As someone with a marketing and sales background, I appreciate what the Survey Resource Center does to ensure that sales people have good leads from which to sell their products or services. I was a tad bit sceptical when I read that their leads generate two to three times the national average, until I looked into how they do it, and their guarantee.
I have made lists myself for my own marketing efforts, so I know a bit about how difficult it is to ensure that every single one of your leads is a good one. That means valid phone numbers and addresses, and in some cases valid e-mail addresses. Survey Resource Center will replace any leads for which the address or phone number is no longer valid, and this it does at no cost to the client. Now, this seemed like a very generous offer, but Survey Resource Center includes two other guarantees with this. They guarantee the exclusivity of the list for six months, meaning that the sales team using it can be assured that no one else will be competing with them. And here's the real kicker that shows that this company is serious about its product: they will refund in full 100% of the customers purchase price if they do not make at least $1000 per hundred names off of their lists. Now that's a company that believes in its product!
Showing posts with label D. A. Rupprecht. Show all posts
Showing posts with label D. A. Rupprecht. Show all posts
Thursday, September 10, 2009
Tuesday, June 23, 2009
A New Source for Leads: The Survey Resource Center
I research all sorts of things on the net in a search to find ways to earn money. Today I came across the Survey Resource Center. The company originally began to generate leads for people in the insurance industry, but it looks like they have branched out to include other financial market offerings as well. I know a bit about generating leads, as last summer I made up lists to develop leads for a construction company in Minnesota.
From what I read about Survey Resource Center, they have developed a massive database and have further found a way to generate appointments from these lists to enable appointments rates two to three times the industry average. I know that the more appointments that are made, the more sales that result, and that translates into more money.
They seem to have caught on to this fact quickly, and have categorized each contact by geographic location and product need to enable sales people to use their time more efficiently, thus enabling them to make more sales. From what I have read, they certainly have their priorities in order and I would recommend any sales people in the insurance industry or other financial planning niches to check out the Survey Resource Center.
From what I read about Survey Resource Center, they have developed a massive database and have further found a way to generate appointments from these lists to enable appointments rates two to three times the industry average. I know that the more appointments that are made, the more sales that result, and that translates into more money.
They seem to have caught on to this fact quickly, and have categorized each contact by geographic location and product need to enable sales people to use their time more efficiently, thus enabling them to make more sales. From what I have read, they certainly have their priorities in order and I would recommend any sales people in the insurance industry or other financial planning niches to check out the Survey Resource Center.
Thursday, May 28, 2009
Death & Taxes
Well, if you're looking into taxes now for 2009, you better be contacting American Tax Relief... or someone else who deals in delinquent taxes. Hiring someone who knows how the IRS works is imperative if you've attracted their attention. Government tax offices of most countries tend to be the most efficient, and a company like American Tax Relief may be able to help. Not here in South Africa, of course, but a company like that sounds as if it would do well, as SARS, the South African Revenue Service, is very good at their job of separating taxpayers from their money.
The I.R.S. cautions that consumers can only be represented by an I.R.S. enrolled agent, CPA, or a tax attorney in tax matters. Because of this, consumers need to make sure that those who claim to be tax experts are what they say they are, so make sure you do your research and speak to a legitimate representative of American Tax Relief or other organization that can help you with your delinquent taxes.
The I.R.S. cautions that consumers can only be represented by an I.R.S. enrolled agent, CPA, or a tax attorney in tax matters. Because of this, consumers need to make sure that those who claim to be tax experts are what they say they are, so make sure you do your research and speak to a legitimate representative of American Tax Relief or other organization that can help you with your delinquent taxes.
Wednesday, April 22, 2009
Internet Reputations & Bass Fishing
Carl Sgro fixes reputations. Carl Sgro also likes to fish for bass. Both of these elements of who Carl Sgro is are congruent... and here's why...
(Find the rest of this article at The Creating Wealth Blog published on 4/22/09)
(Find the rest of this article at The Creating Wealth Blog published on 4/22/09)
Friday, April 3, 2009
Rising Unemployment Brings Rising Numbers of Students
Yes, things are bad all over, and unemployment in the United Kingdom is adding to the stress of consumers there. But there may be a silver lining to this cloud. Application for enrollment in universities in the UK have increased dramatically, as people of all ages become increasingly pessimistic about employment opportunities and instead turn towards furthering their educations. The Universities & Colleges Admissions Service (UCAS) has indicated that applications increased by over five percent from twelve months previous, and the University of Dundee in Scotland saw applications increase a whopping 16.5%.
(Find the rest of this article published at The Creating Wealth Blog on 3/31/09)
(Find the rest of this article published at The Creating Wealth Blog on 3/31/09)
Frank Hanna on the Love of Money
We have heard a lot about how people such as Warren Buffett and Bill Gates have given the majority of their fortunes away to charity. While many people with fortunes not so vast as theirs may see this philanthropy as a good thing, what has not really been explained are the reasons behind such philanthropy.
(Find the rest of this article published at The Creating Wealth Blog on 3/31/09)
(Find the rest of this article published at The Creating Wealth Blog on 3/31/09)
Selling Virtual Real Estate
While the housing market is down in the doldrums and the stock market is tanking, what else can someone invest in that will make money?
