9 Ways To Stay Motivated When You Work From Home – Productivity Tips

Hi everybody, welcome back. A lot of you work from home. A lot of you are consultants or freelancers, and you may work alone. So in this blog post, I’m going to talk about nine ways that you can stay motivated when you work from home.

1: Dress for work.
I recommend that you actually get dressed for work, that you dress up just like you would be dressing to go to an office, and working with other people, or that you dress just like you were going to have a video conference with an important client, and you are going to have to stand up in your whole body would be seen by dressing up, it sets you up in a mental state where you are going to be more productive, and you’re going to be on point for work.

2: Setup Daily Goal
You want to set three top goals, and of those three goals, you want to choose one that if you move the ball forward just a little bit on that one goal today that you would feel like today’s is a success. And you take that one goal and you start with that one goal. Before you open the email, before you go on social, before you go on the web, you address that one goal for one solid hour at least. And make some progress on it, because the thing is when you start off productive in a day, it’s much easier to stay productive through the rest of the day. When you start off answering email and going on the web and you’re easing into the slow-motion aspect of getting productive, it’s harder to be motivated.

3: Calendar your day.
I like to say, “If it’s not on my calendar, it doesn’t get done.” I also use a software as a service app online. It’s called Toggle. It also has a desktop version, but it’s a timer that I set when I’m starting on a project, so I know I’m on the clock, and being on the clock is really motivational. Also, setting specific times for specific tasks on my calendar throughout the day makes me realize that I’ve got to move from one thing to another, and I set specific time limits on a particular activity or a particular project. And if I run out of time, I move on to the next one. You can always come back to the project that you didn’t finish, and a lot of times when you do that, you come back with fresh eyes, or you may come back with a little more energy to that project. But I guarantee you that setting your goals on a calendar for the day and also using a timer is going to keep you motivated and keep you moving forward.

4: Get an accountability partner.
It’s a proven fact that when you share your goals with someone when you share what your plans are for what you’re going to get done, you feel more accountability, and you feel more motivated to get it done. So I suggest getting an accountability partner. You take those three goals that you’ve set out for the day, and you have a very quick Zoom call five minutes, a quick phone call, a quick Skype, whatever it is, and you share your goals for that day. By sharing your goals with another person, you will stay motivated to get it done. Because here’s the second part, and that is that you check-in at the end of the day for another five minutes, and you report back on what you got done, and that person is also reporting back to you.

So number one, it’s a great relationship builder, and number two it’s super motivational and will keep you on point when you know that you’ve got to report back to someone else at the end of the day about what you got done. Now mastermind groups are also great for accountability in that regard of having an accountability partner. They tend to be a little longer-term, meaning you might only meet with your mastermind group once every week, or once every two weeks. So that can be motivational, but having an accountability partner for a particular day really keeps you motivated for that day.

5: Another person involved, and that is to make a promise publicly.
Put it out there on social media, what you’re going to do that day. Now, no one may be really paying that much attention to it, but for you just know that it’s out there, it’s a psychological thing. Just knowing that it’s out there is going to be motivational to you, that you’ve put it out there saying, “This is what I’m going to do.” It’s psychological for you. And also you have put it out there to the public in a public way that sets up this level of accountability.

6: Change the scenery.

When you’re working from home, or you work alone, whether that’s in a coworking space or somewhere else, just changing your scenery can be really motivating, and get your energy and your juices flowing again. So if you work from home, go to the public library, go to a coworking space, go out on your patio. Sometimes even going to a different room in your house, or sitting in a different part of the room can establish a new point of view, and can be motivational, and can re-energize you in your work.

7: Take breaks.
Now taking a break may feel a little counterintuitive in terms of being productive or being motivated, but in truth, it’s not. Whenever I take a break, when I take a breather, want to get away from what I’m doing, I always come back with an avid level of motivation and energy to solving that problem. The trick is to just get away from it, to go take a walk, to relax, to think. You want to give your brain a rest, and what happens when you do that is your brain actually keeps working on the problem that you were just working on. A lot of times if you’re looking for inspiration or you’re looking for an idea, just resting your brain and bringing it into a quiet place, your brain will go into those machinations, and a lot of times it solves the problem on its own. So when you come back to it, you may be sparked with a new idea, or a new approach, or added energy for how to deal with what you are working on.

