mrlifeadvise.com, Author at mrlifeadvise.com

Posted on January 2, 2020January 29, 2020 by mrlifeadvise.com — Leave a comment

Never ever gamble as a business owner!.

Hi,Guys, we have had a very hectic 12 week period at mrlifeadvise.

In late June we got an emergency call from a former owner of a 200+ person company that 5 years after the man had left his company to his two children the company was going under.

And he called us in to see if we could use some of our magic to see what was going on.

The company works in manufacturing of industrial parts both as a subcontractor and with their own production line in a very advanced industrial facility.

When the man left the company two his son age 43 and his daughter age 40 today, 5 years ago the company was doing 30m Usd annually in revenue, had a profit of around 3 million Usd.

And they had some reserves of around 4 m Us DOLLARS, which by all accounts should make this a very stable company also for the future.

The workers had been alarming him for a 2 years period, but he had taken those alarms lightly and thought that it was just about the different management style that his very well educated children had.

Compered to his more rough around the edges, a pupil of the so called school of hard knocks, a man that was born dirt poor and who worked 6 days a week for 40 years to build his own business, and by all accounts did a really good job, doing so.

So 5 years after he retired at the age of 70, now 75 years of age, his company has 9 million Usd in debt and the turnover has gone down to 18 million Usd on an annual basis.

So when we where called in to consult in June, we could clearly see that something more sinister that just bad business was going on behind the scenes here.

The son worked as the CEO and the daughter worked as the CFO.

Both had attended ivy league schools starting from Prep all the way to the university.

And because they controlled now the company/ it was theirs so to speak to run but the father still had 51% of the control, but was no longer active at all in the business.

He was mostly travelling around the world, enjoying his retirement.

So a very long story in a bit shorter format is that both the CEO and CFO so brother and sister had become gambling addicts over the past 15 years time, but now with access to big money it has escalated to an unheard of level.

So basically the brother has lost 7 million dollars betting on sports, mainly NBA,NFL and Soccer.

The daughter had been playing high stake slot machines and lost about 3 million dollars during this time period of 5 years.

So what they had been doing was gambling instead of taking care of the company that was left to them, they had a stake of 24.5% each now and was gonna inherit another 25.5% each when the father had passed away.

And they had borrowed money at a very high interest against their stakes in the company.

This was one thing we found out, when we did a forensic accounting expedition.

But what was even more troubling was that they where both spending up to 10 h a day gambling instead of running the company.

In the first 3 years the other workers and mid level management was able to cover their end to keep the business going but after losing two large client over the past 24 months period it all came crashing down on them.

We got both the brother and sister into a separate rehab for gambling addicts where their is a 5 year plan to get them both healthy again.

But the sad part of this story is that it looks like the company will go up for sale to a foreign buyer who will then move all the production and 200+ people will be left without a job to go to in this fairly small town.

If this would have been known 2-3 years ago then maybe the company could have been saved as is!.

But with a 75 year old CEO now, back in his own seat, but with 49% of the company in lenders hands, he do not believe that he can solve the 10 million dollar debt to the lenders by by keeping the company.

We are still always amazed that it is legal to offer an interest rate up to 40% each year as a finance company.

So even if the interest rate on these loans are 24% it is still to high to cover with the current situation.

So the punchline we are coming to is that never ever start gambling when you are a business owner.

It can go very quick , and suddenly you are hocked and you are losing everything you worked so hard to build, in the first place.

We have seen over the years that there are two types of gambling business owners, the one that we saw here in the example above that lost it all, and then there are those who gamble just to the tip of the edge, but never goes over he edge.

But even those who never goes over the edge, create tremendous stress on to their business.

So we know a guy called Brian, who has had a business for over 20+ years and he does the same turnover give or take 15% each year, at around 2 million dollars a year.

We strongly believe that he should do 20+ millions each years with his company.

But the problem is that he gambles to the edge, which means that he takes out so much money that could have been used for investments in new products , R/D, and machinery.

But because he can not stop with the sports betting this is how his life is today and has been for the past 20 years time.

So the lesson is this today!, never ever start to gamble if you are a business owner, and if you are starting a business and you are gambling STOP IMMEDIATELY!, WITH WHAT YOU ARE DOING!.