(Find the rest of this article published att The Creating Wealth Blog on 3/5/09)
(Find the rest of this article published att The Creating Wealth Blog on 3/5/09)
Individual Voluntary Arrangements (IVAs): A Tool for Consumers in Debt
As I have stated previously, in the current economic climate, businesses that help free people from debt are going to be doing well for years to come.
(Find the rest of this article published at The Creating Wealth Blog on 3/5/09)
(Find the rest of this article published at The Creating Wealth Blog on 3/5/09)
Socializing the "Free" Market?
I began thinking about socialism a few days ago when I read a blog entry that suggested the nationalization of banks. Now, socialism has more commonly been identified as an evil, especially by politicians in the United States, and perhaps they had a point. Nazism was essentially "national state socialism", a type of government that curtailed the freedoms, including economic freedoms, of all the citizens of Germany and the countries that were under its control The Union of Soviet Socialist Republics used the word "socialist" in its name, and it too restricted radically the freedoms of its citizenry. So too does China, which describes itself as a socialist state, and in which all of the major industries are controlled by the state.
(Find the rest of this article published at The Creating Wealth Blog on 2/28/09)
Is This the End of the Debt Culture?
Is it just the winter in the UK that's bringing out more grim news? Ever more people are becoming insolvent and declaring bankruptcy in the United Kingdom.
(Find the rest of this article published at The Creating Wealth Blog on 2/18/09)
(Find the rest of this article published at The Creating Wealth Blog on 2/18/09)
The Future of Online Advertising
Forget about Google AdWords and those annoying ads that pop up when you go to some commercial sites. I came across a site called "Hired to Blog" in my search for freelance opportunities online. It's about getting paid to blog, as per the name.
(Find the rest of this article published at The Creating Wealth Blog on 2/16/09)
(Find the rest of this article published at The Creating Wealth Blog on 2/16/09)
Do What You Love and the Money Will Follow
What, truly, is the point of doing something you despise in order to make yourself wealthier? Isn't part of the point to life, perhaps even the main point, to love what you do? That essentially is why I write.
(Find the rest of this article published at The Creating Wealth Blog on 2/13/09)
(Find the rest of this article published at The Creating Wealth Blog on 2/13/09)
Ready to Invest in Valentine's Day?
Want to order flowers for Valentine's day? Call 1-800-FLOWERS or visit their website.
No... this is not a commercial. While browsing around on the Internet, searching for something that will get me more than a kiss on the cheek from my wife on February 14th, I came across their 2008 Annual Report. It made for some interesting reading. Considering the free fall the American and world economy took last year, it is surprising that 1-800-FLOWERS actually showed some remarkable achievements for what should have been a down year in luxuries.
In a brief overview, here are some of their 2008 fiscal achievements:
• Grew EPS 23 percent to $0.32 per diluted share
• Grew EBITDA 9.3 percent to $61.6 million
• Reduced Operating Expense Ratio 70 basis points to 36.5%
• Grew Free Cash Flow 166 percent to $38 million
• Acquired DesignPac Gifts LLC for $38 million, increasing Company’s Gourmet Food and Gift Baskets total annual revenue run rate to more than $250 million
What this means in a nutshell is that the dividends 1-800-FLOWERS pay investors increased significantly, the company's earnings increased by nearly 10% (remember, the recession actually started in December 2007), the company became more productive, they have considerably more cash reserves, and they are expanding by buying up other companies. It's a good position for any company to be in, and reading their report I gathered that they are well prepared to weather the storm of this recession of recessions.
True, their financial year only ended in June 2008, before the worst of the credit crunch was realized. But it shows that even in tough times, things like flowers still sell. The company has positioned itself well, by cutting costs, in part by investing in online ordering platforms.
And while searching I found a 15% discount on flower designs by Martha Stewart. So if you're wanting to send flowers to a loved one, you can even get a discount.
Martha Stewart? I did a double take. I remembered she had gone to prison under a cloud of insider trading. It has been nearly five years ago since she surrendered to a prison camp in West Virginia. Still, she has served her time and paid her debt to society, and her improprieties were much less hurtful to others than say... Bernie Madoff's.
So... if you want to order flowers and other gifts by Martha Stewart through 1800FLOWERS.COM, visit their site, and perhaps even consider investing...
(Originally published at The Creating Wealth Blog on 2/11/09)
No... this is not a commercial. While browsing around on the Internet, searching for something that will get me more than a kiss on the cheek from my wife on February 14th, I came across their 2008 Annual Report. It made for some interesting reading. Considering the free fall the American and world economy took last year, it is surprising that 1-800-FLOWERS actually showed some remarkable achievements for what should have been a down year in luxuries.
In a brief overview, here are some of their 2008 fiscal achievements:
• Grew EPS 23 percent to $0.32 per diluted share
• Grew EBITDA 9.3 percent to $61.6 million
• Reduced Operating Expense Ratio 70 basis points to 36.5%
• Grew Free Cash Flow 166 percent to $38 million
• Acquired DesignPac Gifts LLC for $38 million, increasing Company’s Gourmet Food and Gift Baskets total annual revenue run rate to more than $250 million
What this means in a nutshell is that the dividends 1-800-FLOWERS pay investors increased significantly, the company's earnings increased by nearly 10% (remember, the recession actually started in December 2007), the company became more productive, they have considerably more cash reserves, and they are expanding by buying up other companies. It's a good position for any company to be in, and reading their report I gathered that they are well prepared to weather the storm of this recession of recessions.
