I'm just gonna say it, "Housing market anyone?" It just amazes me that hundreds of thousands even millions of people can lie to themselves and one another all at the same time. It's not a market bubble, it's a lie bubble. A big bubble full of lots of lies big and small, and when it pops everybody gets stabbed in the back. That's not even the worst of it. Now I'm looking for bubbles to invest lies in. As long as I pull out before it pops (am I going to get away with that last statement?), I can avoid all the s$#% before it goes down. I wonder what the next big bubble will be about?!
It seems like the dishonest and/or careless people who jump on opportunity right at the outset have the potential to profit from these bubbles, while the more cautious and/or honest people are a bit hesitant so they get screwed for coming in too late. Is this capitalism? Human beings? Moral Degredation? Maybe, all of the above? We will repeat this process. Is it a new phenomenon or something that's been happening since as far back as we can remember? Personally I think it's something that's been happening forever, only modern society and technology have allowed it to occur on a much larger scale. We no longer have little segregated economies, we are now a global economy. I'm talking big mother @#$%ing bubbles people! Personally, I think there are some missing laws that have not taken into account new ethical issues arising out of our modern world. In particular laws that pertain to public companies and investing.
Saturday, March 13, 2010
Accounting Basics on not so basic accounting
Reading this article was very confusing. Not the math; the math is not hard at all. Give me an excel spreadsheet and I'll show you what I can do. The terms however... Why do they make such simple things have large names that don't convey what they mean? I hear "Gross net overbudget blah blah blah", not "how much we made last year after taxes". Why can't we just call these numbers what they do and represent instead of making special names. The word "Profit" is the only term I feel I can deal with. This makes me think I could use an accounting class or two just to immerse myself in the terminology. Again, another example where immersion is necessary. I don't feel like I took much away from the accounting read at all, there were just to many unfamiliar words referencing other unfamiliar words.
While I am frustrated about accounting, I see much value in it. I thoroughly enjoy business math, whether I know the name of what I'm doing when I do it or not. It gives one a sense of control and organization, because, for me at least, one knows exactly what is going on. Where the money goes and how it's used is to the success of the business as the business itself. You can sell tons of a brilliant product or service and still be horribly inefficient. My boss bought out his business partners half of their business, and now the business is significantly more profitable (o.O I used an accounting word just there). His partner was giving discounts to everyone, not charging enough for labor, not paying bills on time, and ordering merchandise in little chunks instead of big shipments. Tens of thousands of dollars every year, a huge percentage of the cashflow was just falling through the cracks. I think I would like to be an organized person... perhaps google will help me.
While I am frustrated about accounting, I see much value in it. I thoroughly enjoy business math, whether I know the name of what I'm doing when I do it or not. It gives one a sense of control and organization, because, for me at least, one knows exactly what is going on. Where the money goes and how it's used is to the success of the business as the business itself. You can sell tons of a brilliant product or service and still be horribly inefficient. My boss bought out his business partners half of their business, and now the business is significantly more profitable (o.O I used an accounting word just there). His partner was giving discounts to everyone, not charging enough for labor, not paying bills on time, and ordering merchandise in little chunks instead of big shipments. Tens of thousands of dollars every year, a huge percentage of the cashflow was just falling through the cracks. I think I would like to be an organized person... perhaps google will help me.
Michele Armstrong please stick to questions
My title might sound mean, but I felt like her presentation was rather lacking. She was pretty much just reading powerpoint slides at the beginning. That's okay however, because she was awesome about answering our questions, and was very knowledgeable about the topic at hand.
Human Resource Management... that's something the small business I've worked at for the past 7 years could really use. I'm sure everyone with a job says something to a similar tune. People are people, and most of us are pretty @#$%ed up. The hardest part of my work day is dealing with people. Could you imagine if your job title was basically "Person who deals with people"? That's pretty much what a human resource manager is. Maybe the fact that they're honest about what their job is makes it easier for them. The rest of us are in denial. "I'm just a salesman, I shouldn't have to deal with this person!" Nope, you're wrong. Most of us have to deal with people, whether coworkers or customers, so person who deals with people is in our job title. Maybe it's all those other responsibilities we have to deal with that are dragging us down. "Alright, so you'll give me $60k a year. That should cover dealing with people, but how much are you going to pay me for programming?"