If there was a way to become a winning bettor on sports-books dont you think that there would be sitting smart people emptying the sport-book companies accounts.

There is studies that shows that in the United states of America their is less than 500 people who be on sports, that makes more than 75.000 dollars a year in net profit.

So that tells you that even if there are a few Billy Walters out there, the chance of you getting struck by lightning is far greater than the chance of you being a successful sports gambler or slot machine gambler.

So do yourself and your employees and your family a huge favor and stop if you are currently gambling and if you are not, then never ever try it!.

Thank you for reading.

Sincerely.

Mrlifeadvise.

Life-coaching — Live and business coaching at its best!

Posted on January 1, 2020January 29, 2020 by mrlifeadvise.com — Leave a comment

MERRY CHRISTMAS AND AND A HAPPY NEW YEAR 2020.

Dear clients and readers thank you for a very productive year 2019 , we have been amazed and also very delighted that our clients have taken our advise to hearth this year.

We have mainly focused on offline clients this year 2019 and during the next year 2020 we will invest a lot of time into our online profile.

We will bring in a new product called management consulting , which is intended for managers of smaller and medium sized business who employee from 10 to 100 people.

Often the management is under a lot of stress from owners/share holders to deliver results, but on the other hand they also need to keep the workers happy.

Because when you are a smaller or a medium-sized company, every worker that quits is an issue and a problem for your business, compared to larger companies like Amazon and similar who has so many workers within the company.

So for you managers out there that is looking for affordable business and personal consulting for you to do a better job and also get a much needed second opinion from a company that will not judge you, but we just try to elevate your game as a manager.

See you again 2020.

We have donated money to 3 different animal rights organisations instead of sending Christmas cards and small gifts.

This year we have donated 8000 Usd to these causes.

Thank you for being a client and a reder to mrlifeadvise.

Posted on January 1, 2020January 29, 2020 by mrlifeadvise.com — Leave a comment

mrlifeadvise, who we are and what we do?.

Welcome reader to our company mrlifeadvise that is a global life and business coaching company.

We specialize in helping out small and mid level business owners,with so called business consulting.

Both on a personal level but also on a business side level.

What separates us from the rest of the pack is that our average age is 70+ years on our businesses and life coaches.

So we have around 5 coaches tied to mrlifeadvise in sitting in different countries around the world!.

So from America,Europe,Asia,South-America and Australia.

We have been working for several years without a website and that is something that we are changing today!.

A lot of customers asked why we dont have a website and give advise there.

And the answer has been that we have been so busy helping people with life coaching and helping out smaller and medium sized business.

And when we are not computer savvy ourselves , it was not something we opted for, until now today!.

We have been specializing in business consulting for smaller business owners globally, for the past few years.

But know we have gone into also helping with relationship advice and business advice in general

We have also a real estate expert working with us, advising on real estate and what first time buyers should really look at.

But he also advises on different markets in the US and globally.

Our in-house relationship expert have been married 3 times and has 6 kids, and has worked as a psychiatrist and marriage counselor for over 35 years.

Our advice if based on our opinion and this should be taken as a secondary opinion to your question or your problem.

DISCLAIMER!. YOU ARE 100% IN CONTROL OF YOUR LIFE AND WE CAN ONLY ADVISE YOU WHAT WE WOULD DO IN YOUR SHOES.

BUT WE LEAVE NO GUARANTEE FOR SUCCESS EVEN WHEN FOLLOWING OUR ADVICE ON DIFFERENT TOPICS.

WE GIVE OUR BEST ADVICE BASED ON OUR OWN LIFE EXPERIENCE FROM GLOBAL BUSINESS, INVESTING, LEGAL AND RELATIONSHIP MATTERS.

So the reason why our life coaches are older than the norm, is quite simple actually.

The more you have lived and the more you have experienced the better advise you can give to people seeking advise.

It is not really a good idea that a 30 year old gives advise on stuff that, he or she knows nothing about because they have not lived enough.

With one exception, which is if he or she is advising on a very specific topic, that they are experts on.

Usually then on social media or related things younger people are better qualified to advise on than older people.