True, their financial year only ended in June 2008, before the worst of the credit crunch was realized. But it shows that even in tough times, things like flowers still sell. The company has positioned itself well, by cutting costs, in part by investing in online ordering platforms.
And while searching I found a 15% discount on flower designs by Martha Stewart. So if you're wanting to send flowers to a loved one, you can even get a discount.
Martha Stewart? I did a double take. I remembered she had gone to prison under a cloud of insider trading. It has been nearly five years ago since she surrendered to a prison camp in West Virginia. Still, she has served her time and paid her debt to society, and her improprieties were much less hurtful to others than say... Bernie Madoff's.
So... if you want to order flowers and other gifts by Martha Stewart through 1800FLOWERS.COM, visit their site, and perhaps even consider investing...
(Originally published at The Creating Wealth Blog on 2/11/09)
Grim Real Estate News from the United Kingdom
Several of my fellow bloggers on The Creating Wealth Blog have gone on about debt. Having a great deal of debt inevitably makes it more difficult to create wealth, as payments and interest to creditors eat into money that could be better used for investments.
Yes, many people, including myself, have made money through borrowing for real estate investments. We did it back in 2005 with a 100% loan, something you can't even get here in South Africa anymore. When the housing market went up astronomically with no end in sight, aphenomenon experienced all over the world, there was nothing to worry about. If you could double your investment every two to three years, who cared about fine details of those loans. Everyone was making money.
Now, there's news from the United Kingdom, that repossessions have climbed yet again. The rate of repossession has almost doubled since the third quarter of 2007, compared to the same period in 2008. The UK is going through the same thing as the US, and there are a lot of people in need of assistance with their debts. My bet is that services that help people bring down their debts and negotiate with lenders will do well this next year and for several years to come.
People are going to have to tighten their belts to keep their homes; that is, those who have not yet been affected. Consumers' past overspending has caught up with them, and we're waking up with a collective financial hangover, wherever in the world you find yourself. UK Banks, like those in the US, are no longer lending as they did before the credit crunch, and the number of real estate deals in the UK is down by nearly 90%.
All of this affects my wife's sister and her family, who live in southeastern England. They are in a good position, in a way, as her husband still has decentemployment that may enable them to weather the storm. They have two properties, one the house they live in Kent and the other an investment property nearBasingstoke . They don't want to know how much either of them is worth, as both have plummeted in value, though at least the investment property has a decent renter and is finally paying for itself.
That said, perhaps the UK is through the worst of it. 2008 was a grim year, but that year's over. Maybe 2009 will be better...
(Originally published at The Creating Wealth Blog on 2/10/09)
Yes, many people, including myself, have made money through borrowing for real estate investments. We did it back in 2005 with a 100% loan, something you can't even get here in South Africa anymore. When the housing market went up astronomically with no end in sight, aphenomenon experienced all over the world, there was nothing to worry about. If you could double your investment every two to three years, who cared about fine details of those loans. Everyone was making money.
Now, there's news from the United Kingdom, that repossessions have climbed yet again. The rate of repossession has almost doubled since the third quarter of 2007, compared to the same period in 2008. The UK is going through the same thing as the US, and there are a lot of people in need of assistance with their debts. My bet is that services that help people bring down their debts and negotiate with lenders will do well this next year and for several years to come.
People are going to have to tighten their belts to keep their homes; that is, those who have not yet been affected. Consumers' past overspending has caught up with them, and we're waking up with a collective financial hangover, wherever in the world you find yourself. UK Banks, like those in the US, are no longer lending as they did before the credit crunch, and the number of real estate deals in the UK is down by nearly 90%.
All of this affects my wife's sister and her family, who live in southeastern England. They are in a good position, in a way, as her husband still has decentemployment that may enable them to weather the storm. They have two properties, one the house they live in Kent and the other an investment property nearBasingstoke . They don't want to know how much either of them is worth, as both have plummeted in value, though at least the investment property has a decent renter and is finally paying for itself.
That said, perhaps the UK is through the worst of it. 2008 was a grim year, but that year's over. Maybe 2009 will be better...
(Originally published at The Creating Wealth Blog on 2/10/09)
Working For Free
When you go to the doctor, do you expect to be treated for free? Do you expect a farmer to plant his crops, fertilize and otherwise nurture them, and then send the food to market without getting paid for the time and money it took? Or how about when you visit a financial advisor?
I'll get back to this one later...
What I am really wondering is why do so many people think writers will be happy to work for free? I write because I love words and have always had a way of putting them together. I'm good at what I do, but so too are many people who take up professions for which they get paid. Yet, when I research my next writing gig, there are numerous advertisements from people who offer no pay or very little pay
Most of these ads are upfront and honest, informing applicants if they pay based on royalties, or don't pay at all for that matter. Some free jobs may even lead to other work. In fact, the manager of this blog was very upfront when I first approached him, saying that payment would be on a revenue sharing basis, but he also added something that I liked. He said that by blogging on the site, I could increase my exposure online and further my freelance writing career.
