Business Basics September 25, 2008
Posted by mona in : Uncategorized , trackback“If money is your hope for independence, you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.”
- Henry Ford
Everyone wants to be rich. I have yet to meet one person who doesn’t dream of being debt-free and enjoying life with all the perks. To achieve this so-called financial freedom, many choose to climb up the corporate ladder, while others like me opt to take the proverbial road less travelled by going into business.
Way before business mentoring became the way it is now, I guess we were fortunate to have been surrounded by people who have showered us with lots of advice, both solicited and unsolicited.
Here’s a quick rundown of the “basics” that we learned over the years. They’re cliches that may sound so simple but they’re the ones that really work.
1. When in doubt, don’t.
In business, you’ve got to learn to trust your instincts. If you ever come across a big deal from someone you won’t even trust your dog’s life with, better think twice. If they always flash the money in front of your eyes to lure you into agreeing…if it sounds fishy…If something just doesn’t
“feel right”…If something sounds too good to be true…chances are it isn’t.
2. If everyone else is looking this way, try looking the other way.
Try to avoid getting into a business that everyone else is getting into. Some people may try to convince you to join in the bandwagon by bombarding you with testimonials about how A made tons of money or how B raked in a fortune. If there are just too many people on the boat, chances are it’s gonna sink sooner or later.
3. Never burn bridges.
No matter how difficult the situation, try not to part ways with a client, a business partner, an employee in bad terms. Believe me, the world is getting smaller by the minute.
4. Where there is crisis, there is opportunity.
Business people are a “gifted” lot. When everybody else is giving up and letting the crisis eat them up alive, the true businessman sees the wealth of opportunity all around him.
5. Start small but dream big.
I’ve seen a lot of people start their businesses with a BANG! They have this mentality that if they have the grandest of grand openings, the customers will come lining up at their doorstep - continuously. Well, some were lucky. Most were not. Once the novelty of the business fades, so will all else. You don’t have to pour it all out in one go. Add according to demand. Believe me, consumers like it better to see you upgrading rather than downgrading your services because you have to keep up with the times.
Business is a test of patience. It’s like a mind game. You have to have the foresight to see beyond what others see, to plan the next move and stay ahead.
Comments»
Hey whats the difference between a virtual office and real office? Does that mean I own the virtual office too? Is there space allocated?
nice blog. i believe i’ll be number 5 in the future! ^_^
thanks, snow!
Love the message…we all have to hang tight, but we can make it through this…And there are always ways to package your product/service that will make it more viable in a tough market…
hi, jeanannvk!
thanks for dropping by my site.
yup, i guess we all have to find ways to survive the crisis.