The man who wants to build a business is concerned about building a structure, therefore he is different from that person that just wants to make money.
The man who just wants to make money is not interested in creating an enduring institution or a strong brand, he is with short term mentality and may even fall prey to his ambition as he cuts corners here and there. He is very transactional in nature and may not have scruples.
On the other hand, the man that wants to build a business has scruples and his particular about his name. He is prudent with resources and plows back profits into the business. He wants to build an enduring legacy that will provide jobs for many and he has an eye on history. He will not cut corners because that impacts on quality. He cares about the feelings of his customers and will not unduly jeopardise relationships. He builds capacity, invest in plants and machinery and when business bleeds, he bleeds. He does not suck money out of the business for vanity projects, and he has an acute sense of deferred gratification. He puts in place policies to to aid the growth of the company beyond him, and he institutes a system of checks and balances even if it constrains him. He trains managers and develops people. He is extremely focused and believes in purpose. The business is his life, not a passing fancy or a side attraction. He builds the business and the business builds him.
Saturday, June 5, 2010
How to be successful.
Success is about selling. Yes, I don’t now anybody that has succeeded without having something to sell, therefore you are not going to be an exception. If you want to really be successful, the you must look for something to sell. In order word, you must SELL if you want to EXCEL.
Your success can not be base on luck, or on inheritance, not even prayer only but you have to look around for what to sell. This is because, all the self made millionaires that I know are good sellers. So, what is that thing you have in your hand to sell if you also want to join the league of the millionaires?
There are so many thing you can sell, it ranges from your own product or services. It can also be your ideas, expertise, knowledge, information, skills, technical know-how, writings, books, magazines, etc.
Whatever you have that others need but they don’t have is a good product to sell and make good fortune from it. Try not to underestimate the power of selling , for you can never amount to anything in life without having something to sell.
To know what you have above others and ultimately what you can sell in you. The first step is in you thinking very deep and search in to yourself, look around you and try find out what the need of the people are, what are their problems, what will make them happy, what can touch a cord in their heart and what do you think can turn their life around that you can give them?
You may need job after all, may be you just need to look inward and check some qualities you have that people need. Can you write? Can you sing? Can you crack good jokes? Do you have passion for decoration of the house? do you love flowers? do you love helping other people to plan their events? Any of these can be a gold mine for you. Develop it , brand it and take it to the market. You can’t be a success by keeping those skills of your to yourself, until you take it to the market where you can get buyer for it and get an handsome reward in return.
Your success can not be base on luck, or on inheritance, not even prayer only but you have to look around for what to sell. This is because, all the self made millionaires that I know are good sellers. So, what is that thing you have in your hand to sell if you also want to join the league of the millionaires?
There are so many thing you can sell, it ranges from your own product or services. It can also be your ideas, expertise, knowledge, information, skills, technical know-how, writings, books, magazines, etc.
Whatever you have that others need but they don’t have is a good product to sell and make good fortune from it. Try not to underestimate the power of selling , for you can never amount to anything in life without having something to sell.
To know what you have above others and ultimately what you can sell in you. The first step is in you thinking very deep and search in to yourself, look around you and try find out what the need of the people are, what are their problems, what will make them happy, what can touch a cord in their heart and what do you think can turn their life around that you can give them?
You may need job after all, may be you just need to look inward and check some qualities you have that people need. Can you write? Can you sing? Can you crack good jokes? Do you have passion for decoration of the house? do you love flowers? do you love helping other people to plan their events? Any of these can be a gold mine for you. Develop it , brand it and take it to the market. You can’t be a success by keeping those skills of your to yourself, until you take it to the market where you can get buyer for it and get an handsome reward in return.
How to succeed on internet.
Internet business is one of the easiest business available today, 'think this is because of the fact that an internet business is the type that can be run right from your home so this can really reduce the operational cost of running your business. However, the fact that an internet company is easy to run does not mean that all the necessary steps to follow when doing all other business should be overlook. So, let me show some of the easy but necessary factors you need to observe when doing business on internet.