By writing for "free" I was really creating a space where I could showcase my work. I was, in essence, advertising. And it's paid off for me to a certain extent, even in the short time I have been writing for this blog.
So... if you're a professional of any sort, providing advice without asking for payment can be a way of attracting new customers and thus increasing income. In this day and age, for example, starting a blog on financial matters would be a great way to bring in potential clientele for a financial advisor, just as blogging about health would be for a doctor, or blogging on writing would be for a writer.
(Originally published at The Creating Wealth Blog on 2/6/09)
I'll get back to this one later...
What I am really wondering is why do so many people think writers will be happy to work for free? I write because I love words and have always had a way of putting them together. I'm good at what I do, but so too are many people who take up professions for which they get paid. Yet, when I research my next writing gig, there are numerous advertisements from people who offer no pay or very little pay
Most of these ads are upfront and honest, informing applicants if they pay based on royalties, or don't pay at all for that matter. Some free jobs may even lead to other work. In fact, the manager of this blog was very upfront when I first approached him, saying that payment would be on a revenue sharing basis, but he also added something that I liked. He said that by blogging on the site, I could increase my exposure online and further my freelance writing career.
By writing for "free" I was really creating a space where I could showcase my work. I was, in essence, advertising. And it's paid off for me to a certain extent, even in the short time I have been writing for this blog.
So... if you're a professional of any sort, providing advice without asking for payment can be a way of attracting new customers and thus increasing income. In this day and age, for example, starting a blog on financial matters would be a great way to bring in potential clientele for a financial advisor, just as blogging about health would be for a doctor, or blogging on writing would be for a writer.
(Originally published at The Creating Wealth Blog on 2/6/09)
I Want to Live in a Double Wide Trailer!!!
Well, I don't. Not really. Although owning a park filled with manufactured homes, the PC description of trailers, may not be a bad investment.
On the surface, this may seem like a bad idea. A really bad idea. Manufactured homes are seen as down-market, their value depreciates more quickly than regular houses, and most local governments will try to prevent a new trailer park from opening.
Lonnie Scruggs disagrees. He has made his living owning mobile home parks.
There will always be a market for affordable housing. In more rural areas, there are few apartment buildings and renting a regular house is inevitably more expensive than renting a manufactured one. Let's face it, some people just aren't interested in creating wealth, and are happy paying rent for the rest of their lives. So... that double wide sitting in your mobile home park can be seen as a ticket to grow your money, just like any other real estate investment.
The manufactured home business saw the credit crunch a lot sooner than the rest of the housing market, as banks refused to lend money for people to buy them. But then, banks had previously been lending nearly 100% of the purchase price for new mobile homes that depreciated to a point that buyers were paying much more for them than they were worth, just like in many real estate markets around the United States... and the world.
The secret is finding an already existing park, and then buying the land outright. Some parks rent out mobile homes. Many have owners living in them. Most are a combination of owners and renters. But even if someone owns their manufactured home, they don't own the land in the park, so have to pay rent on it.
So... what about financing? These days traditional loans are nearly impossible to get, even with good credit. There are ways around this, however, even in the current economy. The secret is owner financing. It's not much of a secret, really, but it does require additional negotiating, which you can do through a real estate agent if you feel your negotiating skills are not up to par. You would have to find someone who owns a trailer park, and who is tired of running it. Perhaps they are ready to retire, or perhaps there are changes to their financial position that mean they are eager to sell. Then, you negotiate terms with the owner, based on what price they want and their and your own unique positions.
Owner financing is not just something that can be used for manufactured homes, either. It is something that can be used for any real estate venture, and may become more common unless banks loosen their credit.
But back to reasons why owning a mobile home park is a good investment opportunity. Firstly, for the reasons I mentioned, you're not likely to get a whole lot of competition when looking around to buy a trailer park, as it is seen as inglorious. This is a good thing, though, as it lessens competition. Next, by owning a mobile home park, the government is likely to be on your side, making it difficult for others to start new, competing parks.
Just one thing to remember. Do not buy a manufactured home NEW! Mobile homes depreciate VERY quickly, and buying new ones are bad investments. But you can certainly make money by renting them out.
(Originally published at The Creating Wealth Blog on 2/4/09)
On the surface, this may seem like a bad idea. A really bad idea. Manufactured homes are seen as down-market, their value depreciates more quickly than regular houses, and most local governments will try to prevent a new trailer park from opening.
Lonnie Scruggs disagrees. He has made his living owning mobile home parks.
There will always be a market for affordable housing. In more rural areas, there are few apartment buildings and renting a regular house is inevitably more expensive than renting a manufactured one. Let's face it, some people just aren't interested in creating wealth, and are happy paying rent for the rest of their lives. So... that double wide sitting in your mobile home park can be seen as a ticket to grow your money, just like any other real estate investment.
