Let’s face it! In a bad economy, many of the popular income generating approaches has just fizzled. If you own a business or professional practice —unless you’ve lucked out and offer a product or service that is benefited by the recession —your revenue, sales…and personal income are all suffering now. But as promised, I will share weekly an idea to move us beyond despair.
.
Cash-flow is the key element everyone now needs to focus upon. But how do you increase, multiply and expand your own personal or business cash-flow —
when the economy, consumer sentiment and market place are ALL going against you?
.
You use barter —Yes , barter is a type of trade in which goods or services are directly exchanged for other goods and/or services, without the use of money.[1] It can be bilateral or multilateral, and usually exists parallel to monetary systems in most developed countries, though to a very limited extent. Barter usually replaces money as the method of exchange in times of monetary crisis, when the currency is unstable and devalued by hyperinflation.
.
.
.
Bartering Example
Carnival Cruise Lines, a Florida-based cruise line which is now the largest cruise line in the world, started with one ship and insufficient operating capital. The line traded empty cabins for radio, television and newspaper advertising in 100 cities over a ten-year period. The cost of an empty cabin once the ship sails is minimal. Plus the passengers may spend considerable cash in the bar, casino, gift shop and shore excursions; thus the net cost to the cruise line to fill an empty cabin was literally less than zero.
Stated differently, they made a massive profit off the bartered cabin being occupied instead of going out empty. Here’s the payoff to the cruise line. They used this technique to become the largest cruise line in the world and continuously advertised in 100 cities for more than ten years without spending a penny of hard cash. A conservative estimate of the amount of sales generated was $100,000,000. The owner of the cruise line is now a billionaire and in the top ten on the Forbes richest list. And it all started with one 30-year-old ship and heavy barter advertising.
Your Turn
There is tax implication when you enter a bartering transaction. Do your homework and see how you can benefit.
Brainstorm potential bartering partners in your network of business.
Seek a competent broker that can make the deal happen.
Post a response or for the post-challenged, send an email to recessionbegone@gmail.com with your thoughts.
We were bombarded on yesterday by the carnage of mega job losses in several major US companies.
We mourn with those families adversely touched by the economic cyclone of our times.
.
One story that did not get the requisite press as it did not bleed, is how Fedex is managing the economic down turn.
It is a story of solid corporate leadership in turbulent times .
Here is the the summary statement of Fedex’s CEO, Fred Smith.
.
” We face serious economic challenges and must take immediate steps to minimize job losses and protect the long-term financial health of our company. We are doing exactly that with several significant actions that impact all of us:
For the first time, U.S.-based management and salaried-exempt team members will take permanent pay reductions. These salary changes will not impact hourly employees such as couriers, mechanics and package handlers.
CEO’s salary will be reduced 20%.
Other FedEx senior executives will have their salaries reduced 7.5 to 10%.
The rest of our salaried-exempt workforce will take 5% reductions.
We are also eliminating 2009 merit increases and fiscal year 09 bonus payments for U.S. salaried-exempt personnel (sales incentives are not affected). In addition, we will be suspending the 401(k) company match effective February 1, 2009, for a minimum of one year.
We hope to reinstate the Company match in 2010, depending upon business and global economic conditions.
These actions are part of broader efforts to reduce costs throughout our organization.
Based on these programs we are projected to reduce spending by more than $1 billion through FY2009 and another $600 million through FY2010.
I fully recognize that these pay actions are difficult, but this economic environment is unprecedented for us and requires decisive action.
Taking these hard steps now will mean a stronger FedEx later.
I’m confident we will manage through these tough times and be positioned to take full advantage of market conditions when the economy rebounds.I am asking all our team members to keep focused on delivering an outstanding FedEx experience to our customers and to each other. That has made all the difference during past economic challenges in our history. Our ultimate success depends on it again today, and I know we’ll come through. ”
I applaud Mr. Smith’s leadership here. This is a candle in the econonomic darkness !
Two challenges:
How will you Ms/Ms Business owner use “the share the pain “approach to protect your community?
If you are a Fedex employee, share your sentiment from ground zero.
After the inauguration in Washington last week, all eyes are still pointing to Washington to solve the global economic woes . What a pity! Sure government plays a role, but if we wait around for these geniuses, we would be doing ourselves a major injustice. Look it, within ourselves is the collective genius to make significant progress towards recovery.
.
A natural human tendency is to let enveloped by a darwinian attitude of survival of the fittest during challenging times.
Let me suggest a different approach:
.
How about survival of the knitted, networking ourselves, leveraging some new tools to position ourselves to be stronger after this economic hurricane.
(Hope you viewed the lessons of the geese video)
Study this picture below and see where you fit.
