Tag Archives: Economy

Will Your Company Require Vaccinations Monday? U.S. Supreme Court Could Decide Soon!

It’s possible that a decision may come as early as Monday when the Emergency Temporary Standard is set to go into effect.

BY SUZANNE LUCAS, FREELANCE WRITER@REALEVILHRLADY


Business owners and HR managers who have 100 or more employees got a little closer to a resolution over the Occupational Safety and Health Administration’s (OSHA) Emergency Temporary Standard when both sides argued before the U.S. Supreme Court today.

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The standard requires employers with 100 or more employees to either mandate vaccinations for all or to require your unvaccinated employees to take weekly Covid tests and wear a mask unless they work alone or 100 percent outside, among other things. But the objections center around these two principles.

The Sixth Circuit Court lifted the stay on the standard on December 17, and if the court doesn’t reenact the stay by Monday, it will go into effect on Monday. They may give a quick response, but not entirely necessary from an employer’s point of view. OSHA said that as long as companies are operating in “good faith,” it will not begin enforcement until February 9, giving the court a bit more time to decide.

While the briefs tend to be a more substantial influence on the justices than the oral arguments, you can get some idea of what to expect from them. Here’s what you need to know:

The Possible Outcomes

OSHA attorney Phillip Russell, an equity shareholder at the employment law firm Ogletree Deacon, gave four possible outcomes, each with its own set of issues for business owners.

  1. SCOTUS enters an indefinite stay pending further action by either SCOTUS or the 6th Circuit;
  2. SCOTUS enters a brief stay for the Court to further consider the briefing and oral arguments before addressing an indefinite stay;
  3. SCOTUS denies the applications and allows enforcement to begin as OSHA wants on Monday, January 10; or
  4. SCOTUS denies the applications and allows enforcement to begin, but enters a brief stay giving employers time to comply

In other words, a quick decision may not be a final decision. There may be a lot more before a final decision happens.

Opinions Seemed to Form Along Ideological Lines

Covid has been political for a long time, and those political lines seemed evident in the hearings. As an employment attorney and partner Jon Hyman at Herzer Wickers Panza says:

Based on the tone and tenor of the questions, there exists a clear, and not unsurprising, left/right divide on the court, which does not bode well for the ETS going into effect. I don’t see 5 votes against reinstating the stay.

For example, Justice John G. Roberts Jr. (appointed by George W. Bush) and Justice Neil M. Gorsuch (appointed by Donald Trump) both indicated that federal agencies were not the right place to solve the pandemic, while Justice Elena Kagen (appointed by Barack Obama) and Justice Stephen G. Breyer (appointed by Bill Clinton) indicated that the employees of the U.S. needed this mandate.

While it may be fun to guess which way the justices will rule based on what they say, it’s important to keep in mind that a statement made or a question asked in court may simply be a thought exercise, and not the justice’s true opinion. Regardless, there seemed to be a clear division along political lines.

What’s at Stake

While it may seem like this is a battle between pro-vaccination people and anti-vaccination people, that isn’t the case. A Court spokesperson said that all nine justices were vaccinated and had received booster shots. This is a case about federal power, versus state power, and who should be responsible for employee health.

U.S. Solicitor General Elizabeth Prelogar argued that even though Covid is a threat outside as well as inside the workplace, OSHA could still regulate that hazard.

Washington lawyer Scott A. Keller, representing the National Federation of Independent Business, argued the opposite, saying “[A] single federal agency tasked with occupational standards cannot commandeer businesses economy-wide into becoming de facto public health agencies.”

While this ruling will ultimately affect some 80 million employees, it doesn’t cover all employees and all businesses. Meaning, the U.S. could end up seeing vast differences in Covid rules for different organizations.

Hopefully, the ruling will come quickly and be decisive, one way or the other, but it’s likely that businesses will still be in limbo for a while.

 

JAN 7, 2022

 


How Real-Estate Investing Is About to Get a Gen Z Makeover

 

Real-estate investing locked whole populations out, but Zoomers are finding a new way in.

