Finances runs the world, yet so many people are scared to learn about it.
Crispin Nkya
MBA/ Finance student
Business Analysis
Now that we are almost at the end of decade, 2019 has been a roller coaster in the financial sector with interest rate news, trade wars, politics and recession news it’s time to reflect. The United States is still on the driver’s seat, but we as individuals have no time to waste but make sure that our checking, savings, investments, businesses are healthy in the years to come…. This is an opportunity to learn about your cash flow, taxes, credit management and much more.
Creating my own space in the world, one post at a time…. Crispin Nkya
The leader in the room never has to say they are the leader. Always look for the main influencer, that’s the leader and not necessarily the guy/gal on the main chair in the boardroom.
Creating my own space in the world, one post at a time…. Crispin Nkya
Time and time again through major companies like Blockbuster, Pan Am, Kodak have shown that success can be temporary if not managed strategically. Just because something used to work in the past, or is currently working for a business doesn’t guarantee that it will keep performing in the future. In this modern day 5G world where millions can be pursued with a click and companies can rise with click bates, a business has no choice but to stay on top of things. An analysis of the 10 most successful companies in the world discovered a recipe to success can greatly be attributed by following the 8 ingredients below:
Innovative
Invests on understanding their customers
Consistency
Invests highly in technology
Embraces and encourages change
Strategic
Speed
A sound financial plan
Creating my own space in the world, one post at a time…. Crispin Nkya
Starting and or maintaining a business is not for the fainted of heart. There are hundreds even thousands of businesses getting started globally on a daily basis, BUT the differences between success and failure all things considered, may depend on the business owners’ understanding of the 4 main statements;
1) Balance sheets
What is owned and owed at a fixed point.
2) Income statements
How much has been made and spent in a period of time.
3) Cash flow statements
The movement of money between the company and it’s outside stakeholders over a period of time.
4) Statements of shareholders’ equity
Shows changes in the interests of the company’s shareholders over time.
Creating my own space in the world, one post at a time…. Crispin Nkya
Christmas, thanksgiving, new year’s eve come on the same date every year, BUT the financial effects of these days are the cause of financial ruins for millions. This is due to travel expense and purchase of big ticket items. Below are the few vital things to be mindful so as not be caught up with the holiday nightmare aftermath;
1. Never skip you mortgage / rent or car payments for the sake of buying high ticket items due to holiday sales. If you were not able to save the whole year for those items what makes you sure you will be able to pay for it next year?
2. Make sure you are aware of the APR on each credit card pre-approvals before taking one. If not careful you might end up paying way more on your purchases long term due to APR.
3. Lay away might not be the best way to go. The prices might still be inflated, and should you not be able to purchase by end date you will be losing a percentage of your money.
4. Don’t bite what you can’t chew. Make sure that your purchase are not overbearing to your long term financial health. Constantly remind yourself the differences between needs and wants.
It’s defined as the temporary economic decline during which trade and industry activity are reduced generally identified by a fall in GDP in 2 successive quarters.
Is the United States in a recession?
Looking at a few probable factors it appears there’s a chance we could be facing recession in 2020.
Key Indicators
Yield curve, stock markets, Treasury spread, Real wage growth, Corporate profit margins, housing market, Unemployment rate, instability of the global economies.
Ways to combat your own recession.
1.Know your finances at all times… Remember if you know better you do better.
2. Always be prepared for a rainy day… Have a 3 to 4 month survival savings.
3. Be on the front seat of your 401K… Always be in the know on how your money is invested on those blanket investments.
4. Invest in yourself… Learn a new skill, trade or taking advantage of company paid tuition.
Being able to Own a home has been characterized by many as the ultimate American Dream. It’s personal, emotional and yes nerve wracking. Below are 3 things you need to know that many over look.
1: Your credit will determine how much you can afford and the interest you will pay for the life of the loan.
2: You don’t have to take the maximum approved loan amount.
3: Always do your homework about the potential future of your home’s value.
4: Be mindful of the taxes changes & HOA regulations on the properties that you are interested in.
All businesses in this era have no choice but to adapt marketing strategies that work for not just their current target market but for the future generation as well. The products and services have to be memorable, stick in people’s mind and be able to transcend time or they will fail. There are 3 major things that impact me and most of the people around the world when it comes to buying decisions.
