Wednesday, March 22, 2017

8 Ways Your Tax Refund Can Work For You

By Dinorah Nieves and Dawid Wiacek

With tax season upon us, many are wondering how to get the biggest bang for each buck of our refund. Save it for a rainy day? Take that trip your family's been talking about? The list goes on. It's one of the few times each year that we find ourselves check-in-hand and uncertain of how it would be best spent. Sound familiar? If so, consider investing that refund back into your career! Studies show a strong correlation between job satisfaction and overall happiness, so every dollar invested in furthering your career is a dollar well spent all-around.

Here are eight ways to get that refund working for you:

1. Take an online course for a specific skill.

This doesn’t mean you have to shell out thousands of dollars or return to school full-time. These days, there are tons of online courses available, many of which are free or low in cost. If there’s a particular skill set that is well-regarded in your line of work but absent from your resume, now is the time to add it. Whether it’s a technical skill (e.g. software, statistics) or a soft skill (e.g. management, leadership), learning a new skill can boost your confidence, impress prospective employers and command a higher salary. Don’t forget to add it to your resume.

2. Attend an industry training or trade conference.

Whether you work in a common industry (e.g. healthcare, finance), or one that is a bit more obscure (say, underwater hospitality), nearly all industries have trade conferences, expos, trainings, and other events where you can network, pitch, sell and brush up on your field-specific knowledge. For just the cost of registration (and maybe associated travel), you’ll meet prospective clients, business partners and mentors. Plus, you’ll learn what’s brand spankin’ new in the industry, which you can leverage in the name of a promotion.

3. Buy a modern, well-fitting suit.

We don’t advocate blowing through your entire refund check on all the latest fashions, but there is one item of clothing that is a must in every professional’s closet: a modern, industry-appropriate, well-fitting and comfortable suit. Even if you don't believe that style matters in your particular line of work, a sharp suit can make a strong impression and boost your self-confidence at the next interview, business meeting or networking event. Have at least one neutral-colored, clean and pressed suit, ready to roll at all times. You never know when the next opportunity will arise.

4. Hire a career coach.

Consider the benefits of hiring a professional coach. If you feel stagnated, confused about next steps, or exhausted by the job search, an experienced coach can help breathe new life into your work ambitions. A good coach can beef up your resume and LinkedIn profile, boost your networking presence, prep you for challenging interviews, and teach you critical negotiation techniques. Securing a successful job transition can be difficult (whether we're talking a promotion, a new job or a whole new field). The money you invest in a career coach is likely to come back to you tenfold in the form of higher pay and greater fulfillment.

5. Upgrade your professional tool belt.

Sharpen your competitive edge by ensuring that your professional tools are top-notch. Whether you're an accountant who depends on complex software or an artist ready to try a different canvas, the advice is the same. New products and materials are constantly hitting the market, increasing efficiency and pushing the limits of creativity. Do your research and purchase the best equipment your trade has to offer. Armed with the right hardware, software and supplies… you’ll be unstoppable.

6. Download good "apps".

Your time, money and connections are your three most valuable career-related resources. Yet, with so much going on in your life, it probably seems hard to keep track of any of them, doesn't it? Lucky for us, there are apps out there to help you do just that. Use your computer, tablet and/or smartphone to access "applications" that mange your money, schedule your time and organize your networks. You can find "To-Do" lists for your tasks and deadlines, sophisticated calendars that help structure your schedule, expenditure trackers for your finances and phone books that re-arrange your contacts by job title and other helpful networking categories. Flip through the demos, read the reviews and then buy one or two to get you started.

7. Take your colleagues to lunch.

Part of what makes a job satisfying, is the feeling of community that one gets from their team. So, whether you currently have a group of co-workers that you feel grateful for, or want to make a friend or two to "talk shop" with, treating a few folks to lunch is a great way to foster some business bonding. Take them to that little bistro you like so much, or just have a few pizza pies delivered to the office during lunchtime. It can help to offset the daily stresses of hard work and foster communication between you and your comrades.

8. Decorate your work space.

Statistics show that employees who decorate their work space are more productive than their counterparts. So, think about what gets you motivated and make sure your space reflects those stimulating sounds, sights and scents that keep your spirits at their highest. Paint your home office a warm color, spruce up your cubicle with colorful flowers or keep soothing oils in the car for your days "out in the field."

Too often people spend their refund check on impulsive purchases, only to find that the clothes quickly go out of style or the gadget is obsolete a few months later. Your refund check can be so much more useful for your career and general life satisfaction. Take a moment to assess your professional trajectory—everything from your office desk to your industry skill set, from your business suit to your networking opportunities—and find the best way to invest the money in yourself. You’ll reap those career benefits for a lifetime.

David is an experienced career coach and copywriter. His clients range from recent college grads to C-level executives. He helps professionals navigate the complex modern-day job search to find more fulfilling, better-paying jobs. For more information, visit: davidthefixer.com

Dr. Dinorah Nieves is a life coach, writer and motivational speaker known for her unique brand of edgy enlightenment designed to help you to get focused and grow hard. For more information, visit: http://www.DinorahNieves.com

Now That Bitcoins Are Worth More Than Their Weight In Gold, Is It Time For Central Banks To Make Their Own?

Nafis Alam, Sunway University and Graham Kendall, University of Nottingham

The history of gold trading can be traced back hundreds of years while bitcoin, a digital currency that uses encryption and works independently of central banks, has been around for less than ten.

But the cryptocurrency is now starting to challenge gold as the investment of choice. Its meteoric rise is such that on March 3, 2017, bitcoin overtook gold for the first time, trading at US$1,290 compared to US$1,228 for an ounce of gold.

All the gold that has ever been mined would easily fit under the legs of the Eiffel Tower – in fact, multiple times. Gold’s scarcity is one reason for its value. Another reason is that it’s a very nonreactive metal so it doesn’t tarnish, which is important if you’ve invested millions and don’t want it to slowly deteriorate.

Most governments keep some of their funds in gold (as the video below explains). But although gold is seen as a safe haven in times of crisis, it is still subject to the usual market fluctuations of any commodity. Once the bitcoin reaches its full potential (all bitcoins are mined) the value will be much more stable.

What is bitcoin?

