HARTLAND, Wis. – Society is making lots of financial concessions as a faltering economy continues to challenge lifestyles, but in the case of physicians, time is also a premium that requires planning.

In this month’s Doctor’s Digest (http://www.doctorsdigest.net) periodical, which focuses on Time Management, lifestyle advisor, David Bohl (http://www.slowdownfast.com), introduces the concept of “opportunity cost,” a theory that states that in most cases, to have one thing you must give up another.

A former venture capitalist, Bohl knows the value of concession when it comes to time.  “[Understanding] opportunity cost is about making better decisions,” Bohl said in the Doctor’s Digest section entitled, “Making the Most of Your Off-Hours.” “In this hour, if I don’t do ‘this,’ then I’ll have that hour to spend with my family.”

An example illustrated by Bohl’s theory is when a doctor’s son wants him to coach a soccer team but the doctor has agreed to work with two colleagues on an important research project.

“Take a look at your commitments,” Bohl said in the article. “Do I really have to be on this board?”

Bohl said that whether it’s a physician or sanitation engineer, a person’s skills may be valuable to his or her peers, but one has to live according to his own values to make time decisions.”

Karen Childress wrote the January/February 2009 issue of Doctor’s Digest: Time Management. A bi-monthly publication, Doctor’s Digest focuses on single-topic, non-clinical issues that face physicians. It is recognized by major medical schools, universities and physician organizations for its cutting edge practice management information and is included in curricula and disseminated to practicing physicians, students and associations.

Also a Must-Read: Understanding Opportunity Costs Leads to Better Decisions

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We are told to strive for unattainable lifestyles and to model ourselves after unrealistic, airbrushed models.

Sometimes you need to step back from this virtual reality and ponder what life is really about. Will that Mercedes or those anti-anxiety medications really make you happier, or are they only temporary solutions to deeper issues? Examine these five myths about how you should be living your life and start living the way you want to live.

Myth 1: Material Things Prove Your Worth

Someone once said, “One reason it’s so hard to save money is that our neighbors are always buying something we can’t afford.” Keeping up with the Joneses is certainly no way to live, and the desire to do so stems from a belief that material things prove your worth. Extravagant clothing, houses, and cars oftentimes serve as status symbols in today’s society, but when it comes down to it, what you have in your heart and mind is worth much more than what you’ve got in your wallet. Furthermore, comparing yourself financially to your friends and family will only cause envy and strife. Remember that while luxuries may be enjoyable, they don’t make you who you are.

Myth 2: You Should Always Take an Expert’s Opinion at Face Value

How many times have you taken your car in for a simple oil change, only to be told you need hundreds of dollars worth of repairs in other areas? Have you taken the mechanic’s word for it and shelled out the cash or gone in for a second opinion elsewhere? We tend to rely on experts for advice, whether they are doctors, lawyers, financial consultants, or repairmen, but you can’t forget that even though they are experts, they still don’t know everything. You always retain the power to do your own research or seek out another form of advice. You may find that separate individuals offer different yet complementary opinions that allow you to shape a more informed decision on the issue you are having.

Myth 3: When in Doubt, Medicate

It’s hard to make it through a 2-minute commercial break without seeing an advertisement for some sort of prescription drug. The prescription drug industry has exploded in the past decade, and Zoloft, Prozac, and Ritalin are now part of most Americans’ vocabulary. While there is something to be said for the positive benefits medications have to offer, they are certainly not quick fix on the road to happiness. Before asking your doctor about the latest mood-altering drug you saw on television or in a magazine, consider seeking therapy and using self-improvement strategies to alter your moods instead. Even if prescription drugs are a feasible option for your treatment plan, it’s important to remember that they are not a cure-all. Healing takes time and a repertoire of varying strategies in order to truly come about.

Myth 4: It’s Hip to Be Forever Young

The world today is filled with Peter Pans – adults who don’t want to grow up. Whether they are lacking in emotional maturity or in wrinkles, growing old has become a faux pas for a lot of people. Don’t get the wrong idea. It’s great to feel young at heart and to be physically fit, but it’s possible to do so and still age gracefully. Aging with class involves learning from your past. What’s the point of a life long-lived if you want to act like a child and look like one, too? Gray hair, laugh lines, and a cultivated point of view are things to be embraced, not shunned.

Myth 5: You Can Do It All

Society tends to tell us that multitasking and the ability to juggle lots of things at once is a good thing, but when you have too many things in the air, something is bound to get dropped. Ambition is a good thing, but you have to know when enough is enough. Yes, it’s possible to be a wife, a mother, a businesswoman, and the best baker at the church bazaar, but it’s also okay to say no when your best friend asks you to help her plan a charity gala. When you take on more than you can handle, the quality of your projects often suffers. Don’t feel pressured to be a yes-man. Even the best of us can’t do it all.