8: The eighth way to stay motivated is to stay inspired.
You want to look at what other people are doing, and I don’t mean compare yourself to others, because that can lead to a de-motivational kind of mindset. But would you want to look at what other people are doing, what they’re writing, what they’re designing, what they’re posting, what they’re sharing, what they’re doing for their clients, and use that as inspiration? New ideas for your business, for your products, for your services can come through looking at what other people are doing. Find in it what inspires you. What could you do better? What could you do differently? Staying inspired can be really motivational.

9: Carrot on a stick.
This is the easy one. You want to set up a reward for yourself. Say to yourself, “If I get X done, I’m going to get X.” So, if I finish this project by midnight, I get to go out and have a burger and fries, whatever that is. I get to watch a Netflix movie tonight. Set up a reward for yourself that establishes a goal that’s going to be congratulations for your staying motivated, for your staying on task, for your getting the work done. And the bonus is, make it not about you. By making it not about you. It takes it out of an aspect of being self-centered, your motivation being self-driven. Think about who it is you’re helping in your work, who it is you’re helping with your products and your services. What are you doing for them? What value are you creating for them? How are you helping them succeed to move their businesses forward? I know that when I think about the people I’m helping, it’s really motivational to me. It happens to me when I d write blog posts. All the posts I do, I do to help people, and I give without expectation of return, and I find that it’s really motivational for me to do that. Make it about the people that you’re helping.

ADVANTAGES OF USING INVOICING SOFTWARE

It saves Time If you run an online shop and continue to use the old invoicing method manually. Don’t it bother doing all the invoicing material?

Not only does it take loads of time that can be used for many other tasks, but it’s also very easy to make expensive bugs in your invoices. This is especially true if you don’t keep them regularly in one position.

Customers do not like mistakes, but you want ratings of five stars! Here is your guide to understand why your future is in online invoices.

With invoicing software you can save a lot of time. You don’t have to spend hours completing the invoices physically, but you also get the invoice faster.

You can rest assured that your invoice comes on time and you can easily track it through a digital invoicing tool. If the correct e-commerce software has been chosen for the task.

Most electronic invoicing software can also be used to send invoices online with just one click by PayPal or by credit card. This is time-saving and easy to use, and we call that a double win.

You do not even have to worry about invoicing when you select an invoicing software that automatically creates and sends your invoices, but you can focus on something else a business needs.

Paperwork is no longer in use.

You don’t have to fight online invoicing tools with paperwork, as you have your entire accounts online.

Automated software invoicing ensures the correct numbering of invoices and correct invoice details. The invoices can be sorted by days, months or quarters, copied or printed by a retailer so you can pass them on.

If you’re not in the office, suppose you need somebody’s invoice. You don’t need to carry a paperwork binder any longer. You can just log onto the app and can use the invoices online, and all of your accounting is available at any time on your smartphone, tablet or computer.

Keep track of your cash

In contrast to manual billing, you get a great overview of all your purchases and invoices with invoice software. You never lose your debtors ‘ track, so you don’t lose your money.

High-quality invoicing software sorts your bills by order status, allowing you to keep track of your invoice based on different variables: sending, paying, due or overdue invoices.

Unlike the dealer who manually creates an invoice, it is possible to send reminders using automated invoice software when the payment due date (which you would certainly like to keep track of) passes on to your customer!

Finally, when it comes to monitoring your money, and invoicing software can also be used to check your own inventory so you can properly track all your sales and everything you need to be restored.

Your invoices are legal

The Invoicing app is especially useful in legal matters. It is highly recommended to keep records of your financial transactions to keep your accounts clear (if not necessary).

A software invoicing ensures that your “paperwork” is always in order. The facts can drift to the back of your mind now. You have much to remember. You don’t need hours of devotion for tax or other legislative purposes to find and prepare them.

As a seller, you know that, in accordance with national tax policies, the invoices must meet certain standards. You can become a sweetheart to try to stick up various factors and the tax rates when you sell to countries all over the world!

Should You Get an LLC For Your Real Estate Business

This blog post can be divided into really like three general chunks. First, I’m going to explain what an LLC is, and why they’re so popular. Second, I’ll explain the downsides of an LLC and why you might not want one. And third, I’ll walk through some other options you have for protecting your assets. First, let’s talk about what an LLC is, and what it isn’t.

