An Online Economics Degree Rocks

Economics is a social science that studies the consumption, distribution, and production of goods and services. The individuals who assist in the financial planning of organizations, interpret economic trends, make long-term and short-term economic forecasts, provide risk assessments, and. track them in the market are referred to as Economists. Many of these economists work in education and research, as well as for government agencies or in the private consulting arena.

The large variety of Economics Degrees online will oftentimes range from the broad-focused Associates and Bachelors Degree to the more specialized Masters Degree programs. Areas such as corporate finance, international economics, and risk assessment are some of the more specialized fields of study where the Masters programs are concerned. A bachelor’s degree in economics is the best foundation for graduate studies in business, finance, law, or management.

Benefits of Earning an Economics Online Degree

Aside from convenience, flexibility in scheduling, and cost-effectiveness, getting your Economics Degree online is beneficial in so many other ways. First of all, there is no commuting, parking hassles, and overcrowded classrooms to deal with. You earn your degree in the comfort of you own home. If you’re a single mom, you save on childcare costs because you are going to school at home.

Learning resources are readily accessible when you are earning an Economics online degree and you are able to learn at the pace you set, not an instructor’s. Additionally, if there are certain disability issues, these are relegated to the status of non-factor when you are earning your Economics degree online. Accredited online college degrees are a great equalizer because you are able to work with your fellow classmates without any regard for appearance, ethnicity, race, sex, or other possible prejudices.

Most importantly, when you earn your Economics Degree online, whether it is the basic degree or you are furthering your education in the field, it enables you to advance your career and can ultimately lead to an increase in your annual salary. Additionally, getting a degree online broadens your perspective considering that you may be interacting with students all around the world while engaged in your education.

Top-Rated Economics Degrees Online

Online degrees in economics will vary depending on the focus and level of the degree program that you’ve chosen to undertake. The higher up the degree ladder you climb, the more specialized the focus becomes. Listed below are the six most common Economics online degrees that students are currently enrolling in:

Associate in Arts in Economics
BA/Social Science – Economics
Bachelor of Science in Economic – Crime Investigation
BS in Business – Economics
Master of Science in Economic – Crime Management
Doctoral Program in Economics

There are dozens of other curriculum available where earning your Economics Degree online is concerned, but these are at the top of the list for the most sought after degrees online in the field of Economics. For more information and other degree possibilities, you should investigate the degree programs offered at the many online accredited degree programs to see what is available.

Video Production Business Tips – Surviving Economic Downturns and Thriving in the Upswings

When business is slow, people often blame it on “the economy.” When I was younger, I used to think this was a load of crap. How can “the economy” be directly responsible for why my clients aren’t hiring us for more video projects?

How can “the economy” be responsible for ME losing contract opportunities? Well, after years of fighting tooth and nail to have a successful video production business, I can tell you that even though I still don’t understand exactly how it works, the state of “the economy” definitely impacts my business.

In this article, I’ll attempt to give you a quick lesson on how, why, and what you can do to weather the storms.

I had an interesting conversation with a client about how the high price of oil impacts his business. He owns a multi-million dollar plastics manufacturing company (I mean MULTI-MILLION dollar business!)

This guy is big time and I’m doing everything I can to quickly learn how to replicate his success. The odds are good that I won’t reach that level with my video production business, but perhaps the collective efforts of all my business endeavors will resemble an inkling of what he has accomplished some day.

In a moment of ignorance, I asked him why the price of oil was making such a difference to his profit margins and he proceeded to instruct me in Business Economics 101. He mass produces products like medical waste trash bags, bags designed to keep frozen foods fresh for so many weeks/months, the liners of helium balloons, etc. which are made from plastic raw materials. These plastic raw materials are derived from oil.

Since oil is a lot more expensive these days, his raw materials cost a lot more which means that in order to maintain profit margins, he has to raise prices. Well, this isn’t fairing well because he has been successful due to his reputation of being the best quality at the lowest price.

Now that he is having to raise his prices, he is merely the best quality at an average price. Part of his frustration is that his competitors aren’t raising their prices to protect their margins. Instead, they are consciously losing money by keeping their prices the same.