We can combine our efforts to break this cycle and reverse this direction. Before you call be the neo Don Quixote, here is my pledge.
I will highlight an initiative or idea shared or observed of folks doing stuff that is inching the ball in the uptick direction. I will do this through June 2009, and summarize the implications prior to recommitting to continuing the effort into the future.
I ran across this gem of a quote that encourages the strong of heart.
“Recession is the re-allocation of
money from the scared to the bold.”
Last week, we witnessed the miracle on the Hudson where a pilot and his crew was able to skilfully maneuver his craft and saved 155 lives. The culprit of this near disaster was a flock of geese getting caught up in the engines of this aircraft.
My first reaction was how can we get rid of these nuisances, but a week later, I find myself considering birds in a more favorable manner. I was reminded by scriptural wisdom of what birds can offer.
Even the stork in the sky
Knows her seasons;
And the turtledove and the swift and the thrush
Observe the time of their migration;
Observation of birds can provide us with life principles that could boost
I join with the multitude of millions as witnesses to this moment in history.
We congratulate you and share our well wishes for a successful new presidential era. We pray for your success because so much rides on your shoulders.
On this past Sunday, two of my daughters were fortunate to be present at the Lincoln memorial to get a glimpse`of you. They called excitedly about seeing you, Michelle, and the girls. There was such a hopefulness in their tone.
.
We know that this hopefulness will be challenged by the enormous demands. I pray that this new beginnings be reframed in authenticity and transparency.This will be needed as we embark on the difficult task of transformation from our present dire circumstance to a new mountaintop.
But for this day, we will relish this oasis of hope, dance, celebrate these moments, and then roll up our collectives sleeves, gather our equipment and become mountain climbers tomorrow.
Today, we celebrate Dr. Martin Luther King Jr. eighty birthday.
.
With all the excitement taking place in Washington DC, it is easy to overlook the man whose courage and leadership spawned a season of hope and justice. Today we peek in on a group in the home town of Dr. King, Atlanta Georgia. This is important as there is a growing Jamaican community in Atlanta, boasting upwards of 50K. At this level, the economies of scale have a vibrant potential.
Today, we are encouraged to invest ourselves in projects of service.
There is a group in Atlanta who is ahead of the curve with regards to service. Yes, there are many community focused groups in this fair city, however today let me profile the Benevolent Mission of Atlanta (BMA).
This organization was formed on March 5, 2006 and over the past three years has given financial assistance to a number of schools in St. Ann, Kingston and Westmoreland.
Mrs. Gail Dunwell , newly appointed president has stated that BMA’s mission is dedicated to effectively harnessing and leveraging the time, talent, and resources of the Jamaica-U.S. Community to assist disadvantaged and at-risk children, who possess great potential, throughout the island of Jamaica and in the metro Atlanta area.
She is supported by a new 12-member board of directors .
They are First V.P., Kisa McDonald, Second V.P., Everett McNish, Secretary, Norma Harry-Love, Treasurer, Patrick Hector, Assistant Treasurer, Jo-Ann McNish, Director, Damian Facey, Director, Bishop Bostic, Director, Courtney McFarlane, Director, Christine Montaque, and Immediate Past Pres. Dr. Conrad Ingram, and Rolston Dyer, Parliamentarian.
.
“BMA’s goal is to help to ensure that these children are prepared for a lifetime of socially responsible citizenship. Our focus is on elementary and middle school-aged children, with the objective of improving literacy and numeracy among such students, thus preparing them for a successful transition to high school,” she said.
.
May the spirit of BMA encourage us to dream and do great things.
.
.
Let’s find some way of sewing a new thread in our community’s quilt to strengthen, and knit us together in an enduring way.
His Excellency Anthony Johnson is Jamaica’s ambassador to the United States.
Ambassador Johnson’s office is situated in Washington DC in close proximity to the White House.He was kind enough to share his thoughts with our community regarding this historic inauguration of Barak Obama, the first person of color to hold the most powerful office in the world.
.
President Obama’s victory is a testimony to the values of America ’s national motto- E Pluribus Unum (One from many), which has enforced the power of inclusiveness of the American dream. Above all, the message of his career is that anyone of ability can use the system to achieve his or her goals, no matter how lofty these might be.
.
He has been called to lead the most powerful nation of the world at a time when the world faces its most formidable challenges in our lifetime. President-elect Obama’s message during the election campaign demonstrated his profound understanding of these challenges as he shared his vision for a new world of peace and prosperity.
.
I am confident that as he sets about actualizing this vision, he will make this a better place for all of mankind.
The hope is that developing countries like Jamaica , so often left on the periphery of the global agenda, will be more involved in the foreign policy framework, which recognizes that shared, broad-based development is the surest way to secure and maintain global prosperity and stability.
