Archive for June 2011
Is Gold Still a Good Investment
In times of economic instability, many investors ask the question, is now a good time to invest in gold? While gold has proven to be an attractive asset throughout the centuries, its exact role in an investment portfolio may vary considerably. You must know the ins and outs of how to invest in gold to avoid the common pitfalls and maximize the returns.
Why is gold a good investment?
Traditionally, gold has been regarded as an indispensable part of an investor’s portfolio. The answer to is gold still a good investment varies according to the purpose of your investment. If you are a speculator or an investor aiming at playing the market, you have to be careful about investing in gold. On the other hand, if you are primarily interested in saving, gold can be the most viable option.
Throughout the ages, gold has been regarded as the universal store of value. It is highly stable. The value of gold does not depend on issuers promise to pay. It is largely protected from the unpredictable fluctuations in the market. Possessing actual gold bullion is regarded as one of the safest and best investments. It is not a paper asset whose value can become zero with some economic and geopolitical change. No government can suddenly confiscate actual gold. Hence, gold is the traditional refuge during any ‘flight to quality’.
Gold is regarded by investors as the best hedge against inflation and the falling value of currencies. As prices of goods and services rise, the value of paper money falls. In this situation, gold is the only thing whose value was found to be stable. In simple terms, while you require more paper money to buy the same number of goods as before, you need the same or even less quantities of gold to buy that amount of goods than before.
Research has shown that people who brought Euros to safeguard against the falling value of dollars got a return of 47% on their investment while those who bought gold got 131% return on their investment.
There is one unique characteristic of the gold market which sets it apart from the other commodities of investment. The supply of gold is very inelastic while the demand shows wide fluctuation. The major gold producing nations of the world has seen the gold production to stagnate or fall. At the same time, the economic boom in the developing countries has driven up the demand for gold. The investments in gold have thus resulted in positive returns.
However, one needs to be careful of frauds while investing in gold. You can be sold shares in non-existent gold mines or counterfeit coins. You should also be wary of little known companies that buy gold for cash as some of them have been found to be money laundering mechanisms.
If you are still confused about how to invest in gold, you should know that gold must form a part of a portfolio because it imparts stability and growth. But it is best not to put too much of the investment in the form of gold. A share of 10% or less is recommended. To find out more about how to invest and the various options click the link to visit my website.
Reasons Why It Is Hard to Find a Job
In the recent years, the job market has become quite tricky for job seekers. It is now very hard to find a job even for the qualified people. This situation is very hard to understand especially for those who have grovelled the four years in college only to find that getting a job is almost impossible. Below are a number of common reasons on why many find it hard to find a job.
Flooding of Resumes
Most of the companies get job applications on a daily basis even when they have not posted any vacancies. This is usually from recent graduates as well as those unhappy at their present postings. The resurgence in internet use has made it easier for people to access company websites as well as upload their applications. With so many applications flowing in, getting a job can be quite hard and frustrating because the odds are not on your favor.
Present Employee Referrals
Most states employ an equal opportunity policy to both the government and private companies. This means that they are required by law to publicly advertise vacancies in their companies. However in most of the cases, the senior management have already recognized an internal employee who is fit for the position. They only advertise because they are required to do so, but not because they seek a replacement externally. If you are applying externally your chances are very slim when you are placed side by side with an internal applicant. The employee takes primacy since the employer seeks to reduce risks as well as avoid costs associated with breaking in a new employee.
Evolution of the Hiring Process
Gone are the days when the applying for a job involved sending a resume and certificate copies through snail mail, then you are called up via phone for an interview and you get the job. Nowadays, hiring process has become quite complex. Most companies outsource the hiring to external companies who have specialized in elimination of applicants for minor reasons. They employ complex filtering tools that quickly skim through the applicants and sieve out those that do not qualify. It makes it hard to find a job since the parameters they use are very many and complex, and though qualified, getting the right mix of just what the company needs is very hard.
Most people find it hard to find a job just because they do not take time to understand what exactly the company requires including the latest hiring trends, as well as other factors that go into hiring staff. Most companies are now employing sites such as Facebook and LinkedIn to get information about prospective employees. Many people think that this does not feature in the more serious sides of their lives therefore update negative stuff about themselves just for fun. Nowadays, employers factor your social network behavior in judging your character. All these means that if you seek out to apply and get a job, be focused and serious in all aspects of your life and this will go a long way in increasing your odds.
Small Business in 20 Years
The S.M.A.R.T SME of the Future
We have SMART Grids, SMART Phones, SMART cars…so why not SMART SME’s? Not that SME owners and their businesses aren’t smart operators now, they have to be to stay alive in this fast-paced, roller-coast of an economic ride. But if I may take a bit of creative license I’ll show you what I mean.
Svelte – Traditional overheads will be a thing of the past. Fewer businesses will have a “shopfront”or a traditional workforce which comes to a common business location. Cloud computing and other inventions will enable businesses to self-service their IT, telecommunications, inventory, book-keeping and other operational needs “virtually”. And these services will be “cheap as chips” & upgraded regularly.