By November 7, 2021Opinions expressed by Entrepreneur contributors are their own.

As Gen Z comes of age, they’ve made a name for themselves by questioning the legacy systems previous generations have accepted as the norm.
But, Zoomers do more than cast shade at their predecessors. They demand better. If something is broken, they will push to fix it.

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Their influence is causing seismic shifts across industries from luxury retail to transportation.
And with Gen Z’s purchasing power expected to grow to $33 trillion over the next decade, it’s no wonder marketing, political and entertainment sectors alike are paying attention to them.
Now Gen Zers are shifting their focus to industries that have locked them out, like real estate investing.
In the United States, commercial real estate is rebounding quickly to pre-pandemic levels.
Meanwhile, commercial real estate in Canada is on track to post a record of nearly $50 billion in investments this year.
But while Zoomers want to own a home, as the millennials before them, the cost of entry is too high.
The average price of a home in the U.S. soared by an unprecedented 24%.
Here’s how Gen Z is finding a way in and revolutionizing real-estate investing in the process.

Related: 10 Pieces of Financial Advice I Wish I Knew in My 20s

They’re redefining home ownership

Zoomers have watched millennials struggle with a wage gap that’s made home buying in its traditional sense, unattainable.
Compared to Baby Boomers at the same age, millennials own eight times less American real estate and spend 39% more on a first home. Faced with the same challenges, Gen Z is marking their fate by redefining what homeownership means.
Instead of purchasing a home to live in, they’re leveraging crowdfunding and the sharing economy to take ownership in houses, buildings, and even commercial properties for as little as $1.
Simply put, they’ve realized being a homeowner doesn’t mean they have to live where they’ve invested.
In fact, there are advantages to not going all-in on one property.
In traditional homeownership, the process is stressful, drawn-out, and brings heaps of responsibilities like mortgage payments, property tax, maintenance, and insurance.
By not living where they invest, Gen Z is realizing the benefits of a lucrative long-term investment without giving up the freedoms they enjoy now: tickets to an unforgettable concert, a closet full of luxe yet sustainable fashion, dinners out, travel, and the latest gaming system.
They get the capital appreciation while someone else deals with landlord responsibilities.

Related: This Multimillionaire Millennial Shares the Top 3 Business Mistakes His Generation Makes

They’re prioritizing transparency and community

Realizing real-estate investing is no longer reserved for the wealthy elite, Zoomers are bringing the market out from behind locked doors and into the community.
The pandemic helped spark new interest in investing. Confined to their homes and concerned about their future, young investors took to their devices to educate themselves and make their money work for them.
Instead of looking to legacy financial institutions for help, Zoomers are building online communities on Reddit and Discord and using their influence to educate their peers on what they learn on TikTok.
These online communities allow Gen Z to ask questions in a way they’re comfortable with, lurk and engage on their own terms.
Ever-mindful of the power of tech to disrupt how things have traditionally been done, they are using the internet to democratize investing and bring their peers into the fold.
Transparency is the priority and authority takes a backseat to the community.
Under Gen Z’s influence, exclusivity is out; inclusive investing is in.

They’re sharing the wealth

Gen Z wants everything from their employers to their purchases to reflect their values – and real-estate investments are no different.
Instead of thinking of how their purchases can benefit themselves, they’re looking at how they can benefit others and the world around them.
I saw this recently when a community of young investors teamed up to invest in a 105 unit rental in Mission, British Columbia. Designed and built for long-term rental housing, it will also include 11 affordable housing units.
Consumption is being redefined as an act of activism, changing the world through purchase power – and that’s a good thing.
When people are shut out from an entire market, they get the message that the future they dreamed of isn’t possible.
Feeling like you can never get ahead takes a toll on mental well-being. But it can also create broader societal disillusionment.
I’ve heard from people who have detached themselves from local politics, quit watching the news, and no longer exercise their civic right to vote.
But that’s changing with Gen Z. Indeed, 66% believe communities are created by causes, not by things like economic background or level of education.

