Critical Thinking PHL 251
June 30, 2004
The most recent time I have that I was able to apply reasons and problem solving was just recently with the former company in which I worked for. I was recently laid off from my job about a month ago, I had nine years of service with this company and found myself in a situation where none of that matter anymore. Just prior to this happing to me I was under the impression my work ethic was good and that I was of a huge value to the department.
Being that I've always been a person to have more than one thing going on, in this case more things for me to invest, or make money from besides my job alone. I've learned this from my parents over the years that it's always best to have some other business or venture on the side for the just in case emergencies. Well I had a small business where I created a training ski to help young kids learn how to water ski. The project itself was really to pay for my hobby at the time. I worked for the bank and worked my business on the side for a couple of years. Then an opportunity to sale off my idea to a larger company came along for a royalty percentage of the profits. Keeping in mind that a back up investment would be nice I moved forward with the deal and received royalties, every quarter for over five years.
Deciding to sale out of my shares of the royalties to pay out early and separate myself from the business and the company wanting to own the rights, I sold out early. I took a small cut in the remaining price for an early payout but it was worth it. Because only a week later I was informed that my job would no longer be a part of the company. So I lost my job, my wife had just gone back to work and we bought a new car. But because of my move to sale out of my business and always keeping a plan to the side besides my day job has paid off. My family and I haven't even felt the financial...