Mid Year Review 2009

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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

Passive Interest or Aggressive R.O.I.?

So the other day I get an email from E*Trade bank announcing the reduced rate of interest my money (and yours, if you have an account with them) will be earning if I continue to let it sit in their coffers.

According to the email, my money will now earn .95%APY. When I first joined E*Trade the rate was about 4.5%. Well before this recession and prior to the collapse of the housing market E*Trade offered as much as 5.05%APY.


Now mind you, any money that is earned for doing zero work is good money, so I'm not complaining. However as a business owner, I make much with the return on investing in my company than putting it in the hands of others. Problem is, I have to do all the work.

The question is whether to continue getting a sucker rate with E*Trade and earn the passive interest or to go hard with my business to make the aggressive R.O.I.?

On the one hand, E*Trade says their rate is 5 times (5x) the national average, but there's a big difference between .95%APY and 5.05%APY. My account with ING Direct, still earns 1.5%APY, but that too is down from the original 3.5%APY I started with. To make things worst, my credit union only offers .25%APY on savings accounts and 1%APY on money market accounts. On the other hand, my business has a quarterly return of roughly 30%. But, I gotta constantly reinvest and do the work.

Never mind the fact that I'm not working with a lot of money, it's the principal of the matter. Should I just be content to earn a little while they use my money to make a lot or should I use my money to invest in me with the potential to earn more? How are you investing, passively or aggressively?

Is it better to earn passive interest or seek aggressive returns on investments? How does one differentiate earnings on saving from interest earned from investing? Could someone please help me figure this out?

In the meantime, I'm gonna continue to do both. I'm gonna put aside some in the "max-rate" (HA) savings accounts at E&Trade and ING, but invest more time and money in my ventures to truly maximize my returns.

I would suggest you do the same.

Here's a video that helps put this into perspective.

-whatdabusinessis.com

Self Made.....The Most Rewarding Success

When 2Pac rapped, "I'm a self-made millionaire" on 1996's Hit'em Up, he said it with a certain conviction, so it is no surprise that all of the African American's on Forbes' inaugural list of "The Wealthiest Black Americans" are self made millionaires, except for one, Oprah Winfrey, a self made billionaire.

Never mind the controversy surrounding 2Pac's lyrics, the fact is that his story and many of those on this list is that of African Americans who took their God-given talents and parlayed them into stratospheric success. So pardon him and them, for speaking with certainty.

The list, compiled by the people over at Forbes, highlights the names of the normal crop of African Americans that come to mind when we speak of wealth, Oprah, Tiger, Cosby, Magic, Jordan, Bob Johnson, and Jay-Z but also includes a number of lesser known names, including Don Peebles, Ulysses Bridgeman, Jr., and Quintin Primo III.

However, what they all have in common is that entrepreneurial spirit and internal drive that allowed them to be self-made.

It's is one thing to be a Hilton, a Morgan, a Carnegie, a Walton, an Astor, or a Ford, where you are essentially born into wealth, but it is a completely different ballgame when you come from the bottom, like Madam C.J. Walker, A.G. Gaston, or John H. Johnson. Your only armament is that of skill and persistence.

Almost every culture and rung of the socioeconomic scale respects the hustler. We are drawn to those who chart their own course, make their own rules, and attain success, within and outside the boundaries of the law. Be them the mobsters who built Las Vegas or the hustlers who lit up Harlem.

Aside from paying homage to those that came before you and those that helped open doors for you, being self made is what the American dream is all about. It is the redefinition of rugged individualism. That belief not only in self, but in the ability of the self to achieve on behalf of a group. What many people fail to remember is that as one person becomes a millionaire, he/she enables many others to earn alongside them.

Wealth is not created in a vacuum! It creates wealth and encourages success around it.

Just think of all the people they employ directly or indirectly through their companies. Warren Buffet has been minting millionaires since before many of us were born, like wise for Bill Gates, and many others. In theory, it is: I succeed, so we succeed.

So as you go about your daily grind, trying to figure out how to create your own
stratospheric wealth, strive to be self made. Strive to stand on your own two. Strive to make those around you wealthy in the process. Strive to create generational wealth, so that your children's children will come out the gate ahead of the pack.

You too could have "money like Cosby," if you strive to be self made.

-whatdabusinessis.com

Smoke and Mirrors

"It was all good just a week ago." - Jay-Z

Seven days ago, I woke up in Las Vegas.
Yesterday the Federal Reserve reported that the economy is still contracting, but at a slower pace.

Nine days ago, the wait for a taxi at McCarran International Airport was 20 minutes long on Monday morning.
According to our driver, cabbies used to make upto $400/day driving in Vegas, today it's is half that.

Eight days ago, I fell asleep in a suite at the MGM Grand.
Today, MGM Mirage's stock closed at $6.18. Within the past year it's been as high as $53.67.

A week ago, I had an in-room breakfast at The Four Seasons hotel Las Vegas. Those were some very expensive eggs.
Before it was taken private, by none other than Bill Gates and a Saudi Price, shares in the Four Seasons traded at $60.66.

A week ago, the strip was packed with visitors trying to see the water show in front on the Belagio.
Never mind that Las Vegas is in the middle of the desert.

This past weekend I had dinner at Maggiano's in Hackensack, N.J. with a dozen friends to celebrate a birthday. The bill came to $750. Finding a place to park took 4 loops around the lot.
One friend at dinner has been unemployed for over a year.

This morning, I saw the sweetest Maserati Quatroporte on the Long Island Expressway.
Yesterday, GM announced another round of layoffs.



It is no secret that we are in the middle of a recession, but like Vegas, the world in which we live is full of smoke and mirrors.

Regardless of what's going on, the number one objective is to not lose all your chips.

-whatdabusinessis.com

The Right Business Model

Is there such a thing as the right business model? Or, the perfect business model, or the best business model?

