Faster Computer Speed – Tips to Make Computer Run Faster Without Paying Too Much

In my opinion, no one wants to pay too much to make computer run faster such as buying a new RAM if it is really not needed. If this happens the same to you, you are in the right place here for useful tips to regain faster computer speed again.

Simplify Your Startup Selections.

There are certain programs which start every time when you boot up your system. During the startup phase, they will take up some of your system resource and CPU uasge. That is to say, additional or unwanted startup items will definitely extend your startup time, sometimes by several minutes. So to get faster computer speed, please feel free to get rid of them! To manage startup list, click on Start / Run, then type “msconfig” and press “Enter”, then select the Startup tab.Here, you can check the startup list and then UNcheck the box(es) next to programs that you do not need to load with Windows and press Apply. But please not that do not disable your anti-virus program, anyway. It helps you to real-time well protect your computer from viruses, spyware.

Remove the unwanted programs.

With use, you must have a bunch of software packages on your hard drive that are no longer needed, or they were automatically installed when you downloaded some other programs, for example, Toolbars, file-sharing programs, free email enhancers, download managers. These uninvited “guests” are the main obstacle to get faster computer speed, or make computer faster. Or sometimes, the will cause web pages to load slowly. To do easily get get faster PC, please go to Start, Control Panel, then Add/Remove Programs to see what are installed on your computer and then remove the ones that you do not need any more. You can also search the websites to learn about the ones you’re not sure about.

Well protect the hard disk.

We know that with the hard disk, we can successfully store stuffs on the computer. But both Windows and applications will temporary files on the hard drive, taking up valuable space needlessly. But most of the time, files are not put as a complete unit on the hard disk, but being cut and placed in different corners of the hard disk instead. A hard disk, which is nearly full or chaotic will slow down disk access speed and then affect entire computer speed. Besides, when surfing the Internet, the TEMP Internet file folder will become larger and larger, causing Internet Explorer to slow down or malfunction. So to make computer run faster, please remember to regularly take out the below actions:

1) go to Start -> All Programs -> Accessories -> System Tools -> Disk Cleanup. And then run it to clean up the useless system junk files from your selected drive.

2) go to Start -> All Programs -> Accessories -> System Tools -> Disk Defragmenter. Disk Defragmenter is an utility which helps to rearrange the files on the hard disk, making them stay in order and much easier to be accessed to.

Hence, the computer or the applications will run much faster than before.

Clean your registry on regular basic.

As days by, your Windows registry will pile up junk and is full of invalid and obsolete keys or remnants of programs left after uninstalling programs from your computer. All of theses can result in slow startups and could be the major cause for your poor computer performance. So to always enjoy faster computer speed, you sould have a good registry cleaner in hand. It will repair your Windows registry by removing these invalid keys that are left behind or added from spywares/ viruses.

Robert Kuok

Robert Kuok is a Malaysian billionaire and business tycoon who is currently the richest man in both Malaysia and Southeast Asia, with an estimated wealth of seventeen billion dollars. He owns multiple companies in numerous fields of business – from sugar mills to food products, from farms and plantations to hotels and resorts. He is most known for owning the world-class Shangri-La Hotels, a chain of hotel-resorts that now runs over sixty hotels worldwide – in cities like Tokyo, Dubai, Manila, Singapore, Kuala Lumpur, Hong Kong, Vancouver and Paris.

Robert is also called the “Sugar King of Asia” for having eighty percent of the Malaysian sugar production, which accounts for ten percent of the total world production, under his control.

Robert’s amazing story of rising up from poverty and becoming Southeast Asia’s richest person has become a shining inspiration for a lot of people; Robert is a firm believer of hard work, diligence, and a broad set of thinking. He believes that these traits allow a person to achieve their goals, and enable them to properly set the course of their life.

Robert has a deep root in Buddhist and Communist beliefs, in helping others and how everyone has an equal opportunity of succeeding, but is hindered by so much corruption – not just in politics, but a corruption of the entire system of life itself. In his interviews, Robert often cites his mother and his brother as his influences, stating:

“Otherwise, probably I would have been an arrogant middle- class Chinese, only caring about materialism, worldly pleasures and fleshpot pleasures. When I am tempted, I think of what William went through. He sacrificed his life trying to help the underprivileged.”

Having a good understanding of the communist mindset, Robert has had very good relations with China, compared to other businessmen of his stature. In fact, he was among the very first foreign entrepreneurs who did business with Communist China, right after Chairman Mao Tse Tung’s “Cultural Revolution”.