The manufactured home business saw the credit crunch a lot sooner than the rest of the housing market, as banks refused to lend money for people to buy them. But then, banks had previously been lending nearly 100% of the purchase price for new mobile homes that depreciated to a point that buyers were paying much more for them than they were worth, just like in many real estate markets around the United States... and the world.
The secret is finding an already existing park, and then buying the land outright. Some parks rent out mobile homes. Many have owners living in them. Most are a combination of owners and renters. But even if someone owns their manufactured home, they don't own the land in the park, so have to pay rent on it.
So... what about financing? These days traditional loans are nearly impossible to get, even with good credit. There are ways around this, however, even in the current economy. The secret is owner financing. It's not much of a secret, really, but it does require additional negotiating, which you can do through a real estate agent if you feel your negotiating skills are not up to par. You would have to find someone who owns a trailer park, and who is tired of running it. Perhaps they are ready to retire, or perhaps there are changes to their financial position that mean they are eager to sell. Then, you negotiate terms with the owner, based on what price they want and their and your own unique positions.
Owner financing is not just something that can be used for manufactured homes, either. It is something that can be used for any real estate venture, and may become more common unless banks loosen their credit.
But back to reasons why owning a mobile home park is a good investment opportunity. Firstly, for the reasons I mentioned, you're not likely to get a whole lot of competition when looking around to buy a trailer park, as it is seen as inglorious. This is a good thing, though, as it lessens competition. Next, by owning a mobile home park, the government is likely to be on your side, making it difficult for others to start new, competing parks.
Just one thing to remember. Do not buy a manufactured home NEW! Mobile homes depreciate VERY quickly, and buying new ones are bad investments. But you can certainly make money by renting them out.
(Originally published at The Creating Wealth Blog on 2/4/09)
Opportunies in Dark Times
A lot of people are talking about jobs these days, or rather I should say about the loss of them. Yesterday, I received the report for regional and state employment and unemployment figures for December 2008. This is a month on month comparison by state and tells a grim story about the increasingly gloomy employment picture. Only one state, Louisiana, and the District of Columbia reported an increase in employment, with one state, Oklahoma, not experiencing any major job drop offs. Louisiana is still recovering and rebuilding from Katrina and the District of Columbia was preparing for the inauguration of a new president, so these figures may very well be different next month.
It also makes comparisons to last year, which look only marginally less bleak. Wyoming (+2.2%), Texas (+1.5%), Oklahoma (+1.0%), Alaska(+0.9%), and South Dakota (+0.8%) are the top five of eight that had higher employment figures than this time last year. These may be the best places to find work in the coming year. And then Rhode Island (-4.5%), Arizona (-4.3%), Idaho (-4.3%), Michigan (-4.1%), and Indiana (-3.7%) all experienced the greatest declines in employment. If you live in any of these states and are looking for work, you might have to move.
That said, I got an e-mail about ten opportunities to pursue in the current economy. It was from an online legal site that I was considering using to make up a closed corporation, but I was a bit leery about doing anything through them as it was praised by Rush Limbaugh. Nothing against Rush personally, but I'm not a ditto-head. Anyone who might have some advice on this?
But... back to the ten top businesses to start in a sluggish economy.
1. Financial Advisor: Yes, you heard me... don't make me repeat myself! In uncertain times like these, people need solid advice more than ever. Those "financial advisors" that were there in boom times and are no longer there are on their way to prison (Bernie Madoff) or out there trying to find other work. Those that kept their clientele above water, and saw the way the markets were moving are the ones to talk to. There are a couple of financial advisors on this blog that can give you some great advice. And no... I'm not getting paid to write this.
2. Business Coach: To compete in a tough economy, businesses need to become ever more efficient. If you are a whiz at cutting costs and increasing bottom lines, this is the job for you.
3. Beer Distributor: Yes!!! I mentioned this in a previous blog. Beer is a plebeian drink, and it is less expensive than wine or cocktails, unless you're in South Africa. There are wines here, good wines too I might add, that are available from under $4 a bottle (decent wines also under $3) at current exchange rates. Perhaps importing South African wines could also become lucrative? I would be happy to speak to someone with capital...
4. Reusable Water Bottle Sales: Because of the scares about Bisphenol A and other chemicals that leech into water from plastic bottles, they say bottles containing no BPA will become more in demand. I don' t know about this, but certainly people have taken more and more to bottled water, so why not.
5. Green Café: This is a great idea! Some restaurants here in Cape Town feed their food waste to worms, which create mulch that can be either sold or used to grow organic herbs and vegetables. Oh, and that used fryer oil can be turned into diesel fuel. Here in Cape Town, it is used by people in the Cape Flats as a source of fuel.
6. Consignment Shop: Doesn't require a lot of start up and is part of the whole reuse, reduce, recycle mantra. Personally, I know of one, Bona Celina Resale Boutique, that caters to wealthier types in the Minneapolis area.
7. Automotive and Appliance Repair: Simple really. People are fixing up their cars instead of buying new. Same goes for other major appliances. Another area that may be a growth industry in this same vein is providing information for people who want to fix things themselves.
8. Auto Salvage Yard: Low on funds? I've gone digging around in auto salvage yards for parts before to save money. Again, this goes along with reusing...
