Australian Functional Ingredients – by Vic Cherikoff

Wild foods, health and a global recession

This blog is not for everyone. It involves wild foods only in that my primary opportunity revolves around a wild food product but this blog has more to do with business, the economy and your personal finances and future lifestyle.

It addresses a real issue in today’s global economy and how we can each prepare for tougher times.

If you have a guaranteed income from a secure job or you run a highly profitable business and write your own ticket on the ideal life, there’s no point in reading past this point.

For the rest of us, let me ask two questions:

Are you better off now than you were 2 years ago?

Are we in for a recessionary correction brought about by many countries’ fiscal management being based on printing dollars to foster national growth?

We know that the USA, UK, much of Europe and obviously, Greece most recently and now China all have borrowings (debt) greater than their productivity (GDP) and Australia is in the same boat. Our politicians might talk about a thriving economy as the mining sector slows and despite retail sales falling month on month. New housing construction and borrowings for capital investments are down as credit tightens.

Even taxi drivers (now we should worry) are talking about vendor finance or real estate flipping or precious metals all in the light of complaints about too many taxis, too many drivers and restrictions on their own freedom to earn a living. It seems there are lots of reasons from the Internet and on-line shopping; or the seasons with floods, drought or storms; or the elections; or whatever it is that might possibly have an impact. Everyone and everything is a good excuse to be a victim.

For myself as a small business owner, I have cut back on staff, I out-source as many processes as I can and am re-working my product mix to monitor overall profitability. I work at limiting costs that impact the bottom line and look to maximizing the return on any investment of cash and earning it in the shortest possible time. While in the past business came to me I now aggressively hunt for new business, renew relationships with past customers and ensure my ties with existing clients.

The insanity of superannuation in Australia (watch the extra 3% that starts getting added in July have an impact on employment), leave loadings, staff bonuses, payroll tax and now the Carbon Tax will have or continue to have significant impact on business growth and therefore jobs if you work for someone else or your profitability if you own a traditional business.

Times will get tougher.

Our income is threatened from every direction. Where do we invest any savings if you can save at all? Will interest rates rise and by how much? Do you have any chance of reducing debt living and working the way you do now?

Luckily, the solutions to protect your financial position are always worth implementing.

Whether you agree with the dooms-dayers or their opposites, now is a great time to think of getting financially independent and learn to create your own future.

Imagine if you had no debts; no mortgage, no car, credit card debt or personal loans. The money you pay to the lenders would all stay in your pocket.

Think about this: Most of us earn income part-time, that is, when we work in a job or even as a small business owner, we only bring in the money 40 to 60 hours a week. Unfortunately, if we have any kind of debt we are spending full-time. Interest clicks away 24 hours a day, 7 days a week irrespective of our earnings.

So where do most people end up when they earn part-time and spend full-time?

You guessed it: Not too well off.

So how do you best flip this arrangement and become a full-time earner and a part-time spender?

My suggested solution is to get into a risk-free business with no staff, no premises, no inventory, no to low overheads yet highly profitable. Download my list of characteristics for the perfect business here.

Then, if you want to learn more, email me just to express your interest. My new business will be starting to roll out soon.

Come and work with me and my team because I’m happy to invest my time and effort with anyone who has a goal of a better outcome for themselves and is serious about changing their life.

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Vic Cherikoff