I posed this question to a friend of mine last night, but I can't honestly say we figured anything out.

The conclusion that we came to is that there are many different business models, each with its own pros and cons.

Without getting too theoretical this is what we came up with.

1) There is the retail business model, where you buy a product, and sell it either directly or through a distribution channel. This is probably the most common.

2) There is the subscription business model, where an individual or group pays a flat fee with minor fluctuations in costs for a service or product for a fixed amount of time. Your utility, phone, or cable company fits into this group.

3) There is the insurance business model, where again, an individual or group pays a premium for access to service or product for a longer amount of time, but doesn't always use or need the product. Medical, auto, and homeowners insurance are the usual suspects in this group.

4) There is the Multi-Level marketing business model, where a product or service is sold through a defined network of distributors who benefit from the sale of a product across various levels of involvement in that sale. Franchising is similar to a MLM, but is generally more rigid and capital intensive to get involved with.

5) There is the consultation business model, where services are rendered on a per-diem or set term basis for a fixed fee. However, consultants have to continually seek out new clients to maintain a steady stream of income.

6) Lastly, we have the contractual business model, where a basic service is provided at a set price for a set time-frame and is expected regardless of outside market forces. This arrangement can be found in just about any field, but is prevalent when dealing with services to large organizations or the government. This model is great if your budgeting an management skills are excellent.

We figured that for any business, there might more than one business model that might apply. However, as it relates to your business, you have to define what kind of structure you are most comfortable working within. It should also be noted that even though a business might have one business model, it is possible to have more than one revenue stream.

For example a publisher might make a little money from selling subscriptions, but makes substantially more from selling advertising. In addition they might take in revenue from the sale of branded products, or from consulting for other publications.

Your job as a business owner, entrepreneur, or investor is to seek out business models that feel right to you.

It's only right if it works for you.

-whatdabusinessis.com

Continue To Deliver

Dear Readers,

A couple of months ago I posted a piece about "Executing the Basics, Flawlessly" and I must say that at no other point in time is this truer than today.

Regardless of your occupation or business, project or venture, there remains a constant need to perform as though today was your last.

In business, as in life, you never know what is going to happen. Today customers could be lining up at your door, tomorrow they can be down the block. Today you gain a new client, tomorrow a client could tell you they no longer need your services. Today you could bring new investors on board, tomorrow they can cancel the check. There are no guarantees.

However, in business as in life, you must continue to deliver.

By deliver, I simply mean that you must constantly exceed expectations. I've spoken before about going that extra step, making that extra call, and doing the necessary follow-up. Those are all givens.

It is imperative to continue to deliver. There is nothing more impressive than when a customer or client walks away 110% satisfied.

It doesn't matter if you are in school, working a 9-5, or launching a start-up, you must continue to deliver. Whether you have 1 or 1000 employees, you and them must continue to deliver, day in, day out, and on the weekends.

Yesterday I picked up my niece from school and she was soooo eager to show me her report card. Public school's in the Bronx use a number grading system; she got all 4s, the highest you can get. After much praise, I made sure she got started on her homework. And, as I told her, "They're going to have to add 5s next marking period."

Whatever space life might find you, there is always room for improvement.

Each day, God willing, is another opportunity for you to deliver.

Best,

-whatdabusinessis.com

My Stimulus Check Just Arrived.........Kinda

WOO HOOO!!!!!

Despite the dismal unemployment figures that were released two weeks ago, some of us
are very happy to be receiving a paycheck.

For me, this happens every Thursday, like clock work.

A minute ago, I looked at my pay-stub and noticed that there was a little something extra courtesy of President Obama.

$10.25, One Jackson and One Washington (coin).

Thank you Mr. President, and Mr. Geithner, and Mr. Bernanke. Regardless of those who criticize your efforts, I applaud you all for my $10.25.

In two weeks, I can take the wife to a movie; in three she could have popcorn and a soda.......if I save up. Better yet, I can buy a couple gallons of gas, or a cd (preferably that Dream Love vs Money which is fire), or get that needed car wash.

Honestly, I haven't done the math to see what the effective Federal tax rate is now, but I do know that for the foreseeable future I will see an extra $10.25 every week. Now if we can only get that FICA character and Mr. Patterson and Mr. Bloomberg to follow suit, we can really get this stimulation under way.

Just think, if I/you had the discipline, in a year you could have $533, all thanks to the federal government. I gladly took that $600 from Mr. Bush, but I think I'm going to enjoy this $10.25 a little more. Had Bush done this during at the start of his eight years in office, I'd definitely be ballin' by now - instead of sitting at work blogging.

Never mind all that, thank you Mr. President, job well done.

Creating Deals in Difficult Times

So I'm riding the train home yesterday with a very beautiful young lady, but this post isn't about her.

While reading The New York Times, I came across an article by R. Perez-Pena which reported how the Times raised $225 million, to pad it's bank account, by selling part of its state-of-the-art headquarters building in New York City. At the same time the Times will lease (pay rent) back the property for a period of ten years then have the option to repurchase it at a set price of $250M.

The deal itself isn't uncommon in the world of real estate investment trusts, however it was artfully executed and should benefit both parties over the long term, but more importantly is what this means to your business as we ride out this recession.

As a business owner, be it a full fledge enterprise with employees, W-2s, benefits, and sick days, or a one-person conglomerate, in these times you might want to consider alternative deals to keep your operation going. If you are just thinking about starting your business, also consider how you are going to fund it over the long term.

The Times is not much different from your local bodega or your own company. They provide a product and services which people pay for. However, the time that lapses between receipt of payment and the actual providing of goods varies greatly, so in order to keep the lights on, businesses often borrow from banks, shareholders, or against their assets in the hopes of having a windfall that will allow them to catch up and possible get ahead.

It's like making the minimum payment on credit card bills then using your tax return to pay them off.