The first is that as from that day you purpose in your mind to start doing business on internet, you should see it as a serious business and be ready to invest your time into it in order to create a strong brand that last long. It also go along with the need for you to set a very realistic goal for your internet business, which should be broken into series of to do actions on daily basis and this will be a means of measuring your progress.
It is equally important for you to invest your time into learning in order to really understand how the online business works. This may be in form of investing in the quality materials that teaches about the internet business, or by attending the seminar to learn from the experience from the people that has being in the business, Or by simply join an existing internet business system where you can learn why you are still making money.
Another important point you need to realise is that doing business is all about finding what some group of people are in need of and look for the solution to that problem and package it to make money. Join the group of like minded people, i mean people that are in the same internet business, from there you can get to learn a lot of business strategies free. This is now very easy online as there are a many of this discussion group where a lot of business strategies can be learn.
Having done all this, it very important for you to realise the need to be focus and persistence, then sky will be limit of your online business.
The first is that as from that day you purpose in your mind to start doing business on internet, you should see it as a serious business and be ready to invest your time into it in order to create a strong brand that last long. It also go along with the need for you to set a very realistic goal for your internet business, which should be broken into series of to do actions on daily basis and this will be a means of measuring your progress.
It is equally important for you to invest your time into learning in order to really understand how the online business works. This may be in form of investing in the quality materials that teaches about the internet business, or by attending the seminar to learn from the experience from the people that has being in the business, Or by simply join an existing internet business system where you can learn why you are still making money.
Another important point you need to realise is that doing business is all about finding what some group of people are in need of and look for the solution to that problem and package it to make money. Join the group of like minded people, i mean people that are in the same internet business, from there you can get to learn a lot of business strategies free. This is now very easy online as there are a many of this discussion group where a lot of business strategies can be learn.
Having done all this, it very important for you to realise the need to be focus and persistence, then sky will be limit of your online business.
How to sell anything.
Whether on the internet or offline, one major thing that is common with doing business is "selling." Therefore your skill as an entrepreneur should not just stop at creation, there is need to also get yourself equipped with professional selling skills, hence you aren't going to get any handsome reward for your creativity. This piece is meant to highlight some simple but very important selling strategies you need to know to be able to survive in a highly competitive business environment.
1. There is need for you to get an adequate knowledge of the business, which includes having the overall business climate knowledge both home and abroad. With this, you will be able to converse with clients on the market trends and changes in the business climate, even to the extent of improvement on legislation and the impact of the future government policies on your product or service.
2. As a professional salesperson you must be fully informed about the knowledge of the industry which you dwells. It is very important for you to be familiar with your competitor's products, price and positioning. You should be aware of the of other people's personality within your industry and you also need to be aware of your competitor's main selling points and new products release.
3. You should also be very familiar with the with the company you are representing, you should be a good ambassador of your company by taking into cognizance the policy of the company, be well informed about the latest activities going on within the organization, also knowing the key right people and the departmental contacts.
4. Obviously the thorough knowledge of your product is what can not be overemphasized. It may be very frustrating to your customers of you are not very knowledgeable about your product, this is because you will find it difficult to be able to show some level of confident in talking about it.
5. The basic selling skills are equally important, and you should always try to update yourself. This can be done through a periodic refresher course, also by attending seminars and investing in suitable books on professional salesmanship.
6. Getting on with the right attitude is the ultimate characteristics that will distinguish you in your selling field, it is this that will put you among the 20% sales person that generate the 80% sales in your field.
1. There is need for you to get an adequate knowledge of the business, which includes having the overall business climate knowledge both home and abroad. With this, you will be able to converse with clients on the market trends and changes in the business climate, even to the extent of improvement on legislation and the impact of the future government policies on your product or service.
2. As a professional salesperson you must be fully informed about the knowledge of the industry which you dwells. It is very important for you to be familiar with your competitor's products, price and positioning. You should be aware of the of other people's personality within your industry and you also need to be aware of your competitor's main selling points and new products release.
