Help From Family Has Its Costs 10 Things I Learned From Failure : Lifestyle Every entrepreneur has made a series of mistakes or been subject to failures along his or her entrepreneurial journey. These setbacks, t May 04, 2011 Every entrepreneur has made a series of mistakes or been subject to failures along his or her entrepreneurial journey. I am proud to have learned such a great deal from my failures, and the fact that I get to share them—and, more important, the hard-knocks lessons learned—with a worldwide audience is a real thrill. And with that, here are my top 10 lessons learned from my past failures that were well worth the price of admission (well, after I survived them, that is). 10. Build a sustainable business for yourself, and not one based on hypothetical acquisitions or imaginary investment capital. 9. If you are human, guess what? 8. If your answer is anything other than one, and you are a small startup on a shoe-string, guess what? 7. Don't get stuck in analysis paralysis! 6. If you project 100 customers, you might get 10. 5. 4. 3. 2. 1.
The Power of Saying &I Don't Know& Column by Janine Popick, Inc.com "Girl Power Female CEO's" February 11, 2010 Imagine six business colleagues in a meeting and the leader of the meeting says: "Did everyone get the TPS report?" Everyone in the room nods. If you have no clue what a TPS report is and you’re like me, you raise your hand and say, "At the risk of sounding like an idiot, I don’t know what a TPS report is, can you elaborate?" The leader then elaborates and you see a sign of quiet calm come over all of the people that now know what a TPS report is, because you asked. In today's ultra competitive work environment, many people feel the need to be "super workers" and have an answer to every question. I once worked with a guy who was a stereotypical Sales Shark! In another incident, I was recently on a conference call with someone who was trying to get our business. Why do people have to pretend to know everything? The Bottom Line: The Truth Doesn’t Hurt
5 priorities that should dominate corporate directors’ to-do lists Key challenges threatening companies’ reputations are expected to crowd agendas of corporate boards, including their audit committees, this year, according to research by the EY Center for Board Matters and Deloitte. “With the rapid rise of transformational technologies, digital risks, and human capital challenges, boards need to effectively manage reputational risk on a global scale,” Ruby Sharma, a principal with EY and the EY Center for Board Matters, said in a statement. “As a result, board members’ time commitment might increase in 2015,” Sharma said. Reputational risk is driven by a host of business risks. At the top of the list are fraud, bribery, and corruption; cyber-breaches; product and service risks related to safety, health, and the environment; and risks related to actions taken by suppliers and vendors. Board composition and turnover. Pressure from shareholders could come through proposals or letters to the board and through proxy voting decisions. Improving disclosures.
Top 10 Traits Of Highly Successful People Rating: 8.2/10 (185 votes cast) We have all read about people who are successful briefly. They win a gold medal, make a fortune, or star in one great movie and then disappear.…These examples do not inspire me! My focus and fascination is with people who seem to do well in many areas of life, and do it over and over through a lifetime. These are the people who inspire me! 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. These traits work together in combination, giving repeatedly successful people a huge advantage. This article was originally written by Philip Humbert and can be found here
AMA Playbook How Competition Hurts Your Company The Crimes We Commit in the Name of Team Building… How Competition Hurts Your Company Competition is the way to keep your edge and maintain your position in your industry. It’s the lifeblood of business, right? Not so much! A University of Minnesota study recognized this way back in the 1990s. There are a couple of reasons why internal competition hurts your company. First, a lot of competitive exercises disguised as team building create meaningless competitions that pit departments and individuals against each other. Second, having different parts of your company compete with one another is a bit like having your hands try to compete with your feet. If you want to achieve greatness in your company, then develop healthy bonds between your internal teams, the employees, and the boss—and even with the top leaders and the organization itself. The way to do this is by creating a common purpose. So why do men and women sign up for the job? Purpose. About The Author
10 Signs You Shouldn't Be A Small Business Owner : Managing Thinking about starting your own business? Take a moment to read the signs. While no single sign here guarantees failure, any one of them wi April 26, 2011 Thinking about starting your own business? The essential requirement is to be honest with yourself. 1. Making decisions doesn't mean you need to make every single decision (that's what we call micromanaging), that you have to deliberate for hours over the ones you do make (that's what we call procrastinating), or that you have to make decisions following a certain procedure or managerial methodology. An indecisive leader wastes time trying to figure out which way the wind is blowing. 2. If you're known among friends and family as the Master Excuse Maker, don't open a business, at least not until you get a handle on being the one who doesn't invent excuses but takes responsibility. No matter whose fault a mistake is, as the head of your business, you have to own everything that goes on in your business, bad and good. 3. 4. 5. 6. 7. 8.
