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The Keys To Be A Successful Business

Business owners are some of the most optimistic, and often the craziest people in the world. No-one starts a business believing that it will fail. We are all absolutely convinced that our idea is a great one, that we will be successful (where others have failed) and that this business will change our lives for the better. If we did not feel that way, we would never take the risk to invest our own money, or borrow from others to start our business. The reality is however, that, according to the SBA, most businesses eventually fail and more that 50% do not survive beyond the first 3 years. Even if you manage to get that far, things can still go horribly wrong, as many seasoned business owners found out during the recession which hit us during 2023 to 2024. So, does this mean that you should not start a business at all? Absolutely not. I believe that your business can be an outstanding success, if you approach it in the right way, avoid repeating previous mistakes and impose discipline o...
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Surviving the Recession

Now it is clear that the economy is slowing dramatically and many observers feel that we are headed into, or may already be in, a recession. The question is no longer if the economy is going to be slow in 2020, but how slow is it going to get. The credit crunch has lost its crisis atmosphere but many sectors of the credit markets remain paralyzed. We know about the impact on housing and related industries. But most people are only beginning to understand how the paralysis is affecting consumers in areas other than real estate. Nowhere is this understanding more apparent than in the performance of the equity markets over the past two weeks where traders who blindly ignored the warning signs for months suddenly see that the party ended some time ago. Declining home values have siphoned off more than $1 trillion of consumer purchasing power at a time when rising food and energy prices are devouring family budgets. Headline inflation, not "core" inflation but the real inflation...
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The Best Practices for Managers and Supervisors

The command and control approach to managing personnel is the antiquated way managers used to conduct business back in the 20th Century. The rationale for the old top-down approach of management was a hold-over from the 19th Century where jobs were hard to find and talent was in short supply. Fast-forward to 2012, the job market has changed and even though it remains tight after "The Great Recession", wise managers understand that there is a pool of talent waiting in the wings and the economy will not remain in decline forever. An employer's market does not mean that managers and supervisors can treat employees like luggage at an international airport, but instead this provides an opportunity to cultivate the best talent available. Today's modern worker is more aware of the realities associated with the job market when it comes to developing and retaining skill-sets and understanding that the geographic constraints no longer holds talent hostage. Managers and superv...
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