Bitcoin is a virtual currency used for electronic purchases and transfers. It has recently been gaining popularity and a growing number of businesses, including WordPress, Overstock.com, and Reddit, now accept it as a form of payment. Microsoft already accepts bitcoin payments through its Windows 10 and Windows 10 Mobile platforms, while those shopping online at Shopify may use bitcoin as payment.

Bitcoin is also moving outside the virtual space; what may be the world’s first bitcoin store, House of Nakamoto, opened early this year in Vienna. There, people can buy bitcoins for euros, and vice versa, from a dedicated bitcoin ATM. Drinkers in Cambridge can pay for beers at a pub called The Haymakers.

The number of bitcoins is capped at 21 million. As of March 2017, there were almost 16.2 million circulating. The supply of coins grows steadily because of the way bitcoin is programmed. Each “miner” (“mining” is lingo for the discovery of new bitcoins – anyone with computer knowledge and access to blockchain software can act as a miner) introduces new coins to the supply at a rate of around 12.5 coins every ten minutes.

Mining is the process of adding transaction records to bitcoin’s public ledger of past transactions (blockchain). The blockchain confirms transactions as having taken place to the rest of the network.

Even as far back as 2013, bitcoin was worth almost as much as gold. And, at the end of 2016, the total value of bitcoins in circulation was US$14bn.

A good investment opportunity?

Investment in digital currencies, such as bitcoin, has emerged as an alternative to traditional forms of money and created a niche that’s driving major innovations in the financial sector, such as peer-to-peer lending, and digital wallets. As traders gain confidence in alternative forms of money and payment mechanisms, bitcoin is seen as a possible investment alternative.

In fact, bitcoin exhibits similar features to gold – limited global supply, maintaining value and hedging against global market volatility. Such is the exuberance in bitcoin investment that it actually outperforms the precious metal, generating an annual return of 155% compared to gold’s annual loss of 6% during the same time period.

Even though Bitcoin seems a profitable investment tool, its value can be as volatile as the value of the gold, depending on the perceived risk of owning bitcoin as a commodity. Bitcoins are encrypted for security purposes, but while the coding identifies the currency itself, it does not identify its owner. If someone hacks the miner system and gets a secret bitcoin code they will eventually become the rightful owner.

Even though Bitcoin seems a profitable investment tool, its value can be as volatile as the value of the gold, depending on the perceived risk of owning bitcoin as a commodity.

What, then, is pushing the investment value of bitcoin? One driver is increasing demand from developing countries, especially Brazil, Russia, India, China, and South Africa. These countries are experiencing economic distress and weakening currencies, making their local currencies unpredictable and volatile. As a result, it’s becoming increasingly popular to use bitcoin as a natural hedge against paper currency.

Another contributing factor to the rise of bitcoin is the possibility of a trade war between US and China. US President Donald Trump has indicated that he may impose 45% tariff on Chinese imports. This may lead to a weakening yuan, and capital outflow from China as investors will resort to more stable currencies such as euros.

The hike in bitcoin’s price during financial troubles is also a testament to its increasing attraction as a hedging tool.

When Cyprus’s economy crashed in 2013, the price of bitcoins spiked as people resorted to other forms of payment than the national currency. In 2015, when the Chinese currency was in free fall, people in the country turned to bitcoin alongside gold.

And after the Brexit vote in the UK, when global currencies and stock markets tanked, bitcoin’s value rose more than US$100 compared to the previous day. This was mainly due to some of the speculative money flowing out of the pound and yuan making its way to bitcoin.

Increased government support

Bitcoin is not just getting increased interest from tech-savvy individuals and banks such as Barclays, BBVA, Commonwealth Bank of Australia, Credit Suisse, JP Morgan, State Street, Royal Bank of Scotland and UBS. Governments are also lending support to the cryptocurrency.

The Australian government plans to reduce tax on bitcoin transactions. Current treatment of the digital currency under the goods and services tax (GST) law means that consumers are “double taxed” when using it to buy anything already subject to GST. The government plans to change this.

Meanwhile, the UK’s chief scientific adviser has said that governments should use bitcoin’s underlying technology – blockchains – to help with taxes, benefits and passports.

Taking its cue from bitcoin, the US government is planning to launch a legalized cryptocurrency called Fedcoin, which can be exchanged for a physical dollar. Bitcoin is not considered legal tender because it is not backed by any government.

What we can say with certainty is that we cannot use gold to buy bitcoin directly but bitcoin can be used to buy gold.

Bitcoin pricing is also motivating the much-anticipated establishment of the first bitcoin exchange-traded fund (ETF) in the United States. An ETF is an investment company that has no restrictions on the amount of shares it can issue.

The approval of a bitcoin ETF would make the cryptocurrency more attractive to risk-averse institutional investors as it would allow an easier way to gain access to bitcoin than buying it directly.

Such is the dominance of bitcoin that the Bank of England issued a white paper on the subject, investigating the possibility of central banks minting their own cryptocurrencies.

Bitcoin’s appeal, compared to gold, comes from two factors. First, it can be used as an easy medium for payments (for a limited but growing number of transactions), which gold cannot replicate. And with their limited supply of 21 million, bitcoins are likely to attract higher demand compared to gold.

The debate over the supremacy of gold versus bitcoin will continue. What we can say with certainty is that we cannot use gold to buy bitcoin directly but bitcoin can be used to buy gold. You can decide which you prefer.

Nafis Alam, Professor of Finance, Sunway University and Graham Kendall, Professor of Computer Science and Provost/CEO/PVC, University of Nottingham

This article was originally published on The Conversation. Read the original article.

Electronics Store RadioShack Files For Bankruptcy Again

U.S. electronics chain RadioShack Corp filed for bankruptcy on Wednesday for the second time in a little over two years, faced with a challenging retail environment and an unsatisfying partnership with wireless provider Sprint Corp.

The Chapter 11 filing comes after RadioShack, owned by General Wireless Operations Inc, tried to revitalize its business by co-branding stores with the wireless carrier in an effort to compete against their largest rivals.

General Wireless, which acquired the RadioShack brand in 2015, listed assets and liabilities in the range of $100 million to $500 million in the U.S. bankruptcy court for the Delaware district.

RadioShack will close approximately 200 stores and will evaluate options on the remaining 1,300, the company said in a statement.

Sprint will convert several hundred locations into Sprint corporate-owned stores, the wireless provider said in a separate statement.

RadioShack’s bankruptcy filing and subsequent store closings are not material to Sprint’s overall sales results, Sprint added.