Robert has established a good deal of connections in mainland China, which enabled him to successfully gain the trust and acceptance of the communist leaders. And while he does hold great favor amongst the leadership of the country, Robert is in no way subservient to them. It is said of him:

“Robert is the best China watcher in the business. He understands the steel backbone of the Communist Party, but while other Hong Kong tycoons tend to be hugely subservient to Beijing, he is in no way obsequious.”

In spite of having a lot of wealth, power and influence, Robert is a very humble man, and loves to live the simple life. He rarely indulges himself with the pleasures of life, nor does he love to be in the company of the press. In fact, Robert is known to be very media-shy, so much so that he only has had one or two interviews over the course of his entire career.

This love for the simple life has allowed Robert to remain humble in spite of all his accomplishments, and has forged in him a lifestyle that he passed down to his children, thus teaching them to wisely handle all the wealth that they have. He stated in an interview with him:

“Everything on earth is dynamic. I can only give my children a message, not money. If they follow it, we can go another three or four generations.”

Robert’s philosophy in business can be summed up into four words: work hard, work smart. From a very young age, Robert has not only learned the value of diligence and hard work, but he has also discovered that it takes brains to become successful in the business world, and life in general.

He has instilled these values in his children very well, so much so that all of his children have gone on to become very famous and successful in their own right. Tim Dattels, a high-ranking officer at TPG Capitals, says of Robert:

“There’s only one Robert Kuok, there’s no doubt. But he has instilled his business philosophy deep into the family. With what he has built, they are well set to continue, whatever happens.”

Because of the life that he has experienced, Robert has made it a mission of his to ensure that he gives the next generation the opportunity that he was not able to get by his philanthropic work, the Kuok Foundation. This charitable organization aims to provide scholarships for numerous Malaysian youth to enable them to study and work in their area of expertise. From its inception, the Kuok Foundation has given thousands of scholarships to various students throughout Malaysia, giving hope to the future of the country.

Robert’s successes in the business world have granted him a certain level of political influence, as he was instrumental in the negotiations between Malaysia and China by conveying information between both countries and setting up meetings between the two countries’ governments, resulting in the full diplomatic cross recognition between them. Aside from this, Robert was also included in the list of advisors pertaining to the future of Hong Kong, and having a minority stake in CITIC Pacific, a Hong Kong-based conglomerate holding company.

Today, even at age eighty-nine, Robert continues to actively participate in the running of his family’s companies, although he has delegated most of the managerial work to his children and nephews. He does, however, serve as a voice of reason and counsel, always encouraging the next generation to do their best to achieve their goals in life.

5 Powerful Tips to Consider Before You Start a Catholic Business

There are about 1.2 billion Catholics in the world. With that many people with something in common, there is a great opportunity not only to build a great business but one that is socially good virtuous.

Now, in reality, a Catholic business shouldn’t be any different from any other business aside from its goals. When devout Catholics want to start a business, you’ll often see them create a book store. That’s great, but often these small shops get dominated by larger online chains.

Here are some tips for starting a business that carries with it the conviction that comes with faith:

  1. The most important thing to realize that everybody needs a solution to something, and if you can fulfill that need you are making their life better. Your business does not have to be overtly Catholic (i.e. a Catholic book store, or a Catholic bakery), rather your mission statement and the soul of your business should be geared toward holiness. That way, you could start a web development, show shine, or online fishing store and still carry with it the impact of your faith.
  2. You need to learn effective selling and marketing skills. I can’t tell you how many Catholic businesses I’ve seen that have horrible promotional campaigns, terrible websites, and still wonder why they can’t get any customers. Just because your business is faith-based it doesn’t mean that you can ignore the fundamentals.
  3. Engage in social media. There are a lot of folks out there that are willing to spread the word of your business, especially if you’ve engaged them on a consistent basis. Do not ignore the revolution that is taking place, and take a course on social networking if you have to.
  4. Find a mentor – even if they are not Catholic. You need someone to bounce ideas off of and to ensure that your ideas are realistic and doable. A mentor will act as a guide and will make sure that you are successful.
  5. Join a mastermind group and share ideas. The best way to learn something new is to learn it from someone else. There are meetup groups all over the place and for almost every industry, and you need to take advantage of them. One additional benefit is that you’ll be networking with other people who may become future clients.

The point of this article is that you need to do everything that a secular business person needs to do. Just like being religious won’t help you to be a better soccer player, if you intend to join the game of business you need to learn the rules of business. So get out there, and start learning.

The Evolution of Word Wide Web – WWW

Introduction

World Wide Web (WWW) is the system of interlinked hypertext documents containing text, images, audio, videos, animation and more. User can view and navigate through these documents using hyperlinks or navigation elements which have references to another document or to the section of the same document. In a broader sense "The World Wide Web is the universe of network-accessible information, an embodiment of human knowledge."

