Is your business lean and ready for what’s next?

Is your business lean yet and ready for a potential recession? Many business owners are still in denial about the possibility of another downturn. However, it’s essential to be prepared for anything that could happen. This blog post will discuss what it means to have a lean business and how you can prepare your business for a potential recession.

Many analysts have said it may not be long until the next recession. In July 2020, the National Bureau of Economic Research (NBER) announced that the U.S. economy had officially entered a recession. This was the first time since February 2009 that the NBER had declared a recession.

Many indicators can signal a potential recession, such as high unemployment coming soon; others say we are looking at 2023. However, if you look at the employment levels, those unemployed only account for about 3.5 percent

What is a recession? A recession is a significant decline in economic activity spread across the economy, lasting more than a few months. Recessions typically involve gross domestic product (GDP) declines, employment, and business investment.

So, what does it mean to have a lean business? A lean company has low overhead costs and can operate with a more skeletal staff. This type of business is often more agile and can adapt quickly to changing markets and economic conditions.

So, how do you know if your business is ready for a recession? Here are a few things to consider:

-Do you have a diversified customer base?

-Is your business model flexible and able to adapt to changing conditions?

-Do you have a leaner overhead structure?

-Are you prepared financially for a downturn in business activity?

If you answered yes to these questions, your business is likely in a good position to weather a recession. However, if you answered no to any of these questions, you may want to consider making changes to your business model.

The good news is that many resources are available to help businesses during this time. The Small Business Administration (SBA) is a great place to start if you need assistance. They offer a variety of programs and services designed to help small businesses during times of economic hardship.

So, if you’re wondering if your business is ready for a recession, the answer is it depends. But if you take the time to assess your business and make some changes where needed, you can increase your chances of weathering any storm that comes your way.

Guess who is back, back again

The Slap heard around the world and other things

Photo Credit: Getty Images

Just in case you didn’t see it, here is right after the incident.

Yes, that is right, I’m back after a forced break by life getting in my way. The best part is I’m a lot stronger than I was, and my focus is back where it should be. A lot has gone on since I last updated you all on what’s going on. I will check in on that and current events in the real world.

Will Smith and the slap was heard around the world (Except in the USA, where it was cut out)

It all starts with comedian Chris Rock making a G.I. Jane joke at the expense of Smith’s wife, Jada Pickett Smith. It needs to be noted upfront that Jada has Alopecia’s hair loss condition. As a result of this, according to reports, she decided to shave her head. It’s a personal choice, and it should be respected; plus, I think she pulls off the look.

Now to discuss the elephant in the room, Chris Rock’s Joke. On a human level, did he cross the line? Yes. However, from a public relations perspective, the fact that Jada Pickett Smith shared her issue with hair loss. The results from that are on her. She and her husband are public figures, so anything they do or anyone else in the public eye is fair game.

The problem was made worse by Will Smith; going up on stage and slapping the “s@%t” out of Chris Rock (in his own words) caused the problem worse. We are two days out from the Oscars, and people are still talking about it, telling us where the priorities are for those in our country. This incident wiped the Ukraine/Russia war off the front page of every newspaper in the world, and then, to top this off, the slap overshadowed Smith’s Oscar win. The optics of the situation looks dire for Smith, no matter how you look at this. The biggest reason he’s apologizing is he and his people know he is going to lose endorsements and potential movie contracts.

Breaking News: 6:23 pm EST on March 30, 2022
According to CNN and the AP, The Academy’s Board of Governors says Will Smith was asked to leave the Oscars and “refused” and says it has opened disciplinary proceedings against him.

Speaking of the Ukraine/Russia war, It’s was the worlds leading headline for four almost five weeks. Things happening in this unprovoked and bring back memories of World War II. Many are comparing to the idea that this may be the start of World War III. Since there are similarities, from a historical aspect, this as an event can’t be ignored. We, as a nation, need to remember our history as we all know it repeats itself. I know that Ukraine is not a NATO nation, but it comes down to a fundamental human rights issue. Is Russia wrong? Yes, Is Russia losing this war yes. The next question comes down to the idea is what is the Russian Federation going to do next? I wish I had the answer to that question, but I know what I will do to protect my family and business.

Lastly, a minor update on me, Many things in my life are starting to settle down. However, I learned something more about myself that I had a feeling on, but was never too sure of till last December. I found out that I have a disability, one that I was expecting, but it didn’t sink in till I saw it on paper. I have finally come to terms with it and, for the most part, am starting to understand it. It’s not going to change things, but I can now explain why things were the way they happened in the past, and now I can look toward the future.

Thanks again for stopping by to read my blog or listen to us on Anchor. FM.

What does it take for a business to recover from the current pandemic?

Photo by Pixabay on Pexels.com

I started thinking recently about how businesses will recover from the financial hardships caused by the current pandemic. The first thing I came up with was that some companies wouldn’t be able to recover. It could be for several reasons like financial, personal, and environmental. These particular businesses in question will have to face the fact that they have worked very hard at the building may not work in the post-covid economy.

