I can’t say I’m too hot on playing this again. It’s not because of my previous dismal results – though I’m sure if I was a previous winner, I might be more motivated. It’s really because, well, the game has gotten kinda boring.
It was kinda cool when it first came out. A novelty and all that. There was even a friendly wager going on between a friend and I. But I’m not too familiar with forex trading and it’s more about gaming the game than playing it like a real market – cuz it isn’t a real market; it’s just a derivative of a real market.
So I dunno… I think I’ll sit this one out. Are you going to play it this time around?
There comes a time in every blog that the topic of urinals must come up. Well, maybe not every blog. But certainly this one.
Today, I feel the need to give props to businesses who’ve been installing waterless urinals lately. There’s one in my local public library and I’ve seen a few more around town.
According to Wikipedia, waterless urinals save about 15,000 to 45,000 gallons of water per urinal per year. In a five-urinal restaurant, that would mean 75,000 to 225,000 gallons of water per year. Holy crap that’s a lot of water!
These urinals are also hygienic because they are touch-free. I don’t mean you could eat out of one of these things (God help you if you do), but you don’t have to push any handles to flush it. That puts it on parity with the water-flush touch-free urinals currently out there.
There’s no smell either, in case you’re wondering. How? At the bottom of the urinal is a trap that holds (or “traps”, duh) your urine. A liquid sealant then floats on top of the urine, isolating it from the outside air.
Every new technology is not without costs, however. The maintenance required is replacing the trap and sealant liquid. The traps – or cartridges, as they’re formally known – need to be replaced approximately every 6,000 to 7,000 uses. They cost anywhere from $5.00 to $40.00 each. Sealants cost $1.50 to $2.00 each. And the waterless urinals themselves can cost $400 to $600 each. Couple that with retrofit installation costs, and it can add up a bit.
But it still might be worth it. Annette Stumpf of the US Army Corps of Engineers did an evaluation of waterless urinals (PDF file) and includes some sample cost calculations in her paper. Also in her paper are links to two cost-savings worksheets, one from Waterless and another from Falcon, two manufacturers of waterless urinals.
Then there’s the intangible cost of conserving a natural resource. It’s difficult to put a dollar value to that, but it does count for a tremendous amount. Especially in areas and times of drought.
If you own a brick-and-mortar business (as us web geeks call it; you probably just call it a “store”), consider switching to waterless urinals. Not only could they be a good cost-savings investment, but they could also be good for your local environment and the future of your children’s children.
And with all this talk of urinals, how can I leave off without pointing out some important urinal rules:
This is one of those must-read essays for entrepreneurs. Paul Graham recently wrote a piece called “Why to Start a Startup in a Bad Economy” that I found pretty damn inspiring. His opening lines:
The economic situation is apparently so grim that some experts fear we may be in for a stretch as bad as the mid seventies.
When Microsoft and Apple were founded.
If you’re feeling any doubt about these economic times, that opening ought to shine a ray of hope on you. A lot of companies have started in tough economic times.
From Don Dodge: great talent is more available, raising money is still possible (though a bit harder), and supplies are cheap.
From Fabrice Grinda: there will be fewer competitors right now, decrease your burn rate, and be patient.
From Robert Scoble: have a business model that helps customers save money, diversify your customer base, look for new distribution channels, etc.
All are good ideas and worth considering.
I’ve also got more tips on how your small business can save money during a recession. It’s totally possible, it just requires more operational & financial discipline. And take heart – you could be the next Microsoft (MSFT) or Apple (AAPL)!
Although the Amazon Kindle costs $359, Oprah looks at it as an environmentally friendly investment. “I know it’s expensive in these times, but it’s not frivolous because it will pay for itself,” she says. “The books are much cheaper, and you’re saving paper.” All books are $9.99 or less.
Great observation. Not only will the Kindle save you money in the long run, but it will save the environment. What more could you ask for?
