How to Ru[i]n a Business

The post originally ran on the Hermit Haus blog because that is where we talk about running a business. It derives from efforts on behalf of our new non-medical, personal assistance company, Hearts Homes Hands.

This post originally appeared on the Hermit Haus Redevelopment website on 2019-09-28. A slightly edited version also appeared on the Hearts Homes Hands blog.

Over the past few weeks, our sister company, Hearts Homes Hands (Hearts, for short) has been trying to get some promotional items with the lovely helping hands logo embroidered on them. Since Hermit Haus has previously purchase such items from the big online vendors, we knew that the quality of the items they provide tends to leave a bit to be desired. So we decided to buy the shirts from Lands End and have a local company embroider them. This decision provides the quality we like while supporting local businesses, a win-win.

Based on our experience so far, here are a few rules to follow if you want to avoid doing business.

Don’t Have the Equipment

Our first call was to a local tailoring and alterations business. It was a long shot, but we like her, so we wanted to give them the business if we could. Unfortunately, they don’t have the right sewing machine for the embroidery work. That’s not really surprising, since it isn’t their core business. It’s not a big deal, but it does keep them from expanding.

They did refer us to another local business that does. They just didn’t tell us that’s what they were doing.

Don’t Follow Through on Commitments

The owner of the second business actually did have the equipment and called us at 9:00 o’clock on a Saturday night (impressing us with their dedication) to say they would call on Monday to talk about the details. They didn’t. We did get an email Monday night saying they would be in touch with us on Tuesday. They weren’t. Nor did they answer when we called back the original number.

Don’t Provide Contact Information

We then set about looking for another local business to do the work for us. We found a Facebook page for one with no phone number and no email listed. See the previous “rule” and guess what happened to our FaBoo messages. How are you going to get new business if you make it impossible for your customers to contact you? You don’t have to answer the phone yourself, but somebody needs to.

Don’t Have a Physical Location

Now you may think that brick and mortar operations are passé. It so, why did Amazon buy Whole Foods? Why does Google have so many offices throughout the country for Google Fiber and their other marketing ventures. No, if you’re going to have to interact with your customers—especially if you rely on local customers—you need a place to do it.

The result of all this is the Hearts leadership team is going to our first industry event without clothing to identify us to potential customers and referral sources. Sigh. Anybody have a Sharpie?

Aging Well

Ursula K Le Guin started blogging—mainly about aging—at 81. The blog was excerpted into No Time To Spare: Thinking about what matters. Photo by: K Kendall on flickr. This file is licensed under the Creative Commons Attribution 2.0 Generic license.

This file originally appeared on the Hearts Homes Hands aging blog on 2019-09-24

While we will talk about the business of running Hearts, Homes, Hands and providing in-home, non-medical elder care once we start accepting clients, that’s not the only purpose of [the company] blog. We want to share things we learn about the aging process and how to help live your life to the fullest as you age. And unlike other businesses, we hope to help you never become one of our clients.

So here is a look at some other blogs:

10 Bloggers Who Make Aging A Whole Lot Easier

As the title says, Huffpo lists 10 blogs, mainly run by journalists, that deal with aging well. One of them might suit your needs.

The Age-Well Project

Annabel Streets and Susan Saunders literally wrote the book on The Age Well Project. Their blog discusses their ongoing journey into elderhood.

Ursula K. Le Guin

Le Guin, was one of my favorite authors growing up. Unfortunately, she died last year, as we all eventually must. She started blogging at 81, and her writings continue to inspire me. I often quote he response to the misguided saying, “You’re only as old as you feel.” She responded, “If I’m ninety and believe I’m forty-five, I’m headed for a very bad time trying to get out of the bathtub.”

Just Be Careful

A Ponzi scheme uses the investments of later participants to fake profits to earlier ones. Sooner or later, all Ponzi schemes collapse from their inability to generate enough new investment to pay older investors.