3. You should also be very familiar with the with the company you are representing, you should be a good ambassador of your company by taking into cognizance the policy of the company, be well informed about the latest activities going on within the organization, also knowing the key right people and the departmental contacts.
4. Obviously the thorough knowledge of your product is what can not be overemphasized. It may be very frustrating to your customers of you are not very knowledgeable about your product, this is because you will find it difficult to be able to show some level of confident in talking about it.
5. The basic selling skills are equally important, and you should always try to update yourself. This can be done through a periodic refresher course, also by attending seminars and investing in suitable books on professional salesmanship.
6. Getting on with the right attitude is the ultimate characteristics that will distinguish you in your selling field, it is this that will put you among the 20% sales person that generate the 80% sales in your field.
5 Different ways to create wealth
1. Using your body. This involves using of your self as the primary instrument for wealth creation. A good picture of this method is that of a daily paid laborer, the laborer uses his body as the primary mechanism for making money. Such a person will have to work hard and very hard actually, but in most cases the input is not commensurate with financial returns.
This is the poorest of all the methods of making money because overtime the body wears down, and as you grow older your productivity declines. As the years advance your body degrades, the energy you mustered at 30 is not what you can muster at 60 hence lesser money comes in.
2. Employing the use of a system. Machinery of production is a scientifically organized system consisting of human, process, machinery and intellectual assets. The better organized and well refined a system is, the efficient and productive it is going to be for wealth creation. On an individual basis, a manager does not execute the work, he organizes and manages systems and therefore his wealth is from the efforts of others. He relies on subordinates and systems.
3. Image method. This can be divided into two different areas which are the brand and the the reputation. It is important to build business brand, brands are preferred economic options. When a customer patronage becomes constant, you have been able to build a brand loyalty which enhances your opportunity to create more wealth as that will lead to a reduction in marketing cost. The other aspect of using image is by building of good reputation for yourself and your business. Simply put, it means keeping your words, if you make a promise of doing something within a stipulated time, make sure that it is done. This invariably translates to into you and your business attributes.
4. Re-investing of capital. After you have been able to manage your business to the level that the accumulated capital disproportionate the input. The accumulated profit can then be re-introduced back in to the business for more wealth creation.
5.Power and connections. This is when a business is so politically connected that it uses the organ of the state to for wealth creation. This seem to be the most dangerous form of money making method. A wrong political bet can wipe you out. Most times, business trading at this level strategically grow massive so that the state can't afford them to fail. Because their failure may generate mass unemployment or collapse of the financial system. If you want to create more wealth through this method, it is advisable you stay out of politics. This is the highest form of wealth creation.
This is the poorest of all the methods of making money because overtime the body wears down, and as you grow older your productivity declines. As the years advance your body degrades, the energy you mustered at 30 is not what you can muster at 60 hence lesser money comes in.
2. Employing the use of a system. Machinery of production is a scientifically organized system consisting of human, process, machinery and intellectual assets. The better organized and well refined a system is, the efficient and productive it is going to be for wealth creation. On an individual basis, a manager does not execute the work, he organizes and manages systems and therefore his wealth is from the efforts of others. He relies on subordinates and systems.
3. Image method. This can be divided into two different areas which are the brand and the the reputation. It is important to build business brand, brands are preferred economic options. When a customer patronage becomes constant, you have been able to build a brand loyalty which enhances your opportunity to create more wealth as that will lead to a reduction in marketing cost. The other aspect of using image is by building of good reputation for yourself and your business. Simply put, it means keeping your words, if you make a promise of doing something within a stipulated time, make sure that it is done. This invariably translates to into you and your business attributes.
4. Re-investing of capital. After you have been able to manage your business to the level that the accumulated capital disproportionate the input. The accumulated profit can then be re-introduced back in to the business for more wealth creation.
5.Power and connections. This is when a business is so politically connected that it uses the organ of the state to for wealth creation. This seem to be the most dangerous form of money making method. A wrong political bet can wipe you out. Most times, business trading at this level strategically grow massive so that the state can't afford them to fail. Because their failure may generate mass unemployment or collapse of the financial system. If you want to create more wealth through this method, it is advisable you stay out of politics. This is the highest form of wealth creation.