So, as of right now, he can either join his competitors by not raising his prices and lose money or he can raise his prices to protect his profit margins but get less volume.

At this point in the conversation, I realized that I was running late for another meeting so we broke it off and I hauled tail out of there. Regardless of what he decides, I’m sure it will be a decision that continues to make him wealthier down the road. He didn’t get where he is by not understanding how to maneuver through good and bad economies.

So, how does the example I gave above regarding economic downturn impact us as videographers?

It’s pretty simple. Let’s say that this plastics manufacturer was a client of yours. If the high price of oil is leading him to raise prices which results in less sales volume, then it’s safe to assume that he will tighten up the purse strings when it comes to the “nice to have” services (videos, websites, breakfast in the middle of the Serengeti with 50 armed guards to keep the animals away… true story) and will only spend money on the “must have” services (raw materials, paper, pens, maintenance on his machines, etc.)

If he is a customer that does repeat business with you but hasn’t called in a while, this is most likely the reason. Or, if you submitted a proposal a few weeks/months ago and he hasn’t responded, this again could be the problem.

You have to keep in mind that when a business owner (or decision maker) is in survival mode, they aren’t thinking about anything else but how to get through this economic downturn. They know that if they can just get through the storm, great things will be on the other side when the economy bounces back.

As a service provider, YOU MUST RESPECT THIS! To not will result in extreme frustration for both you and the client/prospect. Plus, your client/prospect is giving you signs that the economic downturn is coming your way as well. If high oil prices impacts your clients’ profit, they won’t have extra money to spend on your services, which, you guessed it, means that you too will soon face a crisis.

So now that you’ve “seen on the news that the hurricane is coming,” what do you do?

You start boarding up your house and potentially think about leaving town.

I’m not suggesting you leave town but you should definitely start thinking about how you will weather the economic storm that will soon hit you like a ton of bricks.

What are your options?

My experience has been that when a client/prospect is facing a cash shortage due to an economic downturn, there isn’t any type of incentive that will result in them signing a video production contract.

They “freeze” their spending on anything that isn’t directly related to the operations of their business. So, you will feel like a hamster spinning the wheel without getting anywhere if you attempt to find a way to get your client/prospect to move forward with a project during this time. Embrace this fact and start collecting nuts… it’s going to be a long winter!

When your clients/prospects stop purchasing the “nice to haves” and only focus on the “must haves,” YOU MUST FOLLOW SUIT IMMEDIATELY! Put off the software upgrade or the expensive trip to the big industry conference you love to attend each year.

This is also the time to put off personal vacations and the kitchen renovation. If you don’t preserve your cash, you will be caught in the worst part of the storm without a lot of options for survival.

When the economy is bad, banks don’t like to lend money to people who actually need it and since you will be going to them because you are out of cash, they won’t consider you a good risk. It’s a messed up system but learning to embrace it will result in a healthier life and a more successful video production business.

It will be difficult to do this in the middle of a bad economy but a few ways you can help to off-set some of the impact include:

1. Focus your marketing efforts on industries that aren’t impacted as heavily when the economy is experiencing a downturn.

Some of these industries include health care (people are going to be sick no matter what the economy is doing), higher education (people go to college no matter what the economy is doing), local/state/federal government (the only entities that seem to not be impacted at all by the economy), and church ministries (the larger churches I work with seem to always have cash tucked away no matter what’s going on the business world).

These industries won’t necessarily thrive in a bad economy but they fare better than most which means you won’t be bone dry when the usual corporate clients close their checkbooks.

2. Find ways to improve your cash flow when the economy is good.

This is when banks will loan money or refinance loans for ANYONE! Use this to your advantage to reduce your monthly payments on equipment, vehicles, etc. And remember not to take on any unnecessary expenses that will either eat a large portion of your cash or will tie you in to monthly payments. You’ll need the cash when the economy gets bad and you won’t want extra monthly payments when your revenue drops.

3. Make hay while the sun is shining!

I know this is a cliche and one I’ve used in other articles, but, it’s true in this case as well. When the economy is great and people are buying things left and right, you MUST SELL LIKE THERE IS NO TOMORROW!

