Nick Yates AU

American production lines dependent on Chinese suppliers might take note of recent labor trends in China.

It may be that labor costs will be rising dramatically soon for Chinese suppliers, due not only to China’s peculiar demographics but also its current stage of development and a resultant steady rise in labor costs there.

The booming Chinese economy of recent decades has been partly driven by cheap labor from rural areas where under- and unemployment were a fact of life. Now there are growing signs that the once almost inexhaustible supply of cheap rural laborers is at last diminishing.  The one child per family policies in effect for decades in the Middle Kingdom has hastened the inevitable.  So have the decades of rapid industrialization along with its ever-increasing hunger for laborers.  The percentage of China’s populace in the key 20-29 year-old bracket has steadily declined over recent years, and economists now predict labor costs will begin to sharply rise as China comes fully to grip with a tightening labor market.

This will translate into rising costs for Chinese producers and therefore also for those whom they supply overseas.  It may also serve to slow China’s industrial growth from today’s blistering nine-percent rate to something lower.

And while rising wages do promise improvements in the living standards of China’s overall population, they may foreshadow problems for overseas firms dependent on lower priced goods from China, and soon make necessary the search for lower-cost suppliers elsewhere.  The process has long ago been played out in Japan, and was then in turn seen to occur in Taiwan and South Korea.

American firms should even now be scouting fresh opportunities in developing economies beyond China’s familiar borders. This has been Nick Yates with another business update.

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I, Nick Yates, am going to make myself unpopular with the muses who exert their sometimes inexplicable influence over public opinion.

Specifically those muses behind the flights of fancy that now have us increasingly enamored, as a nation, with the idea of transferring our power grid out of the hands of carbon-based power technology and into those gearing up to profit from the production and maintenance of wind turban farms.  (Other muses hoping only to profitably invest their 401k savings in this might also take offense!)

Turns out that Denmark — which apparently leads the civilized world in such endeavors — has decidedly mixed feelings about the whole experience.  With twenty percent of their electricity now coming from wind, it seems Danes have grown melancholy over wind power’s shortcomings.  Winds don’t blow steadily;  They’re insensitive to diurnal peaks in power need;  Electricity thereby produced is expensive — if not impossible — to store in meaningful amounts for use when actually needed.

Add to that the fact that even in tiny Denmark, folks and their workplaces are often located inconveniently far from where winds blow.

Vastly larger America can expect to encounter these vexing problems on a proportionately larger scale.  So those of us contemplating feathering our retirement nests with investment profits made from the wind turban industry — might therefore pause to study the Danish experiment to date and what it likely bodes for wind power elsewhere.

And then there’re environmental concerns.  Not with climate change.  But with our propensity to agitate and sue over, for instance, our right to enjoy a power-tower-free view out our living room window!  Turns out, many of our nation’s windiest areas (beyond Capitol Hill, anyway)  are in the less densely populated Midwest, far from major urban centers.  That will require an awful lot of power transport towers to move electricity to where it’s needed — maybe even as many towers as we have lawyers to fight them.

Smart investors should therefore be ready to jump out of wind turban industry stocks well before reality hits and America moves embarrassedly on to the next fad.

Or perhaps park themselves now in nuclear power industry stocks and be ahead of the crowd.

Tags: Nick Yates, Wind Power Profits or Losses?

Author: Michael Laleye

We all know that ideas are a dime a dozen. While ideas may be cheap, good ideas can be rarer than free diamonds. If good ideas were that easy to come by, however, ask yourself why you didn’t invent the personal computer or compact discs.

So consider buying a good idea for your business. Besides buying a franchise or an existing business, or starting a business from scratch, you can buy a business concept. You may see some of these concepts referred to as business opportunities and easy ways to make extra money.

With a franchise you’re buying a name and concept by paying an up-front franchise fee and a continuing percentage of your earnings. With a non-franchise business opportunity you also buy a concept by paying an up-front fee for your easy ways to make extra money. You may also pay the seller for equipment and supplies. What you don’t pay is a continuing percentage of your earnings.

While you do get a business idea that is a turnkey business where you can immediately begin your operations, you don’t get many of the things that come with a franchise. Sometimes these things are good, sometimes not so good.

Understand that there is no requirement to pay any ongoing fees. Once you pay for the business opportunity, you’re basically on your own. You may continue to order supplies from the seller, but there are no other fees. With a franchise you have a continuing obligation to pay franchise fees.