History of World Wide Web

WWW was first proposed in 1990 by Tim Berners-Lee and Robert Cailliau while working at the CERN, the European Council for Nuclear Research. Both of them came out with their individual proposal for Hypertext systems and later on they united and offered joint proposal. The term "Word Wide Web" was first introduced in that joint proposal. The history of every invention has lot of pre-history. Similarly the World Wide Web has also lot of pre-historical gradual development of hypertext system and internet protocols which made the WWW possible. The gradual development started in the early 1945, with the development of Memex, a device based on microfilms for storing huge amount of documents and facilitating organizing those documents. Later in 1968 "Hypertext" was introduced, which made linking and organization of documents fairly easy. In 1972 DARPA (Defense Advance Research Project Agency), started project that connect all research centers to facilitate data exchange which later adopted for military information exchange. In 1979 SGML (Standard Generalized Markup Language) was invented to enable sharing of documents for large government project by separating content from the presentation and enabling same document to be rendered in different ways. In 1989 Tim Berners-Lee came out with Networked Hypertext system form CERN Laboratory. In 1990, joint proposal for hyper text system was presented and the term "World Wide Web" first introduced. In 1992 first portable browser was released by CERN, and that had picked up industry interest in internet development. Today web is so much popularized and has grown to be so invaded in to our lives; it becomes almost impossible to imagine the World without web.

Web Evolution – What and How?

Each technology has certain distinguished characteristics and features. Similarly web has certain features such as data, services, mess-up, APIs, social platform and more. These features are continuously and progressively evolving in distinct stages with qualitative improvements over the existing. Web evolution is categorized and hyped with some fancy marketing terms like "Web 1.0", "Web 2.0", "Social Web", "Web 3.0", "Pragmatic Semantic Web", "Pragmatic Web" and many more.

Yihong Ding, PHD candidate at Brigham Young University, in his article on "Evolution of Web" explained the development of Web by analogically comparing it with the human growth. Yihong Ding stated "The relationship between web pages and their webmasters is similar to the relationship between children and their parents. As well as parents raise their children, webmasters maintain and update their web pages. Human children have their normal stages of development, such as the newborn stage, pre-school stage, elementary-school stage, teenage stage, and so on. Analogically, web has its generations, such as Web 1.0, Web 2.0, and so on. "

Along with technological advancement web design also changed over the period of time. Initial design was simple hypertext read only system which allowed users to read the information. User was just a viewer of what is presented on the web. Gradually images and tables added with evolution of HTML and web browsers, which allowed making better design. Development of photo-editing tools, web authoring tools and content management tools enabled designer to begin creating visually appealing website design layouts. In the next phase of development, web design changed with the change in usability and the focus is diverted on the users rather than the content of the website. User interaction and social touch is applied to the web design. Now user is not just a viewer. User can drive the web with feedback, information sharing, rating and personalization. Gradually we got the mature blend of function, form, content and interaction, called Read / Write Web. Continuing this evolution, meaning is added to the information presented on the web so that online virtual representatives of human can able to read and interprets the presented information. This kind of web where user agent imitating human behavior, can read and understand the information using artificial intelligence is called semantic web.

Web 1.0 (Read Only Web)

World Wide Web is evolved in stages. First stage was the basic "Read Only" hypertext system also termed as Web 1.0 since the hype of Web 2.0. In fact in the original proposed web model, Tim Berners-Lee envisioned web as the Read / Write Model with HTTP PUT and HTTP DELETE method. These methods were almost never used just because of security reasons.

Some of the Characteristics of Web 1.0

1. In Web 1.0 web master is constantly engaged with responsibility of managing the content and keeps user updating. Majority of hyperlinks to the contents are manually assigned by the web master.

2. Web 1.0 does not support mass-publishing. The content on the website is published by the web master and thus does not leverage the collective intelligence of users.

3. Web 1.0 uses basic hyper text mark up language for publishing content on the internet.

4. Web 1.0 pages do not support machine readable content. Only human who are web readers can understand the content.

5. Web 1.0 provides contact information (email, phone number, fax or address) for communication. Users have to use the off-line world for further communication with this contact information.

6. In Web 1.0, web pages are designed to react instinctively based on the programmed condition. Specific result or response is generated when the programmed condition is satisfied. Web 1.0 model does not understand remote request and can not prepare response for potential request in advance. To clearly understand above characteristics of web 1.0, Yihong Ding in his article on "Evolution of World Wide Web" has analogically correlated World of Web 1.0 with the world of a Newborn baby.

