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SEC Requests Ripple’s Financial Information and Sales Agreements

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SEC Requests Ripple’s Financial Information and Sales Agreements

Key Takeaways

  • The SEC has filed a motion demanding Ripple to provide financial statements for 2022-2023 and documents related to institutional sales of XRP.
  • This legal action is part of the SEC’s broader enforcement campaign against other cryptocurrency firms.
  • Ripple’s trial with the SEC is scheduled to begin in April, continuing the legal battle that started in December 2020 over allegations of unregistered securities sales.

The United States Securities and Exchange Commission (SEC) is intensifying its legal action against Ripple by filing a motion in the US District Court for the Southern District of New York.

The SEC is seeking a court order for Ripple to provide financial statements from 2022 to 2023 and documents concerning “post-complaint contracts governing “Institutional Sales”.”

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This request stems from a July 2023 ruling that designated XRP as a security when sold to institutional investors, a key aspect of the ongoing enforcement action against Ripple.

The SEC’s filing elaborates on the necessity of this information:

The SEC requests this limited and targeted discovery to aid Judge Torres in determining whether, having found Ripple liable for violating Section 5 of the Securities Act of 1933, <…> the Court should impose relief such as injunctions and civil penalties and, as to the latter, in what amount.

In response to this motion, Ripple filed a counter-request on January 11th for a two-day extension, moving their response deadline to January 19th.

This development is part of the broader legal battle initiated by the SEC in December 2020, alleging Ripple, its CEO Brad Garlinghouse, and executive chair Chris Larsen used unregistered securities for fundraising. While the SEC dropped its case against Garlinghouse and Larsen in October 2023, it continues to pursue the matter against the crypto firm.

Ripple’s trial with the SEC is slated for April, against the backdrop of the commission’s broader enforcement actions targeting major US cryptocurrency exchanges, including Coinbase and Binance.

Ripple’s chief legal officer, Stuart Alderoty, has criticized the SEC’s approach, labeling it as the actions of an “out of control regulator” in the context of cryptocurrency regulation.

The SEC’s latest legal move seeks detailed financial records and contracts from Ripple, as part of their ongoing lawsuit over alleged securities violations, highlighting the growing regulatory scrutiny in the cryptocurrency industry.

Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she’s not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

Promoting Healthy Eating Habits in the Office: Tips for Encouraging a Nutritious Workplace

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Promoting Healthy Eating Habits in the Office: Tips for Encouraging a Nutritious Workplace



The new year is a time when many people attempt a health reset, whether that means getting a gym membership or committing to a diet. However, resolutions rarely last through the year when the bar is set too high.



To help your team stay on the right track, you can bring healthy eating habits into the workplace. Consider the following strategies so you and your employees can collectively embrace better well-being this year.

1.  Provide Healthy Food Selections

Make it a goal to offer and eat healthier snacks in the office. Many people are guilty of indulging in unhealthy options because they are cheaper and more convenient. If your employees usually eat junk food in the afternoon, consider stocking up on nutritious snacks.

The more fruits and vegetables people eat,
the more creative and productive
 they are at the workplace. Consider including bananas, berries, yogurt, and mixed nuts in your pantry.


Employees are not taxed
 on these office snacks and the business can deduct 50% of the cost of office snacks. However, starting in 2026, this deduction is scheduled to go away.

2.  Encourage Healthy Eating Challenges

Another strategy to improve participation and high success rates is to offer group challenges. You can launch a cook-off battle where groups should create a healthy dish in under 30 minutes. Another idea is a charcuterie board game — individuals who arrange the most elegant serving win.

Aside from these fun competitions, consider promoting meal prep to assist employees in saving time and money. Studies have found that people who plan meals in advance are
more likely to follow nutritional guidelines
. Designate a week for the entire team to showcase their recipes and monitor any improvements in their eating habits. A weekly or bi-weekly sharing session will foster a sense of shared progress among your team.

3.  Conduct Nutritional Educational Campaigns

Educating your workforce is one of the best ways to promote healthy eating in and out of the office. Seminars or lunch-and-learns can highlight the benefits of proper nutrition in their personal and work lives. While some might already have the idea, they need extra push to take action.

If you want to double up on your efforts, you can launch a program offering individual consultation with a dietitian. Conversations with a professional can help your employees craft and stick to a personalized meal plan.

4.  Make It a Rewarding Experience

Treat your employees whenever they treat their bodies right. When people have motivation, they’re more eager to achieve their goals. You can give your workforce this much-needed boost when you offer incentives for staying on track with their goals. When your staff as a whole reaches their healthy eating goals, consider rewarding them with paid leave, out-of-town company trips, or gift baskets of healthy food selections.

Be careful about obtaining health information about employees in furtherance of your wellness programs. The EEOC spells out what can and cannot be done with wellness programs offering financial rewards.