There are also no restrictions. With a non-franchise business you aren’t required to conform strictly to a franchiser’s code of operations. You have more flexibility to run the business as you see fit. And because you don’t have the ongoing fees of a franchise, you have more money in your pocket to do with as you wish.

There are other things that aren’t quite so favorable for a business opportunity. First is the trade name. With a non-franchise business you get the concept, such as college scholarship matching in which you help students locate scholarship opportunities, but you probably won’t get the trade name, such as American College Planning Services, a franchise providing the same type of service. Although you can negotiate to keep the current business name, in most cases, you run the non-franchise business under the name you select with your easy ways to make extra money. You must establish your own name recognition.

You also don’t get a protected territory. Unlike a franchise opportunity, the seller of a non-franchise business may sell the same business opportunity to your next-door neighbor, unless you have a non-compete clause in your contract.

It also lacks extensive training. You may get some reference guides or tapes to instruct you in how the business operates, but the seller of a non-franchise business opportunity will not show you how to run a business in general. You have to pick this up on your own. There may be a trade association that covers your business type that can help you.

Tags: Nicholas Yates on Business, Travel with Nick Yates

By Bobby Keating

Most people understand the word ‘entrepreneur’ to mean ’someone who starts new businesses.’ This is only partially true. If this were the case, according to statistics, 80 % of all of the ‘entrepreneurs’ in the world would be unsuccessful. The dictionary defines the word ‘entrepreneur’ as “someone who organizes a business venture and assumes the risk for it”. When we take a close look at this definition, it gives us a key to attaining the success that we search for when starting a new business or venture.

In the dictionary definition of the word ‘entrepreneur’ there are five words that need to be closely considered. The first word is important because it should give everyone the hope of becoming successful in business. That word it ’someone’. The less-than-specific nature of this word lets us all imagine that we can become an entrepreneur because we, by definition, are ’someone’. There is no specification for education, financial or social status, religious or ethnic background.

The second word that we need to consider is ‘organize’. This idea or concept seems to escape most would-be business owners. It is possibly the most crucial step in building a business and is the concept that is given the least consideration. Organizing is not planning. Planning is mapping out the business by listing everything that you will need to accomplish the goal that you have set in creating a business. Organizing is placing each thing that you have in your business plan or map (your path to success) into a logical, workable and prioritized list of tasks that need to be accomplished in order to reach your goal. Without organization you will spend time working on something that may be low on the priority list and often this can be detrimental to reaching your final goal.

The third word that we need to look at closely is ‘venture.’ Again, relying on the dictionary, ‘venture’ means “An undertaking that is dangerous, daring, or of uncertain outcome.” There are no ’sure’ things. Often people think that they have the perfect plan for the perfect business. This is great but very rare. We are all inundated with email and advertisements, especially on the Internet, which tell us how easy a particular business is. Most promise great success with little to no work or risk. We are promised that we can make untold and vast amounts of money while sitting on our coaches. NOT! As the Internet gets more and more sophisticated, the offers for ‘get-rich-quick’ schemes get bolder and bolder. You must realize and plan for uncertain outcome.

The fourth word that needs attention is ‘assume.’ This often is taking in a negative manner. When we assume something is true without studying all aspects of it, we make grave mistakes. In the context of the dictionary definition of entrepreneur, assume means to accept. We need to be able and willing to accept the consequences of our actions. This means that ‘if’ the venture is a failure we look at our actions and not look for a scapegoat or someone else to blame. Do not assume responsibility until you have thoroughly research and investigated every aspect of the business that holds your interest.

The fifth word is the zinger. ‘Risk’ means “a source of danger; a possibility of incurring loss or misfortune;” Realize that in every effort where there is great reward, there is also risk or the possibility of loss. When we consider investing our time, money and other resources in a business, we need to consider the risk involved - the possibility of lose.

This all boils down to diligence. King Solomon, the wealthiest and wisest man to ever live, has given us several keys to success in his Book of Proverbs. His primary key for becoming a successful person is diligence. Diligence is conscientiousness in paying proper attention to a task; giving the degree of care required in a given situation. If you were to study the lives of the most famous and wealthy people who have passed through this world, you’ll see that all of them have applied Solomon’s Proverbial Keys to Success in their lives and business.

