Business Finance Tips To Keep You From Going Bankrupt

One of the main reasons why so many people start their own business is to establish a reliable means of generating income. However, this is much easier said than done. There are many things that could go wrong, whether it’s in a natural disaster that renders your business inoperable, a virus pandemic, or an economic collapse. While these unfortunate events are near-impossible to predict and prevent, you can keep your business from going bankrupt. These are a few ways that you can keep your business afloat in an ever-changing economy.

Discard Non-Essential Expenses

One sure way of ensuring that your business does not become bankrupt is to minimize unnecessary expenses. If it’s an expense that does not contribute to the operationality of your business, you might need to cut down on that expense, or better yet, eliminate that expense. As a general rule, if you want to increase the probability of success for your business, you have to minimize your expenses while maximizing your revenue.

Sell Surplus Business Assets

If you don’t get much use out of it, you might want to sell it. Not only will you help equip other businesses with equipment of their own, but you’d also further bolster your finances so that you’re better able to respond to emergencies in the future. The proceeds from the sale of your unused (or under-utilized) equipment could even help you buy the equipment that you do need.

Prioritize Debt Repayments

If you’re paying off debt, it’s important to prioritize which you pay off first. You have to pay off those which have the highest interest rates first, especially if it’s a secured loan. With unsecured creditors, a safe approach is to treat all of them equally, which entails that you have to pay all of them something.                                  

Review Your Business Plan

Your business plan is the blueprint of what you want your business to be. This is going to form the entire basis for how you want your business to succeed, and it will often help you focus your efforts. It’s also important to review your business plans every now and then so that you’re able to adjust your direction according to the demands of the market. You have to ensure that your business plan reflects the current state of your business so that you’re able to make the necessary adjustments to your plans.

Address Problems ASAP

Ignoring problems will rarely have a desirable outcome. Sometimes, even the mere delay of a solution can damage your business significantly. If there are any problems that would affect your business, you have to address them immediately. A good example is if you’re having difficulty paying your employees or if it’s taking too long to do the accounting, you might want to consider utilizing a ytd pay stub instead to help streamline the process.

Running a business is not an easy venture. You have to be able to manage your resources as well as your teams properly in order to maximize your chances of growth and success. It’s far too easy to crash a business, especially if you lack the experience to manage one properly. May this information aid you well in steering your business on the right path.

Wealthy Celebrities Accused of Sexual Harassment

Women who experienced harassment are now more likely to speak out through social media and news outlets to share their own stories. The downfall of media mogul, Harvey Weinstein, led many women to come out and name other influential celebrities with incidents of sexual harassment. Here are some of the Hollywood men with accusations of sexual assault or harassment:

Ben Affleck

The Batman-actor was accused by MTV host Hilarie Burton of groping her in a 2003 “Total Request Live” appearance. Affleck, upon realizing the consequence of his past action, immediately sent an apology statement. Ironically, he issued his apology a day right after he criticized the behavior of Weinstein towards women.

Chris Brown

Chris Brown’s career is full of controversies and accusations of aggression towards women and domestic violence. He attacked his then-girlfriend, pop superstar Rihanna, in 2009. Brown pleaded guilty to one count of felony assault, and since then several other women emerged with claims of violence against the rapper.

In 2017, Brown’s ex-girlfriend Karrueche Tran received a restraining order grant right after she reported claims of threats and abuse from the With You singer. The following year, one more woman filed a case against him for holding her against her will while a friend raped her at his home in Los Angeles. Adding to Brown’s reputation was his legal trouble for multiple violent altercations and some fights as well.

In January 2019, a woman reported to the police that Brown, a friend of his, and a bodyguard, raped her inside one of Brown’s rooms. She told the police that several other women were also invited to his hotel after meeting him in a nightclub.

Sylvester Stallone

The world-famous actor and director, Sylvester Stallone, is up against a report of sexual assault back in the late 1980s. A police report from that period, refined by the Baltimore Post-Examiner website and the Daily Mail, indicates an unnamed teen, aged 16 then, gave her consent to have sex with Stallone in Las Vegas in 1986. The woman denied this and told the police that she did not consent to group sex when Stallone invited his bodyguard to participate in the deed. The Nevada law states that the age of consent is 16. Stallone’s representative, Michelle Bega, says that the allegation is categorically false and ridiculous.

Morgan Freeman

One of the world’s prominent actor, Morgan Freeman, is an 81-year old Oscar winner faced an accusation of unwanted touching, sexual harassment, and other inappropriate behavior by eight complainants. The CNN investigation published a report stating that a supposed pattern of abuse on women in movie sets and other events. The actor known for his distinctive voice denied the claim, calling the complaints undermining his 80 years of work in the industry. He added that, to his knowledge, he never promoted unsafe work environments for anyone who has ever worked with him.

R Kelly

The famous singer who popularized “Ignition” and “I Believe I Can Fly” also has his fair share of sexual abuse accusations. The R&B singer has been accused of sexual relations with young teens. The allegations on R. Kelly followed for decades, and another set of accusers came about acts of sexual coercion and physical abuse. A Buzzfeed report states that Kelly rented houses in Chicago and Atlanta for groups of women who would carry out sexual favors for him, which, of course, the singer vehemently denied.

Final Thoughts

A lot of the accused denied the accusations of sexual misconduct. But the law enforcement agencies prompted investigations which gave victims a little peace of mind. Sometimes, these people use their power and money to get what they want. Thankfully, the local business Clark, Clark & Noonan, LLC, gives proper representation against sexual crimes.

