In his book, “The E-Myth,” Michael Gerber tells the story of a woman who bakes wonderful pies. As she prospers, she starts a company and takes on the accounting and selling functions to grow her customer base. Eventually, she becomes a manager and hires other people to bake the pies.
This month, with the end of the Mayan calendar, humanity will experience a “shift” and the rise in our vibrational energy will allow us to realize untapped abilities. However you interpret this idea, you already know that you have to change your way of doing business.
By the time you read this, the 2012 elections will be over, and you will either be optimistic about the future or wary of planning for 2013. Too often, business owners allow external factors to influence their strategic decisions; they lack confidence in their ability to create their own destiny.
Profiling the personality of the criminal element allows law enforcement personnel to effectively target and apprehend evildoers. In the current political environment, the millionaire capitalist has often been profiled as a borderline criminal stealing resources more properly allocated to others.
Financial decisions are based on facts and formulas, so it is common to think of them as rational and logical. The reality is that decisions, even financial ones, are based on emotions. Attitudes and beliefs developed throughout your life affect your financial decisions.
The protracted climb out of the recession continues with modest, incremental improvement. Residential construction remains the main drag on overall construction, but improvement appears to be on the horizon. However, growth will not come quickly nor with great fanfare.
In the first two parts of this series, I reviewed mutual funds, stocks and arbitrage. This month, I conclude with an overview of hedge funds, diversification and portfolio balancing. Hedge funds Benjamin Graham, the godfather of value investing, started the first hedge fund in 1923.
In part 1 of this series, I showed you one method of selecting mutual funds and reviewed some basic factors to consider in choosing investments. This month, we look at a simple way to choose individual stocks and review some other investment options.
When the recession deepened, many contracting businesses depleted liquidity. As markets recover, now is an appropriate time to review investment strategies for rebuilding lost wealth. This month, we take a look at a common investment vehicle and one system for selecting products.
Leading construction experts and economists are certain about one thing in construction right now: The future is mostly uncertain because consumers are scared, and too many Americans are unemployed. Economists see 2012 as a big question mark because of the risk of a double-dip recession.
Recent economic forecasts offer some hope for electrical contractors in 2012. As market conditions improve, it is more important than ever to avoid common contractor mistakes. Ensure you are alert to these business killers, and you will focus on ways to guarantee your success in the coming year.
A century before electrical contracting existed, Victor Hugo wrote, “There is nothing more powerful than an idea whose time has come.” Rapidly changing technology requires more progressive thinking today, but the powerful idea that appears as an outlier often goes unrecognized.
Financial planning and strategizing during chaotic economic times is like white-water rafting without a paddle. As you bounce between rocks, holding tight and hoping your craft doesn’t spring a leak, you analyze your situation.
Electrical contractors are realists. While you may long for a Utopian world in which your employees whistle happily as they create perfect work for delighted customers who pay you on time, earning you a healthy profit, you don’t expect this outcome.