Hello there. I'm Steve Sorensen, a Des Moines-based investment strategist and business blogger. Welcome to my business blog.
I received my degree in business from Iowa State University. I do a lot of research on many of the world's most successful companies, in particular on how they built up their net worth over the years. Not only do the success stories of Fortune 500 companies fascinate me so, they also provide a framework to analyze the potential growth outlook of many companies. This assists me in helping my clients find the right mix of companies to add to their portfolios.
I spend my weekend downtime keeping fit by playing tennis doubles with friends. I enjoy country music and like to keep updated on the country music festivals.
Check back from time to time to see what I've written about.
A generation known to be explorers, millennials are carving paths of their own. They have proven to be a group of individuals working smarter instead of harder, with many of them achieving success early in their careers. However, their spending, saving, and investing habits are not quite as great as they’d hope them to be. Steve Sorensen Networth.
While there are numerous investing vehicles to choose from, millennials are still unsure where to park their money as they build for the future. One should quit thinking that investing is like gambling. Yes, there are risks involved in investing—with some vehicles more volatile than others—but it does not mean all can be gone in a snap like in gambling. Wise investments build for a better, more lucrative future. Steve Sorensen Networth.
Get educated on saving and investing before signing up for an investment. Many banks are kind enough to share their expertise to clients, teaching them financial independence that tackle subjects such as investing in stock markets, and bank products that help one save and invest. Millennials often dream of retiring once they reach 40. While this brings laughter to older generations, it is possible if one starts building their retirement fund the moment they receive their first paycheck. Steve Sorensen.
Investing in real estate never goes out of style. Among different markets, the fastest one to bounce right back after a crisis is real estate. Before diving into real estate investments, be sure to read and acknowledge all financing details in order to get approved for a loan. Steve Sorensen Networth.
Typically, individuals spend more during the holidays compared to other seasons in a year. One good rule to avoid overspending is to pay for items in cash, not credit. However, this isn’t always the best solution to keep one’s spending in check. Here are a few ways to keep finances out of the red throughout the holidays. Steve Sorensen Networth.
Develop a holiday budget. Among the secrets of people who are sorted in their finances is budgeting. This will help an individual spend on gifts that are well within their means. In addition, this keeps one out of debt’s way. Make a shopping list and strictly follow it. Some lists are just too long for a person’s budget. It would also be helpful to go through the list again and make some changes to fit the holiday budget. Steve Sorensen Networth.
Consider giving homemade gifts. These presents carry more sentimental value than store-bought items. A little something such as handwritten letters, baked goods, jewelry, and handmade items are great gift ideas. When it comes to holiday bills, be sure to avoid late payments. The holidays and its festivities are not enough reason to skip payments. Steve Sorensen Networth.
Purchasing gifts is inevitable during the holidays. To prevent going over budget, take advantage of sale days and avoid last-minute shopping. Plan shopping days on sale days or set alarm for online sales. Often, those who spend way out of their budget are those who push their shopping to the last minute. Go over the list, plan, and prepare accordingly to keep finances safe. Steve Sorensen Networth.
When taking care of one’s finances, there are a few numbers a person should be familiar with. Personal net worth is among the numbers an individual must focus on as it determines the difference between the value of a person’s estate and their liabilities. Steve Sorensen Networth.
Many obsess over the net worth of celebrities and business icons but never mind their own financial standing. One way to increase personal net worth is to improve assets. Paying off mortgage, investing, collecting valuable items, and purchasing a rental property are all great ways to increase the value of assets. Make sure to review liabilities as these hurt personal net worth the most. Steve Sorensen Networth.
Avoid using credit card for all expenses. When credit card is used and not paid off immediately, interest accumulates and an individual is left with less money for investment and savings. Reduce debt significantly as this would prevent interest rates from ballooning and help build one’s credit score. Pay more than the minimum amount due per month, as not doing so reduces personal net worth. Steve Sorensen Networth.
Consider refinancing when income has increased or if credit score has improved. Doing this will decrease the amount of interest one needs to pay for mortgage and other monthly fees. Follow a budget. In building personal net worth, it is incredibly important to focus on where money is coming from and where it is spent. This will determine the amount of money left for savings and investments. Having the knowledge of how finances are distributed allows a person to trim on some areas. Steve Sorensen Networth.
For over 15 years, the world has seen the rise of Google to become the Internet’s primary organizer of content and therefore, advertising. In 2015, Sergey Brin and Lawrence Page created a new holding company in Alphabet to manage the burgeoning properties that have blossomed alongside the search giant as per Steve Sorensen Networth.