How A Solution-Oriented Approach Dissolves Stress

Stress is a normal physical response to any threatening event–but, if a problem becomes overwhelming, stress can hit a critical threshold. In fact, the resulting complex neurobiology of episodic acute stress can trigger a wild assortment of dysfunctional reactions, such as irrational decisions, emotional meltdowns, or self-destructive behaviors.

But, here’s the thing–many insurmountable problems are illusory and you can resolve them when you choose a solution-oriented approach rather taking a problem-focused attitude.

To illustrate the illusory nature of most problems, let’s look at possible solutions for some difficult problems like infertility and financial struggles.

What should you do if you would love to have a child but can’t get pregnant, or you would love to enjoy a more fulfilling life but can’t pay your monthly expenses.

 Resolving Infertility Issues

If you would love to raise your own happy family, but can’t get pregnant, it feels like a malicious twist of fate. You may even feel isolated, as if you’re the only person in the world with this devastating experience.

Invitations to large family gatherings, baby showers, or christenings cruelly remind you of your misfortune. Instead of sharing the joy of friends who talk about the antics of their children, you burn with jealousy. You also feel guilty because you’ve disappointed your parents and your in-laws. They won’t become proud parents because you’ve failed to continue the family line.

You can’t fix a problem until you understand it’s cause. So if you’ve been actively working on conceiving and haven’t taken birth control for a year or longer, then you should see a reproductive endocrinologist, a doctor who specializes in studying how hormones affect reproduction and infertility.

In the best-case scenario, there is a hormonal issue that you can correct with the right medical treatment.

In the worst-case scenario, medical science can’t cure your infertility. Assuming the worst, that you’re infertile, a solution still exists. Visit a fertility clinic or browse through a fertility website to find out about in vitro fertilization, which is usually referred to by its initials, IVF. Research the cost of IVF to see if this might be the answer.

Dissolving Financial Panic

You’re far from alone if you experience financial stress. If unresolved, it can lead to many health problems, like insomnia, depression, and anxiety. The uncertainties of the economy and the rising cost of living makes it difficult for many Americans to avoid the crunch of earning too little to cover their basic living expenses.

Here are two possible solutions:

  1. Increase your income. If you don’t have a job, then get one. If you have a job, but it doesn’t pay enough, then get a better paying job. If you can’t get a better paying job, then increase your knowledge and skills to apply for a better paying job or get a side hustle while still working at your regular full-time job. Finally, if you aren’t able to work at a regular job, then research remote work that you can do online.
  2. Increase your financial literacy. If you’re earning enough but still can’t pay your bills, then you need to figure out where your money is going. If you feel overwhelmed figuring out how to manage your money, then seek a financial advisor to help you sort it out.

The best way to defuse a stress-inducing critical problem is to find a viable solution. Pressing situations that make you feel that your life is falling apart like a cheap suit arise from the frustration of not knowing what to do. When you resolve a problem by finding the right solution, your high levels of stress will instantly dissolve–and you’ll feel relieved rather than freaked out.

How Some of The Rich & Famous End Up Dead Broke

Celebrities have captured the attention and imagination of regular folks for over a century. We tend to measure our own success and build our dreams based on how we see famous people living. But, the truth is that fame doesn’t always mean vast wealth.

There are plenty of celebrities that may appear to be living the high life, but in fact are struggling with finances. How does this happen? When you are in the public eye, many celebrities can get caught up in the rush of new money and keeping up the illusion of having money to spend.

For us non-famous folks, struggling with money can mean taking out a payday loan or tightening the budget belt, but for celebrities it can mean losing everything in a minute. There are some lessons to be learned here. You may come into some money one day, with or without the 15 minutes of fame. Let’s take a look at some of the most common mistakes that stars make that can have them poorer than where they started.

Rags To Riches Syndrome

Many celebs come from very modest means. When they hit the big time, the money rolling in can be overwhelming. The temptation to live and spend big can be hard to resist. Add to that the sudden change in their social circle, and in no time at all, new stars can find themselves rubbing shoulders with the rich and famous. The need to live up to those kinds of financial standards can be intense.

When wealth and fame come quickly, many stars may overestimate the power of their 15 minutes of fame. It may feel like they will be famous forever, when in fact they could end up being a flash in the pan like so many other minor celebrities. The public can be fickle, and the hottest thing today can be old news tomorrow. Assuming that the money will just continue to roll in is a common mistake for new stars.

Poor Money Management

Living the celebrity life can be busy and chaotic. For people that aren’t familiar with the ways of the famous, it can be easier to let someone else deal with the finances. This is a mistake that has cost many celebrities dearly. When checks are being signed and money is being managed without any sort of monitoring, it is no surprise that many stars are shocked to learn that the money has run out.

For many upcoming stars that have come from modest means, they have no real life experience in wise money management. That lack of experience and naive trust in advisors are what end up putting many in financial ruin.

Bad Investments

Opening your own restaurant, putting your name on a liquor brand or partnering with a designer to create your own clothing line are all celebrity standards in investing. Just because the fame is there today, doesn’t mean that the name will be able to support a brand long term. When money is no longer an issue, stars can tend to make unwise and spontaneous investments that are too risky.

It’s not uncommon when someone comes into money that family and friends start asking to borrow money. In many cases, personal loans are what can drain a celeb’s bank accounts faster than any other bad investment.

Divorce

Celebs that are married before they make it big can be at risk of losing everything in a divorce. As lives change quickly once celebrity hits, often marriages can dissolve just as fast. Although divorce can be expensive for anyone, stars that were married prior to their fame are less likely to have a prenuptial agreement in place. This means that their spouse is entitled to at least half of everything accumulated during the marriage.