Survival+
Structuring Prosperity for Yourself and the Nation
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By Kevin M
Right now a lot of people are either unemployed, underemployed or working in a career or job where promotion opportunities are close to non-existent. In such times, thoughts often turn to cutting a new path by starting a new business.
Many of today’s business models are based on the Wall Street principle of OPM—Other Peoples Money. Whether through the sale of stocks, bonds or by obtaining bank financing, large companies and well publicized start ups seek to open new ventures and expand through leverage.
But what works (sometimes at least) on Wall Street can often be business poison to the would-be small business owner.
Continue reading Should You Borrow Money to Start a Business? →
By Alban (Guest Post)
A standard credit card gives you the security and ease of use to access funds at anytime, anywhere, online, over the phone or in person, and while not all credit cards can be opened for business use, there is a wide range of business credit cards to choose from to keep your corporate spending documented, and give your business the same purchasing freedom you have come to rely on with your personal credit cards.
Benefits of Business Credit Cards
Don’t worry that your business is too small or doesn’t make enough purchases to warrant a business credit card, because there are so many different types of business credit cards available you are sure to find one to suit your business. So check out all the benefits your business can get from using a corporate credit card:
Continue reading Advantages of Business Credit Cards →
By Kevin M
“Everyone” is one of those absolute words we should generally stay clear of, but I’m violating conventional wisdom, sticking my neck out and saying everyone needs to have a blog!
You can beat me up for violating protocol, but before you do, consider the seven reasons why I’m making such a bold declaration…
1. To CONNECT with the rest of the world, 21st Century style
There are nearly seven billion people in the world and most of us connect with a handful who we’ll connect with in any meaningful way. With a blog we can add hundreds or thousands more—do you think there might be some value in that?
A blog is the cornerstone of finding like minded people in a world that seems to be pulling apart socially even as it gets more crowded. Though it often seems that people are the nexus of our troubles, we can’t overlook that they’re usually the source of our solutions as well. After all, who couldn’t use a few more friends, a few more intelligent opinions or a few more business contacts?
Most of the people we’ll meet through blogs will live in another part of the country, or another part of the world, but that’s pretty stinking exciting, wouldn’t you say?
Continue reading 7 Reasons Everyone Needs to Have a Blog →
The Economy is Choking on Cost Containment
By Kevin M
The other day, my wife called our prospective health insurance carrier, trying to get our plan initiated. She was greeted by voice mail and immediately placed on hold. Once she did get a live voice, she was placed on hold two more times, only to find that our paperwork was “still tied up” somewhere in oblivion. The first two representatives she spoke with were clueless about our case, the third promised to follow up and get back with us. We’re still waiting.
Here’s a curious point: until this paperwork issue is resolved not only do we have no coverage, but the insurance company has no revenue stream from us.
Stop and let that sink in. You’re a business owner or manager, and your company has problems. Costs are rising and need to be contained. Staffing, perhaps your biggest single expense, needs to be pared in order to improve the bottom line. Technology is brought in to eliminate payroll. Your customer is now “greeted” by voice mail instead of another human being, then routed through a telephone labyrinth of numeric multiple choices in the hope of finding the right person, the one who can help with their problem. Often, as in our situation above, that person is never found.
Question: what is that inconvenient arrangement doing to that other crucial component of your bottom line–your customers and the revenue they bring to your business?
Continue reading Is Voice Mail Killing the Economy? →
By Kevin M
Recently on OutOfYourRut I’ve been writing a series of posts centered on employment alternatives–self-employment, side businesses and soft employment (part-time, temporary or contract work). The purpose in discussing these alternatives is based on my belief that the weak employment environment we now find ourselves in may not be temporary, and longterm changes need to be implemented in order for us to survive in a job market that may look very different from what we’ve know for most of our lives.
( Photo by Phil Campbell )
Though connecting employment weakness to the recent recession is the standard line, doing so fails to give proper recognition to longer term trends which have had an even greater effect on the job market than we assume. Globalization, advances in technology and rising healthcare costs have marginalized much of the labor force in countries such as the United States. While technology has been eliminating jobs at home, wage arbitrage has been taking place globally, in a competition that high wage/high benefit labor bases, such as that of the U.S., are at a competative disadvantage versus low cost/unbenefited work forces in third world countries. We can protest that it’s unfair competition all we want, but it’s also the reality of our time.
Though the evidence is all around us, I stumbled upon a recent article that addresses the longer term job outlook more directly.
Continue reading Jobs and Careers That Aren’t Coming Back →
By Kevin M
Starting a new business is often a process of navigating a series of challenges. The greatest ideas can land in a ditch for unforeseen reasons. In fact it’s often not a bad concept that causes a new business to fail, but a lack of staying power. Starting a business should be thought of as a long term plan and not a get-rich-quick scheme.
Motivational author and speaker Robert Ringer provided a user-friendly re-definition of the concept of positive thinking as positive thinking through assumption of a negative result. You don’t assume failure, but you anticipate problems and prepare for them.
There is a constructive difference between true optimism and blind optimism. True optimism is based on solid planning—it springs from preparation and planning. The more common blind version rests on vague concepts like an idea that’s “too good to fail” or “I’ll succeed because I’m me, and I believe in me”. That kind of hype can quickly vaporize in the face of an empty bank account or a failed business deal.
So what kind of preparations will stack the deck in favor of your new business venture and generate a sense of true optimism?
Continue reading 7 Ways to Improve the Success of Your New Business →
By Kevin M
There probably isn’t a soul in the workforce who hasn’t dreamed of or at least contemplated the possibility of working from home. There are many benefits to this arrangement but it’s important to understand the limitations as well.
I’ve spent a good deal of my life working from home and I strongly recommend it as a preferred work style. But I’ve also become quite familiar with both the advantages and the downsides of home basing. For years I worked from home as a mortgage loan officer. It was a natural advantage because it provided the ability to concentrate all of my efforts on serving my customers. It also forced me to learn to work independently and to identify and utilize outside sources who could enable me to do that fully.
Over time I became comfortable with the proverbial “chief cook and bottle washer” aspect of self-employment, and was able to transfer those skills to subsequent businesses, including recruiting and this weblog.
One element of work-at-home that I know to be absolutely critical above all other concerns: your contribution must add tangible value to your employers business.
Work-at-home isn’t about us nearly as much as it’s about our employers and what we can do for them through the arrangement. Never forget this.
Continue reading Making Work-At-Home Work For You →
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General: Any information in regard to money, credit, personal finance, or in regard to any other monetary topic, provided or shared on OutOfYourRut.com is presented for information and entertainment purposes only and does not constitute financial advice. It is intended to provide general information only and does not constitute personal financial advice in regard to your specific circumstances...MORE-->
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