Thursday, July 11, 2024

Business Survival Strategies – Today Until 2012

I have been speaking for more than a full year now of the various hardships that the declining worldwide financial system will be touring upon us at some stage in the path of the worsening worldwide recession (which I could never call a “despair,” as this latter term has ended up Politically Incorrect). In so doing, I have had more than a few deluded souls roll their eyes at me as though I were an alarmist — “Douglas Castle…Haven’t you lived long enough to recognize that that is a brief downturn? Give it some months, and things will ‘choose up.'” Well, they haven’t, and I’m afraid I have to disagree that they may until sometime in 2012.

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THIS RECESSION IS DIFFERENT. We are witnessing the crumble of a credit-fed, overextended economic system. Too a good deal of credit, an excessive amount of creative accounting, and too much systemic inefficiency have come domestic to roost, just like the Raven in Edgar Allen Poe’s well-known poem of tragic loss and lament. A not-on-time, albeit inevitable, day of reckoning has come. I may want to say, “I advised you so,” if I were extra like my dear mom (who will continue to be nameless here, as I attempt to be a good son), but I won’t. Here all of us are.

Yet, opportunities are coming to light as doorways to conventional employment and credit score markets are being decimated using the fearful people in charge. I want to discuss those here. Grinning and head-nodding aren’t only approved but also strongly recommended.

Here are the approaches to suppose, the places to be, and the things to do:

1. You likely ought to in no way believe a man with the remaining name “Madoff” and your cash… And even though each U.S. Protection legal professional could at once leap out at me and say, “In line with the American System Of Justice (all upward push!), he [Bernard Madoff] is ‘presumed innocent till demonstrated guilty,'” my guess would be with “any man or woman, at any time, is as responsible because the authorities wish him to be.” To wit: former New York chose Sol Wachler (who, himself, became snared by using the FBI at the same time as dressing up as a cowboy and stalking his one-time mistress) as soon as stated, “An appropriate prosecutor ought to indict a ham sandwich,” and the U.S.

As I write this, the government’s conviction fee stands an extra 98%. Similarly, do now not lend money to a fellow whose name is “Skip.”…Be very cautious before courting a person whose ultimate call is “Loveless,”…And by no means throw a couple of footwear at another man or woman the U.S. Secret Service covers. As a side observer, throwing a pair of used fitness center socks is less expensive, just as offensive across a broad spectrum of cultures, and may make you well-known. This ends the funny part of this text;

2. Understand the difference between Tactics and Strategies — Strategies are the longer-term plans you’re making for achieving your remaining dreams and goals, according to your pursuits, desires, and inclinations. A strategic plan might span from numerous months to an entire lifetime, but its vacation spot is where you want to be. Tactics are quick-term projects for dealing with the impediments, complications, and situations you encounter alongside the direction to achieving your desires and objectives.

They regularly involve palliative measures, adjustments in timing, and a slight detour from the map –. Still, they are instant motels and should never maintain your final consciousness out of your desires and objectives. The simplest analogy is in a scenario where you’re making plans to go to a supermarket. Your normal route is blocked off by using Police Crime Scene Investigators, a fallen tree, a wooden line of anti-authorities protestors, an oily chemical spill, or an inoperative visitor light; even as you navigate a new path (the tactic), you may nonetheless be heading for the grocery store (the method to assuage your hungry children who’re affected by Taco-Bell Gastritis). Don’t lose sight of strategy when engaged in a tactical maneuver;

3. Renegotiate your home mortgage, in addition to different non-public and enterprise debts with institutional lenders — even as they may be typically as heartless as they’re headless, they would, as a substitute, have an acting mortgage (or maybe a mortgage settled at a discount) than a defaulted or non-acting loan. They are brand new ‘bad guys’ and have positive subtle regulatory imperatives, making them extra receptive. Be proactive and scare them a chunk. They want to preserve your loan’s incorrect status, even supposing their tactic du jour is to restructure or regulate your compensation timetable.

They could be extra cooperative in case you are very expressive with them approximately 1) the dire financial effects with which you are confronted, 2) together with your know-how that they are, in truth, doing this for lots other borrowers, and with the fact that 3) it’s for a “win-win” proposition for them [trite but effective] in phrases of their profession paths and compliance with a robust ethical imperative imposed upon them via the government which revealed the money with which to bail them out. Although you may surely be on the smartphone while speaking with those overwrought bankers, try and maintain an instant face and chorus from immoderate sarcasm. By the way, do not waste time with those aggressively advertised purchaser credit management agencies…Negotiate with every credit card corporation yourself;

4. If you should pay the Internal Revenue Service or any tax authority, try paying via postal cash order instead of looking at it. This may additionally assist to forestall or even prevent any levy and seizure of your bank account. I might upload that if you are a U.S. Citizen or have any birthday celebration difficulty to U.S. Taxation, pay well-timed and deal with the tax authorities as your highest-precedence creditor.

They have unlimited (unchecked) power and get admission to something you own or earn, and they can tack on hobbies, consequences, and different expenses at will. You are outgunned – render unto Caesar earlier than he sends his foot soldiers when you, specifically while Caesar is determined for cash to pay lower back antique gambling money owed;

5. If you’re in a technical, commercial enterprise or trade, cognizance of your property, advertising, marketing, and efforts on restoration and upkeep — While human beings cannot have the funds for new autos, houses, and other big-price ticket objects, they’re more and more compelled to take care of and hold what they already have. Don’t sell a new container — promote the servicing and upgrading of the antique, however salvageable;

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6. Businesses that conduct e-trade via the net are tons higher picks for investment and advertising than geographically anchored groups, which human beings must have the power to acquire merchandise. This is the era of the online entrepreneur. Consumer purchases will be declining, but a growing percentage of them will relate to a) repairs and maintenance and b) online purchases;

Jenna D. Norton
Jenna D. Norton
Creator. Amateur thinker. Hipster-friendly reader. Award-winning internet fanatic. Zombie practitioner. Web ninja. Coffee aficionado. Spent childhood investing in frisbees for the government. Gifted in exporting race cars in Orlando, FL. Had a brief career short selling psoriasis in Ohio. Earned praise for getting my feet wet with human growth hormone in Minneapolis, MN. Spent several years creating marketing channels for banjos for farmers. Spent 2002-2010 merchandising karma for no pay.

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