RadioShack, a nearly 100-year-old chain that captured the heart of electronics enthusiasts for its specialty products such as “walkie talkies,” first filed for bankruptcy in 2015 after the rise of mobile phones caught it off-guard and customers abandoned its stores for big box competitors including Best Buy Co Inc and Amazon.com Inc.

In an attempt to keep the doors open on 1,740 stores, RadioShack struck a partnership with Sprint during its bankruptcy, inviting the mobile carrier to co-brand with the company and set up smaller stores within its own. At the time, Sprint viewed RadioShack’s retail footprint as a way to quickly scale up its own business.

But, in the years since RadioShack has emerged, both Sprint and RadioShack have been challenged.

Sprint, whose network is viewed as inferior to the country’s largest carriers, Verizon Communications Inc and AT&T Inc, has been forced to offer heavy discounts to grow its business.

RadioShack meanwhile has struggled to compete against internet behemoth Amazon.com Inc and for the attention of shoppers who increasingly wait for deep discounts before making a purchase.

The influx of cheaper copycat consumer products manufactured abroad has also hurt the business.

Still, in the years since its first bankruptcy, RadioShack has focused on expanding its private label offerings, which include drones, radios and adapters, and now makes up the majority of its business.

The shift away from selling other retailers’ products to its own has helped it reduce operating expenses and increase gross profit.

China Moves To Approve At Least 35 Trump Trademarks

SHANGHAI/WASHINGTON, March 9 (Reuters) - China has granted preliminary approval for at least 35 trademarks linked to Donald Trump, documents on China’s state trademark office show, giving the U.S. President and his family protection were they to develop the “Trump” brand in the market.

The trademarks, all variations in English and Chinese on the name “Donald Trump,” were given preliminary approval in two lists published on the Trademark Office of the State Administration for Industry and Commerce on Feb. 27 and Monday.

The approvals underline the complexities and potential concerns over conflicts of interest facing President Trump, who has a sprawling business empire from hotels to apparel using the Trump name around the world.

Trump, a wealthy real estate developer, has previously said he has handed over his business interests to a trust overseen by one of his sons and a Trump Organization executive. He can, however, revoke the trust at will and, as its sole beneficiary, remains linked to it financially.

The new trademark approvals cover such businesses as branded spas, massage parlors, golf clubs, hotels, insurance, finance and real estate companies, retail shops, restaurants, bars and bodyguard and escort services.

The 35 trademarks, which Trump’s lawyers applied for in April last year, are registered to “Donald J. Trump” and listed to the address of Trump Tower on Fifth Avenue in New York.

The Associated Press earlier reported the approvals of the trademarks, which it said also included three further trademarks not directly registered in the President’s name. These related to Scion, a hotel brand Trump’s sons want to expand in the United States. Reuters could not immediately confirm the three further approvals.

Representatives for the Trump Organization did not immediately respond to a request for comment.

Trump’s personal ties between politics and business have prompted concern from politicians and rights groups who say the President could face potential conflicts of interest related to the extensive business affairs of his family.

Democratic Senator Ben Cardin, the ranking member on the U.S. Senate Foreign Relations Committee, called for the Departments of State, Commerce and Justice to brief Congress on the Chinese trademark approvals and on “the potential constitutional dangers that they present.”

“This is an astonishing development ... It’s clear to me that officials in Beijing have come to appreciate the potential return on investments for China in having a positive, personal business relationship with the President of the United States,” Cardin said in a statement.

Cardin has previously introduced a resolution demanding Trump cut his ties with the Trump Organization or risk violating the Emoluments Clause of the Constitution, which bars public servants from accepting anything of value from foreign governments unless approved by Congress.

The preliminary approvals are open to be challenged for around a 90-day period from the date of approval. If no objections they will be formally registered in late May and early June respectively.

Trump received a single trademark approval last month in China for Trump-branded construction services, following a 10-year legal battle. (Reporting by Adam Jourdan in SHANGHAI and Eric Walsh in WASHINGTON; Editing by James Dalgleish and Lincoln Feast)

Bike Culture Is Thriving In New Orleans

The City of New Orleans is launching a new bike-sharing program this coming fall, according to the Uptown Messenger. The Brooklyn-based Social Bicycles will run the new public transportation program, which is currently set to launch in October 2017. The bike-sharing program will operate out of 70 stations located throughout the city.

The bike-sharing program partners New Orleans’ Transportation Department with Social Bicycles, a company that uses mobile and wireless technology to make renting bikes easy and accessible. The partnership is part of Mayor Landrieu’s efforts to make NOLA public and alternative transportation options more reliable and accessible.

According to an American Community Survey, New Orleans boasts the 10th highest percentage of residents who cycle to work each day. In the last decade alone, New Orleans has paved more than 100 miles of bike lanes throughout the city. Social bike tours, bike parades, and bicycle valets are now common events in city programming. With so many bike commuters, NOLA is developing its own culture around biking.

Let’s take a closer look at New Orleans’ burgeoning bike community:

Dashing Bicycles & Accessories

Dashing Bicycles & Accessories strives to foster and empower women and families to be part of NOLA’s active bicycle network. Follow Dashing Bicycles on social media to stay apprised of local bike news and events.

Marin Tockman, Owner of Dashing Bicycles & Accessories. [Photo via goinvade.com]

Gerken’s

Gerken’s on St. Claude in Bywater offers full-service bike repairs and rentals. Their friendly and knowledgeable staff can recommend great places in the city to explore on your bike.

Buzz NOLA

Buzz Nola Rentals & Tours has a large fleet of cruisers available to rent. Buzz Nola also offers bike tours which are popular among New Orleanians who enjoy connecting with fellow riders.

Bike Easy

Bike Easy, a local advocacy group for cycling enthusiasts, hosts a variety of community events which aim to make biking in New Orleans easier and safer.

This article was originally posted on Naveen Kailas’ website http://naveenkailas.com

For more New Orleans updates and news, follow Naveen Kailas on Twitter at https://twitter.com/NaveenKailas

The New Rules Of The Music Industry

As a kid growing up in the ‘90s, all I wanted was to be a rockstar, have my music played on the radio, and make killer music videos for MTV.

That’s what the music industry promised to provide the lucky artists and bands who got signed. My how things have changed.

If you’re an artist or band trying to get your music out to the world (or even make a living) then you need to play by the new rules.

