Is the Xbox Game Pass worth the money?

Find out more about getting more than 100 games for just $10 a month.

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The Kids Can Now Play Unlimited Games at Chuck E. Cheese

Being a parent is expensive. And exhausting.

You’d think taking the little ones to a pizza and games place like Chuck E. Cheese would bring some distraction-induced reprieve. But alas, they’re coming at you every five minutes for more tokens.

Not today, children.

Behold the new All You Can Play game option (aka the savior of parental sanity), now at participating Chuck E. Cheese locations nationwide.

How Chuck E. Cheese All You Can Play Works

For one flat fee, kiddos can play unlimited games without exception for a selected amount of time.  

Currently, unlimited game time comes in 30-minute increments starting at $9 with any Chuck E. Cheese deals purchase and is good any day of the week.

Watch that ticket pile grow as your kids’ hearts swell, because there’s no game too big or small for their young ambitions.

They can play the same game over and over, or try every single one and rack up enough tickets to trade in for their dream prize.

Need a potty or pizza break? No problem. You get the option to pause play twice during the unlimited window. Once the time is up, you can purchase additional 30-minute windows of time as needed.

They might just wear themselves out for less than $20. Might.

Check that All You Can Play is available at your Chuck E. Cheese location before you go.

Since you’re already there, stretch those savings with a free pizza, because why should the kids have all the fun?

Stephanie Bolling is a staff writer at The Penny Hoarder. She really misses Munch’s Make Believe Band.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Stressed Over the Cost of Back-to-School Shopping? Here Are Ways to Save

Stores are already replacing their summer-themed displays with backpacks, lunch bags, notebooks and folders.

Back-to-school season is quickly sneaking up on us, and parents are stressing out over the upcoming costs.

The National Retail Federation surveyed 7,320 consumers and found parents with kids in elementary through high school expect to spend an average of about $685 on back-to-school shopping this year. New school clothes will take up the biggest chunk of spending — about $237.

Parents also planned to spend about $187 on electronics, $139 on shoes and $122 on school supplies.

With schools requiring a specific list of gear and kids quickly outgrowing their old clothes and shoes, much of this spending seems to qualify as a need, not a want. Which makes cash-strapped parents nervous.

The 2018 Coinstar Back-to-School Survey, an unrelated survey on the same topic, asked 1,001 parents about their school shopping plans. Seventy percent said back-to-school shopping is stressful. Two-thirds of respondents said they felt like school costs were on the rise.

Although 62% of those surveyed say they use a budget when school shopping, a sizable chunk also say they go over budget. Thirty-two percent of parents who shopped alone spent more than planned, but 49% of those who shopped with their children overspent. It’s hard to say no when your kids are right there pleading for the latest trend.

Besides keeping your children home while you shop, there are other ways to curb your back-to-school spending.

Seek out sales, clip coupons, take a pass on pricy brands and shop at secondhand stores to score better deals. Get some tips from this mom who bought her two kids school clothes for less than $40 and school supplies for less than $20. Shop during a sales-tax holiday to shave some dollars off your total. Deal stacking can also help you save.

Look for backpack giveaways in your area. Charities, churches and nonprofit organizations may run school-supply drives where community members donate book bags and other supplies to those in need. Contact your local Salvation Army or United Way to see if they are planning a giveaway — or know of any other groups hosting one. Your local newspaper or television station may promote upcoming school-supply drives. Reach out to the organizers if you’re in need.

Some parents also ask their older children to chip in, especially if they are influencing the spending.The National Retail Federation’s survey found preteens will spend an average of $25 and teens will spend about $36 of their own money on school gear. It’s not a lot, but a little contribution is better than nothing. Other parents turn to extended family for help. One-third of respondents from Coinstar’s back-to-school survey said they’ve borrowed money from their child’s grandparent to afford school gear.

Nicole Dow is a senior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Can An Identity Thief Change Your Home Address? Yet Another Trick Identity Thieves Can Use

The US Postal Service makes it easy to forward your mail to a different address. Maybe too easy. Learn how identity thieves can steal your private mail.

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Target Hopes Its One-Day Online Sale Will Make You Forget Amazon Prime Day

While Amazon prepares to power through 36 hours of Prime Day deals, Target is joining the summer shopping frenzy with its own sale.

Available on July 17 only, Target will offer discounts across entire departments and special deals on popular items. No need to grab your car keys — all the deals are online.

“[This] one-day sale is for everybody — no membership required,” Target said in a statement last week, emphasis theirs.

