THE SERIOUS AND fUN SIDE OF BIZ
biz news & ideas for women on the go
FEATURE: The Biz of Personal Coaching
22 AUGUST,2016 MONDAY
‘Hedge fund’ doesn’t mean anything anymore
THE SERIOUS SIDE
STOCK MARKET CLOSE
BOND MARKET CLOSE
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Stocks Pare Losses Into Close on More Gains for Crude
Stocks pared losses as they headed into market close Friday as crude ended its seventh session of gains.
The S&P 500 was down 0.15%, the Dow Jones Industrial Average fell 0.24%, and the Nasdaq slid 0.03%.
WHAT DID THE EUROPEAN MARKETS DO?
European Markets Down as Pound Weakens on Brexit Timing News
European markets slipped on Friday as the pound dropped the most in two weeks on the news that Prime Minister Theresa May is leaning towards the first half of 2017 for triggering formal talks over the U.K.’s exit from the European Union.
The pound recently traded down 0.87% to $1.3054, after falling to as low as $1.3029 earlier in the day. Against the euro, it was recently down 0.6% at €1.1530.
In London, the FTSE 100 fell 0.2% to 6,858.95.
WHAT DID OIL DO?
Crude oil prices moved higher on Friday, recovering from earlier losses. Oil traded in the green despite another weekly rise in active oil rigs in the U.S. The number of rigs drilling for oil increased by 10 to 406 in the past week, according to Baker Hughes, the eighth straight week of rising activity.
Hopes over a production freeze from major oil-producing countries and a draw-down in domestic inventories continued to buoy commodities.
West Texas Intermediate, the U.S. benchmark, was up 0.35% to $48.39 a barrel on Friday, closing 9.1% higher for the week. Crude has climbed for the past seven sessions.
STOCKS IN THE NEWS
In earnings news, Gap (GPS) narrowly beat quarterly estimates.
Foot Locker (FL) showed off a better second quarter, beating both profit, revenue and same-store sales estimates
Estee Lauder (EL) exceeded profit and sales estimates over its recent quarter, overcoming currency exchange challenges that ate into revenue growth.
Deere & Co. (DE) rose on better-than-expected profit in its recent quarter. The farming equipment manufacturer earned $1.55 a share in its third quarter,
Viacom’s (VIAB) board approved a settlement that will end Philippe Dauman’s 11 years as CEO, according to reports on Friday.
Wall Street Journal
New York Times
International Business Times
Top 7 Money Management Apps for 2016
Mint originally was a web-based personal finance platform that has since moved into the mobile app space. By connecting your bank, investment and loan accounts to this app, it can create and recommend a personalized budget.
PocketGuard is a budget app that links up directly to your bank accounts.
BillGuard simply keeps track of your spending by its category, time and location.
SPECIAL REPORT: The Hedge Fund Shakeout
For a long time, the hedge fund industry has been great: Big fees on top of big returns powed big salaries. That may be changing as investor withdrawals are up, quant firms are eating away at the roles traders traditionally played, and institutional investors are targeting reduced fees as a defense against lower overall returns.
We are in a somewhat unprecedented environment, with negative interest rates in some major economies, a divided Federal reserve and an unending flight to safe havens which, in the case of bond yields, may cost money to own. This is one of those environments where hedge funds are expected to thrive, and many haven’t. As a result, some firms like Tudor Investment Corp are slashing staff, reducing fees and turning to automated strategies to act as ballast for returns.
Even with the poorer than usual performance, hedge funds may have gotten away unscathed if it weren’t for ETFs. The growth in the ETF industry has created transparent, liquid strategies for customizing market exposure in a way that investors previously could not do outside paying a hedge fund to play that role. And, of course, ETF fees are significantly lower.
Read more: The Hedge Fund Shakeout | Investopedia
THE fUN SIDE
FEATURE: THE BIZ OF COACHING
How To Supercharge Your Coaching Company, From A Millennial Pulling In $150K Per Client
If you’re like most millennials, one of your primary needs is to know your work has purpose.
But just how much of an impact are millennials really making? One of the primary vehicles for impact, the$107 billion online education industry, may be falling short.
Meet Shannon Graham, an internationally renown success mentor who works with high-profile entrepreneurs . He charges $150k per client to work with him for a single year, with a minimum 3-year commitment. His clients have gone on to successfully complete massive projects, including a $220 million initiative to modernize India’s transportation system.
I spoke with Graham about his no-nonsense approach to coaching on this week’s episode of Unconventional Life, “How To Charge $150k Per Client Per Year.”
How I Turned a $15 Article Into a 7-Figure Income
In 2013, my article “13 Things Mentally Strong People Don’t Do” was read by millions of people in just a couple of days. Then, Forbes.com reran my list and it became their most viral article of all time, with another 10 million views.
My list was featured by major media outlets, like Business Insider, The HuffingtonPost, Success, and Psychology Today. It was also referenced by radio personalities, like Rush Limbaugh, and mainstream news shows across the globe, likeCNN Indonesia.
But I wasn’t even a “real” writer. I was a psychotherapist and a college psychology instructor. I’d only started writing articles as a way to earn extra income after my husband passed away.
Here’s how I turned that viral article into a viable business:
1. I hustled.
To say I was unprepared for the viral superstorm is an understatement. I had a bare bones website and scarce social-media presence.
2. I started to build a platform.
Mental strength was something I talked about in my therapy office on a regular basis, but this was the first article I’d written on the subject. But clearly, people wanted to know more.
3. I turned my article into a book.
I never set out to write a book. But in the midst of the viral sensation, a literary agent called me and suggested I write one.
4. I started giving speeches.
I hired a speaking coach and got to work learning as much as I could about the speaking industry. I started landing speaking engagements well before my book hit the shelves.I gave a TEDx Talk and I continue to speak to corporations, athletes, and various conventions about how to build mental strength.
How Technology Grew A Side Project Into A 7-Figure Business
What’s more impressive is that he created this digital magazine in a time when publishing is dying.
Here are five key ways technology aided in the growth of Foundr:
1. The magazine was completely digital, produced and distributed on the Apple & Google Play stores. “I had not much money to my name at the time and would’ve never been able to afford to produce a print magazine or even be able to get a loan,” Chan says. “Because of technology today, it’s much more easier to produce your own magazine in digital format and making it as high-quality as a traditional print magazine.
2. Chan used the power of online outsourcing. “Through tools like Upwork, I was able to find editors, designers and writers all around the world to put together the magazine every month,” he explains — something that would have been much more difficult had he been confined to searching for freelancers in his local area.
3. Social media helped spread the message. In many ways, social media is the new “word of mouth,” and Chan knew how to leverage its power. “We’ve utilized social media to spread the message of our brand at a rapid rate. In particular, Instagram has been an incredibly powerful channel to grow our brand. We’ve grown our Instagram from 0-800,000+ followers in 18 months, with no signs of slowing down.”
4. Ranking on the app store search is key. Chan and his team “mastered App store SEO that allows us to rank for many key terms for the magazine in the app store.” Because of this, people searching the store for relevant terms were led to Foundr rather than different apps which might otherwise have appeared higher in the results.
5. They expanded their online presence with a podcast. There’s always room to grow, and Chan recognized that since many people prefer to listen rather than read, there was an opportunity there as well. Technology enabled him to reach that audience at a low cost: “We’ve used our podcast to help grow the brand, [without needing] a professional studio or a radio deal.”
That’s all for today.
See you back here in the a.m. with the latest biz.
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