Back to your business. As you go about trying to figure out how to grow your business, gain new customers, or sell more product, keep in mind that you might have to do some creative dealing to get ahead.

As a friend of mine mention recently, you might have to consider bartering your services or goods, in exchange for what you need to move your business forward and generate income.

Outside of visiting a loan shark or theft, one of your ongoing goals as a business owner is to raise capital and stay stocked. Doing so is easier when you have a tangible product, but even if you're a creator of content (blogger), your main job is building your brand and having people fund your ambitions.

So go out there in these difficult times and create deals today that will allow you and your believers to proper tomorrow.

-whatdabusinessis.com

Freeze Layoffs, Save Jobs?

A friend of mine calls me up yesterday with and interesting proposal.

We often go back and forth with business ideas, our observations on the economy, and just the overall state of our financial well-being. We've done this since we were in high school and over the years we've come up with some good ideas, but haven't always
been able to capitalize on them.

In a nutshell, he said that the government should put a 3 month freeze on layoffs nation wide. The goal would be to keep people working, so that they can keep spending and paying their bills. If you have a job, you are likely to spend some portion of your income and contribute to the circulation of currency.

On the surface this seems like a noble idea, but after some thought, it would only drive private enterprises into the ground and delay the inevitable.

In theory, placing a freeze on layoffs would curtail the number of people receiving unemployment benefits from the government and ease the pressure on the federal budget. It would also enable employees to prove their worth to their managers and possibly increase productivity in the process.

However, keeping people on the payroll is generally not in the best interest of a company that is trying to save money. Additionally, we would have to factor in the size and employee requirements for such a plan.

Unlike freezing interest rates or converting adjustable rate mortgages into affordable fixed rate mortgages, placing a national freezing layoffs falls out of the scope of government. Of course extraordinary times call for extraordinary actions, but private companies should be regulated by the government, not tied to it. The government can set a minimum wage, set safety guidelines, impose taxes, and foster better working environments, but telling an employer that they can not scale down when there aren't enough customers for growing inventories is not their job.

It's like telling the Gap, they have to keep seasonal employees on until March, even though the holiday season is three months behind them. It's like going into a dealership and having 10 sales associates tending to 2 customers, it just doesn't make sense.

We know that all industries are not the same, so applying a moratorium on layoffs in the auto industry is very different from doing so in retail or health care. A band-aid will not help someone who needs stitches, the gesture is nice, but practically flawed.

As I've said many times before, I am not a financial expert or an economist, but as a small business owner there are many proposals, theories, and ideas on the table about how to keep the financial system from deteriorating further, but freezing layoffs, to save jobs is really not one of them.

-whatdabusinessis.com

If You Don't Have A Team, Then Recruit

So I watched that piece on NEWBOs last night on CNBC and I have to say, I was thoroughly impressed by the way it was put together.

Not to be confused with the organization, New England Women Business Owners, NEWBO's as coined by Lee Hawkins of the Wall Street Journal, refers to the New Black Overclass. It might take some getting used to, but I'm sure this term will make it into the national vernacular in no time. We are no longer relegated to just lower, middle, and upper-class.

This new Black Overclass, refers to a generation of self-made African Americans who have achieved a level of success that dwarfs that of most others in their respective industries.

Last night's show profiled Lebron James and his 3 three partners in LRMR Innovative Marketing & Branding, Kirk Franklin (gospel music), Terrell Owens (football), Torii Hunter (baseball), Robert Johnson (RLJ) and the Williams Brothers of Cash Money Records. There were a host of others who had cameos including, Russell Simmons, Sean Combs, Lil Wayne, and Melody Hobson.


Above and beyond each of their stories and how they came to reach the level of success they obtained, what sticks with me is the team of people they each must have around them to achieve their goals and maintain their wealth.

If one seeks to be a NEWBO, your team must also be in the same mental plane. Vision by itself is copper. Vision coupled with talent is silver. However talent, teamed with vision and management is gold. But if you want to go where others have only dreamed of, it takes an exceptional team of people to mine acres of platinum and diamonds.

The objective here is not to count millions or diamond rings, but to highlight the achievement of these individuals and show the possibilities of what creating generational wealth can do. The great grandchildren of Sam Walton (of Walmart) will never have to worry about funding their education, that worry has been eliminated from their consciousness. Although most of the wealth that is being created in Black America, is concentrated in the sports and entertainment world, it doesn't mean that there are not Blacks in medicine, publishing, law, journalism, real estate, hospitality, and every other field. If managed and organized properly, the combined wealth of today's NEWBOs - when combined with political access - could open plenty of doors for generations to come.

Jay-Z once said that: "All us blacks got is sports and entertainment, until we even Thievin, as long as I'm breathin / Can't knock the way a nigga eatin - fuck you even!"

However, that was in 1995. Jay-Z himself has attained certain levels of wealth that most Americans will never see, but despite is musical talent, his business acumen has been honed by choosing the right team members and partnerships. Roc-a-fella was/is not a one-man show.

So as you ponder your route to success, start putting your team together. You might not be able to approach it as the Steinbrenner's do the Yankees (by throwing money at the best), but you can still seek out those with talent that share your vision.

If you don't have a team, it's time to start recruiting.

-whatdabusinessis.com

Focus on the Finish Line, Not the Hurdles

So I'm getting on train this morning and as I'm about to sit down I feel someone breathing on my neck. Well.......she wasn't really breathing on my neck, but she was very close.

Any way, after the awkward moment, I realized that it was a girl I worked with back in 1992. Both of our parents worked for a nursing home and were in the 1199 Union, so we got summer jobs at the same nursing home.

Oddly enough, she and I share the same birthday, but she is nothing like all of the other Aries I know.

Within our 30 minute train ride, she mentioned the word depressed 4 times, the word stressed 3 times, and was just overly miserable.

