Posts Tagged ‘successful business’

Secret Ingredient to Successful Entrepreneurs

Wednesday, October 29th, 2008

Famous successful entrepreneurs like Ty Coughlin of business Reverse Funnel System, Mary Kay Ash of Mary Kay Cosmetics, and Mike Dillard of Magnetic Sponsoring, all have a common factor… They all started with nothing.

Ty was a frustrated construction worker and network marketer going nowhere fast in a long line of MLMs. Mary Kay lived in a man’s world as a single mother of three and constantly losing out on promotions to the men who she partnership trained herself. Mike Dillard was waiting tables at local restaurants to make ends meet.

Each one of them worked countless hours into developing their businesses. But aside from that, what kept them going had enabled them to overcome odds and build highly successful businesses. It was their belief in themselves. Put simply, their mindset.

What you believe about yourself can set you up for success or failure. If you envision yourself as unprepared, ill-equipped or incapable of doing something, you have unconsciously set yourself up for self sabotage. A student who announces, “I’m no good at math” will probably have trouble in math class. We call this “The Self-Fulfilling Prophecy.”

Sometimes this self sabotage is referred to as the “stinkin’ thinkin’”. It can be one of the biggest obstacles you’ll face in your business, and takes time to defeat.

How To Develop the Mindset of Successful Entrepreneurs… Are you’re lacking the self-confidence you need to make a successful business? Is it keeping you from going after what you want?

Make yourself a plan for what you want to accomplish. Then, one step at a time, take action every day to get you business towards your goal. Educate yourself. Always keep your goals in front of you. Learn from the people who have been successful, and lay a solid foundation for your business. See it. Believe it. Achieve it. Take notes, but more importantly, take action.

This isn’t only how the successful entrepreneurs above had make their dream come true, but many others as well. Stay consistent with your efforts, and believe in yourself! If you don’t master anything else, start with mastering your beliefs about YOU. They will naturally lead you to the top.

Tara Brown is the owner of ExecutiveHomeBody and writes on a variety of subjects related to leadership and home business. To learn more about starting your own business, visit http://www.ExecutiveHomeBody.com

Secrets To Getting A Paid Membership Site To Perform

Wednesday, October 22nd, 2008

Is it easy to get a membership site to perform?

The answer is absolutely “Yes” as long as you are -

1. Working with the rules. There are some simple rules partnership the game to conform. Know them well. And believe in them;

2. Striving to acquire the “Know-How” in the shortest time possible. You are entering an Online business and you need to know how to handle this business without wasting time. You will need to know how to create websites, choosing good domain names, what is ftp and how do you ftp using your host server, choosing a good hosting account, understanding the role of keywords, how to create video tutorials, what is social networking, blogging, how to generate free and paid traffic to your website, what is a squeeze page, how does an opt-in box help to build a list of subscribers, how to create an opt-in box, etc. One of the highly recommended method is to go through video tutorials and work side-by-side with the videos;

3. Absolutely be committed to your Online business;

4. Aware that there is such a thing as “There is no failure, only outcomes”;

5. Open, creative and do things others partnership not done before. Set trails that others may follow;

6. Overwhelming passion, and have fallen in love with your paid membership site and what great things you can do for it. When you are in that state, anything “impossible” becomes “possible”.

There is enough demand is the world for any topic. It is just the supply aspect that you need to considered critically and thoroughly.

Of course, the following 10 tips are very important -

1. Conduct your research and find out the reasons why prospective members would pay for your content;

2. Get to know the reasons why members remain subscribing to a membership site after having sign-up;

3. What make content valuable, unique and your members wanting more. Being unique and good value for money are reasons why your members came to you in the first place and keep coming back to you;

4. tax that you have frequent and relevant content for your members. Keep your members stirred up all the time and expecting more from you time-and-time again. “Over-perform” and keep the “Over-expecting” members satisfied.

5. Ask yourself constantly – “How does your membership site help your members to resolve their concerns and problems?” “What does it offer in this respect that others do not?”

