A lot of people dream of starting their own business. They have heard of the “unlimited opportunities” and the “complete freedom” and the “not having a boss”. If you are one of those who have that dream and believe it really can come true then I have something to say to you “WAKE UP!”When you start your own business you don’t have ‘complete freedom’. As a matter of fact there’s a really good chance that you will have less freedom, a lot less freedom. To be successful you will most likely be working seven days a week and you will be working longer hours and you will be working for a lot less money (at least in the beginning). Does it still sound like something you really want to do?As far as ‘not having a boss’ goes, well I hate to be the one to break this to you but you will always have a boss. If you don’t do what the customers want then you will go out of business and if you are lucky enough to borrow money to start and run your business then your banker/investors will be telling you a lot about how you are going to run your business. Okay so maybe they aren’t your ‘boss’ but they are still the ones who will tell your what you must do. And that’s what your current boss does now. Does it still sound good?Of course you can be stubborn and do what you want instead of what the customers want and there’s a word for business owners that do that. They are called employees because they went out of business and had to go back to work for someone else. Still interested in starting your own business?I’m going to assume at this point if you are still reading, that you are interested in starting your own business. Don’t get me wrong, I have started lots of companies and had a lot of success. Over a period of ten years I actually sold two of my companies to a Fortune 50 company for a LOT of money. At that time a lot of my friends commented on how lucky I was for that to happen. I just smiled and didn’t respond to those types of comments. You see, they only saw the end result of a lot of really hard work and a lot of really long hours working seven days a week. They didn’t see the failed marriage, the teetering on the brink of not being able make my payment to the bank. They didn’t see me working for free with no salary at all for weeks and weeks. They didn’t see me having to take money from my personal checking account in order to meet payroll. Yep, I sure was lucky.When you start your own business you don’t see things like those I just mentioned. If you are serious about starting your own business then you have heard that you must have a ‘business plan’ to take to the investors. Well, I have looked at lots and lots of business plans over the years and for the most part they were all worthless. People who want to start a business tend to see the world through rose colored glasses. For example when they get to the part on the business plan where they are to assess the competition nearly everyone completely under estimates not only the number of competitors but the strength of the competitors too. People who are convinced that they want to go into business for themselves tend to operate with blinders on. I’ve seen people come up with some really outlandish things in the ‘Competition Analysis’ of a business plan.Failure to properly analyze the competition is one of the most common flaws I see in start-up business plans. Here’s an example: I had a gentlemen come to me (as a potential investor) with the idea of starting his own Lexus repair shop. He had been a mechanic for over 15 years and had all of the ‘industry certifications’ and had been through all sorts of courses and schools on how to diagnose and repair just about anything related to Lexus automobiles. He had no experience in how to “run” a repair shop but that’s the subject of another article.Here’s how brief recap of how the conversation about competition went:Me: “What about your competition, who are they? Him: “There really isn’t any”. Me: “What? How do people get their cars repaired now?” Him: “Nearly everyone takes their cars to one of the local dealerships for repairs. I can do it a lot cheaper than the dealerships because I will not have all their overhead.” Me: “So there are no independent shops that work on Lexus?” Him: “There are some independent shops but they are so small that I wouldn’t consider them real competitors.” Me: “So why are they so small?” Him: “I think their prices are too high.” Me: “Are their prices lower than the dealerships who are doing the majority of the work now?” Him: “Yes. The independent shops are almost always a lot cheaper than the dealerships.” Me: “So maybe the independents are so small because people who own a Lexus are not swayed by lower prices. After all they paid a lot for their car. Maybe they are not as price conscious as you think.” Him: “I can do the same work for 30% to 40% cheaper, how could they not be interested in that?”Can you see what’s going on here. This guy was convinced he could do it better, faster and cheaper than anyone else. Yet the facts as he presented them showed that the customers he wanted to go after were not easily persuaded by the “cheaper price” argument which happened to be what he wanted to use as his unique selling proposition.One of my favorite sayings when talking to people about their business plans is “Don’t confuse me with the facts because my mind is already made up.” A business plan is supposed to get people to think. To do an unemotional analysis to see if there really is a viable opportunity there. But too many of them will do all sorts of mental gymnastics to justify their position. I don’t care what type of business you are thinking about starting, there is competition out there. Don’t kid yourself.Another big problem I see in business plans is a lack of management experience. Here’s another real world example. I had a ‘friend of a friend’ ask me to meet with a friend of theirs. It was a woman who had the idea of starting her own “cookie bakery”. She didn’t have the funds necessary and was coming to me as a potential investor. I agreed to meet with her. One of the very first questions I asked was “Where did you come up with the idea of starting your own bakery”? She said that for years she had baked cookies and she had lots and lots of people tell her she should start her own bakery. These people (mostly friends and family) said she baked the best cookies they had ever tasted. She had brought some to our meeting and to her credit, they were very good.When I asked her about her experience in running a bakery she told me she had never actually worked in a bakery. As a matter of fact, she had been a secretary up until the birth of her second child and had taken 6 years off. Now that the child was going to school, she was ready to “go into business for myself”.Out of respect for the friend who had asked me to meet with her I didn’t quickly end the meeting as I normally would have. Instead I took some time and asked her some questions. My goal was to try to get her to stop being emotional and to only analyze the facts. A few of the questions were:”Have you picked out a location?”