.
I look forward to the strengthening under his administration of the warm relations that Jamaica has enjoyed with the US for many years and he can be assured of Jamaica’s co-operation as we both strive to make improvements in the quality of life of our people.
Join Ambassador Johnson and share your hopes for the relationship of Jamaica and the United States.
This choice used to be a slam dunk for the average person.
But the financial and geographic winter that has gripped the globe and frozen many brain cells into a state of despair. The Jamaican Tourist Board had decided to do something about this and provide a stimulus program to jolt the world back to vibrant living.
Imagine being a commuter , feeling emotional, and physically like the abdominal snowman suffering from the double barrel assault of the weather and economic worry. A treat is now being redefined as a McDonald’s cup of coffee. Just how much further bruising can one’s psyche take?
Then there it is, an oasis for sore eyes, the poster declaring
Jamaica’s Winter Rescue Program
Located in the main atrium and throughout the remaining floors of the Port Authority Bus Terminal, the new campaign comprises ceiling banners, large floor mats and large scale posters.
“Many consumers are looking for relief during our current challenging economic situation. We want to spread the message that Jamaica offers travelers both accessibility and value for a winter getaway,” said John Lynch, Jamaica’s Director of Tourism.
Jamaica Winter Rescue Events
Events will take place in the following cities:
New York City’s Port Authority Bus Terminal – January 13, 20, 27 and February 3
Boston’s South Street Station – January 13
Philadelphia’s 30th Street Station – January 15
Chicago’s Union Station – January 15
The events will feature Jamaican music, food and drink, and special giveaway items, along with a chance to win a trip to Jamaica.
Jamaica Winter Rescue Taxicab Promotions
In New York, Philadelphia, Boston and Chicago keep your eyes out for special taxicab tops that will feature Jamaican advertisements.
In addition, the Jamaica Tourist Board has teamed up with radio stations in each city to offer a special Jamaica Winter Rescue Promotionwhere listeners can notify the station when and where they spot a Jamaican taxi, and enter to win a trip to Jamaica.
The participating radio stations are:
New York – WLTW-FM and WWPR-FM
Philadelphia – WISX-FM
Chicago – KISS-FM
Boston – KISS 108-FM
The unspoken question is how can Jamaica be so bold as to invite folks to invest in themselves at a time like this? Well, poverty of the spirit is a deeper malady than material want as it robs one of the possibility of improving one’s state. When one can trade in their winter of discontent, and get a big dose of vitamin D for the body & soul, one will be well prepared to deal with the challenging circumstances we encounter.
Spread the word folks, participate, and exercise a little genius in investing in yourself that will have multiplying effects.
Let us know about your sightings/impressions of this campaign .
Here is a first report from Chicago by Helen Ames
.
CHICAGO – January 15, 2009 – CHICAGO COMMUTERS ESCAPED THE CITY’S FRIGID CHILL WITH A JAMAICAN WINTER RESCUE – At Chicago’s Union Station, local commuters got a taste ofall things Jamaica including taxi toppers, backdrop spectaculars, free goodies, and live reggae music. Glen Bucknor, Jamaica Tourist Board representative based in Chicago, is seen above giving local commuters many reasons they should take a Jamaican Winter Rescue including value and accessibility the destination offers. Commuters also got into the island vibe by jamming to live reggae music provided by the Jamaican One Man Band.
And from Boston by Alicia Rainbolt.
Hope she is heading to our place of Eternal Summer.
Regardless of your political persuasion, this coming week is the prelude to an enormous, historical moment. A person of color will have ascended to the most powerful office in the world.
The pressures and expectation on Obama are mind boggling.
.
This week however marks a special time, call it a pre-honeymoon period, where the transition of power takes place. You can be more than spectators to this wonderful ritual. Why not record for future generations your thoughts and observations.
I invite you to take a moment and think through what memories of the start of the Obama era would you like to share with your kids or grand kids. For example, include pics of:
Favorite electronic toy
Labels or packaging of favorite foods or other products. Include price tags, if you can.
Newspapers or magazines showing current events or current trends.
Photographs.
Coins.
Record the headlines, trends, popular culture, and those special individuals who were there to share these events of you.
.
A friend of mine had the ingenious idea of designing a special postcard to commemorate the specialness of this moment. She is working with a an elementary school to have the kids mail this Obama postcard to themselves with a date stamp of January 20.This will be their certified means of this historical moment
You may not be this invested, but do something! Imagine the delight of that child who says.
” Grandma forgotten a suitcase, trunk, or journal in her attic and you will not believe what treasures are in it.”
.
I invite you to leave a piece of your digital legacy here.
Leave a response to this post that I will include in my collection.
