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Choose The Right Business For You In Less Than 15 Minutes
3 Characteristics Of "The Right Business" Model The business must service a large market. Niche markets are also very profitable but require specialist products and customer service. Target niche markets when you are more confident in your business ...
Don’t Allow Yourself to Get Burned
I am not a big fisherman, but I do enjoy it whenever the opportunity comes my way. I have some friends who are fanatics and occasionally I will go out with one of them. They have nice boats and it makes for an enjoyable day.I like fishing from a boat ...
Ebooks Are a Great Home Business Opportunity
Most home business opportunities are overdone and oversaturated. With most home based business opportunities that are promoted in magazine and websites the options are all the same; start a day care center, become a personal shopper, site at home and ...
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Ever wonder why most small businesses-- no matter how huge effort they put in their endeavor--still fail? Micheal Gerber reveals the answers in this book. Accordingly, the future of small businesses revolve in only three philosophies: the e-myth (entrepreneurial myth), the turn-key revolution, and the business development process.
The E-myth
The e-myth, or the entrepreneurial myth, evolved from one very fatal assumption-- that the success of every business is simply achieved by summing up the following: an entrepreneur’s desire to own a business plus the certain amount of capital he puts in plus the knowing the amount of targeted profit.
Little did the entrepreneurs know that this assumption spell DISASTER rather than SUCCESS. Entrepreneurs need to learn to focus more on the business—the people involved in it and the phases it normally undergoes. Knowledge on these can save small businesses from experiencing entrepreneurial seizure—a stage wherein an entrepreneur goes through feeling of exhilaration, exhaustion, and despair.
Small businesses basically consist of three main characters namely: the technician (the doer and builder), the manager (the planner), and the entrepreneur (the dreamer, visionary). Moreover, small businesses have different life phases. These are: infancy (the technician’s phase); adolescence (getting some help phase); beyond the comfort zone; and, maturity and the entrepreneurial perspective.
The Turn-key Revolution
As implied by the term itself, Turn-key Revolution speaks of the distinct transformations on the way businesses are managed and should be managed. One very prominent example is the introduction of McDonalds the idea of business format franchise to the business world.
The business format franchise has set dramatic turn around on the future of small businesses. Here, the franchisor entitles the franchisee to owning rights to his entire business system. This format is anchored on the belief that the real product of a business is its sales technique rather than what it sells.
The Business Development Process
The business development process is the response to the unending dynamism of the business world. It equips the entrepreneur with the necessary tools to preempt the continuous changes happening around. The process is comprised of three elemental stages: innovation, quantification
and orchestration.
The business development program requires the following aspects to be defined:
Your Primary Aim. The owner’s primary aim should center on what he really wishes, needs and wants for his life. Defining this will push the owner to pursue his defined entrepreneurial dreams.
Your Strategic Objectives. This contains standards that help the owner achieve his goals for his business. This should answer the question: What purpose will this serve my primary aim?
Your Organizational Strategy. Business owners should learn how to appreciate the value of organizational structures. Some points to consider are organizing around personalities, organizing your company, and position contract.
Your Management Strategy. As the owner you should recognize the truth that the successful implementation of a management strategy is not dependent on the people who could implement it but on the system instead.
Your People Strategy. This refers to the approach you take towards your people and their work. To make people appreciate the work they do, you should make them understand the idea behind each of their task assignments.
Your Marketing Strategy. Here is the stage where all attention suddenly shifts from owner to the customer. You set aside your personal goals first and start focusing on the customer’s needs.
Your Systems Strategy. There are three kinds of systems in a business: the hard systems, the soft systems and the information systems. The hard systems refer to all those in your business that are inanimate and has no life. The soft systems refer to all those that could be living or inanimate. The information systems are everything else in the business that provides you with data relating to how the two earlier systems interact.
Summary By: Regine P. Azurin
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Slow economy prompts wave of liberal booksCBS NewsNEW YORK — With a Democrat in the White House, a wave of books is coming out this year lamenting the slow economy and calling for substantial change. And those books are by liberals. "It's the story of the moment right now," says Patricia Bostelman, ...and more » |
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Huntington's exhibit hall for books to get $2.5-million makeoverLos Angeles TimesBy Mike Boehm A change is in store for the Huntington Library, Art Collections and Botanical Gardens' main display of its rare books, manuscripts, drawings, photography and other literary and historical holdings -- including a Gutenberg Bible from the ... |
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McEntee: Books for young readers can be gritty, but rarely damagingSalt Lake TribuneBy peg mcenteE Evidently, swearing in books for adolescents is on the rise, particularly among characters who are rich, attractive and popular. That's the conclusion of a Brigham Young University professor who scoured the content of 40 bestsellers and ... |
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