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Huge changes are underway in oil and gas. The industry is starting to adopt a new wave of innovations in digital technologies which can help boost output and cut costs.
A new report suggests technological advances in the exploration and production sector could save seventy five billion dollars a year by 2023. Oil companies have for decades using powerful computers to analyze seismic data so they can target wells more precisely.
In oil bearing rocks, that technology is continuing to advance. Today only about one in three exploration wells finds useable volumes of oil or gas. But, increasingly sophisticated models of the rocks and fluids below ground level or under the seabed can raise that hit rate of successful wells to one in two, unless say the spread of intelligent and connected devices has allowed automation to make operations safer, more efficient and cheaper.
Norway’s equina for example has estimated that automation will enable it to drill wells, 15 to 20 percent faster by 2020. The oil industry generates large volumes of data. Till recently much of that data went unused, but the rise of cloud computing services is making it possible to store and analyze these huge amounts of data at a relatively low cost.
The cost of census for collecting more data is also falling off. Their sophistication is rising the expansion of Chevron’s 10 G’s oil field in Kazakhstan which is scheduled to start production in 2022, will include about 1 million sensors advanced reservoir models will also allow production to be optimized to squeeze more crude out of the fields at a lower cost.
A 1% increase in output from every conventional oil and gas field worldwide would add about 1.30 million barrels of oil equivalent per day to the market. That’s about the same as the total output from Libya.
Third in Greece, production made possible by these innovations will put downward pressure on oil prices adopting the new digital technologies will help oil and gas fight back against the growing threat they face from renewable energy; from battery storage and from truck vehicles
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I always envisioned fast-paced city life courtrooms, magnificent apartments, expensive dinners with high-powered friends at least. Ofcourse there would be money, but they would also be caffeine-fueled late nights from clash offices overlooking London. There would be dirt on some power-hungry banker selling secrets to foreign Prince’s private jets.
But, what is it really like are the horror stories of all-nighters and Sunday mornings then pouring over contractual fine print and partners who expect more than is humanly possible.
Maybe you’ve looked online at shiny websites or even spoken to an actual lawyer in the hope of finding out what the funnily enough just as high-end fashion labels don’t fill their home pages with pictures of complex supply chains and Chinese factories. So, two law firms present the sexiest side of international offices and partners working on huge deals and innovative fields.
Your firms have to sell themselves to clients and to graduates just like fashion labels do. That’s not to say that they don’t work on hugely exciting projects just to the realities of painstaking due diligence proofreading and research aren’t what most people aspire to when they dream becoming a lawyer, I felt frustrated that even after to vacation schemes of Clifford Chance and slopes in May, I hadn’t really got answers to big questions around lifestyle ethics and job satisfaction.
I think my jobs probably not as dramatic is it on a day-to-day basis. We do have moments of drama, we do definitely have moments of drama but it’s probably not quite as frequent as once.
The basics are essentially the same. We’re presented with business critical situations and where our clients and the business critical advice problems are actually in practice a lot trickier. I think to result of you know everything seems to fall out a place for those guys. Whereas, for us actually often you know that there isn’t really a right answer and it’s about getting your heads together and working out what’s the best situation.
Going forward, we perhaps don’t have the same degree of resolution that they do as well on a weekly basis, can you give an example of the sort of thing that if I’m the CEO of a company, I might come to you with saying I need you to solve this for me, I fall into the category of disputes.
Lawyers who tend to help if something’s got a bit wrong, you something that we do lots of here is when companies buy each other basically. I might be buying a company from you and I think it is worth a certain amount and it’s you know for lots of different reasons. It might be because you told me it’s worth a certain amount for lots of different reasons and then perhaps when I bought it actually it turns out not quite to be whatever I guess.
Now, I might want to get my money back. How I might want to be able to improve the company perhaps yeah and really it’s about kind of working out. What I can do in that situation, that’s the type of situation that might end up in. Perhaps, you know in a courtroom or something like that in the investigation space, there might be allegations that you know your employees have done something wrong.
