Change Course

A belated Happy New Year to all. May 2011 bring you one step closer to your dreams and two steps closer to your destiny.

After a painful 2010, we greet 2011 full of optimism. No need to make any far-fetched resolutions, just stand resolute in not repeating any mistakes of the past. It is easy to make mistakes in business and in life, however it is the lessons learned from those errors that determine your success. Once you fully evaluate the cost of your fumbles, it is clearly up to you and your team to decide how best to get to the goal.

Sometimes it is necessary to change course.

By changing course we simply mean that you may have to alter your approach or strategy in order to arrive at the desired destination.

Perhaps you've been active in the social networking arena and publicizing your business and services, but is it translating into sales? You might want to shift your focus to real world advertising to find new customers. Maybe you've been using the same business card for years, but you or your business has taken on a new role, you might want to refresh your image. Maybe your website needs to be revamped. Is it attracting enough customers? Have you visited a trade show recently? Have you looked at what your competition is doing? Business is not about being in a vacuum, but rather about staying ahead of the curve and knowing when to make worthwhile adjustments.

When you decide to change course, bear in mind that your goal or objective does not have to shift, just the means by which you arrive.

So go ahead, change course. Alter your approach. Nip and tuck your business strategy. You might even want to do a complete overhaul of your business model.

For example, my family and I recently had the opportunity to dine at Don Coqui in New Rochelle on New Years Day. To our surprise, the owner Jimmy Rodriguez was doing the hosting duties for the evening. We used to be avid fans of Jimmy's Bronx Cafe and have eaten at all of Jimmy's previous dining facilities including, Jimmy's Uptown, Jimmy's City Island, and the short-live Jimmy's Cafe Restaurant. Jimmy's story is one filled with climbs and descents, but his arrival at Don Coqui is simply a matter of changing course over the years and adapting to the obstacles that present themselves. From selling seafood on the street to overseeing the orchestration of more than a 100 plates, it is safe to say that Jimmy's goal has never really changed, just the route by which it was achieved.

So, as you plan out your year, be conscious of when and where you might need to change course, you will eventually get where you are going.

See you at the top.

-whatdabusinessis.com

Lift Your Anchor

"If you want to launch big ships, you have to go where the water is deep."

I don't know the origin of this phrase, but for some reason it has always stuck with me.

As you charter you course in life and business, there are certain checks and balances that you need to have in place to ensure that your vessel is sea worthy. So whether you have a single-seat rowboat, a two-person canoe, or an ocean liner, you still have to take some basic precautions before setting sail. Do you have enough fuel? Are there any tears in your sail? Is your deck clean? Have you checked the forecast?

Above them all, you must LIFT YOUR ANCHOR!!!

Chances are you will not get very far out to sea until you lift your anchor. Perhaps you are being held in port by fear. Or perhaps, you are having doubts on the course that you've plotted. Maybe your crew isn't as strong as you need them to be. It could be possible that you are in the wrong port of call. Whatever is holding you back needs to be left at the dock. Relieve yourself of any stress, anxiety, or dead weight that might be hindering your progress.

LIFT YOUR ANCHOR!!!

The law of inertia states that objects in motion, tend to stay in motion, so whether your venture is in its infant stages or fully grown, you still have to lift your anchor and move on to the next destination. The next goal. The next port of call. The next challenge.

There is a strong possibility that you have already made it through the perfect storm. Even if you've dropped anchor in open water to catch your breath, eventually you will have to lift it and continue the journey. Don't rest on your accolades, keep moving.

Please do not throw caution to the wind. In fact, I encourage that you thoroughly check all systems before venturing out. If you are in business, do the research. Know your customer. Know your competition. Know the business and your market. Who are you trying to reach and serve? Know it inside and out. Map you course. Plan an alternate route. Maybe you are starting small and might only need an extra oar. But if you dream of captaining the Black Star Liner, you better be prepared. You might need rescue boats in addition to life jackets. If you plan on really going to sea, you might need a tug boat to guide your path.