9. Residential Real Estate Appraiser: Huh? Well... with all the foreclosures, I guess this will still be a useful profession.
10. Home Healthcare Services: Baby boomers are aging, and they need health care. Home healthcare is a booming industry, and it's a less expensive option than hospital treatment.
(Originally published at The Creating Wealth Blog on 1/27/09)
It also makes comparisons to last year, which look only marginally less bleak. Wyoming (+2.2%), Texas (+1.5%), Oklahoma (+1.0%), Alaska(+0.9%), and South Dakota (+0.8%) are the top five of eight that had higher employment figures than this time last year. These may be the best places to find work in the coming year. And then Rhode Island (-4.5%), Arizona (-4.3%), Idaho (-4.3%), Michigan (-4.1%), and Indiana (-3.7%) all experienced the greatest declines in employment. If you live in any of these states and are looking for work, you might have to move.
That said, I got an e-mail about ten opportunities to pursue in the current economy. It was from an online legal site that I was considering using to make up a closed corporation, but I was a bit leery about doing anything through them as it was praised by Rush Limbaugh. Nothing against Rush personally, but I'm not a ditto-head. Anyone who might have some advice on this?
But... back to the ten top businesses to start in a sluggish economy.
1. Financial Advisor: Yes, you heard me... don't make me repeat myself! In uncertain times like these, people need solid advice more than ever. Those "financial advisors" that were there in boom times and are no longer there are on their way to prison (Bernie Madoff) or out there trying to find other work. Those that kept their clientele above water, and saw the way the markets were moving are the ones to talk to. There are a couple of financial advisors on this blog that can give you some great advice. And no... I'm not getting paid to write this.
2. Business Coach: To compete in a tough economy, businesses need to become ever more efficient. If you are a whiz at cutting costs and increasing bottom lines, this is the job for you.
3. Beer Distributor: Yes!!! I mentioned this in a previous blog. Beer is a plebeian drink, and it is less expensive than wine or cocktails, unless you're in South Africa. There are wines here, good wines too I might add, that are available from under $4 a bottle (decent wines also under $3) at current exchange rates. Perhaps importing South African wines could also become lucrative? I would be happy to speak to someone with capital...
4. Reusable Water Bottle Sales: Because of the scares about Bisphenol A and other chemicals that leech into water from plastic bottles, they say bottles containing no BPA will become more in demand. I don' t know about this, but certainly people have taken more and more to bottled water, so why not.
5. Green Café: This is a great idea! Some restaurants here in Cape Town feed their food waste to worms, which create mulch that can be either sold or used to grow organic herbs and vegetables. Oh, and that used fryer oil can be turned into diesel fuel. Here in Cape Town, it is used by people in the Cape Flats as a source of fuel.
6. Consignment Shop: Doesn't require a lot of start up and is part of the whole reuse, reduce, recycle mantra. Personally, I know of one, Bona Celina Resale Boutique, that caters to wealthier types in the Minneapolis area.
7. Automotive and Appliance Repair: Simple really. People are fixing up their cars instead of buying new. Same goes for other major appliances. Another area that may be a growth industry in this same vein is providing information for people who want to fix things themselves.
8. Auto Salvage Yard: Low on funds? I've gone digging around in auto salvage yards for parts before to save money. Again, this goes along with reusing...
9. Residential Real Estate Appraiser: Huh? Well... with all the foreclosures, I guess this will still be a useful profession.
10. Home Healthcare Services: Baby boomers are aging, and they need health care. Home healthcare is a booming industry, and it's a less expensive option than hospital treatment.
(Originally published at The Creating Wealth Blog on 1/27/09)
Does Anyone Have a Time Machine?
Back in April 2006, the rand-dollar ratio was just over R6 to the dollar. Today it is over 10. Back in October 2008 it briefly went to nearly R11.5 to the dollar, almost double the rate of two years ago.
Now, if I had access to a time machine, I would take all my liquid cash (now in rands), go back to April 2006 to buy dollars, zoom forward to October 2008 to buy rands, and repeat the process until I could retire on a tropical island. Unfortunately for me, I don't know anyone with a time machine.
I now understand why this happened as well as why the rand is still weak. Taking this knowledge, I can perhaps make a profit next time I want to exchange currency.
So... why did this happen? The rand was at a respectable rate even in early August 2008, when it was about R7.2 to the dollar.
It was part politics and part economics.
In mid-September, there were calls for Thabo Mbeki, to step down as president of South Africa. These calls came from his own party, the African National Congress, and his resignation went into effect as of September 25. Within a month after his resignation, the rand had plummeted from just over R8 to the dollar to its lowest point at R11.47:$1.
Mbeki's economic policies were touted as bringing much foreign investment into the country, but domestically the high unemployment and poverty rates made him increasingly unpopular among the majority. Mbeki was nearing the end of his second five year term as president of South Africa, and became increasingly unpopular for how he dealt with his former deputy president, Jacob Zuma, whom he had fired because of allegations of fraud and corruption. Zuma now leads the ANC and is slated to become next president of the country. The problem with Zuma is that he is embroiled in a long term investigation into his allegedly corrupt involvement in an arms deal, for which his financial advisor is now imprisoned because he solicited a bribe for Zuma.