Newborn Baby: I have parents

Web-1.0 Page: Webmasters

Newborn Baby: Watch me, but I won't explain

Web-1.0 Page: Humans understand, machines don't

Newborn Baby: Talk to my parents if you want to discuss about me

Web-1.0 Page: Contact information (email, phone number, fax, address, …)

Newborn Baby: My parents decide who my friends are. Actually, I don't care

Web-1.0 Page: Manually specified web links

Newborn Baby: Hug me, I smile; hit me, I cry (conditional reflex)

Web-1.0 Page: Reactive functions on web pages

Source: Analogy from the Article by Yihong Ding from http://www.deg.byu.edu/ding/WebEvolution/evolution-review.html#w1:1 "The web 1.0 pages are only babies.

Web 2.0 (Read Write Web)

"Web 2.0 is the understanding that the network is the platform and on the network is platform roles for the business is different. And the cardinal role is user adds value. And figuring out how to built database and things to get better so that more people use that and it's the secret of web 2.0.

Web 2.0 is the business revolution in the computer industry caused by the move to the internet as platform, and an attempt to understand the rules for success on that new platform. "[4]

In Web 2.0 the idea of ​​Consumer (Users) and Producer (Web Master) is dissolving. Web 2.o is more about communications and user interactions. Web 2.0 is all about participation. "Content is the King" often cited quote during early web 1.0 days, is now turned in to "User is the King" in Web 2.0. In web 2.0 users communicates through blogging, wikis and social networking websites. Everything on the web is tagged, to facilitate easy and quick navigation. Web 2.0 is also about combining it all in one single page by means of tagging and AJAX with better usability via lots of white space, and a cleaner layout. The API ability makes it possible for programmers to mash up data feeds and databases to cross reference information from multiple sources in one page. In contrast with web 1.0, web 2.0 has collective intelligence of millions of users.

Web 2.0 is all about improved version of World Wide Web with changing role and evolving business model where users learned to communicate with the other users instead of just communicating with the publisher of the content.

Some of the Characteristics of Web 2.0

1. Web 2.0 is the second version of Web providing RIA (Rich Internet Application) by bringing in the desktop experience such as "Drag and Drop" on the webpage in browser.

2. SOA (Service Oriented Architecture) is the key piece in Web 2.0. Buzzwords around SOA are Feeds, RSS, web services and mash up, which defines how Web 2.0 application exposes functionality so that other applications can leverage and integrate those functionalities providing much richer set of applications.

3. Web 2.0 is the Social web. Web 2.0 Application tends to interact much more with the end user. End users are not only the users of the application but also the participants whether by tagging the content, whether he is contributing to the wiki or doing podcast for blogging. Due to the Social nature of application end user is the interval part of the data for the application, proving feedbacks and allowing application to leverage that user going to use it.

4. In Web 2.0 philosophy and strategy is that "The Web is open". Content is available to be moved and changed by any user. Web site content is not controlled by the people who made the web site but by the user who are using the web site.

5. In Web 2.0 Data is the driving force. Users are spending much more time online and started generating content in their passive time. Web 2.0 requires some of the key technologies to be used in the development of web pages. One of the important technologies is the AJAX which supports development of rich user experience.

6. Web 2.0 websites typically include some of the following key technologies.

– RSS (Really Simple Syndication), which allows users to syndicate, aggregate and to set up the notification of the data using feeds.

– Mashups, which makes it possible to merge the content from different sources, allowing new form of reusing of the information via public interface or APIs.

– Wikis and Forums to support user generated content.

– Tagging, which allows users to specify and attach human readable keyword to web resource.

– AJAX – Asynchronous Java Script and XML, which is the web development technique, allowing exchange of interactive data behind the scene without reloading the web page.

To clearly understand above characteristics of web 2.0, Yihong Ding in his article on "Evolution of World Wide Web" has analogically correlated World of Web 2.0 with the world of a Pre-School Kid.

Pre-School Kid: I have parents

Web-2.0 Page: Webmasters (blog owners)

Pre-School Kid: Parents teach me knowledge (though often not well organized)

Web-2.0 Page: Tagging

Pre-School Kid: I understand but maybe imprecise and incorrect

Web-2.0 Page: Folksonomy

Pre-School Kid: I can deliver and distribute messages, especially for my parents

Web-2.0 Page: Blogging technology

Pre-School Kid: Who my friends are is primarily determined by my parents' social activities and their teaching

Web-2.0 Page: Social network

Pre-School Kid: Multiple of us can be coordinated to do something beyond individual's capabilities