I’m serious. Spend all day marketing/selling and produce the videos at night or on weekends. Or, relax your client’s delivery expectations when possible so you can spend more time selling when everyone is buying.

4. Then, when you have a stack of cash and are trying to figure out how you want to spend it… REMEMBER… another storm will be coming soon!

Always has and always will. You can’t deny it. To do so will spell disaster for your video production business.

In conclusion, the economy is a force that is much stronger than you, me and even the largest businesses in the world. In order to make it through the downturns, you must do everything you can to prepare for them when the economy is strong.

Sell more, spend less and make smart financial decisions when it comes to refinancing your long-term and short-term loans. Eventually, the positive things you do in great economies will outrun the worst that bad economies can dish out. This is when your video production business gets stronger and you start to experience true wealth.

As for my client, his personal wealth is already far greater than the value of his multi-million dollar business. So, in reality, it doesn’t matter what happens during this particular economic downturn.

In the worst possible case, his business shuts down for a few months (with all employees continuing to receive paychecks) while he goes on a few lavish vacations. Then, when the economy bounces back, he turns the lights back on and they go back to being the best-quality/lowest price provider of plastics products that will continue to make him millions of dollars each year.

Wouldn’t we all like a piece of that action?

Profit From New Economic Data

The new economic report is good news for small business.

The National Association for Business Economics released a new report indicating that America’s economic is continuing to recover. This is great news, especially considering recent uncertainties.

Here are the basic numbers.

– 31% of businesses increased their number of workers in the past quarter.
– 39% of businesses plan to increase workers over the next 2 quarters.
– 50% fewer companies reported layoffs during the past quarter compared with the same period a year ago.
– 52% of companies reported increased demand for goods and services resulting in improved sales.

But not all the news is good.

– The stock market continues to be unstable as it absorbs and interprets new regulations.
– The housing market and real estate in general continue to be sluggish.

This information is not just academic. There are clues here indicating how to best invest you time and money to take advantage of changes in the economic climate.

First, the stock market is a poor place for your money. This is no surprise to anyone who has lost half of their retirement investment in stocks or mutual funds. Unless you are a very adept trader who can capitalize on market volatility, the stock market should be avoided. But don’t confuse the ups and downs of the market as an indicator of how the economy is doing. The stock market is largely driven by emotion and speculation. Economic data may fuel the emotion, but the market will almost always over react, then over correct. So if the market falls 2000 points, it is not an indicator that the economy has collapsed any more than its 2000 point climb late last year indicated that the economy was completely healed.

Second, real estate is not where you should invest – yet. Some apparent relief earlier this year was largely due to government programs that have expired. Now, foreclosures are continuing to climb, and there are fewer new home starts. Real estate will likely bottom out in a year or two, but recovery is likely to be slow as the huge foreclosure inventory is absorbed by the marketplace.

So where is the right place to invest? Consider new business investment. As the economy strengthens, companies will be hiring employees and contracting new service agreements. The technology and business services sectors are likely to recover at a faster rate than the overall economy.

Express Employment, a franchised employment services company, reported an all-time record for weekly sales volume in June.

Intel reported increased sales for server chips, an indicator that US businesses are spending money on improved technology. They are also predicting a 20% improvement in PC sales, largely driven by companies increasing workers.

The BNZ index, an index of the business services industry, rose 2.2 points in May (most recent data available). This indicates continued expansion in the business services industry.

So if you are considering starting a new business, or just looking for a place to invest your money, business services is worth a close look. Besides employment services and technology, consider starting a business that focuses on consulting, marketing, supply management, sales training, and facilities management and maintenance.

If you are nervous about venturing into entrepreneurism, there are franchises that will assist you in setting up your own business in each of these sectors. A franchise will also provide your new startup with an established name and 50 year reputation. These are big plusses when approaching businesses for new business. Also, each franchise has developed a proven success formula that can be verified by you during your investigation and validation period.

However you approach your investment, it is time to quit worrying about the future and start creating your future. The tide is rising. Catch the wave.