Why you must reinvent your company every 3.5 years Ask any manager on planet Earth, “What is your key challenge?” and among many different responses one will strike you with remarkable consistency: Staying afloat. The fast-moving roller-coaster economy we live in today makes this task increasingly difficult. Just as we handle one crisis, another looms around the corner. How can we sustain— and even thrive? The answer is the one you’ve heard before: We must consistently remake who we are, what we offer, and how we deliver our offerings to the world. Let me explain. Once upon a time, our companies enjoyed long and healthy lives, with a slow rise to the top of financial performance and a gradual decline to annihilation. As Steve Denning of Forbes puts it: “Fifty years ago, ‘milking the cash cow’ could go on for many decades. Denning’s claims are supported by research conducted by the Deloitte Center for the Edge in 2001, which is about how corporate life cycles were diminishing rapidly. Does it mean that we are all doomed? Dr.
4 Lies Business Owners Tell Themselves : Managing Sometimes we need to draw the line between optimism and delusion. Here are four common lies to avoid telling yourself. August 29, 2011 Running a business is exhilarating but challenging. In the past year or so, I have spoken with business owners and managers who have accidentally fooled themselves. 1. A CEO with many years of experience believed that a proprietary technology would assure sole-supplier status in a lucrative, narrow space. The harsh truth is that customers may not understand, need or value the differences between your company’s solutions and those of your competitors. Sure, show up with your great product line, engineered to perfection. Pinpoint the functionality that customers need in each market segment (and integrate these functions into product design).Differentiate and package products in ways that are intuitive to use.Surround unique offerings with solid service. 2. A manager displayed pride in the integrity of her department’s procedures. 3. 4.
EY Unlocking value with an effective operating model Industry perspectives Clustering markets by stage of development Companies should consider clustering markets according to their stage of development. Markets such as Japan, Australia and South Korea can be grouped together due to similar dynamics in terms of the maturity of modern trade. This clustering approach enables companies to stay close and relevant to the market, while still realizing some scale benefits by bringing similar markets together within the same regional structure. Taking constraints into consideration The constraints of markets should be factored into the design of these clusters. For more information, contact: Kimjin (KJ) Gan Asia-Pacific Advisory Operating Model Effectiveness Leader, Consumer Products For further information, download a copy of our full report. Meet the authors
The 6 Excuses Entrepreneurs Use To Justify Their Struggling Business : Lifestyle Quit whining! Here are how to solutions to the most common excuses that entrepreneurs make. September 12, 2011 Still juggling excuses to justify your struggling business? Many of our struggles as entrepreneurs are a direct result of the excuses we make up. 1. What you are saying here is that you are simply throwing your hands up into the air and admitting that you don’t believe you can compete head-to-head with them. 2. Humbug! 3. This is a common excuse, but there is no “ideal” age at which to grow your business. 4. Are you kidding me? 5. This is one I hear all the time. 6. This may be the most insidious excuse of all—it puts you on the hamster wheel for life! Stop using excuses and just go for it.
The 67 Steps by Tai Lopez (REVIEW) - Basic Growth What is The “67 Steps” Program? The last couple of months I’ve stumbled upon something I’ve never come across before on the internet.. It’s a video course where Tai Lopez (An investor, entrepreneur and author) talks about 67 important lessons he learned throughout his life. By balancing your health, your wealth and your social life you’ll reach a state of eudaimonia. Tai illustrates each topic with personal stories from his life or insights he picked up from reading books. And he has read quite a few… (5000+ ) The course is was completely free and you even got a additional copy of “Managing Oneself” by Peter Drucker to discover your personal strengths. This course is gold It this review I’m going to share the most important lessons I’ve learned from the course and how I plan to implement those steps into my life (the ones I’ve found relevant at least) At the moment I’m at 16 19 21 different key lessons. Note: These are my personal interpretations of what his 67 steps mean. Let’s go. How? – Simon
Why It’s Better to Be Underpaid | BNET Last Updated Aug 18, 2010 1:50 PM EDT Culturally, we keep salary information confidential. I'm not just talking about company rules, I'm talking about in our private lives as well. Seriously, how many of your neighbors know how much money you make? But, what if everyone knew? This is on my mind because the City of Bell, California, just revealed that several city officials were grossly overpaid. City Manager Robert Rizzo, who made $800,000 a year, Police Chief Randy Adams, paid $457,000, and Assistant City Manager Angela Spaccia, at $376,288 annually, all resigned last month after a closed session of the city council. As a result of this scandal, the California Attorney General's office is now requiring cities to disclose salaries in their financial reports. Now, I know you aren't paid $800,000 a year. But what if everyone actually knew your salary? You may think that what you want is to be overpaid, but I'm telling you what you really want is to be underpaid. Got a workplace dilemma?