Online Business Success: Lessons You Can Learn From the Atlantic Salmon?

I’ve always been fascinated by the Atlantic salmon’s inherent ability to swim upstream, and as I thought about the complexities involved in achieving online business success, I realized that there are lessons to be learned from the Atlantic Salmon.

What are some of these lessons you can take away and apply to yourself in your online business?

1. Fact: The Atlantic salmon spawns in fresh water but spends much of its life in the salty waters of the ocean.

Lesson: As business owners we have to be adaptable. You may start small and wade in shallow waters, but as you experience personal growth and growth in your business you may have to make decisions that will take you out of your comfort zone and plunge you into unknown waters that are as wide and deep as the ocean.

2. Fact: The salmon’s trip downstream towards the sea is long and arduous, but before going into the open sea it feeds greedily at the mouth of the river.

Lesson: Starting any business has its ups and downs and the road may not be smooth, but by feeding or educating yourself through books, online classes, webinars, having a responsive Mentor, and support system, you will be fortified to move on to bigger projects. Projects that may actually ‘frighten’ you; but with the knowledge and partnerships you’ve acquired in your business you can progress and experience online business success.

3. Fact: The salmon’s time at sea prepares it for the journey back upriver to spawn. The Atlantic salmon negotiates across the ocean to begin the grueling task of swimming upstream against the flow. When it comes to obstacles, like weirs and waterfalls, the salmon jumps over them during the day by aiming for the light above the obstacle.

Lesson: You cannot stop growing, personally or in your business. You have to allow each platform of growth to take you higher as you expand your business. Along the way there will be obstacles, but like the salmon, you have to see beyond them and overcome them so that you can arrive at your ultimate destination. You may not be able to fly over the obstacles like the Atlantic salmon, but you can use them as stepping stones rather than stumbling blocks to meet the goals you’ve set and experience online business success.

These are some of the lessons I’ve learned from the Atlantic salmon. Perhaps you can think of others. The bottom-line is that whether we are entrepreneurs working from home or small business owners with a brick and mortar store, we will be faced with challenges. Learning to swim “upstream” against the tide is what will keep our businesses going rather than folding.

Places to Stay in Atlantic City

If you’re looking for a great vacation spot, why not visit Atlantic City, located off the New Jersey shoreline, on Abescon island? The gorgeous seaside resort has a variety of luxury hotels to fit any lifestyle and budget. These high end hotels provide guests with all the essentials, plus the amenities we all enjoy.

The hotels in Atlantic-City provide guests with flexible pricing to stay competitive. The prices vary depending on the services and features they offer. The room size and the type of bed make a difference in determining the price. Standard, superior and suite rooms all have different rates.

Of course, how long you plan on staying also will affect the price you pay. Other factors include the time of year you visit Atlantic-City. During the winter, hotels on the beach advertise special discount rates. Usually hotel prices are higher during the summer, weekends or peak times.

Business travelers and government employees may be eligible for discount rates. Special groups and associations may also get discounts. There are even hotels that give cheaper rates for senior citizens.

Many of the hotels will also offer special rates if guests book their rooms through designated travel agents.

When you go to Atlantic-City you will find that room rates at luxurious hotels range from $120 to $350. They include the Borgata Hotel Casino & Spa, Hilton Casino Atlantic City Resort, and Skyline Tower Atlantic City.

If you’re more interested in a mid-priced hotel you can stay at any of the following; Sheraton Atlantic City Convention Center Hotel, Clarion Hotel and Convention Center, La Renaissance Suites, Trump Marina Hotel & Casino, and Holiday Inn Boardwalk. They will cost you from $60 to $200.

Those on a budget can stay at the Howard Johnson, Tropicana Casino & Hotel, Rodeway Inn South, and Quality Inn Atlantic City. These room rates are typically $40 to $60.

The room rates mentioned is per room per night. Each hotel reserves the right to alter their pricing without notice for whatever reason.

Is Bankruptcy Good Business? Lessons Learned From Donald Trump

Donald Trump has filed for bankruptcy four times. None of those times were personal. Recently, Trump stated via Twitter and other sources that corporate bankruptcy is a good business strategy. Is this really true? Here’s a closer look at Trump’s Chapter 11 past, and why it worked.

Atlantic City: a Good Lesson in Corporate Bankruptcy Back in its heyday, Atlantic City was the place to be. It was glitz and glam and a money-making machine (kind of like Las Vegas is today). Eventually Atlantic City fell due to time and other factors. In the early 1990s, Donald Trump wanted to reclaim the Atlantic City that once was by building a number of casinos and lavish hotels along the famed boardwalk.

Trump’s first foray into reviving Atlantic City was a disaster. His ‘Trump Taj Mahal’ was financed largely by junk bonds (according Forbes.com), and the failure of the property to bring in revenue caused him to sell his Trump Shuttle Airline and Trump Princess Yacht. Since the investment that didn’t pay off cost him around $900 million in person – not corporate – debt, this was an excellent lesson for Trump.

Declaring corporate bankruptcy for the first time helped him secure his personal fortune while also eliminating the debt from Trump Taj Mahal. After going through that bankruptcy, Trump then went on to declare Chapter 11 three more times. How did he get away with it, and is it a good strategy for every business owner?

Corporate Bankruptcy As Business Strategy Trump was recently quoted as stating, “… basically I’ve used the laws of the country to my advantage and to other people’s advantage.” What he means by that is that Chapter 11 can shelter a company from complete destruction. Under the umbrella of corporate bankruptcy, a company that’s struggling (as all four of Trump’s Atlantic City ventures have) can restructure without the pressure of liquidating assets and making creditors unhappy.

It’s a tactic that Trump has made popular largely because of his big persona and brand name, but it’s not a strategy that he enjoys and owns alone. Numerous companies have gone through corporate bankruptcy for the same reason – because it’s much better than losing money on a sinking ship. Allowing a company to restructure under the Chapter 11 clause will bring in more money than liquidating that company’s assets, and this is what most creditors want to see.

But can this strategy work for companies that are much smaller in size? Does declaring corporate bankruptcy work for a mom and pop shop? Here’s where it gets sticky.

Applying Trump’s Strategy to Your Business First, your business has to be registered as a corporation that is separate from your personal name and life (this should really be the first step to opening any business, long before you consider Chapter 11). Once that’s done, you may be a good candidate for corporate bankruptcy if your business is not doing well and you want to restructure. Since a Chapter 11 filing is completely separate from personal bankruptcy, your personal assets will not usually be impacted by this decision.

However, there are a lot of different factors that come into play when deciding on Chapter 11. What worked for Trump many times might not work for your company without the right guidance. In some cases, Chapter 11 might not mean that a company owner has zero liability. In other cases, there are better alternatives to keeping a company afloat. On the other hand, Chapter 11 could be part of an early business plan, but there are various details included in that strategy that must be worked out with an attorney prior to any kind of filing.

Declaring Bankruptcy Steps What about for individuals? Bankruptcy for individuals can be viewed as a financial strategy. In many ways, bankruptcy is financial planning when you strip down the details – but, it’s important to have a competent bankruptcy lawyer on your side in order to tie up all of those loose ends.

Trump’s larger than life character is hard to ignore, and so are his various corporate bankruptcy filings. Every new business owner should have a bankruptcy attorney on speed-dial whenever they are making big financial decisions so that they thoroughly understand the financial implications to the business and themselves and their families.