Sunday, May 30, 2010
How to run your business without stress.
The issue of strategies to adopt in managing your time in business can not be over emphasize, as the survival of a business is on how well it is being manage. Here I will be pointing out some other tips that if well follow can transform the fortune of your business empire, without given you so much stress.
Keep Proper records.
Keeping of business record is a safety way of making sure that your business did not go under. It gives you the chance of being able to trace how fund are being expended and the general business operations. Endeavour to keep a separate records for each business to avoid a messed up.
Outsource those thing you can not handle alone.
No man is an island of knowledge, there will definitely be some areas which you may find a bit difficult, may be because of the technicalities involved. Know you don’t have to kill yourself, assess yourself and see which area you know you just have to outsource. Don’t forget that your target customers determines every action you must take.
Update yourself.
No end to learning. If you stop learning you are as good as dead. So take pain to update your knowledge on how best to run your business. Network with other actors in your industry and learn from them, never assume. Technology continue to introduce newer ways of doing business almost on daily basis. Therefore if you fail to keep up with the changes going on around you and your business, you may soon find out that you have been left behind by your competitors.
Look for a mentor.
It is safe to have a mentor you can relate with on your business matter especially when you are a newbie. Mentor have proven to be a good shoulder to lean on when you get to crossroads in your business. If you can get separate mentors to guide and counsel you for all area of your business, then better for you.
Create time to rest.
You might have probably been hearing it that “Health is wealth”, therefore take time to rest so that you can be healthier. You can take time to travel for relaxation if you can afford it, so that you get yourself refreshed by the time you are back from the vacation.
Remember that all work but no play make Jack a dull boy, therefore take time to relax and exercise so that you can get yourself refresh for new idea to come in for the improvement of your business.
Keep Proper records.
Keeping of business record is a safety way of making sure that your business did not go under. It gives you the chance of being able to trace how fund are being expended and the general business operations. Endeavour to keep a separate records for each business to avoid a messed up.
Outsource those thing you can not handle alone.
No man is an island of knowledge, there will definitely be some areas which you may find a bit difficult, may be because of the technicalities involved. Know you don’t have to kill yourself, assess yourself and see which area you know you just have to outsource. Don’t forget that your target customers determines every action you must take.
Update yourself.
No end to learning. If you stop learning you are as good as dead. So take pain to update your knowledge on how best to run your business. Network with other actors in your industry and learn from them, never assume. Technology continue to introduce newer ways of doing business almost on daily basis. Therefore if you fail to keep up with the changes going on around you and your business, you may soon find out that you have been left behind by your competitors.
Look for a mentor.
It is safe to have a mentor you can relate with on your business matter especially when you are a newbie. Mentor have proven to be a good shoulder to lean on when you get to crossroads in your business. If you can get separate mentors to guide and counsel you for all area of your business, then better for you.
Create time to rest.
You might have probably been hearing it that “Health is wealth”, therefore take time to rest so that you can be healthier. You can take time to travel for relaxation if you can afford it, so that you get yourself refreshed by the time you are back from the vacation.
Remember that all work but no play make Jack a dull boy, therefore take time to relax and exercise so that you can get yourself refresh for new idea to come in for the improvement of your business.
How to manage your business without stress.
We are living in the world were there are always too many thing to do inspite of our short time. Sometimes, the activity lined up are just too much that we find it difficult to manage. Even the emergence of the internet is not helping the matter in this aspect, as that as also create another challenge, a business owner now need more time to manage his business both offline and online platform. If you however find yourself in a situation like this, the following step will help you to cope with the stress involved in managing your business.
Planning
You should understand quite well that nothing will work outside planning. As you know that business running sometimes may be time consuming, and so you must really take your time to plan your activity into your little time. This also involved you knowing those areas you can delegate and those to personally handle by yourself.
Knowing this that if you fail to plan your timing you may soon realize that one aspect of your business will start suffering at the expense of other, meaning that you are not implementing your plan or not planning well enough.
Have a target.