“Do you have any idea what the lease will be?”
“How much will it cost to renovate to get it ready?”
“How much equipment will it take?”
“Can you lease it or do you have to buy it?”
“Where are you going to get your customers?”
“How much is the insurance going to be?”
“What about liability insurance in case someone claims your cookies made them sick?”
“Where are you going to get your customers?”
“How are you going to advertise?”
“How about utilities?”
“How much will it cost you to make a single cookie?”She stumbled through most of her answers and in exasperation said “You don’t seem excited about this idea”. She said she was really excited about the idea and was hoping I would get excited to. I told her I get excited when the companies I have invested in are making a lot of profit.The meeting was going nowhere and I couldn’t get through all of her emotions so I told her to get all of the information together then total up the monthly expenses with no salary for herself and come back and tell me how many cookies she needed to sell everyday just to pay the bills. She told me that as the owner she should get a salary. I agreed and said your salary will be paid from the profits so your income is virtually unlimited. Just put the numbers together and give me a call when you can tell me how many cookies you have to sell everyday just to pay the bills.Guess what? I never heard back from her. I was the one who rained on her parade with a harsh dose of reality.It takes a lot of courage to go into business for yourself. It’s not for the faint of heart and requires a 100% commitment. And in the beginning it requires you to take a realistic look at the facts without deluding yourself. If you are going to present your business plan to anyone else with the hopes of having them invest in your new venture, you better be ready for some really tough questions. The best way to prepare yourself for those types of questions is to not kid yourself when working up your business plan. As a final note don’t EVER tell a potential investor that there is no competition. They know better.
Who Are You Trying to Kid With That Business Plan?
S&P 500 Rallies As U.S. Dollar Pulls Back Towards Weekly Lows
Key Insights
The strong pullback in the U.S. dollar provided significant support to stocks.
Treasury yields have pulled back after touching new highs, which served as an additional positive catalyst for S&P 500.
A move above 3730 will push S&P 500 towards the resistance level at 3760.
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Pfizer Rallies After Announcing A Huge Price Hike For Its COVID-19 Vaccines
S&P 500 is currently trying to settle above 3730 as traders’ appetite for risk is growing. The U.S. dollar has recently gained strong downside momentum as the BoJ intervened to stop the rally in USD/JPY. Weaker U.S. dollar is bullish for stocks as it increases profits of multinational companies and makes U.S. equities cheaper for foreign investors.
The leading oil services company Schlumberger is up by 9% after beating analyst estimates on both earnings and revenue. Schlumberger’s peers Baker Hughes and Halliburton have also enjoyed strong support today.
Vaccine makers Pfizer and Moderna gained strong upside momentum after Pfizer announced that it will raise the price of its coronavirus vaccine to $110 – $130 per shot.
Biggest losers today include Verizon and Twitter. Verizon is down by 5% despite beating analyst estimates on both earnings and revenue. Subscriber numbers missed estimates, and traders pushed the stock to multi-year lows.
Twitter stock moved towards the $50 level as the U.S. may conduct a security review of Musk’s purchase of the company.
From a big picture point of view, today’s rebound is broad, and most market segments are moving higher. Treasury yields have started to move lower after testing new highs, providing additional support to S&P 500. It looks that some traders are ready to bet that Fed will be less hawkish than previously expected.
S&P 500 Tests Resistance At 3730
S&P 500 has recently managed to get above the 20 EMA and is trying to settle above the resistance at 3730. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.