An LLC is not a get out of jail free card. You can be sued with an LLC, and you can lose everything. An LLC is not designed to prevent you from ever being sued, an LLC’s designed to help you manage and contain the fallout from that lawsuit. So, according to the United States, Small Business Administration, SBA, a limited liability company is a hybrid type of legal structure that provides the limited liability features of a corporation, and the tax efficiencies and operational flexibilities of a partnership. According to this definition, an LLC’s benefits are threefold.

If you were to get sued, your liability or the damage to your wallet may be contained to the assets within the LLC, not everything else you own. In other words, if an LLC is set up right and you get sued and lose, the creditors probably won’t be able to come and take your personal house or your car or garnish your W-2 job wages. There are ways a judge might pierce the protection of an LLC and go after those things. If every I was not dotted and every T was not crossed. All right.

The LLC is fairly easy to handle during tax time, especially if it’s a single-member LLC, which basically means you own it or you and your spouse. LLC’s are known as pass-through entities, which means the income and expenses flow magically through the LLC, and are instead reported and paid by each individual member on their personal income statement. There is no corporate tax a corporation may pay. This can definitely make taxes easier and less expensive than let’s say, a big C-corp. That said, while a single-member LLC does not require its own business tax return, a multi-member LLC with partners does. Don’t make that mistake.

An LLC is fairly flexible in terms of running it. You don’t need a thousand documents, you don’t need a bunch of stock issued. It’s fairly easy to set up, barely inexpensive depending on where you’re at. So, it’s easy to see why an LLC might be advantageous to a real estate investor. I mean, let’s just say a tenant slips on the stairs, bam, and broke their hip, right? The tenant decides to sue the landlord for neglect, and the court sides with the tenant. For whatever reason, let’s say, your insurance doesn’t cover all the legal penalties and you as the owner are required to pay $500,000 out of pocket to the tenant. Well, if you own the property without an LLC, the tenant could have your wages garnished and force you to sell all your properties and drive you to bankruptcy. You’ll probably end up eating cold beans out of a can under a bridge while pigeons sit on your shoulder.

It’s not a fun place to be. On the other hand, if the owner of that property was the main street investments LLC, then the LLC is the owner getting sued. The courts could make you sell that property, but they likely won’t going to make you sell the other properties owned by other LLCs. They won’t take your primary residence, you won’t be eating cold beans. Of course, this example is a bit overdramatized and unlikely to happen. And I actually don’t mind eating cold beans. But it does illustrate the fear that drives most investors to want an LLC. However, even though it sounds like I might be encouraging you to go get an LLC right now, hold your horses. There are some other important factors to consider. So, LLC’s can be awesome, but let’s talk about the problems with an LLC and real estate.

LLC’s are great. I’m not going to deny that. However, they might not be great for you. There are some fairly important considerations to make before you jump into the LLC bandwagon that could affect your decision. For example, and maybe most importantly, lending on an LLC is almost impossible for residential properties. That’s right. If you plan on using a loan to acquire an investment property like a single or duplex, triplex, fourplex, it’s unlikely you can have an LLC own the property. Most residential lenders simply will not lend on property inside of an LLC, and that makes you have to go to a commercial lender, has higher fees, higher rates, shorter terms, something you probably don’t want to do. Now, many investors simply transfer the ownership of the property into an LLC after purchasing the property in their own name, but that does present some risks as well.

If the bank finds out, and they probably will, due to insurance reasons, they get updated to that. They might call your note due, because of the due on sale clause. Of course, you didn’t actually sell the property, but you did transfer the title from one entity, your name, to another, your LLC. Now, in the past, this has never really been a problem as banks generally turn a blind eye to this, but it seems it could change in the future. And it’s really only expected to get worse as interest rates go up. So, if you plan to go that route, I recommend, speak with your bank, get permission in writing to transfer the property into an LLC. This is really the only way you’ll be truly protected from that dreaded due on sale clause transferring from you to an LLC. All right. One other issue with an LLC, well, ask yourself, what are you really protecting and spending all this time and energy doing?

