The Importance of Risk Management for An Entrepreneur

Posted on Thursday, June 09, 2016 by Jessica Helou

Risk management can be defined as the process of making decisions in an environment of uncertainty with respect to an action that is going to occur and to the consequences that will exist if this action does occur. 

Success in business requires excellence in risk management. For this reason, entrepreneurs need to be “intelligent” in the management of risk.
An entrepreneur must be aware of the risk, distinguish the different kinds of risk in order to learn how to mitigate then or to minimize their effects and optimize the resources used in management; all of this forms a part of the intelligence of business management.

The Risk Management Process:
The management of risks is an essential part of the strategic management required of an entrepreneur.
Its objective is to add as much value as possible to all of the company’s activities in a sustained manner.
For this purpose, it introduces a common vision of the positive aspects, opportunities, and of the negative aspects, threats, that could affect the business project, increasing the likelihood of success and reducing the likelihood of failure, as well as the uncertainty of achieving the entrepreneur’s objectives.
The different environments in which risks can arise must first be determined, in order to then proceed to undertake a systematic identification, analysis and treatment of such risks.

Characteristics of Risk Management:
Ongoing process in continuous development which takes places throughout the company’s strategy.
All of the risks that surround past, present and, above all, future business activities should be dealt with methodically.
Risk management should be integrated into the company’s culture.
The entrepreneur must convert strategy into operational targets, by assigning responsibilities throughout the company, with each manager and each employee being responsible for risk management as a part of their job description.
Risk management favors the measurement and reward of output in light of targets, thus promoting staff efficiency.

Advantages of Risk Management:
• Risk management improves the decision-making process and planning
• Offers the entrepreneur an integrated view of his or her business
• Efficient assignment of financial and operating resources within the organization
• Supports the employees and improves the organization’s knowledge base
• Protects and enhance the company’s assets and image
• Develops a structure that enables future activities to be carried out in a controlled manner.


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When A Daughter’s Career is Affected Primarily by Her Dad

Posted on Friday, June 03, 2016 by Jessica Helou

For a woman, the first man she met in her life and dived into his masculine being is her father.

Daughters are so attached to their fathers at the psychological level. They tend to see their daddy as the only way to escape the mother’s discipline methods. The way he behaves and play with his daughter can teach empathy, healthy risk taking and identifying boundaries.

We need to pinpoint an essential fact here. The way you treat your daughter, beginning from her childhood can affect her career path. Girls, where their fathers are involved in their lives, have more self-confidence, tend to make better choices on the long term and more likely to finish their education. Most importantly, you will be coaching her unconsciously how she will accept to be treated by men.  All starts with the little things and time you spend with her.

She will learn from you how to be a good leader. Girls observe their fathers thru the way you treat your wife and other authority figures in your family life and set an example for how leadership works or doesn’t. From this aspect, you can decide to make it easy or difficult for her to have leadership skills.

Encourage her to express herself freely to you, for the reason that she will be expressing her opinion to her boss or peers with confidence even if it’s contradictory.

Always keep in mind; it is easier to mentor a daughter than a son. I can share with you some examples of women who were mentored by their fathers and became successful in their career path like Donald Trump’s heir apparent is daughter Ivanka, Rupert Murdoch’s heir apparent is daughter Elisabeth.

Her life career depends on you!

There is no replacement for you since nobody else will teach her the things you will. The Daddy-Daughter relationship is something that women take with her to the grave.

Fatherhood is looking after her while you are there and while you are away. Secure your family’s future through a life insurance policy.

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Finding Time for your Kids

Posted on Friday, May 27, 2016 by Jessica Helou

What are you planning to do with your family this weekend? Or next weekend? Or the weekend after that?

Coordinating schedules and managing our time is a big part of parenting. Between bringing kids to practice or after school activities, having mom and dad on different work schedules, and handling an inevitable child care disruption, it can be easy to lose sight of the importance of making the effort to create time for you and your kids. 

With such busy schedules in mind, we found different ideas on easy, fun, and inexpensive ways you can make the most of the time you have together. Here are a few examples you can try:

Volunteer together!
Research suggests that families who volunteer together forge stronger ties. Also, kids who become involved in community service develop greater self-esteem and are less likely to engage in risky behaviors in their teen years.  

Take a 'what if' trip.
Looking for a conversation starter over your next family dinner? Try this: If you could visit anywhere, or anytime, in the world, where would it be, and why? Share your answer too. 

Say Thank You to Your Kids.
Saying 'thank you' to your children not only lets them feel loved and appreciated, it also helps teach them the importance of showing thanks to others. How? Say it, spend time together, or give them a card.