Back story of a product or service is vital to be shared because it puts things in perceptive while helping to connect with the current and potential customer. In the world of fast information sharing, this little common sense way of differentiating product and service can make or break a business, and companies like Warby Parker eye wear are a great example of how efficient a backstory could be for a company. As a student with a rebellious spirit who went through a whole semester without glasses because of the cost came up with an idea to lower the cost and the back story providing a socially-conscious brand with a genuine vision. This is ingenious to say the least since it’s now trending and giving the competitors a run for their money. Features are also another amazing product and servicing differentiating technique that has raised unknown companies to major superstars.It opens up and welcomes the audience to the core of the mindset and belief of creators which creates a connection deeper that it would have otherwise been thus creating a fan base of future followers. Car companies are known for pushing their features as part of the selling points and very few do it as Mercedes Benz, seen in their 2018 cars including the new Energizing comfort feature adjusts the car’s climate control, seat heating, cooling, and massaging functions, ambient lighting, audio system programming, and even the car’s automatic fragrance dispensing. Delivery options is another major reason on what company I chose to buy from, I want to be able to get my services and or products on a convenient time while being able to track down each and every process from placing my order to when I should expect delivery. Amazon Inc. has been superb on this and has completely changed the way I personally shop, with options like Amazon Flex whereby you can get your products within an hour it’s mind boggling not to use them. Visuals are important and they play a vital role I differentiating products and services in all levels. In the world of fast internet and colorful images a boring display can have the best products fails thus companies have to make sure they invest strategically on how their products are designed and displayed in a way that is not only attractive but functional and inviting. Apple Inc. is a master at this, it’s products not only have amazing feature but it’s visuals are also slick and command respect which in so many ways has helped fuel it’s fan base.
By all accounts in products and services, Mercedes Benz is unique and industry leader in car manufacturing, fashion and luxury. It has differentiated itself better than most auto companies in the world winning hearts and almost fanatic following from its customers. Due to its responsive performance, distinctive styling, pioneering technology, and of course unparalleled safety features. Its marketing strategies with Slogans like “The difference is Clear, the best or Nothing, engineered like no other car in the world along with amazing unique engineering of their cars has made the car company the best in its class. In my opinion Mercedes Benz has embodied and created a perception that marketer all over the world should strive to achieve. It’s such refreshing to see a company connect to its customers in such a strong way as it has today and years to come.
Creating my own space in the world, one post at a time…. Crispin Nkya
Since its inception in 1923 the founder brothers Walt and Roy Disney remained true to their strategy in bring pleasure, particularly laughter to others, a strategy that has made it a global conglomerate and a star in its own accord.The studio entertainment segment has by far solidified Disney as one of the most recognizable and loved companies in the world with children and parent alike making it a family tradition not only to watch the movies religiously when they come out, but also have a once in a life time trip to visit Disney land theme park. It connects its audience with the hit movies like beauty and the beast, Aladdin, the Lion king which them creates products like shoes, clothes, toys to sell to the very fans that watch the movies and businesses that line up to create their products to align with Disney as a marketing collaboration. It continues to invest in the family fun as seen with its recent collaboration with McDonald corporation seen in February 27 when it announced a promotional alliance company to add more fun to family mealtime with Happy Meal cross-promotional campaigns, a move that not only helps the burger company but the helps Disney to get it’s marketing to its targeted market which is families (McDonald’s USA Announces Happy Meal Promotional Alliance With Disney, 2018).
Very few people know the mass media networks that Disney owns and which are vital in making the brand we know today. It has several critical challenges like competing for viewers with other television and cable networks, various other video games and the internet itself. This means it has to allocate more resources to these other entities in order to be the best it can be while maintaining lower costs than its competitors like CBS Corp, Viacom, Twenty First Century Fox, Comcast Corp, AMC which is a challenge that needs exceptional strategies for it to continue to reign as a company that creates blockbuster entertainment across the globe. Known for its high productions costs of the like of Pirates of the Caribbean” Dead man’s Chest where Disney spent a whopping $225 million in production, it has to spend more and more each time which can be dangerous if a movie flops but lucky for them it didn’t because it made over a billion dollars at the box office alone . The bad publicity it gets from things like boycotts that it continues to face on almost a monthly basis is a challenge that it needs to come to up with a strategy to make sure they are controlled, as seen when it faced a standoff with industry-wide boycott by film critics in 2017 was so severe that it almost led for the company’s movies to be disqualified from consideration for end-of-year awards until the blackout is “publicly rescinded.
All in all, Disney has been successful in its strategies for generations earning itself a chance to becoming a household name that is known and loved worldwide, in the coming years it has to continue innovating, be more transparent, embrace change and keep investing on technology that can guarantee profitability and survival.
Creating my own space in the world, one post at a time…. Crispin Nkya