If S&P 500 manages to settle above 3730, it will head towards the next resistance level at 3760. A successful test of this level will push S&P 500 towards the next resistance at October highs at 3805. The 50 EMA is located in the nearby, so S&P 500 will likely face strong resistance above the 3800 level.
On the support side, the previous resistance at 3700 will likely serve as the first support level for S&P 500. In case S&P 500 declines below this level, it will move towards the next support level at 3675. A move below 3675 will push S&P 500 towards the support at 3640.
The Heart of Texas, The Alamo
While living in a place sprinkled with history may sound exciting and appealing to many people, actually appreciating the historical site that might be located across the street from where you live might require an extra second of consideration. The importance of historical events, historical constructions, or historical places might dwindle if you see them every day, but taking a spare moment to acknowledge them will make you feel a sense of wonder, humility, and appreciation. That is what the residents of San Antonio, Texas, experience every day as they walk past the most important historical site of Texas, also known as the heart of Texas, the Alamo.
Like many other historical cities, the city of San Antonio, Texas, began from one structure. One structure that had a mission and managed to attract people to the region. While in the old world in Europe, you might encounter fortresses that stood the test of centuries passing by, in Texas, there is the Alamo. Built May 1, 1718 by Father Antonio de Olivares, the Payaya, and the Pastia Indians, the Mission San Antonio de Valero, known today as the Alamo, is a historic Spanish mission and fortress compound meant to bring education and Christianity to the local American Indians.
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By 1793, Mision San Antonio de Valero was secularized, meaning that its purpose was cast aside, and the dissociation from religion took place. However, the structure remained. Decades went by, and history reshaped it, but the Alamo maintains its appeal for visitors from all over the country. From its stone front to the stories they whisper, this Shrine of Texas Liberty can share its story one more time. If you’re interested in living in the shadows of Texan history, go ahead and contact the local real estate agents in San Antonio TX. You might even discover some new things about the city from them.
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The Mission
At the start of the 18th century, the Spanish settlers and their government established several Roman Catholic missions in the Eastern side of Texas. As the distance between the missions was too large, the need for a waystation to simplify supply access resulted in the new mission, San Antonio de Valero, being built in 1718 near the San Antonio River. The leader of this mission was Father Antonio de San Buenaventura y Olivares, and it started with three to five converted American Indians from Mission San Francisco Solano. Close by, the governor of Spanish Texas founded San Antonio de Bexar, the first civilian community in Texas, the present-day city of San Antonio.
As the first settlement was considered a risk area for flooding, they moved the mission on the river’s west bank within a year. It expanded to 3 acres, and the permanent buildings were erected. The number of mission Indians grew to 300 by 1744, and the mission was self-sufficient with 2,000 head of cattle and 1,300 sheep. The farmland surrounding the mission was covered in crops of corn, beans, and cotton. Aside from the church that was never completed, around 30 adobe buildings were constructed for storerooms, workrooms, and residential quarters for the Indian residents.
The mission walls could withstand raids from Apache and Comanche attackers, and in 1745 around 100 mission Indians drove off 300 Apache raiders, saving the mission and the town from destruction. As a precaution and response to attacks on other missions, walls were built to enclose the convent, church, Indian homes, and cannons placed near the main gate. Because of their increased liability, the missions were stripped of their influence, Apache tribes stole the horses, and the Alamo lost its ability to support a large number of converts. With only 12 mission Indians left, by 1793, the mission was secularized.
The Battle
A nickname like the Alamo might make one wonder about its origins. Nowadays, the Alamo stands for the structure that began the foundation of the city of San Antonio, the original name is still used but it is less known. Still, the name actually started during the 19th century from either the Spanish word for cottonwood trees or from the “Alamo Company” of San Carlos de Parras. The source isn’t clear.
The Alamo saw the first conflicts during the Mexican War of Independence as Mexico fought to secure its independence from Spain. The regional struggles transformed parts of the mission in the political prison and hospital between 1806 and 1812. From 1821 to 1835, the Alamo was under Mexican control until the Texan Revolution came. According to historians, there was a siege at the San Antonio de Bexar that lasted nearly two months after which the garrison was surrendered by the Mexicans to the Texian forces. The victory was deceiving. While General Cos assumed command of 100 Texian and Tejano soldiers, he requested 200 more men from the Texian government, fearing the garrison might not withstand an attack. While the government denied the request and sent only 60 more men, fortification began, and cannons were installed to help defend the Alamo.
