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The Big Picture of Business – Wisdom From the Disasters, Recovery Through Compassion and Resilience

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StrategyDriven Entrepreneurship ArticleThe month of September saw natural disasters. In times of crisis, people came together to help each other.

Forces of nature: from disasters came citizens with noble hearts and a willingness to serve others. Young people sought to help, thus inspiring lifelong commitments to community stewardship. The beacons of light came from caring people, corporate contributors and a spirit of goodwill.

Wisdom from hurricanes and natural disasters: Bring your hearts and your hands. The worst disasters bring out the best in caring, compassionate people.

Hurricane storms do not redefine who communities are… they make communities stronger. Volunteers are the glue to resilient communities. In rebuilding after hurricanes, don’t just build the way it was. When there are tragedies, there will always be helpers. Heroism emerging from Harvey and Irma.

The more we do for others, the more we feel the “potlache” of giving to others. Natural disaster stages: Warning, hit, search and rescue, recovery, rebounding, analysis, flood prevention planning, learning from crisis, community development.

Commit to a program of volunteering. Heart warming scenes of neighbors helping each other in disaster spark the passion of citizens to contribute further. Ongoing community needs for volunteers are supplied by Volunteer Houston: http://www.volunteerhou.org. This is the central contact, as they work with hundreds of non-profit organizations in the greater Houston area, ascertaining needs and scheduling volunteers. Volunteer Houston gave me their Lifetime Achievement Award two years ago. To volunteer statewide in Texas, OneStar Foundation is the coordinating entity: http://onestarfoundation.org.

Houston Strong motivational campaign launched. It embodies resilience, rebounding from disaster, teamwork and volunteer spirit. Other memorable campaigns have included: Houston Proud, Texas Cares, Clutch City, H-Town, The City With No Limits, Houston’s Hot, Magnolia City, Bayou City, Energy Capitol, Space City, Texas Sesquicentennial, Texas State of Mind, Don’t Mess With Texas, Spirit of Texas. There were classic radio jingles: “My Home Town” and “Sounds of the City.” And there was “Houston Legends,” my seventh book, a comprehensive city history that inspired community forums, volunteer recognition and nostalgia.

George R. Brown would be so proud that the convention center bearing his name would temporarily house flood victims. He was a community leader and would be warmly greeting the citizens if he were here today. I knew Mr. Brown in the 1960s and 1970s, first as friends of President Lyndon B. Johnson, then later serving together on charity boards. His favorite accomplishments included the establishment of intercity educational and daycare programs. He was born in Belton, TX, joined the U.S. Marines in World War I and co-founded the construction firm Brown and Root. Pictured, GRB and brother Herman Brown. GRB and LBJ.

There are 23,000 non-profit organizations in the greater Houston area, in action to assist flood victims and citizens in need. Many other cities are sending rescue vehicles, supplies and volunteers. Kudos to friends and community supporters. Volunteers are always to be thanked for their service. In crises and other times, neighbors help each other.

In recovery from the disaster weather crisis, it is important to honor volunteers for their service. The more we do, the more we feel the “potlache” of giving to others.

Realities of giving and charity:

  • Ego charities benefit the organizers.
  • Celebrities often get duped into promoting causes.
  • Charitable involvement is not a game or contest.
  • Most companies give to communities.
  • Cause-related marketing is a good thing.
  • Some companies use “philanthropy” as a marketing scam.

Best advice to You, the Humanitarian:

  • Give generously.
  • Pick causes about which you are passionate.
  • Serve causes which serve many.
  • Your time is your most valuable commodity.

We’re a very giving society and want to make a difference. Companies making donations should be recognized. Human caring and hours of their volunteer service are what matters most. After the crisis, many unsung heroes render glorious service behind the scenes, where it matters.

Love and respect to the humanitarians.

About the Author

Hank MoorePower Stars to Light the Business Flame, by Hank Moore, encompasses a full-scope business perspective, invaluable for the corporate and small business markets. It is a compendium book, containing quotes and extrapolations into business culture, arranged in 76 business categories.