5.  Encourage Communal Eating

Do you notice some employees who eat lunch at their desks? Try to discourage this habit through communal eating. Invite everyone to potluck lunches and get-togethers centered around healthy food.

You can form people into groups and assign them a corresponding food group. Ensure there’s a variety of food, such as fruits, vegetables, whole grains and seafood. Foods high in omega-3 fatty acids have been shown to
improve heart health
 and decrease the risk of depression. Likewise, foods high in B-complex vitamins are known to boost energy and concentration.

6.  Lead by Example

Workplace stress is still a concern among many employees in the U.S.,
with 77% of workers
 reporting work-related stress. Healthy eating can help counteract the negative impacts of job strain. As an employer, demonstrate habits that you want to see in your workplace.

It could be as simple as eating comfort foods, such as a bowl of warm oatmeal in the morning, which can boost serotonin levels and improve mood at work. You could also encourage conversations about your favorite nutritious snacks, showing your employees your commitment to healthy eating habits. While you can’t influence your staff’s habits outside the office, exhibiting model behavior can encourage small changes that lead to a healthier workplace.

Witness a Healthier and Happier Workforce

Employers need to walk a fine line between encouraging healthy eating and engaging in weight discrimination and body shaming. As yet, weight is not recognized as a physical disability that can be addressed under the Americans with Disabilities Act, but body shaming can certainly create bad feelings in employees who are subject to jokes or other negative treatment based on their weight. Focus entirely on healthy eating. When you create a healthy eating environment for your employees, you help them care for themselves. Implementing these gestures motivates colleagues to perform well for your team.

Health Insurance Churn Reflected in Connector Volume

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Health Insurance Churn Reflected in Connector Volume

Open Enrollment Period Ongoing, But Record Enrollment Already

STATE HOUSE, BOSTON, JAN. 11, 2024…..With less than two weeks remaining in its open enrollment period, the state’s health insurance marketplace has notched a record volume of people signing up for coverage.

Nearly 50,000 people have newly enrolled in plans available through the Massachusetts Health Connector since open enrollment began in November, Executive Director Audrey Morse Gasteier said Thursday. Since last January, she said, enrollment has climbed by 27 percent at the Connector, which offers plans for individuals, families and businesses through major health and dental insurance providers.

The increases come as MassHealth officials continue their effort to reassess eligibility for 2.4 million members. MassHealth has dropped about 203,000 members from its rolls in the first seven months of the eligibility redetermination process.

“We continue to reach and cover people who are found ineligible for MassHealth during the redetermination process and now need new coverage,” Morse Gasteier said during a virtual Connector Board meeting. “So far, over 75,000 of these residents have transitioned into Health Connector coverage. We expect to continue to work very closely with MassHealth and Health Care For All and continue our full-throated outreach efforts.”

That 75,000 figure translates into 23 percent of people who have qualified for Health Connector plans after being deemed ineligible for MassHealth, said Marissa Woltmann, the marketplace’s chief of policy.

“We do see a sizable contingent, another 30,000, who have reported on their application that they have other coverage or access to other coverage,” Woltmann said. “We think that there’s another bucket of individuals who maybe have that coverage or access but just didn’t report it to us. We are continuing to look for ways to learn more about those who aren’t enrolling with us even though they’re eligible to do so.”

Health insurance is mandatory in Massachusetts and most people get it through their employers or state government programs. The Connector Authority was established in 2006. People who are not eligible to receive MassHealth coverage may obtain health insurance through the Connector, which operates programs that offer subsidized and unsubsidized assistance to help people get insurance.

Woltmann said officials are waiting to see broader market data that could show an increase in employer-sponsored coverage. The Health Connector also plans to survey people who are eligible for coverage but aren’t enrolling, she said.

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Switzerland’s Corporate Tax System Explained by Adam Fayed

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Switzerland’s Corporate Tax System Explained by Adam Fayed

In today’s article, we’ll be discussing the corporate taxes in Switzerland.

Taxes play a crucial role in business, especially if you are planning on starting a business in a developed nation like Switzerland.

If you want to invest as an expat or high-net-worth individual, you can email me (advice@adamfayed.com) or use these contact options.

This article isn’t tax advice and the facts might have changed since we wrote it.

Factors to Consider

If you’re considering starting a business in Switzerland, several factors must be evaluated before expanding internationally.

Switzerland, known for its beauty and dynamism, offers a high standard of living, but it is also an expensive place for living and doing business.

Here are some key considerations:

…

Adam is an internationally recognised author on financial matters, with over 704.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.

Belichick and Buffett: The Superpowers of Leadership

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Belichick and Buffett: The Superpowers of Leadership

I started watching Man in the Arena this week — a documentary on ESPN+ about Tom Brady’s career. In the second episode, there is a great story about how Belichick made a stunning decision to cut his star safety Lawyer Milloy just days before opening day in 2003. Belichick had recently brought in Rodney Harrison from the Chargers, and he made the decision that Harrison would take over from Milloy.