It’s not an option to keep up business as usual.
Let’s face it: The path to property ownership was due for a makeover.
For too long, entire populations have been left out of real-estate investment.
But ready or not, thanks to the cultural shift demanded by Gen Z, that’s changing.
If we follow their lead, we can look towards a future where ownership is possible for anyone who feels compelled to invest in their community.

Related:What’s Next for the Unluckiest Generation?

Mike Stephenson

WRITTEN BY

Entrepreneur Leadership Network VIP

Mike Stephenson is co-founder and CEO of addy, which is focused on making real-estate investing accessible to everyone.

 

Contact MEK Enterprises Blog Here for Article Suggestions and Inquiries!

 

How to Stop Selling and Start Building a Business

Originally published on Aug 26, 2021

By Paul Cowan


The Day I Stopped Selling and Built a Business

The advertising agency I’d joined was the most competitive and ambitious in London. Building business was hardwired into every one of us. Competition with other internal teams as part of the process. Jumping to the top of the queue above other teams for the next new business prospect gave us more opportunities for winning new business. We were trained to present, to sell, and sell again and again. And I was desperate to succeed.

Failure could be challenging. Our creative teams could be fearsome to deal with. Emotions ran high — sometimes way too high, with unpleasant consequences. I planned to stay for a year or so. But twelve years passed quickly, and I ended up running a big group. The rewards for those of us who succeeded were good, but I wanted more.

I took a big, big risk and started a breakaway agency with seven colleagues. With a full team and a great office in the center of London, we had a stupidly large overhead from Day One. We also had no client and no income. We had to sell to survive. Every single opportunity, every new business prospect, however small, was critical. Our family houses, the school fees, the grocery bills, and everything we owned depended on winning business.

We were good — mostly, very good. Even if we lost a new business pitch, we didn’t give up. Sure, this irritated some prospects, but mostly they appreciated our hunger.

Every idea had to be sold and nurtured. Every opportunity, however small, is exploited. Our lives and our families depended on it. And at the end of the first year, we broke even. Our bankers were so amazed they threw us a private lunch to celebrate.

Then times got edgy. We had big debts. We restructured, redoubled our efforts, and focused harder on winning business. We survived — and produced some outstanding work.

After years and years of selling the agency to prospects, to staff, stakeholders, and selling work to clients, I realized something. I was dog-tired. I was exhausted from filling the leaky bucket of revenue over and over again. I knew it was time to merge my agency and get out. I stopped selling.

New Business. No Selling

After a stint at business school, I was back in business, but this time, on my own. I had no website and no nameplate in my office. I was invisible, and I didn’t sell. I just told past clients and colleagues what I was planning and doing.

For four months, the phone was quiet. Then it rang. I met with the prospect — and instead of selling and telling him about my offer, I just asked questions about his company and what problems required attention. I checked the size, importance, and cost of those problems.

He was interested in working with me, and I was interested in working with him. I wrote a two-paragraph summary of how to tackle the issues and added a price range. It was large and provided good value.

And the phone continued to ring, despite no website, no marketing, no sales activity, and no long submissions. I refused to write submissions – only one-page outlines. I just asked questions.

“Telling is not selling. Only asking questions is selling.” – Brian Tracy

Really. No Selling.

A few years later I co-founded The Client Relationship Consultancy. Again: no website, no marketing, no selling. I met with past colleagues and explained our philosophy. We made them sign a two-way NDA — we would never talk about them, and they would never talk about us.

But they wanted to work with us. As clients moved to new agencies, the word spread and we got more calls. These new prospects wanted credentials presentations. I explained that I would tell them about our business for less than sixty seconds, and about our philosophy and approach for four minutes. At that point, if they did not agree with our approach, we could cut short the meeting and I might be able to suggest others who could be a better fit for them. But no one ever said that. And we still had a two-way NDA.

We never chased after a meeting. If I thought a prospect would not be right for us, I would decline their business. Occasionally, existing clients wanted to do things differently. If whatever they suggested failed to meet our philosophy, we refused to work with them.

I loved this new way of carrying out business. I felt re-energized. And our clients stuck.