Hank’s latest book functions as a ‘PDR of business,’ a view of Big Picture strategies, methodologies and recommendations. This is a creative way of re-treading old knowledge to enable executives to master change rather than feel as they’re victims of it.

Power Stars to Light the Business Flame is now out in all three e-book formats: iTunes, Kindle, and Nook.

Unexpected Issues with Business Trips

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No matter how well you plan your business trip, sometimes there are events that take control away from us entirely. The best-laid plans are often the ones that fall apart in the face of adversity, and if you’re in an airport lounge or driving across the country, those hindrances can heavily impact your travel arrangements and business schedule. Sometimes, issues with business trips are completely out of our control, but knowing how to react and respond to them will go a long way to minimizing their impact on you and your career. Here are the best ways to cope with the most unexpected of issues.

World-Changing Events

Getting swept up in global events can be very frightening, and the fact is that there is, unfortunately, very little that you can do to prepare for them. Natural disasters, worker strikes, and even political unrest can have a severe impact on your travel plans, and they are far too big to manage on a personal level. The only thing that you can do in these big situations is to ensure that your friends, family, employer and work colleagues are aware of your location and your plans. In worst case scenarios, contact your nearest embassy and get advice on what to do next.

Car Accidents

Business trips by car are a great opportunity to discuss your strategies with your team and bond closer. Even if you’re traveling alone, car trips can be ideal for organizing your thoughts and mentally preparing yourself for the work commitments ahead. Car accidents are, of course, all too common, and if you’re injured while on a business trip, then there are going to be additional issues to consider, such as the insurance of your employer. As with any kind of traffic collision, it’s worth seeking legal advice from a team that has experience in automobile cases. Ideally, you want a legal team that works cross-country, with firms like Lopezlawpa.com who can advise you and guide you on the best course of action and has specialist knowledge of road accident cases.

Lost Luggage

If you frequently travel for work, you will have already perfected the art of packing! Losing your best luggage sets can be a considerable source of frustration, but the smart traveler will be prepared for the eventuality. Never pack vital work equipment or notes in your check-in suitcases, and always keep the most critical parts of your inventory close to hand. Never travel on a business trip without adequate travel insurance, and always be aware of the responsibility of your airline or coach when it comes to lost luggage. Of course, the best advice to avoid lost luggage is not to check any in and rely on your carry-on allowance instead.

The more that you travel for work, the more likely that you will eventually encounter mishaps, mistakes, and accidents. Always be aware of the potential for them and know what to do in the more extreme cases. Delays and cancellations may impact the end result of your business trip, but your safety and security should always be the priority.

Why You Should Invest in Tech Stocks

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We are currently surrounded by big technology stocks such as Amazon, Alphabet Inc, Microsoft, Facebook, Apple; with some of these stocks crossing the $1,000 per share mark, they can be (and very much are) an attractive investment opportunity. Given that technology is currently shaping our world and everything in it, big technology stocks are only going to increase in price and become more valuable as time goes by, meaning they have the potential to make those who invest in them very rich indeed. Although some of the major technology stocks have climbed to astronomical levels, their current values are only just the beginning.

In the broadest sense, this category of “tech stocks” includes any stocks which are involved in the research, development and distribution of technological goods, services and solutions. So, they include companies which produce everything from computer software and hardware, televisions and even mobile games such as Angry Birds. In 2017, technology stocks offered investors the highest return on investment at an average of 34.28%… not too shabby!

#1: High Returns Does Not Mean Low Risk

Just because there have been strong returns, this does not mean that there are zero risks involved. As we are well aware, technology can change at a rapid pace, often overnight, and companies which are currently leading the way can soon fall behind as new and innovative companies come along and take the top spot. In some cases, technology companies can be forced out of business by new entrants to the market. Although this is unlikely to happen with market leaders such as Amazon, it is not impossible, and this is something which should always be kept in mind.