One of their employees has done something wrong and you know that could be anything from bribery and corruption and right through to you know an employment dispute. Maybe, there’s been an allegation of bullying or harassment or something like that.
We might be brought in to try and help work out what’s actually happened and whether it presents any legal risks and I suppose what steps should be taken internally to manage those risks and made sure it doesn’t happen again.
I’ll get up at around 7:00 and the morning I spend with him, he hopped on a client call from home at 8:00 for 45 minutes he left home by 9:00 replied to a couple of emails and read some news on the way in and arrived at the office at around 9:30.
A couple of hours a day are dedicated to emails as a client focused business law firms. Clients expect pretty quick responses. He spends a couple of hours most days doing witness or expert interviews all calling clients, he then has another few hours conferring with partners on the cases he’s working on familiarizing himself with documents and drafting more formal submissions, this is spread around lunch which he tries to have away from his desk if at all possible.
If you have to even average a really kind of average of when you go home, yes I try not to stay in the office constantly which is probably a bit unusual to be honest that probably is a bit earlier than most easily and I’d say probably averages seven thirty hour climbs up.
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The first hold I want to demonstrate for you today is called the cradle hold. This one may become your go to hold. I know, it has for my wife and I because it allows you to have one hand free at all times which is really important as a new parent because as we know life doesn’t stop just because you have a baby. You still have to get things done.
So, what you want to do is start with your left hand on your baby’s rear. Your right hand supporting your head and neck and all you’ll need to do is just spin her around in that left hand and place her right on the inside of your elbow there.Allow your forearm to allow her back to rest on your forearm. You’re gonna be supporting her back that way and then make sure you’ve got your hand right under her.
So, the second hold I want to demonstrate for you today is called the snuggle hold. This is a great way to comfort your baby if she’s a little bit fussy.
Again, you’ll want to start with your left hand under her bottom, your right hand supporting her head and neck. You’ll spin her around and bring her in, close to your chest like this.
Make sure you turn her head so that her airway is unobstructed and so that she can breathe well. She’ll be ableto hear your heartbeat hear and feel your body warmth and it’ll be a good comforting position for her. You can also move her up on to the lower part of your shoulder, continue to support that like his and this is a good position for burping.
The third hold I’d like to demonstrate for you today is called the football hold. This one is a favorite of dads everywhere. For what I think are obvious reasons but even if you’re a breastfeeding mother, this is a great way to hold your baby to put her in the perfect position for nursing.
So, what you’ll do is just start in the standard position again with your left hand on your baby’s bottom and your right hand under her head and neck to support her there. You’ll spin her bottom around placing her legs underneath your right arm, allow her back to rest on your right forearm like this and continue to support her head and neck with your right hand.
You can then let go with your left hand. You got a hand free and also if you’re breastfeeding, you just turn her face in and her body in a little bit towards you.
The next hold is known as a face-to-face hold, which is a great way to interact with your baby if she’s awake and alert. All you’ll need to do is, starting from this standard position with your left hand on your baby’s bottom, your right hand supporting your head and neck is just spin her around. Spin her around so that you’re face to face from here.
You can talk to your baby, you can sing to your baby, you can play with her, make faces and this is a great way to connect with your newborn.
Next, the belly hold. This is a great way to hold your infant in a secure position and give you hand free for burping. So, what you’re going to do is again starting in this standard position with your left hand on your baby’s bottom right hand under her head and neck, is rotate her around in that left hand supporting her head and neck the whole way. Place her on your left forearm making sure to turn her head so that her airway is unobstructed and then bring her up to this horizontal position and you have a perfect position for burping.
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People tend to get extremely triggered when you tell them they’re getting a useless degree and they want to know what the most useless degrees are.
I’m gonna go over what degrees you should absolutely avoid at all costs. But, before I trigger a few more people I just want to put a very very quick disclaimer out there that you should always follow your passion.