There is need to have a target of what to want to achieve from all aspect of your business. Target enables you to assess your performance on a regular basis, and be able to score yourself. Your target can be break down to weekly, monthly, quarterly or annually. If you target nothing, you are going to achieve just that nothing.
Avoid distraction as much as possible.
You may easily get carried away by the success record of your business if care is not taking, and before you know the distraction set in your way. So, take thing easy as they come. Celebrate your success and still try as much as possible to maintain your focus, and always remember that you have a target to meet up.
Planning
You should understand quite well that nothing will work outside planning. As you know that business running sometimes may be time consuming, and so you must really take your time to plan your activity into your little time. This also involved you knowing those areas you can delegate and those to personally handle by yourself.
Knowing this that if you fail to plan your timing you may soon realize that one aspect of your business will start suffering at the expense of other, meaning that you are not implementing your plan or not planning well enough.
Have a target.
There is need to have a target of what to want to achieve from all aspect of your business. Target enables you to assess your performance on a regular basis, and be able to score yourself. Your target can be break down to weekly, monthly, quarterly or annually. If you target nothing, you are going to achieve just that nothing.
Avoid distraction as much as possible.
You may easily get carried away by the success record of your business if care is not taking, and before you know the distraction set in your way. So, take thing easy as they come. Celebrate your success and still try as much as possible to maintain your focus, and always remember that you have a target to meet up.
Wednesday, May 19, 2010
Five easy step to staying motivated in business.
Motivating yourself to excel at your job or to be an example to your employees, should not be something you do only when the spirit moves you. It’s an ongoing process that should include every facet of your business life. This means your mental attitude, physical well-being and appearance, work atmosphere, your interaction with others (clients and employees alike), and your off-the-job environment.
Motivational experts get paid big bucks to tell professionals, striving for success, that they must constantly examine these factors. How do you do that? Follow the 5 tips that follow, and watch the changes.
1. Maintain a Positive Attitude – Let’s realize that life is only 10% of what happens to us and 90% how we react to it. We’re responsible for our own actions and attitudes, and changing them when appropriate. When you’re around people/things that are uplifting and positive, you feel that way. You have more confidence in yourself, and know you can change whatever needs changing. If you can make your workplace such a place you’ll find happier workers and higher production. You might even find your employees look forward to coming to work!
2. Leave Personal Troubles Home - Everyone has problems, but they don’t belong at work. Turn your attention and energy entirely to your on-the-job tasks. This will actually be good for you because you’ll get a mental break from your troubles.
3. Create Positive Affirmations - The reason for writing goals for your business is the same as creating positive affirmations on paper. What your eyes see and ears hear, your mind will believe. Try it! After you’ve written them down, read them aloud to yourself – and do it every morning when you get into work. You’ll be amazed at what happens. Come up with a set of new ones every month. Statements such as, “I’m an important and valuable person,” or “I know I’ll make good use of my time today.” Repeating them out loud everyday at a set time will help reinforce positive actions.
4. Make Sure Break Times Are Really Break Times - This is an area where most bosses/entrepreneurs fall down. You become so intense about the project or situation you’re working on that you don’t ease up. Thinking that it’ll be solved in the next few seconds, and then you’ll get a cup of coffee can lead you right up to quitting time. Regularly adhering to a specified break schedule, even if you’re the boss, releases the tension. If you work on a computer this is even a greater problem because before you realize it – you’ve been working in that same position for hours. The best answer to this is to set yourself a reminder on your appointment calendar for every 2 hours, and let the computer reminder chime send you the alert to move around.
