Excellence in business: must I be trained?

Economic crisis is not the cause of business collapse

Many businesses today have been brought down not only by the global recession but also by mismanagement. It is not in order to assume that the global economic crisis should only be working against your business. Many managers who are failing today are blaming the bad economic conditions for their poor performance. A good business manager should be able to look for effective ways of handling a bad situation and getting the best out of it.

One of the most deceiving business ideas is that by putting your eggs indifferent baskets, you are going to be successful. Most of the managerial trainings include what is commonly called ‘portfolio management’. This theory supports the idea of investment diversification. This is why managers think that during bad financial moments for the business, they need to diversify their investments in order to reduce the risk of losses. This may not be a solution if the management style is wrong. A poor manager will still fail even in a diversified portfolio.

Many are left wondering about what they should do if diversification is not working. The truth is that diversification should only be left for those who are not sure of making it in one line. Instead of diversifying your investments, you should be thinking of specialization.

You should be looking for the best business strategies that can make you a king in your line of operation. Unfortunately, many business managers view success as only retaining some profits for the business. Very few people are endeavoring to be the most outstanding businessmen.

Friday, October 2, 2009

Excellence in business: must I be trained?

An insight into the current levels of business performance suggests that a significant number of business people are not satisfied with how they businesses are doing. The business industry in the world today has tremendously transformed. Unfortunately, many people have not repackaged themselves well to confront this dynamism. Business management and becoming a successful businessman/woman are two different things. Amazingly, there are many successful business managers that are not trained in the business field. Successful management depends on your personality, ability to co-ordinate; control your resources, and proper study of the market.

Have you not wondered why a person with no business training or prior experience finds him/herself behind a successful business, while others with certificates seem not to be finding their way out? There is absolutely no connection between business training and becoming a successful investor. However, the sudden growth in the business sector has come along with many challenges and competition from other business owners. Business owner are hence ready to do just about anything to attract the attention of potential customers. One of these strategies has been the recruitment of personalities perceived to be the top managers and influential policy makers.

Anyway, a consideration to engage in a business course before start a business is a prudent idea but not a prerequisite in starting a business. All you need to do is to do a critical assessment of what appeals to your target customers to more effectively start position yourself in the business world. Most of the many investors now little on management but have employed professional to do the work for them.