If your passion in life happens to be one of the degrees that I mention in this article, that’s totally fine. You should still follow your passion. All I’m saying is you should not go $50,000 in debt for a piece of paper. That’s not gonna benefit you at all and you will likely end up serving coffee to people and misspelling people’s names and you can still study the subjects you’re passionate about.
I mean top universities in the world offer all these classes for absolutely free. You just don’t get a degree from them and you can learn all you want, about all these different subjects for free, without spending any money, going into debt and if all this information is free from the top universities in the world, then why would you ever spend money on it?
First, psychology and the reason that I decided to include this on the list even though you can get a viable job, I mean you can become a social worker or something like that; the reason I decided to include this one is because it is one of the top five most popular majors. Even though it has really bad statistics and all of the important categories like job openings, job satisfaction, future growth potential, all of these things that are very important and I find psychology to be extremely interesting.
I can see why so many people like it but I don’t recommend actually majoring in it. It’s one where a lot of people fall into the trap of thinking that they can make money after graduating with this degree and then they end up five to maybe even six figures in debt and they can’t get a job.
Next is going to be drama and theater arts and you might be surprised that this one isn’t further down on the list because it does made fun of a lot. But, the reason I put this one further up is because it is actually kind of difficult to teach somebody how to act and all that sort of thing from a book.
It’s so hard to teach someone this particular skill from a book or even videos. That’s why I kept it towards the top of the list but that doesn’t change the fact that it’s still a pretty worthless degree that you are going to have a hard time getting a job from.
Next is going to be language studies and I’m probably gonna get a lot of flack for this one because there are some languages out there that you know if you learn and you get really good at you can make a lot of money as a translator but the reason I put this on the list is because you can easily learn a language by getting a video program or an audio program or actually moving to the country where this language is spoken, if you just spent those four years that you are studying the language and just move to the country that speaks those languages in those four years you would probably learn a lot more by doing that and you could get a job while you’re there and make money and this is the 21st century where you can go anywhere you want in the world and you don’t need to go fifty thousand dollars in debt just to learn a language.
There are certain languages that are more difficult in terms of writing and speaking than others. An example of this would be Mandarin or Cantonese because that is a very useful language. It’s something that’s going to be very useful to know in the next 50 years as business becomes more international but at the same time there are cheaper and probably better ways to learn the language than going to university and getting $50,000 in debt.
Next, is going to be communications and this one is actually kind of similar to psychology because it’s an extremely popular major that people tend to choose but don’t get this too confused because this major is clearly a even worse than psychology and it’s one of those majors that really makes you think like what do you even do with this major.
I mean it’s something that’s so broad that it becomes kind of useless like they might as well come out with like a life degree or a breathing degree or how to be a millennial degree or a how to smash that like button degree.
Next is going to be photography and this might be one of the most saturated fields on the entire list. We are witnessing a generation right now where basically everybody is a photographer and they all want to become Instagram famous so they can get that sweet influence or money then.
When that doesn’t work out, they decide to become an amateur photographer and you make the mistake of hiring them for your wedding and your pictures turn out like and the big point here is there’s so many resources online like Peter MacKinnon for instance on how to become a really good photographer and a lot of them are free or very cheap and you can get high-quality training and this is one of those skills where you really just have to practice in order to get better.
I mean learning about it in a classroom isn’t gonna help you out that much and getting a degree is not going to give you that much of an edge. You definitely do not need to spend five figures on this and one of my best friends actually moved to the country barely knowing any English. He taught himself photography and he became one of the top wedding photographers in Las Vegas within just a few years and he didn’t have to go to university for this. He didn’t have to buy some expensive course or going to debt for this.
He basically learned it all from free resources or very cheap resources and then he just practiced and once you get really good at a skill like this, you know it doesn’t matter what credentials you have next to your name. What really matters is your portfolio because that will speak for itself.
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It’s no secret that higher education in the United States comes at a premium these days with the cost of tuition inflating. It’s never been more important to choose a lucrative career. Those who choose wisely are rewarded with the generous salary while others are doomed to pay off student loans for decades from doctors to accountants.
