Tweet

Finding a Fresh Path for the New Year

Guest post by: James Dicks

Article Overview: James Dicks reexamines what is important in light of the holidays and this past year's recession.

Finding a Fresh Path for the New Year

The past year has been very rough on traditional investors; investments have blown up in the faces of people who had been religiously putting funds in 401(k) plans and IRAs and chances are their home values have crumbled around them as well. Thousands more got caught in a layoff and are now forced to use what is left of their savings to simply survive, while thousands more have lost their homes to foreclosure. It was the kind of year that people will talk about for the rest of their lives; just like Grandpa used to talk about the Great Depression of the 1930s.

Many businesses have collapsed under the stress of this fragile economy; some are still alive but running on the fumes of what they were able to scrape together soon after the recession hit them. Like I said, it's been a tough year but it is not impossible to overcome. Now it's time to rebuild our personal and professional lives.

As we enter the holiday season, I see the effects of this economic downturn hit yet again. Corporate CEOs and HR managers have had to do what was in the best interest of their companies - normally that means trimming the employee roster - at least for the time being. We've all had to determine where costs can be cut to generate needed cash flow so American companies can stay "open for business" and start to mend our damaged economy.

The same goes for families across the U.S. trying to find their "new" paths to personal financial freedom. Many of you were doing everything correctly and thought you had it made, only to discover that traditional methods of investing just didn't work anymore and established family traditions had to be cut or done away with all together.

I've heard more and more people say that this year's holiday season will be different - this year there won't be as many presents given to as many people as there have in the past. Charitable organizations are already feeling the pinch because there are fewer donations coming in this year than in previous years. For many charities, the recession has delivered a double blow. There have been sharp drops in donations tied to increasing demand for their services in these difficult economic times.

Maybe it's time for us all to start cutting back and simplify our lives. Perhaps we all should cut back a bit and use the extra time and money to get closer to our family and friends. Read more to your kids and grandchildren, and get interested in what your spouse is working on in the kitchen or out in the garage. Invite your friends over to play a board game - these are all things that will allow us to reconnect with people; something that is probably long overdue.

Like "Grandpa's Great Depression," we must now find new ways of doing things; changing our lives is not an option anymore. Prior to 2009, Americans were not savers - today more and more of us are starting to put money away for that proverbial "rainy day." American business now understands that their consumer base has changed their spending habits and has had to get creative to keep things moving forward. This is all positive. These are all things that we should have been doing all along. Maybe if we had done so, the economic situation would not have hit us all so hard.

So this year, instead of indulging ourselves in a rich holiday season, maybe we should focus on what we have remaining in our lives. We need to center on giving thanks for the food and the time we can share with our family and friends, and celebrate the things that we believe in; commemorate the holiday traditions that make our lives meaningful. And one more thing, don't forget to spend a little quiet time with yourself this holiday season, reflecting on the past year and looking toward the future with optimism.

Happy holidays,

James Dicks

Related Articles
  How to Modify the Path Variable in Linux/Unix
  LEADERS TRAVEL ON THE PATH OF MAKING PATH.
  LEADERS TRAVEL ON THE PATH TO BECOME THE PATH.
  Using the "F" Word at Work
  How Do I Know I am On the Right Path

Article Tags: credit cards, depression, economy, education, expenses, holiday, investing, james dicks, job, leadership, money, personal finance



Related Forum Posts
Re: Hello, I'm brand new - Hi Fresh! Welcome to this forum - you will find some very helpful and friendly people here. Ros
How to valuate a business - Hi Garth - here is how we did it at Northern Crown Capital when I was helping them raise venture capital for Toronto-based entrepreneurs. Assume the start date is 2003 so 2008 projections are 5 years out: How Northern Crown Capital Valuates a Business 2008 Financial Projections Earnings Before Tax $5,865,000 Tax Rate 42% Taxes $2,463,300 Net Earnings $3,401,700 Amount Seeking to Raise Today $3,500,000 Discounted Value of Future Opportunity, 5 Years Out 2008 P/E Ratio 15 Value of Company in 2008 $51,025,500 Discount Rate Applied 30% Year 2008 $51,025,500 Year 2007 $35,717,850 Year 2006 $25,002,495 Year 2005 $17,501,747 Year 2004 $12,251,223 Value of Company at Investment in 2003 $12,251,223 Less: Investment Amount $3,500,000 Present Value $8,751,223 Discount for Risk & Private Company 40% Less: Discount for Risk & Private Company $3,500,489 Private Company Value $5,250,734 Present Value (What the Owner Keeps) $5,250,734 60.00% Financing (What the Investor Gets) $3,500,000 40.00% Total $8,750,734 100.00% I hope this helps!
Re: About: product production! - Dear Fresh Goods, You post always sound optimistic. That is good. Do you have a working prototype of your invention?
Re: What Sells Online? - Its really true that gadgets, books and fashion wears are more in demand on the internet business.. But firstly, the assumption I am going to make is that you are looking to install an open source software. The one I recommend is Magento Commerce, which is an extremely powerful platform to use for any e-commerce business. Tyrone Shum Internet Business Path dot com --------------------------------------------------------------------------------------------- Need help with understanding ecommerce? Visit my blog and learn how to profit from ecommerce.
Re: Email Marketing - Yes, true. What kind of changes happened in Email campaigns except the opt-in? Finding the exact target and reaching them is always a challenge. What new methods can we have to reach the new customers? Thanks Robert


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Track Your Time for Increased Productivity

LISTENING SKILLS IN COACHING

Stress: What Causes It and How To Deal With It

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.