In addition, investing in emerging companies may appear like an attractive investment opportunity, however, it is not unheard of for companies which were expected to perform well disappear overnight into the abyss. The best stock research tools give you the most information in the most intuitive way. Many of these tools are free, and any investor can use them.

Although technology is a very exciting investment space that includes everything from smartphones to blockchain, artificial intelligence to streaming services and more, there are inherent risks which you expose yourself to by ploughing your money into technology companies.

#2: Areas for Investment

As mentioned, technology investments are very varied and include a range of companies and products. Once upon a time, tech stocks would have been almost exclusive to computer hardware and software. These days, however, it includes all sorts. In fact, it is hardly accurate to call most tech companies which operate in the market computer companies (think Apple, IBM and Microsoft) because they operate in several other areas such as:

  • Artificial Intelligence where computers perform tasks which once would have only been possible by human beings. AI is one of the fastest growing and most prominent areas for investment, however, this technology still has a long way to go and it is far from perfect.
  • Smartphones, the industry of which is led by Apple and Samsung. There are a lot of other players within the smartphone market producing everything from software, mobile apps and physical mobile devices.
  • Blockchain, something which has gained a lot of publicity in the last couple of years. It is the technology which backs up Bitcoin and other industry-leading cryptocurrencies, however, it has applications to far more than just cryptocurrency.

These three areas demonstrate that the tech space is dominated by far more than just computers, and that there are several investment opportunities available to those who want to get involved. Given that there are so many possibilities, it can be difficult for new investors to get involved in the market.

#3: 4 Tech Stocks Worth Looking At

Although the market is huge and there are infinite investment possibilities, there are four major contenders which are worth looking at.

1. Apple

Apple is by far the world’s favorite consumer tech company, leading the way with their range of smartphone and laptop computer devices. Apple’s stocks usually rest around the couple-of-hundred dollars mark and given the insatiable appetite of consumers for Apple’s products then it is a stock which isn’t going to be decreasing in value soon.

2. Alphabet Inc. (Google)

Alphabet, Google’s parent company, is also a very attractive investment opportunity. Google leads the way on the internet by providing several services which we all know and love such as Googlemail and YouTube. The main problem with investing in Alphabet is the fact that their shares sit at around the $1,100 mark. If you can afford it, though, it is worth going for, because this company is going to continue to grow as it focuses on new ventures.

3. Facebook

Facebook is a money-making machine and whilst the recent data scandal has harmed the social networking giant, it is not going to be shutting up shop any time soon and at around the $200-mark, Facebook’s stock is incredibly cheap. It is likely that we will see Facebook continue to grow strongly over time at a rapid pace.

4. Amazon

Amazon is an unstoppable company which is beginning to encroach on our lives in entirely new ways. From Amazon Key and drone delivery to AI solutions such as Amazon Alexa, the company is really pushing boundaries with its innovative technologies and desire to satisfy consumer demand at all levels. Amazon’s shares usually rest around the $1,900 mark which, again, whilst pricing some people out, it is worth spending your money on should you have enough to do it. Amazon’s share price exceeding the $3,000 mark is far from being a far-fetched idea; it is more a question of when this will happen.

Today, tech stocks represent the most valuable of all investments, second perhaps only to gold and other timeless precious metals. As the world begins to demand more and more from technology and new developments occur, having a stake in some of the world’s foremost technology companies is likely to provide a sizeable return on investment in the future, especially if you buy into them now whilst their shares are still relatively low compared to what they could be.

The Big Picture of Business – Entrepreneurs’ Guideposts to Real Business Success

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StrategyDriven Entrepreneurship ArticleThere are many romantic notions about entrepreneurship. There are many misconceptions.

People hear about entrepreneurism and think it is for them. They may not do much research or may think there are pots of gold at the end of the rainbow. They talk to other entrepreneurs and learn that it all about perseverance and building sweat-equity in companies.