There are so many self-improvement blogs, magazines, and websites out there these days, everyone has an opinion on the way you should be living your life. It’s important not to focus on the myths flooding the media but to analyze your situations carefully and live the way that is right for you.

NEWSFLASH: I’ve added another chapter to my life by joining C.A.S.T. Recovery, a Los Angeles based national outpatient drug rehab program which specializes in designing highly individualized recovery plans with appropriate professionals to support a client’s health, accountability, and success.

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If you had a dime for every time someone told you, “life isn’t fair,” you might dethrone Warren Buffet from his seat as richest man in the world. Unfortunately, being aware of life’s inequities doesn’t prevent them. In fact, hardships are virtually guaranteed to occur — it’s just a matter of when and where. So, when disaster strikes, you usually have one of two options – crumble under the pressure or become a survivor. Survivors persevere, but perseverance may not come naturally.

To find out how to be a survivor, read this collection of characteristics of those who keep at it when life gets rough and apply them to your own life.

Ask Questions

Survivors don’t just sit back and let life happen to them. Even though they are in the midst of a breakdown, they use their intuition and ingenuity to pose questions about what is happening to them. And they aren’t simply asking, “why me?”. Survivors use questions to gather information about the situation they are in and how it can be resolved. They also ask questions to learn how to prevent problems from occurring in the future.

See Things in a Different Light

Have you ever been stumped by a brainteaser and decided to let the puzzle simmer in your brain and return to it later, only to come back and find that the answer was right in front of your eyes the whole time? In this same manner, it’s helpful to attempt to find new ways to solve old problems. Survivors don’t get burnt out trying to fit a square key in a circular lock. In other words, they don’t repeatedly try a solution that clearly isn’t helping to solve a problem. To become a survivor, you need to look at things from all perspectives in order to find the best possible resolution.

Be Flexible

One of the absolute pillars of being a survivor is being flexible. Most people are not expecting it when disaster strikes. Therefore, it might be necessary to change your plans to accommodate the new developments.

If you become stressed by the thought of altering your roadmap to life, you will only add to the difficulties that have already been presented to you. Instead, work hard to keep an open mind and bend, don’t break.

Plan Ahead

There is a difference between worrying and planning. Worrying does little to prepare you for future challenges. It only deprives you of the time spent fretting over impossible-to-predict scenarios. Planning, on the other hand, is a practice used by survivors to allow them to effectively handle hardships when they do occur. For instance, keeping a first-aid kit in your house is a positive way to be ready if someone gets hurt. Worrying about your child scraping her knees every time she leaves the house is not. Survivors certainly aren’t psychic, but their ability to make effective and quality plans in advance of trouble’s wake allows them to rise above the ashes when the flames have been put out.

Set Goals

Goal-setting is an excellent strategy that allows you to step back and view a situation from an outsider’s perspective. Survivors can remove themselves from what is happening to them and see things rationally, which allows them to make benchmarks for restoration. You can set goals for how to deal with current problems or how to handle them in future settings. The idea is that you use goal-setting as a tool to step out from behind the “victim” title and become someone who makes the most of what they’ve got.

There is no telling what sorts of trials and tribulations you will go through in life, but there are always options as to how you can deal with it when these trials occur. Perseverance may be difficult, but there is always a light at the end of the tunnel. To be a survivor, you must simply use techniques and tactics that allow you to tackle your problems effectively and with an eye to the future.

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Here are the 12 Most-Read Numbered Posts in 2008 at Slow Down FAST:

12.    5 Tips for Becoming a Better Listener
11.    5 Qualities of Successful Relationships
10.    6 Ways for Effecting Change in Your Life
9.      6 Questions to Ask Yourself Before Busting Out of the Rat Race
8.      5 Signs It’s Time to Slow Down Fast
7.      6 Ways to Be a Friend Without Involving Money, Gifts or Obligation
6.      5 Ways to Reconnect to Your Inner Child
5.      10 Great Productivity Web Sites
4.      5 Signs You’re a Pleaser and What to Do About It
3.      5 Simple Tricks To Make You Smarter
2.      8 Essential Ingredients to Master Your Time
1.      The Causes and Cures of Procrastination

Thank you all for your support throughout the year, and best wishes in all your future endeavors.

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So, after 700+ posts in 2008, I’m publishing the 12 Most Read Posts at Slow Down FAST so we can all get a jump on the new year.

Thank you all for your support throughout the year.