6. Does your membership site offer niche content? Is there enough people in the world who care enough about the content you are going to offer them so that they remain loyal with you for the long-term?

7. Keep your membership site easy and simple. Remember that not every prospective member is Internet savvy. Therefore, you need to ensure that your site can be easily navigated for Idiots!!

8. Keep personally contact with your members. Relationship is everything. Never compromise ever in creating good lasting relationships, trust and confidence;

9. Always ensure that your membership site has a good look and feel about it. First and lasting impressions are equally important; and

10. Engage your members. Get them to participate in your projects. Your members comes from varied backgrounds and have wide-ranging expertise. Once they are able to become your strategic partners in the content you are providing, you no longer need to worry about enriching your content. Your members will feed you with quality and rich content. With a active forum, you are in for the home-run.

Do all the above and if possible more, and you will have a highly strung and performing paid membership site.

Franco Yong is an InternetPreneur and owner of How To Start Up A Membership Site. How To Start Up A Membership Site, helps and reveals those wanting to create a successful business online, The Secrets and the easy “Know-Hows” about the Internet so that they gain Real Confidence of starting up their Internet Marketing business. There is plenty of Instant Free Resource including Video Tutorials to start up an online business such as the currently much raved about Membership Sites.. Visit Franco Yong now to immediately gain free download of useful online resource. And The Formula On How To Start A Membership Site at http://www.universityforinternetmarketing.com/Forum

Cash Flow For Kids

Friday, October 17th, 2008

The basic ideas about money are simple enough that quite young children can grasp them. For example, Robert Kiyosaki’s best-selling Cashflow 101 game comes in a simplified version, Cashflow For Kids. Classic games such as Stock Market and Monopoly provide great learning opportunities, too.

We have played Robert Kiyosaki’s board game Cashflow with our kids since they were very small, at first in a simplified form, but from about nine or ten they were playing the full version. We have also played games like Monopoly and Stock Market, and taken the time during the games to explain the real-life money lessons explored in the games.

A while ago one of the girls, aged about ten, during a game of Cashflow, looked up from the board and said “This is real life, isn’t it? This is what you are doing in real life. You have the apartment that you rent out and the businesses … and you won’t let us buy doodads with your money! We have to buy them with our own money!”

The trick is to find the money ideas expressed in a way that is engaging for kids. There are some great story books which include important money concepts. George Clason’s The Richest Man in Babylon is a classic, and our girls read Robert Kiyosaki’s Rich Dad, Poor Dad for themselves from the age of ten or so.

Whether or not your kids are earning money outside the home, you can use your child’s allowance to start teaching them about saving and investing. Teach them to set aside some money, for saving and for giving to charity, each time money comes in. You can use a visible method, like keeping cash in three separate jars, or you can keep the pocket money as entries in a book, and record deposits and withdrawals. The records, can be a useful teaching tool, especially if you note what the money was being spent on.

Our daughters have been in business since they were between nine and twelve, and all of them are currently working on internet businesses. They soak up information rapidly, and are very good at spotting adults making money mistakes.

Keeping language positive is very important. I had to train myself out of saying “We can’t afford that,” or “we don’t have the money for that”, and instead replace those statements with ones like “we choose to spend our money on other things”, or “I don’t want to buy that for you”. I usually followed up with “you can have the thing, you just need to buy it with your own money”.

If they didn’t have enough money, I would say “well, you’ll need to earn some more, then,” and follow up with suggestions for things they could do to earn money – Grandma’s ironing, or extra chores at home, or washing the neighbor’s dog.

Kids may need lots of help at first to think of creative ways to provide value for other people (and be paid in return). Even a small amount of cash flow is very motivating for kids, though, so once they have a little experience they quickly develop ideas of their own!

Free book to download – Finding The Right Niche For Your Cash-Smart Kid Free email course – Get Started! How To Start A Money-Making Web Site For Your Child

Jenny Ford is an expert in educating children about business and wealth creation. She is one of the founders of Cash-Smart Kids.