The wise entrepreneurs have mentors, compensated for their advice, tenured in consulting and wise beyond reproach. Advisers are important to fitting the entrepreneurs to the right niche. Mentors draw out transferrable talents to apply to the appropriate entrepreneurial situation.

The corporate mindset does not necessarily transfer to small business. Just because someone took early retirement is not a reason to go into a startup business. People who worked for other people do not necessarily transfer to the entrepreneurial mode.

Those who have captained teams tend to make better collaborators and members of others’ teams. Entrepreneur is as entrepreneur does

Make an equitable blend of ambition and desire: Fine-tuning one’s career is an admirable and necessary process. It is quite illuminating. Imagine going back to reflect upon all you were taught. Along the way, you reapply old knowledge, find some new nuggets and create your own philosophies.

We were taught to be our best and have strong ambition to succeed. Unfortunately, we were not taught the best methods of working with others in achieving desired goals. We became a society of highly ambitious achievers without the full roster of resources to facilitate steady success.

Every company must and should put its best face forward for the public. Public perceptions are called “credence goods” by economists. Every organization must educate outside publics about what they do and how they do it. This premise also holds true for each corporate operating unit and department. The whole of the business and each sub-set must always educate corporate opinion makers on how it functions and the skill with which the company operates.

Gaining confidence among stakeholders is crucial. Business relationships with customers, collaborators and other professionals are established to be long-term in duration. Each organization or should determine and craft its own corporate culture, character and personality, seeking to differentiate itself from others.

Every business, company or organization goes through cycles in its life. At any point, each program or business unit is in a different phase from others. The astute organization assesses the status of each program and orients its team members to meet constant changes and fluctuations.

I’ve talked with many entrepreneurs and founders of companies which rapidly grew from the seed of an idea they had. Most admitted enjoying the founding phase but lost interest shortly after giving birth. Over and over, they said, “When it stops being fun, I move on.”

After the initial honeymoon, you speak with them and hear rumblings like, “It isn’t supposed to be this hard. Whatever happened to the old days? I’m ready to move on. This seems too much like running a business. I’m an idea person, and all this administrative stuff is a waste of my time. I should move on to other new projects.”

When they come to me, they want the business to transition smoothly and still make the founders some money. They ask, “Are you the one who comes in here and makes this into a real business?” I reply, “No. After the caretakers come in and apply the wrong approaches to making something of your business, I’m the one who cleans up after them and starts the business over again.” The reality is that I’m even better on the front end, helping business owners avoid the costly pitfalls attached to their losing interest and abdicating to the wrong people.

Entrepreneurial companies enjoy the early stage of success…and wish things would stay as in the beginning. When “the fun ends,” the hard work begins. There are no fast-forward buttons or skipping steps inn developing an effective organization, just as there are no shortcuts in formulating a career and Body of Work.

Questions to ask entrepreneurs:

  1. Do you have goals for the next year in writing?
  2. Are the long-range strategic planning and budgeting processes integrated?
  3. Are planning activities consolidated into a written organizational plan?
  4. Do you have a written analysis of organizational strengths and weaknesses?
  5. Do you have a detailed, written analysis of your market area?
  6. Do detailed action plans support each major strategy?
  7. Is there a Big Picture?

About the Author

Hank MoorePower Stars to Light the Business Flame, by Hank Moore, encompasses a full-scope business perspective, invaluable for the corporate and small business markets. It is a compendium book, containing quotes and extrapolations into business culture, arranged in 76 business categories.

Hank’s latest book functions as a ‘PDR of business,’ a view of Big Picture strategies, methodologies and recommendations. This is a creative way of re-treading old knowledge to enable executives to master change rather than feel as they’re victims of it.

Power Stars to Light the Business Flame is now out in all three e-book formats: iTunes, Kindle, and Nook.

