A Little History
For those of you unfamiliar with my (Joe’s) other life, I’ve spent the last 12 years (until Tuesday that is) as an investment adviser helping clients prepare for and maintain their retirement. While researching investments, I had the opportunity to acquire knowledge about a wide range of topics from a diverse mix of sources. Initially the focus was specific companies, then it expanded and I began to look at entire industries, and ultimately the economy as a whole. Along the way, I started sense that something was missing; an important piece to the puzzle that was being ignored.
That missing piece was and is local investing.
The Key
Most of the reasons for local investing are beyond the scope of this post, but one important factor is the re-circulation (or local multiplier) rate. The re-circulation rate is one measurement used to determine how long money stays in a community (and gets reused over and over); since the turn of the century it’s fallen from 25-30, to less than 10. A declining rate is like ajr slowly leaking from a tire, if not fixed it goes flat. With a city or town, it’s how they lose their vibrancy. Reversing that trend is why I decided to leave my primary profession and why I bought Workshed with Brian.
How Will That Help?
You might be wondering how a website/ marketing company can help fix the economy. By working with local businesses and entrepreneurs directly (at Workshed) we are able to see first hand what is working, what is missing, and what’s needed to operate a sustainable (as in earning enough money to stay in business) business. Access to capital is part of that equation, but so is access to the knowledge, wisdom, and experience of others. With every project, we learn a little more about how to make that happen and can share it with past and future clients. So far, we’ve achieved modest success with the client’s we’ve worked with, and our work is positively contributing to their sales!
If you need help with something business related give us a call, we don’t have all the answers, but so far we haven’t been stumped.
But Wait There is More!
And another thing, don’t let cost be an issue. We won’t do a project if we don’t think it will generate a positive return for our clients and we are willing to offer payment arrangement to accommodate most budgets.