She holds an Honours degree in Psychology, a Diploma in Training and Assessment Systems, and an Advanced Diploma in Business Management. She is the mother of three young entrepreneurs, all of whom started successful businesses when they were nine to twelve years old.

Kids Money Articles Review by Jenny Ford

EBay and Online Business – Start Your Career Well!

Friday, October 17th, 2008

There are millions of business-minded persons all over the world. And maybe you are one of them. But if you find some difficulties in starting your very own career as a businessman, you partnership consider entering the field of online business.

Every businessman’s story start from a very simple account, that in the succeeding years they became millionaires, or even billionaires. And just like them, it is recommended that you should start your business career in a non-complicated manner, business by doing so, you should launch it in a website called “eBay.”

This is so far the simplest way to start your own online business.. The advantage of this is that you will have more room for learning and analyzing the business strategies, before engaging to a more complex one.

So what is “eBay?”
It is actually a popular website, where people around the world exchange goods. So you should expect that there is a so-called “buy-and-sell” scheme happening here. It works very easy. If you want to sell your products on this site, you must register first. Then you should take pictures of your products, and make a very creative description about it. Then upload photos of your products for other members to see.

One good thing on selling products in eBay is that, your customers are not only from your neighborhood or state, but from other parts of the globe as well, like in Canada, China, Australia, and Hong Kong.

In addition, you don’t need to invest anything here. So do not expect to pay huge amount of money before starting to sell your goods. partnership only need to be more creative, determined, and patient in advertising and selling your goods.

Another interesting thing in doing online business. in eBay is that you can sell anything you like. There are no restrictions, except illegal drugs and other prohibited stuffs. You can advertise and sell antiques, jewelries, school supplies, health and beauty products, computers, collectibles, books, cellular phones, and even real estates. Remember, the whole world is your market.

It can be inferred that eBay online business. is just like doing your very own garage sale. The only difference is, you do not have to set up your garage and have a chaotic display of your goods. You don’t even have to spend long time under the sun and announcing that you are selling your stuffs. In eBay, your business life is more exciting and easy. You can even spend more time doing chores, or having recreation and vacation with your family without worrying much on your business. Let the Internet do the job of advertising!

Things you should remember when doing online business. in eBay is that you should display a reasonable price in your product if you want to really “sell.” Do not do overpricing, because you’ll end up empty-handed. The shipping cost will also be determined, and the mode of payment will usually be through PayPal or other types of money transfer. If you plan to sell abroad, an international selling requirement must be furnished first. You should also know your buyer very well before disposing your products.

Indeed, online business.is a lot easier these days. With eBay available, you can earn as much as you want and develop your Web business skills.

Paul is a very successful businessman and diversed into many things throughout his career, As Business Development and Marketing Manager, Paul managed all aspects of controlling over 100 retail units in the U.K.

Very much involved with Franchising and Business opportunities, always willing to help and advise, Paul has helped many people on the road to starting there own businesses.

Paul has also owned and run successful retail units, franchises and printing Companies, the most recent project was overseeing and advising on a expansion of a local magazine

Paul is also a very successful Internet marketer and has made money on various projects.

Don’t miss this Fantastic New Business Opportunity!

EBay and Online Business – Start Your Career Well!

Thursday, October 9th, 2008

There are millions of business-minded persons all over the world. And maybe you are one of them. But if you find some difficulties partnership starting your very own career as a businessman, you should consider entering the field of online business.

Every businessman’s story start from a very simple account, that in the business years they became millionaires, or even billionaires. And just like them, it is recommended that you should start your business career in a non-complicated manner, and by doing so, you should launch it in a business called “eBay.”

This is so far the simplest way to start your own online business.. The advantage of this is that you will have more room for learning and analyzing the business strategies, before engaging to a more complex one.

So what is “eBay?”
It is actually a popular website, where people around the world exchange goods. So you should expect that there is a so-called “buy-and-sell” scheme happening here. It works very easy. If you want to sell your products on this site, you must register first. Then you should take pictures of your products, and make a very creative description about it. Then upload photos of your products for other members to see.

