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What My MBA Was Good For

Yes, I have my MBA.  I was awarded my Masters in Business Administration, Technology Management in 2009 from the University of Phoenix.  Yes, we have a big football stadium and are undefeated.

My MBA proves once and for all that I actually can get straight A’s.  I had 13 classes for my MBA, tested out of 2 others, and got all A’s for my MBA.  I proved that I could get my bachelors (2005) followed by my MBA… so that my children know that if their nutty dad can do it, they obviously can too.

My MBA game me a foundation for project management.  My MBA taught me the legal ins and outs of various business issues.  My MBA taught me about business ethics… which, by the way, can vary from culture to culture.  My MBA taught me how to research and apply critical thinking. Continue Reading »

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Academics | No Comments

How Tornados Are Good, And Bad, For Business

Fairdale, IL

Before I get started, I want to say that I feel for people who lose homes, or loved ones, during a tornado.  Tornados are not a laughing matter in real life, they cause real damage.  And what do you do when your home is damaged?  You make an insurance claim, get a check, and fix the damage.

Then how are tornados good for business?  People hire companies and buy supplies to fix or rebuild their homes.  Companies benefit from the spending.

How are tornados bad for business?  For insurance companies who have to pay for damages, they are not so good.  Although rates may go up so they may benefit somewhat from future rate increases.

You can make these kinds of speculations with all kinds of things.  For instance, the population is aging.  What companies does that benefit?  What companies will suffer?

While these kinds of speculations benefit stock traders, they can also help business people.  How?  Say you are Walgreens.  What strategy can you take to serve older baby boomers?

What strategies have you taken in your business to anticipate change?

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Management | No Comments

Stories Only Business People Would Understand

You have challenges that most people do not understand. You make an amount of money (revenue) that most people do not understand. They think you must be rich. But when it comes to spendable money, you have less than they do.

In fact, I feel a little poor right now.  I had three months without a project last winter.  I am behind on several things still.  But luckily my revenue, and profit after expenses, are decent enough to catch up at a pretty good clip.  Still, by the time I am done catching up, I may be between projects again.  I may be short on money to pay some bill, credit card, expense, in a manner that the creditor would approve of.

My best advice when it comes to finance is to make sure your margin is something you can live with through the good and the bad.  Your margin is your profit beyond expenses.  Or better put, profit divided by revenue.  Often we underestimate what our expenses are or do not include all expenses in our calculation.  Perhaps you do not include time off.  Or you do not include management expenses but only project expenses.  Best to calculate a margin you can live with and update it often when things become more tight than you expected. Continue Reading »

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Finance, Management | No Comments

Don’t Be Afraid To Make Mistakes In Business

Mistakes can be expensive.  Mistakes can also be foolish.  Mistakes can create friction with customers, suppliers, employees, yes.  But the thing is, as perfect as you are, you will make mistakes.

If you are so petrified that you will make a mistake, you will do nothing, which is the most expensive choice of all.  A thoughtful choice made that turns out to be a mistake is better than a choice not made.

It is very important that you make ethical and legal choices, but if you make an honest mistake, you can expect to be able to work your way through any problems created.  However, if you make a bad choice knowing it is a bad choice, you can expect consequences.

The body of knowledge needed for business is so vast, not everybody can know everything.  Ultimately that is why you work with teams as your business grows so that your accountant, attorney, technical specialists, and analysts can help you with advice to avoid as many mistakes as possible.  But still, mistakes will happen.

Don’t be afraid.  Go forth and make good choices and you will be okay.

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Entrepreneurship | No Comments

Have A Cookie

Have A CookieOpportunities abound. I mean, they pass you by every day. Really. Once you tune into them, your problem will be which one to choose… and I am going to give you some help there.

To reach the most people, you need a unique solution to a problem. There are so many problems to solve too. For instance, how do I get from point A to point B at 800 miles per hour without leaving the ground? How do I get into space with much less waste? How can we use much less oil-based energy?

Problems like these are gifts. Like a cookie. If you can create a practical solution, you can become wealthy beyond belief.

Many of you have smaller dreams… like to own a service station on the interstate, or become a distributor for a product line. Regardless of what you do, you can create a unique product and a unique brand that will do better than a “me too” business. Study what’s out there… many people get it and you will see them with their unique takes on given businesses.