Mexican attack started with 1,500 men and the siege lasted for 13 days. The Texian army had limited chances of victory against such numbers. William Travis, co-commander of the Alamo, wrote a letter “To the People of Texas & All Americans around the World”, pleading for reinforcements under the patriotic vow “victory or death”. The result was that 300 men started the Alamo journey, but only 100 reached their destination. The Mexican reinforcements increased their numbers by 1,000. The courage to stand their ground and not cower in the face of such power, even if they knew that death awaited them, lives on to this day in the spirit of San Antonio. Almost all Texian defenders of the Alamo died in battle, and a third of the Mexican forces were killed.
While the Mexican President-General Antonio Lopez de Santa Anna saw this victory as a tool to strike fear into the hearts of the Texian soldiers and assumed that it would end their resistance, the opposite happened. The Mexican army was defeated at San Jacinto Battle, and Santa Anna was captured, resulting in the retreat of the Mexican army and the end of the Texas Revolution. This year, the Fiesta San Antonio, the city’s biggest festival that commemorates the Battle of the Alamo was postponed due to COVID on June 17-27, having usually been planned during April.
The Legacy
After the Battle of the Alamo, views of Santa Anna alternated between the national hero who conquered the Alamo and the pariah. With his defeat and capture at the Battle of San Jacinto, disgrace followed his memory, with many Mexican accounts written by outspoken critics of the former President-General Santa Anna. Historical facts from the Battle of the Alamo were overshadowed in Mexican history by the importance of the Mexican-American War of 1846-1848.
The Alamo remained known by the largely Tejano population for its decades of assistance as either a mission, a hospital, or a military post. However, the growing English-speaking population knew it best for the Battle of the Alamo. Determining which of the two sides had more reason and justification for their view is up to you. Still, the growing English-speaking population was heard, and the Alamo imagery of Texian resistance grew. This led to a discrepancy between the two people living in the area, Texians and Tejanos, a drawn line with long-lasting effects until the early 20th century. Social differences divided the inhabitants, and this could also be seen in Mexico. Newspapers were either glorifying Santa Anna as the “Illustrious General” with his “Invincible Army” until his defeat or questioning the Battle of the Alamo’s logic that came at a great cost.
In the United States, the Alamo was remembered and used as a parallel to the Vietnam War. Rationalizing the need to send more troops to Southeast Asia, US President Lyndon Johnson remarked, “Just like the Alamo, somebody damn well needed to go to their aid” when speaking of the soldiers already on the front who were struggling. The backlash came from the public and the media (newspapers), with New York Times underlining the need to remember the Alamo for the “gallant men [who] died needlessly … To persevere is folly. To dare to retreat from error can be the highest form of courage.” The Alamo was the foundation for many anti-war protests during the late 1960s and early 1970s.
As a UNESCO World Heritage Site, the Alamo inspired historians to write it down, directors to film it, and songwriters to sing it. Its legacy lives on through the books The Fall of the Alamo by Reuben Potter, The Alamo by John Myers Myers, the movies The Immortal Alamo by Gaston Melies (1911), The Alamo by John Wayne (1960), The Alamo by John Lee Hancock (2004) and several ballads like The Ballad of Davy Crockett by Tennessee Ernie Ford, The Ballad of the Alamo by Marty Robbins, or Remember the Alamo by Johnny Cash.
Conclusion
The cry “Remember the Alamo!” was heard first during the battle of San Jacinto when 800 Texans defeated the 1,500 men of the Mexican army. The same cry was revived during the Mexican-American War as the two armies fought during 1846-1848. The most exciting thing about history is that it allows us the time to see how lessons can be learned from it. However, the most important thing is not to forget history because then we are destined to repeat it.
The stories of the Alamo can still be felt, seen, and experienced in the city of San Antonio, Texas. Some might be known by many, some by few, and we are curious to learn more about what happened there. Many long-time residents, possible descendants of survivors of the battle, might have some uncovered histories to share, but you can try to learn more from them.
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Let us know in the comments section below if the history of a place influences your relocation decision. It might make a difference for some and none for others. We’re only asking because we know that this country was forged on the backbone of many small or large battles, and this was just one of them. This was the Heart and Shrine of Texas Liberty. Like & Share this article with friends and family as these little pieces of national history should be remembered and treasured by all.