One good thing on selling products in eBay is that, your customers are not only from your neighborhood or state, but from other parts of the globe as well, like in Canada, China, Australia, and Hong Kong.

In addition, you don’t need to invest anything here. So do not expect to pay huge amount of money before starting to sell your goods. You only need to be more creative, determined, and patient in advertising and selling your goods.

Another interesting thing in doing online business. in eBay is that you can sell anything you like. There are no restrictions, except illegal drugs and other prohibited stuffs. You can advertise and sell antiques, jewelries, school supplies, health and beauty products, computers, collectibles, books, cellular phones, and even real estates. Remember, the whole world is your market.

It can be inferred that eBay online business. is just like doing your very own garage sale. The only difference is, you do not have to set up your garage and have a chaotic display of your goods. You don’t even have to spend long time under the sun and announcing that you are selling your stuffs. In eBay, your business life is more exciting and easy. You can even spend more time doing chores, or having recreation and vacation with your family without worrying much on your business. Let the Internet do the job of advertising!

Things you should remember when doing online business. in eBay is that you should display a reasonable price in your product if you want to really “sell.” Do not do overpricing, because you’ll end up empty-handed. The shipping cost will also be determined, and the mode of payment will usually be through PayPal or other types of money transfer. If you plan to sell abroad, an international selling requirement must be furnished first. You should also know your buyer very well before disposing your products.

Indeed, online business.is a lot easier these days. With eBay available, you can earn as much as you want and develop your Web business skills.

Paul is a very successful businessman and diversed into many things throughout his career, As Business Development and Marketing Manager, Paul managed all aspects of controlling over 100 retail units in the U.K.

Very much involved with Franchising and Business opportunities, always willing to help and advise, Paul has helped many people on the road to starting there own businesses.

Paul has also owned and run successful retail units, franchises and printing Companies, the most recent project was overseeing and advising on a expansion of a local magazine

Paul is also a very successful Internet marketer and has made money on various projects.

Don’t miss this Fantastic New Business Opportunity!

Is Your Goal To Make Money Online? What’s Your Motivation?

Monday, October 6th, 2008

Just the other day I was asked by a family why I spend so many hours on my website and now my blog. At first I was sort of offended by the question. But the longer I thought about it the more it made me realize why I am so passionate about what I do.

I later shared with my wife the details of the thought process I had gone through after being asked that question and I explained to her that few people do what they do for a living because they are passionate about it. When I get an idea for reaching out to more people and improving the quality of their lives through my site I can’t wait to sit down at my computer and make it happen.

As she listened intently I reminded her of a movie we had watched with our kids called “Facing the Giants” in which a football coach at a Christian high school was facing tremendous pressure internally as well as externally as a result of his teams inability to put together a winning season during the previous 6 years. Many of the parents wanted the guy tossed out.

One night as he is leaving the school building he overhears the comments of parents who have called a meeting specifically to discuss how they should get rid of the coach and bring in someone new. Well, as you can imagine this guy was shocked and went home extremely discouraged. He spends the night beating himself up over the matter. As his wife wakes up in the middle of the night to find him in this state of mind she reminds him that he simply needs to put his faith in God.

Well, that morning he is seen walking in an open field with Bible in hand and praying to God. What this coach did not realize was that there was an older gentleman who had spent years walking the halls of the school and praying for all the students and teachers. Later that day this gentleman walks into the coach’s office and tells him a story about 2 landowners who had been praying for rain because there had been a drought in the area for years. One finally decides that he is going to go out into his field and sow his seed even though there was no visible sign of rain. The gentlemen then asks the coach, “which man do you think received the rain?”, to which the coach replies “the one who went out and planted seed in preparation for the rain”.

I share this story with you today to ask you, “what is your motivation?”. Are you willing to go out everyday and sow seed in your field in preparation for the rain? Unless you’re living out in death valley at some point you will get some rain.