The Importance of Reading Economic Articles

This is one way of informing yourself on how the economy is fairing. There are many places where you can read articles from and they include newspapers, business journals and the internet. The reason for this is for you to be informed and be able get a good perspective on the economy. Articles will enable you make informed decisions like on whether it’s the right time to buy or sell shares on the stock exchange, get into real estate business when it is on the upward trajectory and even new job openings that are coming up if you are looking for one or you want to quit your current job

Don’t be left behind by time when you can be informed by reading articles every once in a while, even if you do not like reading any thing in particular. This will enable you to have an understanding of what is going on economically that can affect you in a positive or negative way. Information in these modern times is what makes people competitive since the more you know the better.

Get into the habit of reading Articles to give you an edge over your peers. Be it in investing, understanding the new trends in business or equipping yourself with new skills that are needed by an emerging industry or sector. For businessmen and women, it is imperative that you always read economic articles. The reason being in business you need to be informed in order to be at the top of your game and ahead of the competition and can be able to create a niche for your business.

Economic articles information will be useful to your business in a couple of ways. One of them is getting information when the government has lowered lending rates to banks, translating to banks lowering their lending rates for you to get a loan at a competitive rate to expand your business or to give a life line to your business to meet your operational expenses before things start looking up in this times of recession. The knowledge you can get by reading these articles will take you to a completely new level as far as business and the economy in general is concerned.

Usually in these articles, you will get economic professionals giving you a break down on different issues afflicting the economy and how this will affect you and me be it on the short term or long-term basis. With the way things are right now globally with uncertainty every where from Europe, Asia and the United States, being informed by reading economic articles is the best way of having that small leverage that every one is looking for.

The economy is growing at a slow rate globally and for it to pick up it will take time. Economic experts say it will take time for the economy to recover. If you read economic articles, you will know this and you will surely know when the tide is changing in your favor or not.

Economic Disadvantage

To qualify for participation in the 8(a) Business Development Program, a business must first meet SBA’s Size Standards, prove Social Disadvantage and prove Economic Disadvantage. In another article I cover where to go to find the size standards for your business and the reason for those standards.

In my experience, I’ve found that small business owners fall distinctly into one of two camps:

1. They have lots of income and assets and we are reviewing the tax returns and personal financial statement with a fine-toothed comb to ensure they are economically disadvantaged, or

2. They have no problem at all proving themselves economically disadvantaged because they withdrew retirement funds, drained savings accounts and borrowed home equity to get the business started and to keep it running.

It is this second camp that I’ll be addressing today. The reason is because there is a fine line between proving economic disadvantage and proving the “potential for success” that is the basis for approval for any business to be considered into the 8(a) Business Development Program.

With the February 11, revisions that went into effect on March 14, 2011, there are now objective criteria to determine economic disadvantage based on personal income and total assets. Those criteria are:

* Adjusted Net Worth – must not exceed $250,000 for initial eligibility or $750,000 for continued eligibility
* Personal Income – must not exceed $250,000 (averaged over three years) for initial eligibility or $350,000 for continued eligibility
* Total Assets – must not exceed $4MM for initial eligibility and $6MM for continued eligibility, IRA’s are excluded from Net Worth and Total Asset calculations

Proving that you are destitute is counter-productive to being approved for acceptance into the 8(a) Program. If you are flat broke, how can you successfully compete in the federal marketplace? How can you obtain the working capital you’ll need to support a contract? The thing to remember is that Size Standards apply to your business, but Social and Economic Disadvantage are based on YOU, the 51% or better owner in the business. So in your narrative – one is required by the way – address your economic disadvantages based on each of the aforementioned criteria, but, more importantly, address the business’ economic advantages.

If you and another business have a strategic partnership whereby you provide services for them and they provide equipment for you, mention than. If your business has a vendor that provides you with generous terms, then outline those. And, of course, if the business had a working capital LOC with a bank, detail that account relationship. All of these things will prove to the certifying agency that you meet the requirements, yet you still have that all important “Potential for Success” in the 8(a) Business Development Program.