Gone are the old days of the music industry where you would hope to get signed to a label and then become a star (i.e. everything would be done for you).

Today you need to view yourself (and your music) through the lens of three very important truths. I call them the new rules of the music industry, and those who play by them will succeed.

Rule #1 - You Are A Brand

No longer are you simply a musician or artist. You are a brand. Knowing this distinction is critical to gaining traction and growing your fanbase.

The word “brand” can come with a negative connotation for all the creatives and artists reading this but it doesn’t have to be that way.

Being a brand as an artist simply means that you need to learn the art of promotion and entrepreneurship. You basically have to become a business person.

Because music is still a business. Always has been. Always will be.

It’s just that in the “old days” the business was handled for you by other people. Namely your label and their team.

Someone still has to promote your music - these days that someone is you!

Rule #2 - You Are A Content Creator

The key to good promotion is to remember that we live in an age of content consumption.

Whether it’s binge watching on Netflix or reading blog after blog, people these days want to consume content and they want lots of it.

Your job as an artist is to give your fans a steady diet of content related to you and your brand.

What could this content be?

For starters, your music. This is the obvious one. Share your latest single or music video. Great.

But there is so much more you can do.

Why not share videos of you in the songwriting process? Or in the studio recording your latest album? Or snap some footage from your phone on stage?

Do live Q&As with your fans. Talk about what you do for fun OTHER than music.

Whatever it is, share something about you, your music, and your life. Your fans will love it and appreciate it.

And here’s the key - to stay relevant in today’s world you must stay top of mind. You do this by creating regular bits of content - rather than only releasing an album or EP once a year or every other year.

View yourself as a content creator and not just a musician and you’ll be in good shape.

Rule #3 - Don’t Try To Be Perfect

When I was growing up, all the bands I loved had perfect everything. Perfect-sounding albums, perfect-looking music videos, and perfect writeups in magazines.

They were always presented as polished and untouchable.

The problem with perfect though is that it holds many artists back from simply finishing new music or sharing a piece of content. This is a big no-no.

Granted we don’t want to share crap - not at all. We simply want to be authentic and real, sharing our best stuff as best as we can.

There’s a point at which your recordings as an artist will only be but so good. They won’t be perfect. Release them anyway and move on to the next project.

Ironically this is how you improve as an artist!

The age of glossy perfection is coming to an end for most artists. My generation (the millennials) prefer the raw, authentic you - so give it to them!

Will You Play By The Rules?

I still love the idea of becoming a rockstar and being able to focus purely on the art and craft of my music while other people do all the hard work of promoting me and growing my fan base.

Who doesn’t?

But the old rules don’t apply anymore. It’s a brave new world and those who play be these new rules will be the ones who build longevity and be rewarded with the chance to continue to make the music they love

Are you an artist or musician looking to make your music sound as good as the stuff you hear on the radio? Check out all the free resources here to take the quality of your recordings up a few notches!

11 Ways To Stay Motivated From People Who Refused To Quit

Being an entrepreneur is rough. Things never go as planned and take 10 times longer than intended. There are highs and lows, and many times it feels easier just to give up and throw in the towel. These 11 driven entrepreneurs, and members of The Oracles, share the No. 1 tip they use to stay motivated, persevere and achieve smashing success.

1. Find your purpose and work on it.

The secret of the most successful people I know is that they can stay motivated, activated, inspired and moving no matter what happens around them. Motivation is that inner drive to move toward or away from something. To get and stay motivated, you must find your purpose. So many people are going to work doing something they don’t believe in. You don’t get burnt out from work. You burn out because you aren’t working on your purpose. Get motivated, get on purpose, and you won’t feel like giving up.

—Grant Cardone, top sales expert who has built a $500 million real estate empire, New York Times best-selling author of Be Obsessed or Be Average, and founder of 10X Growth Con 2017; follow Grant on Facebook or YouTube

2. Don’t feel sorry for yourself—ever.

All of my best successes came on the heels of a failure, so I’ve learned to look at each belly flop as the beginning of something good. If you just hang in there, you’ll find that something is right around the corner. It’s that belief that keeps me motivated. I’ve learned not to feel sorry for myself, ever. Just five minutes of feeling sorry for yourself takes your power away and makes you unable to see the next opportunity.

—Barbara Corcoran, founder of The Corcoran Group and Shark on Shark Tank

3. Achieve your goals, no matter what’s going on around you.

I always focus my mindset on achieving my goals no matter what’s going on around me. Every savvy entrepreneur understands we solve problems for a profit. If you can’t handle getting punched in the throat by market conditions, changes in consumer behavior, teammates quitting, losing clients or working 100 hours per week, get out.

Once you’re past that, it’s easy. You create a compelling vision of what you really want. You get crystal clear on why it’s an absolute must for you. You create your personal motive to act. You create your action plan. Then you work.

—Tom Ferry, founder and CEO of Tom Ferry International, ranked the No. 1 real estate coach by the Swanepoel Power 200, and New York Times best-selling author of Life! By Design

4. Remember that it’s supposed to be hard.

Understand that if it were easy, everyone would be doing it. That keeps me going when I encounter struggles. It’s OK to fail, make mistakes and get frustrated, but it’s never OK to get discouraged. I accept my failures, learn from them and persevere with a positive attitude. But persevering with a maniacal Type-A drive is highly overrated. My first ambition is to enjoy the heck out of life. Business should never get in the way of that. If it does, then I’ve compromised my values for the sake of a buck.

—Mark Sisson, founder of Primal Blueprint, best-selling author of The New Primal Blueprint, and publisher of MarksDailyApple.com, the world’s most visited blog on paleo, primal and ancestral health

5. Stop viewing problems as accidents.

Fixing problems is part of your job as a business owner, so you should stop seeing problems as accidents to be afraid of. Problems don’t go away as you grow and make more money. They actually become bigger. Once I changed that perspective and stopped labeling problems as negative accidents, I developed a thicker skin and focused my energy on fixing them more effectively.

—Yuli Ziv, founder and CEO of Style Coalition, influencer marketing pioneer, and sole female founder immigrant who bootstrapped her business from zero to millions

6. Look to the obstacles others had to face.

In my first business, it took me three months of getting kicked in the teeth every day to land my first paying client. In my latest venture, it took nine months to get my first signed contract. I always look to the backstories of successful entrepreneurs. I study their successful actions, but I get really motivated by the massive barriers they had to overcome. There are hundreds of examples of wildly successful people who had to go through worse problems than I have. This reminds me that I can do it, too.