But in general if you want life advise on relationships and family business, it is great if a 75+ year old person who has worked as a counselor for over 35 years time can give you that!.

We will have freedom of speak and we will tell you the truth from our standpoint and how we see things based on our experience from the world over the past 60 years time!.

We do not discriminate or accept any hate on our site or in comment section.

This is a life-coaching/business advising company who always keeps an open mind, which is the only way you can learn new things.

And if you have limited your own mind to hate, or not to pick up new things daily then you are not living a full life!

The smartest people in this world, they learn new things every day and they make mistakes on a yearly basis, and then they learn from those mistakes!.

Among our business advisers we have coaches who have built businesses from 0 to 1000+ people they have lost their companies and built up new ones later on.

We will offer different services for both private people and for businesses.

We will launch these different services during the upcoming 6 months time.

On this sites we will advertise different products and services.

BUT WE WILL NOT ACCEPT ANY PRODUCTS OR SERVICES THAT WE DO NOT STAND BEHIND OR BELIEVE IN.

BECAUSE THE EASIEST WAY TO LOSE YOUR REPUTATION IS TO SELL YOUR SELF TO THE HIGHEST BIDDER, WE WONT DO THAT, WE PROMISE!.

Our prices will be fairly low compered to many other services, and the main reason for this is that we run a slimmed organisation and most of our life coaches who gives advice and comes up with blog posts are all retired by now.

The younger people run the site and the services but the advise comes from the older life/business coaches.

To resonate with younger people we will also use examples from reality tv to highlight behaviour and how we feel that you should react in a situation like that, if you are ever put into a situation like that.

We are an equal opportunity company, but we will very often write advise on the site for younger men ages from 18-39 years of age.

Since there are not that many places younger men can get advise from these days.

Ladies seems to have more friends and more relatives(not all of course) but in general to talk to.

Men are often more alone and can not really talk to co-workers, family members and often the few fridens that they have.

Also men dont stock friends in the same way that a women does in general.

So that makes also more men lonely in the world.

ONE FINAL NOTE!.

We are all huge animal lovers and we always give a part of our earnings to animal shelters.

So please remember that if you are ever buying a product that we promote true a link, or if you buy a consulting service from us around 30-40% will be donated to a local shelter that we mainly support.

This shelter is run solely by donations and free Labour so we try and do drives for them every year.

They usually find new homes to around 150 abandoned or born in the wild Animals.

Thank you for reading.

mrifeadvise.

Posted on May 15, 2019January 29, 2020 by mrlifeadvise.com — Leave a comment

Why Los Angeles is so overrated, as a move to city in 2019!.

So as a former Angeleno myself i have a lot of experience from the city of Los Angeles and i have a lot of love for a lot of hard working great Angelenos.

But as a life-coach and adviser, i need to give you the reader who might be thinking of moving to LA, a cautionary advise on what you would be moving to now in the year of 2019.

We have seen Los Angeles on the movie screen and in tv-shows for a long time now.

And a lot of people have moved to Los Angeles over the years from smaller cities and towns across the US and from around the world, based on what shows and movies they have watched.

I moved for work from Europe to Los Angeles in the 1970 s and it was a very different city compered to what it is in ,today’s 2019.

The first thing you need to understand is that LA today is very different from what it has been in the past.

And what you see in movies and tv-shows, when they show Beverly Hills or Hollywood hills or even West Hollywood in shows like Beverly hills, the Hills, for instance, is very different from what LA is actually looks like for the most parts.

Nobody can say that LA is a beautiful city, it has some beautiful areas , but as a city it is not beautiful, if you walk around in many areas and mainly the down town area.

I would say that Los Angeles has like 50+ suburbs looking for a city, if that would make sense to you.

So LA it is not like many other cities in America, where you have a nicer down town area or gathering spot.

Because of the horrendous traffic in LA , usually you will stay in the area(suburb) where you reside during evenings and weekend, compered to many other cities where you can live in on area and then visit friends in the evening in another area.

This is almost unheard of in LA.

You will drive for work one way, 1-2 h but you will not drive to see a friend in the evening.

So if you are gonna live in LA you should pick an area where you have fairly close to work and where you see yourself also be willing to spend time in , in the evenings and on the weekends.

because once again the traffic is horrendous in Los Angeles and has been so since the 1980 s.

