Business

All Jobs Are a ‘Means to an End’

Published

2 years ago

September 8, 2022

All jobs are a means to an end, which is why all jobs have one thing in common—they come with a paycheck.

Suppose I’m hungry and want a cheeseburger and onion rings. To achieve my goal, I drive to Harvey’s and order their Angus burger with cheese and bacon and a side order of onion rings.

In this scenario, eating the cheeseburger and onion rings is my “end” goal. I’m doing everything else, getting in my car, driving, etc. to get a cheeseburger and onion rings. These activities are the “means,” the things I must do to achieve my end goal.

A means is a conditional act. I use several means to reach my cheeseburger end goal—driving to Harvey’s, walking up to the counter, etc.

An end goal is something that’s desired for its own sake. Our decisions and behaviors are driven by it. A company without medical benefits wouldn’t be suitable if one of your end goals is to maintain your health.

All the activities (means) associated with a job, from waking up, commuting, and dealing with annoying colleagues, to performing all the tasks required to do your job, lead to one goal (end): Making money.

“Necessities of life” (READ: end goals) have greatly expanded since the mid-70s. Canadians now “need” (READ: feel entitled to) the latest iPhone, eat out three times a week, vacation in Mexico, two cars, a 64″ Smart TV, bottled water, buying Starbucks coffee which can be made at home for 20 cents. We’re not tethered to our employer, which many say, as if work isn’t voluntary, is exploiting them. Instead, we’re tethered to consumerism and always wanting more, thus constantly chasing more money.

How many people in a Starbucks line have little or nothing saved for retirement?

It never ceases to amaze me how much stuff some people accumulate while oscillating between the lower middle class and upper middle class—cars, boats, motorhomes, jet skis, etc.

The bottom line: When you buy stuff, you’re told you need, you’re creating your own exploitation. Employees aren’t exploited by their employers. Employees exploit themselves when they feel they must have what marketing propaganda tells them they “must have.”

We’re exploiting ourselves for a Starbucks, an iPhone, eating out, traveling, a leased car, an oversize house, a designer “whatever,” you know, spending money trying to look rich.

I’ve never encountered a boss who was unhappy with an employee going into debt. Indebted employees are less likely to leave.

Regarding a job, what are your end goals other than “make money”? Why do you need to make as much money as you’d like to make? Do your whys stem from your ego or financial prudence?

Ego-driven end goals:

Buy a car, sailboat, or cottage.
Every week eat at the best steakhouse in town.
Take your spouse on a trip of a lifetime for her 45^th
Get the latest electronic gadgets.

Ego-driven goals aren’t about meeting your actual needs but about appearing “successful.”

Financially prudent driven end goals:

Save as much money as possible for retirement.
Pay off your mortgage before the age of 55.
Build an emergency fund that’ll cover 6 months of your expenses.
Eliminate any debt you may have. (g., student loan, car, credit cards)

Financially prudent goals lead to building equity and wealth, early retirement and being able to pursue your passions, and less stress during inevitable job losses.

Some of the happiest people I’ve met, and know, see their job as little more than a paycheck. As far as they’re concerned, their job is nothing more than a means to achieve their end goals. They don’t identify themselves with their job, and more importantly, they don’t define success based on their boss’s opinion. They define success as making it to the next paycheck. Defining success doesn’t get much simpler than this.

In contrast, I find that those who are the most stressed, frustrated, and unhappy expect fulfillment from their job. Their boss’s praise and recognition are important to them. They believe their work alone should be rewarded with raises and promotions while ignoring that being likable and successfully navigating office politics is how careers advance.

It may seem noble to remain loyal to your employer. However, I believe being loyal to financially prudent end goals is much more practical, especially when jobs are precarious. During the pandemic, we saw how quickly jobs can disappear.

Ask yourself these 4 questions:

What are my end goals?
Are my end goals ego-driven or financially prudent drive? (It’s healthy to have a few ego-driven end goals.)
Are my end goals causing me undue stress?
Can I achieve my goals with the jobs I’m going after?