Make a fort.
Next time you're stuck inside, makes a blanket fort. Grab blankets, pillows, and flashlights then build something incredible. Even a simple tent between two chairs can feel like an adventure if you and your children are working together.
It’s not about how much time you spend together, the important part is that you are together. Those are the moments that can make the biggest difference in your child’s life. 

Take time out from work for family time.
Trust me; they will be more than happy once they know that you left your day at work in order to be present with them. They will really appreciate the gesture you made.

Play games with your children.
Let them win sometimes, but don’t make it obvious or easy.

The thing kids want most from their dads is their time.

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Financial Priorities Change Over Time, But a Good Saving Plan Lasts a Lifetime.

Posted on Thursday, May 19, 2016 by Jessica Helou
I can never be surprised by the change we pass thru in our life, especially with the financial priorities. 

In your teens, you tried to save for a car, in your 30s you might be saving for your kids’ education and by your 40’s and 50’s you start saving for your retirement since you can make sure that your children can manage their life path and be more responsible. In order to get ahead through all these steps, you should definitely have a solid saving plan to stick on whenever your goals or priorities may change.

A saving plan will keep you on track with your long-term goals regardless of the economic downturns one can encounter along the way.

Of course, the key to any saving plan is to start early. "A little bit saved each month starting at age 25 beats a lot saved every year starting at age 50," says Heather Franklin, a certified financial planner in Toronto. "Every day you wait to put a savings plan in place could affect the lifestyle you want."
You can fill a free life insurance quote to provide you with solutions that offer financial guarantees for you and your family.

Following these five essential steps will help you create a successful savings plan:

1. Having a Clear Objective of What you are Saving for:
No one can get to the destination he aims for unless he has a road map. People know they have to save, but if they can visualize their financial goals, it really helps. It also helps to write down each objective with the amount you want to save and a target date for reaching your goal since nothing comes in one shot. This can make sure you’re on the right track reaching your financial goals with success.

2. Determine How Much you can Save:

Saving is always related to spending; whether you make $50,000 or $150,000 a year, you need a snapshot of how much you're spending. That's where a budget comes in. If only 5% of income is all you can afford, start there, then work on increasing it to 10% or 15% until you reach the saving percentage you determined for your financial goals. If you're unsure how much you should be saving, Roy Keyrouz is always there to help you build a budget and show you ways to save that you have never considered. 

3. Choose the Appropriate Solution:

Choosing the right savings vehicle will depend on how much you can save, how frequently you plan to add to your savings, and how quickly you may need to access that money.

4. Make it Automatic:

If you don't see the money, you're less likely to spend it. Once you know how much you want to tuck away-say 5% or 10% an automatic transfer to a separate savings account or for your life insurance as soon as you're paid. Even small amounts count. It will hurt for the first two to three times, but after that, you'll get used to it.

5. Monitor your Progress:

Take a few minutes every few months to see if you're meeting your savings goals. "If you get a salary increase, add it to your savings, it shouldn't be an opportunity to spend more."
If you're saving for your child's education, make sure you understand the idea of owning a life insurance since it helps a lot with your child’s education fees.

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Can Social Media Reshape Fatherhood?

Posted on Thursday, May 12, 2016 by Jessica Helou

Men nowadays are increasingly involved with the social media platforms by sharing their experiences of the highs and lows of parenting.
Research does suggest that the use of social media such as Facebook may help parents to build and maintain social capital'.

Social media can help in building better bonds between fathers and their children since they are all there; sharing pictures and stories together.
From parenting blogs to Facebook, fathers are always concerned about new initiatives to encourage them to be more at ease with their parenting role and more engaged with their children.

Dads can record day-to-day relationship with their kids by uploading pictures and stories via social media. Dads highlighting excitement for Christmas or playing games with their kids can reveal a generational change in attitudes to fatherhood. Posting pictures and comments is a way to express love and pride toward your child.
Positive things you want to share reinforce your perception of your relationship and can strengthen the parental bond.

As the roles of mums and dads become more interchangeable and fathers continue to play a more hands-on role in child rearing, so their attitudes towards public displays of affection are changing too. The process of social networking for fathers not only affirms their emotional attachment to their child but helps them become better dads too.

Whilst social media is great at creating connections with loose ties, we always insist that the face-to-face relationship is the most important one and can’t be replaced with the social media life. It's useful for sharing images of family togetherness, which can be fantastic for close family and friends, I hope that the public conversations about and between fathers continues to grow - but social media audiences are varied, and some people can get annoyed by it.”

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