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, July 31, 2009

You are what you eat and drink

Did you know that you are what you eat and drink? So, watch what you eat and drink if you dream of staying long and healthy. One of the most amazing things is that many people were taught on what to eat and drink at their elementary level but end up eating junk. I want to remind you of the few rules to keep you healthy and strong.

You need to ensure that you include fruits and vegetables in your diet. This can be simply done by adding salads to every meal. Snacks should be substituted with a fruit or a fruit juice. Avoid eating foods that are extremely rich in starch. Remember the rule that says that your breakfast should be the heaviest.

Drinking too much alcohol is harmful. Can you try to substitute alcohol for fruit juice, and if you can fresh water? Drinking water stops a craving for alcohol and dehydration. Studies say that it is dehydration that causes bad hangovers. You need to know that the sure cure for a hangover is not one more bottle but plenty of water. Six to seven glasses of water are good for your health. Remember that water is a natural blood purifier.

If you are eating out, for example in buffets, make sure that you eat fresh. This means that you must careful to you eat vegetables. Avoiding highly spiced foods is a proper pre-requisite for eating out, especially if you are allergic or have stomach upsets.

Where to invest

With so many business opportunities in the internet, ad sense, click bank, Amazon etc, one not only needs to know how to identify a genuine opportunity but also one which will give the best returns. Even the best business opportunity can miss returns if you do not know how to run it. The success of any business venture largely depends on how the business owner is able to identify customer needs and effectively satisfy them. This means that the business owner should religiously update him/herself with the current business trends. Thus the best way to remain in business when you realize that you are beginning to make losses is to carry out a market research for your products.

The detention of your business failures is far much effective through research than by just trying to identify them theoretically. One draw back of research however, is that it becomes hard to establish trends when the consumers have changing needs and therefore do not follow a specific pattern. Nevertheless, you better establish that consumer needs are changing for this will allow you to change the kind of products you trade in.

Much has been said about internet business. It is argued that it is not easy to identify which business pays. The truth is that most of such businesses are paying but the challenge is who to market such products. Marketing internet businesses take different forms. What you need to establish is which strategy work for you. Remember that this still applies to all business ventures.

Supplies management

If you get cheap products from your suppliers, you are likely to make more profit. This does not mean that you sacrifice quality for cheap products. What you must understand is that you can continue providing quality services to your customers while at the same time acquiring them at a better price from your suppliers.

The key in cutting down costs from supplies, is knowing where you can get them in more quantities at the same price you get them at. A good businessman/woman should know all the suppliers in the neighborhood and strive to develop a relationship with them. From this group of suppliers, you can now identify the best one for a long term relationship.

However, the best places for bargains are from the manufacturers themselves. Even the suppliers in our neighborhoods get their goods from such manufacturers, after which they charge a fee as their profits. This goes without saying that if you get direct supplies from the manufacturers, you have more income as profits.

It is important that as you stock your business, avoiding going overboard by buying in very large quantities. Some people do this thinking that they will save a lot on the costs that go with reordering. Make sure that what you stock will be sold within the expiry period. This means that you must take time to do a quick inventory of what you business needs; do not be in a haste to order even what may be unnecessary at the moment.

Stimuli for business growth

One of the unbelievable imaginations is that your business could have a rapid growth especially at the current world economic crisis. Of course, your concern should be, how can your business grow fast? The second, how fast will it be? The truth is that even during bad economic times; your business can still experience growth.

First, you must establish what your customers’ attitude towards your products is. Remember that your business exists for your customer. Whether you like it or not, your business will only go as far as your customers’ perceptions are. You may have the best product in the market but your business has a bad public image. Customers may never know how good your products are. This means that public image comes before quality. This is why marketing should be the first option in your business. s you market your products, you must emphasis that your business cares about the needs its customers, stress on the products’ convenience and affordability. Remember that quality is left for the customer to decide. The truth is that what one consumer considers being quality, may have a bad taste on another.

The path of continuous business growth only begins with an improved public image and customer perceptions. This can only be possible by providing positive information through marketing. Without proper marketing, your customers tend to form their own attitudes towards your products. This of course may differ from what you may want them to know. Never wait for a product to market itself.

Self employment

Many people depend on their monthly salaries. What you must understand is that your salary will never be enough to give you the life that you desire. I want you to understand that while you earn a salary, the person you are working for earns profits. You need to decide whether you want to be living on salary or profits. Many people are afraid of self employment with the notion that it is risky and they may end up frustrated. If that’s you, then never imagine of becoming rich. I advise people to be investors and not entrepreneurs. Entrepreneurs are risk takers, investors are not. Want you need to be is an investor. Investors take their time to study the business opportunities and only invest in those which are viable.

Anyway, I am not trying to convince you to quit your job but to use your job to be the millionaire you want to be. Before you hand in your resignation letter, please be patient enough to look at the most promising venture. It is important to allow your new business to grow enough before you resign. I have come across people who quit their jobs and expect to earn a living from a new business. Remember that your business needs a grace period to ensure stability and continued profits.

For the people who are doing business for the first time, it is unadvisable to come up with a whole new idea. Try businesses that others have succeed in before. Wait until you have studied how to do profitable business then launch a brand new invention.