—Jim Mathers, CEO of North American Energy Advisory, Inc.

7. Remember your why and why not.

With little experience, I started a video production studio focused on helping businesses tell their story—in the middle of Hollywood! The competition was seemingly insurmountable. Studio producers, cable companies and directors were all taking any opportunities. But I remembered why I was doing this in the first place: to help people and to make a living as a creator. Just as motivating was the why not: I did not want to work for someone or be a person who couldn’t truly take care of himself. Today, we are regularly voted the top video and animation studio as a result of that motivation.

—Maury Rogow, CEO of Rip Media Group

8. Relentlessly focus on your mission.

Entrepreneurs are extremely passionate about their company or current project. That passion is born out of the end-result desired, which is the why or mission of what you’re doing. We believe that people will be better off with our product, solution or service than without it. For me, I want to help 1 million families avoid the experience I personally dealt with when a loved one died. I simply focus on that, and it provides massive motivation.

—Jon Braddock, founder and CEO of My Life & Wishes

9. Keep your vision clearly on the top 1 percent.

When your vision is clear, nothing can stop you from accomplishing your goal. If the feedback you receive is not as planned, then don’t waste time labeling it and allowing yourself to be distracted. Stay focused and persevere, because there is very little competition in the top 1 percent.

—Craig Lack, CEO of ENERGI and creator of Performance-Based Health Plans®

10. Take time to reset.

I believe that true motivation only comes from within and that passion is the best motivator. I love what I do, and that gets me through the days I don’t like. When things get tough, I remember that my clients chose me to be their gladiator. I take time away to meditate, train or even jump in a float tank to clear my mind and reset.

—Nafisé Nina Hodjat, founder and managing attorney of The SLS Firm

11. Realize your life is not your own.

When I reflect upon the greater purpose of my existence, it never fails to motivate me to keep moving forward. I think of my three beautiful children and my role as a living example of play, courage and commitment. I think of my wife and all the marvelous things that she dreamt of as a little girl; I think of my ambition to make that a reality. I think of my parents and brothers, what we’ve had to sacrifice and overcome as an immigrant family, and my quest to make them proud. I think of my hardworking employees, and how my business decisions directly impact their families.

—Tom Shieh, CVO of Crimcheck

Want to share your insights like those above in a future column? If you’re an experienced entrepreneur, please get in touch here.

Want to suggest a future topic for these entrepreneurs to answer? Email suggestion@theoracles.com and it’s very possible we’ll make your suggestion the focus of a future article!

If you liked this, follow The Oracles on Medium.

5 Success Strategies For Women Entrepreneurs

Here’s a fun exercise: Type “top entrepreneurs” into Google and watch which names show up on your screen. Any guesses? You probably won’t be surprised to see Mark Zuckerberg, Sergey Brin, Jeff Bezos and Larry Page atop the list. All, of course, are savvy, well-known entrepreneurs. But you have to scroll a long way down before the first women — maybe Vera Wang and Sara Blakely — appear.

Why is this?

It’s certainly not because women are in any way less smart or capable than men. But in addition to the standard challenges of growing a business, women are often faced with stereotypes, discrimination and their own self-doubts. As Salesforce’s vice president of SMB marketing, I’ve had the opportunity to work with hundreds of startups and growing businesses, plus meet hundreds of successful female entrepreneurs along the way. It’s always interesting to share our wins and failures.

So, in honor of Women’s Day, I’d like to offer some of the strategies that have worked for me and the women I’ve met.

Fail fast and often. It’s a fact of life: women are more risk-averse than men. According to the Harvard Business Review, when faced with a risky decision, men will think more about the strategic implications of a choice, while women will think more about the people affected by the outcome of the choice — which makes them less likely to take the risky decision. While it’s true that at any business you can’t just wait around for someone else to come up with the next big idea, this is especially true at small companies with limited resources and a small customer base. When you have an idea, don’t wait for permission. Run with it! If you don’t risk failing, you’ll never have the opportunity for success. It’s an oft-heard Silicon Valley mantra, but we also use it for our team at Salesforce: “Fail fast and often.”

Embrace your inner bulldog. A senior executive at our company recently told me that although he doesn’t always agree with me, he always trusts me. He said, “That’s because you’re not afraid to be a bulldog about the things you care about.” I wondered to myself, “Is that a good thing?” Ultimately, I’ve decided that it’s a good thing to have strong opinions and stick with them. My coworkers know that I’ll do whatever it takes to get the job done. Many women worry about being perceived as being too pushy or too aggressive. But the reality is that if you don’t stand up for yourself, no one else will. To be successful at a business of any size — but especially a small one with limited resources — you need to have a clear point of view and be laser-focused on getting there.

Make your own “boy’s club.” The days of doing business over a three-martini lunch and a round of golf are mostly gone, but you can still reap the benefits of being in a “club” of like-minded people. For me, this happened organically when I was invited into a program designed to help high-potential women develop the skills they needed to move up at Salesforce. As it turned out, the most important things that I got out of the program were the relationships I built with the other attendees. It wasn’t just learning that there were other women facing the same problems I face; rather, it was building a mini-community of people I can trust to give me honest advice when I need it. You don’t have to work at a big company like Salesforce to create this kind of trust circle. In fact, it may work best when your “club” includes people from other companies. Visit the SBA website to find local groups for women entrepreneurs that can give you the support you need along the way.

Make work fit your schedule. For as long as women have been in the workplace, they’ve been challenged to balance their work and home lives. Many have struggled with the myth of “having it all,” but today it’s easier than ever to be fully engaged in both. Many businesses do their work in the cloud, so you have the flexibility to access mission-critical applications from almost anywhere. And tools like Google Hangouts make it easy to keep the lines of communication open. But being totally connected doesn’t mean that you should be working 24-hours-a-day. It means that you can intermingle your work and professional lives in ways that let you hit all the important moments. I can spend the morning working at my daughter’s school, and the afternoon running a team meeting from my laptop. (And at night I can take a spin class from my Pelaton bike). This lets me focus on the activities that matter — both personally and professionally — and not just the ones that fit in my schedule.

