When you are looking to make money in the shortest amount of time, and do not have a lot of money to do it with, you want to make small investments. Or, you may have a lot of money but are not yet familiar with the best investing techniques. A lot of profit can be gained from small investments as long as you follow some basic rules. Here are four of them for making small investments but getting great returns.
Take Time to Investigate
This should probably be your key factor when deciding where to invest your money. You do not want to jump too quickly into something until you are thoroughly satisfied that it is a good move. Some things that you will need to consider before you make that move are:
o What are the risks?
o What are the minimum and maximum possible results?
o What is the time frame for the desired results?
o Will this money be liquid later?
Answering some questions honestly may make you decide that it may not be that good of a move - or that it is an excellent move. A thorough investigation and a comparison with other possible investments will help you determine which one is the best one for you.
Know When to Jump
Experience will teach you when it is the best time to make your move. One thing that you don't want to do, however, is to repeatedly hesitate on moving when everything indicates that it would be a good investment.
Unless you are willing to depart with your money, make sure that you always have a margin of safety on your assets, or else you may lose it all. This may tend to make you more hesitant, but it will also lead to wiser investments.
Diversify Your Assets
Whatever your reason for looking for small investments, you want to be sure that you do not put all your eggs in one basket. The reason is that it is much safer to diversify your assets across several markets using different instruments and levels of risk, than to possibly lose it all in one bold but possibly misguided shot. This kind of investing is not worth the risk and it will most likely cost you everything.
Balance your assets with different types of investments into bonds for the safest investment, mutual funds for good investments, and various types of stock for your highest yields. The highest yield investments are also the least safe investments, however. Any money that you cannot afford to lose should never be invested in high-risk categories.
Choose the Greatest Profit
Whenever you may find that you have more than one option for making a good small investment and all other factors being about equal, you should go with the one that has the greatest profit margin. Short-term investments will also provide you with quick profits and enable you to use your money again in another great deal. Investments that prevent your money from being liquid for a long time may not be a good idea, when you consider that many profitable small investments could also be short-term.
To learn more about the new wave of option of making money and affecting the people around you in a positive way please visit http://www.successfulmind-doitright.blogspot.com
Experience is the best teacher ever; "Experience brings better understanding, understanding brings good knowledge, knowledge brings idea/creativity, creativity makes you a solution provider and being a solution provider makes you POWERFUL...
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Monday, November 15, 2010
Friday, November 12, 2010
Success factor for small business
Business developers have provided basic tool box of techniques for all these involved in small business management. Most economists has come to realize the value of small business, characterized by dynamism, witty innovations, efficiency, and faster decision making due to its small size. Entrepreneur and SME's need development. If you already have a small business but it is not going well, this is simple strategy you can use to boost the business.
It is obvious that small businesses are important to the growth of any economy. For the fact that it provides job creation, it is a mechanism for income redistribution and they are very good in keeping the wealth of a country within the country because they are indigenous. Small business is a mechanism of wealth creation and poverty eradication. As a matter of fact most large scale businesses started as a small scale business. These simple steps will change your small business to a large business.
Small business can use the internet to boost its activity. By doing this such business that small scale business is competing on the international level. The information technology has made it easy for entrepreneur to take their business global. Toy Story 3
Another strategy to boost your small scale business is to form a strategic partnership. This can take your idea further, faster and also make your activity as business owner easier. If you go with a smart money partner. You can jump-start up process. Importantly when starting an inventory-intensive-business like book publishing. Strategic planners when have as partners will help the company; they open door of working with the right distributors and suppliers.
Another strategy is to tap into investment opportunities for small business. This investment opportunity may involve Oil and Gas, Solid Minerals, Tourism, Hospitality, Agriculture, and many others. These should be done wisely, adequate effort to nurture continuous innovation, knowledge and skill acquisition.
Another thing is to stimulate demand for product and services. All business depends on customers to survive and grow. Company's products and services are patronized when it satisfies the need of the customers. Marketing in its entirety entails offering compelling value proportion to the customer. Small business owners must also know that there is no limit to advertisement. They should take advantage of every means of advertisement. On local TV, Radio Station, Outdoor Bill Board, Sign Board, Yellow Pages, Word of mouth, Classified Advert etc.
Another strategy is to add value into the small business through customer service. Excellent customer service can add value to business by creating a memorable experience for customers by meeting their expectation. If what keeps a business going is patronage by customer then what keeps it growing is the customers coming back and bringing friend, family, loved ones to have a taste of your good services. A customer service is the strength of small scale business. The strength of your competition is your customer service, with the customer service you can compete with large scale companies that offer more variety, lower prices and other things you can't afford.