We are counting the top highest paying college degrees. What is the average salary that a finance major can expect? At first glance, it doesn’t appear that the degree in finance is the ticket to a career with stellar pay. The average recipient of a BSc in finance takes in $60,000 a year. But, a few years in the industry makes a big difference; a financial planner’s median annual compensation is eighty-eight thousand eight hundred ninety dollars.
According to the US Bureau of Labor Statistics, what’s more employment within the field is expected to increase fifteen percent between 2016 and 2026 far outpacing most fields and after working in the field for more than a decade finance experts can expect to make well over $100,0000. The careers which a finance degree might prepare you for would include professions such as bond brokering, corporate finance, financial analysis, financial planning, underwriting, investment banking, venture capitalism and portfolio management.
Engineers are responsible for applying the principles of Science and Mathematics to create items used in daily life. Civil engineers design things such as buildings, homes, roads, tunnels, dance, airports, bridges and water and sewer systems. When designing these structures and systems, civil engineers must consider factors such as cost of materials, expected lifespan of the finished product and government regulations for safety because we all rely on the infrastructure provided by civil engineers. Their pay is remarkably high as of May 2016. The average salary of a civil engineer was eighty three thousand five hundred forty dollars annually.
According to the US Bureau of Labor Statistics, the lowest paid ten percent of civil engineers receive less than fifty three thousand four hundred seventy dollars while the highest paid ten percent earned more than 130 two thousand eight hundred eighty dollars per year. Given these figures, you have a 50% chance of earning between sixty-five thousand three hundred thirty dollars in one hundred seventy thousand one hundred forty dollars per year. Those are pretty good odds of making significantly more than $50,000 per year.
A mechanical engineer has a similar workload to a civil engineer with some slight differences. Mechanical engineers design machines, tools, engines and thermal systems for consumers and industry. Many also build the things they design and test them for durability or effectiveness. The most common tasks for a mechanical engineer generally require using a computer and special software. The median gross annual salary for mechanical engineers in 2018 is sixty five thousand nine hundred dollars.
1 1/2 of all mechanical engineers are in less than the median, and half earn more salaries range from sixty one thousand two hundred fifty to seventy one thousand four hundred dollars. The top 10% of mechanical engineers earned 76 thousand four hundred sixty two dollars, the bottom ten percent only earned fifty-seven thousand fifteen dollars. However, given five or more years of experience, engineers start making one hundred five thousand dollars a year.
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It the dawn of the 19th century, in a cellar in Mayfair, the most famous scientist of the time, Humphrey Davy built an extraordinary piece of electrical equipment; four metres wide, twice as long and containing stinking stacks of acid and metal. It had been created to pump out more electricity than had ever been possible before.
It was in fact the biggest battery the world had ever seen and with it Davy was about to propel us into a new age. That moment would take place at a lecture at the Royal Institution in front of hundreds of London’s great and good filled with anticipation. They packed the seats hoping to witness a new and exciting electrical wonder. But, what they would see that night with something truly unique; something they’d remember for the rest of their lives using just two simple carbon rods.
Humphrey Davy was about to unleash the true potential of electricity. Electricity is one of nature’s most awesome phenomena and the most powerful manifestation of its we ever see is lightning. This is the story of how we first dreamed of controlling this primal force of nature and how we would ultimately become its master. It’s a 300 year tale of dazzling leaps of imagination and extraordinary experiments.
It’s a story of maverick geniuses who used electricity to light our cities, to communicate across the seas and through the air to create modern industry and to give us the digital revolution.
It all started with a spark imagine. Our world without electricity, it will be darn cold and quiet in many ways. It will be like the beginning of the 18th century where how a story begins. This is the Royal Society in London in the early 1700s after years in the wilderness, Isaac Newton finally took control of it. After the death of his arch enemy Robert Hooke, Newton brought in his own people to the key; jobs to help shore up his new position the new head of demonstrations.