Her main issue was that she wanted to have children (3 to be exact), but came out of long relationship over a year ago. The second issue is that she is working, but hates her job. The third issue relates to the first. A few years back she had an offer to take a job out of state, but opted to stay for the sake of her relationship. Right now she wants to go back to school for medicine, but can't decide whether to go or not. Basically she feels that being 30 is the end of life as she knows it.

I beg to differ.

Like I told another friend of mine later in the day, some times you gotta focus on the finish line, not the hurdles in front of you.

In all the books I've read and all the stories of people overcoming difficult odds, none of them mention life being easy or stress-free.

In life you are going to face a lot of obstacles. Some of them will be easy to get over, others you might have to go around, but there will always be hurdles.

There will be hurdles at work, hurdles at home, financial hurdles, hurdles dealing with your health, hurdles concerning friends, family hurdles, social hurdles, political hurdles, and a lot more, but most of them can be scaled.

They will come at you fast, so you have to be on your A game in all situations. The only way to stop the hurdles is to drop out of the race and if you do that then all the hurdles you managed to get over were in vain. You have to focus on the finish.

That's where the pot of gold is. No one enters a race in the hopes of losing. Likewise one should not approach life expecting defeat.

The young lady on the train sounded like she was ready to throw in the towel. The honestly of it is that no matter what I said to her, her rebuttals were focused on all the mistakes she had made in the past.

Who doesn't have regrets? There are a quite a few things I wish I could change or have done better, but those hurdles are all in the past.

So as you go about your day, life, relationships, and business, remember to focus on the finish line, not the hurdles.

Financial Recap #1

Every so often we like to put things in to perspective, just so you have a true picture of what's going on in the financial world.


As of 5:20 on Thursday evening (2/19), Robert Allen Stanford - the Texan billionaire whose firm has been accused of milking nearly $8 Billion from clients - has been located in Virginia. Just in case you haven't heard of him, this guy basically sold junk cd (certificates of deposit) to unknowing investors, from his base in Antigua. However, he was not arrested, just served with civil papers according to CBS news.

The Dow Jones industrial average is now at a 6 year low after closing at 7,465.95.

President Obama has signed the monumental $787 Billion economic stimulus plan, but unlike last year's $600 stimulus check, it is going to take months and years to feel the effects of this plan.

Bernard Madoff's wife apparently withdrew more than $15 Million from two accounts just days before he was arrested for running a decades-long Ponzi scheme.

Donald Trump's casino group has filed for bankruptcy protection - for the 3RD time. Although Donald only holds 25% of this company and opposed the move, his name is there so even the wealthy are feeling the economic crunch.

Lastly, the first major wave of federal refund checks will be deposited into bank accounts tomorrow morning. So if you filed your taxes before 12pm on February 5th, you should be in the black in a couple of hours. How's that for a stimulus?


-whatdabusinessis.com

Is Your Business on Life Support?

A friend of mine called me up today trying to get me to tell him whether or not to pull the plug on a project he was working in.

The truth of the matter is that I really was not sure what to tell him in regards to this particular venture, but it got me to thinking about a book I once read - The Dip: A Little Book That Teaches You When to Quit (and When to Stick), by Seth Godin.

In the book, Mr. Godin discusses the peaks and many values associated with building a business.

You see every venture, project, or business will have periods of decline and uncertainty, but some of them will never breath again - no matter how much air you pump in. I don't know first hand, but I assume that it is very hard to take someone off of life support.

Likewise, if you are passionate about something, it is very difficult to pull the plug on it. The truth is there is no definitive point on where or when to let an idea go dark. As the owner of one business on life support, I too know what it is like to not let go.

In certain businesses, the window of capitalization, is only open for but so long. If that window shuts, it might be very difficult to let air in. Your options become fewer and fewer by the day. You can either leave the house quietly through the back door or throw everything at the window until it breaks. You can also punch at the window until it breaks or throw your entire self at it and hope for a soft landing on the other side.

In business, as in life, there are certain times when no amount of money, energy, or assistance can help you - it all comes down to your gut and instincts. However, depending on your resources - you can keep a business on life support for years, but some will eventually die without producing offspring.

The choice is not simple, but you will know at some point if your business is on life support. It is up to you to decide whether to pull the plug or buy a generator.

-whatdabusinessis.com

What's In It For Me?

$13 (Thirteen dollars)

Yeah, I know I'm selfish, but you're probably thinking the same thing.

What's in it for me?

I'm still wrestling with all this financial information, job-loss stats, market data and the ginormous stimulus figures that are being tossed around so nonchalantly.

It's almost in comprehensible. Everywhere I turn there is talk of the stimulus plan, Congressional in-fighting, President Obama, and "the worst financial crisis" since the Great Depression.

$789 Billion that should be able to solve a lot of problems, but what's in it for me?
One version of the plan called for up to $830 Billion. Where's the other $41 Billion? Does that mean that some problems will not have a resolution?

I mean really, a couple of months ago President Bush gave $350 Billion to U.S. banks to unfreeze the credit markets (T.A.R.P. money), but it hasn't trickled down to those that need it most - homeowners in jeopardy and those holding notes backed by their loans. I've looked at what the Wall Street Journal, the Washington Post, and the Financial Times have written over the past couple of days and it's still not clear. I honestly don't have time to read all 300+ pages of the bill, so I'll have to guess what will come out of it like everyone else.

What I gather is that lawmakers in Washington and bankers on Wallstreet are all playing guessing games. Lawmakers are guessing that if we print more money, offer minor tax breaks ($13 more dollars in your take home pay weekly), and confuse the public that this problem will resolve itself. Bankers are guessing that if they make some concessions (giving up the million dollar bonus) to Congress, that they'll get more money to line their pockets and not lend to the public.

Truth is, this financial crisis is not a simple problem, however, it can be solved over time if we attack its root. Outside of sheer corporate greed, the problem facing America originated in the housing market - which has essentially been left out of all discussions regarding this stimulus plan.