This post originally appeared on the Hermit Haus Redevelopment website on 2019-09-23.

There’s been a cautionary tale running around the news this week. It makes me think of something the Oracle of Omaha once said. “You cannot build a good career with bad people.” This statement has been interpreted as “You can’t make a good deal with bad people.”

I don’t know enough about Clayton Morris to make a value judgement on his character, although his career as an entertainer on Faux News does not earn him any brownie points in my book.

Morris left Faux News to form a turnkey investment company that buys, renovates, and manages rental properties for investors. There are a number of companies that do this job well, but you are always taking a big risk when you invest in a property you may never see.

I’ve linked to a short podcast that discusses the story. You can read more details in this NY Times story, which describes the numerous lawsuits against Morris—one in federal court.

Here’s the audio.

A couple of points:

• Real Wealth Network, which produced the podcast, may compete with Morris in some markets. I can’t tell because Morris Invest does not list the markets in which he is active. Real Wealth does.
• Being sued does not necessarily mean you have done anything wrong.
• But leaving the country in the midst of a law suite does not inspire confidence.

When you’re investing, failure to distinguish between fake data and facts can cost you big time. Celebrity is not the same thing as legitimate credentials. Photo Source: kenishirotie Licensed through Envato

Protecting Yourself

So, how do you know if you can trust the people you’re investing with. Ultimately, that’s something you can never be sure of, but there are a few things you can do.

Due Diligence

Due diligence is a legal term that simply means being careful. Before you invest, find out everything you can about the people you’re thinking about investing with. Just be careful.

Their Experience

Never risk your money with inexperienced people. Have they been in business long enough to establish a track record? Look for previous projects they have done. Were those projects completed on budget and done well?

The Investor Experience

What have other people experienced when investing with them? Talk to other people who have invested with them—anyone you can find, not just the ones they point you to. Have they paid off on time? Have they communicated well with their investors?

Character

This is the hardest part. Are they good people? I’m not asking if you like them. Con artists are very likable, and “superficial charm” is a trait of most psychopaths.

Their character trumps their experience. Are they good people? Do they contribute to society? Is helping others at the core of their mission? Do others trust them?

But the bottom line is that investing is risky. If you invest carefully, you can expect to make money more often than you lose it. If don’t learn everything you can about your investments, you’re not investing; you’re gambling.

Whether you’re investing or gambling, some advice my older brother a “professional gambler” once gave me still holds true. He said, “Don’t put any money on the table you wouldn’t set fire to and walk away from.” For investing, that boils down to “Don’t invest your rent and grocery money.”

Crustier

This is the brush I currently use to maintain my callouses. It’s easy to grip and has very stiff bristles. My previous brush lasted almost five years. These brushes are a much more frugal way to maintain your feet than one of those dangerous trimmers.

This post originally appeared on the Hearts Homes Hands website on 2016-02-00.

As we get older, most of us get … crustier? I’m not talking about our personalities, although my friends—yes, I do have friends—would tell you I’ve gotten more than my share of that. I’m talking about dry skin and callouses on our hands and feet. Especially our feet. Especially our heels.

Or is that just me?

There are all kinds of products to help trim the callouses that develop on our feet. Most involve some kind of blade. And I’ve known even the sure-handed to get over zealous about trimming and injure themselves.

So, here’s my solution. For years now, I’ve used a simple kitchen brush. It needs to have a good handle so you can grip it easily. A long handle gives more reach, but a short handle gives better control. As I’ve gotten less limber, I’ve come to prefer the longer handled brushes like the one in the sidebar.

First, soak your feet or hands. I use mine in the shower, where I have a bench so I can sit or elevate my feet as I need. A pan of hot water also works nicely. Once the callouses soften, rub them in a circular motion. This action removes the excess skin, but leaves the healthy skin. And because the bristles bend, you don’t have to worry about cutting too deeply.

I hope this tidbit helps.