The greatest advice that can be given an aspiring entrepreneur is read and reread Solomon’s Proverbs. If anything is worth doing, it is worth doing well. Become a diligent student and apply what you have learned. “Entrepreneur’ is not a title to be assumed without diligence in every area of life. If you have aspirations of becoming a successful entrepreneur, study Solomon’s principles for success and press on.

Tags: Nicholas Yates on Business, Travel with Nick Yates

By Pam Lawhorne

In 2006 I had one of the most amazing experiences in my life. It was the release of my first book. I had the opportunity to meet so many wonderful people from many walks of life all looking for the same thing - FREEDOM.

I myself am still searching for freedom, which I define as the ability to be able to do what I want, when I want, whenever I want. As of today, I still have not achieved that freedom but I know that I am on my way. Many people believe that once you become self employed that you suddenly become “free”. Free from answering to someone else, free to live the type of lifestyle that you want to live and free to make as much money as your bank account can hold. While it is true that these goals are obtainable from becoming your own boss, the truth is there is a higher price that you will have to pay to achieve these goals. The real price of achieving your dreams is costly. Not in terms of money but in sacrifices.

If you think that by becoming self employed you will be able to buy a fancy car, a big home and take tons of vacations then you may be in for a rude awakening. The reality is you will have to make some serious sacrifices to achieve those goals.

I remember while I was anxiously awaiting the release of my book, I got a call from my publisher telling me there was a printing delay and that there may be a chance that I would not have any books for my release party. Well you don’t have to be a rocket scientist to figure out that you need books for a book release party. So as I continued to work my normal 10-12 hour day taking care of my businesses, I found myself also having to spend countless more hours helping to plan a book release, doing media interviews and taking care of my family. The price for me during that time was sleep deprivation, stress and severe anxiety. I found myself getting up at 5:30 am and not going to bed until 12:30 am and repeating the cycle daily. Even thought it was a rough time in my life I kept my eye on the prize because I knew in the end there was a reward waiting for me. My reward was that I was publishing my first book; a book I knew would help change people’s lives!

In my ten years or so as an entrepreneur, I have made many sacrifices -financial, emotional, mental (definitely mental) and physical. All the while keeping my eyes focused on the rewards. You have to be willing to pay the price to get what you want in life because if you have lived long enough, you already know that no one will give anything to you. I am a firm believer that you are only limited to your own limitations. Based on that belief, I set personal and professional goals as if there are no limits. I encourage you to live your life the same way because in the end, as long as you have your eye focused on the prize, you will always achieve your dreams. Good luck on your future endeavors.

Tags: Nicholas Yates on Business, Travel with Nick Yates

Author: Barbara Silva

The Common Factor for Successful Entrepreneurs

Famous successful entrepreneurs like Ann Sieg of The Renegade Network Marketer, Mary Kay Ash of Mary Kay Cosmetics, Mike Dillard of Magnetic Sponsoring, and my own father, Wallace March who founded IDC, the first international drilling company, all had one particular thing in common. They all started with nothing.

Ann Sieg was a frustrated network marketer going nowhere fast in a long line of MLMs. Mary Kay Ash was a single mother of three working in a man’s world, constantly losing out on promotions to the men who she herself had trained. Mike Dillard was waiting tables. My dad was a bookkeeper.

Of course they all put in countless hours and ingenuity into developing their businesses. But what was it that kept them going in those early years that enabled them to overcome the odds and build business empires? They all possessed the mindset of the entrepreneur.

If you have ever attended a motivational meeting, you have probably heard phrases such as “believe to achieve” or “establish your why” as if this kind of magic thinking will have an effect on your ability to succeed.

Guess what? It does!

The Self-Fulfilling Prophecy

What you believe about yourself can set you up for success or failure. If you envision yourself as unprepared, ill-equipped or incapable of doing something, you have unconsciously set yourself up for self sabotage. A student who announces, “I’m no good at math” will probably have trouble in math class. We call this “The Self-Fulfilling Prophecy.”

During my long career as an educator I have worked with a wide variety of populations studying how they learn. While working at the USC School of Medicine, I helped research effective continuing education programs for physicians. I have worked with adults who couldn’t read. I was part of the pilot program for the proficiency exam in the California school district. I assisted in teaching introductory courses at Pepperdine University, and have taught high schoolers down to preschoolers.

The biggest obstacle to overcome in ALL of these scenarios, was the belief that the task couldn’t be done.

Sometimes this self sabotage is referred to as the inelegant “stinkin’ thinkin’”.