Right about that same time Mbeki resigned, the United States and other major economies were in the process of bailing out banks and trying to avert a full scale collapse of the global economy. South Africa, like much of the rest of Africa, is very dependent on commodities to sustain its economy. With the downturn in the world economy, demand for commodities such as gold, platinum, and other metals fell, causing the rand in turn to fall. And then there was the widespread shedding of investments in all developing economies, as investors scurried for safer places to put their money.
Add to this the recent breakaway party, the Congress of the People (Cope) that is now challenging the ANC for votes in the 2009 national elections, and you have a very chaotic political situation, one from which most investors will steer clear.
I am not one of those investors. I brought over a good portion of my "wealth" to South Africa. There are a number of reasons why I did so. South Africa is Africa's biggest economy, and a major producer of gold, platinum, uranium, and other metals. As such, when the world economy turns around, the rand will improve. Investors will be attracted to the high interest rates of the banks, which did not feel the effects of the subprime lending collapse that their American and European counterparts did. Also, though the political situation is chaotic, there is not the violence associated with elections that you find in other Third World and African countries.
Now is a good time to buy rands, at just over R10 to the dollar. It will stay there at least until the election in March or April (the exact election date has not yet been set). If Zuma becomes president and is then put on trial, I can see the rand tanking further, and may decide to bring more dollars over. Even amid political turmoil, South Africa is well positioned economically to weather the economic storm, and the banks and businesses here will do better than their counterparts in the First World. Plus, I like that I can make over 10% on my money by just putting it in the bank!
Still... there is risk in this move, and I am the first to admit that this might be a mistake. So... does anyone have a time machine?
(Originally published at The Creating Wealth Blog on 1/25/09)
Now, if I had access to a time machine, I would take all my liquid cash (now in rands), go back to April 2006 to buy dollars, zoom forward to October 2008 to buy rands, and repeat the process until I could retire on a tropical island. Unfortunately for me, I don't know anyone with a time machine.
I now understand why this happened as well as why the rand is still weak. Taking this knowledge, I can perhaps make a profit next time I want to exchange currency.
So... why did this happen? The rand was at a respectable rate even in early August 2008, when it was about R7.2 to the dollar.
It was part politics and part economics.
In mid-September, there were calls for Thabo Mbeki, to step down as president of South Africa. These calls came from his own party, the African National Congress, and his resignation went into effect as of September 25. Within a month after his resignation, the rand had plummeted from just over R8 to the dollar to its lowest point at R11.47:$1.
Mbeki's economic policies were touted as bringing much foreign investment into the country, but domestically the high unemployment and poverty rates made him increasingly unpopular among the majority. Mbeki was nearing the end of his second five year term as president of South Africa, and became increasingly unpopular for how he dealt with his former deputy president, Jacob Zuma, whom he had fired because of allegations of fraud and corruption. Zuma now leads the ANC and is slated to become next president of the country. The problem with Zuma is that he is embroiled in a long term investigation into his allegedly corrupt involvement in an arms deal, for which his financial advisor is now imprisoned because he solicited a bribe for Zuma.
Right about that same time Mbeki resigned, the United States and other major economies were in the process of bailing out banks and trying to avert a full scale collapse of the global economy. South Africa, like much of the rest of Africa, is very dependent on commodities to sustain its economy. With the downturn in the world economy, demand for commodities such as gold, platinum, and other metals fell, causing the rand in turn to fall. And then there was the widespread shedding of investments in all developing economies, as investors scurried for safer places to put their money.
Add to this the recent breakaway party, the Congress of the People (Cope) that is now challenging the ANC for votes in the 2009 national elections, and you have a very chaotic political situation, one from which most investors will steer clear.
I am not one of those investors. I brought over a good portion of my "wealth" to South Africa. There are a number of reasons why I did so. South Africa is Africa's biggest economy, and a major producer of gold, platinum, uranium, and other metals. As such, when the world economy turns around, the rand will improve. Investors will be attracted to the high interest rates of the banks, which did not feel the effects of the subprime lending collapse that their American and European counterparts did. Also, though the political situation is chaotic, there is not the violence associated with elections that you find in other Third World and African countries.
Now is a good time to buy rands, at just over R10 to the dollar. It will stay there at least until the election in March or April (the exact election date has not yet been set). If Zuma becomes president and is then put on trial, I can see the rand tanking further, and may decide to bring more dollars over. Even amid political turmoil, South Africa is well positioned economically to weather the economic storm, and the banks and businesses here will do better than their counterparts in the First World. Plus, I like that I can make over 10% on my money by just putting it in the bank!
Still... there is risk in this move, and I am the first to admit that this might be a mistake. So... does anyone have a time machine?
(Originally published at The Creating Wealth Blog on 1/25/09)
The Way Forward
I felt for a moment that I was back in the United States yesterday. People all over the world are rejoicing at the peaceful regime change in the US, and there is a sense of optimism around the world about our country that hasn't been seen or heard in several years. Newspapers are filled with articles on the inauguration and people all over the world are musing about what Barack Obama will do in what is often regarded as the most powerful political office in the world.