Expect more of this, innocent summertime shoppers.

Walmart.com is advertising “ultimate summer specials” on its site, reminding shoppers that it offers free two-day shipping without a membership fee.

Macy’s is offering a “surprise” sale through Tuesday with free shipping and 25% off in some departments. “Look what you can get for under $119!”, a slide on the homepage blurts out.

Even if you don’t plan to shop on Amazon Prime Day, you must still face constant reminders of Amazon Prime Day.

But back to the Target deals, before you get summer shopping event fatigue.

Target’s home brands will be 30% off all day, along with baby gear and some Google products. Beauty and personal care items will be marked down by 25%. Additionally, if you spend $20 on books, you’ll save $5.

If you spend at least $100 on Target.com during the sale, you’ll get a free six-month Shipt membership, which provides same-day delivery from the store. Annual Shipt memberships cost $99.

Meanwhile, if you place a Target Restock order for next-day delivery during the event, you’ll receive free shipping instead of the typical $2.99 delivery fee.

Target’s online, one-day sale will start “early in the morning” on July 17 and end at 11:59 p.m. Central Standard Time.

Lisa Rowan (@lisatella) is a senior writer at The Penny Hoarder covering the retail and grocery industries.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Questions About Auto Insurance, Prime Day, Social Security, Watches, and More!

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to summaries of five or fewer words. Click on the number to jump straight down to the question.
1. Teen’s first steps for investing
2. Part time auto insurance
3. Thoughts on vacation cruises?
4. Starting my financial journey
5. Helping sick friend
6. Dealing with a “funk”
7. Prime Day strategies?
8. Expensive watch guilt
9. Minimize risk in Roth IRA
10. Getting started with Social Security
11. Books on mindfulness and meditation
12. The Simple Dollar and dating

We spent the weekend camping. It turned out to be a weekend with a lot of rain and, during the windows when the rain stopped, intense heat and humidity. My entire family came home after a few days feeling utterly drained.

It’s the good kind of drained, though. It’s the kind of drained where you’ve had a ton of sunshine and fresh air and exercise and sweat and laughter.

It’s good to be home, though.

Q1: Teen’s first steps for investing

I am a teen working on a part time job at Publix getting paid from $60 to $80 a week and how can I invest in making more money?
– James

The very first thing you should do is figure out what your goal is with that money. What do you want to someday do with it?

The biggest thing you should be concerned with is volatility. Volatility refers to how large the range of reasonably possible outcomes is for that investment, particularly in the short term (a year or less). For example, a stock market investment has a large one year volatility, but people still invest in it because the average annual return over many, many years is quite good. On the other hand, a savings account has extremely low volatility, but the average annual return isn’t nearly as good.

So, if you’re going to use the money soon, a low volatility investment is good, but if you’re not going to use it for many years, a high volatility investment is good.

So, what’s your purpose? Is it to pay for college? College is likely coming for you within the next 2-3 years, in which case you should put it in a low volatility investment, like a savings account. Consider opening a 529 college savings account and putting your money in there in an investment marked as “low risk.”

What if you’re aiming for post-college expenses, like buying a house or saving for retirement? In those situations, a higher volatility investment, like the stock market, is a good idea. Consider opening up a Roth IRA and putting your money into a total stock market index.

Q2: Part time auto insurance

I am shopping for car insurance. I have four vehicles. I am retired and spend 5 months in Florida. I normally have one or more vehicles garaged for several months. Can I easily switch to a “storage” rate for these vehicles when not being driven for a few months?
– Andrew

Most auto insurers enable you to do this whenever you like, though with a few caveats.

For starters, for most auto insurers, “storage” rate usually just means that you’re removing liability and collision coverage and just paying comprehensive coverage on the vehicle, which protects it from things like fire and theft, but covers nothing if you’re actually driving it. That’s usually quite cheap.

Most insurers will allow you to make that switch easily provided you maintain driving coverage on at least one car on the policy. So, if you have four cars and you sometimes put two of them into storage, this can easily be done with a phone call, reducing your insurance rates.

However, some insurers may require a thirty day waiting period before downgrading your insurance.

Q3: Thoughts on vacation cruises?

Any thoughts on vacation cruises? Are they a good deal or not? The price tag is steep but they’re providing all the food and entertainment and taking you to interesting places.
– Sam

I haven’t been on a cruise, though I have several family members who have done so. I think it really depends on the type of vacation you’re looking for.