Web-2.0 Page: Web widget, mashup

Pre-School Kid: I can do suggestion based on my communication with friends

Web-2.0 Page: Collective intelligence

Following table distinguish the difference between Web 1.0 and Web 2.0

Web 1.0 is about: Reading

Web 2.0 is about: Reading / Writing

Web 1.0 is about: Publishing

Web 2.0 is about: Feedbacks, Reviews, Personalization

Web 1.0 is about: Linking Content using Hyperlinks

Web 2.0 is about: mashup

Web 1.0 is about: Companies

Web 2.0 is about: CommunityCommunity

Web 1.0 is about: Client-Server

Web 2.0 is about: Peer to Peer

Web 1.0 is about: HTML

Web 2.0 is about: XML

Web 1.0 is about: Home Pages

Web 2.0 is about: Blogs and Wikis

Web 1.0 is about: Portals

Web 2.0 is about: RSS

Web 1.0 is about: Taxonomy

Web 2.0 is about: Tags

Web 1.0 is about: Owning

Web 2.0 is about: Sharing

Web 1.0 is about: Web form

Web 2.0 is about: Web Application

Web 1.0 is about: Hardware Cost

Web 2.0 is about: Bandwidth Cost

Web 3. 0 (Semantic Web)

Web is no longer linking and tagging of information and resources. With the advent of semantic web concept, special information is attached to the resources or information so that machine can understand and read just like human.

Timer Berner Lee envisioned

"I have a dream for the Web [in which computers] become capable of analyzing all the data on the Web – the content, links, and transactions between people and computers. A 'Semantic Web', which should make this possible, has yet to emerge, but when it does, the day-to-day mechanisms of trade, bureaucracy and our daily lives will be handled by machines talking to machines. The 'intelligent agents' people have touted for ages will finally materialize. "

Semantic Web has derived from his vision of web as the universal medium for exchange of data, information and knowledge. Web 3.0 or Semantic Web is an Executable Phase of Web Development where dynamic applications provides interactive services and facilitates machine to machine interaction. Tim Berner Lee has further stated

"People keep asking what Web 3.0 is. I think maybe when you've got an overlay of scalable vector graphics – everything rippling and folding and looking misty – on Web 2.0 and access to a semantic Web integrated across a huge space of data, you 'll have access to an unbelievable data resource. " Semantic web is the an extension of World Wide Web in which web content is expressed in machine readable language, not just in nature language, so that user agents can read, process and understand the content using artificial intelligence imitating human behavior. In other words Semantic Web is an extension of the web where content expressed can be processed independently by intelligent software agents.

There can be several agents one can program within the context of vocabulary of the vertical domain.

For example

"Travel Agent", who keep searching chipset air tickets based on your criteria and notify you when it gets the perfect one.

"Personal Shopper Agent", who keeps looking for the specific product on the eBay and get it for you once it finds the one that match with all of your criterions.

Similarly we can have "Real Estate Agent", "Personal Financial Advisor Agent" and many more.

All user is doing is just creating their personal agent which talks with the web services which are exposed publicly and there by taking care of lots of repetitive tasks.

Precisely Web 3.0 = Every human + Every device + Every Information

Characteristics of Semantic Web

1. Unlike database driven websites, In Semantic Web database is not centralized.

2. Semantic Web is the Open System where schema is not fixed as it may take any arbitrary source of data.

3. Semantic Web requires using Meta description languages ​​such as Web Ontology Language and the Resource Description Framework (RDF). Annotation requires lot of time and effort.

Web n.0 – a Glimpse of the Future

Let me add one more element to the previous formula

Web 3.0 = Every human + Every device + Every Information = Everything in the context of current technology advancement.

Web 3.0 is still evolving and it is going to encompass everything. One can not envision anything beyond web 3.0 in the current technology advancement.

Breaking all current technological capabilities Raymond Kurzweil, the inventor of OCR (Optical Character Reader) envisioned Web 4.0 as the Web OS with intelligent user agents acting parallel to human brain. Following figure illustrate the evolution of Web along with technology advancement and the semantics of social connections. Source: Nova Spivack and Radar Networks

Conclusion

The evolution of web has gone through phases as mentioned in this article and that has introduced numerous technologies and concepts in various areas; software, communication, hardware, marketing, advertising, content sharing, publicity, finance and many more.

In a way the World Wide Web has changed the way people were used to look at things earlier. I believe this evolution is never ending and moving towards excellence.

References:

Achieving "Plan B" Through Individualpreneurship – The Notion Of An Individual As An Enterprise

What is entrepreneurship?

Entrepreneurship is a competency (set of knowledge, skills, and activities) required to start, develop, and assume risk for an enterprise. An entrepreneur is an individual who organizes, operates, and assumes risk for an enterprise with the intention of transforming innovative ideas in products and/or services for a profit.