Belichick’s decision had nothing to do with behavior or any off the field issues, and on the field Milloy was one of the NFL’s best players at his position. To boot, he was also the team leader in the locker room and the heart and soul of the Patriot’s defense. Tom Brady tells of how he lived just five houses down from Milloy and they were close friends. Everyone loved Milloy and he was a big part of the Patriots’ success. So it came as a complete shock to the players, the media, and it became the leading story in the NFL that week.

What happened next is such a great illustration of what Annie Duke would call “resulting”. I wrote about Duke’s framework for decision making in a recent post. Resulting is when you judge the quality of the decision based on the outcome as opposed to the logic of the decision itself. Not every good (or bad) result comes from a good (or bad) decision, but we tend to correlate outcomes with decision quality.

So the result of Belichick’s decision: Lawyer Milloy was cut on the Tuesday before the season’s first game. Milloy wasn’t unemployed long; by Thursday he was signed by the Buffalo Bills. Coincidentally, the Bills were playing the Patriots that coming Sunday. So the story line all week went something like this: the Patriots cut one of their star players and he’s now on the team they’re playing against and he’s out to prove what a mistake the decision to cut him was.

The game was in Buffalo and Bills fans were all over this Milloy story. As a Buffalo fan myself, I remember this game well (it was a very rare and fleeting moment in the sun for us). Bills fans accepted Milloy with loving and open arms and the game couldn’t have gone better for Buffalo. They crushed New England 31-0, Brady threw 4 interceptions, and Milloy played great for the Bills. If you were a sports writer, this story basically wrote itself. Milloy gets cut, gets adopted by a new team that loves him, and gets sweet revenge on the coach that abandoned him.

The post-game interviews were brutal. Cutting Milloy clearly looked like a bad decision, and the loss and the way the Patriots played were attributed (by the media) to this poor decision. Everyone was writing off the Patriots after just one bad game. Football commentator Tom Jackson actually said “the players hate their coach”.

But what I found interesting is how Belichick responded to the inevitable post-game question about why he cut Milloy. All he offered, in classic Belichick terseness:

“I’m trying to do what’s best for the football team.”

I was thinking about his comment last night and how truthful it probably was. The media wanted explanations, justifications, and they wanted Belichick to take blame for what clearly appeared to be a bad decision. But Belichick was probably explaining what he really felt: he tries to make decisions that are best for the team. The results over time prove out the merit of those collection of decisions, but in the short term they are a random walk, and I think Belichick’s detachment to the result of this one decision shows how much he understands this reality.

Professional football is very much about capital allocation. Football organizations have a certain amount of money to spend on a finite amount of roster slots, and their job is to build the best roster they can within the confines of those resources. And for the past two decades, no one does it better than New England. The decision to cut Milloy (whether it was correct or not) was simply one of many capital allocation decisions that get made along the way. Belichick made the decision that he thought most effectively used the resources at his disposal to give his team the best chance to win.

What I think the post-game emotional media frenzy missed is how much the decision said about Belichick’s mindset. He wasn’t concerned about what anyone else thought. He didn’t care what the media thought or even what his own players thought. He didn’t care who agreed or disagreed with him. He simplified everything down to first principles. His sole reason for the decision he made was it was best for the team. This might sound obvious (what coach wouldn’t do what’s best for his team?) but the reality is decisions often get influenced by outside and competing incentives. These distracting forces lead to clouded judgment to the point where the decision maker loses sight of what he or she is really trying to accomplish.

I also got the feeling from listening to his comment that he didn’t actually place all that much emphasis on the result of the decision at that time. He didn’t care about the short-term. He offered no apologies; no mea culpa. I think he understood that this was a bad result in just one game, and not to read too much into it. He has done a great job throughout his career of not placing much emphasis on any one game. The media hyperventilates about short-term results. This happens in sports, it happens in business, and it happens in the stock market. Humans are emotional.

Years ago I wrote a post called Market Truisms and Quarterback Controversies — after a blowout loss to Kansas City in 2014, Belichick was famously asked about whether or not Brady should still be the quarterback (Brady has won 4 Super Bowls since that question was asked). All Belichick said after that game was “on to Cincinnati” (i.e. time to focus on the next game). He separates results from decisions, and he doesn’t place much emphasis on any one given outcome.

I have a friend who thinks Belichick would make a fantastic investor. A big part of his success as a football coach is also what is needed to succeed in investing: he has no career risk, he doesn’t let himself get emotional about short-term results, and he focused on making one good decision at a time. And I also think he understands the role that luck plays in results, especially in the short run, and not to get too excited or too down about those results.

His monotone demeanor with the media has always been a Belichick trademark, but perhaps that’s a purposeful strategy to approach the game with equanimity instead of excitement and emotion. Maybe that helps him make better decisions.

I think this is a useful framework to reflect on. Focus solely on what you’re trying to accomplish. Make decisions based on what you think will best help you accomplish that goal. Don’t let outside influences and the noise of the world influence your thought process.