New investors automatically think they need an LLC to protect themselves, but when you’re first starting out, how much wealth do you really need to protect right then? Think about it, you’ve got a property or maybe two with very little equity. You got car payments, you don’t have six figures in the bank, you want to go through all the trouble to protect your wealth? Now finally, there are also a lot of additional documents and paperwork and hassle when working inside of an LLC. Just something to consider. While LLC’s are definitely easier than corporations when it comes to paperwork and taxes. They still add a lot of complications to the mix. This is especially true if the LLC contains several different unmarried members, as individual tax returns are not enough. You’re going to have to do business tax returns. It’s a mess. Setting up the LLC takes money as well. Maintaining it takes money. Filing taxes takes money. And that property, you’re probably not making that much cash flow anyway.

Think of this, imagine spending two grand a year on this LLC, and the house’s only cashflow is 1200 a year. Yeah, the LLCs can turn a good investment into a bad one. Right? Okay. So, now that you know some of the pros and the cons of LLCs, let me dish out some cold hard truth here to all the new investors. Here’s the thing that I’ve noticed. People like to set up LLCs because it makes them feel like they’re taking action, but in reality, they aren’t. In fact, the idea of an LLC is probably the number one excuse people have for not taking action. I see it almost every day on BiggerPockets. I want to invest in real estate, but I don’t know what to do about an LLC. So, I’m going to sit on the couch and eat cold beans. Now, help sir. Right? The truth is, people, use the concept of an LLC as an excuse so they don’t have to take action. Because it’s easier to say, I don’t have an LLC yet so I can’t go and invest than it is to say, I’m scared.

However, LLCs are no substitution for taking action. If you don’t have any wealth to protect, maybe you don’t need an LLC. And when you find yourself building wealth and creating a sizable business, well then maybe that’s when an LLC will come in most handy for you. By that time you’ll be able to afford the proper attorneys and CPAs who can handle setting the LLC upright. And maybe at that time they’ll tell you that you really don’t need one, or maybe you do need one, or maybe they’re going to set you up with something completely different. You’re not going to know unless you ask. All right. Finally, let’s talk about some of the other options besides LLC’s.

How do you protect your assets if you decide not to get one? Right? What should you do instead of an LLC? Looking back at the three main benefits of an LLC, there’s the tax efficiency, limited liability, and operational flexibility. So, what other legal structure can help you protect yourself from losing personal money if you get sued? And it’s easy to manage and pay taxes? I’ll suggest two things. Insurance and leverage. Let’s talk about both. Number one, insurance. That’s right. Good insurance can help you avoid eating cold beans under a bridge with the pigeon, right? Get the right insurance and get enough of it. Talk to a good insurance agent about your options, and let them know your fears. They’ll be more than happy to sell you the best policy possible. Two, leverage.

When someone is going to go sue you, what is their goal? To get as much money from you as possible, of course. That’s why leverage can actually be a large help in protecting your assets. By leverage, I mean, having little equity, low down payments. For example, if you owe 100 K on a property and the property is only worth 110 K, you are likely leveraged pretty high, right? People often look at that like it’s a bad thing, but asset protection is actually a huge benefit. What kind of lawyer is going to go after someone, spend hundreds of hours litigating and force them to sell their rental, only to have no blood to be squeezed from that turnip?

On the other hand, if you own a rental property free and clear, and it’s worth 110 K, suddenly the idea of suing you becomes much more exciting for an attorney, because they know there’s a ton of money for them to take. I’m not saying you should go up there increase the leverage on every property you own, right? That’s why we have insurance. But, what I am saying is that when you’re first starting out, you’re likely going to be highly leveraged. Thus, you’re not a very big target for lawyers to come after. The question still remains, should you get an LLC? Well, you’re not required to have one general, but I want to end this section with an answer that everyone hates. I don’t know. Talk to an attorney and a CPA.

CPA because only they are going to be able to tell you if you’re ready for an LLC. It’s a powerful legal entity, but only if it’s set up correctly, and only if it actually benefits you. And there is no easy way for me on this video to tell you what the case is in your life. However, I would encourage you not to let the LLC question stop you from moving forward with your real estate ambitions. Don’t let it be an excuse. Don’t let the fear of a lawsuit stop you from achieving your dreams. If you want an LLC, go get one. Go ask the right person.