This one is a thing we have seen a lot of in the past where people turn to gambling to try and solve other financial difficulties.

And in short 99 % of these tries fail.

Many of you might now that FEDX was saved by Fred Smith founder and CEO at the time by turning 5.000 dollars into 27.000 dollars over a weekend in Las Vegas to pay for fuel for another week!.

And without this win, the company might not we a billion dollar business today, you never know.

But this is one of those 1% things that almost never happens in real life!.

Maybe some of you can remember the Woody Harrelson and Demi Moore and Robert Redford movie indecent proposal from 1993.

The plot of the movie is that Woody and Demi is about to lose their dream home in the recession that they have built, so they take their last 5.000 dollars and head from LA to Vegas to try and win money to keep their home.

They of course lose it all, which is the case in 99.99% of the times, but they catch the eye of a billionaire played by Robert, who offers them a whooping 1 million dollars for a night with Demi.

And they do accept this indecent offer, to be able save their dream home in LA.

This is a good story to use as a Waring to people thinking of using their last five or ten thousand dollars to fix a bigger financial problem.

What happens to you and your family if you lose, which you by all statistics will do in the end!.

A better plan would be to buy stuff at garage sales and flee markets and put them up for sale at AMAZON for instance.

The chances of making money on this is much greater than on risking it all gambling.

And if you buy smart stuff at garage sales like older toys or Disney products, you can double your money in a month time or so, up to a certain amount of course.

But dont try this option of trying to double or even quadruple your money by gambling!.

It will only lead to a bigger financial strain on you and your family.

Thank you for reading.

Mrlifeadvise.

So since a lot of people have reached out, and asked us about the release if NEGA (NEVER EVER GAMBLE AGAIN) program.

We are very pleased to inform you that it will be released next week so during the first week of February.

Thank you for reading.

Mrlifeadvise.

So knowing when to borrow money to expand your business is maybe the most difficult question to answer ever, when it comes to smaller and medium sized business.

And there are so many variables that needs to be taken into consideration before borrowing money to grow the business.

And if you get it wrong it can mean that you will lose your business in a few years.

And we will list the things you should really consider , before ever borrowing money to grow your business.

Nr1: What would the terms of the loan be for your business?, this one is very important because if you can borrow money at a good rate , then it makes the payback process much easier. There is a huge difference between a 8% rate and a 15% rate when you look at a payback table of let us say 10+ years.

Nr2: Most of the time you need to put up your business and maybe even your home as a security to the lender, and this also means that you should never borrow unless you have a crystal clear business plan in place, and also that you have had an outside company look at the business plan based on your competition you face for your service or products that you offer.

Nr3: What happens if you get sick along the way, can somebody-else run the business?, this one is huge because we can not tell the future so if you borrow money based on that you can operate the business, then you need to look at what extra add on insurances you can take if you get sick, so if you cannot repay the loan so you and your family dont end up on the streets!.

Nr4: Do you need to invest on personal or is it just in to you stock and added machinery, There is a huge difference in what the loan is spent for, if you spend money on stock then it is more of an asset, if you buy machinery to maybe automatize some things that is also an investment, but if you spend on adding sales reps and add costs and so on, then it is an expense that can be very risky for your business.

Because if you do not get the added sales affects by adding sales reps and doing marketing then you are in trouble, and with a loan to repay.

Nr5: Due diligence is a word that is taken way to lightly by a lot of business owners before they enter into debt, the most important thing is to now your numbers and to know exactly what the money should be used for down to every penny before you even are thinking of borrowing the money.

We are not trying to scare you , but we are trying to warn you about the fast-lane of credit and loans for small and medium sized business these days.

A lot of small and medium size business go under because of one bad loan that they have taken out to lightly.

This just a matter of fact, and this fact needs to be respected.

Thank you for reading.

Mrlifeadvise.

So some people have asked why we talk about addiction and mainly gambling addiction as a huge problem for companies, and the growth of a company.

So you have to understand that when you look at a business, it all starts with the owner/owners and then comes the CEO and CFO and then the workforce.

And if you have at the upper level people that are suffering from any kind of addiction that takes both time and money away from the business this is a huge problem.

But this matter is not very often discussed , because the workers are afraid of getting involved and getting the owner/CEO some help to beat the addiction.

This is understandable that a worker does not want to jeopardize their job by going to the boss and saying hi Jack i believe that you are suffering from a serious addiction and me and the rest of your employees would like you to seek help for your addiction.

