Perhaps this is a reflection of why her life is not in orders. Often times, we archive our old mail, useful or not. Our mailbox may appear organized on the surface. Sooner or later, it reaches capacity and the mail function breaks down.
Our life is the same. If we don’t periodically clear out things that no longer serve us, it’s only a matter of time we reach break point. With our time being the most precious commodity, it is crucial that we regularly review whether there are any unproductive routines, events and habits in our day, our week or our month that needs to be cleared out to make room for better things.

Perform a time audit if you haven’t done so in the past six months or if you feel that your life is getting out of hands and then follow through with an updated ideal time schedule.

Tags: financial, analysts,, time, management

Speed has come to be a highly regarded quality in today’s world. The advancement of technology in the past few decades made possible instantaneous financial transactions at the speed of light while your client can be anywhere in the world. With this significant increase in the tempo of work follows intensified work pressure and stronger competition.

We are humans after all. There is only so much speed we can compress into our lives.

Is slowing down such a bad thing? All economies go through growth and slowdown, so do stock prices, real estate prices and commodity prices. The same can be observed in nature where growth slows down in fall and winter and accelerates again in spring and summer. When we are tired, a good rest is usually the only thing we need to reenergize us.

I was recently at Canada’s Wonderland and I watched a bunch of roller coasters in action. The fascinating concept about roller coasters is, other than the initial haul up the first slope, the rest of the ride is powered by the momentum generated on the way down. When you’re on the ride, it can be quite scary coming down. It is precisely during this downtrend when the roller coaster gathers momentum for the upturn.

I can appreciate that as a financial analyst, you’re probably a high achiever who have high expectations of yourself. Perhaps, some of the exceptionally demanding expectations you set on yourself are based on your perception of what may be other people’s expectation of you, e.g. that of your boss, your parents or your spouse.

Let me share the words of wisdom by Harry Lewis, Dean of Harvard University in a message he wrote his students in 2001: Slow Down: Getting More Out of Harvard by Doing Less. Surprised? Although his article is written for students, the principles can easily be adapted to your financial career and any area of your life for the matter. You will get more out of your life if you allow yourself more time and space to truly enjoy and experience the things you do.

Related video:
Slowing Down In A World Built For Speed

Tags: financial, analysts,, career,, mindset,, stress, management

A reader asked me last week if it is too late in her early thirties to follow her passion to become a financial analyst. My answer to her was, “No, it’s not too late.”

A study has shown that the majority of people, estimated as high as 80%, are in the “wrong” industry. When students are fresh out of school, some reasons they base their choice of their first job may be:

• a career they think they like
• a career that was popular at the time
• conforming to peer influence
• following the advice from their parents or peers
• taking the first job that’s available
• a temporary job that became permanent
• strong earnings potential

Do any of these describe you?

Career switch is more common than most people think. Most people realize in their thirties that they are in the “wrong” career. They discover their life passion and want to follow a new direction. They want to stop doing what they can do well but don’t enjoy.

I don’t have the statistics but my feeling is that most people end up not making that switch. I say this because I meet many more people who are dissatisfied with their work than those who are fulfilled. I can relate to the multitude of fear that comes with making a major career decision:

• Fear of change
• Fear of the unknown
• Fear of what others may think
• Fear of appearing like a failure
• Fear of starting over
• Fear of a lack of experience in the new field
• Fear of the financial gap during a career transition
• Fear of being too old or too late to change

I was in a love/hate situation with my job at one point and I was so grappled with all these fears that I never voluntarily made the choice to switch. It took a layoff to spare me from making the tough decision. It wasn’t until I had turned down several job offers that were even more attractive than the one I lost that I finally realized that I had wanted to switch career anyway.

If you are currently contemplating a switch, either into or out of the financial industry, I challenge you to let go of limitations and open your mind to possibilities. I also challenge you to be comfortable with developing your career based on your own time frame rather than conforming to the norm. You’ll bring with you valuable experience from your previous work to your new career.

To help you make an informed choice about your new career direction, here are some considerations to help you explore:

• Why are you gravitated towards the field?
• What does it mean for you if you succeed in this new career?
• What would be the cost to you if you stay in your current career?
• What’s the worst that can happen if this new direction does not work out for you?
• Research the industry, the major players and the companies you’re considering.
• Talk to some insiders to better understand what it’s really like to work in the industry – is it like what you imagine it is?
• If you’re switching into the financial industry, are you prepared to put in the demanding hours to work?
• Are you willing to invest your time to study for the exams to earn your credentials?
• In some cases, if there aren’t any transferable skills, are you willing to start from the entry level?
• What is your financial plan during your career transition?

Most important of all, follow your passion. There is nothing more rewarding that doing what you love doing rather than feeling stuck doing what you have to do.