Recently these two birds were overheard on a break at a local Starbucks!
Jancrow: So what can I get you today?
Chicken Little : How about a large fear Bull!
Jancrow: I have a lot to thank you for! Because of you my job is on easy street.
Chicken Little : Thank you, but if truth be known, I get a lot of help from the media. In the old days, I needed a megaphone and you should see my monthly payroll, but now I have respectable volunteers such as Continuous Negative News – 24/7 baby!
Jancrow: You’re right! Every news channel, every news paper seem to share the same headline with a little variation.
Chicken little: I thought I was going to have a tough 2009, you know all the talk of change and hope.
Jancrow: So what happened?
Chicken Little: Well, All I needed to do was to survive that happy music of Christmas, get folks to take down their lights, and ask old man winter to give a few extra puffs.
Jancrow: But was New Year’s only last week. The dropping of the ball, the happy well wishes, how could things get this bad that quickly.
Chicken Little : You spending too much time looking after road kill man. Now that you are on easy street, stop in at the library sometime or use your new fangled phone to do some surfing. Well, January was named after an ancient god Janus.
Jancrow: So?
Chicken Little: Well as you know these gods were exalted representation of the folks back then imagination. Janus was the god of entry, new beginnings. Well, my fore bearers played a nasty trick on the folks back then, and gave the symbol two faces, take a look see.
Jancrow: Brilliant strategy! If you can get them to look backwards and forwards simultaneously, they will never progress, become disheartened, and before you know it, road kill!
Chicken Little : You catch on fast bro.
Jancrow: Yes, I would call this scheme Operation Sabotage!
Chicken Little: I want to know if you want to enter into a joint venture with me?
Jancrow: Me all ears bro.
Chicken little: Well, we need to mount a campaign to keep all hopeful, inspiring talk from the masses.
Jancrow: I got it, how about me doing a rap number , get this - “The Sky is Falling! — The Sky is Falling!”
Chicken little : Hey bro, that’s my gig OK!
Jancrow: Alright, suppose I will just deposit a load on those folks with their happy words.
The wisest words ever spoken were, “This too shall pass.”
Chicken Little: Yes, fortunately for us, most people believe that whatever is happening today will be happening forever.
Jancrow: You would not believe what I heard some idiot repeating:
“Keep your eyes on tomorrow. You will live through today – and – tomorrow will be what you make it; not what it is today. ”
Chicken Little: Well, do your stuff, unless you want off of easy street!
Jancrow: Saw this report a few weeks, back. need to keep it out of view as it shares the pain period but predicts a recovery!
2008
2009
2008
2009
2010
III Q*
IV Q
I Q
II Q
III Q
IV Q
Annual
Annual
Annual
Real GDP
-0.5
-4.4
-4.2
-0.7
2.2
2.4
1.2
-1.5
3.0
CPI Inflation
6.7
-9.0
-3.9
-1.7
2.2
2.6
3.8
-1.5
2.4
Real Consumer Spending
-3.7
-4.6
-1.5
-0.7
1.6
1.9
0.2
-1.5
2.0
Unemployment Rate (%)
6.0
6.7
7.4
8.0
8.3
8.3
5.7
8.0
8.0
90 Day T-Bills (%)
1.51
0.33
0.10
0.26
0.46
0.80
1.40
0.40
1.69
10 Yr Treas Bonds (%)
3.86
3.43
2.95
3.10
3.28
3.47
3.71
3.20
3.79
* Actual data
Snap shot for the conference board perspective from Mid December 2008.
Chicken Little: I am counting on folks just listening to headline news rather than taking a few additional moments to fully understand the world around them.
Jancrow: We better get our wanted ads out quickly before they get unto us!
Just then in the corner of the store was the swelling sounds of hope coming from a choir of sparrows.
Day by day, and with each passing moment,
Strength I find to meet my trials here;
Trusting in my Father’s wise bestowment,
I’ve no cause for worry or for fear.
He, whose heart is kind beyond all measure,
Gives unto each day what He deems best,
Lovingly its part of pain and pleasure,
Mingling toil with peace and rest.
Every day the Lord Himself is near me,
With a special mercy for each hour;
All my cares He fain would bear and cheer me,
He whose name is Counsellor and Pow’r.
The protection of His child and treasure
Is a charge that on Himself He laid;
“As thy days, thy strength shall be in measure,”
This the pledge to me He made.
Help me then, in every tribulation,
So to trust Thy promises, O Lord,
That I lose not faith’s sweet consolation,
Offered me within Thy holy Word.
Help me, Lord, when toil and trouble meeting,
E’er to take, as from a father’s hand,
One by one, the days, the moments fleeting,
Till with Christ the Lord I stand.