Most of the times the workers and other management personal can spot what the addiction is that the owner or the CEO is suffering from.

But with gambling this is much more difficult to spot compered to alcohol and drugs where there is usually some psychical signs that you can see what is going on.

And the growth and well being of any business depends very much on the owner/management making sound and good decisions for the future.

And if you have a CEO/Owner who blows 300-500.000 dollars a year in VEGAS or at the OTB and today sadly enough, legal gambling is almost available in every state.

And as Warren Buffet says, there is no economic benefit for states and cities to legalize gambling, it is a cancer that eats away on the society.

There is a reason why a lot of countries did band gambling 100+ years ago and there is also a reason why in many European countries for many years it was state controlled(no longer) the European politicians sold out and gave in!.

And this is one of the most damaging things that a business owner can do is to gamble away money and funds that could be used to grow the business.

Instead they are taking the money out from the company and then gambling it away at casinos,sport-books or at the OTB.

Dont you think that if it was possible to win on sports-book and casinos LONG-TERM, that there would be some huge groups of investors doing this today?!.

We see a lot of addicted people when we are asked to look over a company in distress, regardless of which country it is located in these days.

We did not see in the past the gambling issue as clearly as we see it today in both Europe and America, but Asia is crazy also.

So if you are an employee of a company and you can see that your owner or CEO is struggling with addiction, the best thing you can do is to try and get all the workers together and then try and get outside council to see if an outside company or person can come in and start treating the addicted person.

The addicted person is not gonna be able to white knuckle the issue on their own(quit on their own) it always takes help to get an addict cleaned up.

And they will struggle for the rest of their life with the addiction, but they can with help fight the addiction and stay clean.

Doing nothing as an employee is stupid because the investments made in the company will affect you in a personal way.

And the lack of investments will also affect you in a bad way.

BUT THE ONE THING TO BE CAREFUL WITH, IS NOT TO DO THIS ALONE!.

YOU NEED TO GET ALL THE WORKERS TO UNITE AND SEEK OUTSIDE HELP TO HELP OUT YOUR OWNER/CEO.

Because if you do this alone , there is a risk that you can get fired for overstepping if you do this on your own.

So if you dont get other workers on board then stand down.

Because addicts when getting pushed will lash out at the person trying to help them out.

This is totally normal when dealing with an addict.

Very seldom when we from mrlifeadvise get called into a company, is it the owner/Ceo him or herself asking for our outside council and assistance.

Usually it is other family members or co-workers or investors/partners who can not take this anymore.

So the person we are coming to help, will lash out at us and usually it goes something like this, yes i like to gamble and drink but i dont have a problem with it!.

Our answer usually is, okay then you will have no problem opening up your private books and the companies books so we can establish how much % wise you have spent on your vice or vices on a yearly basis!.

Because every company is different and has different turnovers and revenues so you need to count is percentage instead of the money going out.

So usually if the clients has spent more than 20% on his or her net income on gambling then it is a huge problem.

Already at 10% there are serious WARNING flags that this is an issue that needs to be solved.

Normally we see that over 50% goes towards gambling of the net income for a gambling addict that has access to funds on a regular basis.

So there is a huge advantage if you as a company employee can have a sober owner/Ceo at the top of your company.

So do not take addiction lightly and absolutely do not take gambling addiction lightly.

Based on our wast experience we would put gambling addition side by side with opioid addiction.

And for us as advisers it is scary to see how widely available the online gambling is these days.

And we know first hand many companies that went under due to the owner being an gambling addict.

And this is just so sad when you see jobs lost and local revenues going to the bookie instead of the local city/town , because the company owner never got treatment.

And this is also where the last stand usually takes place, that once the business owner has lost his company and all of his money has been lost on gambling, he will more likely than not take his own life.

Suicide is very common when it comes to gambling addicts, because it is one of the toughest if not the toughest addiction to beat.

And the reason for this is that you brains dopamine levels have been hijacked so badly by the addiction that it is insane.

If you have ever seen a cat-scan picture of a gambling addicts brain it is down right scary to look at the photo of the brain.

So sharing is caring and if you know somebody who suffers from gambling addiction or any other addiction that affect there business or your work environment, try to solve it and nip it in the but A.S.A.P because it will only go one way which is downhill from wherever the addict is at the point that you get involved with the case!.

Thanks for reading.

Mrlifeadvise.