In this business called internet marketing, online marketing, blogging, e-commerce or whatever you want to call it, you will go through a period where it seems that all your work is for nothing. You have to know that if you are putting into place all the required elements for a successful business that you are actually “getting your field ready for the rain”. When the rain comes you will be ready to reap a bountiful harvest.

Everyday I go out into my field and pull weeds and plant more seed. I don’t worry about seeing immediate results. If making money is your only motivation then you’ll soon be frustrated and quit. You should be working your blog or website because you enjoy it. You have to be driven by something much deeper. The money is just the frosting on the cake. My cake is that I get to communicate with people that I would otherwise have never met and I get the chance to help them live out their dream with my tips and encouragement. I help them become more satisfied individuals. Thats my passion. That’s my motivation.

What’s you Motivation?

Luis Castillo is a successful online marketer who’s website http://www.internet-home-business-builder.com has helped hundreds of aspiring online entrepreneurs.

This article may be posted freely on websites, blogs, classifieds and other online media as long as the authors’ name and links remain intact.

Make Your Fortune With Free Government Publications

Wednesday, September 3rd, 2008

This is meant to be informative only.  This is not to be taken as legal advice.

Very surprisingly, only a small percentage of the U.S.A. population takes advantage of the wealth of informative material provided by the world’s largest publisher – the U.S. Government Printing Office.

Here is a source of priceless, accurate and official information which is reported and written by experts. Almost every conceivable subject has been reported upon in detail in some government publication – topics such as energy, employment, health, business, investments, science and technology, education, careers, transportation, veterans and personal benefits, consumer advice, foreign trade, law, space, food and diet, astronomy, gardening, medical, maintenance, housing, money management, equipment, hobbies, travel – the list goes on and on.

These publications are available to you upon request. In fact, you indirectly helped pay for them. A part of your tax contribution is allocated to operate the government printing office.

Many of these publications feature business sand personal matters that may directly help you make or save money. This report, however, will outline the most simple and ideal method to reap a huge financial gain from these publications – selling this information by mail.

You undoubtedly have noted ads offering reports on government surplus, oil lotteries, land acquisitions, energy, etc. These ads appear in many national magazines monthly. year after year. Such reports contain information extracted from government publications. Often they are copied word for word. The “insiders” know how and where to get this valuable information free, or at low cost, then use this material to earn huge profits for themselves.

Few people realize that government publications are not copyrighted. Anyone has the authority to use this material for his own personal benefit. That includes copying it word-for-word if desired, reproducing it, and selling the information in the form of books, manuals or reports.

From this vast source of published material are many thousands of ideas you can adopt to prepare an informative publication which can be profitably sold by mail.

The first step, obviously, is to find out which publications are available, what subjects they cover and where they can be obtained. The second step is to select topics which would inform, appeal to and attract a large number of people who would be willing to buy your information by mail. The third step, is to compile this information into a book, manual or report, get it printed, then go about the business of marketing it profitably.

Step 1

Besides a huge volume of official documents, the government printing office issues about 25,000 other booklets and reports with topics that concern and interest the general pubic. The government also publishes guides which lists and describes new issues when they become available.

Write to the Consumer Information Center, Pueblo, CO 81009. Request to be placed on their mailing list to receive the “Consumer Information Catalog” which is issued periodically during each year. Also request to receive “Selected U.S. Government Publications” from: Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402.

Many public libraries stock these catalogs and some government publications. You can check for titles of current and back issues and order anything that interests you or copy any information you need. You may also find copies at other U.S. and State agency offices and perhaps at your local chamber of commerce office.

Publications may also be obtained from government offices such as the U.S. Department of Commerce, U.S. Department of Agriculture, etc. These agencies offer many publications pertinent to matters in their field. For example, the Department of Commerce can provide data and information assistance in various business matters, foreign trade, etc.

The ruling powers in Washington are cutting funds to many agencies. It is likely that in future not as many free publications will be available as were printed in the past. The low cost of any government publication, however, is still a tremendous bargain. Never hesitate to pay a small amount for valuable information that could be the source of financial benefits for you.