If you’re looking for a relaxing vacation where most of the planning and options are already handled for you and you’re mostly just going to eat meals, catch up on some reading, watch the sea, do a few leisurely activities, and do a couple of shore days mixed in, then a cruise is great. The prices tend to be pretty reasonable for what you get as an all-inclusive package, though this depends a lot on the cruise line, the specific ship, and the destination.

If you want a more active vacation, though, cruises probably aren’t the thing for you. If your vision of vacation is “hiking in the backcountry” or something akin to that, a cruise isn’t going to match up.

Q4: Starting my financial journey

I am eighteen years old. I graduated high school in May and am about to enter [a well regarded state university with a good engineering program] in the fall to major in electrical engineering. I have some scholarships and my aunt and uncle are paying for the rest for all four years, so I am very lucky.

My goal is to reach a point where I can retire as early as possible. I want to do things like walk the Appalachian Trail and backpack across Europe and Asia and Africa aimlessly while I am still young and without having to return to pick up a career. If I want to come back I can but if I want to stay in Kenya for some reason I can. That is my dream.
– Sara

Spend your college years focused on getting the best possible electrical engineering job. The second you get to college, start seeking out mentors in your department that can help you find internships. Get good grades in your classes and make yourself known at office hours to build relationships that might turn into references later. Join clubs and groups on campus that bolster your specific interests in EE. Everything you do, as much as possible, should be geared toward getting a great EE position when you graduate.

When you do graduate and move into a great EE position, live really really lean. Live in a small apartment, ideally a shared one, or even consider living in your vehicle (for real – high income people do this when they have their own goals). Keep all of your expenses as low as you can and bank everything else.

Over time, you’ll start developing a clear picture of what you need to live the life you want as you figure out what that life specifically is. Keep living super lean and you’ll get there.

Q5: Helping sick friend

A close friend of mine has/had diverticulitis. He went into the hospital two weeks ago and had emergency surgery on part of his intestine that was gangrenous and since then has been in the hospital with several complications. I have visited him several times but I don’t know how else to help. He’s facing some intense medical bills but hasn’t lost his job. I am not in a position to help him pay his medical bills either but I want to help and I feel bad that I can’t help him recover financially. What can I do?
– Kevin

Don’t give money. Give time.

While your friend is in the hospital, ask and figure out what tasks he needs done outside of the hospital that he can’t take care of. If he gives you something you can do, go take care of it.

When he comes home, he’s not going to be real mobile for a while (trust me when I say that diverticulitis like this isn’t fun). Stop by daily and take care of chores for him. Offer to run errands like getting groceries.

You have no idea how valuable this will be to your friend as he recovers from this. It will mean more than just throwing money at his bills. Yeah, he might be cranky sometimes, but he’s going to hurt and he’s going to not get around well for a long while and that can be really frustrating.

Q6: Dealing with a “funk”

I have been in a serious funk lately. All I can muster the energy to do is go to work and come home and nap on the couch and go to bed and then repeat it. On the weekends I catch up on a few of the undone things but that’s about it. I have fallen into a cycle of just ordering a lot of delivery or making microwave foods which is expensive. Friends say I should go to a therapist but I can’t afford it. Ideas?
– Jason

My first thought is that you should go to your doctor for a wellness checkup. Most medical insurance will pay for this kind of a visit because it’s far less expensive to catch minor things in the bud before they explode into major things.

Just go to that visit, explain to your doctor that you have no energy and motivation, and get some general bloodwork done to make sure that you’re not lacking in a certain vitamin or something simple like that. If your issues can be fixed with an iron supplement or a B12 supplement, then that’s great.

Your doctor may also have some other suggestions for you along those lines – low cost things you can do in your specific situation.

Since I don’t have a full picture of your health or lifestyle, I can’t really give you specific ideas that will work. Your doctor will be much better for that. However, I can say that things that work really well for me include making myself get some degree of daily exercise and spending some time outside every day. This is my normal routine and I’ve learned that when I slip away from that routine I usually slip into a blue mood.

Q7: Prime Day strategies?

Is Prime Day worthwhile? What strategies do you use?
– Tammy

For Prime Day, my strategy is to make a list of items that I’m intending to buy in the next several months. Holiday gifts for some people are on that list, as well as a couple of planned hobby items.

I then simply watch for those items and nothing else. It doesn’t matter how “cool” that item was – if it wasn’t something I had considered beforehand, I don’t buy it now just because it’s on sale.