Here they are:

1. The Causes and Cures of Procrastination
2. Mindhacks: 5 Ways to Increase Creativity, Productivity and Intelligence
3. How to Overcome the #1 Fear: Public Speaking
4. 8 Essential Ingredients to Master Your Time
5. Do Not Wage Psychological Warfare
6. Stuck in a Rut? Fire Up Your Creativity with These 7 Steps
7. What Are You Passionate About?
8. See How Easily You Can Handle Change
9. How to Maintain Professional Boundaries
10. 5 Simple Tricks To Make You Smarter
11. 5 Signs You’re a Pleaser and What to Do About It
12. From Greedy to Grateful – Appreciating What You Have

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“As a business owner, I’ve learned about several effective tools needed to run an efficient business. I utilize systems, strategies, and support, to keep my business running smoothly and profitably. And I’ve seen how if I apply some of these same tools to my personal life, I can streamline it as well.

So whether you have your own business, work for a company, or run a household, if you manage your life like a business, I can guarantee you’ll be surprised at the results. Here are some tips taken from my experience that can be valuable for streamlining your life:”

Read the rest of Get Prepared to Streamline Your Life.

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Since I work closely with a lot of people in my coaching practice, I’m an astute observer of human behavior. I listen to my clients’ complaints about the people in their lives and find common traits of these “problem” people. I also listen to the traits my clients find admirable, ones they would like to aspire to in themselves. So, I advise them to surround themselves with more of these kinds of people, the ones who have characteristics that make them stand out, make them special, and make people want to be around them.

These are some of the essential qualities I and my clients admire in quality people! You may find different ones that work best for you. I call these characteristics the 6 H’s.

1. Honest:

There’s no question in my mind that honesty is always the best policy. I love being around honest people, because they are unafraid to reveal themselves. They may not share every detail of their lives, but they are open, approachable, and real. And if you ask for an opinion or feedback, you will get the truth. They will hopefully be tactful and positive, but they won’t say what you want to hear just to keep the peace. Surrounding yourself with honest people is so refreshing, since we encounter many superficial people in our personal and professional lives.

2. Hard-working:

If you want something done, ask a busy person. Hard-working folks are committed, focused, and do what they say. I don’t necessarily mean workaholics, I’m just referring to those who do good work, enjoy their work, and care about their clients or customers. I love getting my hair cut by a hair stylist who loves what s/he does. I really enjoy taking my car to a mechanic who cares enough to tell me what he’s done on my car. These people have an old-fashioned work ethic, and it’s a inspiring to surround yourself with them.

3. Healthy:

I don’t find too many people in this category, however, those who are healthy in body, mind, and spirit are great teachers and mentors. I always want to know how they find the time and energy to eat right, work out, practice positive mindset, and balance it all so well. Many of my coaching clients struggle with one or several of these areas. They may have a well-functioning body but are challenged by their negative thoughts. Or they may be a happy, spiritual being who has weight issues. Even you find people who are healthy in one of these areas of mind, body, or spirit, learn what you can about how they got there and how they maintain their status. You may even ask them to coach or mentor you until you reach your goal.

4. Humorous:

We all need to learn to laugh at ourselves and at the foibles of life. Nothing is perfect, your expectations will not always be met, and people and life will disappoint you. Having a sense of humor can be a saving grace. I so admire people who can find the humor in difficult situations and who laugh easily. What a gift! Surround yourself with as many of these people as you can. They will certainly lighten your load. You may even learn to tell a few jokes!

5. Happy:

Who doesn’t want to be around happy people? Their joy is contagious. There are some people who seem to be happy for no reason, no matter what is going on in their lives. They see all of life–the highs and the lows–through their lens of happiness. Their attitude allows them to see the best in everything and everyone. They are great teachers, so make sure you surround yourself with happy people.

6. Helpful:

Supportive, generous, helping individuals are great to have around. They are amazing listeners. You can count on them when you’re down and need someone to talk to and when you’re up and you want a partner to celebrate with. They’re the ones who are active in causes and charities, have close relationships with family and friends, and work in the helping professions like doctors, teachers, and coaches. You want to have a few of these in your address book for emergencies!

Know that the more you surround yourself with people who have characteristics you admire, the more those characteristics will rub off on you!

Personal Coaching Package for all needs and budgets. Explore our Coaching Packages page to learn which coaching plan is a fit for you.

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Thanks to Widow’s Quest for featuring this article in the Carnival of Positive Thinking, to Insight Writer for publishing this post in the Carnival of Personal Development, to Rich Life Carnival, and to 24 Hour Paradigm for including this article in the Day Shifting and paradigm Carnival.

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“If you want to spur creativity, capture and hold attention, and promote innovation and interaction, you need to create a space that stimulates the creative, social side of the brain – the right side”

Read the rest of Can You Improve Meetings with Right-Brained Thinking?