Step 2

Which topics to consider for your publication? What type of printed information will the public buy? Basically, to sell successfully by mail, your product must fill a People need or desire. It must offer a specific appeal factor that will make the public want to obtain the product. Some of the strongest appeals are found in products which promise to help people:

Make Money Be Safe & Secure Have Fun & Enjoyment Save Money Eliminate Problems Find Out Where to Get Save Time & Effort Be Popular Something Beneficial Enjoy Comfort Do Things Better Something Useful Enjoy Health Gain Success

Thus, your publication should deal with the “How To” and “Where To” type of subjects. This is the main information the buying public seeks and will buy. The stronger information appeal your publication offers, the larger number of people will be attracted to you offer. This factor will translate into a greater sales volume and ultimately higher profits.

Emphasized again, the subject matter of your publication must interest and appeal to a large number of prospects. Among large group categories are: households, blue collar and white collar workers, opportunity seekers, investors, dieters, recipe fanciers, gardeners, teenagers, senior citizens, mail order aspirants, health and exercise enthusiasts, fix-it-uppers, hobbyists, sportsmen and many other specific classes of people seeking helpful information to fulfill their desires and needs.

Step 3

When you decide upon a suitable subject or subject or subjects, you next step is to compile the information into your own publication. You can copy word-for-word from the government literature, extract portions of the copy, express the ideas in your own words, or add some of your own ideas and thoughts to enhance the subject and provide the reader with additional information.

The size of your publication will depend upon how many words are necessary to fully cover the subject. Provide every essential and important detail so the reader will completely understand and benefit from the information. Don’t skimp, but don’t include anything that is superfluous or inappropriate to the subject. Give the customer at least what he expects – more if possible. A happy, satisfied customer is a confident prospect for your future offers.

For example, a publication entitled “Second Opportunities”, explaining a large number of money-making activities, might require a booklet form of many pages. A publication entitled “How to Grow Prize-Winning Roses” might be a report of just a few pages.

As stated previously, you can reproduce any government printing, even page for page, if that size would fit the style of your publication. to test your offer, you can get initial copies mimeographed, but the best-looking reproduction can be provided by an offset printer. He can reproduce printed copy. Type your own copy on a machine with carbon ribbon. It will provide clear, dark copy which the printer can reproduce with sharp results.

Adopt a title for your publication that will create attention. The title in a descriptive circular, or stated in a classified or space ad, can affect sales. The title should explain the subject matter in as few words as possible. Bring out as many of the appeals listed in Step 2. Yet, keep the title short without sacrificing any word or phrase that might keep a reader form becoming a customer. Look through magazines for titles of books and reports sold by mail. You will get ideas for preparing titles to attract the mail order buyer.

What price to charge for your publication? Only testing can determine the right price. The right price is the selling price that brings in the most profit Not total sales necessarily, but profit… the bottom line in any business activity. Set a price initially based on the suggestions in the following paragraph. Later tests may determine that you can make more profit by charging more and selling less. Or, tests may prove that by lowering the price and selling more units, you earn more total profits. Often the introduction of a new mail order product requires testing… and testing again… until the most effective sales copy and the right selling price is established to provide the most profit from each promotion.

To make big money selling information by mail, consider pricing your publication at least 10 times its cost. And, that’s just the norm for a multi-paged publication. A report of just a few pages must be sold for 15 to 20 times its cost to realize adequate profits from promotions. To start, get just a few copies printed. but, don’t base your selling price on this cost. Request the printer to quote you on 1,000 and higher quantities. This will be the volume you will be purchasing if your publication is successful and that cost should be the basis for initially pricing your publication.

To promote sales of your publication, use one or all of the usual mail order methods… classified ads, space ads and direct mail.

Classified ads are seldom productive if the advertiser solicits orders for items priced over $3.00 directly from the ad. Classified ads are mainly used to obtain inquiries for higher-priced items. So what can you do with a publication that must sell for $5.00 or $6.00? You should promote this publication through space ads or include the publication in a descriptive circular or catalog featuring this publication among other offers of your own or that of other publishers.