So, my suggestion is simple: just make a list before you even look at the site. Consider things you might find useful and things you might want to give as a gift this holiday season and aim specifically for those items.

Q8: Expensive watch guilt

For the past several years, I have been saving up for a really nice watch like the one my grandfather wears and about a month ago I finally purchased a Longines Master Collection Chronograph. It is so beautiful and it is like a modern pairing to my grandfather’s watch. He was with me when I bought it and he is getting quite old so it might be one of the last things we get to do together because he lives 2,500 miles away.

The thing is beautiful to me and full of meaning but yet I can’t bring myself to wear it without feeling tremendously guilty about the $7000 I poured into it. I could have knocked off the rest of one of my student loans with that kind of money and instead I’m still making payments and paying interest. I should have been out of student loan debt at least before buying it and now when I look at it I think of my foolishness.

I can’t sell it and recoup the full value of what I paid for it but I can recoup most of it.
– Gerald

Gerald, don’t sell this watch. Just don’t.

You saved carefully for it for quite a while. You planned for this purchase. You bought it with your grandfather and it has that kind of shared meaning that is rarely found in life.

Don’t sell it.

Yes, it was expensive – probably unnecessarily so. However, this is truly a “buy it for life” watch. You are going to wear it for the rest of your life. Every time you look at it, not only will you appreciate the beauty of it, but you’ll be reminded of a man who obviously had a ton of impact on you to this point in your life. As you say, you may never get to share a moment like that again with him.

Wear it. Think of your grandfather. That’s the kind of meaning that you shouldn’t sell. I wish I had something like this to remind me of some of my relatives who have passed on.

To those of you thinking about spending your money on something like this: think about it extremely carefully. My gut instinct is to advise against it in most cases unless you saved for it carefully and it has additional meaning beyond the aesthetic appeal.

Q9: Minimize risk in Roth IRA

I opened a Roth IRA in 2017 and put all of my contributions in Target Retirement 2045. I am scared that I am going to lose my investment because I think the stock market is going to go down a ton in the next few years. What is a good investment with no risk?
– Drew

There is no good investment with no risk. As you reduce the risk of an investment, you almost directly reduce the return on that investment. A zero risk investment typically offers a return that’s a bit less than inflation, so somewhere around 2%. A good example of that is a savings account or a money market account.

As you add risk, your returns go up. Highly rated bonds, for example, usually beat inflation by a little but offer a little bit of risk. That risk level slowly inches up, as do the returns, when you move into other bonds, then into stocks and real estate, then into things like precious metals, or keep moving into things like cryptocurrency or collectibles, where the risk is incredibly high.

The question you really have to ask yourself is how much risk you can stomach. The thing worth noting is that many investments aren’t that risky over the long term, they’re just volatile in the short term. If you’re trying to invest for the long term (more than ten years), you should accept that some years you will lose money and take on a somewhat risky investment. I recommend a broad stock market index fund or the Target Retirement Fund you already have.

Q10: Getting started with Social Security

I am 61 and have been employed at Target for 33 years in a number of roles and have been store manager at three different stores for 16 years. I am getting ready to retire. I need to figure out my Social Security benefits but I do not know where to start. Can you help me?
– Dana

Your first step should be to head over to https://www.ssa.gov/myaccount/ and sign up for an online Social Security account so you can manage your benefits from anywhere. That’s the best place to start.

From there, you should be able to get a clear picture of what benefits you have coming and the options available to you. You likely have options that involve retiring at a later date and receiving more benefits per month or retiring earlier and receiving less benefits per month.

Take all options into consideration and see what works out the best for you. Also, consider what you will actually do with your time when retired.

Q11: Books on mindfulness and meditation

You have written many articles in which you’ve referred to how mindfulness meditation has really helped you stay focused on the moment. Do you have any book recommendations on mindfulness and meditation practices and how they benefit?
– Claire

The book I almost always recommend to people is 10% Happier by Dan Harris. It’s a very well written introduction to the personal benefits of mindful meditation, backed up by both research and an intensely personal story. The book offers a lot of straightforward beginner practices as well.

Another very solid introductory book, one more focused on benefits and techniques and with less of a personal story behind it, is The Headspace Guide to Meditation and Mindfulness by Andy Puddicombe. This was my default recommendation before I read the above book by Harris and is probably the best option if you’re not engaged by a strong overall personal story.

Beyond those two, the rabbit hole goes very deep. I enjoy the books by Thich Nhat Hanh quite a lot – he has written a number of books over the years and all of the ones I’ve read have been very thoughtful and powerful, though not all are really “introductory.” A good place to start with his books is probably Peace Is Every Step.

