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Day: November 23, 2018

What is a Mutual Fund?

Ever wondered what is a mutual fund? A mutual fund is a pool of money run by a professional or group of professionals called the "investment advisor." It is a company that pools money from many investors and invests the money in stocks, bonds, short-term money-market instruments, other securities or assets, or some combination of these investments.

The combined holdings the fund owners are known as its portfolio. Each share represents an investor's proportionate ownership of the fund's holdings and the income those holdings generate.

Because it is sometimes difficult for investors to become experts on various businesses for example, what are the best steel, automobile, or telephone companies, investors often rely on professionals who are trained to investigate companies and recommend companies that are likely to succeed.

In a managed mutual fund, after investigating the prospects of many companies, the fund's investment adviser will pick the stocks or bonds of companies and put them into a fund. Investors can buy shares of the fund, and their shares rise or fall in value as the values ​​of the stocks and bonds in the fund rise and fall.


Investors may typically pay a fee when they buy or sell their shares in the fund, and those fees in part pay the salaries and expenses of the professionals who manage the fund.

Even small fees can and do add up and eat into a significant chunk of the returns a mutual fund is likely to produce, so you need to look carefully at how much a fund costs and think about how much it will cost you over the amount of Time you plan to own its shares.

If two funds are similar in every way except that one charges a higher fee than the other, you'll make more money by choosing the fund with the lower annual costs.

Past performance is not a reliable indicator of future performance. So do not be dazzled by last year's high returns. But past performance can help you assess a fund's volatility over time.

Making any sort of investment involved a certain amount of risk so it is always wise to seek the advice of a professional before making any decisions. …

Mobile Oil Change Businesses Are Very Hard to Succeed In

There have been many people who have come and gone in the mobile oil change business. It always looks easy from the surface and is relatively inexpensive to start with minimum investment compared to most other businesses. But most mobile oil change operators rarely make it past the first year. In fact most do not make it past the first several months. One has to wonder why such a good idea ultimately ends in failure. Lets take a closer look.

First the profit generated from oil changes is not enough to sustain a healthy business. After you calculate the cost of goods from the total bill there is rarely is more than twenty five dollars net profit made from your typical oil change. And that figure does not include the gas used driving to the actual location. You have to be doing a lot of oil changes per day for you to make a decent profit to support your business and your personal expenses. Most quick lubes make even less due to their substantially higher overhead yet make up for it in large volume. Most successful fixed locations are doing 60 oil changes on a bad day. A mobile oil change company, with most of the time one or perhaps two people working it, does not have that luxury. The most your typical mobile oil change van can do is ten oil changes per day and after that the operator is exhausted. And even if a person could consistently do ten oil changes per day he still has to generate those oil changes from somewhere. They do not magically appear. Do you have a plan how to do that? Most start out thinking corporate campuses will provide tons of business especially if its marketed by the companies there. In reality that rarely works as advertised and you will be lucky if you get 10 customers in one year from a huge corporate campus. The end conclusion is that the net per oil change is just too low to make a viable business from it without a massive amount of volume.

Second, many mobile oil change operators are not very good salesmen. They are usually very honest people and ones who are very passionate about what they do and you gotta love that but I have found that most owners of mobile oil changes are terrible at the sales end. They are usually the type who try to charge way less than the going market rate and think they can tell a few people about their “awesome service” and wait by the phone. That never works. You have to go out and get them. You have to do a copious amount of cold calling. You have to talk to a lot of fleet managers and sale yourself first and then your service. Most in the mobile oil change business do not fully understand this or never really apply themselves to this side of business. Its probably the most important part not …

Starting a Business – 5 Personal Inventory Audits to Help You Launch Your Business Startup

Starting a business appears to be as American as apple pie. Every year, tens of thousands of people in the United States decide to launch their own business start up. If you are thinking of doing the same thing, you probably need some help in deciding exactly what type of business you should start.

In over 9 years of being a business adviser and coach, I have helped numerous entrepreneurs make decisions like this with a special set of tools known as personal inventory audits. These personal inventory audits are simple sessions where you think specifically about a particular life area and create a list of assets. Here are 5 simple audits you can perform on yourself to help you decide on the business startup of your dreams.