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Entrepreneurship | No Comments

4 Skills Every Working Adult Should Learn (Online, for Free!)

As Business Fizz and other blogs of its ilk have made clear, we are now entering a new age, one in which skills considered instrumental to being employable are no longer as necessary. On the hand, skills deemed useful only to a handful of computer geeks a couple of decades ago, are now common currency among most employees. If they aren’t yet, they should be, because many jobs go unfilled since employers cannot find qualified candidates with the right skills. Here’s what you need to know:

1.     HTML

Of course, not everyone necessarily needs to know HTML, the basic markup language of web pages. But if you plan on conducting any part of your business online, or if you intend on working for a company that does, then knowing basic HTML can help you tremendously. If you are a business owner, knowing HTML well may mean you can skip the cost of hiring someone to design every single part of your website. I learned HTML fairly late in the game, and I’ll say right off the bat that it’s quite easy, as long as you practice. Here’s a great place to learn the basics. Continue Reading »

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Academics | No Comments

Have You Ever Wanted To Give Up?

As I am looking at my blog today, I wonder if it is time to give it up. It’s been a good friend for a long time and I have produced between 300 and 400 articles for it. I just kind of wonder if it is time to move on and let it be?

Well, I am a little too stubborn for that. I like this blog and I want to continue writing, but I am also having a difficult time getting re-started. So for all of you looking for something new from me here, or those of you who sent me emails I haven’t responded to, just hang in there. We will get the ball rolling again.

Our products distribution business has been really active lately, doing over $4,000 per month in sales and more than 50 new distributor leads per month (yes it is a multi-level marketing distributorship). I hired Chris full time to manage the business because I was simply too busy for all of the activity. Since she has really taken over and I have done my best to ignore what’s going on so on can concentrate on other things. Continue Reading »

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News | No Comments

Combining Your Insurance Coverage to Save Money

Harjinder Kalirai

Like many people out there you probably get lost each month in the process of paying off small debts, paying bills and paying for weekly shopping expenditures. Whilst this is entirely normal, keeping track of everything can be difficult and paying for everything seems to keep getting harder. As the price of nearly everything increases and the amount you are being paid remains at a flat rate, it may be time to look for better ways to reduce the costs of your monthly bills.

Instead of cutting back on holidays, saving on general expenditure, and generally trimming the fun, there are other ways to save. If you have multiple insurance policies, then combining these may make the payments easier and give you a lower overall rate too. This is a great option to consider to cut back on the monthly bills.

Combining Coverage

Instead of paying for life insurance, home insurance, health insurance and car insurance as separate policies each month, it is worth considering combining as many of these as possible to get the best premiums possible. Whilst not all providers will offer insurance combinations, it is certainly worth considering when you are looking for life insurance quotes. Continue Reading »

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Management | No Comments

Managing Online Reputation: One of the Vital Aspects of any Business

F Delventhal

Creating and managing a positive reputation online is not an easy task for any business these days.  Companies today get a lot of media exposure which can be both good and bad for their image in the public eyes. People are now more aware and do not hesitate to share their experiences and opinions about anything they are concerned with. This freedom of expression and exposure to various media forms makes it difficult for business organisations to avoid criticism and create a completely positive image among the customers. This is where the professional online reputation management (ORM) teams come into picture.

Whether you have one product/service or many, you are bound to have some satisfied and some unsatisfied customers. Sometimes the unsatisfied customers turn hostile and they get busy in letting the world know about their bad experience. Their negative and derogatory comments on personal blogs, social networks and other such platforms can deeply harm the image of an organization, brand or product. A professional ORM team can help you in mending a damaged reputation and further maintain it to assure a continuously growing business. They can do things to regulate the circulation of positive feedbacks, comments and content about your product or brand to build a positive image for you. Continue Reading »

Technology and Internet | No Comments

Tips for Upgrading Your PC

(c) David Wright

Upgrading your PC is a necessary step every few years. If you run a business then you may even find yourself upgrading even more frequently than this to keep up to date with the times. Upgrading can relate to three things: upgrading the software, upgrading the hardware, or buying a new computer.

Often the first two of these elements will go hand in hand, but this article will consider these three aspects individually at first.

Upgrading the Software

Upgrading the software is the cheapest way to upgrade your computer, but it can also often have a huge impact on productivity and your efficiency. Upgrading your OS is the best place to start because this will speed your processes up and get the ball rolling. Continue Reading »

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Technology and Internet | No Comments

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