Explore the Exciting Options Offered by an Online Economics Degree

When contemplating an Economics career, what images come to mind? Do you envision long hours leaning over computer keyboards performing complicated statistical analyses? Perhaps you picture dull accountability meetings that feature long-winded explanations and visual presentations to bored board members. If so, you are not alone.

Contrary to popular belief, Economics is not nearly as dull and dry as many deem it to be. Take a momentary pause. Put down the calculators and pull away from the keyboards. We are about to embark upon an expose into the economies of obtaining an online Economics degree. Class has now commenced.

An exercise in versatility

Economics is the driving force that underlies everything. On financial fronts ranging from the global marketplace to household budgets, economy is essential. Much like geologists, the heart of economists’ job is preservation. Instead of the natural environment, economists are concerned with scarce monetary resources.

A broad array of opportunities are available to Economics majors. Commercial entities are very common employers. Economy professionals are also found in medicine, law, non-profit organizations, and government.

Levels of learning

A bachelor’s degree is the minimum requirement for entry-level economist positions. Most Economics majors find private-sector employment. Non-profit concerns and government also yield abundant opportunities. In the Federal government especially, many newly-minted Economics majors find professional havens in facility-based statistical and data analysis operations.

Academia is also an attractive professional destination for economists. Professorships at major universities are wide open for those with doctoral Economics degrees. This career path is also attractive to incurable research and writing fetishists who provide running commentary about economic trends and concomitant public policy.

An online economics degree at the master’s level is an ideal fit for those seeking a pragmatic professional position in Academia. It closely matches the hiring protocols at most high schools or junior colleges.

Envision your options

Many students cannot visualize many – or any – practical economist careers that interest them. This is unfortunate, as Economics majors possess practical skills that are extremely marketable. Think about it, class. The basic concepts underlying every economist job are money and math. When combined, they add up to a knowledge base of universal high value. Here are some examples:

Economic Forecaster

Every business’ top priority is maximizing the bottom line. A flawless crystal ball would yield guaranteed unlimited profits. Unfortunately, such devices have not been invented. Forecasters are the next best thing available. Their complex analyses are extremely helpful to commercial concerns. Current economic climate and market conditions are gauged for maximum marketing efficiency.

Finance, Banking, and Accounting

Economists’ extensive numbers knowledge is always needed in other areas, as well. Half of maximizing bottom lines is minimizing expenses. Economists advise organizations on achieving maximum budgetary efficiency. Operational costs from employee restroom toilet paper to multi-billion-dollar capital acquisitions are scrupulously scrutinized and monitored by economists.

Public Policy, Government

Economists accurately comprehend and evaluate demographic, socioeconomic, and financial patterns. These trends can be monitored, compiled, and evaluated. Realistic projections about the likely effects of proposed budgetary allocations, tax regulations, and other legislation are performed with great accuracy. Economists frequently conduct feasibility studies for accurate assessment of proposed projects or policy changes.

Other Options

Economists explore statistical arenas aside from purely monetary and financial matters. Research positions in scientific oriented organizations is a popular career path. The logical deductions and inferences that may be drawn from economists’ conclusions are very valuable to such organizations.

Economic rewards of Economists

Here is a thinking exercise, class: If someone caused an extra $1 million to flow into your bank account during a given year, how much would they be worth to you? Even payment of a half-million dollars would be profitable, don’t you agree? Businesses think the same way.

A 2008 Wall Street Journal study showed that average starting pay for Economics majors was $43,419 per year. This pegged economists as the fourth highest-paid occupation. Economists even exceeded average starting salaries of new-minted MBAs.

Family Business and the Economic Downturn

Recession, stagflation, deflation, inflation, and even depression are words used to describe the current economic conditions. While it is too soon to properly define our economic times, we are clearly in the midst of a significant downturn in the United States that will affect economies and citizens around the world.