The nasty word coined during covid was the word “pivot.” It may be repeated several times during the pandemic, even though the word did well when tried to subside. However, as much as I had to say the word, it’s spot on regarding what you need to do to stay in business. My thought is you need to be more agile or flexible. You must be able to change on a dime. Because if you don’t, you will not be in business for yourself anymore. Many companies I’ve seen have had to cut staff, get loans from the Federal Government. I know many companies have taken their beatings and cut very hard (I’m one of those businesses).

The biggest thing that the whole pandemic has taught me is that we need to be leaner as companies. For example, many companies are ditching office space and retail spots, co-working situations, or just working at home. Before the pandemic started, I would look at co-working office space to help me expand; then Covid hit, so I pulled back from the idea; many companies also cut marketing-related services, where companies go entirely wrong. I just went in another direction to keep my business alive.

Many business owners believe that marketing-related services are fat you can allegedly cut from a company budget. It is so not the case. It would help if you found other cuts in your business, which could include cutting independent contractor hours or eliminate positions. It would be considered unpopular and may optically look very negative. The one thing most businesses owners need to remember when it comes to their businesses is to keep the emotions. You MUST look at the bottom line.

These are just one of many things I’ve thought about over the last 19 months. My business is starting to look up again, and we are about to create a new chapter. So follow along with us here on our site or via our social media platforms to keep informed of our comings and goings.

Side Hustle — Considering publishing a book

If you want to make a little extra cash on the side, consider writing and selling your book. It can be about anything – from general topics like entrepreneurship to niche markets such as pet care. Even if it’s just a few pages long, people will buy it because they’re looking for quick reads that don’t cost much money. All you need is a computer with internet access and an idea! For starters, it can be a lot of work.

How does one get started? You can write your book for free using a word processing program on the computer. Once you have enough content, pay someone to format it to be ready to publish online or in print. It doesn’t cost much money, and there are plenty of freelancers who will do this job cheaply compared to what they charge for a full-time job. You can even find people on freelancing sites who will do it for free in exchange for the exposure that your book gets when you publish it under their name. There are many benefits of having a published book – including being seen as an expert and authority figure while making money off every sale!

If you want to keep things on the inexpensive side, have it be a DIY book. You don’t need an editor, but you will pay someone for a good cover design. There are many benefits of having a published book – including being seen as an expert and authority figure while making money off every sale. This way, it creates a potential stream of income for you. With a bit of effort, you can promote the book with the right help or using social media to promote the book. That alone takes little effort to do; We can show you how to do it.

For example, if you self-publish a book about your adventures as a travel blogger and sell it on Amazon for $0.99, you can make up to 70% of the profits! That means every time someone reads your 25-page Kindle e-book, that’s potential $0.25 in your pocket (minus delivery fees). It doesn’t get much better than that!

This is just one way you can earn money with self-published books – there are many more ways out there waiting for people like us who want an easier way to make some quick cash without too much effort or hassle involved.

Now that you know the ins and outs of self-publishing books for profit, it’s time to get started! You can begin by taking some notes on what your book is about. What are the key points? Who do you want reading this type of content? How will they benefit from reading it? Once you have some ideas down, please look at our list of top places to publish your work–we’ve got them all right here in one place. From Amazon Kindle e-books to Udemy courses, there are many different ways to make money with self-published material these days. Have fun exploring, and we’ll see you out there!

We get this question all the time

Since the pandemic started last year, as many of you are aware, people were losing jobs. As a result of this, auctions houses and businesses like mine got very busy with the million-dollar question, “What is this worth.”

For us as a company, We get that question asked all the time. However, people specifically come to us with baseball cards. During the pandemic, sports cards, in general, did see an off-the-chart demand as people were looking for something to do it. With all of that said, it created another wave of flippers in it to make a quick buck and get out. Once many of those people made their money. However, the cards they didn’t want or just the common cards were taken to local card shops or other places where you can sell stuff.

The problem is that most sports cards are extremely overproduced, which in turn drives down the value of the lot of cards that you are looking to sell as a whole. Most dealers, including myself, will not buy large lots like that unless it comes with a beautiful price tag.

As a result of the Pandemic, as of July 1, 2021, we made the executive decision to stop accepting consignment offerings.

Here is our reason why:

Market value is determined by demand and rarity as well as the economy. Also, a sentiment often affects the value potential a consignor attributes to their item. More than one person will have to want to buy your item to drive the price up. 

People seem to think that they can get what they paid for it or more and potentially profit. This isn’t always the case. This results in a lot of misunderstanding and having to educate on what an item and really gets. Not what they say it may be worth.

To keep in mind, you have to look at all of the available platforms out there to figure out where an item has the best chance of selling.