Managing Your Energy During This Difficult Time

Unmade decisions add to our stress level and fear keeps us in survival and paralysis mode. It can make us feel like we have no control and then leaves us with regret and guilt, frustration and irritation. Imagine the difference in the quality of your sleep if you could manage your stress, fear, and anger. Whether you focus on this principle or not, you are creating your outcome. If you want better sleep, you must interrupt your current pattern. Emotions are the fuel to living your purpose and achieving your goals. It is time to ignite them and tap into your own potential. Acknowledge the fear. Understand the message/lesson. Use the fear as your guide or teacher and not as a reason to stop you. In order to go from a place of pain to power, you have to cross the bridge of fear! When you get angry, look at what triggers you. There is always a pattern.

How Many More Days?

Look for clues as if you’re watching the scene as an audience member watching a movie and not as a participant or an actor in the movie. Once you know what it is, you can decide how to react. Unfortunately, stress is a part of life. But you can better manage your stress when you watch out for triggers. We’ve looked at ways to feel safer in our body and to prepare ourselves for a deep and relaxed sleep that ensures regenerative healing for the entire body. These 5 steps are great best practices that will help you begin your journey for a great night’s sleep! I help mompreneurs safeguard their business so that they can protect their income in the face of a pending divorce. My mission is to help you plan for the best but prepare for the worst. Nobody gets married thinking their marriage will end in divorce, but I don’t want you to lose all that you’ve worked so hard for if it’s possible a divorce is in your future. The one thing every mompreneur needs to know when she’s concerned that she’ll lose her business during a marital division of assets is that it is absolutely possible to protect her business and retain her ownership as long as there is careful planning. This may seem obvious, but you need to know your business inside and out. It’s easy to delegate tasks we hate doing to someone else, which can mean disengagement with the important details of your business. This can lead to you not having your finger on the pulse.

Another Year Has Gone By

Every mompreneur needs to have some basic financial education to understand what’s driving her income. Do you know what your biggest revenue stream is? Do you know what your ongoing expenses are? Do you know what your business is worth and how that would be calculated in the marketplace? Does your business have any inventory, equipment or other physical assets? If you sold your business today, what could you get for it? Where did you get the money to start your business? Is your business considered an asset or only a source of income? Create a binder, or if you prefer to do things online, like I do, create online records that you update quarterly with your most important business information. Maintain all licensing and permit information. Have a comprehensive list of your customers with all their contact information and sales history. Maintain original signed copies of all legally executed contracts. Remember that contracts should be maintained for a period of seven years. I suggest you keep clear records of any personal capital that you invested. If any of the money that you invested in the business was earned prior to the marriage or gifted to you or inherited, make sure to document where it came from. This can all be used to show that at least a portion of your business is not part of the marital estate. Whether you’re getting divorced or not, it’s important to think strategically about your business. I know it’s not the most romantic thing to think about, but it’s also not romantic to work so hard to build your business and then lose half of it due to a divorce. If you’re not yet married, consider a prenuptial agreement.

Lamb To The Slaughter

If your future spouse will not sign a prenup, you may need a Domestic Asset Protection Trust. Consult with an attorney to determine your best option. If you’re already married, a postnuptial agreement might make sense. However, beware that postnups have not been universally upheld by the courts. Still, having the agreement in place does make your intentions for the business clear. Make sure you’ve included as much protective language as possible. Some people refer to it as a buyout agreement or a business will. Regardless of what you call it, the purpose is the same. With respect to a divorce, it details what happens to a business should any owner get a divorce. The agreement can limit a spouse’s ability to acquire ownership or exclude a divorcing spouse from having voting rights. It could also give you and the other partners the right to buy the interest awarded to your ex at a predetermined price. Regardless of whether a divorce is in your future, keeping business and personal finances separate makes good business sense for a variety of reasons. In the case of a divorce, commingling business and personal expenses could hurt your settlement. I suggest that you pay yourself a market salary. If you pay yourself something that’s below the market rate, your spouse might make a case about how it has negatively impacted your family’s cash flow. As a result, he may be entitled to a greater percentage of the business or a portion of future business profits. I also suggest that if your spouse works at your business, that you pay him the market rate for his services as well. Otherwise, he could seek a bigger percentage of the business value due to his contribution during the divorce proceedings. That’s why it’s important to consider how your business will continue to stay afloat during this stressful time.