The top sales killers are among customer skepticism, indifference, indecisiveness etc. it all depends on you to provide experience, quality, dependability, excellent customer services to your prospective customer in other to win their confidence. If your customer feels genuinely wanted and appreciated, you have succeeded in delivering exceptional customer service. Organize a survey, ask question, and let your customer rate your services. This can be done through short questionnaire included in every product sold to the customer. Make the questionnaire short so that it will not be a burden to customer to completeDecision Points
Another strategy which is the last but not the least but not the least is that you must not take your client for granted. The cost of getting each new customer far exceeds the cost of keeping or regaining an old customer. In an attempt to get new customers pay attention to the old ones don't take them for granted. The old customers already know you. They are people you have already served, but who haven't needed your services in a while, so respect your old customer.
This is all you need to turn your small scale into steady income generating machine.
THE ENTERPRENEURSThe Gift
Wednesday, November 10, 2010
TO BE OR NOT TO BE
The great man once remarked "TO be or not to be" never did he imagine the thought will cross minds of young budding entrepreneurs more than anyone else. 99.99 % of MBA's who are trained to be global managers today are no different when it comes to choosing what they want to do in life after completing their masters.
A well paid job, incentives, amenities and yes lot of fame. But given a deeper thought no one wants to think beyond what is usual and dare what their heart says... We know the remaining 00.01 % who dared to dream different and surely, not that they are millionaires today but are doing well with their ventures.
E in this article stands for Enterprise and it is this spirit that is killed every moment. True reasons no one knows but fear dominates them all. Fear of failures, fear of the unknown and fear to try something different is what kills this spirit to Enterprise. It is not a lesser known fact that there are entrepreneurs everywhere, from a small shop owner to an exporter but guess what not even 10 % would be management students.
So what is it that drives to take the risk and go that extra mile? Not money for sure cause not every venture can be a Google.com into making. It is pure passion and smart work that helps! People often plan out early and late comers are most welcome in the game.
It all begins with an idea or a simple concept. An idea that may be new and innovative or a repeated one. Put this all together you have a killer business idea to work on.
However let's analyze what is it that the entrepreneurs need to do to ensure achieving the planned growth through 7 essential qualities of an entrepreneur.
1. Inner Drive to Succeed
Entrepreneurs are driven to succeed and expand their business. They see the bigger picture and are often very ambitious. Entrepreneurs set massive goals for themselves and stay committed to achieving them regardless of the obstacles that get in the way.
Being self motivated and dedicated to the project takes them a long way.
2. Strong Belief in themselves
Successful entrepreneurs have a healthy opinion of themselves and often have a strong and assertive personality. They are focused and determined to achieve their goals and believe completely in their ability to achieve them. Their self optimism can often been seen by others as flamboyance or arrogance but entrepreneurs are just too focused to spend too much time thinking about un-constructive criticism. At times they may want to be autocratic and do what they believe in against the world.
3. Search for New Ideas and Innovation
All entrepreneurs have a passionate desire to do things better and to improve their products or service. They are constantly looking for ways to improve. They're creative, innovative and resourceful. The ideas and the concepts may be old but the trick is to treat it differently and make it a new product altogether.
4. Openness to Change
If something is not working for them they simply change. Entrepreneurs know the importance of keeping on top of their industry and the only way to being number one is to evolve and change with the times. Change is permanent and change for good is necessary.
5. Competitive by Nature
Successful entrepreneurs thrive on competition and spirit to fight back.
The only way to reach their goals and live up to their self imposed high standards is to compete with other successful businesses and with oneself.
6. Highly Motivated and Energetic
Entrepreneurs are always on the move, full of energy and highly motivated. They are driven to succeed and have an abundance of self motivation. The high standards and ambition of many entrepreneurs demand that they have to be motivated!
7. Accepting of Constructive Criticism and Rejection
Innovative entrepreneurs are often at the forefront of their industry so they hear the words "it can't be done" quite a bit. They readjust their path if the criticism is constructive and useful to their overall plan, otherwise they will simply disregard the comments as pessimism. Also, the best entrepreneurs know that rejection and obstacles are a part of any leading business and they deal with them appropriately.
A well paid job, incentives, amenities and yes lot of fame. But given a deeper thought no one wants to think beyond what is usual and dare what their heart says... We know the remaining 00.01 % who dared to dream different and surely, not that they are millionaires today but are doing well with their ventures.