It's like getting your teeth whitened to cover up your cavities.

Perhaps I'm wrong, but the only things I see in this stimulus bill for troubled homeowners is a $7,500 credit for new buyers and the promise from the nations largest banks to hold-off on all new foreclosure proceedings for three weeks. That might help some, but not enough to lift the economy. What about those homeowners who are under water and looking to refinance?

Let me offer my two cents.

1) The average U.S. mortgage is $1,295. If you tripled that, you're looking at $3,900. There are currently 1 million homeowners in jeopardy of losing their homes.
Why not cut them each a check for $3,900 - which would cost only $3.9 Billion. Why not make this a loan payable over 10 years to the federal government equivalent to the current 10-year Treasury note? Couple this with a refinancing credit of $1,100 to the banks holding notes from these homeowners and a three month moratorium on foreclosures and this should solve the problem of 1 million households. At today's (2/12) 10-yr treasury note rate of 2.73, the governments outlay of $3.9 Billion would generate $37.17 x 1M monthly or nearly $4.5 billion over 10 years.

2) There needs to be some sort of reform on how house values are calculated during this economy. The current comparative-pricing concept used by appraisers does no service to the homeowner in need of refinancing in this market. Perhaps a replacement cost approach similar to those used by insurance companies might work better to stabilize pricing.

Of course this doesn't solve overlying economic issues, such as unemployment, social security, and market confidence, but in my defense, I'm not an economist.

Sorry to get so technical on this, but if those in Washington and on Wallstreet are guessing, I might as well do the same.

For now, I can't wait to spend that extra $13.

-whatdabusinessis.com

Where's My Refund?

If you have the problem of spending money before you get it like I do, this post is for you.

I know, I know, some W2s aren't even in the mail yet, but if you want to
know where your 2008 tax refund is, checkout: IRS or copy the following link: http://www.irs.gov/pub/irs-pdf/p2043.pdf

Whether you file at your local tax guy or online using any of the various e-filing sites, as long as you submit everything by the date on the left, direct deposits will be available by the date in the center and paper checks will be mailed by the date on the right.

How's that for a stimulus package?

-whatdabusinessis.com

Understanding the Economic Crisis #1

I still don't understand this economic crisis.

I don't know if it is a recession, depression, or combination of the two.

Being 30 affords me the luxury of not having lived through the Mideast Oil Embargo of the 70s, and I can just a barely remember Reaganomics. I remember the crack era though. I remember that some dudes was really gettin' it, while others - like my parents - held onto their jobs. I remember the tech bubble of the early 90s, but again it didn't really hit home; I was still in college and used to being relatively broke.

What I do know for a fact is that money is not flowing around me as smoothly as it once did. I know that many of the stores I used to see open have shuttered their doors. Quite a few people I know are out of work and my business is not generating the capital it used to, but I still don't understand the entire scope of this economic crisis.

Now that gas prices have gone down significantly, things don't seem that bad, but it's obvious that things are not right nationally. I hear about some artist facing foreclosure, but it's obvious that some artist are still caking. I know this Bernard Madoff dude stole like $50B, but I don't see people jumping out the window. It's clear that things are hemmed up, but there is still a disconnect. I see the rising jobless claim, but I still see tons of luxury cars on the streets. I don't see as much houses for sale as last year this time.

Part of the problem is that the scale of U.S. finance is a macroeconomic problem, while my struggles are microeconomic problems. Maybe I'm just naive. Maybe things are worst than we think. Maybe dudes aren't really poppin' that much champagne. Maybe there are so much things to keep us occupied, that we're losing focus. Maybe people are just frontin'. That must me it. Everybody is frontin'.

I just don't know.

With the situation showing no sign of easing up, I think we should all start paying a little more attention to this crisis on a personal and national level.

Here's a good place to start:

Touching Lives

This one is very simple.

Your life touches the lives of many others.

You might not always know it, but somehow your actions - big and small - has a profound effect on those you come in contact with. In some cases you'll know instantly, in others you'll find out long after, and yet in others you'll never know.

So as you go about touching lives, try to pass on more positive vibes than negative. Try to pass on more words of encouragement than dismissal. Try to be more of an asset rather than a liability to others.

A few minutes ago I came in contact with colleagues I haven't seen or worked with in years. One guy reminded me of a favor I had done for him last year. It wasn't anything much to me at the time, still isn't today, but it meant the world to him. He's forever grateful.

Wherever life might take you, be mindful of the lives you might touch along the way.

-whatdabusinessis.com

The Fierce Urgency Of Now

WOOO HOOO!!!!

On this 20th day of January in the year 2009, it must be noted that the collective efforts of generations of people have led to the inauguration of Barack Obama as President of the United States of America.

Let us be thankful and enjoy this moment. Let us reflect on those that have come before us. Let us pay homage to those who have fallen on this journey. Let us raise our hands and applaud President Barack Obama, for the flawless campaign he ran, for the tireless efforts over two years on the road, and for the personal and family sacrifices he has and will make in the coming years.

For once America has done the right thing. For a change we have chosen the most qualified person to represent and lead us forward.

On CNN yesterday they had Martin Luther King Jr.'s speech-writer, who penned his famous "I have a Dream" speech. In the interview, he pointed out that President Barack Obama's invocation of the need to act now, echoes King's word.

You see yesterday is gone and tomorrow is not guaranteed, all we have is the present.
All we have is now. Our actions today are what dictate our tomorrow. It is this
fierce urgency of now, that moves us forward.

So as we revel in this historic day, and while the financial markets continue to falter, and while unemployment continues to climb, and as more people lose their savings and home, let us act now to stem the loses.

Let us act now to achieve the change we want. Let us act now, to follow up these events. Let us act now to assist President Obama in realizing all that he has laid out.