Indicators of the distressed economy include a sharp drop in housing prices, a credit crunch due to the subprime mortgage debacle, rising unemployment, rapidly increasing oil prices, the falling value of the dollar, large trade imbalances, and expanding price inflation. Just in case you need to pile on more, a prolonged and unpopular war and a pivotal presidential election amplify uncertainty in the U.S. Together these factors suggest a prolonged economic downturn (feel free to say recession if you must) throughout 2008, with a full recovery that might not be completed until late 2010. Furthermore, the United Nations warned in a January 2008 report that this economic crisis will reach throughout the world. The U.N. urges governments and central banks everywhere to work together and not react as if this is simply a U.S. problem. As the most active capital market with the dominant currency, the U.S. economy affects developing countries as well as the economic giants. According to the U.N., the economic crisis will have far-reaching social and political consequences that may even affect the vibrant economies of China, India, Brazil, and Russia.

As the economists, policy makers, and television pundits debate the duration and implications of the slowdown, our concern is how the slowdown affects family businesses. Conventional thought is that economic conditions such as recessions are devastating to family businesses. This assumption is partially correct in that family businesses in industries most affected by the downturn (e.g., housing-related industries, real estate, financial services, luxury retailers, and durable goods producers and sellers) will face dramatic decreases in demand and/or changes in consumer preferences. Other family businesses that have been able to survive in strong economic times with weak strategic planning, financial management, and governance infrastructure will find that their lack of discipline will lead to failure in tougher times.

Businesses where poor family dynamics are present also suffer in difficult economic times, which tend to exacerbate ongoing family conflict. Imagine, for example, a business run by one sibling or cousin whose relatives are not engaged in the business. If this group does not get along well, there will be a tendency to blame the relative in charge for poor financial performance even if the situation is outside of the leader’s control. Despite all these challenges to family businesses, economic hardships historically have been the greatest time of development, growth, and opportunity for family businesses. Family businesses tend to be more responsive and flexible than non-family counterparts, and their long-term outlook, willingness to invest, and commitment to building a legacy allow them to make the most of the opportunities presented in the marketplace of failed competitors and shifting consumer preferences.

In addition, recovery periods often serve as the birthplace for new family businesses. In the U.S., the development of new businesses historically increases during an economic crisis or during the recovery period. This happened in the postwar years 1946-1955, 1980-1987, and 1993-1999. While circumstances are different for each crisis, the fact is that newly found “necessity entrepreneurs” choose to be business owners and many create highly effective first-generation entrepreneurial family businesses.

Perhaps the greatest challenge to family businesses is how well their managers, directors, and owners, most of whom have never led a business during a sustained economic downturn, lead their businesses during tough economic conditions. From 1990 until 2007, there have been only two recessions, from July 1990 to March 1991 and March 2001 to November 2001. In each case, the economy suffered for only eight months before a turnaround occurred. We would need to look all the way back to July 1981 to November 1982 and November 1973 to March 1975 to find a downturn of more than a year in duration. The likelihood that a family business will have a team of managers, owners, and directors with experience to handle such times is becoming more remote each day.

Furthermore, even an experienced team may not be able to help, as the type of recession forecasted will be more complicated and dynamic than we have ever seen before. The question remains-will today’s family business leaders be successful in navigating these complexities? One concern is that our extended economic boom has led to tremendous wealth creation and management success, which has in some cases, fostered bad habits for management, unreasonable expectations for shareholders, and overconfident business leaders. Success often leads to complacency. When businesses begin to fail, reactive business patterns such as hunkering down and broadly cutting costs without regard for circumstances can be disastrous. In many cases, the best strategy may be investing in moderate-risk opportunities.

The picture painted in nearly every media outlet does not look too bright for the economy. Does that mean that we should just throw up our hands and give up? Certainly not.

Key drivers of capitalism are the expectations and attitudes of consumers and producers. Family business owners routinely indicate optimism in their businesses. One example is the 2007 Family to Family Survey, which indicated that 87% of family business leaders were highly optimistic over the next five years regarding their success. As late as January 2008, a National Federation of Independent Business survey found that while business owners are preparing for changes brought by a slowing economy, they are still cautiously optimistic about the future of their own business success. The problem now is that consumer confidence is fading and traditional government responses such as economic stimulus packages and central bank adjustments might not have the same impact as in the past. This highlights how different our economic environment is today and demonstrates the uncertainties that exist as to how to best manage the family business to ensure long-term survival.

