by Business and Life Coach Carmen Carrozza
It’s been a few years of absolute ups and downs in our economy – with the downs far outweighing the ups for some. Mortgage crisis, foreclosures, the breakdown of our largest investment firms, and a banking industry that is in disarray. There is a slowdown in consumer spending due to the loss of savings funds and the lack of job security of many bread winners in the work force. The loss of over 40% of our investments, including retirement, children’s college funds and and overall savings plans will take many years, if ever, to recoup. What is the next shoe to drop?
Does everyone remember how we have paid for luxury items, vacations, holidays, gifts, and oh yeah, grocery over the past 25 years. If you guest CREDIT you get a gold star (Good news, gold is selling very high right now!).
Consumer credit outstanding in the U.S. is in the trillions. And that’s NOT including mortgages, only consumer credit. With so many families struggling, small companies trying to survive, and large corporations looking for cost cutting measures every day, there will be many people unable to keep up with the bills.
Credit is one of the first items to go unpaid in this environment. Mortgages, utilities and the necessities are payment priorities. It is always smart to have a plan in place for the worst of times, but sadly, many people do not, or are running out of their emergency funds.
The key right now is saving in every possible area you can. Look at your daily spending habits and find ways to save dollars. The dollars add up and help you get through the current economic crisis. look at your entire financial picture to discover other ways to save. Things will get better, it will be easier on those who sacrifice now and learn the harsh lesson taught by these times: Have a financial plan, stick to that plan and don’t get fooled again.
If you need help – call us. We can get you and your family on track to financial security (and a more stress-free life!)]]>
by Executive Coach and Keynote Speaker Carmen Carrozza
Do you know how many businesses opened their doors in the U.S. in 2009? Over 552,000. That is a great amount of Americans who have taken the ultimate chance, putting the life of their family and a good portion of capital on the line.
Now for the bad news. More than 660,000 businesses closed their doors in that same year. Another statistical fact is that over 50% of businesses don’t make it to celebrate their 5th anniversary.What is the reason for this degree of failure?
Here are the main reasons in order:
1. Lack of Experience
2. Insufficient Capital
3. Poor location
4. Poor inventory management
5. Over-investment in fixed assets
6. Poor credit arrangements
7. Personal use of business funds
8. Unexpected growth
10. Low sales
Yes, there is a common thread that could lead to any of these. A bad business plan or a lack of one altogether. There are businesses that succeed without a solid business plan, but those are far and few between. Are you willing to put it all on the line and “Hope for the best?” That, my friends is crazy.
Whether new or existing, every business in this complex global, digital and economic environment needs to be on top of their game. Without forward critical thinking, any business is at risk.
Post any questions or comments you have about business plans and I will be glad to respond to all of them as we travel this road.]]>
If you are in the market for a new job or career, I’m sure you already know that it is fiercely competitive out there. There are well over 15 million people out of work, millions more working part time or in positions that pay far less than they had previously earned. On top of that, nearly 1 million college graduates enter the job market annually, never mind those who have chosen work over college. Right now, there are about 5 applicants for every job available. when we look at professional positions, the number of applicants for a particular position can run into the hundreds. What are your chances?
I’ll be giving weekly tips that will help you gain employment sooner than later. This week’s tip is:
Be sure to tactfully manage your social networking sites. As a career coach, I see good people lose opportunities every day due to the fact that businesses today Google youto gather as much background information as they can. Photos, comments and connections you make can give the wrong impression of you to a potential employer.
There are the obvious postings that can do you in; vacation, party and family fun photos for instance. They should be reviewed to make sure there are not photos that show too much, or would throw up red flags. Also, anything available that you write can be reviewed. Using inappropriate jargon or rudeness, along with more traditional reviews of grammar and spelling could speak to credibility. So if you are serious about getting to that next level of employment, be aware of the background search realities: It is not just about drugs, arrests and past experience anymore.
If you truly want to be considered for that next step in the hiring process, be sure to “clean up” your online social life to be viewed as a seriously viable candidate.
If you want to learn how you can best succeed in today’s competitive market, call me at 888.616.COACH (2622)!
