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Chapter 4 planning for success

Chapter 4 planning for success. 4.1 4.2. goal-setting personal organization. Describe the five aspects of S.M.A.R.T. goals Explain the benefit of applying the 80/20 rule to your career Clarify the three basic steps to managing your personal earnings

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Chapter 4 planning for success

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  1. Chapter 4 planning for success 4.1 4.2 goal-setting personal organization Chapter 04 Planning for success | advance organizer

  2. Describe the five aspects of S.M.A.R.T. goals • Explain the benefit of applying the 80/20 rule to your career • Clarify the three basic steps to managing your personal earnings • State the benefits of using the ABC method of prioritizing time • Identify the different effects of positive and negative stress Chapter 04 Planning for success | advance organizer

  3. goal-setting 4.1 S.M.A.R.T. GOALSTHE 80/20 RULE Chapter 04 Planning for success | Goal-setting |advance organizer

  4. S.M.A.R.T. GOALS Goal: Specific target; benchmark of achievement that can be attained within a specific timeframe • Stepping stones that keep usheaded in the right direction • S.M.A.R.T. goals are: • SPECIFIC • MEASURABLE • ACTION-ORIENTED • REALISTIC • TIMELY Chapter 04 Planning for success | Goal-setting |S.M.A.R.T. GOALS

  5. S.M.A.R.T. GOALS SPECIFIC • State what you want to accomplish • Greater chance of accomplishment because they focus energy and attention on what matters • Answer most of the “W” questions: who, what, whereand when Chapter 04 Planning for success | Goal-setting |S.M.A.R.T. GOALS

  6. S.M.A.R.T. GOALS MEASURABLE • Help organize and track progress • Contain concrete benchmarks for determining how close or far you are from achieving the goal • Usually expressed with numbers • Lend themselves to creating a checklist Chapter 04 Planning for success | Goal-setting |S.M.A.R.T. GOALS

  7. S.M.A.R.T. GOALS ACTION-ORIENTED • Contain one or more observable behaviors • Use action verbs and outwardly observable actions Chapter 04 Planning for success | Goal-setting |S.M.A.R.T. GOALS

  8. S.M.A.R.T. GOALS REALISTIC • One that you truly believe can be accomplished • You are the only one who can decide if a goal is realistic • With experience, your goals will become more realistic Chapter 04 Planning for success | Goal-setting |S.M.A.R.T. GOALS

  9. S.M.A.R.T. GOALS TIMELY • Help prevent procrastination • Can be accomplished in a reasonable, realistic time period • Take into account the level of challenge and the means necessary to accomplish the goal when setting deadlines Chapter 04 Planning for success | Goal-setting |S.M.A.R.T. GOALS

  10. THE 80/20 RULE A consistent, universal pattern of distribution • Italian economist Vilfredo Pareto discovered that 80 percent of the wealth was held by 20 percent of thepeople in Britain, Italy, France, Switzerland and Americain 1897 • Pareto concluded that the 80/20 pattern of distribution represented a consistent, universal principle • Joseph M. Juran applied Pareto’s principle to business in 1951 and proved that in most businesses 80 percent of the profits are generated by less than 20 percent of the work, effort and resources Chapter 04 Planning for success | Goal-setting |THE 80/20 RULE

  11. THE 80/20 RULE • Work smarter instead of harder by giving attention to the 20 percent of your professional life that will gain you an 80 percent return on your energy • High achievers find and focus on the vital 20 percent of efforts that will produce 80 percent of their results • Gives you a high-impact strategy for working effectively Chapter 04 Planning for success | Goal-setting |THE 80/20 RULE

  12. personal organization 4.2 Budget basicsTime-saving strategiesstress management Chapter 04 Planning for success | personal organization |advance organizer

  13. personal organization Important to prepare for three challenges you will face as you transition from school to work: • Budgeting money • Organizing time • Reducing job-related stress Chapter 04 Planning for success | personal organization

  14. BUDGET BASICS THREE BASIC STEPS TO MANAGING YOUR PERSONAL EARNINGS: • Know how much money you earn • Spend less money than you earn • Save what you don’t spend Chapter 04 Planning for success | personal organization | BUDGET BASICS

  15. Income: Money that “comes in” that you earn or receive Gross income: Total amount of money you actually earn(also known as gross pay, gross salary or gross wages) Net income: Amount of money in your paycheckafter deductions have been taken out (also known as spendable income) • Understanding Your Income and Expenses • GROSS INCOME − AUTOMATIC DEDUCTIONS = NET (SPENDABLE) INCOME Chapter 04 Planning for success | personal organization | BUDGET BASICS

