Here's what you saw on Good Day Alabama:
JEH JEH LIVE - Jeh Jeh took us to Red Mountain Park to check out the latest team of workers - the goats. They're eating their way through the area to clear off the land. This means the park areas will be available and open to the public soon. It also means that the goats are uncovering artifacts and old equipment on the property. Watching the goats at work is just one of many fun activities at Red Mountain Park. Check out www.redmountainpark.org.
BETH K - UAB Nutritionist Dr. Beth Kitchin showed us some of the top overrated health foods! She is not saying don't eat these – just that they are overrated and that you may not been getting the big health bonuses you think you are!
1. Coconut Oil: talk about hype. One website Beth found lists these benefits of coconut oil: fat burner, immunity booster, stress relief, kidney disease prevention, HIV and cancer prevention, treating Alzheimer's, stronger bones – and that's the short list. Now, there may be some small benefits from coconut because it contains a lot of medium chained fatty acids. But the research is far from conclusive and the benefits are likely small. For now, stick with olive oil since the research is much more definitive.
2. Almond Milk: don't stop drinking your almond milk if you really like it – just don't expect any great health benefits from it. It's basically just watered down almonds with a bunch of nutrients added to it. In fact, most of the nutrients you see on the label have been added. There isn't much of the actual almond in it. However, it can be very low in calories and has a lot of calcium added. So for her patients who like it, Beth says, keep drinking it. But it's very low in protein, so if you like cows' milk or soy milk just as much, they are healthier choices.
3. Smoothies: They're expensive and while they are more nutritious than a milkshake, they still contain a lot of sugar. Some smoothies contain almost 1000 calories and over 30 teaspoons of sugar! If you're trying to gain weight, and some people are, then fine. Many of Smoothie King's "wellness blends" had more sugar that a coke and not much in the way of nutrition. Make your own at home for better nutrition! If you like them and drink them a lot, do your homework on their websites to find the sugar and calorie content.
4. Energy Drinks: Save your money and drink a cup of coffee if you need the caffeine. These expensive drinks are just caffeine - often in different forms, some are loaded with sugar and also with ingredients that promise to do things they don't.
Beth's bottom line - eat REAL FOOD!
MONEY TUESDAY - Stewart Welch joined us to explain the keys to success of being your own boss! More and more people are considering pursuit of the dream of owning their own business so they can control their own financial destiny. It also happens to be the number one path to wealth creation. Unfortunately, the majority of new businesses fail within the first four years. Years ago he interviewed self-made millionaire entrepreneurs who would share their secrets of success. That's where he learned the key to success for any business is three things. The first key is, "Stay close to your numbers." Your business strategy should include a 'plan' to be profitable your first year. Two key points here:
• Before you start your business, you'll need to develop a detailed month-by-month cash flow projection for the first 12 to 24 months of operation along with a less detailed projection of cash flow for an additional two to three years.
• Most new businesses require start-up capital to cover rent, equipment, salaries, etc. until such time as the business revenue can cover ongoing business expenses. One of the biggest mistakes entrepreneurs make is underestimating these costs. Often the entrepreneur is seeking capital from either a bank or friends and relatives and they typically ask for what they estimate will be needed, which more often than not, turns out to be inadequate. Going back for additional funding typically proves to be a much more daunting task because the entrepreneur has now lost credibility from a business management perspective. To your initial estimate, you should add 50% to 100% because my experience is that you will have underestimated your capital needs by that much money.
This second rule for success is, "Stay close to your customers". As a start-up entrepreneur, you may not have any customers yet but you do need a detailed written plan of who is your 'ideal' customer. Further, you'll need to develop a plan for how to serve these customers better than anyone else along with a plan for reaching new customers - your marketing plan.
The final key to success is, "Stay close to your employees". In the beginning, you may serve as the president, secretary, treasurer and janitor but soon you will need to develop your team. Start by developing an organizational chart based on a successful business five to ten years into the future. What 'positions' would need to be filled between now and then? Look for people whose strengths counter-balance your weaknesses. Start your team by engaging 'experts for hire' including an accountant and business attorney and perhaps a financial planner. Another excellent source of business talent that you can access for free is through SCORE. SCORE is a nonprofit association dedicated to helping small business owners succeed. Both working and retired executives and business owners donate time and expertise as business counselors. For more information about SCORE, go to www.score.org. The ultimate key to success will be your passion for your chosen business. When you find yourself at a low point, it will be your passion for your business and your passion to succeed that will sustain you. For more information, visit www.welchgroup.com.
ASK THE ANGLER - Reed Montgomery answers viewer questions about fishing. You can contact him with your questions at 205-663-1504 or on his website www.fishingalabama.com - there you can find lake reports, fishing tips, upcoming events, and more.