Buffett is very similar in this regard. He never made decisions based on what his partners or investors would think; he was willing to make decisions that he knew might look strange or be questioned by the media, or perhaps might even look foolish in the short run. He’s perfectly happy to watch from the sidelines if tech stocks are flying high that he doesn’t understand. I recently was reading about an investment he made in Amazon bonds during the dot com bust in the early 2000’s. He spoke very highly of Bezos at that time, and even suggested that Amazon would have a bright future (which is why he felt the bonds were safe and mispriced). But he never bought the stock. And as far as I can tell, it hasn’t really bothered him that he’s missed it. He certainly views it as a mistake (I’m still perplexed why he doesn’t invest in it now). But Buffett has no envy, no fear of missing out, no emotion over bad outcomes, and he doesn’t manage capital to my expectations or anyone else’s. I was so impressed (even though I may have disagreed) with his decision making last year during the depths of the pandemic. Everyone second guessed his decision to not buy stocks, not buyback Berkshire at cheap prices, not do a big acquisition. He didn’t concern himself with what other people thought he should or shouldn’t do. He simply tries to do what he thinks is best for Berkshire, and that means attempting to string together a sequence of sensible decisions, one at a time.

The mental framework of focusing on compounding sensible decisions is what Belichick and Buffett both have in common. Neither man suffers from social proof tendency, and it’s a very rare human trait to be able to have such detachment from the world’s opinions and what is considered conventional and acceptable. To be able to be in the arena and yet remain completely insulated from the noise and the emotion that can distract you from quality decision making is the skill that I admire most about both of these GOATs. It’s a behavioral edge that exists in both of their respective professions, and it’s one that is so hard for their competitors to copy.

I covered these points above, but here are my notes I took last night after watching episode 2. It’s a fun show worth checking out if you have ESPN+.

Happy New Year!


Post script: The Patriots recovered by getting the last laugh on the Bills. In what I (as a long suffering Bills fan) could only describe as some kind of dark twist of fate that Belichick most likely orchestrated, the Patriots beat the Bills 31-0 on the last game of the regular season, the same exact score of their opening day loss. It was an almost poetic exclamation point on a season that started by everyone writing off the team as a disaster. The Pats finished the year 14-2 and won their second (of six) Super Bowls.

John Huber is the founder of Saber Capital Management, LLC. Saber is the general partner and manager of an investment fund modeled after the original Buffett partnerships. Saber’s strategy is to make very carefully selected investments in undervalued stocks of great businesses.

John can be reached at john@sabercapitalmgt.com.

Staff Reductions at Amazon Affect Prime Video, MGM Studio, and Twitch

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Staff Reductions at Amazon Affect Prime Video, MGM Studio, and Twitch

Amazon is learning what most legacy media companies already knew: show biz is tough.  

The e-commerce giant is cutting hundreds of employees from its streaming and movie divisions, according to an internal memo seen by Fortune. The cuts will affect Amazon MGM Studios, Prime Video, and the streaming service Twitch, an independent subsidiary that’s still unprofitable nine years on from its acquisition. 

This is the second year in a row that the company is launching the new year with job cuts. Last year, Amazon had two rounds of layoffs that slashed a total of 27,000 jobs across the company, including in HR, its AWS cloud computing unit, and advertising business. 

This batch of changes at Amazon comes as companies across the streaming industry are reckoning with the difficulty of a business that has, so far, proven to have limited profits and high expenses. Amazon spent big money to bolster its content library, including an $8.5 billion deal to acquire the Hollywood studio MGM in 2022, and an 11-year, $11 billion broadcasting deal with the NFL that gives Amazon exclusive rights to broadcast Thursday Night Football.

Across the media landscape, companies are rethinking the strategy for their streaming services, which had previously prioritized gaining subscribers at all costs. Now, with borrowing costs high and inflation-strapped consumers being more choosy about entertainment, Amazon and its peers are looking to trim down costs and become more selective in the content they make and distribute, all while considering new sources of revenues. Some have introduced ads,  emboldened by industry leader Netflix, which once swore it would never have advertising, adding it in 2022. Amazon itself will introduce ads to Prime video shows at the end of the month. Others, like Warner Bros. Discovery and NBCUniversal, have taken to licensing out content that had previously been exclusive to their own streaming services in exchange for some much-needed cash. 

Amazon, like many of the legacy media companies who also operate streaming services—Disney, Warner Bros. Discovery, and Paramount—is realizing it can’t continue to spend endlessly on streaming, a business which has proved difficult to scale profitably for all except Netflix. 

In announcing the layoffs, Amazon signaled it is cutting headcount to spend on content. “We’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact,” senior vice president of Prime Video and Amazon MGM Studios Mike Hopkins told employees in a message on Wednesday seen by Fortune. 