Don’t sweat the small stuff. Most parents — especially moms — will tell you that they don’t have enough hours in their day. Many learn to be terrific jugglers, but from time to time they’ll drop the ball on something important. Not having enough time is also one of the top things that keeps small business owners up at night. It’s no wonder, because they and their employees are often stuck doing menial, repetitive tasks — like paperwork — that take them away from more strategic, customer-oriented work. New automation and artificial intelligence tools are now available that let every business — even small ones — automate repetitive tasks and work smarter than ever. Focusing on what moves the needle is also a helpful philosophy in your home life.

Try out these tips and see if they can help you be more successful, not just on Women’s Day but all year long. Please let me know how it goes, or if there are other tips that work for you.

5 Bold Steps For Aid Workers This International Women’s Day

On this, International Women’s Day, I want to give some insight into the day-to-day lives of women working in the humanitarian aid sector by sharing some of the murmurs I overhear from many women working in some of the toughest places in the world.

I prefer working with men – said more women than I can count.

I’m pregnant, they’re not going to renew my contract – said one woman about a month before her contract was, in fact, not renewed.

I don’t think I should ask for a promotion. I don’t want to seem too pushy. – said more women than I can count.

And then there are the harmful things that women say to and about each other.

She’s so bossy. She thinks she knows everything – said a woman on a team managed by another woman.

You’re so ambitious – said malignly by a female manager to a female staff.

What did you do? - asked a female supervisor to a recently assaulted female staff member, minutes after the attack.

If we don’t see these words as poison, as the vitriol choking our advancement, then we are lost. Listening to such things over the years, I’m reminded of three elements of Buddhism’s eight-fold path: right thoughts, rights words, right actions. Our actions begin with our thoughts that then turn into words that then become the manifestation of our ideas into the material world. If we keep hearing negative things about each other and thinking negative thoughts about ourselves, what will naturally follow from our actions towards women will be negative. And that is exactly what the Humanitarian Women’s Network survey shows about our status in the humanitarian aid sector: systemic discrimination, and harassment and assault of women in the humanitarian workspace. Wrong thoughts, wrong words, wrong actions.

This year’s theme for International Women’s Day is #BeBoldForChange. I challenge every woman and man reading this article to take 5 bold steps today towards right thoughts, right words, and right actions.

1. Think Positively: Start your day with a positive thought about one woman that you work with. Pick a new woman everyday. Think of one good quality about her and try to remember that she is someone’s sister, mother, daughter, and friend.

2. Stop Gossiping about each Other: Ladies, this has got to stop. Before you trash talk about that female colleague, before you speak disparagingly about a woman who you know or don’t know or heard of, stop yourself. Women gossiping about each other is one of the most dangerous forms of subversion that has us kept us from claiming our throne as the majority sex at 51% of the world’s population. Stop talking badly about one another immediately.

3. Be a Mentor or a Mentee to a Woman Today: The Humanitarian Women’s Network is setting up a roster of senior mentors in the aid industry for willing mentees. We believe that by networking women at the top with women who are just getting into the field, we can help women navigate our profession to build strong and healthy careers. To sign up as a mentor or request a mentor, contact us as womeninaidwork@gmail.com.

4. Hire Women: If HR comes back and says that the only person in the entire universe qualified to fill a particular role is a man, kindly request that they try harder in their search to bring about a more ‘diverse’ candidate pool. I strongly encourage women to start hiring more among their ranks and support one another’s career progress.

5. If You See Something, Say Something: if you hear any negative thoughts or see any negative actions towards a fellow woman, don’t let it slide. Interrupt someone saying negative things about women— even if they’re speaking negatively about themselves—and repeat after me: right thoughts, right words, right action.

These simple steps, when done at scale, will prompt serious cultural shifts in favor of women in the humanitarian aid sector― because we will be collectively embodying the change we want to see in the world. On this International Women’s Day let’s #BeBoldForChange by making the boldest change: the one within.

Be part of the movement: to learn more about the Humanitarian Women’s Network, visit www.humanitarianwomensnetwork.org. To set up your own HWN network in your area, contact us at womeninaidwork@gmail.com

Snap Shares Tumble As Short Sellers Move In

Snap Inc’s shares tumbled 11 percent on Tuesday and traders raced to position themselves to cash in on further declines after analysts gave the company a lukewarm reception following its red-hot market debut.

Snap’s $3.4 billion public listing on Thursday was the hottest technology offering in three years, but its lofty valuation and slowing user growth have raised eyebrows on Wall Street and attracted traders who expect its shares to fall.

Institutional traders were paying annualized interest rates between 20 percent and 40 percent to be among the first to short-sell the stock, according to S3 Partners, a financial analytics firm.

The owner of messaging app Snapchat is not profitable and has warned it may never be.

Much of last week’s frenetic trading in Snap has yet to settle, making it difficult for brokers to estimate how many shares are available to lend to short sellers.

But early data suggests brokers are facing a “chaotic” lending environment, with early short interest approaching $200 million, said S3 Partners Managing Director of Research Ihor Dusaniwsky.

“This is the first couple of days of shorting data to show up, so I’m sure this is going to get bigger quickly,” Dusaniwsky said.

Short-sellers borrow and then sell stocks they think will fall in value, hoping to profit by buying the stock back more cheaply later on and then returning it to its owner.

The interest rates brokers charged for Snap shares on Tuesday suggest demand is extremely high and that those borrowing the stock expect its price to fall steeply.

By comparison, brokers lend out shares of Facebook Inc at an annualized rate of less than 1 percent, reflecting an ample supply available for lending and low demand from short sellers, according to data from Astec Analytics.

In its market debut Snap surged 44 percent from its $17 initial public offering price to close at $24.48. Since then it has fallen 22 percent.

At mid-day on Tuesday Snap was down 10.8 percent at $21.20.

Snap has been heavily traded since its market debut, rolling over the number of shares sold in the IPO more than twice.

Options trading in Snap is expected to start on Friday, once regulatory requirements are met.

At about $27 billion, Snap’s market capitalization remains a little larger than Kellogg Co and slightly smaller than HP Inc.

So far, no analysts have initiated the stock with a “buy” rating.

Of six analysts who have launched coverage of Snap, four recommend selling and two have neutral ratings, according to Thomson Reuters data.

Globally, shares of most of the 25 largest tech IPOs have languished in their first year on the public market, with 16 notching a hefty decline from their debut day closing price, according to a Reuters analysis of market performance.