As someone recently put it, "Change is not something you get, it's something you work towards."

Let us act now, to achieve the change we seek.

-whatdabusinessis.com

See Further, Go Harder

Even though we are more than two weeks into 2009, I can't seem to shake the euphoria of November 4, 2008.

In less than 4 days, President-Elect Barack Obama, will be sworn into office as the President of the United States of America. Unbelievable!!

I just finished reading the Publisher's Page of this month's (Jan. 2009) Black Enterprise magazine and its publisher Earl G. Graves, Sr. puts it perfectly into perspective.

Mr. Graves writes that:

"This election year has culminated in a triumph that belongs to every American. Nevertheless, few would deny that when Obama is inaugurated it will be an indelible moment made possible by every African American who ever refused to accept the diminished roles once ascribed to us. It belongs to every African American who put asunder the restrictive bonds of racism, injustice, and inequality to defy the odds and achieve something lasting and great. This historic moment belongs to every African American over the centuries who earned recognition and distinction in business and science, in athletics and public service, in law and medicine, in education and the arts, in every endeavor - who regarded the limitation established by others not as an impenetrable ceiling but as the next floor, yet another level of achievement upon which to build."

At 30, my eyes have only witnessed so much, but Mr. Graves - who has lived at least two of my lifetimes is from the generation that gave birth to this day. His perspective is one that speaks history and relevance to these events. He even mentions that many from his generation have only dreamed of these times, but their labor has allowed us all to see further.

We are standing on the shoulders of giants. We know the names, they go back over 400 years in this country and thousands of years before that. We are standing not only on their shoulders, but also on their sacrifices, their blood, their tears, their passion, and their vision. From Olaudah Equiano to Marcus Garvey, who themselves stood on the shoulders' of others, to Sasha and Malia who share their parent's vision, we have no choice but to see further and go harder, not only on Tuesday, but everyday.

When Senator Barack Obama announced his candidacy, he did not think of one day, he visualized hundreds of days. Hundreds of hard days. From the primaries to the general election, his eyes were not focused inward, but outward on a better America.

It was a Garnett Silk type-vision that he possessed. It was that vision and the willingness to continuously go hard and see further that allowed for his victory. It was the common sense idea of campaigning in every state and seeking out every donation and voter, that led to this victory. It was the work of us all. But, that is what great things take, the work of many.

So as we get ready to celebrate, let us not lose focus on the work ahead. There will be plenty of it. Never mind that we are in a recession and the many people are jobless. There is plenty of work to go around, you just have to see further, and go harder to get it.

Whatever you've dreamed about or envisioned is possible if you can articulate that vision. That ability is what allows giants to give voice to a movement. The people will move, but they will only follow the loudest voice, so let yours be heard.

It is 2009, GO HARD, SEE FURTHER, GO HARDER, you're standing on the shoulders of giants.

-whatdabusinessis.com

Make The Best Lemonade, Then Sell It

A couple of days ago I sent a friend of mine the link to my blog and asked for his feedback. I haven't really put it out there yet, so I wanted to get an honest opinion, before I really start sharing.

In a nutshell, he said that is wasn't personal enough. He said the voice was good, but that I need to include more details about my life, so that people could relate to it more.

Now would be a good time to revisit my previous post on opinions, "Everybody Has One", and other anatomical features.

I thought about what he said for awhile and like every other thing I read, see, or hear, I took it with a grain of salt.

You see, I already spoke about the fact that this format gives anyone the right to speak his mind. But, that doesn't necessarily mean that I have to share the gory details of my life. However, this is a finance related blog, so I guess it would probably benefit the reader to know a little more about my bankroll.

Let's see........I'm not rich.......yet. I'm not broke either. I have a job and in these times that alone is an accomplishment. But, I don't love it. Nor do I hate it. I don't even mind going to work everyday. Shit, I'm at work right now. Today was payday, plus I got an extra day's pay for some holiday....NICE. My credit is mediocre, I won't get tier 1 rates, but I won't get the shitty rate either. Right now I'm single, but my wife will tell you different. How's that for personal?

Or would you rather me tell you that I have bills piling up like everyone else, but I'm current on all of them. Does it matter that I have a shit load of credit card debt, but keep getting credit line increases? Would that make for a better blog? Does it matter that I'm super glad it's tax time? Aren't you? I already admitted that I'm not a finance guru, but I'm not hurting either, I'm still grinding.

In a previous blog, I mentioned that I've failed at many businesses, should I write more about them? Do you care that I've blown tons of cash trying to get richer? What makes for an interesting blog? I've tried, I've failed, and I trying right now, on many fronts. So would say, I'm spreading myself too thin, but how will you know your limits until you push the boundaries?

"More details," that's what he said.

My friend, the one whose opinion I so value, told me months ago that he was going to write a blog. The topic.......Escorts. He was going to blog about different Escort services in New York and how much bang you could get for your buck. This is his field of expertise. He was going to rate escorts and blog about it. This was around the time that Spitzer's client #9 status cost him his job. Sex sells, so he probably would have developed quite a following had he started blogging then. The timing would have definitely been right. This was pre-financial collapse, pre-recession, pre-Madoff, pre-9,000 Dow, and pre-everybody losing their jobs.

But, he never wrote one word.

Tons of advice and "you should do this" and "you should do that," but he never wrote one word. How's that for more details?

My friend could easily blog about being out of work, not necessarily unemployed, but out of work. He's a pro at that. He's damn near the authority on that. Better yet, he's a pro at finding jobs. Shit, since leaving high school, he's worked for over 110 different companies. Some for a day, some for years. He's even worked for me, but quit, he said I didn't pay enough and the work was too hard. Oh, and there was the time his girlfriend told him that working with me on the weekends was cutting into their quality time. He has a helluva resume, tons of experience, but no real job.

As for the topic........."Make The Best Lemonade, Then Sell It."