Q12: The Simple Dollar and dating

Given that finances are such a large part of relationships and marriage, how about starting a Simple Dollar dating group?
– Maggie

While I find the idea of a Simple Dollar dating group rather funny, I do think that it can be difficult for frugal and financially stable people to find each other for potential dating.

My advice is simple: look for dating opportunities where frugal people go. If you’re religious, start with your local house of worship. Check out civic groups. Check out community festivals and free concerts. Check out state and national parks. Check out what’s going on on Meetup. Go to these places and do things. Talk to people and see what clicks.

At the same time, avoid places where people spend money recklessly. A place where people are paying a cover fee just to dance to loud music and pay for overpriced drinks is probably not a place where you’re going to meet people who are careful with their money.

Got any questions? The best way to ask is to follow me on Facebook and ask questions directly there. I’ll attempt to answer them in a future mailbag (which, by way of full disclosure, may also get re-posted on other websites that pick up my blog). However, I do receive many, many questions per week, so I may not necessarily be able to answer yours.

The post Questions About Auto Insurance, Prime Day, Social Security, Watches, and More! appeared first on The Simple Dollar.

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Auto Bits: This automotive technology could save the life of a family member from a fatal fall

Tip of the WeekA study of hip fractures among those 65 or older in the The Journal of the American Medical Association determined that of the 300,000 Americans in this age group who fracture a hip each year, as many as three out of ten will die within a year. The study also found that many more of these victims will experience “significant functional loss.” Just how bad is the disability for survivors? Two thirds won’t be able to use the toilet unassisted. Half [...]

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How to Turn a Failed Startup Launch into a Success Story

We all make mistakes.

Sometimes these errors are minor, but other times they are grave. You need to learn how to avoid these mistakes.

Launching your own business is no easy task. As someone who has helped multiple startups to get off the ground, I know this process firsthand.

Things don’t always go as planned. Research shows that 90% of startup companies fail.

Sure, everything looked good on paper. You found the perfect name for your startup, but you hit some speed bumps along the way that you may not have been prepared for.

If your most recent business venture didn’t work out, it’s nothing to be ashamed of.

I get it. You poured your heart and soul into this project. The failure seems tough to overcome, especially if it cost you some money.

But your story doesn’t need to end here. You want to be an entrepreneur. That’s why you attempted to launch a business in the first place.

Don’t just accept defeat and try to get a standard nine-to-five job like everyone else out there. I know plenty of people who couldn’t get their startup off the ground.

You have two paths from here. You can either quit or move forward. Don’t fall into the group of entrepreneurs who quit.

I’ll show you how you can take that failed launch and turn it into an advantage that will move you forward. Here’s what you need to do.

Take a break

Launching a startup doesn’t happen in a week.

It starts with careful planning and research and then implementation of your ideas. You went through all the legal requirements of incorporating your business.

You spent time and money to develop products or software. Maybe you even built a mobile app.

Being an entrepreneur isn’t for everyone. That’s why they make up the smallest population of the workforce across the globe.

Everyone’s situation is different. Your startup could have failed after a couple of months or even a couple of years.

But regardless of when you failed, I’m sure you put in tons of hard work. You had some long hours and sleepless nights.

Working this hard over an extended period of time can burn you out.

It’s possible the effect of this failed launch even impacted your personal life.

You don’t want to let this event negatively affect the relationships with your family and friends. These relationships are much more important than your business.

Use this time as an opportunity to correct any wrongdoings that may have occurred while you were working on the startup.

Step away and just relax.

I realize this can be tough, especially if you don’t have a steady source of income at this moment. But you need to find a way to recharge your batteries.

As crazy as it sounds, taking a vacation might be just what you need. Put your startup out of your mind. Focus on your physical and mental health before you do anything else.

Once you have a chance to clear your mind, it will be much easier for you to jump back on the horse for a fresh start.

Figure out what went wrong

Now that you’ve had a chance to take your mind off things for awhile, it will be easier for you to assess the situation—you’ll have a more objective perspective.

You need to be able to look at yourself honestly in the mirror. It’s time to determine why your startup failed.

While it may be easy or convenient to blame someone else, you need to take responsibility for your actions. Here are the top reasons why startups fail:

If you look through this list, you’ll see many of these scenarios could have been avoided.

As the founder of your startup, you are responsible for making sure everything goes according to plan.

Let’s review the top three reasons for startup failure.