An enterprise is an undertaking for a prize or cause. It is a group of activities intended to produce income organized for:

  • Profit as a business of any size and type: unincorporated or incorporated; one or many entities, of which one is designated as the “holding entity” in a multi-entity structure; and such that one enterprise can incubate another
  • A not-for-profit association, such as a public charity or a private foundation
  • A government agency

When an enterprise is referred to as an entity, the reference is specifically to the holding entity, unless otherwise specified. The term “not-for-profit” is generic; the term “non-profit” means an entity that has been approved by a taxing authority as being exempt from income tax. “Not-for-profit” does not mean “not-for-revenue.”

As a discipline, a business delivers products and/or services to a customer for a profit. As an entity, a business can be:

  • Sole proprietorship (individual)
  • Partnership (pass-through to individuals): general, limited, or limited liability
  • Limited liability company (pass-through to one or more individuals as a partnership or as an equivalent to a “subchapter S” corporation)
  • Corporation: general with directors appointed by shareholder investors, and officers appointed by directors (“subchapter C”), pass-through to one or more shareholder investor individuals who may also be directors and officers (“subchapter S”), professional (pass-through to one or more individuals), or foreign

An upwardly mobile enterprise is a small-to-large enterprise focused on large market dominance (share being either industry-wide or in niches) with local-to-global aspiration in both traditional and non-traditional industries. It has growth potential from highly innovative people, processes, and products and/or services, and/or duplication of a business system. It is financed by founders and/or third-party investors (closely or widely-held) seeking capital appreciation, and potentially cash flow from dividends and/or interest, with medium to high risk. An upwardly mobile enterprise may be founded by one or more entrepreneurs, who either become part of a larger management team as new investors come on board, leave to form another venture as serial entrepreneurs, or retire.

Upwardly mobile enterprises are the heart of Wall Street.

A lifestyle business enterprise owner operates an enterprise in a local community, and may also be the founding entrepreneur:

  • Either as an active owner-manager, making a living from its activities for their own lifestyle
  • Or as a passive owner-manager, with an active management team in place

Lifestyle business enterprises are the heart of Main Street.

A lifestyle business enterprise owner can be a sole proprietor, partner, member (and usually also a manager) of a limited liability company, or a shareholder investor in a corporation (and usually also a director and an officer).

An employee is an individual who provides services in exchange for compensation under an explicit or implicit contract for hire, whereby the employer (hirer) has the right to control what work is performed and how. An independent contractor is self-employed; the hirer has the right to control only the result of the work, and not how it is performed.

What is individualpreneurship?

Individualpreneurship is a mindset for thinking about oneself as an enterprise, actively developing and managing multiple sources of income, and without being highly dependent upon any if possible.

Sources of an individualpreneur’s income include:

  • Employment
  • Entrepreneurship/business ownership
  • Investing

The individualprise represents the aggregation of all sources of an individual’s income. Gross income results from wages from employment, and from both revenues (commissions, dividends, fees, interest, rents, royalties, and sales) and from capital gains from both entrepreneurship/business ownership and investing activities. Net income (profit) results from gross income less the cost of revenue and the expenses required to generate it. The cash flow generated from net income generates wealth, which can be used for investing activities and supporting a personal lifestyle.

The broadest definition of wages includes all remuneration or compensation paid for services rendered by an employee, whether in cash or in other media including bonuses, commissions, and gratuities, based on piece, task, or time.

The need to develop and manage multiple sources of income arises from increasing uncertainty about economic, regulatory, and social trends.

For many individuals, the primary source of income is remuneration from employment, and the largest asset is their home. Employment is an active form of income – in effect employees exchange time for money. However, the best forms of income are those that are residual and passive.

Residual income results from an initial transaction at some time in the past for which an ongoing cash flow is received; passive income results from transactions where the individualpreneur is not actively involved.

Examples of residual income include enrolling members in systems where downstream commissions can be earned; selling items, such as subscriptions that are automatically renewable, or consumables where the ordering is processed by third-parties; and affiliate programs based upon referrals.

The rise and fall of employment opportunities

Prior to the industrial revolution, families were in effect enterprises. Augmenting farm work with other trades and crafts, families flourished in cottage industries working from home, effectively as a group of individualpreneurs. Merchants brought raw materials to homes and would take finished products to markets. Entrepreneurs would “put out” work to families, who were in effect their subcontractors.

As the industrial revolution progressed, work was transferred form homes to factories when the required machinery became too large or expensive. Initially, the “put in” system was used whereby workers in a factory were treated as subcontractors, and eventually became employees. Labor movements were founded to fight for workers’ rights, from which today’s employment and labor laws have evolved.