Mobile – and I mean this more as an adjective, not as a phone or a children’s toy. SME’s will be adaptable, flexible, able to utilise multi-channels for your business operations. Whether it’s a text message to buy or sell things and a franchised “pick-up parlour” to take delivery – supply chains will now be “mixed-use”.
Attentive – A few things will probably stay the same – particularly when it comes to human behaviours. For example, customers will continue to seek a better quality of life and SME’s will continue to try to deliver as personalised a service as they can, while still being profitable.
But for SME’s of the future, delivering a personalised service will be a lot easier. The world is already amazingly inter-connected, traceable….disectable.And this connectivity and the resulting flood of data will only get greater.
But just like the “commoditisation” of high-tech support services we are currently seeing, data analysis will become more affordable and become an automatic part of your business – just like a phone number is today.
Responsible – It will be legally, as well as morally, mandated, that all businesses will need to report against a triple-bottom line. Costs and profits will now be directly linked to a businesses’ ability to be socially responsible, including of course environmentally responsible.
Many businesses will take this to the full extent of logic and develop “closed-loop” life-cycles, where the waste or byproducts of one production process is fully-utilised by another process – either their own or someone elses.
Technological – And last but not least, technology will be all pervasive in the SME of the future; 24/7, 365 days a year, in any language, anywhere in the world,. Technology will help reduce costs, manage supply chains, generate sales, manage customer relationships, support new workforce arrangements, facilitate conversations with the SME’s broader community, stimulate new product designs or service innovations, knowledge sharing or problem resolution.
In short, the powerful combination of readily available data and readily available technologies will deliver a SMART SME limited only by their imagination…(and cash of course!)
Kylie is the Executive Director for International Markets & Trade for the New South Wales (NSW) Government. NSW is Australia’s largest State and its capital is Sydney, Australia. Her Department helps foreign investors to set-up in NSW and helps local companies export to the world.
For more information on these services go to http://www.business.nsw.gov.au.
To connect with Kylie, please visit her LinkedIn profile at; http://au.linkedin.com/pub/kylie-hargreaves/3/b75/746
Becoming an Entrepreneur – How to Turn a Hobby Into a Business
Hobbies are wonderful avenues to add some fun and excitement to your life, as well as to relieve stress. Many people have successfully turned their hobbies into a profitable business that they enjoy on a daily basis. Turning a hobby into a business is one of the most exciting and fulfilling things to do on the path to becoming an entrepreneur. After all, doing what you are passionate about for a career is the best kind of career to have. That is the true essence of being an entrepreneur.
Do you love teaching? If so, consider holding educational seminars or online webinars. Do you spend every evening working on your antique cars? If so, maybe you could turn that passion into a business where you fix up vehicles and flip them. Love working on the computer and being on social media? Perhaps you could start a company that helps others improve their online presence through social media. There are numerous opportunities for you to turn your passions into a career that fulfills you.
Do your research.
If you have a hobby that you are thinking about turning into a business, the first thing you will need to do is research the market to see if people will be interested in purchasing your product or service. Check to see if there is a demand in the marketplace for the type of business you are creating. After checking the demand, verify to see if there are already successful businesses in that niche and if so, take some time to research them. You can also ask your family and friends if they would be interested in your type of business and ask them for input. The Internet has tons of information in this area, so be sure to take advantage of it.
Identify the Dream, Vision, Purpose, and Mission
The next step in turning your hobby into a business is to take the time to identify the dream, vision, purpose, and mission for your business. Often times, these 4 criteria are the most overlooked. However, they are the most important as they are the heart and soul of any company that is created. Correctly identify these 4 criteria and not only will your business mean the world to you, but it will positively impact and help your employees, vendors, and the world understand that your company was created not only to make a profit, but to benefit the world in a positive way.
Don’t quit your day job.
Beginning your own business can be risky when it comes to finances, so it is advisable that you begin part-time and don’t quit your day job until you are positive that your income from your business is stable and sufficient. It may take some time to market and get your business booming, so don’t become discouraged if things don’t take off right away.
Educate yourself.
Being an entrepreneur can be very rewarding. Inspire and motivate yourself by reading about other entrepreneurs who are successful and educate yourself on the ins and outs of owning your own business. Surround yourself with mentors who have been where you want to be. The more time you invest learning about business, marketing, and entrepreneurship, the more likely you are to succeed.
Stay positive.
Turning your hobby into a business ought to be a fun and rewarding project. It is important that you choose something that you truly love so that you can maintain the energy and enthusiasm throughout the entire process. Enjoy the journey as it unfolds. As the saying goes, “Rome was not built in a day,” neither are businesses. It takes time, dedication, patience, and perseverance to turn your hobby into a career. Enjoy the journey.
And to get your Free Instant Access to many more powerful tips on growing your business, you are invited to visit my Blog Page at http://www.EntrepreneurSuccessPrinciples.com/
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From Edmund Lee and EntrepreneurSuccessPrinciples.com