1. No market need

The number one reason why startups fail is because there wasn’t a market need. This should have been discovered during the early stages of the business. It’s your responsibility to conduct the proper market research. One of the first steps of launching a new business is to identify the target market of your startup.

If you skipped this step or took some shortcuts through the process, it could be the reason why you failed. Learning there was no market need for your startup could have saved you a ton of time, money, and effort if you figured this out in the early weeks or months.

2. Running out of cash

Running out of money could happen for a few reasons. Perhaps you either didn’t raise enough money or didn’t budget accordingly.

Again, both of those scenarios would fall on your shoulders.

Don’t get me wrong here, I’m not saying this so you can beat yourself up about it.

I just want you to figure out exactly what the problem was. Being in denial won’t help you move forward and turn your failure into a success story.

3. Not the right team

Surround yourself with people who can help you succeed. As you can see from the graph above, 23% of startups failed because the team wasn’t right.

Rather than blaming your team members for the demise of the company, make sure you find the proper people moving forward.

After all, who hired those team members? Don’t bring someone on board if they don’t bring anything to the table.

Research shows that founders with larger teams are able to pay themselves higher salaries.

But doesn’t mean you should be hiring a ton of people right away.

Make sure you work with people who are compatible with your management style, hard working, and skilled in areas where you are weak.

For example, let’s say you are an excellent marketer. Working with a partner who is also a great marketer may not be what you need if neither of you knows how to develop products or handle finances.

Don’t lose confidence

Failure can be an extremely humbling experience.

But you need to be able to find the balance between being humble and remaining confident.

Entrepreneurs typically have that “eye of the tiger” character trait that gives them an edge in life. Don’t lose that feeling and mentality just because of a mishap.

Sure, you may not approach your next venture with that feeling of invincibility you had when you started your last one, but you should always remain confident in yourself.

Your failed startup is just one minor event on the long timeline of your life. Don’t let it define you.

Instead, use it as motivation to bounce back and be better than ever.

Trust me, you weren’t the first person, and you certainly won’t be the last, who failed at something. People have been in situations far worse than yours.

Look at the positives in your life. You’ve got family, friends, and your health. Be thankful for what you have.

I have some encouraging news. The next time you launch a startup, you’ll have a greater chance of succeeding:

This makes sense.

That’s because you’ve been through this process before. It won’t be as overwhelming the next time because you’ll know what to expect.

Learn from your mistakes

Now that you’ve taken the time to recognize what went wrong, learn from those mistakes.

During what stage did your startup fail? Was it before or after the launch?

Did you have problems with production? Was there an issue with your product?

The key is to make sure you don’t make the same mistakes twice. You can’t just blindly approach your next startup without keeping your previous mistakes in the back of your mind.

Don’t take any shortcuts. Make sure there is a market for your brand. Secure the proper funding to reduce the chances of running out of money.

Bring in a partner or two if you need help. But it’s important to make sure everyone involved has a clearly defined role.

Here’s a look at the typical organizational structure of a business:

Obviously, these titles will vary based on your type of business. But you can still use this as a reference so everyone clearly understands the management hierarchy.

Don’t be so hesitant to raise money from outside investors.

You’ll have less equity in the company, but you won’t be crippled financially if things end up going wrong again.

Plus, the fact that others will have a stake in the business will make them care more too. They will also put in the effort to make sure the company is successful because they have money on the line as well.

Focus on your concept

Take the time to put some effort into your concept whether it’s:

• a product
• a service or
• software

I’m assuming your idea falls into one of these three categories or potentially a combination of them.

Ask yourself these questions: Do I need to start from scratch? Or can I make a variation of my failed attempt?

Sometimes, you may not need a completely new idea for a business. On the other hand, it may be in your best interest to start over with a new concept.

Everyone’s situation is unique.

It’s possible your product or concept wasn’t the issue that led to the failed launch. There may have been problems with budgeting, marketing, or some other factor that hindered your success.

If that’s the case, you could just launch another startup with the same concept under a different name.

Develop a detailed business plan

After you’ve taken the time to analyze your failure, it’s time to get back on the horse.

Whether you’re going to launch with the same concept or a new one, you have to start with a business plan.

Learn how to write a business plan for your startup. Business plans will keep you accountable for your actions. If you put something on paper, you’ll make the effort to follow through with it.

Plus, writing a business plan increases your chances of securing funds and growing your business.

As a result, your chances of success will be much higher.