As the economy shifted from family to commercial and industrial enterprises, employment opportunities grew. Workers could expect long-term employment opportunities as manufacturing demand increased. Through improvements in manufacturing techniques, such as production lines and automation, the scale of units produced increased dramatically. Through improvements in energy, transportation, and telecommunications technologies, reach extended into new geographic markets for acquisition of materials and supplies, and delivery of end-products.

However, recent globalization trends have changed the cost structure of certain activities through outsourcing to providers who offer economy of scale, or to lower cost production markets. As a consequence of information and process control technologies, work has shifted from manufacturing to knowledge-based services. Technology can play a major role by creating jobs in new areas and eliminating them in others.

Enterprises have been impacted dramatically by these trends. For example, “big box” and online stores have had an impact on retailers on “Main Street” – but the savvy ones offer specialty products coupled with exceptional service. Even the local coffee shop is impacted by the price of green beans in global markets. Many manufacturers have downsized through strategic sourcing of components to scale providers, and in the construction industry, general contractors take advantage of prefabricated assemblies. As industries shift from manufacturing to knowledge-based, a major differentiator is marketing capability. Marketing capability requires understanding customer needs and wants, and responding with products and/or services designed for niche or mass markets, regardless of where the components are made.

The consequence is that job markets are dramatically changing, and that old assumptions for employment have become invalid. The notion of working for one employer for forty plus years is no longer possible because technology is changing the structure of industries and the nature of employment. Downsizing has become common, and it is a challenge for the education system to keep up with changing trends in the knowledge, skills, and technical requirements for jobs in emerging enterprises and industries.

The increase in consumer debt coupled with unstable employment opportunities has created stress for many individuals and their families, especially for those who are unemployed, face foreclosure on their homes, or even bankruptcy.

What is “Plan B?”

The term “Plan B” is used to describe an alternative course of action in case the preferred or primary “Plan A” fails. For many individuals, Plan A is a combination of a good education leading to a well-paying job. This form of Plan A stresses individual achievement through successes in education and employment – failures are usually downplayed. However, changing trends in employment put pressure on most individuals’ Plan A, who may face downsizing or even their employer going out of business.

For others, Plan A is a combination of entrepreneurship and business ownership. This form of Plan A can result in failure. However, ultimate success in entrepreneurship and business ownership is often achieved by learning from mistakes and failures over time, and by building teams. Plan A for entrepreneurs and business owners may change from time to time as their ventures change. Eventually, many entrepreneurs and business owners finally get it right as lessons from past failures lead to successes. Many entrepreneurs and business owners become investors in other enterprises with a sense of “wanting to put back,” and often with a higher tolerance for risk than those who have, in effect, earned income in exchange for time.

The uncertainty of the economy, regulation, and social trends as evidenced by downsizing, high consumer debt, government debt and unbalanced budgets, and high unemployment has created the need for all individuals to have a strong “Plan B.”

An effective Plan B begins with the notion of an individual behaving as an enterprise in their own right – the individualprise. Whereas Plan A may provide a primary source of income, developing a Plan B means understanding opportunities for earning multiple sources of income and allocating time efficiently by prioritizing on the best. Executing a Plan B may allow an individual to keep their primary form of employment, but work on other income producing activities, such as part-time employment, home-based businesses, or investing in real estate and/or securities.

The income statement of the individualprise is the tax return – after all, if the an individual has multiple strong streams of income, taxes are likely to be an important consideration.

The basis structure of the Individual Tax Return (IRS Form 1040) applicable to both Plan A and B activities includes:

  • Wages
  • Interest (Schedule B)
  • Dividends (Schedule B)
  • Business income from sole proprietorships (Schedule C)
  • Capital gains (Schedule D)
  • Supplemental income from rental real estate, royalties, partnerships, and subchapter S corporations (Schedule E)

The tax return offers clues as to opportunities for alternative sources of income; however, it is useful to separate the type of income from the forms of business, such as sole proprietorships, partnerships, limited liability companies, and corporations.