No Place For Arrogant MBAs In A New Business Reality

For a long time, business schools had a – more or less deserved – reputation for producing arrogant, narcissistic graduates. Their students were often portrayed as elitist know-it-alls, or – even worse – as promoters of “fast money” culture with questionable morals, ready to walk over people and cheat in order to advance themselves. Some even blamed the MBAs’ decidedly A type personalities for the recent global financial crisis.

Whether MBAs are to blame for global economic problems or not, the great crisis may have changed the attitudes of business schools and their business major graduates, as they are seemingly starting to move away from favoring A type personalities, who are no longer seen as appropriate in the current business climate. The world has changed a lot since the global economic crisis of 2008. The business world has to change as well.

While we are slowly pulling out of recession, the holders of an MBA degree are expected to contribute to a more collaborative – and may we say, more humble – business environment of today – and, in all likelihood, tomorrow. Business schools are trying to teach more holistic and interdisciplinary techniques, such as emotional intelligence or behavioral economics, and not solely business economic ones. To respond to the changing market, they are trying to encourage thinking across disciplines, innovation, and taking the longer view.

Up until now, the MBA students were encouraged to look up to the role models who exhibited quick decision-making and the audacity to act quickly on their strong opinions. Show results at all costs! The hallmarks of type A personality, like outspokenness and the fear of missing out were being rewarded. This could, however, lead to some overly reductionist thinking – the results of which were plain to see during the bad times.

The next generation of MBA graduates must act differently, not only in the class, but in their job interviews and in the workplace. In a world where the increasingly interconnected economic, financial, social and political factors cause complex problems on a global scale, hubris can lead to catastrophic outcomes. It has become difficult to make quick decisions. Linear logic cannot be applied in a situation where so many diverse economic actors exercise their influence. Not to mention that in recent years we have all witnessed how many executives let hubris get in the way of their ambitions, wrecking not only their career, but their companies, and the lives of many.

Today, many business enterprises make use of colocation for the day-to-day consistency of their website and business transactions. By the use of it, they can manipulate all necessary data in their respective servers to maintain balance and order in their company. Web hosting services such as hosting centers are known to be competitive in many aspects. They have many great uses for big companies as well to those who perform their jobs at home.

Telecommunications resources and other security facilities are also involved in colocation. It is one of the economy’s most valuable scale, since it plays a major role in carrying multiple tasks for many enterprise users all over the world. Internet appliances and servers are protected for 24 hours at all times, people will definitely have the peace of mind in their business. Physical access to facilities inside the building can be also monitored with the use of security cameras that are being tracked by security staffs, using this virtual hosting service system.

One of the best feature of colocation is the maximum level of power supplies, which have battery backups that are made of electronic equipments which are sealed against spikes and power dips. It enables diesel generators to run a certain facility until the power is restored automatically, after the transmission line is lost, and it even produce power from transmission lines to enhance its quality performance. Many facilities today have temperature and humidity control such as the heating ventilation and air conditioning systems. However, environmental control is important as much as power condition, that’s why wise usage of power resources is essential.

Disasters that strike down facilities with fire, flood, or windstorm, can ruin your business for several days. However, with advanced backup systems there can be switchover without customers even being aware that there is havoc. Ready access to bandwidth is also offered for business enterprises who demands higher bandwidth increments. Price for leasing is also available at a low cost, which offers an order of greater bandwidth, which usually results in your business being successful in every way and customers coming back for more.

In addition, this method is reliable in setting up a business network directly on an internet day to day process. In this way, data are being moved fast and effectively through routers between your business and the entire network on the internet. Faster bandwidth is produced, while network latency is reduced. Server downtime is also avoided for any live service transition, and server capacity has increased by ten times its current size. Furthermore, the cost for upgrading bandwidth is divided among other users, so definitely the expenses are never burdensome to pay.

Power redundancy, industrial spy, expensive network bandwidth, network latency, server downtime, and environmental interruption can be all prevented by getting acquainted with data center, who are implementing the usage of virtual hosting service systems. It widely known and has been tested by many companies, and has been proven safe and effective in keeping and maintaining order in data and backup systems. This is definitely one best ways to go for your business.