Exploring new marketing methods

Have you ever thought of making fresh attempts to establish new markets in order to expand your existing customer base? The simple truth in business is that effective marketing gives you a great business potential. One thing that you must strive to achieve is re-opening any markets that you may have lost. May be you need to establish the cause of such losses to avoid doing them again.

It will shock you much just to realize how much your business is losing due to untapped markets that exist in your business environment. To have a continued increase in customer base, it is important to send a team to do research on the market potential and study other logistics. Once such a team has brought back its report, know which sectors of your market have the largest potential.

A good businessman/woman does not rely on one market as his/her sole source of income. On the other hand, do not rely on one stream of income. With the changing customer needs, there is also need to come up with new strategies to satisfy such needs. This requires an ever thinking marketing team. It means that your marketing department should be that of critical thinkers.

Marketing does not necessarily mean that you spend much finance in the media. There are other marketing strategies that do not require any resources. For example, treating your customers in a respectable way is a traditional method of marketing. On the other hand, after sale services, re-branding and re-packaging are other methods to keep you going.

Customer attraction

For a long time, people have thought that the best way to keep your business running and to open new markets is by just advertisement. But it turns out that they are a set of tools and skills especially during tough financial situations. There are many customer attracting tools that are often overlooked and underestimated, and presumed to be nothing. If you have spend a lot of time and resources wondering what will help you stand out as a successful businessman/woman, the secret is diversifying your marketing strategies.

It has been noticed for years that the best performers are the ones who have quick thinkers in their marketing team. This means that your marketing team should not only be thinking of spending money in the local media but coming up with updated customer attraction strategies. Remember that customers are also attracted to new ideas and not what they are used to.

The truth is that if you can survive the bad economic times for you business, you can survive anything, especially the world economic crisis. Every single way of marketing should start by developing a relationship with the prospective customers. Unfortunately, many businesses fear this because it will bring out the best and the worst in them. Anyway, be ready for the fact that your customers may realize your mistakes. But do not worry, this will not continue for ever.

Bad economic times should not be your discouraging points. The business world is characterized by shifting goal posts. You just need to know which side to score this time round.

A simple guide for business starters

Probably you want to start a business but you do not even know where to begin. One misconception that you can ever have is that they are people who were created to do business, while others were not. If there are people who are naturally businessmen and women, then you are simply one of them.

Some of the common questions people ask are how to start a business, which business to engage in, what to sell, when to buy, who to sell to, and all that goes on in business. These are important questions that also determine how one should invest. The world today offers many opportunities for business. There are generally two main areas where you could probably invest in, the service and goods industry. The services industry does not deal with tangible goods. Many investors have argued that this is the better industry and brings in more returns.

In starting a business, you need to identify a target group. Next, you must know what your target group needs. Then study the market and know how you can profitably provide these goods or services. Remember that you may not comfortably do this without beginning with a business plan.

When buying a product for resale, it is important to set objectives on why you are putting your money in the market. The probable reason is to supplement your income from the normal employment. You must have in your mind that your business can grow to the point of employing others. This means that you must identify a good business opportunity.

Employee search: common oversights


If you are thinking of looking for employees for your organization, then you must look for performers. Research is now showing that the best performers are not necessarily the people with the best academic qualifications. Most business managers go for the people with certificates but lack the necessary skills to keep your business running. This means that you must seek for skills and willingness to learn in every person that you will recruit for your business.

It is almost impossible for newly recruited employees to immediately perform well, regardless of how much experience they may have. This is why every organization has orientation programs for such employees. Remember that such kinds of orientations are full trainings on duties and the organization’s culture with the intention of equipping the staff.

In your search for an employee, you therefore need to identify potential and in born ability. Many organizations stress on work experience which to me is not important. I want you to know that every employee will follow the laid down structures in your business. Even the best managers will not be successful if you have bad structures and working environments.

On the other hand, interviews are a great way to identify potential but sometimes are not used effectively. I have heard of interviewing panels which frustrates its candidates. One is left wondering whether the panel is looking for an employee or are out to frustrate others. By this they compromise their sole objective of looking for a suitable candidate. Also have in mind that they are people who may not be able to fully express themselves in front of a panel but may have great potential, so be on the look for such.

A simple guide for business starters


Probably you want to start a business but you do not even know where to begin. One misconception that you can ever have is that they are people who were created to do business, while others were not. If there are people who are naturally businessmen and women, then you are simply one of them.


Some of the common questions people ask are how to start a business, which business to engage in, what to sell, when to buy, who to sell to, and all that goes on in business. These are important questions that also determine how one should invest. The world today offers many opportunities for business. There are generally two main areas where you could probably invest in, the service and goods industry. The services industry does not deal with tangible goods. Many investors have argued that this is the better industry and brings in more returns.

In starting a business, you need to identify a target group. Next, you must know what your target group needs. Then study the market and know how you can profitably provide these goods or services. Remember that you may not comfortably do this without beginning with a business plan.


When buying a product for resale, it is important to set objectives on why you are putting your money in the market. The probable reason is to supplement your income from the normal employment. You must have in your mind that your business can grow to the point of employing others. This means that you must identify a good business opportunity.