The first step of writing a business plan is clearly defining your target market. This will tell you exactly whom your brand is for.

Research your competitors. Is your product already available on the market? With whom are you competing?

This will help you come up with a strategy separating you from the crowd.

Set a realistic budget. Recall our discussion about investors. Make sure you raise enough money so that you don’t have to worry about running out of cash.

Include a financial section of your business plan. When will you break even? Display your cash flow projections and expenses.

Account for everything to make sure you can survive until you have a steady income.

Your business plan should include a plan to market your startup company.

Conclusion

If your new idea for your business feels like it has legs, go for it.

Be confident in yourself and this new idea. Go through the steps carefully without taking any shortcuts.

Just don’t rush into things. It’s important for you to take a break in between these launch attempts. Take the time to analyze what went wrong so you can learn from your mistakes and avoid repeating them.

Entrepreneurship isn’t for everyone.

Don’t feel obligated to start a new business right away if you’re not ready. You may decide to try something else in the meantime.

But as we discussed earlier, you’ll have a greater chance of succeeding the next time around, so don’t be discouraged by what happened in the past.

Turn your idea into a reality.

How were you able to identify what went wrong with your first startup launch?

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Are You Ready to Make the Entrepreneurial Leap?

Unfortunately, starting a business can be seen as a leap of faith. It isn’t a given that you’ll be successful. It isn’t always a given that you will be producing a product or service that people are willing to purchase. However, it can be much less of an unknown if you conduct your research and […]

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How to Manage Your Money Like a Millionaire — When You Definitely Aren’t One

Get More Work Done: Eight Ways to Avoid the ‘Halfway Zone’

More often than I’d like to admit, I find myself working on a task, but not really working on the task. For instance, I’ll start a writing project on my computer, but I’ll have my Twitter feed open in a separate tab. I’ll write a bit, check Twitter, write a bit, read another tweet, write, then see an update that I absolutely have to read, and jump back to my feed.

It’s not that either activity I’m engaging in is bad — it’s just that they’re bad when mixed. I’m not being very productive with my work, and I’m not getting maximum enjoyment out of casually reading through Twitter (which is possibly my favorite leisure activity).

I call this getting stuck in the halfway zone. It’s like trying to think through a complex math problem while doing a challenging yoga pose. Both activities have benefits, but if you try to do them at the same time your performance and enjoyment will suffer across both activities.

Like most people, I find I’m at my most productive when I’m “all in,” meaning laser-focused on the task at hand. Similarly, I enjoy my leisure time more when I’m “all out,” and have nothing weighing on my mind. I’m at my most angsty when I’m in the halfway zone.

I’ve come up with eight different tactics you can implement to avoid being in that state of limbo between work and relaxation. Hopefully these can help you to get better work done and to truly enjoy your leisure time while you are off.

Use the Pomodoro Technique

The Pomodoro Technique was popularized back in the late 1980s as a way to do focused work, and it has fervent adherents to this day. The basic premise is that you use a timer to block out 20- to 30-minute chunks of time, during which you work on a task. Once the timer goes off, you take a five-minute break. Then you reset the timer and dive back in, repeating as necessary.

I like the regimented nature of this technique, which makes the boundary between work and rest very clear. You might be surprised at just how much you can get done in 30 minutes of effort that is 100% distraction free.

• Related: Productivity Apps Are No Match for a Simple Timer

Use Distraction Blocking Apps and Extensions

Thankfully, in this world of addicting games and apps, there are also programs you can download that make it harder to procrastinate. For instance, if you tend to spend a lot of time on social media, you can get something that blocks your access to Facebook, Instagram, or Twitter at certain times of the day. Similarly, you can restrict your access to games you can’t stop playing. If you want to really commit to getting work done the old fashioned way, you can even get programs that will restrict or block off your access to the internet altogether.

A web search for “distraction blockers” will yield a number of interesting options that can be tailored to your individual needs. It also might make you feel better about your procrastination problem to see that there are over 200,000 Google search results for the phrase “distraction blockers,” meaning you’re far from alone in seeking some help.

Practice Deep Work

“Deep Work,” as popularized by the book of the same name, is kind of like the Pomodoro Technique on steroids. You choose a chunk of time every day for working, usually between two and four hours, and then you sequester yourself in quiet room without distractions. For that chunk of time, you focus as hard as you can on making progress on a task.