There was 35 year old Frances Hawkes be notes from the Royal Society in 1705 reveal how hard Hawks be tried to stamp his personality on its weekly meetings producing ever more spectacular experiments to impress his masters. In November, he came up with this, a rotating glass sphere; he was able to remove the air from inside it using a new machine; the air pump on his machine- a handle allowed him to spin the sphere. One by one, the tangles in the room will put out and France has placed his hand against the sphere. The audience were about to see something amazing.
Inside the glass sphere, a strange ethereal light began to form dancing around his hand; a light no one had ever seen before. That’s fantastic. It’s so beautiful; blue glows is marking out the shape of my hands but then doing right round the ball there’s something alive in there. It’s difficult to really understand why this dancing blue light meant so much. But, we have to be reminded at the time, natural phenomena like this was seemed to be the work of the Almighty.
This was still a period when even in Isaac Newton’s theory, God was constantly intervening in the conduct of the world and so it made sense for a lot of people to interpret natural phenomena as acts of God. So, when a mere mortal meddled with God’s work, it was almost beyond rational comprehension. Hawks never realized the full significance of his experiment; he lost interest in his glowing sphere and spent the last few years of his life building ever more spectacular experiments for Isaac Newton to test his other theories. He never realized that it unwittingly started an electrical revolution before Hawks be electricity had been merely a curiosity.
The ancient Greeks rubbed amber which they called electron to get small shocks and even Queen Elizabeth the first marveled at static electricity power to lift feathers but now Hawks machine could make electricity at the turn of a handle and you could see it and perhaps even more importantly his invention coincided with the birth of a new movement sweeping across Europe called the Enlightenment enlightened.
Intellectuals used reason to question the world and their legacy was radical politics, iconoclastic art and natural philosophy or science. But, ironically Hawkes new machine wasn’t immediately embraced by most of these intellectuals. Instead, by conjurer’s and street magicians and those with an interest in electricity called themselves electricians.
One story tells of a dinner party attended by an Austrian count, the electrician had placed some feathers on the table and then charged up a glass rod with a silk handkerchief. He then astonished the guests by lifting up the feathers with the rod, he then went on to charge himself up using one of Hawkes electrical machines and gave the guests electric shocks presumably to squeals of delight but for his ps2 resistance he placed a glass of cognac in the center of the table charged himself up again and lit it with a spark from the tip of his finger.
There was a trick called the electrical beatification in which the victim sits on an insulated chair and above his head hangs a metal crown that doesn’t quite touch his head and then if the crown is electrified, then you get an electric discharge around the crown that looks exactly like a halo which is why it’s called the electric beatification. As England in the rest of Europe whence electricity crazy, the spectacles grew bigger and the more curious electricians started to ask more profound questions; not only how can we make our shows bigger and better but how can we control this amazing power and for some can this incredible electrical fire do more than just entertain.
One of the first early breakthroughs would never have happened had it not been for a terrible accident. The Charterhouse in the center of London over the past 400 years, it’s been a charitable home for young orphans and elderly gentlemen and sometime in the 1720s, it also became home to one Steven Gray. Steven Gray had been a successful silk Daiya from Canterbury. He was used to seeing electric sparks leap from the silk and they fascinated him. Unfortunately, a crippling accident ended his career and left him destitute. But, then he was offered a new life here at Charterhouse and with it, the time to perform his own electrical experiments.
He built a wooden frame. From the top beam, he suspended two swings using silk rope, he also had a device like a hoax beam machine for generating static electricity. Now with a large audience in attendance, he got one of the orphan boys who lived here at Charterhouse to lie across the two swings. Gray placed some gold leaf in front of him. He then generated electricity and charged the boy through a connecting rod. Gold leaf, even feathers left to the boy’s fingers. Some of the audience claimed they could even see sparks flying out from his fingertips.
But, to the curious and inquiring mind of Stephen Gray, this said something else as well. Electricity could move from the machine to the boy’s body through to his hands but the silk rope stopped it dead. It meant the mysterious electrical fluid could flow through some things but not through others.It led Gray to divide the world into two different kinds of substances. He called them insulators and conductors.