Now... with any change in government come clues to where to investment.
Morality aside, under the Bush presidency, it was oil and energy stocks that did well. Military hardware providers didn't do too badly either, as did many companies that supported US troops in Iraq and Afghanistan. Investing in Haliburton would have been a good investment, for example. Even property and stocks in general did well except in the last year and a half of his tenure.
Now, where to invest under a Barack Obama administration? True, many industries are in jeopardy, but there are some slated to do well during his term, or terms, in office. There are clues in his inaugural address. Alternative energy providers will offer future investment oportunities. Wind, solar, and other alternative energy providers will do well. Those companies that help to upgrade America's electrical grid will be good investments. So too will technology stocks, and especially software companies whose programs will help make the health care system more efficient. Science, especially when it comes to stem cells, will open up. There is talk of building much needed infrastructure, such as bridges and highways, as was done under Roosevelt in the 1930s.
But perhaps the most important thing said in his address is an underlying promise of peace and cooperation with others, which will inevitably lead to expanded trade among the nations of the world. Wars are costly things, and if Obama can disengage our military from Iraq and eventually Afghanistan, the United States will once again become a leader among nations, rather than a nation that bullies with the use of its overwhelming military force.
I am uncertain what will happen in the coming days and months and years, and I do not see Obama or his administration as a savior with all the answers, but I will hope that this new government will bring the world's respect for the United States of America back to where it belongs. The investments that this country will make under this new president, the things of which he says we are capable, things that we had forgot that we had done as a people and a nation, and the hope President Barack Obama brings are perhaps the greatest investment that can be made to and by the American people.
(Originally published at The Creating Wealth Blog on 1/21/09)
Now... with any change in government come clues to where to investment.
Morality aside, under the Bush presidency, it was oil and energy stocks that did well. Military hardware providers didn't do too badly either, as did many companies that supported US troops in Iraq and Afghanistan. Investing in Haliburton would have been a good investment, for example. Even property and stocks in general did well except in the last year and a half of his tenure.
Now, where to invest under a Barack Obama administration? True, many industries are in jeopardy, but there are some slated to do well during his term, or terms, in office. There are clues in his inaugural address. Alternative energy providers will offer future investment oportunities. Wind, solar, and other alternative energy providers will do well. Those companies that help to upgrade America's electrical grid will be good investments. So too will technology stocks, and especially software companies whose programs will help make the health care system more efficient. Science, especially when it comes to stem cells, will open up. There is talk of building much needed infrastructure, such as bridges and highways, as was done under Roosevelt in the 1930s.
But perhaps the most important thing said in his address is an underlying promise of peace and cooperation with others, which will inevitably lead to expanded trade among the nations of the world. Wars are costly things, and if Obama can disengage our military from Iraq and eventually Afghanistan, the United States will once again become a leader among nations, rather than a nation that bullies with the use of its overwhelming military force.
I am uncertain what will happen in the coming days and months and years, and I do not see Obama or his administration as a savior with all the answers, but I will hope that this new government will bring the world's respect for the United States of America back to where it belongs. The investments that this country will make under this new president, the things of which he says we are capable, things that we had forgot that we had done as a people and a nation, and the hope President Barack Obama brings are perhaps the greatest investment that can be made to and by the American people.
(Originally published at The Creating Wealth Blog on 1/21/09)
Tips on Customer Service
Is anyone wondering why I haven’t posted for the past few days? It’s a matter of customer service. It's at times like these that I miss America, where telecommunication companies' customer service representatives actual try to serve their customers.
Like the United States back in the 1980s, telecommunications here in South Africa is monopolized by one entity. Telkom. I didn’t realize at the time just how wise those judges and politicians were who broke up AT&T’s monopoly.
Telkom controls all telecommunications, including broadband Internet connections, here in South Africa. There are exceptions, such as wireless iBurst technology, but by and large, everyone in South Africa with Internet connections, both the antiquated dial up and broadband, must go through Telkom. In layman’s terms, Telkom owns the pipe through which information flows. While we have a different provider for the flow of information through the Internet, our provider is dependent upon Telkom for this.
On Friday our Internet connection went down, and after going to our provider and speaking to representatives at Telkom, it was determined that the problem was due to Telkom's lines. Now we had to wait for a technician to come out. As this happened late in the afternoon on Friday, we had to wait the entire weekend for a technician. On Monday, no technician came, and calling Telkom’s customer service became increasingly painful, as they repeatedly told me that they had already handed it off to their technical department, who would deal with it in due course. They also flippantly explained that there “were a lot of faults in our area” and that their technicians were "very busy" and would attend to us when they were able. Several representatives also said that they had no way of notifying us as to when the technician would come.
On several occasions there was much laughter in the background, and the customer service representatives were for the most part extremely unhelpful about when someone might be able to come out to us. Finally, on Tuesday morning, a technician came.
It turned out it was not Telkom after all, but our router, and the technician kindly resolved our problem, though he was not obligated to. Still, the length of wait for a service call and the representatives' unhelpful attitudes left me with a bad taste in my mouth. If I had a choice, I would find another provider for every service Telkom currently provide me.
(Originally published at The Creating Wealth Blog on 1/21/09)
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