Stinkin’ Thinkin’ Sets in in the First Few Years of Life

This lack of self confidence frequently sets in at an early age. A huge percentage of our psychological personality is formed in the preschool years. How we learn to view successes and failures as youngsters can have a profound effect on how we deal with challenges later in life.

When in a preschool classroom, I would frequently make a deliberate mistake, spill my juice for example. Then I would exclaim, “Oh look what I did! I spilled the juice! Oh well, I can’t learn if I’m not willing to make mistakes!” Then I would calmly clean my mess and move on.

If you are parenting a young child, this kind of lesson is critical to their future success. They must internalize the concept that wrong answers are merely stepping stones to right ones. The fear of being wrong, or looking foolish, can be overcome when the child understands that the act of taking the action is what’s important. Give your child this gift of understanding on a daily basis.

Famous successful entrepreneurs will say things like “you fail forward,” in other words, failing is merely a step to success. This belief system is what allows them to move beyond disappointments.

Your Mindset Influences How Others See You

When I was in seventh grade, I attended the Westlake School for Girls. I had to take several placement exams to be accepted into the school. Due to some kind of clerical error, even though I had tested out as “gifted” on all of the tests, I was placed on the “C” track, which was for children who were what was then described as “slow.”

As I sat, day after day staring at the same page in my French book, my mind would wander. The teacher would ask a question and I would have no clue as to what she had been talking about. She would impatiently tell me to try to stay focused and I felt dumber and dumber. I can remember thinking to myself, “I used to be smart. I wonder what happened.” At the first grading period came to a close, I was failing every one of my classes.

My parents came in and met with each of my teachers one by one. The first one up was my French teacher. She gently tried to explain to my parents that some children simply do not have the capacity to learn another language as evidenced by my inability to concentrate in class. My father asked if she had ever spoken to me in French and she replied that the class was no where near ready to attempt actual conversational French.

“Ask her a question in French,” my father prodded. So the teacher reluctantly asked me what I had done the night before. I still remember her facial expression as I rattled on about the television show I had seen and how my roommate at school had gotten into trouble for not doing her laundry. You see, I was fluent in French. But the teacher never knew that because she believed I was incapable of learning a language. And despite my fluency in French and Italian, I came to see myself as incapable as well!

This is the power of our minds. We will live out the experience we envision for ourselves. Just as I was convinced in a very short period of time that I had somehow lost my learning abilities, things can be turned the other way as well. Lead a learner of any age to believing in their own ability to achieve, and achieve they will! Encourage creative thinking, seeing failure as part of the adventure on the way to success and you will have possibly fostered the mindset of a future successful entrepreneur!

And With Its Head He Went Galumphing Back

This line from Lewis Carroll’s Jabberwocky was in the coded telegram my father sent to my mother when he closed the deal that was the beginning of IDC.

Even with a full scholarship, my father was unable to attend college not only because he couldn’t afford the textbooks, but because he couldn’t attend school and support his parents and four siblings at the same time. Through highschool, he wore the same checkered slacks every day that all his peers knew had been given to charity by one of the rich students in the community. His family spent one summer eating nothing but potatoes and his baby brother literally died of starvation in his arms.

But he had a vision. Working as a bookkeeper for Drilling and Exploration Company in the states, he could see the need for international relations in the oil drilling world. He was instrumental in helping to heal the strained relationship between the US and Japan when Japan had to battle an oil rig fire that threatened to burn up its oil resources. My father convinced two Americans, world renowned as the best in the business for putting out oil rig fires to offer their help. Fifty years later, there are still news clips shown on this historic event and the role my father played in it.

Pretty good for a small town boy from Guthrie, Oklahoma.

How To Develop the Mindset of Successful Entrepreneurs

Are you lacking the self-confidence you need to make your business a success? Are you overwhelmed with all the training materials, tax laws, internet strategies, marketing materials to be mastered? Is it keeping you from going after what you want?

The first thing to do is to take action. You can refine your goals and strategies as you go, but you have to take the first steps. Lay out a plan for yourself as to what you want to accomplish. Then begin, one step at a time to put your plan into motion. Educate yourself. Keep your goals in front of you all of the time. If you are willing to do the work, learn from the people who have been successful, and lay a solid foundation for your business, you CAN succeed.

See it. Believe it. Achieve it. It’s not just trite rah-rah. It’s harnessing the power of the human mind which is limitless.

Tags: Nicholas Yates on Business, Travel with Nick Yates