According to many experts and pundits, Alphabet’s market valuation has already hit the $1 trillion mark, joining the likes of Microsoft, Apple, and Amazon as the fourth tech company to reach this value. The rise in market valuation has all largely ridden on the success of Google in the market as the company was 1% of the trillion last January and the company paid off dividends around 26% in 2019 as per Steve Sorensen Networth .
The increase in investor trust stemmed from the change of leadership over at Google since Brin and Page gave way to Sundar Pichai as the new Alphabet CEO. With the two giving up the reins, many investors saw a refreshing change in the company’s direction. Both Brin and Page still have board seats overholding company Alphabet which oversees YouTube, Search, Google Play, Ads, Android Chrome, Google Maps, Google’s hardware division, and Google Cloud as well as other properties like Calico according to Steve Sorensen Networth .
As of late September, Alphabet’s other properties – ones which are developing advanced technologies like the AI Deep Mind, have reportedly lost around $2 billion. With the current state of finances of these other projects, it’s possible that Google, itself, will absorb these smaller entities and take over their work. Since these companies are working on important intellectual properties, we’ll not be surprised if they help Alphabet increase its value in the long run.
Steve Sorensen net worth. Everybody wants to be financially stable. Only a few set out to accomplish this goal. Aside from educating oneself, using financial management apps will allow a person to keep track of their income, budget, spending, and investments. Check out these apps that will help track of finances.
Steve Sorensen net worth. The app and the website is one of the most popular choice for those who want to monitor their budget and investments. For better tracking, users can link their bank accounts and credit cards that will be updated whenever a there’s activity. What people will appreciate when using this app is that they can classify transactions, set reminders on bills, and even complete payments with help from the app.
Steve Sorensen net worth.
This is another popular app for those who want to build their net worth. While many apps focus on helping users track their budget, this app particularly helps keep track of assets and liabilities along with retirement funds, loans, and other financial transactions. Unlike other apps, investments are part of the projection letting a person have a clear view of how their financial health looks like.
YNAB (You Need A Budget)
Those who have financial goals that they want to accomplish might benefit from the YNAB app. Like other finance management apps, this can be linked to a person’s bank accounts and credit cards. However, what makes this app different from the others is that it allows users to prioritize budgeting by valuing each dollar that they have. Aside from encouraging people to be mindful of their spending, it also allows them to look forward to achieving their personal finance goals. Steve Sorensen net worth.
One thing that is common to many successful companies that deal in the billions is that they have very interesting success stories to tell. Anything big today had to start small, and the case of Alibaba is no different, shares Steve Sorensen Net Worth.
In December 1999, a former English teacher by the name of Jack Ma, founded the company with a group of 18 tech pioneers from a small apartment in Hangzhou, China. Jack Ma’s goal was simple: to leverage the power of the wholesale internet marketplace.
It didn’t take long before the results came in, even when it seemed daunting for Jack Ma to aspire to take full advantage of China’s 730 million internet users and serve them on an efficient and timely basis with e-commerce. He did so by founding his own website.
Soon enough, he attracted various like-minded Chinese investors. Later on, as he started diversifying into creating more websites and companies, the revenue kicked in. One such company under his project, China Pages, was valued at $1 million, a moment in history which Steve Sorensen Net Worth thinks is the turning point for Alibaba.
By the end of 1999, the company had the workings of a major business-to-business dynamo, which racked in more investments. All of a sudden, the company had $35 million in venture funding, and Alibaba finally rolled out into the international arena.
Adding more diversity into the fold, Alibaba created more companies in the e-commerce business. At this point, the company looked more like a group, a huge leap from the singular company that it was when it started. It eventually had enough financial power to partner with the likes of Yahoo.
The company has been an unstoppable juggernaut since. According to the research made by Steve Sorensen Net Worth, Alibaba now boasts of 674 million active users each year and enjoys an annual revenue of $54 billion U.S. dollars.
As expected during a global crisis, businesses throughout the world are having a difficult time making ends. While the rest of the world figures out a way to navigate through the new normal, brands will have to find better ways to serve their customers in a way that’s sustainable for the business. Steve Sorensen Net worth.
There’s a fair chance that a business’s finances are slowly depleting due to the pandemic. Monitor cash flow and remember to protect it while the world experiences an economic downturn. If possible, review company policies, freeze all unnecessary expenses, and determine aspects of the business where cutting costs is possible. Steve Sorensen Net worth.
