Is Mixing Business And Friendship A Good Idea?
Make sure your friendship is strong enough to take the ups and downs that come with working a business.
It’s great to have a trusted friend around when you start a business, but there may come a time when you will have to decide how to balance your friendship and your business with what you want to accomplish. Going into business with a friend may be a great way to get a business moving quickly, and you and your friend may make a great team, but there may be points of contention.
Before you decide to go into business with a friend, ask yourself how important their friendship is to you. Many friendships are lost due to business dealings. This doesn't’t mean that bad things happen every time friends join forces to start a business, but it happens more often than you might think.
Conventional wisdom suggests that the best people to partner with when starting a business are those you know and trust. This is true to a certain degree, but there are pitfalls. What happens if things don’t go well? Are you prepared for the loss of a friend due to rigors of running a business?
If money is lost or the business goes bankrupt, will all parties come to terms with it or is this where anger and the blame game come into play? Believe it or not, you may be the one who can’t get around the fact that your expectations weren't’t met. On the other hand, it may be you who gets blamed for failure. In either case, blaming one another may turn your friendship sour, or even worse, you may end up in court.
You may think you know your friend, but when it comes to business and money, you may not know them as well as you think you do. Money can become a game changer very quickly in any relationship, business or otherwise, and it can........
"Dreaming dreams and having visions is fine, but in order to make them a reality, goals must be set. When setting goals, there must be specific guidelines to follow in order to track your progress. By following these guidelines, you will increase your chances of success."
Save Your Savings
You can save money by saving the money you save!
No matter how wealthy you are or how great a job you have, it is always a good idea to put some money away. There is always the possibility of something happening that might cause you to need additional money.
There are many ways to save money and the more you save, the greater the likelihood of having good financial health. You can save by buying things on sale, getting discounts, clipping coupons, catching buy one get one free promotions, and on occasion, you can walk away with products that are free if you catch the right sale at the right time.
Saving money on the things you buy is great, but what do you do with the money you save? When you save money on a purchase, do you save the money you've saved or do you spend it on other things.
A good way to build a strong savings account is to take any money you save on anything, and save it. In other words, save your savings. If you don't need another car, big screen television, room addition, swimming pool, or other big ticket item, don't create another large long term bill. Over time, you will have saved a........
The Investor's Paradox
The Power Of Simplicity In A World of Overwhelming Choice
Investors are in a jam. A troubled global economy, volatile markets, and a bewildering array of choices create a dangerous landscape for individual and institutional investors alike. To meet this challenge, most of us rely on professionals to take risk on our behalf.
Here, accomplished analyst and investor Brian Portnoy delivers a powerful framework for choosing the right money managers and investment vehicles--and avoiding the losers.
Portnoy reveals that the right answers are found by confronting our own subconscious biases and quirks. A paradox we all face is the natural desire for more choice in our lives, yet the more we have, the less satisfied we become--whether we're at the grocery store, choosing doctors, or flipping through hundreds of TV channels.
So, too, with investing, where there are literally tens of thousands of funds from which to choose. We crave abundant options with which to face down volatile markets, yet the more flexibility we have, the more........