SIDE NOTE - With every big ship, there's a tug boat to guide its way. In life, your tug boat might be a good friend, a mentor, a coach, a spouse, or a partner. This person most often wishes you a safe journey and has your best interests at heart. A special thanks to all the tug boats that keep me afloat.

Once you have everything in place, say a prayer then LIFT YOUR ANCHOR.....

Go ahead, set sail on a new project. Set sail for a new accomplishment. Set sail on life. Set sail on your business.

LIFT YOUR ANCHOR, cast aside whatever is holding you back from taking that leap and know in your heart that the journey is just beginning.

-Whatdabi

SUCCESS

"People rarely succeed unless they have fun in what they are doing."
- Dale Carnegie

Mid Year Review 2009

http://twitter.com/WhatDaBizIs


Exactly one year ago today, we issued our first Mid-Year Review as we launched an early version of our website: www.whatdabusinessis.com.

Needless to say, it has been quite a year. Whether we look at what happened in the markets between September 2008 and February 2009, or if we examine the failure of half a dozen once-mighty financial institutions, or ponder the fate of millions of home-owners, they all reveal that it has been a very trying year. We could also consider the rising number of unemployed Americans or those caught up in Bernard Madoff's ponzi scheme, or the millions of college graduates under the yoke of student loans. Never mind the failing state governments or the impasse in Albany, N.Y. or the uncertainty of many banks. I honestly feel that the worst is behind us.

Last week's untimely death of entertainment icon, Michael Jackson, and yesterday's announcement by VIBE magazine that they were shutting down has once again proven that there is no certainty in life or in business.

However, despite all the gloom and despair that surrounds the financial landscape, we must remember that we have a new president in the white house who honestly gets it. And, while President Barack Obama addresses the macro-economic issues that are facing the country, we all need to address the micro-economic problems that are facing us. The president's power can only extend so far, we need to meet him halfway. That means solving your own problems and helping to solve those facing your community. Much love and respect go out to people like Lue Williams of Baychester CSA/Food Co-op (Community Supported Agriculture) who are in the trenches doing their part.

That said, as we cross into the second half of 2009, we must remember that life is full of pots of gold. But, in order to find them, you might have to weather some storms. It is part of the process. The ups and downs are what sharpen your skills and make you aware of the potholes and pitfalls you might encounter. Let the pressure create diamonds in your mind and hands.

So rather than leave you with a bunch of financial tidbits in this year's review, I'll leave you with three simple concepts.

1) Increase your earning potential.
and
2) Don't be afraid to get dirty.
and
3) Pay your bills.

-whatdabusinessis.com

Cash For Clunkers #1

For the past two years I've been driving a 1996 Ford E250 cargo van, so a couple of months ago when I heard about the possibility of the U.S. government authorizing a "Cash for Clunkers" program, I've been eager to learn more.

Cash for Clunkers is a controversial government program that would give new car buyers vouchers ranging from $3,500 to $4,500 towards the purchase of a new vehicle when they trade in their older, less fuel efficient automobile. Basically, if you are driving a gas-guzzling piece of crap, have had registered for the past year, and can afford a car note, the government will give the dealer - from which you are purchasing - a credit towards the new vehicle. No, they will not give you the money directly.

(1994 Ford E250 = 13 mpg)

To find out if your current car qualifies for the program, you can check its fuel efficiency by visiting: www.fueleconomy.gov

Although the European version of the program has been successful in increasing the number of new car purchases by about 450,000, the U.S. plan could increase car sales between 250,000 and one million units between July 1, 2009 (the scheduled start date) and the end of the year.

The program, which was a stand alone legislation, has been rolled into the $106 Billion emergency war funding bill that the senate passed last Thursday, and now awaits the President's signature. The original legislation called for $4B in funds which were to have come from the $787 billion economic stimulus package, but has been reduced to $1B as part of its inclusion in the war funding bill.