E in this article stands for Enterprise and it is this spirit that is killed every moment. True reasons no one knows but fear dominates them all. Fear of failures, fear of the unknown and fear to try something different is what kills this spirit to Enterprise. It is not a lesser known fact that there are entrepreneurs everywhere, from a small shop owner to an exporter but guess what not even 10 % would be management students.
So what is it that drives to take the risk and go that extra mile? Not money for sure cause not every venture can be a Google.com into making. It is pure passion and smart work that helps! People often plan out early and late comers are most welcome in the game.
It all begins with an idea or a simple concept. An idea that may be new and innovative or a repeated one. Put this all together you have a killer business idea to work on.
However let's analyze what is it that the entrepreneurs need to do to ensure achieving the planned growth through 7 essential qualities of an entrepreneur.
1. Inner Drive to Succeed
Entrepreneurs are driven to succeed and expand their business. They see the bigger picture and are often very ambitious. Entrepreneurs set massive goals for themselves and stay committed to achieving them regardless of the obstacles that get in the way.
Being self motivated and dedicated to the project takes them a long way.
2. Strong Belief in themselves
Successful entrepreneurs have a healthy opinion of themselves and often have a strong and assertive personality. They are focused and determined to achieve their goals and believe completely in their ability to achieve them. Their self optimism can often been seen by others as flamboyance or arrogance but entrepreneurs are just too focused to spend too much time thinking about un-constructive criticism. At times they may want to be autocratic and do what they believe in against the world.
3. Search for New Ideas and Innovation
All entrepreneurs have a passionate desire to do things better and to improve their products or service. They are constantly looking for ways to improve. They're creative, innovative and resourceful. The ideas and the concepts may be old but the trick is to treat it differently and make it a new product altogether.
4. Openness to Change
If something is not working for them they simply change. Entrepreneurs know the importance of keeping on top of their industry and the only way to being number one is to evolve and change with the times. Change is permanent and change for good is necessary.
5. Competitive by Nature
Successful entrepreneurs thrive on competition and spirit to fight back.
The only way to reach their goals and live up to their self imposed high standards is to compete with other successful businesses and with oneself.
6. Highly Motivated and Energetic
Entrepreneurs are always on the move, full of energy and highly motivated. They are driven to succeed and have an abundance of self motivation. The high standards and ambition of many entrepreneurs demand that they have to be motivated!
7. Accepting of Constructive Criticism and Rejection
Innovative entrepreneurs are often at the forefront of their industry so they hear the words "it can't be done" quite a bit. They readjust their path if the criticism is constructive and useful to their overall plan, otherwise they will simply disregard the comments as pessimism. Also, the best entrepreneurs know that rejection and obstacles are a part of any leading business and they deal with them appropriately.
Monday, November 8, 2010
PLANNING WITH A PURPOSE IS THE KEY TO SUCCESS
I believe strategic planning is not all it's cracked up to be. In fact, pick up a copy of the January, 2006 Harvard Business Review and you'll find that strategic planning sometimes only serves as a mechanism to ratify decisions that were made months before.
Getting bogged down by your company's strategic planning process can paralyze a workforce. As the complexity of your world has increased, you have 58 to 95 employees, so have your decisions.
I learned the difference between planning and between making decisions as I watched an outside team of investors begin to dangle the acquisition carrot in front of our faces. We had 75 employees and had just begun to build a very strong management team.
Their strategy was a part of the rollup craze that swept through the marketing, internet and advertising industry in 1999. It wasn't good enough to stand alone. The only value, so said the pundits at the time, was to have four or five offerings under one roof to out-position your competition.
So we went through a series of strategic planning meetings that brought several of us from different successful companies together to determine how this new entity would be structured.
Over lunch one day, several months into the planning cycle that appeared to me to be stranded in no man's land, I remember asking the new CEO of this venture when some decisions would actually be made to move us forward.
What I didn't realize then was that this CEO had never really run a company. His background was in large corporations, running divisions of a larger enterprise. His expertise was not in starting a company. That was our last meeting and soon after, the rollup rolled away for lack of clarity, a defined market and ultimately the CEO's inability to make decisions instead of to make plans.
I know planning is a critical aspect of any business's success. But planning for planning sake will not a company make. You have to be able to identify the key decisions that must be made and when to make them.
Think in terms of kicking the planning process forward from a proactive stance and utilize these Stage 5 rules of the road to help give you a foundation. Your goal - plan with purpose.
Stage 5 Leadership Rules of the Road - 58 to 95 employees:
Rule #1: Overhaul the business model.
- challenge all assumptions regarding vision, mission, goals, objectives and strategies of the company
- challenge all assumptions about the customer, the competition, the market and your company's offerings
- reorganize/rewire the company's resources to meet the new business design conclusions
Rule #2: Integrate the management team into an inter-dependent, executive-focused leadership unit.