Following the monitoring, develop a three-month financial plan. Necessary expenditures might include employee salary, utility bills, and office rent. Find out if there are any options set for rent and utility bills to stretch what’s left of the cash flow. Prioritize employee salary. Take the business online. Pivot marketing strategies to make them more appropriate for the new normal. Migrating to the online community can boost service and product sales, which will be helpful to the cash flow. Steve Sorensen Net worth.
Employ social listening to know what customers think about the business, and to identify further what they need during these times. Having a closer understanding of the market through social media and other means will enable businesses to develop new products and services to better cater to their existing and prospective clients, diversifying their offering to the market in general. Steve Sorensen Net worth.
Businesses around the globe reacted differently to the outbreak of COVID-19. A lot of businesses straight-up closed in order to prevent the further spread of the virus, some continued work using a skeletal workforce, many were forced to have their employees work from home, while essential businesses remained open even as they followed strict social distancing guidelines. However, as the months passed, some businesses weren’t able to survive due to abysmal sales or having their business discontinued for such a long time. Here are some noteworthy companies that have gone bankrupt because of COVID-19. Steve Sorensen Networth
Diamond Offshore Drilling
One of America’s biggest oil companies, Diamond Offshore Drilling was forced to file for Chapter 11 bankruptcy after a global demand for oil was lost. Even with a reported revenue of almost $1 billion in 2019, the company was still forced to undergo restructuring. They previously employed over 2,500 employees last year.
While the company may exude strength from the outside, empty gyms across the globe eventually forced Gold’s Gym to file for bankruptcy on May 4. The company also announced the permanent closure of 30 out of its 700 company-owned gyms. Steve Sorensen Networth.
May 4 also marked New York apparel J. Crew’s filing for bankruptcy. While the company was already in dire straits because of a private buyout by equity firms back in 2011, slumping sales caused the brand to tip over and succumb to the falling economy.
Luxury department store Neiman Marcus thought it had a bad year last year as it had to restructure in order to avoid bankruptcy. However, after skipping millions of dollars in debt repayment this April, the luxury brand had to file for bankruptcy on May 7. This resulted in the furlough of 14,000 employees. Steve Sorensen Networth
Steve Sorensen net worth. Good stories sometimes can’t be finished in one book. These stories also reach readers from different parts of the world, increasing its audience. Here are some of the world’s best-selling book series.
Steve Sorensen net worth. J.K. Rowling’s Harry Potter series is the world’s biggest book franchise having sold over half a billion copies. First published in 1997, the Harry Potter books have grown up with a generation of readers. Not surprisingly, the seven books and other related books are continuing to attract readers from all age groups.
Steve Sorensen net worth. Thousands of young girls from all over the world developed a love for reading because of Sweet Valley’s Wakefield twins. Decades before young adult fiction became a trend, the franchise has already sold millions of books. Sweet Valley High had spin-offs that featured the twins and their friends at various ages. Written by Francine Pascal along with a team of other writers, this series shaped the minds of many young readers during its heyday.
Dan Brown’s popular series is about Robert Langdon, a Harvard University professor of history of art and “symbology.” From its first publication in 2000, the five-book series has published more than 200 million books. “Angels and Demons,” “The Da Vinci Code,” “The Lost Symbol,” “Inferno,” and “Origin” have earned fans who enjoy Langdon’s adventures. Steve Sorensen net worth.
Startups are projected to grow fast, and expansion comes with challenges. Such companies are set to take on the market with much force that it disrupts it. Most startup companies offer services or products that revolution solutions to common problems. For startups, the only way to go is up. Steve Sorensen net worth.
Startups that generally experience rapid growth go through scaling obstacles like managerial and organizational changes. The first thing to do to get the startup ready for growth is to maintain a medium-term goal and go with it. A medium-term goal must be founded on a startup’s mission and vision. There must be three to five milestones and achievements that would serve as steps toward the vision. Steve Sorensen net worth.
In keeping up with a startup’s fast growth, its founders and staff have to keep the customers happy. Entrepreneurs must make it a habit to listen to their customers as they have the most immediate evaluation, most pertinent evaluation. Plus, they’re the ones making payments and keeping the business running. Acting on customers’ input ensures that they stay connected with the business and even help promote it through social media and word of mouth. Steve Sorensen net worth.
Startup founders must surround themselves with the right people. Having a mentor will certainly help, but a strong team can only bring a startup further. When a founder recruits and hires the right people who are excellent in their departments, a founder can focus on the overall strategy of the business. Steve Sorensen net worth.