So if you are like me and have been contemplating how to replace and existing vehicle, this program might serve you some benefit. Of course you are going to have to be able to qualify for a loan, and have a car to trade in, but with the proposed voucher you might not have to come up with that much of a down payment.

Right now the bill remains unsigned, but chances are your local dealership is probably readying their ads for the upcoming July 4th weekend. It is still unclear how foreign car makers are going to take advantage of this offer, but Ford, GM, and Chrysler, are poised to lift themselves out of record sales declines if and when this goes into effect.

(2009 Ford E250 = 17 mpg)

Stay tuned for more info.

-whatdabusinessis.com

Death of Autotunes

"I WANT PEOPLE TO FEEL THREATENED"

"THIS IS FOR HOT 97"

"THIS IS THE DEATH OF AUTOTUNES.....MOMENT OF SILENCE"

-JAY-Z

It's 9:28pm Friday night in New York City and Hot 97.1's Funkmaster Flex and Mister Cee have been dropping bombs to Jay-Z's new record "Death of Autotunes," for the past half and hour.

ENORMOUS!!!!!

This is the funniest show I've heard in a minute. Flex and Cee are murdering everybody out there in radio-land, similar to how Jay bodied this track.

Never mind the fact that the record is nothing short of brilliant. There are enough one liners in here make it an instant classic.

Did I mention that the track pays homage to that song for loosers....."na na na na, hey hey hey, goodbye." Don't quote me on that.

Jay-Z did a superb job of summing up the ills of the music industry to.

Shout out to No I.D. for that monstrous track.

So after all of that, you still have to go find the track elsewhere. Don't worry Hot97 will put up the video in a couple of hours.

-whatdabusinessis.com

P.S. - I know this isn't our primary area of coverage, but I couldn't resist. Back to Businsess

Whose Ally Are You?

After spending the better part of the past three days trying to help a friend of mine decide whether to lease or purchase a new car, it was welcomed relief when another friend calls me up to suggest that I write a blog about the reemergence of boutique banks, notably Ally.

He mentioned seeing an ad for Ally Bank which is offering some very attractive cd and savings rates. It instantly dawned on me that I had seen the funniest commercial this morning of some guy in a suit taking away a toy truck from a kid, and replacing it with a cardboard cut-out of a truck after a few seconds of play.

LOOK AT THE KID'S FACE........

The tagline of the Ally bank revolves around 'nothing being buried in the fine print and honesty.' However, what both ads fail to indicate is that Ally Bank is nothing more than a renamed GMAC Bank. GMAC Bank was formally the financing unit of General Motors, which has received more than $12Billion from the U.S. government. From what I gather, Ally Bank is the rebranding attempt of General Motors, to distance itself from dismal auto sales and poor lending practices in its overall financial services unit. That seems like a pig in lipstick to me. Perhaps a pony might paint a better picture.

I am not a banking expert, but it is troubling to know that a failing bank, can rename itself, with the governments permission and our money, then advertise itself as a boutique bank, without mentioning their affiliations. Maybe we're using the boutique bank moniker too freely here, because boutique banks generally service a certain market, group, or industry. However the term boutique was mentioned by my friend, but built upon by myself to indicate how Ally Bank, was created for the distinct purpose of masking the failures of GMAC.

It is no different from when Valujet, remember them?, renamed themselves as AirTran Airways, not long after flight 592 crashed in the Florida everglades killing 105 passengers along with the crew. I fly AirTran regularly and airline accidents are far and in-between, but slapping a new face on someone who is ugly inside insults my intelligence and doesn't do anything to solve the underlying problems.

However, 2.25%APY on an online savings account is pretty attractive. That 2.80%APY on a 1-Year cd is not a bad looker either.

In all fairness, Ally mentions GMAC twice on it's website: www.ally.com, once under, "the ally story" and once under the FAQs.

So the question remains, whose ally are you Ally Bank?

For more information on GMAC's rebranding as Ally Bank, check out:

Thanks A.C.

-whatdabusinessis.com