  16. Expense: Money that you spend or pay out Expenses: Specific items you spend money on; reflect your needs, wants and values Discretionary expenses: Nonessential expenses • Understanding Your Income and Expenses Chapter 04 Planning for success | personal organization | BUDGET BASICS

  17. Budgets: Systematic plan for the estimated income and expenditure of money over a specific period of time • Usually prepared first for one month and then expanded to an annual, 12-month budget • Easy Budgeting Chapter 04 Planning for success | personal organization | BUDGET BASICS

  18. THREE-STEP PROCESS TO PREPARING A BUDGET: • Forecast your income and expenses for the next month • Enter what your income and expenses actually were for the month • Calculate the difference between what you planned and what actually happened, called the variance • Easy Budgeting Chapter 04 Planning for success | personal organization | BUDGET BASICS

  19. Improving Your Financial Position Three very clear options: • Increase Income • Decrease Expenses • Do Both – increase income and decrease expenses Monitor and reduce your expenses regularly, no matter how much money you make Chapter 04 Planning for success | personal organization | BUDGET BASICS

  20. Suggestions for reducing expenses: • Reduce the cost of your biggest expenses • Shop around when buying big expense items • Avoid impulse purchases • Cook at home more often • Pay cash and avoid paying interest charges and/or late fees • Handle money problems in a way that protects your credit rating • Improving Your Financial Position Chapter 04 Planning for success | personal organization | BUDGET BASICS

  21. Suggestions for increasing expenses: • Book more appointments • Increase the average ticket for each client • Earn more interest income by keeping money in a savings account • Continue education to expand job opportunities • Check to be sure you are not having too much money withheld from your paycheck for taxes • Improving Your Financial Position Chapter 04 Planning for success | personal organization | BUDGET BASICS

  22. Suggestions for building your financial safety net and saving for the future: • Create a “rainy day” fund • Open an IndividualRetirement Account • Take advantage of youremployer’s retirement plan • Improving Your Financial Position Chapter 04 Planning for success | personal organization | BUDGET BASICS

  23. TIME-SAVING STRATEGIES Make the most of every minute you have so that you accomplish what you want When you maximize your time, you will find it much easier to: • Be on time for appointments • Keep work areas clean and orderly • Accommodate clients with additional service requests • Accommodate walk-in clients • Avoid being rushed Chapter 04 Planning for success | personal organization | time-SAVING STRATEGIES

  24. Focus on what is happening now • Be “present” in the moment • Keep balancein your life by dividing time appropriately between professional, social and personal life • Treat your time like the precious commodity it is; lost time can never be reclaimed • Meaning and Balance Chapter 04 Planning for success | personal organization | time-SAVING STRATEGIES

  25. The ABC Prioritizing Technique Prioritize: Rank items in order of their importance • Making a prioritized to-do list is one way to focus your use of time and make sure that everything gets done • Use the following code: Absolutely must be accomplished today – high priority Be done before the end of the week – medium priority Complete within the month – low priority Chapter 04 Planning for success | personal organization | time-SAVING STRATEGIES

  26. Steps to using the ABC technique: • Make a list of the things you need to do • Assign each item on your list with an A, Bor C priority • Review the status of each item at the end of the day, checking off all the items completed • Reassign priorities to remaining items if appropriate • The ABC Prioritizing Technique Chapter 04 Planning for success | personal organization | time-SAVING STRATEGIES

  27. Procrastination: Putting off an activity that is unpleasant or burdensome • Causes unpleasant tasks to weigh heavily on your mind • Causes anxiety and usually produces a substandard result • Eliminating Time-Wasters Chapter 04 Planning for success | personal organization | time-SAVING STRATEGIES

  28. COMMON BARRIERS TO EFFECTIVE USE OF TIME • Eliminating Time-Wasters Chapter 04 Planning for success | personal organization | time-SAVING STRATEGIES

  29. COMMON BARRIERS TO EFFECTIVE USE OF TIME • Eliminating Time-Wasters Chapter 04 Planning for success | personal organization | time-SAVING STRATEGIES

  30. COMMON BARRIERS TO EFFECTIVE USE OF TIME • Eliminating Time-Wasters Chapter 04 Planning for success | personal organization | time-SAVING STRATEGIES

  31. Develop and implement habits to: • Guard quality sleep time • Organize your work space • Make a daily plan to manage your activities • Eliminating Time-Wasters Chapter 04 Planning for success | personal organization | time-SAVING STRATEGIES