(Additional reporting by Narottam Medhora in Bengaluru; Editing by Meredith Mazzilli)

How To Fight The Coming Wave of Credit Card Junk Fees

When William Livingstone booked a recent airline ticket from Warsaw to Madrid, he found something unusual on his bill: a $15 "credit card fee" with no explanation. It appeared his credit card was just helping itself to some of his money because it could.

Why? Perhaps it was a currency exchange fee, the result of converting dollars into zlotys. Then again, it just could be a money grab by his airline. Hard to say.

Livingstone, who runs a business in Helena, Mont., is one of many bewildered credit card customers who have encountered mysterious fees on their statements. These fees should have quietly vanished after passage of the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009, a law that clamped down on nuisance fees. But with a new, pro-business administration in power, industry watchers expect a surge in junk fees as the shackles of federal regulation are carelessly unlocked.

Livingstone, who believes he was overcharged for his airline tickets, tried to find the reason behind the fees and other charges, and contacted me for help. "This is fraud," he said.

Yes, it sure feels that way. And it's happening on such a breathtaking scale that makes it so much worse. It's institutionalized, sanctioned fraud that represents a colossal regulatory failure. If you don't want to become the victim of a junk fee, there's really only one person who can help: you.

Fees are still here

"Credit card companies are masters at making money," says Jake Serfas, a lead financial strategist at O’Dell, Winkfield, Roseman and Shipp, a Washington, D.C., retirement planning firm. "They convince the public that everything they want is only a swipe away. But what is that swipe really costing the consumers?"

A lot. More credit card companies are charging a range of fees for everything from card replacements, reward redemption, foreign currency conversion, over the limit, duplicate statement, balance transfer and account closure. Many of these are "junk" fees, meaning they effectively cost the company nothing to provide and are almost pure profit -- in other words, they charge them simply because they can.

"Most of these are small, ranging from $1 to $12 per fee," explains Serfas. "And although it may not seem like a lot to a consumer, spread out over millions of credit card users and they are making hundreds of millions of dollars in small charges."

Why isn't the government doing more? Well, the CARD Act, which was designed to protect consumers from hidden and unreasonable fees, eliminated some charges. But hidden fees remain a key revenue source for credit card companies and for merchants.

"Hidden fees are still part of the business," says Roseman.

They charge for that?

What to look for? Actually, it's more a question of what not to look for. If you're not reading your credit card statement at least once a month, chances are you're missing something.

Here are just three particularly egregious examples:

The reordered transaction trick. If you have overdraft protection on your account, watch for this little trick: Your bank will reorder your transactions throughout a day to maximize the number of times that you pay overdraft fees. "Consider this example," says Nick Clements, who runs a site called MagnifyMoney that publishes transparency scores for financial institutions. "You start the day with $50 in your account. You then make three withdrawals throughout the day, the first at 10 a.m. for $20, the second at 1 p.m. for $20 and the third at 7 p.m. for $40. In this particular scenario, you should have only overdrawn on your account at the third transaction, right? The trick happens when your bank reorders your withdrawals so that the $40 happens first, then a $20 and then the final $20. In this case you would have actually overdrawn twice." Legal? Yes. Unfair? Without a doubt.

The balance transfer fee. Say you’re carrying a balance and want to transfer the amount to another card with a lower interest rate. Watch out! Your card may charge a "balance transfer fee" of 3% or $5 -- whichever is higher -- to do it. "It's in the small print," says Adam Jusko, the CEO of the credit card website Credit Card Catalog. This is particularly nefarious because it's often part of a "Zero percent" initial rate. "The card issuer is essentially using the balance transfer offer as a marketing ploy to lure customers away from competitors, but instead of just taking it as a marketing cost, they can’t curb their natural tendency to squeeze a buck out wherever they can," he says. The card company makes money on both ends of the deal.

Cash advance fees. “You’re in enough of a pinch that you’re turning to your credit card company for a cash loan," says Kerri Moriarty, the head of development for Cinch Financial, an optimization service for personal finances. "Now you’re not only subject to a much higher interest rate – nearly 5 percent higher than your regular purchase rate – but also a fee in the form of 4 percent of the advance amount,” She advises exhausting all other possible options first, like withdrawing from a retirement account or using a home equity line of credit or even just asking a family member or friend for a short-term loan, all of which will cost you less in the long run.

Of course, this is just a small cross section of possible credit card fees. Banks, credit card companies and merchants are creative. Just when you think you've seen it all, along comes another surprise fee.

How to avoid them

Experts say you can escape from these fees with three proven strategies: behavior modification, early detection and resistance. First, know what kinds of activities can trigger a junk fee. Those include large charges, transfers, late payments and making purchases in a foreign country. Avoid doing those things, and if you can't, at least ask your credit card company how much it will cost and request a waiver, if possible.

Next, monitor your credit card statement very carefully. If you see anything that appears out of place, notify your bank or merchant immediately.

The final strategy is resistance: fight the fees. Banks know these are junk fees and are likely to roll over when you challenge them. "You could also use some leverage and threaten to cancel a card and switch to another credit company for reduced charges," adds Serfas, the financial strategist. "This could even be a great time to ask for a lower interest rate."

Don't be too quick to pin a junk fee on a bank, though. As Livingstone found out, his $15 fee was added by Ryanair, the discount airline he'd booked his tickets through. It charges a flat two percent fee on all credit card transactions.

Why? Why not?

One thing seems clear: These junk fees are poised to expand in the current laissez-faire regulatory environment. The only person who can save you is the one staring at you in the mirror.

Yes, gorgeous. I'm looking at you.

Christopher Elliott specializes in solving seemingly unsolvable consumer problems. Contact him with your questions on his advocacy website. You can also follow him on Twitter, Facebook and Google or sign up for his newsletter.

Military Spouse-Owned Businesses Face Their Biggest Obstacle: The Military

This article was written by a coalition of military spouse small business owners. Visit www.musterup.co to sign our petition and join a growing number of voices in support of positive, real-world change for military spouse entrepreneurs.

Since 9/11, a new generation of military spouses has emerged; women and men married to service members who want to maintain a career or business as they follow their spouse where the military demands. The military lifestyle requires out-of-the-box thinking to create a transportable career and, with creativity and grit, many spouses have turned to entrepreneurship to create their own financial and personal future while their service member spouse advances in their own career.