The downside to this strategy is that it’s not very compatible with a typical 9-5 job. As much as I’d like to tell my boss, “I’ll be offline for the next three hours working on complex problems with only a pen and paper, tough luck if you want to get a hold of me,” it just wouldn’t fly. But, for an off-site freelancer or someone tackling a side project on an off day, it can be a very useful strategy for getting into a flow state.

Do a Cheat Day

Cheat days are usually associated with diets. The premise is that you follow a strict eating protocol from Monday through Saturday, and then on Sunday you get to eat whatever you want.

You could easily institute a similar protocol with your work habits. You work as much as you want, whenever you want, but once Sunday rolls around, you stop. Sundays could be for relaxation and restoration only. You can watch Netflix all day, guilt-free, if that’s what you choose.

It’s worth noting that many religions build in periods of rest on a weekly and yearly basis. There could be a deep wisdom associated with this approach, which recognizes that we’ll burn out unless we schedule in some down time.

Do a ‘No-Work Nighttime’

The most recent data on American working habits shows that one-third of Americans do some work on nights and weekends. This includes office workers who purportedly work 9-5, not just service industry employees who would be expected to work on weekends. This data shows that for many of us, work has a way of bleeding into what should be our free time.

One way to combat this is to is to block off periods of each day where you don’t use technology. This is like a mini-version of the cheat day. You could say that once 8 p.m. hits, work is done for the day. This strategy helps me to be refreshed and ready to do good work the next day.

Sometimes, on top of no work, I like to do “no-tech.” I turn my phone on airplane mode and grab a book. When my phone is on, I’m often tempted to “Google something really quick,” which can turn into checking my email, which can turn into ruminating about a message a co-worker sent. It’s just easier if to take that option off the table completely. If you want to jumpstart this process, you could try a digital detox.

Limit Yourself to Three Browser Tabs at Once

When I’m in the halfway zone, I can literally have 20 tabs open in one browser window. The news seems so compelling. I want to read all the things!

I’m ashamed to admit that as I started this paragraph, I realized I was breaking my own three tab rule. I had nine tabs open, two of which were half-finished think pieces I started reading over a week ago. Not good. I mean, if I didn’t finish them in a week, how badly do I really want to read them?

When I really want to get something done, I find it’s a lot easier if I open a new window in my computer and then open no more than three tabs. It’s all about reducing distractions.

For creative work, I also like to use full screen mode. All browsers have this option. In Google Chrome it’s under the “view” tab at the top of the screen. Going full screen helps me to eliminate temptation because all my bookmarks, which are full of fun and interesting links to distractions, disappear from view.

Try Not to Work While You’re Tired and Hungry

There are days where I skip breakfast and then end up completely unproductive in the hour before my lunch break. Every minute feels like an hour. I watch the clock and get lost in daydreams about my tasty lunch.

The problems compound when I’m tired as well as hungry. That’s when I make silly errors that I would otherwise catch. Also, being in this state makes me exponentially more likely to procrastinate.

If you’re trying to get focused work done, make sure you fuel your body properly. Have a snack before starting a big project, if you know the work will eat into your meal time. If you’re sleepy, take a cat nap if possible. Or, if you’re at the office, at least take a few moments to look away from the screen. A few deep breaths and some light stretching can do wonders for your ability to focus.

This one is tough because life happens. No one is impervious to the demands of kids, spouses, and erratic bosses. But if you can make nutrition and rest at least somewhat of a priority amidst the storm, you’ll see some good returns.

Be Realistic

Like many people, I get into trouble when I bite off more than I can chew. For example, If I’m feeling energized in the morning, I’ll convince myself that I can complete five tough tasks in a single day. “It’s important to set lofty goals!” I’ll tell myself, while flying high on a caffeine rush.

Then, a few hours later, I’ll find myself flip-flopping between mindlessly browsing Reddit and hacking away at task three of five, already feeling mentally exhausted. If I do complete that third task, it will be in a way that is not up to my usual standards.

It would be much more efficient, and healthy, to set realistic goals. Then, I can complete my tasks and just relax.

Summing Up

As much as we wish it was otherwise, our brains weren’t meant to multitask. That being the case, time management is critical. Unless we find ways to separate work and leisure, they will bleed into one another. I hope the above tips can help you both get more things done and truly enjoy your time off while you are in relaxation mode.

Related Articles:

• Five Time-Saving Productivity Hacks, Reviewed
• How Block Scheduling Has Solved Some of My Greatest Career and Life Challenges to Date
• Frugality, Productivity, and the Local Maximum

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Is It Better to Be a Homeowner or a Renter? This Guide Will Help You Decide