-whatdabusinessis.com

"Execute The Basics, Flawlessly"

Sometimes I think about all the businesses I've failed at and wonder where the hell I went wrong.

If I had to self diagnose my business personality, I would definitely say that I
am a serial entrepreneur. There is something intensely exciting about starting a new project and watching it come to fruition. However, sometime between the first buds and fully ripened fruit, I seem to lose interests. Not completely, but enough to want to move on to the next start-up.

Problem is, this always occurs right around the break even point and never before profitability.

I doubt that I'm the only one with this affliction, because all of us have been very close to true success and have fallen short.

This past Sunday I read an article about McDonald's and how they are thriving despite the faltering economy and deepening recession. A couple of years ago this was not the case, but McDonald's simply went back to their roots. The company revisited the way they operated and returned to "executing the basics, flawlessly," according to Bob Goldin, a food industry consultant.

Of course McDonald's pockets are way deeper than mine (and yours, and our momma's put together), but there plan makes all the sense in the world. They had the money and organization to carry out the execution of the plan, but so do you - if you tap all your resources.

Whether you sell chewing gum or chartered flights, music or machine guns, you still have to "execute the basics, flawlessly." Your product might be different, but the skill set remains the same. You have to know the people you are selling to or working with, the product you are selling, and the place where you are selling it. Your price has to be competitive, but profitable to you. And lastly, you gotta be able to promote your self and your company. McDonald's refers to it as the "five P's", I consider it the pentagon of profitability.

So what ever business you are in, have been in or have failed at (like me), are thinking about starting, or struggling with, take a step back and figure out if you are truly executing the basics flawlessly. My suggestion is that if you can see at least five ways to improve in each category: "people, products, place, price, and promotion," you should be able to increase your business by 25% this year.

In college, they tell you to keep it simple students, in business, it's more about executing the basics.......flawlessly of course.

-whatdabusinessis.com

And You Think You Had It Bad?

I don't particularly subscribe to that Kevin Bacon-type six degrees of separation theory, but I do think that we are all definitely connected.

That connection just never plays out the way you think it might.

For the past couple of weeks, I've been following the story of Bernard Madoff and how he got (read robbed) investors for something like $50 Billion dollars - yes Billion with a capital B.

So I'm at work yesterday and one of my coworkers starts telling my about
a waiter from one of his favorite restaurants.

To put things in perspective, my colleague is a self-proclaimed gourmand. Basically,
he eats at the finest restaurants and cooks only on the weekends. You see there is a difference between waiters at say Red Lobsters and waiters at the Four Seasons. Yeah, they both do the same job, but their environments are different and the information they might be privy to is certainly not the same.

Any way, my colleague tells me how he's trying to enjoy his meal the other night, but the waiter is in an obvious funk. After a little pushing, the waiter finally tells my colleague what's going on.

The short of the story is that, this waiter in this fancy upper east side restaurant, where tips are more like $25 than $5, took charge of his mother's finances after she retired. Turns out, he put his momma's life savings into the hands of Bernard Madoff, that's Bernard L. Madoff Investment Securities LLC.

I don't know how much money it was, but whatever the amount, it's all gone. I don't know how he ever heard of Madoff's magic returns, or how he even got in a position to give his momma's money over to Madoff, but it's gone.

Then I get home last night and Channel 9 News (in NYC) had a similar story about a retired bricklayer who had all of his life savings tied up in Bernard Madoff's company as well. Just last month, his statements said he had nearly $1M invested, today he has $4,000 (and none of that is with Madoff's companies).

That's some shit.

Imagine working 40 years on your hands and knees laying bricks, developing back injuries along the way, only to find out that you now have nothing. Damn, if I lose $20 today, it's like someone stepped on my corn, I'm screw-facing all day.

Funny thing is, this waiter, his momma, or this bricklayer could be anyone of us.

I must admit, when I first heard about this Madoff guy, I laughed my ass off. $50 Billion, over 30 years, that's a lot of paper. That's 10 Oprahs, 2 Tiger Woods, Magic, Jordan, Bob Johnson, Michael Lee Chin, Jay, 50, Diddy, the entire NBA, NFL, and Major League baseball. That's more (like 2x more) than Chrysler, GM, GMAC, and Ford had to beg the government for. Plus they gotta pay it back. This dude gets to sit in his penthouse while others are jumping out the window....or slitting their wrists. He was getting ready to send out nearly $180M in checks to friends and family, never mind those ungrateful sons. Imagine that, this dude could cut you a million dollar check and not even blink, much less loose sleep.

Most of the people that got caught up initially in this Ponzi scheme were rich Frenchmen, upper-westsiders, retirees, trust funds, endowments, and investors, so it didn't really matter to me. They don't normally show up on my radar anyway, zero connection. They've already lived their lives, just like Madoff.

But, this waiter and the bricklayer, that's you, that's me, and that could have easily been our mommas.

So while you think your life is hard and times are tough.......

-whatdabusinessis.com

Everybody Has One.......

You know the old adage, "Opinions are like @$$holes, ....."

At no time in the history of mankind is this more true than today. In this age of instant messaging, twitter, text messaging, the internet, podcasting (I remember when I first heard this term), and blogging, anybody - I mean everybody - can voice their opinion to the world. When you think about it, that's a scary thought.

Imagine your elementary school lunch lady putting up posts about the need for balanced nutrition. Or that guy at the gym, you know the one - he insists on greeting everyone and doleing out lifting tips - but rarely ever breaks a sweat. In this age, their opinions and mine can be put out there freely.

Let me be the first to say that, I am not an expert. I am not some great sage or guru who has studied extensively in any particular field. I am not an authority of any given subject, nor am I overly opinionated. I am not a great writer, nor am I an official on language. Yes, I went to college, but so what, over 80% of millionaires in the U.S. do not have college degrees.