Tags: financial, analysts,, financial, analyst, jobs,, career

Have you ever tried stretching beyond your limits? What are limits anyway? Who set these limits on you? Here are some examples of how we sometimes impose limits on ourselves: “I’m too tired today to write another financial analysis.” “There is no way I can finish this project in a week!” “I can’t find any client who would pay for my services.”

I was away on a summer camp. That explains why I haven’t posted for two weeks. It’s actually an experiential seminar where the participants have to go through both intensive physical and mental exercises. Let me share with you one of my biggest takeaways from this trip.

I’ve come to realize that success is a choice and commitment is a decision. Granted, there will always be fear when I’m testing my limits. Throughout the seminar, I was put to face my various fears. Fear is a good thing. It signals when we are moving to the edge of our comfort zone.

On the fourth day, my group was let to an open field with a daunting activity setup. I took one look and immediately told myself, “This is where I draw the line. There is no way I’m going to participate in this one.” I almost allowed my fear of height and open space stop me from one of the most transformational experiences of my life.

This was when the wise trainer told me, both metaphorically and literally, “If you’re not sitting on the edge, you can’t see what’s on the other side.”

It took me a while to decide to take part in this activity. The flight of 30-foot ladder is a one-way climb which meant that my first step up the ladder was a commitment. Once I made up my mind, my focus shifted from my fear to taking each step carefully towards the top of the ladder and the things I needed to do to come back down.

I struggled through this exercise and I completed it. I have achieved something I never thought was possible for me. Had I allowed my fear to hold me back, I would not have discovered that the limit I had in my mind was not only self-imposed but also nothing more than my mental perception.

You must be wondering by now what I did that was so frightening and empowering at the same time. I’m afraid I can’t disclose it. The surprise element is a main reason this exercise was so powerful and effective. This in itself was another lesson for me: embracing the unknown with an adventurous mindset and be okay with it.

If you are curious or interested enough to find out what this seminar is, it is the Wizard Training Camp organized by Peak Potentials Training.

Tags: financial, analysts,, mindset

I assume that as a financial analyst, you can’t escape reading the daily news. I can’t imagine a financial analyst who isn’t up to date on the latest Bloomberg headline. In this past year, the problems in the financial industry have inundated the news front. Being exposed to negative news day in and day out can certainly undermine most people’s confidence and feeling of job security.

Now that I’m no longer in the financial industry, I have the option to just skim the headlines or simply delete any brokerage report that bears depressing news. If you’re still in the financial industry or someone who is looking to break into the field, how would you handle this wave of economic downturn, the layoffs and corporate restructuring?

To some degree, there is a sense of helplessness. There is little control if the management of a financial corporation decides to freeze hiring, downsize or worse, the company collapses. However, I believe everyone has control on how to respond to the changes characteristic of this volatile industry.

When you can accept the fact that the financial industry is volatile and fluctuates mostly in tandem with the economic trend, you’ll be able to go with the flow. By default, financial analysts have diverse talents, as it takes a comprehensive range of skills to successfully break into the financial industry.

In the worst case scenario, even if someone got laid off and has to make an involuntary change of career direction, there are plenty of possibilities to work with. Three valuable assets to have are:
• Flexibility
• Adaptability
• Creativity

Have you noticed that there are many similarities and transferable skills between the work of a financial analyst and a recruiter? A stock broker can comfortably, with some new industry knowledge, become a salesperson in another industry. With the financial background and training, financial analysts can also transition to become an entrepreneur.

For myself, speaking with hindsight, my layoff was the best thing that ever happened to me. It was tough accepting it at the beginning. Now, I see that it has opened up many new opportunities that were not previously obvious to me.

Know that whatever direction you’ll be taking, you’ll be meeting people or learning a skill that could be critical to your success down the road. These are probably opportunities that you would not have considered had your career plans all worked out smoothly as you had expected.

Tags: financial, analysts,, career,, layoff,, mindset

Many financial analysts have solid financial background and qualifications. How can you differentiate yourself from your peers in the competitive financial industry? Strong people skills can be the distinguishing factor, assuming you and your peers offer similar level of value to the organization. Here are five characteristics that will help your colleagues to better know you, like you and trust you:

Positive attitude. Would you prefer to work with someone who is enthusiastic than one who whines often? Likewise, your colleagues would feel the same way too. Do you embrace new responsibilities or do you grumble about having too much work? Do you see challenges as opportunities or threats? Do you take initiatives or act helpless when some negative events happen? Be sure that you are part of the solution and not part of the problem.

Emotional maturity. The intense work of a financial analyst is stressful. Take responsibilities for your own feelings and don’t let it get out of control in the workplace. Be honest. Are you quick tempered? Do you often act on impulses? Find healthy ways to express your emotions and vent out your frustrations. Exercise, rest and relaxation are just a few simple ways you can release tension. Taking your frustrations out at work certainly won’t take you very far in your career.