I found Michele's advice on interviews invaluable, and was happy I took extensive notes. There's all these things that are just expected, and we're JUST EXPECTED to know about them. It is in a sense its own culture. I find that the only way I can really learn about culture is by immersing myself in it. I'm going to take as many interviews as I can get. I'll keep screwing them up until I get it right.
Human Resource Management... that's something the small business I've worked at for the past 7 years could really use. I'm sure everyone with a job says something to a similar tune. People are people, and most of us are pretty @#$%ed up. The hardest part of my work day is dealing with people. Could you imagine if your job title was basically "Person who deals with people"? That's pretty much what a human resource manager is. Maybe the fact that they're honest about what their job is makes it easier for them. The rest of us are in denial. "I'm just a salesman, I shouldn't have to deal with this person!" Nope, you're wrong. Most of us have to deal with people, whether coworkers or customers, so person who deals with people is in our job title. Maybe it's all those other responsibilities we have to deal with that are dragging us down. "Alright, so you'll give me $60k a year. That should cover dealing with people, but how much are you going to pay me for programming?"
I found Michele's advice on interviews invaluable, and was happy I took extensive notes. There's all these things that are just expected, and we're JUST EXPECTED to know about them. It is in a sense its own culture. I find that the only way I can really learn about culture is by immersing myself in it. I'm going to take as many interviews as I can get. I'll keep screwing them up until I get it right.
Derek Young Undercover Rockstar
I'll admit that when I first saw Derek Young I saw some puny little computer nerd. I know now however that he's a man running multiple SUCCESSFUL companies, is active in his community, exercises like a fiend, and still somehow manages to find time for sleep. Currently he's living like 3 of my lives, because I don't actually believe I have anywhere near that much time in my life. Perhaps, I'm not using my gCal as much as I should be?
One of the things I noticed about Derek, is that he doesn't dig for opportunity. He comes across needs and passions, and then responds with what he knows. He learns things and then makes those things work for him. Though he said a lot of his success happened out of luck, I think he was being modest. I think a lot of his success comes from the fact that he clearly knows what he is doing. While I feel a lot of other guest speakers would make good board advisors/directors for my company, I would want Derek to RUN my company.
I was really excited to hear about his office space for startups. That's an amazing idea, and I think a service to the community. Seeing what Derek has done inspires me, and makes me seriously consider being an entrepreneur. I think instead however, I'll start by getting a handle on my own life. Being organized and managing ones time while still taking care of one's self is a skill everybody should have or at least strive for. Though I'm not a child anymore and I no longer look up to the garbage man and his awesome truck of crushing, I can most assuredly say, "I want to be like Derek when I grow up."
I have seen every guest speaker's presentation. I asked Jon Goodman only one question, and asked between 3 to 5 questions of all the other guest speakers. I'm very curious and have a hard time keeping my mouth shut.
One of the things I noticed about Derek, is that he doesn't dig for opportunity. He comes across needs and passions, and then responds with what he knows. He learns things and then makes those things work for him. Though he said a lot of his success happened out of luck, I think he was being modest. I think a lot of his success comes from the fact that he clearly knows what he is doing. While I feel a lot of other guest speakers would make good board advisors/directors for my company, I would want Derek to RUN my company.
I was really excited to hear about his office space for startups. That's an amazing idea, and I think a service to the community. Seeing what Derek has done inspires me, and makes me seriously consider being an entrepreneur. I think instead however, I'll start by getting a handle on my own life. Being organized and managing ones time while still taking care of one's self is a skill everybody should have or at least strive for. Though I'm not a child anymore and I no longer look up to the garbage man and his awesome truck of crushing, I can most assuredly say, "I want to be like Derek when I grow up."