Amazon spent $16.6 billion on content in 2022, behind only Netflix and Disney. The costs include Amazon’s NFL contract and a very pricey The Lord of the Rings show, which reportedly cost $465 million for a single season. (Full year figures for last year’s content spend aren’t available because Amazon hasn’t reported its 2023 earnings yet). 

Other media companies have opted to cut their content spending this year, with Disney slashing its content spending for fiscal 2024 by $2 billion. In recent public statements Disney CEO Bob Iger said the company made too many movies and shows for its streaming service, often at the expense of quality. “In our zeal to basically grow our content significantly to serve mostly our streaming offerings, we ended up taxing our people, in terms of their time and their focus, way beyond where they had been,” Iger told attendees at the Sun Valley Conference in November. Disney reported a $512 million loss on its streaming business in the third quarter of 2023. 

Amazon CEO Andy Jassy in the past spoke optimistically of Prime Video, telling CNBC in June he was “very bullish” about the business. Jassy said it was both a strong business on its own and had a positive halo effect on the company’s core e-commerce business. 

Prime Video was originally launched as a glorified marketing tool for the free shipping subscription Amazon Prime. “What we find is that customers who watch a movie that they love, they buy more Tide,” former CEO of Amazon’s worldwide consumer business Jeff Wilke told Vox in 2019. “They shop more, they’re more likely to renew their Prime subscription, they’re more likely to convert a free trial into a monthly or annual Prime subscription.” 

But just a few weeks after Jassy sang Prime Video’s praises on CNBC, Bloomberg reported he was closely examining the finances of Amazon’s studio division. Despite its big budgets and buzzy programming it can be difficult to truly gauge the success of Amazon’s entertainment business because it does not report separate financial results for the division. Secrecy aside, advertising executives are certain Amazon’s upcoming introduction of ads will be a “tornado” that upsets the streaming industry, as it is set to become the largest ad-supported streamer overnight.

Analyzing Potential Breakout Strategies as Bitcoin Cash (BCH) Aims for $300 Breakout

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Analyzing Potential Breakout Strategies as Bitcoin Cash (BCH) Aims for 0 Breakout
The Bitcoin Cash (BCH) price has not traded above $300 in more than 190 days but is currently attempting to do so.

The price trades inside a short-term corrective pattern and a long-term horizontal resistance area.

Bitcoin Cash Trades at Range High

The weekly time frame technical analysis shows that the BCH price has increased since breaking out from a long-term descending resistance line at the start of 2023. The line had persisted for more than 600 days before the breakout.

The BCH price created a higher low in June and accelerated its rate of increase, leading to a high of $329 later in the month. The high still stands.

After a brief decrease, BCH showed resilience by bouncing at a horizontal support area (green icon) and now attempts to move above its previous highs (red icon).

BCH/USDT Weekly Chart. Source: TradingView

The weekly RSI gives a mixed reading. The RSI is a momentum indicator traders use to evaluate whether a market is overbought or oversold and whether to accumulate or sell an asset.

Readings above 50 and an upward trend suggest that bulls still have an advantage, while readings below 50 indicate the opposite. The RSI is increasing and is above 50, both bullish signs. However, the indicator could generate a bearish divergence based on the weekly close, considered a sign of weakness.

Read More: How to Buy Bitcoin Cash (BCH)?

BCH Price Prediction: When Will BCH Reclaim $300?

Similarly to the weekly time frame, the daily one does not determine the trend’s direction. This is because of the price action.

Since August 2023, BCH has traded inside an ascending parallel channel. These channels usually contain corrective movements, meaning that a breakdown from them is the most likely scenario.

Read More: 8 Best Bitcoin Cash (BCH) Wallets

However, the BCH price shows resilience by moving into the channel’s upper portion. It is currently attempting to break out from its resistance trend line. Bill Noble believes that this strength comes from the Bitcoin (BTC) ETF approval.

The daily RSI has shown bullish signs since it moved above 50. So, whether the BCH price breaks out from the channel or gets rejected will determine the future trend’s direction.

BCH/USDT Daily Chart. Source: TradingView

A breakout can trigger a 35% increase to the next long-term resistance at $390. However, if a rejection occurs, BCH could fall 20% to the channel’s support trend line at $230.

For BeInCrypto‘s latest crypto market analysis, click here.

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The post Bitcoin Cash (BCH) Targets $300 Breakout: Analyzing Potential Breakout Strategies appeared first on BeInCrypto.

Starting a Creative Agency: A Step-by-Step Guide

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Starting a Creative Agency: A Step-by-Step Guide

The creative industry in the United States is a multi-billion-dollar industry, and it seems everyone wants a piece of the pie.

Since 2021, there has been a 12% increase in the number of creative agencies. If you’ve got your sights set on building your own business from scratch, you’re in luck. We’ve laid out everything you need to know to help you get started.

Without further ado, let’s dive in.

Step 1: Financing Your Agency

There are five main ways to raise the money you need to get started.