Empathy. Remember that your fellow co-workers are also under work pressure and some may even have their personal struggles to handle. Be understanding of their seemingly unfriendly behavior. Develop the ability to identify the wants, needs and perspective of others even when they are not verbalized. Being a good listener helps. Empathy is a basic quality of an excellent leader and is the foundation for developing strong people relationships.

Team player. Be generous and share your knowledge with your team. Although you will be evaluated based on your individual performance, you belong to a team. It may be counter-intuitive to help your co-workers when some are competing with you for the next promotion. Helping your colleagues achieve their goals will earn you their support and respect. When you help to give solutions to your team members, they will also reciprocate the support when you are in need.

Network. The more people you connect with, the wider your network for information, ideas and potential opportunities. Do you have any regular networking meetings? Do many people know about your quality work and great work attitude? Does anyone know about your work achievements? Be authentic and do not brag. Networking is the opportunity to apply the people skills that you have developed.

A good way to improve your people skills is to know yourself first. How do you currently interact with people? Do you observe any patterns? Do you have a positive attitude or do you always focus on the negative? Are you well-liked or do your co-workers tend to stay away from you? What are the qualities that people like about you? Where do you have room for improvement? Your strong people skills will increase your chances of you getting the next promotion over your financial analyst counterpart or keeping your job safe during cutbacks.

Tags: financial, analysts,, people, skills,, social, skills,, Communicating

But seriously, IMF in its latest World Economic Outlook Update, continues to project global growth to decelerate significantly in the second half of 2008, with only a gradual recovery in 2009. IMF is forecasting a moderate contraction in US economy during second half of 2008 and a slowdown in Euro area and Japan. China, while slowing, is expected to expand by 10% in 2008-09. Inflation is a core concern, driven by higher food and fuel prices in many countries.

I suppose, we should be thankful that our economic worries are much more manageable by comparison.

Here’s the full BBC News article on Zimbabwe:

Zimbabwe introduces Z$100bn note

Zimbabwe is to introduce a bank-note worth Z$100bn in response to rampant inflation - but the note will barely cover the cost of a loaf of bread. Some Zimbabweans are already calling for higher denominations in a country where the official annual inflation rate has exceeded 2,200,000%.

Independent economists believe the real rate is many times higher.

Zimbabwe’s meltdown has left at least 80% of the population in poverty, facing mass shortages of basic goods.

The country’s central bank has introduced several new notes already this year in response to the hyperinflation.

In January, a Z$10 million note was issued, followed by a Z$50 million. By June the denominations had reached tens of billions.

Daily bread

In a notice in the state-controlled Herald newspaper, central bank governor Gideon Gono said the Reserve Bank of Zimbabwe would introduce the new notes - known as special agro-cheques - to help consumers.

“This new $100 billion special agro-cheque will go into circulation on Monday,” the notice said.

But Zimbabwe residents say the latest note is already worthless, and does not even cover their daily lunch.

“Nowadays, for my expenses a day, I need about Z$500 billion,” one resident said.

“So Z$100 billion can’t do anything because for me to go home I need Z$250 billion, so this [note] is worthless.”

Zimbabwe was once one of the richest countries in Africa.

But it has descended into economic chaos in recent years, with many international observers blaming the policies of President Robert Mugabe.

Tags: Real, Analysis,, inflation,, financial, analysts

The most successful salesperson focuses not on “what can I get”, but “what can I give”. By salesperson, I don’t mean you have to be selling a physical product. You can be a broker selling stocks, a financial analyst selling ideas or any professional marketing yourself and your services.

Yesterday, I had the unfortunate experience of meeting an entrepreneur who was only interested in himself and selling his products. The only valuable take away I got from the meeting was a reiteration of the dos and don’ts of successful selling. Otherwise, it was a total waste of my time.

Respect your client’s time
Make sure you check your organizer for the correct appointment time. This salesperson had our appointment time wrong. He called to reschedule two hours after our appointment which I had unwisely accommodated. I personally know a few business people who have a rule to not do business with anyone who is late for their first appointment. Tough as it may sound, they said that it is a good indicator of the trustworthiness of the person.

Practice active listening
Peculiarly, this person who has extensive experience in business consulting barely listened to my words or body language. He was probably thinking ahead what he wanted to say to me. Although I had the initial 10 minutes to say a few words, the rest of the hour was almost a monologue. The majority of the time, he was staring into space instead of looking at me. When the hour was up, I was packing to leave but he was still rambling on.

What’s in it for the client?
I wouldn’t mind listening to a 50-minute monologue had he focused on the benefits that his services would provide me. It was all about his products and product features rather than solutions and benefits for me. Had he listened to me in the first ten minutes, he would have heard that I do not have a want or need for his products. People buy benefits and solutions to their problems.