This blogging thing is completely new to me. We're all just trying to fill that need to be heard. Hoping that we can generate some buzz for our particular interests.

All that to say, read these missives with a grain of salt. Double check my facts and let's do our part to prevent the lunch lady from posing as a nutritionist.

No disrespect intended to the thousands of lunch ladies who feed our children. Like her, I too have one, plus I can be an @$$hole sometimes.

-whatdabusinessis.com

When In Doubt, Keep Moving Forward

"Buy a Benz / I'll value your opinion then" - T.I. (I Can't Quit / Trap Muzik)

It's funny how sometimes you really don't hear what's said during a conversation until some time after it.

The other night (Sunday) I had a conversation with a friend of mine, real good dude. Being the new year and all, we decided to sit down and kick it about life and business. We must have spent about 3 hours just chopping it up. At about 2am, he bounced and I worked for another hour or so.

You see, I work for a good company, but I juggle like three separate businesses on the side. I use the term businesses loosely. According to Robert Kiyosaki, I have 4 jobs. I could live comfortably off of my paycheck, but like Kiyosaki, I don't particularly subscribe to the Suze Orman philosophy of "live with-in your means." Perhaps it would be better to say that I have 3 hustles. After all, they all bring in some sort of income routinely. Problem is, unlike my paycheck the consistency with the outside revenue streams in completely unpredictable.

But then again, LIFE is completely unpredictable. As I sit here, typing this missive, the power could go out, or I could lose my train of thought. I could leave here and get hit by a bus. We don't know what is going to happen, today, tomorrow or next week. However, we can always try to be prepared for whatever may come our way. Moving forward with your ideas, plans, and goals help to prepare you for opportunity.

You see, this big stable company that I work for, is hemorrhaging money. If the ax should fall on me tomorrow, what then?

Today however, was great. First off, it was payday, plus I made progress and money on two of the three hustles.

After the initial conversation with my friend, I had a singular moment of self doubt. It was that second where I was like damn, maybe I am doing too much. But, as I told him, when my phone rings, I never know what the call might be. It could be a call worth $1, $1 Million, or anything in between. So although I value his friendship and opinion, I have to keep moving forward.

Likewise, whatever you are working on, be it school, your job, or your business, just keep moving forward. People will never truly see the value or benefit in what you are doing until you pull up in something shiny. It's only natural to have occasional doubt, but don't let that deter you. Just keep moving forward. Sometimes you might have to adjust your pace, but keep moving forward. Take a rest when necessary, but keep moving forward.

All the forward steps, will eventually lead you somewhere, unlike standing still. Let, life pass others by, for you, let life move you forward.

-whatdabusinessis.com

How I Lost $7300 (Plus Interest)

So.....when I was about 10, I decided that I was gonna save $1 a day. It was a simple decision.

At that point in life, I didn't need or want much. All I really cared for was this G.I. Joe man ("action figure" came much later), I think it was Storm Shadow.....or Snake Eyes...., definitely Storm Shadow. He was on Cobra Commander's side, sometimes, but he only came out for special missions, like the time they had those 4 black boxes that Cobra, Destro, and 'em were trying to use to control the climate around the world, remember that?

Any way, back then, the only way I knew of to make money was by returning empty soda cans and beer bottles (no I didn't drink them). It was my Saturday morning ritual, wake up, grab the family shopping cart and start making the rounds. Every 20 cans brought me $1 closer to Storm Shadow. It took me about 2 weeks to reach my goal, but even after getting Storm Shadow, I kept on returning empty soda cans. I wasn't trying to make a career out of it, but hey, why give up the easy money. Couple of hours of work on a Saturday morning, put a couple of bucks in my pocket, so why quit?

Back to that $7300 I lost.

After getting Storm Shadow, I figured, I could save $1 a day if I could collect 20 cans every day.
Simple right? That project lasted about a long as Storm Shadow's plastic sword........all of a month.

Over the years, I revisited this concept in various forms. $7 every week when work at the tailor shop. $2 a day when working at the nursing home. And the ambitous $5 a day when I was juggling shifts in the college cafeteria and working campus security. With two checks and numerous hustles, I was set.

Funny thing is, at 30, I should have that extra $7,300 lying around someplace, but I just can't seem to put my hand on it. I was gung-ho every time I started my savings plan, but something always came up, Storm Shadow, the special edition Storm Shadow, Kangaroos (w/zipper), girls, Garbage Pail Kids, roller skates, The Adventure's of Slick Rick, girls, that Guess Jacket, tuition, student loans, Cancun, the 4.6, the wife, mortgage........you get the picture.

If only I was more disciplined.

You know what, this year, I'm gonna stick to it. I figure if I could save $1 a day until I reach50, I could get to that $7,300 by then.

-whatdabusinessis.com

No Resolutions, Just Plans of Action

Hello All,

Thank God, 2008 is behind us. It was definitely a rough year in all aspects, but we made it.
For those who did not, God be pleased with them. For those of us who are here, dwell not on the past, act in the present, and move towards a better future.

Make all the resolutions you want, but if you don't figure out a concrete plan of action to accomplish these resolutions, you're wasting time. If eating healthier and working out more does not include planned meals and scheduled workouts, what's the point? If making more money, does not include starting a part time hustle, plans to expand your business, or getting more overtime, why bother? If getting out of debt does not include automating your saving and bill payments, chances are you'll be in the same position at the top of 2010.

I was taught a long time ago that a plan is only as good as it's execution. Similarly, resolutions need to be acted upon.

Pardon the lewdness of the acronym, but sometimes you gotta be a T.W.A.T.
Think about what you want to accomplish.
Write out your plan of action.
Act in accordance to carry our you plan and vision.
Tally your results then think of ways to improve.

So as we return to work and school for 2009, remember that you really don't need to make more
resolutions, just create better plans of action.

Happy and prosperous new year.

- whatdabusinessis.com