To my business partners’ intense irritation, I refused to set annual targets. I did not want to feel that I needed to sell. But over sixteen years, our business grew and grew — to offices and consultants in London, Windsor, Boston, Mexico, Munich, Singapore, and Sydney. Still no website. Still no new business or marketing activity. Still a two-way NDA.

Why It Worked

Why did this approach work? Not having objectives for sales, and not selling, meant that I had a powerful position, equal to that of a prospective client. I could relax. As a result, so could the client. We were able to have adult-to-adult conversations. The prospective clients became less defensive, and more open to me. They were comfortable disclosing deeper, underlying issues.

Both parties had the opportunity to ensure that the ‘fit’ between was tight. Both sides had the chance to ensure that our beliefs were in synch. The result: long-term, enduring relationships, and no leaky buckets anywhere.

RELATED:

How to Sell Anything to Anybody – business.com


How to Work Remotely and Succeed

How to Work Remotely and Succeed

Does Remote Work Really Work? 4 CEOs on the Future of Their Workplaces

BY CHRISTINE LAGORIO-CHAFKIN@LAGORIO

Is work … a place? Founders are divided on whether to return to their old way of doing business.

Founders and executives around the globe have taken lessons learned over the past year to inform their view of what their workplace will look like in the future. At this week’s Collision…

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5 New Habits to Help You Cultivate a Growth Mindset

5 New Habits to Help You Cultivate a Growth Mindset

How To Cultivate a Growth Mindset!

Originally Published on Apr 3, 2021

By Samantha Madhosingh

As we raise children, we often teach them that grit, perseverance, and resilience lead to mastery and success. They do. But what are we teaching them about their intelligence and capacity to learn?  When children believe that they have been born with predetermined skills and abilities or with a fixed…

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If You Want to Be a Successful Entrepreneur, Take Note of These 7 Lessons

If You Want to Be a Successful Entrepreneur, Take Note of These 7 Lessons

While everyone seems to have a good business concept, few ever execute their ideas successfully.

By: Alejandro Saracho

One of the main objectives of creating a business is related to the generation of wealth: for the environment, for society, and for the business owner.

The generation of wealth is related to money and its correct management. Many entrepreneurs start their business as operators…

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How To Face Fear and What It Means to Grant Cardone

How To Face Fear and What It Means to Grant Cardone

What Does FEAR Mean To You And How Do You Face It?

What does FEAR mean to you and how do you face it?  Everyone feels fear. I do. You do. Everyone. The only difference is how we each react to fear. I’ve always thought that fear has two meanings which sum up the two basic ways people deal with this unique and complicated emotional state. FEAR can mean:

Forget Everything And Run

Or it can…

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5 Reasons Why Starting Small is the Key to Success

5 Reasons Why Starting Small is the Key to Success

Essential Reasons Why Starting Small is the Key to Success

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Published on Nov 8, 2020

ByShawn Lim

“The man who moves a mountain begins by carrying away small stones.” This is one of the famous quotes from Confucius. And the success principle within this line explains how anyone can achieve anything they want if they are willing to put in small and consistent effort. 

You…

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How To Survive and Thrive During the Pandemic of Covid 19.

How To Survive and Thrive During the Pandemic of Covid 19.

 

Starting a Business from Home is the Only Way to Survive and Thrive During the Pandemic of Covid 19.

Dateline: Creve Coeur, MO. USA.

By: Jeffrey L. Klump 10/03/2020

The world is much different than it was just one year ago.

People have gotten use to the new vocabulary such as “social distancing” and wearing masks.

Regardless of what…

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“This Is Nuts” – Why One Asset Manager Reduced Risk On Friday

“This Is Nuts” – Why One Asset Manager Reduced Risk On Friday

“This Is Nuts” – Why One Asset Manager Reduced Risk On Friday

Authored by Lance Roberts via RealInvestmentAdvice.com,

Market Review & Update

When you sit down with your portfolio management team, and the first comment made is “this is nuts,” it’s probably time to think about your overall portfolio risk. On Friday, that was how the investment committee both started and ended – “this is nuts.” 

We…

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