And it has just gotten worse over the past 30 years time , when the city has grown exponentially.

But in no other city in America and maybe even in the world if we count away London who also have the same problem that LA has today on the housing market.

Which is that people are simply house poor!.

That means pretty much that people have over extended themselves financially to be able to buy a house, to the point that they have no money left after paying for their mortgage and insurance and taxes that all comes with buying a house in LA.

Many angelenos are paying over 50% of their income towards their living.

And most economics agree globally that you should only pay a maximum of 25-30% for your living, to be able to live a so called (Normal life), if there is anything that is normal to begin with.

But for arguments sake we use the word normal here.

Today you are paying 1 million dollars for a rats nest, to use some harsh language or a complete tear down to the stubbs in Los angles for a house.

At 2 million dollar you are starting to get something nicer and at 3 million dollars you get something nice, in a nicer neighborhood.

You can get a 1.3-1.8 m dollar home new construction today in LA but that will not be in a good neighborhood or in a good school district.

La sombra dr where i lived for many years is Hollywood hills east, and is considered a decent neighborhood today , will run you 1.5-2.5 m dollars for a decent house.

I would personally not consider Hollywood hills east as a good neighborhood, if we use any of the normal family standards here.

The Hollywood hills west is a better area, but usually you pay almost double for a house in that area of the same quality.

So you are pretty much as a parent forced to spend closer to the 2 million dollar mark to get your family into a better neighborhood with at least a decent school district.

And that is just insane!, there is no other word for it than insane!.

OK!, how did this happen?.

Pretty much what has happen is that there has been a huge increase of people into to the city of LA city or county, how ever you want to count on it over the past 35+ years.

And there has not been that much new construction for the working class or for the middle class.

Then you have had a lot of foreign capital that has come into the LA county over the past 15 years time, that has also effected the prices on a lot of homes and mainly homes in-between 2-4 million dollars.

And for the working class and the middle class the rent has sky rocket over the past 20 years also to an insane level.

You will pay true your nose for a 2 bed room apartment in a nicer area of LA today.

We are talking about from 4000-6000 USD.

Thant could be the take home pay for a fairly normal earner.

So my advise to you who are thinking of moving to Los Angeles in 2019 or 2020.

Is that know your challenges that lies ahead of you in finding a decent priced place to live in!.

And also pick your neighborhood based on where you believe that you will work over a longer period of time, so you can save on some of the insane commute.

What i suggest that you do is to really visit Los Angeles and stay in Airbnb around the city for 1-2 nights and then you get the feel for the neighborhood and the area that you are considering living in for a foreseeable future.

Before you get a place in an area that you might not like.

And also ask yourself how MANY YEARS you are willing to sacrifice in your life , if you are coming to wait tables and try to make it in the show business or another business that has its main base in LA.

My advise is this if you are trying to make it in LA, if you have gotten nowhere inside 3 years, then leave, and dont look back.

I know people who tried for 30 years and never made it.

And i know of people who made it inside the 3 years , that i suggest, will pretty much tell you yes or no, if you are gonna be able to make it the show biz.

There are today more projects than ever in television, more shows than ever before.

The big difference today is that many shows pays a fraction of what tv-shows paid in the past when there when 10 times less of them around.

So even if you get cast in a tv-show, it might not mean more that 50.000 dollars after taxes and agent costs.

So if your rent is 30.000 a year , it will still be a struggle to make ends meet.

What studios and companies know, is that you can pay newer actors much less and they will accept just to get the part.

Please also remember that there are people who have lived 15 min from the beach, their whole life and never been there.

So you will not go to the beach as much as you might actually think that you will.

Forget about Santa Monica, it is just crazy expensive and Venice beach is just insane, we can do a whole own post on Venice beach, what is once was, and what it actually is today!.

So i am not trying to scare anybody off here, from moving to Los Angeles, but i am a strong believer in that you should gather all the information you can before you make a huge life altering decision that a move usually is.

So the best advise i can give you as an old and a long time angeleno is that visit the city a few times and stay in different airbnb s to make sure in which area would suit you the best.

Thank you for reading.

Mrlifeadvise.