  32. STRESS MANAGEMENT Unmanaged stress can lead to anxiety, anger, tensionand illness TWO CATEGORIES OF STRESS: • Positive Stress: Reaction to positive and motivating experiences that are nonthreatening to your existence; also called eustress. • Negative Stress: Reaction to physically or emotionally threatening experiences; also called distress. Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  33. STRESS MANAGEMENT • Positive Stress • Can result from getting married, having a baby, winning a competition or getting a promotion • People adapt and adjust, feeling competent, challenged and able to cope • Negative Stress • Usually caused by unwelcome change that cannot be avoided • Managing stressors reduces fatigue and encourages more peace of mind Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  34. Stress response is an alert signaling that pressures and demands are beyond our ability to cope effectively • Occurs automatically when you feel threatened or overwhelmed • Pituitary and adrenal glands respond to perceived threat by stepping up the release of hormones • Hormones focus your concentration, speed your reaction time and increase your strength and agility; return to normal when situation is resolved • Causes and Effects of Stress Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  35. If stressful situations recur one after another, your body has no chance to recover • Long-term stress can disrupt your body’s processes, increasing your risk of obesity, insomnia, digestive complaints, heart disease and depression • Causes and Effects of Stress Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  36. Effects of Stress Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  37. Take care of your body • TCOB - Take care of business by taking care of your body Simplify your life • Know the difference between what you want and need Relax • Physical exercise, yoga, tai chi, meditation and massage are ways to relax your muscles and mind Shift your outlook • Look at situations in a more positive way • Coping With Stress Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  38. DO ANYWHERE, DO ANYTIME, RELAXATION TECHNIQUES Time-Out • Stop what you are doing, leave the room, and think about something else for a few minutes Power Walk • Release pent-up energy or fight fatigue by taking a brisk walk Calm, Deep Breathing • Calm yourself by letting out a few deep sighs to increase the oxygen flow to your brain and regain focus • Coping With Stress Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  39. Coping With Stress DO ANYWHERE, DO ANYTIME, RELAXATION TECHNIQUES Muscle Relaxation • Tighten neck muscles for a few seconds and then release; do the same with shoulders • Rotate neck and shoulder blades, repeat process a few times • Tighten muscles of the toes and feet, holding for a few seconds and releasing • Move up to calves, then thighs and so on until you have repeated the process with every muscle up to your neck and face Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  40. Coping With Stress DO ANYWHERE, DO ANYTIME, RELAXATION TECHNIQUES Laughter • “Laughter is the best medicine” • Keep your sense of humor • Find opportunities to smile and laugh throughout the day Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  41. QUICK TIPS TO REDUCE AND COPE WITH STRESS: • Write it down • Plan ahead • Fix it now • Choose upbeat friends • Create order out of chaos • Do one thing at a time • Coping With Stress Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  42. STRESS MANAGEMENT Reminder: It’s Okay to Ask for Help • Don’t be afraid to seek help if stress is getting the better of you • Professionals help you recognize the signs that indicate pressure is building, teach you techniques for releasing the stress, and support you in the process Chapter 04 Planning for success | personal organization | STRESS MANAGEMENT

  43. All successful careers begin with the personal determination to achieve meaningful goals • The ability to focus attention and energy on what’s truly important is a common attribute of high achievers • Personal organization will conserve the energy and resources you will need to face the inevitable challenges of planning for success Chapter 04 Planning for success | lessons learned

  44. Real world scenario Apply your knowledge to resolve the situations or actions in the following scenarios Chapter 04 Planning for success | Real world scenario

  45. Real world scenario • Jose is 19 years old and 2 months away from completing his salon training. He is ambitious and has big plans for his future. Jose has set his goal for himself: “I want to own my own salon by the time I am 30 years old. It will have 12 design chairs and 3 esthetics areas, and it will be located in an upscale suburban town with a population of 50,000 to 75,000 people.” Is Eric’s goal a S.M.A.R.T. goal? Why or why not? Chapter 04 Planning for success | Real world scenario

  46. a. Yes, this is a S.M.A.R.T. goal because it is realistic and has specific, measurable components. • Real world scenario Chapter 04 Planning for success | personal organization | real world scenario

  47. b. No, this is not a S.M.A.R.T. goal because it is not action- oriented and it is not timely. • Real world scenario Chapter 04 Planning for success | personal organization | real world scenario

  48. c. No, this is not a S.M.A.R.T. goal because it is too long; a S.M.A.R.T. goal should be stated in no more than one sentence. • Real world scenario Chapter 04 Planning for success | personal organization | real world scenario

  49. d. Yes, this is a S.M.A.R.T. goal because it is long, complete, and gives a clear picture of what Jose wants to achieve. • Real world scenario Chapter 04 Planning for success | personal organization | real world scenario

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