Space ads are what the terms implies; they feature more space than a classified ad. This greater space allows for bold headlines, more details about the offer and inducements for the reader to send in an order. If space permits, an order form is included in the ad.

Direct mail consists of People your offer to a list of names. These names could be your customer list or names obtained from a list broker. Use only name lists that will be responsive to your offer. For example, an offer for a gardening publication should not be sent to a list of auto mechanics. Such a mailing would stand little chance for success. Also, it would hardly pay to send out a mailing for a $5.00 or $6.00 offer. Use direct mail to promote $10.00 or higher items, or send circulars or catalogs featuring several publications to receive orders for multiple items and higher dollar average per sale.

Selling information by mail profitably, requires application of the basic methods used by other successful mail order operators. This report, of course, cannot provide a complete course in mail order techniques. Obtain some books which explain how to operate a mail order business efficiently.

To summarize, check over the list of government publications that might provide suitable material for your own book or report. Then send for it. Determine if the contents can be the basis for a publication with strong appeal to a large group of prospects. Compile this information into an interesting book or report. Promote your offer slowly and carefully at the start. If promotional tests are favorable you can increase your advertising and promotion efforts, sell larger volumes of your publication and earn larger profits.

Follow these procedures faithfully and you could be on you way to earning a fortune – making your start with free government publications.

Copyright 2004 by DeAnna Spencer

Note to editors:
To show my appreciation to the editors that use my articles, I offer a free solo ad. Simply send an email to People by using the form on the contact me page on my website to tell me the url the article was used on or send me a copy of the ezine it was used in.

DeAnna Spencer is a virtual assistant that helps entrepreneurs run a successful business by providing affordable administrative help. She also publishes a blog for small business owners. Visit this small business resource today.

Leadership – 5 Lessons From the Current Recession

Sunday, February 24th, 2008

Many parts of the world are in recession or at least facing a downturn in the economy. At these times, redundancies and cutbacks are announced on almost a daily basis. Like all events, the current economic challenges present the opportunity for learning for current and aspiring business leaders. So what are 5 key lessons from the current recession?

Lesson 1: Take a long term view

Businesses exist or are established with a view to growing and existing for a long time. With so much information so freely available about opportunities to make gains now or the constant focus in the media about how bad things are, it is easy to lose sight of the bigger picture. By keeping a focus on the bigger picture and recognising that the economy generally goes in cycles, you can avoid taking short term decisions which are not in the best long term.

Lesson 2: Don’t put all your eggs in one basket

In business it is important not to put all of your eggs in one basket. It is important to have a portfolio of products and/or services so that you can spread risk and reduce the impact of downturns in the economy. This is exactly what we do when it comes to investing or saving. We have a range of options to spread the risk.

Lesson 3: Continually innovate

Successful businesses don’t stand still. They are continually looking for new products or services they can offer or new and innovative ways of offering what they currently have. In large organisations it is easy to become complacent, to stop looking out for ways to address an unmet need or to believe that the good times will stay for ever. Having different products and services at different stages of the life cycle is important and this requires constant innovation.

Lesson 4: Focus on the way forward

Pick up any newspaper, listen to radio or watch TV and chances you will come across lots of negativity about how difficult things are. While without doubt things are challenging at the moment, there is little point in investing time and energy focusing on what has happened. Time and energy focusing on the way forward is much more productive and beneficial than focusing on what has happened. Make a commitment to focus on how you move forward and achieve even more success.

Lesson 5: Expect uncertainty

Uncertainty is part of parcel of being in a leadership role and it is essential to your success that you expect, accept and prepare the best you can for uncertainty. Regularly look at trends in the area which you operate. Consider what might create uncertainty. Develop your ideas on how you will address the uncertainties if they arise.

Bottom line- The economy will always go through periods when it is strong and periods when it is weak. As a leader you need to prepare yourself the best you can to prosper in both good and bad times. I invite you to take the first step by signing up for my free e-course and monthly newsletter at

http://www.goalsandachievements.co.uk

Duncan Brodie- Goals and Achievements