Monthly Archives: January 2018

Part of the Pack or Part of the Herd?

Which approach best fits your style of running your small business? Are you more part of the (wolf) pack or do you align with being part of the (sheep) herd? Other than the obvious, what really is the difference? From a business standpoint, plenty. And your business results are predicated on your choice.

A pack mentality has a distinct hierarchy where every wolf in the pack has a place in order behind the strongest leader. When the leader of the pack decides it is time to attack the prey of choice, each wolf has a role in bringing down the chosen target and they operate as a team functioning with a singular goal. They are swift, efficient and have a common end in mind.

A herd mentality is led by the will of the majority. There is no strong leader and roles for the members. Each member acts on the actions of their neighbors. There is no focused effort. A herd is frequently looking for individual survival and is driven by its own impulses.

Which of these animals are more likely to be the predator and which are more likely to be the prey? The same could be said for your business.

A “Pack” business has a strategic focus where employees are fully aware of the company goals and the roles they play in bringing those goals to fruition. They have a solid leader for others in the pack to follow and take their cues from. Like an animal pack, the business pack has a predatory focus – taking down the competition, feeding the pack (bringing in new business) and refining their techniques to improve their effectiveness.

A “Herd” business is typically led by a soft leader who doesn’t offer much in the way of direction of the business other than trying to keep the doors open and secure a small bit of profit based on the swings of the economy. The rest of the herd has little respect for the edicts of the leader and frequently do as they wish, regardless of how it impacts the herd.

A “Pack” business has better sustainability in difficult times and can engage in total effort to benefit the entire pack. A “Pack” business also easily recruits the best talent available because top talent understands having specific goals and results they are trying to achieve.

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3 Digital Asset Investment Strategies

As the masses are just now learning about digital assets and the exciting world of cryptocurrencies, I see many cases of FOMO (Fear Of Missing Out) causing people to jump onto a fast moving ship in volatile waters with no idea where it is going.

Breathe. Cryptocurrency is not a fad. It is a change in monetary and investment paradigms that will truly shift how we think about our investments as the Internet shifted how we think about shopping. (Get any Amazon deliveries over the holidays? Of course you did!)

So, treat your foray into this crypto-verse like any other investments you have – with a strategy. Unlike the well-established stock markets, this is highly speculative, and I recommend getting involved only with money you can afford to lose.

Strategy #1: Invest in the long-term. This is a buy and hold strategy you probably already use in your retirement savings. You (or a broker you trust) makes mutual fund or stock purchases for you, and hopefully you watch it grow over time. Same philosophy for your digital assets.

Make an informed, smart purchase and hold on to that investment and hopefully watch it grow. This is what I am doing with my Bitcoin. I made a purchase and I have it stored for the long term in order to watch my investment grow over time.

Strategy #2: Short-term investing. This is a more aggressive play in the market place. This strategy is to identify under-valued coins and ride them up to a point where you decide you want to sell and take your profits. There are thousands of coins in the digital asset arena and more coming out every day through initial coin offerings (ICOs). This is the opportunity for speculators to research these new coins and find one they believe they can ride up in price. Obviously, this is highly speculative and requires hours of research and a gambling mentality. I have a much smaller position in this strategy.

It is also a way to make some fast money if you are lucky enough to time it correctly. For example, Ripple has been meteoric in the last 30 days. I imagine there will be some profit-taking very soon and the price will drop; however, investors will make a nice return on their short-term investment.

Strategy #3: Revenue-generation investing. A revenue investor, or sometimes called a day-trader, makes a job out of watching the variability of the market place looking for pure revenue generation opportunities through timely buys and sells. Revenue-generation traders have a dollar amount in mind they want to make monthly that they can remove from their investments to cover their home expenses. This can be time-consuming. More so, during downturns in the market or when speculative plays go bad, this strategy can be kind of scary, not making enough revenue to cover your income needs. These investors like to play the pump and dump game (watch the coin spike (the pump), then sell it off for a quick profit (the dump).) This is truly a eat-what-you-kill type of investment strategy and not for the faint of heart.

By all means, now is a great time to get involved in this new marketplace. Stay within your comfort zone, start slowly, and find a strategy that works for you.

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