Respecting your clients choices
Your prospect may or may not decide to buy your product or hire your service. Sometimes the product is right but the timing isn’t. I was quite annoyed to hear the salesperson criticize my business when he hardly knew anything about it. Imagine when you recommend a great investment idea to your client, if there isn’t a strategic fit to your client’s portfolio, he would probably let it pass.

There is much more to successful selling. I hope these are just a few tips to help you with your next sales presentation whether you are marketing your products or your ideas or yourself. Everyone is always marketing something, especially financial analysts .

Tags: selling,, marketing,, financial, analysts,, real, analysis

I can’t believe I did it again. I said “yes” to an invitation when what I really wanted to say was “no”. It’s been a long time since I had given in to a friendly nudge. I knew all too well that my schedule this month is fully booked. I didn’t want to disappoint my friend who was totally excited about her upcoming event.

Has this ever happened to you too? It’s incredible that one of the shortest English words is actually among the top three most difficult things to say. (The other two are “help me” and “I love you”.)

In that brief moment of trying to be nice, I have neglected my own needs. I have created an internal conflict that put me in a dilemma. I felt obligated to attend the event but I couldn’t fully enjoy it because I was preoccupied with my tight work schedule.

Being able to assertively say no is a major part of setting personal boundaries. Having personal boundaries doesn’t mean we’re being unfriendly. In fact, these boundaries are essential to maintaining healthy relationships, both at work and at home, in the long term.

As a financial analyst, do you feel obligated to keep taking on more responsibilities even when you’re already overloaded with work? Are you worried that saying no would place you in the bad light with your co-workers or your boss? Do you make known your personal commitments when some non-urgent do-it-now assignments pop up?

“Maxim for life: You get treated in life the way you teach people to treat you.” - Wayne Dyer

This recent experience of mine is a reminder of this truth. My friend wouldn’t know about my busy work schedule this month unless I tell her about it. Having clear personal boundaries help with:

• Attending to our own needs
• Clearly expressing our needs to others
• Assertively and respectfully articulating how we want to be treated
• Managing external conflicts
• Prevent internal conflicts
• Effective time management

To successfully set healthy personal boundaries is a simple three-step process:

1. Understand your needs
2. Assertively express your boundaries
3. Implement and monitor your boundaries

If you’re ever unsure or don’t really know how to respond on the spot, ask for a little time. Think it over what your needs are and respond diplomatically where your boundaries are. If you’re unable to meet the needs of the other person, suggest alternative solutions to help them.

I’m sure that as a financial analyst, you have a lot to juggle with between your work and your personal life. Apply your boundaries both at work and after work. You may be amazed to find that your co-workers, friends and family are pleased to hear clear, unequivocal messages from you on your preferences.

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Related articles:

• You Can Say NO!

• Setting Boundaries in the Workplace

• The Big Energy Bandits in the Workplace

Tags: financial, analysts,, Communicating,, conflict, management,, time, management

An ideal schedule is the next logical step to make use of the insights I gathered from the time audit last week about my time spending patterns. It goes hand in hand with a time audit. Having an ideal schedule doesn’t mean that you have to stick to it all the time. Every day is different, and especially so for a financial analyst. The goal is to adhere to it for 80% or more of the time.

An ideal schedule covers my activities in a typical week. It resembles a page in the week-at-a-glance organizer. The time of the day is on the left column and the days of the week on the right. I applied the “pay yourself first’ concept that I mentioned in A Secret To Making Time For Yourself. I began by blocking off time for personal commitments, including my exercise time, family time and personal time. Then I block off my work hours.

The next step, I sub-divided my work hours into categories. I reserved the first three hours of my work days, which are my most productive work hours, for high payoff actions. High payoff actions are the ones that yield the highest results for my efforts. My client calls are scheduled twice a week in the afternoons, once in the morning and once in the evening. Emails and phone calls are twice a day – before lunch and at the end of my work day. I end my day with planning for my next. Administrative work is on Friday afternoons.

Develop your own one-week ideal schedule after you have compiled the information you collected from your time audit. Remember to incorporate your observations from the time audit to help you decide the best way to allocate your time. Are you most productive in the mornings or afternoons? You probably have some regular commitments such as morning conference with your team or some monthly networking meetings to attend.

I understand that everyday is different and in the financial world, there are constant changes. Having the ideal schedule will ensure that all elements of your life are covered although you may not be able to commit to it 100% of the time. Having a routine would help you to develop a habit. In my case, this stops my urge to open every email as soon as it arrives at my mailbox. It helps me develop the discipline to always start my day with the most important task in my most productive work hours.

Have a go at your own ideal time schedule. As a financial analyst, you’ll probably have less flexibility over your work hours. The ideal schedule is a guideline. It will incorporate all your components of your life to make sure nothing important is being left out.

Tags: Time, management,, financial, analysts