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
Monday, January 26, 2009
Saturday, January 24, 2009
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:
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:
Friday, January 23, 2009
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
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
Tuesday, January 20, 2009
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
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
Friday, January 16, 2009
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
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
Thursday, January 15, 2009
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
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
Tuesday, January 13, 2009
"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
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
Saturday, January 10, 2009
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
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
Friday, January 9, 2009
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
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
Thursday, January 8, 2009
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
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
Monday, January 5, 2009
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
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
Sunday, January 4, 2009
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
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
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