Social Media: Your Business’ Economic Stimulus Package

When business building & networking, pretty much daily the question comes up, ‘Why do you do what you do?’ Before digging deeper, there are many common responses:

1. I have a strong skill set here and a lot of value to add to growing businesses.

2. I find this work fun & fulfilling, let me take the load off for others who don’t enjoy it so they can focus on their core genius.

3. There is a huge need here I am honored and thrilled to be able to fill it. And the list goes on…

In a coaching session with the fabulous Harriet DiCerbo of Mosaic Path, her line of questioning took me further, and allowed me to say something I normally would have felt immodest or arrogant saying, so it took a while to spit out, but dammit, it’s true! “I want to, and believe I can help stimulate the economy via social media!”

What?- Lil ol me, stimulate the economy? But why not? Why not all of us? We all have great business knowledge to share with others. Knowledge is infinite, meanwhile, most of us only have access to 10% of our brain. Something you find simple and basic could be someone else’s enlightening moment and vice versa. Don’t discount yourself.

So how can you use social media to stimulate the economy and your business or career?

1. Times are tough, budgets are strapped (not one of those enlightening tidbits, I know). A small investment in social media strategy and education will facilitate the ongoing use of tools that are free. Your recurring cost can be limited to only time. It shocks me how many businesses still take out classifieds, TV ads, radio ads; advertising the majority of the population simply tunes out. Save excess funds, allocate a smaller portion to social media education, and then run with your new model on a budget while capturing more business! Not to discount those modalities completely, but track metrics to see what is truly bringing you ROI.

2. Sadly, I see local brick and mortars pop up quickly, only to find the storefront is up for lease again shortly thereafter. Many watch bottom line by not advertising, but as I frequently & cheesily reference- “If you build it, they will not necessarily come.” (Even if you believe they will, in the movie, they were ghosts. Ghosts don’t make good customers, they scare the real ones away & don’t buy stuff.)

Social media lets people know you are there. A small investment gives you a way to establish brand awareness. At the very least, get your Google Profile completed, claim your Google Place, and put yourself on the virtual map. It’s free!

3. Businesses are cutting back by not attending or postponing trade shows and conferences. This drastically impacts the goals of a sales team who may normally rely on these events to fill their pipeline, earn commissions, thus feeding their family & paying their mortgage. Seeing a company make this decision, and then seeing same company has no presence on LinkedIn literally saddens me. When used to its fullest, proactively, and with proper etiquette, you will see your pipeline grow and sales soar. As a side bonus, your cold calling can head to the grave. Even those cold calling for 20 years tell me it is still the most dreaded part of their day.

4. While we are on the topic of trade shows and conferences, did you know Twitter allows you to be a fly on the virtual wall? Don’t get pissed at your boss for keeping you at your desk; surprise them by saying~ “Cool! No problem! I’ll attend free from my desk!” Find the Hashtag and join the Twitter stream. The July eWomen Network Conference in Dallas used #eWN2011, and is still going strong weeks later. Several tools allow you to follow hashtags, archive and save them. You can meet people, learn from speaker sessions, engage and do business.

5. Are you job hunting and using or exclusively? To those of you also deep sighing with an eye roll, I know…. it shocks me how many think this is still the way to go. These jobs are already stale and likely have spent quality time already on LinkedIn. They probably are already down to the final 3 candidates and have it out there just in case they all get hit by a bus. If you aren’t on LinkedIn maximizing your profile and connections, while exercising caution on your other social profiles like Facebook & Twitter, you better believe that other candidates have both legs, and arms, up on you.

Daily I encounter entrepreneurs and business owners who are simply not yet aware of the power of these tools, or the current state of the technology. In many cases people simply feel overwhelmed by getting started, understandably so! Just pick one thing, start slow, and as Nike says “Just Do It”! It’s better to start getting a toe wet slowly than to keep it forever in your Nike.

Considering the power in these few tools, and how many more are available, I look back and think, “Yes, the more people I can show how to do this, the more people get jobs, the more businesses get business & create brand evangelists, I am stimulating the economy!” And it’s fun too. That’s pretty cool!