  • Bootstrapping: You’re basically using your own money. You either tap into your cash savings or your 401K through the ROBS (Rollover for Business Startup) scheme.
  • Banks: This is a frustratingly slow process, as these lenders want to see a steady income, equity in your home, a 700+ credit score, relevant industry experience, and your business plan.
  • SBA loans: These fall under two types – community programs, which loan you up to $250,000, or micro-loans, which can furnish you with $50,000.
  • Crowdfunding: You can apply for funding through online platforms like Indiegogo, Kickstarter, and GoFundMe.
  • Angel investors: there are two types – warm market (friends and family) and cold market (people you don’t know). Approach the warm market when you want smaller amounts and the cold market when you’re seeking larger sums.

Step 2: Hiring Your Employees

As a startup owner, your first hire should be someone with opposing skills/strengths. For example, if you’re strong at sales but poor at administration, then hire someone who is skilled where you lack and is a collaborative worker. 

Ultimately your agency should have at least one person in each of the following core departments:

  • Sales
  • Marketing
  • Accounting
  • Finance
  • Product development
  • Operations/administration
  • Legal

You’ll also need to figure out a compensation model for your staff. Are you hiring full-time, part-time, or seeking freelancers?

Consider hiring supporting freelancers or SMEs for client contracts, like an SEO audit or a media strategy, by using resources such as CloudPeeps, Upwork, or Torchlite. These marketplaces focus on bringing the right talent to companies like yours.

Step 3: Choosing an Office Location

The first question you might want to ask yourself is, “Do I need an office right now?” Locking yourself into a year-long lease when you’re not even established yet might not be the best decision for your business. If you’re a homeowner, consider turning a spare room into your workspace. You could even use your garage!

As you grow and start looking for space, think about joining incubator and accelerator hubs in your city, to get access to communal offices and boardrooms to meet with your clients.

Once you can afford a place of your own, create a budget first. Then pay attention to the functionality as you view different locations (e.g. ease of access to the office, safety, visual needs of your agency) and your contract terms (e.g., does rent increase yearly?).

Keep in mind that you may want to create an agency that is fully remote. Or, perhaps, you want one that has a hybrid approach. Either way, these decisions should be taken into consideration when/if looking for a physical location. 

Step 4: Networking and Building a Client Book

Without clients, you don’t have a business. As a brand-new creative agency, you’re going to have to spend time building brand awareness and credibility so you can secure clients. This can be done by leveraging social media to push content and winning awards and accolades (e.g., check out the various US Agency Awards you can apply to.)

Start networking by reaching out to your current professional network. Utilize your contacts! Reach out to old coworkers and colleagues and ask them to catch up on the phone or grab coffee or lunch with you. Sometimes, your contacts may have opportunities they’re too busy to manage or don’t have the right resources for. This would be the perfect opportunity for an introduction.

If you share with your colleagues that you’re going out on your own, chances are they’ll want to support you and keep you in mind the next time a creative need lands on their plate. The power of referrals and word of mouth is incredible. People are more likely to buy when referred by someone they know. But don’t just wait for these referrals; ask for them!

Also, think of networking karma. When you’ve learned all you can from your new and existing connections, don’t just move on. Make sure you pay it forward to new entrepreneurs who might need guidance or introductions to support their new business. Agree to chat with people who reach out and ask for help building their own businesses. 

Step 5: Establishing KPIs

The late management expert Peter Drucker once said that you could not manage what you don’t measure. Simply put, every business owner needs to track business metrics and analyze them.

You cannot gauge how well you’re doing as a company on a month-to-month basis without keeping accurate records. Without data, you won’t be able to tell where you stand in the industry against peers. So what should you be measuring?

There’s a host of Key Performance Indicators (KPIs) you could potentially track but here are some important ones:

  • Monthly Recurring Revenue (MRR)
  • Net Promoter Score
  • Lead Conversion Rates
  • Website Traffic
  • Retention Rate
  • Client Acquisition Cost
  • Customer Lifetime Value
  • Employee Satisfaction

Step 6: Figuring Out Your Payment Models

There are six primary pricing models you can opt for based on your needs and objectives as a creative agency:

  • Fixed fees: clients like this model as there are no surprise surcharges.
  • Hourly fees: in this compensation model, the client is billed based on the time taken and associated expenses incurred to complete a project.
  • Monthly retainer: most common model in use. Each client pays a set fee each month.
  • Performance-based pricing: some well-established agencies prefer to opt for this model, although the agency assumes the greater risk.
  • Project fees: client is billed per project regardless of the time taken or resources needed to complete the task.
  • Value-based pricing: an excellent way to build a mutually beneficial long-term relationship where pay is based on value addition.

Step 7: Creating Your Agency Website

First impressions count. You’re a creative agency. You need a brand and a website that wows your visitors and prospects and shows off your capabilities and talents. 