1. Audit your Skills and Competencies

Starting a business related to skills you have means that you can be your own employee. These may be broader professional skills, or technical skills or even leadership skills. When you establish a company that delivers a skill set that you understand, you can manage your employees based on your first hand knowledge of what they do.

2. Audit your Experiences

The experiences you have been through in your personal or business life can form the foundation of a new company. Whether these are nominally negative or positive experiences does not matter. In seminars and workshops, I instruct people to “turn tears into gold” by repackaging their experiences (and lessons learned) for the marketplace of people who may be going through similar situations.

3. Audit Proximities

By proximities, I mean that you should audit and create a list of people, places, products, or philosophies that are near and dear to you. Ask yourself questions like:

  • What can I partner with these people to offer?
  • What do these people do well that I can sell?
  • What are the places I’m familiar with well known for?
  • What do I know about this product that many others need to know but do not?
  • How many others could use these philosophies I have been adhering to?

These types of questions serve to jog your thinking into action and to help you discover hidden opportunities for doing business.

4. Audit your Hobbies

If you have outdoor hobbies like extreme sports or hiking and mountain climbing, you can leverage your knowledge of these areas to start a related business. Not only could you start an equipment or accessory supply business, you could start an internet-based business where you sell valuable information to fellow hobbyists. The internet is also a great business platform if your hobby is an indoor activity like embroidery or scrapbooking.

5. Audit your Professional Knowledge

Do you have professional credentials? If so you could start a business in your area of expertise. An accounting professional I know recently started a bookkeeping business to help business owners in a very specific niche. This is a great way to leverage the work you have already done and the experience you have …

Think Like A Thief & Protect Your Assets

Many managers find themselves responsible for valuable assets. These might be tools or equipment or vehicles or trailers – expensive industrial items that are vulnerable to theft. What’s the best way to protect these assets? This guide from Barrington Security will help you put the correct security in place. This is one case where it pays to ‘know your enemy.’ Understanding would-be thieves are vital if you want to identify and correct vulnerabilities in your organisation’s fleet. Dropping your managerial mindset and trying on the thief’s point of view will allow you to pinpoint risks and address them before real thieves can make use of them.

What does it take to slip into the mental shoes of a thief? A good place to start is by examining the thief’s core motivations and behaviours. This is all learning you can put to work safeguarding your assets.

1) Thieves Love Window Shopping

Criminals are always on the lookout for potential targets, and easy visibility plays right into their hands. Any valuable assets – equipment, tools, electronics, laptops – left out in plain sight are invitations to theft.

All of your tools and equipment need designated storage areas that keep them out of sight. Everything of value needs a specific ‘home.’ This makes it easier for you as a manager to confirm that all of your assets are secure.

2) Thieves Are After Easy Money

The most attractive targets for thieves are items that can be easily sold off. Construction assets like lorries and trailers, for example, are especially attractive because they can fetch a high price.

Understand the value of the assets you control. Which items show the most profit potential to a thief? Your security efforts should be divided up according to the value of your assets. To return to the construction industry, some pieces of equipment are especially theft-prone because thieves know they lack serial numbers. This makes it easier to conceal the provenance of a stolen item.

Wherever possible, brand or label your equipment in a permanent way. This will make your assets harder to sell if they are stolen, and that in turn makes them less attractive to thieves.

3) Thieves Want To Minimise Risk

A thief will prefer the safe, easy steal over the challenging one every time. Use visible security measures like strong locks and alarm systems to make it clear your assets would be risky targets. You can successful dissuade many thieves simply by making it clear that stealing your assets would be difficult.

4) Thieves Don’t Expect Proactive Security

This point goes a little beyond identifying with your thief. You also need to anticipate your own actions if you lose an asset. Your responsibility as a manager includes taking swift action if something is stolen. Ensuring you have a security system in place is a good deterrent.

To make this easier, it’s important to maintain an up-to-date asset catalogue and check your actual assets against it. When something goes missing, you need to take …