I have seen every guest speaker's presentation. I asked Jon Goodman only one question, and asked between 3 to 5 questions of all the other guest speakers. I'm very curious and have a hard time keeping my mouth shut.
John Dimmer and Scary Investors
"After all is said and done, the term sheet is not a document that should be taken lightly, as it can seriously impact the rights that you have to control your business. It is not something that the individual investor should negotiate themselves, without an attorney." -from Blog of Kyle
I heartily agree with Kyle on this one. While some investors may JUST want you to succeed, I imagine it's almost always driven by money in some form or another. Investors are sending large sums of money your direction, in hopes that they will get a good return on their investment. Doesn't it make sense for them to negotiate terms that are in THEIR best interest, potentially at the risk of your own? Attorney or no, I see a lot of room for bullying here. Investor interest is going to push hard, and you're going to need to be able to push back and hopefully just as hard.
The article felt more like a crib sheet to me. Though useful, I found it so only in the sense that it says, "See, you have no idea what you're talking about!" I don't think there's any amount of reading that can properly prepare you for negotiating terms. Cold, hard experience is what the job calls for. I used to think school got you ready for the REAL world and the job market. Nope. Like learning to swim, one can only blow bubbles on the side of the pool for so long. Eventually, one has to flail around and choke on water for a bit. Don't worry though, people never drown... well almost never.
I heartily agree with Kyle on this one. While some investors may JUST want you to succeed, I imagine it's almost always driven by money in some form or another. Investors are sending large sums of money your direction, in hopes that they will get a good return on their investment. Doesn't it make sense for them to negotiate terms that are in THEIR best interest, potentially at the risk of your own? Attorney or no, I see a lot of room for bullying here. Investor interest is going to push hard, and you're going to need to be able to push back and hopefully just as hard.
The article felt more like a crib sheet to me. Though useful, I found it so only in the sense that it says, "See, you have no idea what you're talking about!" I don't think there's any amount of reading that can properly prepare you for negotiating terms. Cold, hard experience is what the job calls for. I used to think school got you ready for the REAL world and the job market. Nope. Like learning to swim, one can only blow bubbles on the side of the pool for so long. Eventually, one has to flail around and choke on water for a bit. Don't worry though, people never drown... well almost never.
Building Out My Company...If I had one ;)
It surprises me how much people will plan for in their lives. The amount of detail that goes into a business plan, whether operational or as a sales tool, seems a little absurd. To plan so far ahead and with so much detail is very limiting and unrealistic. I think its enough to say, "See I know what I'm doing. I've thought of everything. If something should come up I'll know how to handle it." With that approach it's reasonable to plan ahead with a business plan, but to say, "This is what is going to happen around this time, and then I will do this." is unreasonable, especially when the predictions sit atop one another. No one has that much control over life, nor that much foresight.
Me personally, I think I would take a little more casual approach. This is what I think needs to be done to succeed, and these are the resources I need to do such a thing. I discuss possible situations and their solutions, and then see what happens. So much of life is played by ear, that an aggressive approach would require being over prepared. Over prepared in this instance would mean expensive in one form or another. I would instead be over prepared by having the means at my disposal (reserve funds, potential employees, exc...) to handle situations as they arise. Take life as it comes at you I say, but don't let it catch you with your pants down. Be smart and pay attention, and I imagine you can succeed at almost anything.
Me personally, I think I would take a little more casual approach. This is what I think needs to be done to succeed, and these are the resources I need to do such a thing. I discuss possible situations and their solutions, and then see what happens. So much of life is played by ear, that an aggressive approach would require being over prepared. Over prepared in this instance would mean expensive in one form or another. I would instead be over prepared by having the means at my disposal (reserve funds, potential employees, exc...) to handle situations as they arise. Take life as it comes at you I say, but don't let it catch you with your pants down. Be smart and pay attention, and I imagine you can succeed at almost anything.
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