Insulators held electric charge within them and wouldn’t let it move like the silk or hair glass and resin whereas conductors allowed electricity to flow through them like the boy or metals. It’s a distinction which is still crucial even today. Just think of these electric pylons, they work on the same principle that Gray used.
Nearly 300 years ago, the wires are conductors the glass and ceramic objects between the wire and the metal of the pylon are insulators that stop the electricity leaking from the wires into the pylon and down to the earth. They’re just like the silk ropes in Gray’s experiment. Back in the 1730’s, Grey’s experiment may have astounded all who saw it but it had a frustrating drawback try as he might. Grey couldn’t contain the electricity he was generating for long. It left from the machine to the boy and was quickly gone.
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Insurance is a very old industry. It is actually diluted into culture. If we go back to the days of the tribes, there would always be a tribe and some people in the tribe would be hunters. In some of the tribes, people would be blacksmith, some of them would be farmers, some of them would be Goldsmiths.
They would all have different roles. But, there would always be a head of the tribe and the purpose of the head of the tribe was to ensure that the entire tribe was safe, secured, protected, satisfied, happy. If any person in the tribe, ever got you out, the whole tribe would work together to make sure that the family of the hunter would be protected. That was the reason why everyone went to do tribes.
That was a concept of community. When tribes became bigger, they moved into cities, they became kingdoms. The King used to play that role. He would have a Treasury that wouldn’t show that his entire population was protected, the soldiers were protected when they went to war, the families were protected in case the soldiers didn’t come back.
That road became more and more important. It came to a point where the society became so big, that the government couldn’t control all these things and there was a lot of inefficiencies. So, they went on to privatize these enterprises and one of these enterprises was insurance.
If any part of any member of the community passed away, fell sick, the community would work together to make sure that they are protected and that’s the job of insurance.
Insurance is a small amount of money that is given to the community and there’s what we call a risk and the money is collected in that pool of money. That pool is then used to pay out if anyone falls sick, if they pass away, when they retire, when the kids go to college, that pool is used to pay those monies out. The insurance company’s job is to protect that pool because there are a lot of people who were trying to defraud so they would find a way to make money from that pool rather than understand that inglis for the whole community. But, that’s what insurance does.
Insurance is a manager of that pool of money which gets used to pay out to people who need it. But, there are people out there that try to defraud that. That’s where investigation company will investigate claims that they feel are not genuine and that’s why the most important thing when it comes to insurance is understanding the documentation, understanding what is covered, what is not covered and trying to sit down with a proper financial advisor or intergenerational planner that will be able to guide you on what type of insurance you should buy.
So, the, insurance industry is not a very complicated industry. But, is not a very simple industry because it has evolved over a few thousand years now. But understanding, that is where the key is.
Insurance is a business that is based only on one thing. They are on time to make sure that you cover for eventualities and there are four primary eventualities that you should become.
1.In case you pass away, the family’s needs, income, protection
2. In case you fall ill, the family needs, income, protection
3. When you retire, you want to make sure that you have a steady flow of income
4.When your kids go to college, you might as well have some money on the side because you will need to pay for it
These are the four primary things that the pool of money is used for. There are other variables to it. There are other types of insurance like medical insurance, car insurance, travel insurance. These are what we call non-life insurance ‘as these insurance policies work on the same principles.
But, the only difference is the probability changes. So, the premium that you pay is the probability of something going wrong. If your premium is higher, it means you have a higher probability of something going wrong.
Some clients who have for example diabetes or they have high blood pressure the question they ask is why is my premium higher. The probability of you falling sick is also higher and that’s why your premium is higher. So, it’s always based on the probability of something going wrong and that’s the basics of how an insurance policy varies.
So, if you do have questions sit down with a two-generation planner or financial advisor and get yourself more details. The insurance industry is here to protect you and that’s what we do best.
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In every area of your business remember the universe words. ” The boat people are still buying cash value life insurance” 80% of all life insurance that is sold right now is cash value life insurance because nobody knows any better.
