K, but then again, you are an entrepreneur. You eat challenges for breakfast. And the great thing about opening another location is that you are creating an additional profit center; something that can pay dividends for years to come.

 

Or what about implementing a new product or service?

 

If you are sensing a pattern to my suggestions, you are right. The chance to receive an unencumbered $25,000 is a rare thing. The savvy entrepreneur would use that windfall to create a long-term investment in the business that will multiply and pay off for years to come.

 

And anyway, it sure beats betting it all on red.

 

Are You a Small Business Owner Interested in Winning $25,000?*

 

Entrepreneurs will receive the chance to win $25,000 when they Mastercard’s Grow Your Biz Contest. To enter the Grow Your Biz Contest, small business owners must answer the simple question, “How would $25,000 help your business grow?” by submitting a video up to 1-minute long online . Four finalists will pitch their business to the Grow Your Biz Panel in New York City on 11/14/19 for the opportunity to win $25,000 and small business-expert consultation. Learn more at www.growyourbizcontest.com.

 

*No Purchase Necessary to Enter or Win. Void where prohibited. Open only to small business owners who are legal U.S. residents, and 18 and older. Ends 10/6/19. Restrictions apply.https://growyourbizcontest.com/?utm_source=article&utm_medium=referral&utm_campaign=art_boa-SSClick here for Official Rules and complete details.

 

 

About Steve Strauss

 

Steve Strauss Headshot New.pngSteven D. Strauss is one of the world's leading experts on small business and is a lawyer, writer, and speaker. The senior small business columnist for USA Today, his Ask an Expert column is one of the most highly-syndicated business columns in the country. He is the best-selling author of 17 books, including his latest, The Small Business Bible, now out in a completely updated third edition. You can also listen to his weekly podcast, Small Business SuccessSteven D. Strauss

 

Web: www.theselfemployed.com or Twitter: @SteveStrauss

You can read more articles from Steve Strauss by clicking here

 

Bank of America, N.A. engages with Steve Strauss to provide informational materials for your discussion or review purposes only. Steve Strauss is a registered trademark, used pursuant to license. The third parties within articles are used under license from Steve Strauss. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice. Bank of America, N.A. Member FDIC.  ©2019 Bank of America Corporation

Is work/life balance easier to achieve for small business owners? Or is it harder? The answer is both, depending on who and when you ask.

 

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Owning your own business seems to offer greater potential for achieving work/life balance, but especially in the early years of starting up, reaching that elusive goal may seem impossible.

 

In a survey by GetResponse, almost one-third of small business owners cited work/life balance as a reason they started their companies. How did that work out for them? The numbers speak for themselves:

 

  • 25% work more than 40 hours a week
  • 69% answer business emails in their free time
  • 91% work weekends
  • 26% never stop thinking about their business
  • 16% haven’t taken a vacation in over 4 years

 

Personally, I don’t think work/life balance is possible to achieve. Instead, I like to think of it as a work/life seesaw. Most of the time, either work or your personal life will predominate; there’s only a very small fraction of time when everything will be equally balanced.And unlike riding a seesaw, there are times when both work and your personal life are making extreme demandson your time.

 

A survey by FlexJobs found employees value work/life balance more highly than salary when considering taking a new position. There are some ways you can help both yourself and your team find better work/life balance.

 

For your team’s work/life balance:

  • Allow remote work. Set your employees up so they can work outside the office at least some of the time. Using cloud-based data storage and collaboration tools such as Dropbox, Google Drive or Microsoft’s Office 365 makes it easy for you and your team to work from anywhere you have an internet connection.

 

  • Be flexible: If you can’t allow employees to work remotely, try to offer as much flexibility as possible. For example, can your employees work from 7 to 4 instead of 9 to 5? Can they work four, 10-hour days and have the fifth day off? At a minimum, giving employees time off for things such as doctor’s appointments or children’s school plays will help improve your employees’ sense of work/life balance and keep them happier.

 

For your own work/life balance:

  • Prioritize. When you feel swamped, take a look at what’s on your plate and focus on what’s truly important. Usually, that means work only you can do, that delivers high value (such as growing your business), and that serves your most important customers.
  • Negotiate. Do you have a dozen deadlines all hitting on the same day? You’d be surprised how often clients are willing to be flexible. If you know the project is not an urgent priority for the customer, see if you can talk to the customer and extend your deadline. Use this tactic only with established clients who know your track record—and only in dire situations—so it doesn’t damage your reputation.
  • Get help. Many small business owners hate to delegate work, even when they have perfectly capable employees who could handle it. If your work/life balance is out of whack, identify tasks you’re currently doing that someone else could handle, and train them how to take over.
  • Don’t have employees? Look into hiring part-time contractors or virtual assistants or handing off some of your personal life duties, like cooking, cleaning or picking up dry cleaning, to your family. Make sure you are taking advantage of business apps that can automate and streamline time-consuming menial tasks, such as scheduling blog posts or email blasts, coordinating meetings or generating invoices.
  • Schedule some downtime. Whether it’s a short meditation every morning, a vigorous game of tennis on Sundays, or a weekly lunch with a friend, build in a little bit of time every week to decompress. Even when you’re working your hardest, having that downtime in your calendar and sticking to it will make you feel like you’re not just a work machine.

 

Work/life balance may be almost impossible to attain, but trying to get as close as possible will give you more energy for both your life and your business.

 

 

About Rieva Lesonsky

 

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Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.

 

Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

 

Bank of America, N.A. Member FDIC. ©2019 Bank of America Corporation

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