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“Imagine that the subconscious mind as the puppeteer pulling the strings of the conscious mind. It’s like an enormous warehouse storing all the experiences, impressions, ideas, lessons, and beliefs you’ve ever had. It’s like your computer’s hard drive, that is, if you save your data! And back it up. So when the conscious mind needs to make a decision, for example, it pulls up data from its storehouse or hard drive to help make an informed choice. Now all this is pretty much done unconsciously.”

Read the rest of Harnessing the Power of Your Subconscious Mind.

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Maybe you have a talent that you are offering as a service to clients such as massage, consulting, or financial planning. Or maybe your business is selling a product like clothing, wines, or information products. Whatever your plan involves–services or products–managing your own business takes certain skills beyond the specialized knowledge that makes you good at what you do.

If you don’t learn the skills of running and managing your business, you may find yourself experiencing some of these common pitfalls. If you do experience them, acknowledge where you are, then take measures to overcome them.

 Common Pitfalls of Managing Your Own Business:

1. Not having a business plan and a marketing plan.

A business plan is a roadmap for success and a marketing plan is a schematic for every day marketing activities. Many entrepreneurs believe they can get away without a business plan if they’re not seeking outside funding, but business plans are not just for investors. They guide you to where you want to go in your business. If you don’t have a plan, find a business consultant or SCORE counselor to help you write one. You can work with a marketing consultant or SCORE counselor to develop quarterly marketing plans to track what marketing activities give you the greatest results.

2. Not doing financial projections and monthly reports.

Most business owners are only concerned with how much money is coming in. But that’s only gross profit, and your business success is based on net profit–how much is left after expenses. A major pitfall of business owners is not doing financial projections. You need to chart out for one year what income you expect and your estimated expenses, both fixed and variable. Use an Excel spreadsheet or have your accountant do it in QuickBooks. When they run your monthly profit and loss statement, make sure they explain what the numbers mean. You must know your bottom line each month to manage your business successfully.

3. Not having enough capital or reserves.

Some businesses need an infusion of capital when they start out. You may need to borrow funds for renting your location, purchasing inventory, or outfitting your office. If you were unable to borrow, you might have gotten personal loans or you started on a shoestring. With little capital, you probably don’t have much in reserve. Business advisors suggest having at least six month’s to a year’s worth of expenses in the bank. This pitfall causes the demise of many businesses. Build up your reserves whenever you have any surplus.

4. Not being knowledgeable in your field or about business.

Do you have formal training in your industry? Have you studied how to run a business? Not having enough knowledge, skill, or training in your specialty or in business is a major pitfall. How will you compete against more skilled practitioners? How will you know the best quality products to buy and the best prices? You can open a business and then get more training and education as you go along, because ongoing training will keep your skills sharp and current. And you’ll want to get educated in all the nuances of managing a business from financials, to customer service, to employee relations, and more.

5. Not checking the competition or staying current with industry trends.

You can’t ignore the competition or pretend you don’t have any. It’s not spying, but you must know who your competition is and what they are up to. Can you provide better, faster, or a different service? Can you offer deeper discounts, better quality, or follow-up support? Find out what your competition is doing and offer something more. Read industry journals and stay current with what is going on in your industry. You have to be the best to stay on top, and it only takes a little time each week to do your homework.

6. Not tracking, measuring, following up, or following through.

How can you know how successful you are if you don’t track your results? Did this marketing campaign attract more visitors to my website? If not, what can I do to improve my results? Learn how to track and measure your business and marketing activities. Also, make sure you follow up and follow through. If you send out postcards and offer a free 30-minute consultation, make sure you provide it to those who respond. If you advertise an open house for client appreciation day, follow through and hold the event. Clients and prospects will lose faith in you if you don’t keep your word.

7. Poor customer service.

Have you heard the expression, the customer is always right? I have some coaching clients who run retail operations and they say that they train their staff to give 110% when it comes to customer service. Satisfied customers provide additional revenue in the form of return business and referrals. However, dissatisfied customers can do a lot of damage by spreading the word about your poor service. See the long-term value of happy customers and do everything in your power to make this a top priority. Without customers, you have no revenue!!!

8. Burnout from overworking and doing everything yourself.

Enthusiastic entrepreneurs wear a big “S” on their chests thinking they are Super Business Owner! I can do everything myself. If I want it done right, I have to do it. That works fine until you find yourself getting about five hours of sleep a night and making errors during the work day. Start looking at what you can delegate and find top quality, affordable contractors or employees to take some of the load off. After all, all work and no play makes for a very unhappy business owner. If you’re so stressed out, how can you enjoy the fruits of your labor?

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