It was early one morning in mid-November of last year when I first felt it. An amazing pain shooting from my lower back down into the front of the thigh to my knee on the right side. Immediately I thought I severely pulled a muscle. When I was pained to my knees in the local grocery store about 10 days later, it was time to call my doctor. during her exam, she noticed there was no reaction to the old hammer to my right knee. I was told to get an MRI ASAP, which I did. Two days later the pictures on the PC didn’t lie: A herniated disc at the 4th and 5th lumbar.
I spent the next few weeks in extreme pain, working with my marvelous physical therapist, Jennifer. Unfortunately, the pain worsened. I could barely take a few steps at a time, hanging on to anything I could to gain some support. It was like a sword being placed through my lower back to my right knee ALL the time. Prescription drugs barely gave any solace from the constant agony.
In mid February, I visited my surgeon and her words as she watched me woefully hop into her office were, “It’s time for surgery.” Back surgery? As much as I feared and avoided it, I would have lied down on the bench and had her slice me right then and there.
As I awoke from anesthesia, the relief was palpable. For those of who don’t know, a herniated disc is a when the disc between your back bones basically explodes open, with the contents lodging against the nerve root. The operative procedure removes the disc material and cleans up the area, allowing the nerve to heal and work normally again.
I have been lucky so far. My surgeons’ work is done, and my physical therapy is becoming more aggressive. I can walk normally and hope to minimize any pain discomfort with core exercises and learning how to manipulate my body without causing too much pressure to my lower back.
As a business and life coach, I take this experience as an opportunity to not only form a more enlightened understanding of pain management, but how to live with it and still continue to thrive and grow. Pain does not always mean physical pain. There can be underlying issues like self-doubt, past failures, and general insecurity to move forward. My job as a coach is to work with those who have regained the courage to move past these negative devices and move in direction driven by desire and new born motivation.
There is no richer feeling for me than to know I participated in raising the spirit of a company or individual to the point where they take positive action and look forward with confidence. That’s why I do this. Need help? Contact me today at 888.616.COACH (2622)!]]>
Every time you have to make a decision, what is your process? Most people think about what they did in the past and then formulate a response. Think about the repercussions of this lack of foresight. Yes, it is important to learn from the past. That doesn’t mean our decisions should be totally influence by our past experience. One mental process the most successful people use when decision-making is, “What can I do that will create the result I am am looking for.” It may have nothing to do with past results, rather it is about what they want to accomplish.
So, next time you are going through that moment in the decision making process when you search your brain cells for what you did before, even if it was successful, shut it down and explore your creativity and see if there are alternatives that inspire you to think in Forward Motion.
Need help with this practice? Contact me today at 888.616.COACH (2622)!
It would be quite normal for a business and life coach to have a radio show that is about self help and guests that speak about coaching and self-help.
Not Forward Motion. My weekly radio program, heard locally on 1490 WGCH out of Greenwich CT and live streamed at www.wgch.com, is much more than that. My goal is to talk about topics that affect businesses and individuals every day, then discuss ways to overcome obstacles, control what is controllable, and provide guests that add value to my listeners.
I want everyone out there to be aware of what is really going on in our economy, and the effectiveness and rapidity to which our leaders respond.
My guests have included Lawrence Smith, a member of the Financial Accounting Standards Board, Carla Rose Fisher, editing, writing and marketing guru, and Sal Provenzano, insurance expert.
I have entrepreneurs, professionals and businessmen, anyone that can tell their story that helps you, whether it be their successes, failures, obstacles they have overcome, or pure information to help your business become more successful.
Business and life are complex, taking into consideration global commerce, technology and unlimited communication. You have to be prepared to move forward with focus and determination.
I believe one of the only ways to reach your goals and dreams today is with a professional coach that is a guide, and knows how to take you on a journey to new levels of confidence and success.
Tune in every Tuesday at 4:00EST or listen to podcasts at www.wgch.com.
Your business and your life can’t wait.]]>
Unemployment- The rate rose to 9.6% on September 3rd
Payroll Employment- Dropped by 131,000 in July.
An average of 485,5oo weekly applying for unemployment benefits.
1609 mass layoff events, losing 143,703 workers in July. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance filed against them during a 5-week period.
Labor Productivity- Decreaesd 1.8% in second quarter of 2010
Consumer Confidence- Stands at 50.4, in good times it runs in the 90’s.
Existing Home Sales- Down 27%, worst month in over 15 years, in the lowest mortgage rate environment in history!