Types of income include:

  • Wages – all forms of compensation for full or part-time employment
  • Interest on investments
  • Dividends on investments
  • Capital gains on investments
  • Net income from active revenue generation such as commissions, fees, rents, royalties, and sales less expenses
  • Net income from passive revenue generation activities – primarily real estate rents and royalties less expenses

Types of business forms include:

  • Sole proprietorship and single member limited liability company – an individual that sells products and/or renders services, including as an independent contractor to hirers
  • Partnership or limited liability company – where an individual is a partner or member in an enterprise that shares profits, losses, and capital with others – the individual may be a general partner or member-manager, or a limited partner or member; a single member limited liability company is considered to be a disregarded entity
  • Subchapter S corporation – where an individual is a shareholder investor in a corporation that passes its profits and losses through to its shareholders – the individual also may be a director and/or an officer, and as such earns wages as an employee in addition to receiving dividends
  • Subchapter C corporation – where an individual is a shareholder investor in a corporation that is taxed separately from its shareholders, but may pay tax on the dividends received (thus is subject to double taxation) – the individual may also be an employee, and as such earns wages in addition to receiving dividends

Only individuals and corporations are legal entities, and as such, corporations have separate rights and privileges from their shareholder investors. Individuals are natural persons. However, a juristic person is a group of natural persons behaving as if they are a single group, such as in a partnership, a limited liability company, or an association. A company is a group of individuals that make up an enterprise regardless of business or legal form.

Entrepreneurs may start enterprises in any business form, but lenders and investors may require a specific form, and may place personal guarantees in individuals for contingent liabilities. Venture capital and investment firms may place specific requirements on business forms and management structure, such as being a Delaware subchapter C corporation. Thus a founding entrepreneur could become a shareholder investor in an enterprise that they are no longer in control of if an investor group brings in its own management team. Delaware is the preferred choice for incorporation for many investors because of its well established corporate laws.

Although self-employed individuals are treated as business owners through sole proprietorships, single member limited liability companies, and single shareholder corporations, they are unable to leverage their time unless they can delegate to trustworthy employees, or earn residual and/or passive income.

Individuals who are sole proprietors, partners, and members in limited liability companies are subject to self-employment taxes, and shareholder investors who are officers in subchapter S corporations are subject to employment taxes.

Achieving “Plan B”

There are many ways to develop and achieve a Plan B that has multiple income streams, and it is possible that one component may become the new Plan A eventually. Some opportunities result from converting a hobby into an income producing activity, whereas others result from leveraging professional qualifications and experience.

Examples of income producing activities include:

  • Part-time employment
  • Establishing a home-based business on a part-time basis, that has the potential to become full-time
  • Earning fees and commissions from referrals through affiliate marketing relationships
  • Earning royalties and fees through writing and speaking engagements
  • Investing in real estate for rental income and capital gains
  • Investing in securities for interest and dividend income and capital gains

Businesses that require separate physical premises, inventories, and employees should be avoided as a Plan B because of the high overhead of carrying costs, insurance, payroll, risk of theft, and governance. Whereas the notion of owning a restaurant can be a dream to many, all too often such an enterprise becomes nothing but a nightmare.

Home-based businesses can take many forms such as buying and selling products on the internet or providing professional services on a part-time basis. It is important to note that home-based businesses are subject to licensing and zoning laws and regulations, and may be subject to property, sales, and use taxes, in addition to income tax.

Any form of revenue generating activity requires business development and marketing capability to create awareness and build relationships. The degree of selling experience necessary is a function of the type of business. These activities can be routinized through duplicable, predictable, and measurable processes that can be learned over time.

Some investing activities may require active trading to ensure that capital gains can be properly realized in up markets, and to prevent losses in down markets.

The best form of income is both residual and passive, whereby ongoing cash flow results from activity that occurred in the past, and for which little or no management activities are required in the present.

An effective way to achieve a blend of residual and passive income is through a combination of sources from membership systems and investing activities as follows by:

  • Enrolling customers in membership systems where commissions are earned from ongoing sales of consumables, for which the ordering and distribution is handled by third-parties – this activity generates residual gross income
  • Investing the residual income in an investment portfolio that diversifies risk, and generates cash flow from interest and dividends – this activity generates residual gross income; the income is passive if the portfolio does not require active management through trading
  • Note: investing in real estate may generate residual income from rents; however active management may be required for finding tenants, negotiating leases, collecting rents, paying expenses such as utilities, and performing maintenance and repairs; investing in securities may require some trading to hedge from risk, and to take advantage of capital gains.

A shorter-term objective of Plan B is provide a hedge against Plan A as an alternative. A longer-term objective of Plan B is to gain financial independence – the state of having sufficient wealth to cover expenses required by a certain lifestyle. Wealth is achieved by having sufficient assets and income producing activities to generate a gross income that exceeds all professional, physical, and personal expenses required by that lifestyle. Wealth is a source of capital for future investment. It is usually advisable to eliminate debt in the quest to achieve financial independence.

Enterpriship

A key success factor in developing a Plan B is understanding those enterpriship (entrepreneurship, leadership, and management) competencies that are essential to income generation.