The first thing I want you to do if you meet somebody that has cash value life insurance, I want you to do this little exercise with them. First, show them how a Bank and a lot of you know in your presentation it’s right there and all your stuff that you can talk about. You all know what bank is.
In America 8 out of 100 people own banking and over 220 million people it’s probably close to 300 million people by now. I’ve been saying 220 for so many years right and so 220 million people own cash value life insurance.
So, if you were an agent, you could have $300,000 worth of life insurance would you rather pay twenty three hundred dollars a year and for the life insurance or would you rather pay $1,300?
For the light picture, you’d rather pay 1300. Think about the, if you die your family gets $300,000 of life insurance. That’s it. They get. That’s what they get if you die. Would you rather pay twenty to thirty twenty three hundred or thirteen hundred?
Every time, it’s thirty nine or every single time, there’s not one client in 20 years that has ever said any different. It’s real. It’s really simple. You ask that question and you let them know that the only reason why people have banking because obviously banking pretty bad. It is because of the compensation package that cash value, life insurance agents that the way that they get paid.
If you are an agent and you made one hundred percent, of the first years commissions, as your commission would you rather sell the client the one that was twenty three hundred or thirteen hundred, twenty three hundred?
If the client doesn’t know any better, you’d sell them the 2300. It’s filled. Three hundred thousand worth of life insurance, but you’re gonna sell on the higher priced product because you make one hundred percent of the first year’s commissions. You make that as your commission.
So, that is why mister missus client, that’s why the bank is the number one savings account. That’s why eight out of ten people own it. That’s why two hundred and twenty people million people own cash value life insurance.
So, if you can share this with the client and get them to understand that the product that they just bought was not sold to them because it made more financial sense. It was sold to them because that they were going to earn more commissions.
Once the client can see that and visualize that fact, writing the sale becomes a lot easier and of course here’s the rule of 72. It will always go through at one point.
I’ll go through the rule of 72. The only reason why I’m doing this is because I want to make sure that the client understands that there’s a major difference between 3% interest and 12% interest. A matter of fact, there’s a difference between getting 40,0000 dollars in 48 years and in 42 years.
Getting 1.2 million dollars, that’s the difference between a 3% rate of return and a 12 percent rate of return. If they can understand that, then when you explain Plan A or Bank a, we call it when you explain this it’ll make a little bit more sense to them.
On average you get zero to five percent interest on your savings, six to eight percent fee to withdraw your money, six months to defer your money, so if you ever need your money you gotta let me know six months in advance for me to give you that money. I can withhold that money up to six month, they keep all your first years deposit.
So, if you give me $1,000 that first year or $10,000 that first year, the bank is gonna keep that money 100 percent of those first years deposit and lastly if you die so your family doesn’t have to fight over the money. Stay tuned with Zeeable for more updates
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This is a really good way to charge your Apple watch.
The problem with the original Apple charger is, it comes with a very long cable and that’s fine if you’re in a fixed environment. So, for instance, I’ve got mine on a table and I’ve got it inside this wooden thing and it all wraps around and so therefore to take it anywhere with me, I end up taking the wooden thing.
So, some tech companies have come up with a solution and it’s this, which is a just a straightforward USB charger and I think it really does a good job.
Sometimes, a problem gets fixed which didn’t exist in the first place. But, this is definitely a solution to a problem that a lot of people have, that want to charge on the go and that means that it can be completely portable.
You can see here, the magnetic grip is so strong, it will even hold it upside down but this is great for wherever you are now.
The Apple watch’s battery life is not particularly good. So, you can literally just plug it into here and have it sat on and then you can get the charge.
It will charge it in exactly the same amount of time as the original Apple watch. The other benefits of this is that if you want to, if you’re on the move, for instance and you’ve got your computer with you or a power bank, then you can use that as well. It doesn’t have to be a mains charger, so you can literally just attach this USB device into the side of your computer and again just put your Apple watch on top and the charging will begin immediately.