New Home Sales- Down 12.4%
70% of our economy depends on consumer spending: No jobs, no money.
Banks- Not lending to small business
Small Business- Not hiring due to lower profits, concern over new tax and medical care costs.
Does any of this give you the feeling that we are in a recovery? What we are, is in a state of emergency in the United States. Instead of casting blame at others, the White House should be putting incentives in place to bring jobs back to our country along with factories and manufacturing plants that have been moved abroad. Instead of taking another vacation, the President should be putting together a lending plan for small business, without strings attached. Instead of playing elitist to the middle class, he should be financially supporting emerging companies that are driven by clean energy, environmentally safe products and safe foods , all that create jobs, rather than saving companies that helped put us in this disastrous situation.
What we need is true leadership. Leaders put effective plans in place that aggressively meet the goals and objectives of the group they lead, in this case, the American people.]]>
I’ve been having a lot of fun with my weekly half-hour radio show, “Forward Motion,” on WGCH AM1490. Featuring industry leaders as guests, we discuss the real facts about what’s going on in the world both financially and politically, and how these events and trends affect your ability to move forward in your life and your career.
If you’ve missed any episodes during the month of July, click below to download the podcasts:
Thanks for listening! Tune in next Tuesday at 4 p.m. on WGCH.com.
Also, are you on Facebook? Check out my new Facebook Page and connect with me.
We live in very complex world, and anything can happen during the watch of any president. What differentiates great leaders from the rest is how they react, the decisions they make, and how they communicate with the American people. To this end, Mr. Obama has done a very poor job. His lack of ownership of the spill has been obvious from the start. When he finally showed up at the Gulf 12 days after the spill began, he lacked any sense of urgency, and did not assure his fellow Americans that he developed an aggressive plan.
In business as in politics, great leaders are seen as taking charge, dealing with issues head on, and taking responsibility for things that go wrong, while thanking the group when there has been success. This is not the behavior I have seen in any way, shape or form by this President.]]>
Here are some recent examples of the continued decline in employment:
Article from TheStreet.com
Layoffs Continue to Mount
By Jeanine Poggi 02/24/10 – 01:31 PM EST
Boeing(BA Quote) announced on Feb. 19 that it had sent out more than 1,000 layoff notices. The majority of the employees laid off are technology workers in Washington state and California.
Those who received the notice are at risk of being laid off on April 23. Not everyone who received a notice, however, will be let go.
The layoffs are part of 10,000 jobs cuts that Boeing originally planned for 2009. When Boeing did not complete the layoffs last year, its management announced that it would finish the job of laying off the workers in 2010 — and might ultimately lay off more workers than the original 10,000 that were projected
Health insurance giant Humana (HUM Quote) announced on Feb. 17 that it will cut 2,500 jobs in 2010.
But Humana will also add 1,100 new positions, making the net job loss at the company 1,400, or 5% of its workforce.
Humana did not reveal where the layoffs would come from, but did say that new jobs are expected in medical-cost containment capabilities, pharmacy management and specialty products.
Ford Motor(F Quote) announced on Feb. 16 that it plans to cut 900 jobs at a Mustang factory.
The auto maker attributed the layoffs to slow sales last year and increasing competition from Chevrolet’s Camaro.
The Michigan plant currently employs 2,300 people. Most of the layoffs will be hourly manufacturing workers, but some salaried staffers will also be eliminated.
It’s worth noting, however, that Ford previously announced plans to hire 1,200 workers at its Chicago Assembly Plant to build the new Ford Explorer, along with 1,000 people in Michigan to make electric car batteries.
Merck(MRK Quote) announced a new restructuring program on Feb. 16, expecting to reduce its workforce by 15% by the end of 2012. The company currently employs 100,000 workers.
Merck said it is “committed to achieving” its previously announced savings target of $3.5 billion in 2012.
Boston Scientific (BSX Quote) announced on Feb. 10 that it plans to lay off as much as 10% of its work force in an effort to cut costs.
The news came after the medical device company forecast 2010 profit and sales below analysts’ expectations.
Boston Scientific will cut between 1,000 and 1,300 jobs, a move it says will trim 5.5% to 7% off its annual expenses.
It will eliminate its international headquarters and consolidate other departments.]]>