I know – you could ask for a discount. So for the next seven days, you can purchase one for a $50 discount if you type in the code: OPRAHWINFREY
Nice.
Although some people have poked fun at Jeff Bezos having bribed Oprah, my friends who are devote Oprah fans assured me that she is above all forms of bribery and gets thousands of free gifts, solicitations, and wannabe bribes every day, so why would she take Bezos’ bribe and not others? Then the devote Oprah fans scorned me for having testicles and plopped in front of the TV to watch more Oprah.
(Just kidding!)
Jeff Bezos is even appeared on Oprah to talk about the Kindle and “Oprah was so effusive that Bezos, sitting next to her, barely got a word in edgewise.” Which might be a good thing, because Bezos might have gotten so excited about the Kindle that he would have jumped into Oprah’s couch. Heh.
Speaking of saving & making money in a recession, entrepreneurs can do it too. It requires some financial discipline, but it’s certainly possible. Countless businesses and smart entrepreneurs have done it. You can too.
Here’s how:
Buy Cheap
Prices fall in recessions. That means it’s a great time to go shopping for cheap supplies, raw materials, and services. Outsourcing sites like Elance and oDesk can help you find lots of affordable contractors. A year ago, I saw software developers on Elance going for $40/hr. Now, the cheapest ones are $12/hr. The downside is that quality can vary significantly. So caveat emptor.
Renegotiate Your Vendor Contracts
This is a good time to renegotiate all of your vendor contracts for lower prices. Chances are, many of them will be willing and able to lower their prices to keep you as a customer. Try to lock in these prices with long-term contracts too (assuming you’ve got enough in the bank), so you can benefit from these lowered prices when the economy improves.
Hire the Best
It’s layoff season. That means there will be a lot of good talent on the streets. Look for them and woo them. Do everything you can to keep those smart individuals around, so that they’ll continue being there after the recession. It’s a great time to find great talent.
Learn Financial Discipline
Tough times call for strict discipline. This is what separates the script kiddies from true programmers, the boys from the men, the girls from the women. Learn how to bootstrap, trim the fat, and make smart choices. Ask yourself how each decision will benefit your business. Don’t just focus on the short-term either, tempting as that will be. The financial discipline you’ll learn now will benefit you when the economy rebounds.
Impatient for Profits, Patient for Growth
Though this is very counter-intuitive to many Web 2.0 companies, the book The Innovator’s Solution advises entrepreneurs to be impatient for profits and patient for growth. This, in my humble opinion, is great advice. If you don’t have a real business model, you don’t have a real business. At best, you have an “Acquire Me!” business, which is a horrible model, especially in a recession.
Negotiate Your Credit Card Rates
This tip works for both personal and business credit cards. Lots of credit card companies will give you a lower interest rate if you just ask. So ask! Every little bit of savings can help.
Look Into Recession-Proof Businesses
Some industries aren’t as affected by recessions as others, such as health care, funeral parlor, debt collection, and repair services. Repair services are good because people want to maintain what they have instead of buying something new. If your existing business can be extended into any of these areas, give it some consideration.
Be Creative
Be creative about your marketing, your products, and your services. Think outside the box for new customer solutions. As you increase your financial discpline, you should also increase your creative solutions. Perhaps it’s engaging in a catchy PR campaign or creating a viral marketing piece. Or a streamlined development process or distribution channel.
Treat Your Customers Very Well
If you aren’t getting any new customers, treat your existing customers really well. (Honestly, you should be doing this already.) Any practices you start here could be the start of new customer service practices later. Customer loyalty will come in very handy at a time like this.
Prioritize, Prioritize, Prioritize
Finally, be strict about your true priorities. What is absolutely critical to you? Every decision you make has trade-offs. If you really want those product features or direct mailers, think long and hard about the trade-offs you’ll be making – more design & development time in creating the feature or more design & supply cost in creating the direct mailers. Make a strict priority list and stick to it.