However, don’t be that agency that tries too hard to be clever. Consider working with a UX expert to ensure you don’t end up with confusing navigation and no clear website hierarchy. Your website should appear professional and unique but also have really clear information for any visitor that wants to hire you.

Also, remember that your website is meant to generate leads. Be sure you have a clear call to action and that the visitor can easily understand who you are, what you do, and how you can help them.

Besides your call to action and clear navigation, there are a few other things you should consider to make your web presence an effective part of your marketing strategy:

  • Contact information on every page
  • A blog
  • An SEO strategy to drive more qualified traffic to your site
  • Testimonials and case studies
  • Photos or videos of your work, venue, or team (think: online portfolio)
  • A newsletter sign up
  • Social media accounts

Step 8: Setting up a Content Strategy

Content marketing is SO important for lead generation, as well as brand trust and awareness. As mentioned above, two necessary basic things to consider when you create a website are a blog and an SEO strategy. Help your potential clients find you!

Content fuels your online marketing channels. Start with writing blogs that will attract clients to your business. Think about the problems your prospects are trying to solve and how you can help. Dig into creative problems you’ve solved for past brands and clients. 

The content on your blog can form the basis of bite-sized content that can be used on your social media platforms, such as Facebook and Twitter. It can also be repurposed into:

  • An email newsletter
  • E-books
  • Online Courses
  • Lead Magnets

Try to gain additional exposure and showcase your expertise through guest blogging for top creative publications such as AdWeek, B2B Marketing Blog, or Creativity.

Keywords are also critical to consider as a part of your content strategy. Keywords will help you drive more qualified traffic to your specific web pages, which leads to better conversions. Put simply; they help you get your content in front of the right people at the right time.

Owning an agency is not for the faint of heart, but it’s worth the work to build a business of your own. If you’re burning the midnight oil, it’ll all be

The fate of classic cars in a petrol-free future: a look at 2035

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The fate of classic cars in a petrol-free future: a look at 2035

By 2035, sales of new petrol, diesel and cars will be stopped in the United Kingdom. This had originally been due to happen by 2040, but the date has since been brought forward by five years.

The term ‘petrol and diesel ban’ has appeared a lot in news coverage of the change, creating speculation a total ban on any petrol and diesel cars is on the horizon. For classic car owners, it’s understandable that this has caused concern. The good news for now is only new car sales will initially be impacted.

However, classic car enthusiasts should be aware of the potential impact of the change on resale value and availability of fuel, as well as keeping up to date with the government’s long-term plans.

What are the government’s plans for petrol and diesel cars?

Put simply, the proposed ban means that no new petrol or diesel cars will be sold in the UK past 2035. The ban will not affect the sale of second-hand vehicles, and currently there is no proposed date for a full petrol and diesel ban.

So, why the change?

The UK government has set a target for the nation to be emitting virtually zero carbon by 2050, in a bid to help tackle climate change. As part of that, the production and use of fossil fuel-powered vehicles is due to be phased out, with buyers encouraged to shop for electric cars instead.

Classic car enthusiasts may already have fallen foul of high charges for driving their vehicles in areas like London’s Ultra Low Emissions Zone or Birmingham’s Clean Air Zone. The government’s aim to reduce the number of petrol and diesel-powered vehicles on UK roads is sure to mean a steady increase in similar charges.

Encouraging drivers to ‘go green’

Diesel car owners already face increased road tax, fuel tax and a variety of hiked-up congestion charges designed to discourage people from driving diesel vehicles. Many car manufacturers now offer their own scrappage schemes for diesel cars, giving owners the chance to trade in less eco-friendly vehicles in return for substantial discounts on ‘greener’ models.

In the meantime, classic car owners shouldn’t necessarily start feeling too much ‘green guilt’ right away; the carbon footprint of buying any new car is much higher than that of driving a second-hand one. Until electric cars become easier to buy second-hand, that’s a good argument for continuing to drive a classic petrol vehicle rather than investing in a brand new electric one.

When will diesel and petrol cars be banned?

Diesel car

The ban on sales of new models is due to come into place in 2035. With the date change, a five-year stay of execution mooted for hybrid and plug-in hybrid cars has been scrapped, meaning only fully electric cars and vans can be sold from 2035.

There are currently no plans for a complete ban on all diesel and petrol cars. The government had originally intended to bring in the ban on new models during 2040. However, fears that this would leave too many petrol and diesel cars on the roads in 2050, the year they are aiming to hit a zero carbon emissions target, prompted the earlier date.

What will happen to classic cars after the petrol and diesel ban?

It will still be possible to buy and sell classic cars after the ban on new vehicles comes in. However, classic car enthusiasts should keep in mind the long-term aim is to reach a future where there are no petrol or diesel cars on the roads.

It’s been suggested within 10-15 years of banning the sale of new petrol and diesel cars, there could only be electric cars in circulation. That said, as any classic car owner knows, there are plenty of cherished vehicles still in use that are much older than 15 years old.