The one thing that continues to stand in the way of military spouses achieving their entrepreneurial goal, a goal that would benefit the military itself in retention of service members and their families is, surprisingly, the military itself.

The issue

There are no military-wide approval processes or guidelines for operating a home-based business on post. Yet, these businesses are required by the military to register with the installation. Because of this, decisions are made on an installation-to-installation basis.

Military spouses who live on post are told again and again to wait long periods of time for approval to operate a business out of their quarters and, for many, the approval never comes. In the meantime, military spouses are told to cease operation of their thriving and successful, income-earning businesses until they receive approval. No successful business model supports a cycle of 4 to 6 week closures every 2 to 3 years.

What types of businesses are we talking about? The very types of businesses military spouses are being encouraged by the Department of Defense to pursue due to their mobility. Freelance, consulting, remote/telework, food service, multi-level marketing, and start ups are just a few examples. Military spouse entrepreneurs are on the rise. Many of these spouses function as 1099 contractors, full time remote employees, legal consultants, software developers, LLC or C Corp owners, and many maintain contracts and/or a consistent, high income client base.

The lengthy wait time and subsequent denied requests destroy businesses carefully grown by military spouses who have already sacrificed many of their own career goals and income making opportunities in the wake of the challenges of military life. And, to add insult to injury, these same spouses are being told by military-affiliated organizations and government endorsed non-profits that serve military families to strive for gainful employment, yet the policies in place remain one of the biggest obstacles for military spouse business owners.

The current reality

The process for establishing a home based businesses from post to post is not standardized. Spouses must get approval each time they move. The final decision comes down to the garrison commander who the applicant may never get to meet.

It is important to note that although most military housing is privatized, it is often not the private housing companies that are denying approval of operation of home based businesses. The approvals from the private housing companies are often fast with positive results for the military spouse. It is the military’s process that is difficult and often has a negative outcome.

Having navigated for weeks through piles of paperwork and approvals and inspections, imagine hearing the news that your business has not been approved to operate? In the meantime, you have not pursued other employment options taking months off of a timeline of less than two years of being stationed at that location.

The kicker: many spouse owned businesses are being told “no” because they are said to compete with AAFES, the stores operated on post by the DoD. While the explanations are long, including the traditional “AAFES funds MWR programs and we don’t want to take away from those funds,” it boils down to the DoD denying competition for the stores they operate.

This is in direct conflict with the free market system of the United States that is such a large part of our country’s ethos. There seems to be a failure to recognize that more financially stable families spend more at AAFES. And spouses who are gainfully self-employed tend not to move to find employment elsewhere, thus spending more money on post and volunteering within the community.

A brighter future

Failing to fix this problem impacts the quality of life for military families and retention of active duty members. We realize is always easier to say “no” than “yes,” especially in a highly-regulated environment, and especially when something hasn’t been done before but:

The solutions for this problem are simple ones. Let’s start with the Army:

Establish an Army-wide approval process for home-based businesses that has a shorter timeline, is easy to navigate, has fewer touches by government on-post agencies.
Establish an Army-wide CONUS list of home based businesses that do not require approval through the local command structure for operation in housing.
Establish an Army-wide CONUS list of home based businesses that require approval for operating in housing.
Establish an Army-wide CONUS list of home based businesses that are prohibited from operating on post.

INCLUDE military spouse stakeholders in the discussion and creation of these above lists.

Get national acceptance from AAFES with an agreement that home based businesses do not compete with AAFES to avoid “do not recommend” decisions, since these denials have consistently come from AAFES during the approval process and have ultimately hindered approval.
Once a business has been approved on one installation, do not require approval at subsequent installations unless home inspections are required or there are state specific issues.
Establish an Army-wide business review process that requires approval within a two-week (maximum) timeframe. Consider ways this approval process can be initiated prior to arrival on post to expedite the timeline for businesses that do not require a home inspection.
Maintain metrics for the home-based business approval process to track the timeline for approval. This is a family quality of life issue that impacts the financial readiness of military families. If someone is not held accountable for the process, as in the past, there will fail to be any real change.

Many organizations, including the Department of Defense, have recognized through studies and reports that military spouses are underemployed. This impacts quality of life and adds to financial concerns, which in turn impacts the retention of service members. Let’s solve this problem. NO more studies. NO more reports. NO more reasons to avoid putting forward solid, actionable solutions that can only be hindered by unnecessary over-complication of this issue.

Military spouse entrepreneurs are thriving and paving a new path for successful military family life. Please stop standing in their way of making military families stronger.

NBCUniversal Invested $500 Million In Snap Inc As Part Of IPO

Comcast Corp’s (CMCSA.O) NBCUniversal said on Friday it had invested $500 million in Snap Inc (SNAP.N) as it continues to spend heavily on digital media companies.

Snap’s shares jumped 8.6 percent to $26.59 in early trading. The company finished its first day of trading with a 44 percent gain compared to its IPO price of $17.00.

The investment was made as a part of the Snapchat owner’s initial public offering, NBCUniversal Chief Executive Steve Burke said in a memo to employees.

Earlier, CNBC reported that Snap’s stock allocation to NBCUniversal seems to be the only one made to a new strategic investor, making NBCUniversal the lone U.S. media company with a stake.

Comcast has invested heavily in digital-native companies such as BuzzFeed and Vox Media, partly in an effort to better service existing advertisers.

“With the Snap investment, we have invested over $1.5 billion in promising digital businesses in the last eighteen months,” Burke said in the memo.

NBCUniversal has already launched entertainment programs such as The Voice, SNL and E! News’ The Rundown on Snapchat. The media company said it expects to launch more Snapchat shows in the coming weeks.

NBCUniversal has agreed to hold Snap’s shares for at least a year, according to the CNBC report.

Snap disclosed last month that it expected investors buying up to a quarter of its shares in the company’s $3.4 billion initial public offering to agree not to sell them for a year.

Lock-up periods help companies moderate stock volatility by preventing company insiders from selling their shares within an allotted time.

NBCUniversal courted Snap co-founder Evan Spiegel for the past year, CNBC said, and both companies have been working on deepening their relationship.

Snap declined to comment beyond details noted in its prospectus and other U.S. Securities and Exchange Commission filings.

Comcast’s shares were marginally lower.

(Reporting by Narottam Medhora in Bengaluru; Additional reporting by Anya George Tharakan; Editing by Maju Samuel)