Another benefit of a recession is seeing weaker competitors drop out of the race. Businesses who don’t learn financial discipline won’t survive. So if you have a spend-happy competitor who’s been creeping into your market, don’t worry – they’ll soon be gone.
Do you have any other money-saving tips for entrepreneurs?
Much of what I hear about the economy today is doom and gloom. But personally, I’m hopeful. The market is cyclical. It’s always been this way, for as long as it’s been around. That means it’ll rebound someday.
In the meantime, there are ways to take advantage of this falling economy. There are lots of ways to save money – and even make money!
Here are 10 tips on how to do that:
Short Sell the Market
Short selling is a method of making money when something loses value. For instance, you could “short” a stock and make money when its stock price falls. And as you can see, lots of stock prices are falling right now. However, the SEC can sometimes place temporary restrictions against short selling, which it did earlier this season.
Buy Low
Prices fall in recessions. That means you can make some great buys at great prices! Assuming you’ve got the money, of course. But if you do, this is a fantastic time to pick up some choice stocks. Then, when the market rebounds, you can sell those stocks for a tidy profit. Buy low, sell high!
Negotiate Your Credit Card Rates
Lots of credit card companies will give you a lower interest rate if you just ask. It helps if you have a good credit history and have been a long-time customer though. But even saving a few ounces of a percentage point can add up in the long run, so it’s worth asking. Then, if you must use a credit card, use those with the lowest interest rates first.
Trim the Fat
Review your bills and pay attention to where you could tighten up your belt. You might be paying a recurring fee for something you don’t really use. Maybe your barely-used gym membership could be ditched in favor of joining a weekly running group. Or maybe all those extra cable channels aren’t really necessary.
Buy Used Items
If you can make do with a used item instead of a brand-spanking-new one, do it. Lots of people are selling their stuff now – especially on eBay (EBAY) and Craigslist. That means lots of potentially great bargains. A recession is a great time for bargain hunting and finding cheap, high-quality stuff.
Sell Your Stuff
And speaking of used items, if you have a bunch of stuff lying around that you’ll never use, sell it. If there’s absolutely no more use for it, why not squeeze a buck or three out of it? The downside is that you won’t be able to fetch as great a price if the economy was better. But if you need cash right now, this can help. You’ll be able to clean up some of that clutter in your room too.
Buy Bulk
You can often get more value for your dollar if you buy from wholesalers and discount warehouses like Costco (COST). If you’re a single person living alone, this might not be worth it because of the annual fees, but if you’re in a family or multi-person household, the savings can add up over time.
Do It Yourself
There are lots of things you can do yourself. Wash your own car, make your own lunch, fix your own plumbing, etc. Search online or check out your library for a do-it-yourself guide for any task. You’ll gain the added benefit of learning new skills too. The downside is that this can take up a lot of time, which may not be feasible for everyone.
Do Free Activities
There are lots of ways to spend your time without spending a dime. I’ve got a long list of free stuff to do in San Francisco. I’m sure there are similar lists for your city too. If not, some common options are parks, museums, and art galleries. And if you love to read, check out your local library too.
Prioritize, Prioritize, Prioritize
Finally, be strict about your true priorities. What is absolutely critical to you? Every decision you make has trade-offs. If it is absolutely necessary that you splurge on that new sofa, then you’ll have to hold back on dining out every Friday night. Or, if money is that tight and simply putting food on the table is a priority, then cut back on all family vacations.
I hope these tips help. Do you have any more money-saving or money-making tips?
When I get to that Internet, I’m click on just about everything in sight. Might even click on a pop-up ad, just for the heck of it.
Ha! Gotta love Trey Parker and Matt Stone.
Check out that hilarious clip or watch the full episode online for free! Gosh, I sure love the Internet. Hope it never goes down for me, I sure don’t know what I wou
There comes a time in every blog that the topic of urinals must come up. Well, maybe not every blog. But certainly this one.