Are classic cars being banned?

 

Classic cars are not being banned, but it’s likely the next few decades will see a shift that may eventually present a challenge for classic car drivers. This includes increased availability of electric car charging points and decreased space at fuel stations for traditional petrol and diesel pumps.

For cars that hold value in their rarity, it could be good news. Though running and maintenance costs are likely to increase, cars that are already rare may become even more sought-after as collector’s items, pushing up their value.

There is also a chance the classic car market as a whole could take a hit as hobbyists are put off by the rising cost of road tax and fuel, coupled with increased difficulty in sourcing replacement parts. The value of diesel cars has already dropped since scrappage plans were announced, and there is a risk the same could happen to petrol vehicles, classic or otherwise.

According to recent data analysis by our team, there are some classic cars that are set to go extinct within the next decade regardless of the petrol and diesel ban. You can learn more about this by reading our Classic Car Extinction report.

Will you be able to buy petrol and diesel fuel after 2035?

In short, yes. You will still be able to buy both petrol and diesel long after the new car ban is brought in. You will also continue to be able to buy vehicles powered by petrol and diesel on the second-hand car market. As a result, there will still be demand for both petrol and diesel at the pumps for the foreseeable future.

Classic car insurance from Adrian Flux

Whether your cherished vehicle is a timeless classic or a modern collectible, we can offer classic car insurance policies tailored to suit your needs. With limited mileage policies, discounts for owner’s club members and discounted schemes for a range of makes, we can help you to keep the running costs of your classic car down, while still providing comprehensive cover.

Retired and Left the Cubicle Behind!

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Retired and Left the Cubicle Behind!

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It finally happened. I retired from Corporate America last Monday. A big sigh first — “Ahhh…” And of course, “WOO HOO!!!”

If you followed this blog for any stretch, you’d get the impression I would waffle in my cubicle until age 65. But here I am, a certifiable non-W2 human, ready to take on a bunch of new adventures at the ripe middle age of 50.

After spending 26* years in the workforce, there is an odd sensation about walking away from a steady paycheck. The last few weeks felt like being a senior in high school, excited for the future, but wistful about some of the good parts being left behind.

* Not including the year after a layoff I spent finishing my grad degree (a taste of retirement at 30!)

Why Now?

Honestly, the work just wasn’t fun anymore. Good leaders left the company, and the ones who remained went back to dated ways of command and control software delivery. Ick.

I was no longer leading a team after the forced resignation of my senior leader “blew up” our department. (Even if the work isn’t fun, guiding, supporting, and mentoring a team can be rewarding enough.)

So, I took a good reward cycle and tendered my three-month resignation back in March. I was told the door would stay open until my last official day, but I never looked back. We saved over half our income and lived small all these years for a reason!

Thank Yous

First I’d like to thank my wife for supporting this decision. We talked about this day for a long time, and I think that’s key. I didn’t spring some novel half-cocked idea on her last month. This was a project nine years in the making.

I’ve got a few years on my lovely wife, and she enjoys her gig as a solo practitioner, so she’ll continue working until she’s ready to downshift. She doesn’t have to keep working to keep us afloat: she’s making a real impact in her patient’s lives and that is the kind of work we should all be fortunate to do.

I’m incredibly thankful for the writings of Mr. Money Mustache. His blog kept me hopeful during some dark days in 2014 when I was burned out from all the negative energy that permeates big insurance company software development.

I’m also thankful for the FIRE blogging community and the wealth of inspiration that showed me the path: Fritz at Retirement Manifesto, Carl at 1500 Days to Freedom, Gwen at Fiery Millenials, Angela at Tread Lightly Retire Early, and our good doctor Leif at Physician on Fire.

And of course, my good friend Uncle Daryl of Jump to Consulting. Poor Daryl put up with my hesitancy to retire like a champ – or more aptly, a true uncle!

To sum up week 1: Retirement doesn’t suck.

What’s Next for Cubert?

I’m quickly learning that there’s no retirement from pure work. You can retire from a job, but you shouldn’t retire from being useful.

Since our basement renovation wrapped up last week, I’ve got a huge list of projects around the house to keep me occupied. I also had two rental homes turnover leases in the same week and the list of maintenance items on these homes is lengthy.

Handyman stuff will occupy a good chunk of my time this summer, along with some travel to Colorado, Michigan, Nevada, and California.

Finally, I’m studying for my real estate agent’s licensing exam. Having this feather in my cap will open up more possibilities for the rental business, which I’ll write about soon.

Speaking of which, I know this blog has been running on fumes these past few years. Looking back, I blame the promotion I got at Corporate Fun Land back in late 2019. It wasn’t so much that the promo took away my blogging free time, but it took me out of the early retirement mindset.

Going forward, I have a lot more time and a lot less excuses. Time to get these rusty writing chops back in gear. Buckle up!

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