Here’s some advice I learned the hard way: The wrong end goals cause you to chase the wrong employers.

______________________________________________________________

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers advice on searching for a j

Business

Roots sees room for expansion in activewear, reports $5.2M Q2 loss and sales drop

Published

1 day ago

September 13, 2024

Anne Joseph

TORONTO – Roots Corp. may have built its brand on all things comfy and cosy, but its CEO says activewear is now “really becoming a core part” of the brand.

The category, which at Roots spans leggings, tracksuits, sports bras and bike shorts, has seen such sustained double-digit growth that Meghan Roach plans to make it a key part of the business’ future.

“It’s an area … you will see us continue to expand upon,” she told analysts on a Friday call.

The Toronto-based retailer’s push into activewear has taken shape over many years and included several turns as the official designer and supplier of Team Canada’s Olympic uniform.

But consumers have had plenty of choice when it comes to workout gear and other apparel suited to their sporting needs. On top of the slew of athletic brands like Nike and Adidas, shoppers have also gravitated toward Lululemon Athletica Inc., Alo and Vuori, ramping up competition in the activewear category.

Roach feels Roots’ toehold in the category stems from the fit, feel and following its merchandise has cultivated.

“Our product really resonates with (shoppers) because you can wear it through multiple different use cases and occasions,” she said.

“We’ve been seeing customers come back again and again for some of these core products in our activewear collection.”

Her remarks came the same day as Roots revealed it lost $5.2 million in its latest quarter compared with a loss of $5.3 million in the same quarter last year.

The company said the second-quarter loss amounted to 13 cents per diluted share for the quarter ended Aug. 3, the same as a year earlier.

In presenting the results, Roach reminded analysts that the first half of the year is usually “seasonally small,” representing just 30 per cent of the company’s annual sales.

Sales for the second quarter totalled $47.7 million, down from $49.4 million in the same quarter last year.

The move lower came as direct-to-consumer sales amounted to $36.4 million, down from $37.1 million a year earlier, as comparable sales edged down 0.2 per cent.

The numbers reflect the fact that Roots continued to grapple with inventory challenges in the company’s Cooper fleece line that first cropped up in its previous quarter.

Roots recently began to use artificial intelligence to assist with daily inventory replenishments and said more tools helping with allocation will go live in the next quarter.

Beyond that time period, the company intends to keep exploring AI and renovate more of its stores.

It will also re-evaluate its design ranks.

Roots announced Friday that chief product officer Karuna Scheinfeld has stepped down.

Rather than fill the role, the company plans to hire senior level design talent with international experience in the outdoor and activewear sectors who will take on tasks previously done by the chief product officer.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:ROOT)

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Business

Talks on today over HandyDART strike affecting vulnerable people in Metro Vancouver

Published

2 days ago

September 12, 2024

Anne Joseph

VANCOUVER – Mediated talks between the union representing HandyDART workers in Metro Vancouver and its employer, Transdev, are set to resume today as a strike that has stopped most services drags into a second week.

No timeline has been set for the length of the negotiations, but Joe McCann, president of the Amalgamated Transit Union Local 1724, says they are willing to stay there as long as it takes, even if talks drag on all night.

About 600 employees of the door-to-door transit service for people unable to navigate the conventional transit system have been on strike since last Tuesday, pausing service for all but essential medical trips.

Hundreds of drivers rallied outside TransLink’s head office earlier this week, calling for the transportation provider to intervene in the dispute with Transdev, which was contracted to oversee HandyDART service.

Transdev said earlier this week that it will provide a reply to the union’s latest proposal on Thursday.

A statement from the company said it “strongly believes” that their employees deserve fair wages, and that a fair contract “must balance the needs of their employees, clients and taxpayers.”

This report by The Canadian Press was first published Sept. 12, 2024.

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Business

Transat AT reports $39.9M Q3 loss compared with $57.3M profit a year earlier

Published

2 days ago

September 12, 2024

Anne Joseph

MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.

The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.

The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.

Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.

On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.

Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:TRZ)

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