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If you don’t know what you’re doing with your money, your bank can skin you alive with credit cards and overdraft fees and lines of credit within a blink of an eye. Banks pay you almost nothing to use your money because if you take your money out and you put it in your savings account, your money doesn’t just sit there.
The bank takes your money and then they lend it out. This way, the bank can make money on your money and then if you happen to miss a credit card payment, the bank is gonna charge you an arm and a leg.
Entrepreneurs need to learn how to start a business without going into debt.
For example, a lady who was sick and tired of her job, decided to start a business. This lady likes animals and so she decided she was going to enter the pet grooming business, you know where they give her dogs a bath and they trimmed their hair and stuff like that. People loved their pets more than their kids nowadays. So, not a bad idea for a business.
She found a cat and dog grooming business and she was in contract to buy it for $70,000, she didn’t have $70,000 laying around, so she decided to get a loan to finance her business idea. She’s financing something that will give her income. That’s what the lady was thinking – this is good debt right because now you’re gonna buy this business and then the business will pay you money and it’ll cover your loan payment and it will put some money in your pocket. The problem was this lady did not have any clue of what she was buying, what exactly is the $70,000 buying you. There’s no real estate involved because this business leases its retail space so what exactly is this $70,000 for?
You have less than five thousand dollars worth of actual equipment meaning the other sixty five thousand dollars is goodwill. In other words, sixty five thousand dollars out of the 70 thousand dollar purchase price is what you are paying for the brand’s reputation and their brand name and their customer list. This isn’t necessarily a bad thing by itself, for one the sales agreement to sell this pet grooming business included no non-compete clause; so the person selling their pet grooming business could next week open up a new pet grooming business right across the street.
There was nothing stopping them from doing that and second and even worse the business was losing money. This lady was willing to take out a loan to finance the premium for this business which was not even profitable right now. The way that the pet grooming business works according to the financial statement is that the owner works in the business full-time and after paying for all the businesses expenses, the owner takes whatever’s left over at the end of each month and they pocketed.
The only problem is the owner is not factoring in a salary for the time that they’re putting into the business. So, they’re working full-time and they’re not paying themselves anything. If you own the business you work at, you have to factor in some sort of salary for the time that you put into the business and then whatever’s left in the business after you pay yourself is the business’s profit. So, there is a difference between your salary as a worker in the business and your profit as the business owner. You have to understand that these two things are separate anyways.
Going back to the lady who wanted to buy this pet grooming business, the bank manager then reran the lady’s numbers and he included a small salary for the lady to pay herself with and now after paying for the businesses expenses and after paying for the loan, the business was losing money every single month and so this lady would have to put money out of her own pocket to continue running the business every single month. But, the story gets even crazier.
The craziest part is that this lady was approved for her loan. So, this lady found an unprofitable business with negative cash flow but no real assets because there’s no real estate involved and nothing proprietary and she was approved for a loan. Things like this are not uncommon.
So, here’s what I want you to know about debt, when it comes to your business. Debt can be used strategically to make you more money if you’re buying something with income that will cover your debt and all your expenses and put some money in your pocket but you have to understand the game in business. Nothing is guaranteed especially when you’re starting off and especially if you don’t know what you’re doing. But, if you get a loan to finance your business, then one thing is a for-sure guarantee you will have to make loan payments on your new loan, every single month whether or not your business is making money and then lots of people make the argument that interest rates are low, so debt is cheap, so you should take advantage of this, which sure makes sense. But, if you don’t know what you’re doing, financing a bad business decision to turn your bad decision into a financially draining or killing decision.
Most businesses can be started with little money. If you have the right mind strapped, you have to learn how to bootstrap and how to figure out how to make things work, when you have no money. That way you can manage your business much better. When you have a lot of money, otherwise you start to live this glamorous entrepreneur lifestyle where you have to buy all these nice toys for your new top-of-the-line office and you have a whole bunch of employees running around trying to figure out what to do. So, you have all these expenses to pay. So, you can live this cool entrepreneur lifestyle but you have no income coming in.
Work your way up, find a way to make it happen from wherever you are. That’s what entrepreneurs do.
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