Archive for the ‘Economy’ Category
Tuesday, May 4th, 2010
I was just talking to a long time client today about various “happenings” in her business. The company is growing and adding many new services. Certainly an exciting time for any business owner. It has been the result of a lot of hard word and dedication. Unfortunately, this growth has also resulted in internal problems.
One of those problems, and certainly not a small one, is the owner lost control of her company. As a result of losing control the owner was becoming overly stressed and is losing business. Fortunately, the owner realized what was happening and is beginning to make the necessary changes to regain control and get the business back on track.
The specifics of how control was lost or why is not as important as how this happened. Basically, it occurred because the owner lost focus of the plan to grow the business. Management of the company was put into the hands of others, who had less passion for, and experience in the industry. While the owner was off doing what they thought was best, the management team had other ideas of how the company should operate and grow.
As a business owner, you need to constantly stay focused on the plan you put in place to achieve your dream, and not delegate it to others to work that plan. You need to work it, and if others are hired to help you, manage them closely and keep them accountable to you. Otherwise the results you achieve will be that of others.
Posted in 50+, Business Info, Economy, Faces Over 50, General Business, Management, Success Principles, entrepreneurship, family business, finance, marketing | No Comments »
Tuesday, February 9th, 2010
Although we use a GPS now more than we do roadmaps, I was looking at an old map recently and got to thinking about its similarity to a business plan.
Main thouroughfares or interstates are your basic idea.
Intersections or exit ramps are options you must decide to take -sometimes it is even necessary to reverse course a bit when you make a wrong turn or take a wrong exit just don’t back up the “off” ramp.
Corners or curves can be handled unless you’re going to fast or not paying attention; then you can lose it.
Above all, a map shows you were you started and where you are going. This is the same focus for a business plan.
A business plan won’t keep you from making mistakes but, like a map, it helps you to stay more or less on the right road until you get where you want to go; even with a few corrections along the way, Like our old maps, or the new GPS in your dash, it’s always good to have a plan ready and to actually use it.
Posted in 50+, Business Info, Economy, General Business, Management, Self employment, Success Principles, entrepreneurship, family business, finance, marketing, networking | No Comments »
Tuesday, October 6th, 2009
Being proud and being confident sound pretty similar and can be mistaken for each other.
We see someone who is proud of their accomplishment and they show it by raising a fist, flashing a “We’re number one” or otherwise letting you know “they done good”, at least according to them. We see others who face a situation, take a deep breath and “just do it” look at their result and move on.
Are these the same things? I don’t think so. It’s a short journey from proud to arrogant. All too often it seems today we see more of the later than the former. Also, we see a lot of our business leaders today who don’t seem to take pride in what they do as much as they put forth a defiant stance.
Confidence is also sometimes confused with arrogance. People act out of a sense of arrogance and entitlement. Confidence is not putting others down and “slamming” your opposition. It’s acting on your beliefs in a manner that demonstrates to others that you are following your beliefs with a fairness and openmindedness.
We seem to have put these two concepts on the back burner these days. Isn’t it about time we dusted them off and returned them to our business conversation.
Posted in 50+, Business Info, Economy, General Business, Success Principles, entrepreneurship, family business, finance | 1 Comment »
