According to Richard Branson, entrepreneurs and small business owners have the privilege and responsibility to pull America out of this recession. There are many companies that are not financially strapped, have access to credit lines, and have the ability to use effective, intelligent marketing in any condition.
As Richard Branson said during an interview with Seth Godin, entrepreneurs know how to build new businesses and create money. How many opportunities do you see every day to profit in this economy?
By taking action in order to improve, expand or start your small business, you can contribute to saving America and potentially make a fortune while doing it.
Rep. Jesse Jackson Jr. & Governor Rod Blagojevich clearly need a few tips on getting the best bang for your buck.
As we know, there are many creative ways to make money. You can invest in stocks, invest in real estate or start your own business. The list goes on. But in Illinois our politicians consider these concepts so outdated. They like to pride themselves for “thinking outside of the box.” Unfortunately that creativity generally leaves the truly creative within a box of another kind — a cold cell block. They’re creative, just not too smart.
So yesterday was just another winter day in the Windy City. as our very own Governor Rod Blagojevich was led away by FBI agents from his home for corruption charges. While I try to avoid politics as much as possible and keep the discussions on the numerous ways to create wealth, I just can’t resist commenting on his creative thoughts on how to become a millionaire.
Living just two blocks away from the Chicago Blagojevic home, I’ve always wondered what goes on inside that house every day — now due to the convenient surveillance tapes I no longer have to wonder.
Today, our esteemed Governor Blagojevich is “upbeat” and back to work just one day after his arrest. And you thought going to work after embarrassing behavior at an office Christmas party was uncomfortable. Lucky for him he has company in the FBI’s attention today. Our ever honorable Rep. Jesse Jackson Jr. confirmed that he is indeed Senate Candidate 5 — the individual Blagojevich was caught talking to on the FBI surveillance tapes about his willingness to pay money in exchange for Obama’s vacant Senate seat and $1 million in campaign contributions. Whoops.
So the FBI seems to be getting the best deal — 2 for the price of 1. And who can say that anyone is truly shocked? What would a political decision in Illinois be without handshakes full of money? What surprises most Illinois residents is not that Blagojevich was arrested. Everyone knows when you sign up for a political position in Illinois that corruption and eventual imprisonment is a job requirement. The shock value of this story is that the man was making deals when he knew his conversations were being monitored for another investigation he is currently under. We blame him not for his corruption but for his stupidity. We can tolerate the criminal politicians who run our state and city, just not the inept.
So it’s clear that Blagojevich is obviously just not cut out for the job. If you haven’t mastered the Illinois way of “pay to play,” you don’t deserve to serve… yourself that is.
I wish I could credit the person who stated after Obama’s election win that, “Maybe now Illionis will be recognized for someone other than Al Capone.” Well, they got their wish. Although I imagine they are now wishing that the glory days of Capone’s corruption and swindling as a means to get the job done (St. Valentine’s Day Massacre) was back in Chicago visitor’s minds — at least Capone tourism pays. And you know how Illinois folks like to make a buck.
It’s not all bad news for Governor Blagojevich. Luckily he won’t have to decorate his cell all by himself. Illinois has a wonderful tradition of mentor/mentee partnering in the state prisons. He will be warmly greeted by his predecessor, former Illinois Governor George Ryan, who is getting the top bunk ready.
I’m sure they’ll have plenty to share. Maybe they can work together on Blagojevich’s presidential bid for the 2016 presidential race that he plans to run for. I’m sure the next Illinois Governor will have begged the President to pardon him by then — another fine Illinois tradition.
And poor Jess Jackson Jr. He was so close to being able to buy himself the Christmas present that he always wanted. Apparently he didn’t read the memo on proper instructions for how to “pay to play.” Amateur.
U.S. economists are no longer denying that we are in a recession and facing the worst economic times since the Great Depression. It was frightening to hear President Elect Barack Obama on Meet the Press talk about how bad things are. Unfortunately, he gave no indication that things would get better. In fact, he mentioned a number of times that, “Things are going to get worse before they get better.”
Those are tough words to swallow when we are already facing the worst employment numbers in a long time. The Washington Post’s headline on Saturday read, “Monthly loss of jobs worst in 34 years.”
Over 500,000 jobs were lost just last month, and things are going to get worse?
If things are not getting better any time soon, it’s not a bad idea to prepare for the worst. The reality is that your safe, secure job today may not exist tomorrow. So what can you do to avoid your own personal recession?
Make Yourself Valuable: If you are an employee, it is absolutely necessary to make yourself an asset to your company. By either finding ways to save money or bring in more revenue, you can make yourself stand out from your peers. During times of downsizing, very tough decisions are made and sometimes the difference between you and someone else losing their job virtually comes down to a coin toss. Be sure you’re giving yourself an edge by increasing your company’s bottom line.
Build Up Your Cash Reserve: Now is not the time to reduce your 401k contributions, but it is a good time to cut back on discretionary spending. Put money aside that you would normally spend on entertainment, for example, to be prepared for worst case scenarios. If all else fails, then you still have your 401k to borrow against if absolutely necessary.
Diversify Your Income: Whether you are an entrepreneur or not, now is a good time to bring in additional revenue streams. If you have a business, you’re probably feeling the slowdown. Think about other markets you can tap into or where you can expand services. If you don’t have your own company, start thinking about how you can monetize your free time. It’s easy to start your own business from home by creating signs for local businesses or producing an income online. With some creativity and effort, you can easily bring in a few hundred dollars a month, which can go a long way.
During the Great Depression and other tough economic times throughout history, some people became incredibly wealthy. They were able to achieve this by being prepared and taking advantage of opportunities that no one else could.
Just because the over all economic environment is not positive doesn’t mean it has to affect you. Protect yourself, provide value, and produce your own income and you’ll be able to sleep soundly at night as things continue to worsen.
As we know, there are many creative ways to make money. You can invest in stocks, invest in real estate or start your own business. The list goes on. But in Illinois our politicians consider these concepts so outdated. They like to pride themselves for “thinking outside of the box.” Unfortunately that creativity generally leaves the truly creative within a box of another kind — a cold cell block. They’re creative, just not too smart.