5. Exercise, Exercise, Exercise - I know that lately it seems that “exercise” is the cure-all to every physical ailment or your love life, but despite that there is some truth to that ugly word. By “exercise” I don’t mean that you should go out and join a gym and spend your lunch-time, 3-days-a-week there working out. What is really beneficial and workable is that at those chiming alerts from your computer, get up and walk around your desk or room. Maybe go outside and get the mail and enjoy the sunlight (if you’re an entrepreneur that has a home office), or just get up and do a few stretches. Concentrated, tense thinking – typing - plotting plans - or whatever your work, makes all those muscles tighten up and knot up. Then when we move we “ooh” and “ouch” because we’ve knotted up into a ball of tension. Periodic stretching, even at our desk, or just getting up and walking over to the window and getting a different view can help. One of the greatest disservice modern business décor has done to us, is making our offices pristine, sleek, unencumbered spaces. There is nothing more relaxing than getting up from your desk and walking over to a peaceful, serene, seascape or pastoral painting and just drinking it in visually. Momentarily transporting your mind out of work and into that place does wonders. A few good paintings and less shiny chrome in offices would benefit us all.
It only takes a little concentrated effort on our part to keep motivated and productive, which leads to success. I know you’re going to hate hearing this, but it’s true anyway – and that is, “WHEN LIFE GIVES YOUR LEMONS – MAKE LEMONADE!”
Motivational experts get paid big bucks to tell professionals, striving for success, that they must constantly examine these factors. How do you do that? Follow the 5 tips that follow, and watch the changes.
1. Maintain a Positive Attitude – Let’s realize that life is only 10% of what happens to us and 90% how we react to it. We’re responsible for our own actions and attitudes, and changing them when appropriate. When you’re around people/things that are uplifting and positive, you feel that way. You have more confidence in yourself, and know you can change whatever needs changing. If you can make your workplace such a place you’ll find happier workers and higher production. You might even find your employees look forward to coming to work!
2. Leave Personal Troubles Home - Everyone has problems, but they don’t belong at work. Turn your attention and energy entirely to your on-the-job tasks. This will actually be good for you because you’ll get a mental break from your troubles.
3. Create Positive Affirmations - The reason for writing goals for your business is the same as creating positive affirmations on paper. What your eyes see and ears hear, your mind will believe. Try it! After you’ve written them down, read them aloud to yourself – and do it every morning when you get into work. You’ll be amazed at what happens. Come up with a set of new ones every month. Statements such as, “I’m an important and valuable person,” or “I know I’ll make good use of my time today.” Repeating them out loud everyday at a set time will help reinforce positive actions.
4. Make Sure Break Times Are Really Break Times - This is an area where most bosses/entrepreneurs fall down. You become so intense about the project or situation you’re working on that you don’t ease up. Thinking that it’ll be solved in the next few seconds, and then you’ll get a cup of coffee can lead you right up to quitting time. Regularly adhering to a specified break schedule, even if you’re the boss, releases the tension. If you work on a computer this is even a greater problem because before you realize it – you’ve been working in that same position for hours. The best answer to this is to set yourself a reminder on your appointment calendar for every 2 hours, and let the computer reminder chime send you the alert to move around.
5. Exercise, Exercise, Exercise - I know that lately it seems that “exercise” is the cure-all to every physical ailment or your love life, but despite that there is some truth to that ugly word. By “exercise” I don’t mean that you should go out and join a gym and spend your lunch-time, 3-days-a-week there working out. What is really beneficial and workable is that at those chiming alerts from your computer, get up and walk around your desk or room. Maybe go outside and get the mail and enjoy the sunlight (if you’re an entrepreneur that has a home office), or just get up and do a few stretches. Concentrated, tense thinking – typing - plotting plans - or whatever your work, makes all those muscles tighten up and knot up. Then when we move we “ooh” and “ouch” because we’ve knotted up into a ball of tension. Periodic stretching, even at our desk, or just getting up and walking over to the window and getting a different view can help. One of the greatest disservice modern business décor has done to us, is making our offices pristine, sleek, unencumbered spaces. There is nothing more relaxing than getting up from your desk and walking over to a peaceful, serene, seascape or pastoral painting and just drinking it in visually. Momentarily transporting your mind out of work and into that place does wonders. A few good paintings and less shiny chrome in offices would benefit us all.
It only takes a little concentrated effort on our part to keep motivated and productive, which leads to success. I know you’re going to hate hearing this, but it’s true anyway – and that is, “WHEN LIFE GIVES YOUR LEMONS – MAKE LEMONADE!”
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