How Credit Card Companies Make Their Money

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StrategyDriven Practices for Professionals Article
 
You’ve likely experienced a fair amount of credit card companies trying to entice you via offers in the mail. When you consider the fact that the United States’ total credit debt reached $1 trillion in 2017, it becomes clear why: these credit cards are a massive source of revenue.

On the surface, credit cards may seem like simple and convenient money and nothing more. However, there are also aspects of credit cards that are somewhat deceptive – sometimes intentionally so. Often the upsides of the card are written in large print, while the downsides are written in a conveniently small font.

The ease of credit card use can spell trouble for more impulsive buyers, which highlights the importance of knowing yourself and the ways that you tend to deal with feelings like anxiety. We may think we are above the influence that stress has on our finances, but studies indicate the contrary. In fact, compulsive buying disorder impacts 5.8% of the US population and affects people of all ages.

High-Interest Rates

StrategyDriven Practices for Professionals Article
 
Obviously, credit cards can allow you to pay for things when you don’t have money at that point in time, but this convenience also has a dark side. Thinking that this is “free money” is a mistake many credit card initiates make, particularly among a younger demographic. Unfortunately, this paves the way for young credit cardholders to dig themselves into a hole that may take years to free themselves from.

It’s important to remain aware that credit card interest rates are commonly in the 20% range. This puts an impetus on debtors to pay off the amount sooner rather than later at the peril of being slammed with penalties that are hard to deal with. In addition, keeping a balance of over 10% of your credit limit tends to weigh heavily on your credit score.

Another common tactic that credit companies employ is appealing to potential card holders with an initially low rate, which then balloons into a far more severe figure after the initial enlistment period ends.

For best practice, keep a low balance on the credit card as much as possible, and always pay off the required amount by the due date. If a large amount is spent on a credit card that can’t be paid off, taking out a loan to avoid the sky-high interest risk is generally the better course of action than taking the hit.

Charges To Merchants

Many times businesses enact a minimum cost for credit card charges. This is because companies charge an extra 2-3% on all purchases to merchants. In order to counteract this charge, businesses create a mandatory minimum.

This small percent may not seem like much, but in the scope of the billions of credit transactions that take place every day, this amount adds up. This rate becomes one of the biggest revenue streams for credit companies.

Cash Advances

StrategyDriven Practices for Professionals Article
 
Apart from your total credit line, the cash credit line. The cash you take out from your credit card abides by a different set of rules than the regular use of the credit card. In other words, the interest rate is often higher and may begin amounting interest as soon as you withdraw it.

Differing Tactics According To Demographic

A person with less education tends to get specially designed advertisements showcasing more rewards than the advertisements aimed at more educated individuals. This effectively runs up debt more reliably than if they advertised the same way across the board.

On average, each credit account makes about $213 for the company per year. This is an area in which credit companies vary wildly based on the credit standing of the cardholder.

Fees

When someone has bad credit already, their credit lenders are known as “subprime issuers”. In these cases, the credit company usually makes more money from fees than interest rates. Some examples of these fees are outlined below.

  • Balance Transfer Fees – Transferring debt from one credit card to another with a lower interest rate often results in a fee of 3-5% of the amount moved.
  • Late Fees – If the minimum amount is not paid by the due date, late fees often result. In some more deceptive cases, the initial fee is waived only to deliver an unpleasant surprise the second time around.
  • Annual Fees – these are especially common on cards that promise higher rewards rates, as well as on cards issued to people with subpar credit.

Foreign Exchange Fees

One source of fees that catches many credit users off their guard arises when traveling in a foreign place. Many times these charges are made at the time of purchase, and generally amount to around 2.5% of the purchase price.

This fee may be a small price to pay generally speaking, but it still might be a reason to avoid making large purchases when traveling abroad, or opting to use cash if you do.

Commission From Selling Cardholder Names

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You may wonder how credit companies know who you are and where to send their advertisements to. One of the sneakier ways that credit card companies make money is by selling your name and info to other companies so they too can bombard you with advertisements.