- research and design a comprehensive leadership team decision making process
- facilitate the leadership teams comprehensive understanding of the company's detailed flash sheet
- unify the team by co-authoring a team mission and five clear leadership team goals
Rule #3: Establish a one year operational business plan.
- have your leadership team author the company's strategies and initiatives
- have each leader provide operational input from their area of responsibility
- organize and integrate a tactical plan with the implementation of the company's budget
Rule #4: Establish a fully integrated living budget by revenue group and by department.
- develop a comprehensive budget template by revenue group and department
- drive the budget process by the one year business plan process
- review budget assumptions and actual results at every monthly leadership team meeting
Rule #5: Allocate three percent of staff compensation for staff training.
- organize annual purpose and objectives of employee training to fit the needs of the company's business plan
- communicate staff training opportunities to the entire employee community
- establish staff training as part of the employee performance score card
Understanding your company's stage of growth can help you predict how growth will impact you. The 7 Stages of Growth enterprise development model is based on how a company moves from one stage of growth to another based on the number of employees. Why? Because the people-side of your business increases the complexity of your world. And if you understand this complexity factor, you will stay ahead of your growth curve and create a sustainable, profitable enterprise.
Getting bogged down by your company's strategic planning process can paralyze a workforce. As the complexity of your world has increased, you have 58 to 95 employees, so have your decisions.
I learned the difference between planning and between making decisions as I watched an outside team of investors begin to dangle the acquisition carrot in front of our faces. We had 75 employees and had just begun to build a very strong management team.
Their strategy was a part of the rollup craze that swept through the marketing, internet and advertising industry in 1999. It wasn't good enough to stand alone. The only value, so said the pundits at the time, was to have four or five offerings under one roof to out-position your competition.
So we went through a series of strategic planning meetings that brought several of us from different successful companies together to determine how this new entity would be structured.
Over lunch one day, several months into the planning cycle that appeared to me to be stranded in no man's land, I remember asking the new CEO of this venture when some decisions would actually be made to move us forward.
What I didn't realize then was that this CEO had never really run a company. His background was in large corporations, running divisions of a larger enterprise. His expertise was not in starting a company. That was our last meeting and soon after, the rollup rolled away for lack of clarity, a defined market and ultimately the CEO's inability to make decisions instead of to make plans.
I know planning is a critical aspect of any business's success. But planning for planning sake will not a company make. You have to be able to identify the key decisions that must be made and when to make them.
Think in terms of kicking the planning process forward from a proactive stance and utilize these Stage 5 rules of the road to help give you a foundation. Your goal - plan with purpose.
Stage 5 Leadership Rules of the Road - 58 to 95 employees:
Rule #1: Overhaul the business model.
- challenge all assumptions regarding vision, mission, goals, objectives and strategies of the company
- challenge all assumptions about the customer, the competition, the market and your company's offerings
- reorganize/rewire the company's resources to meet the new business design conclusions
Rule #2: Integrate the management team into an inter-dependent, executive-focused leadership unit.
- research and design a comprehensive leadership team decision making process
- facilitate the leadership teams comprehensive understanding of the company's detailed flash sheet
- unify the team by co-authoring a team mission and five clear leadership team goals
Rule #3: Establish a one year operational business plan.
- have your leadership team author the company's strategies and initiatives
- have each leader provide operational input from their area of responsibility
- organize and integrate a tactical plan with the implementation of the company's budget
Rule #4: Establish a fully integrated living budget by revenue group and by department.
- develop a comprehensive budget template by revenue group and department
- drive the budget process by the one year business plan process
- review budget assumptions and actual results at every monthly leadership team meeting
Rule #5: Allocate three percent of staff compensation for staff training.
- organize annual purpose and objectives of employee training to fit the needs of the company's business plan
- communicate staff training opportunities to the entire employee community
- establish staff training as part of the employee performance score card
Understanding your company's stage of growth can help you predict how growth will impact you. The 7 Stages of Growth enterprise development model is based on how a company moves from one stage of growth to another based on the number of employees. Why? Because the people-side of your business increases the complexity of your world. And if you understand this complexity factor, you will stay ahead of your growth curve and create a sustainable, profitable enterprise.
Thursday, October 28, 2010
WHAT MAKES YOU AN ENTERPRENEUR
There are people, who would do anything to stick on to a job and there are people, who would do anything to run away from it and do things on their own. The second category of people are typically called as entrepreneurs.
George Bernard Shaw once said
"The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man. "
The entrepreneur is the unreasonable man. Can you ever imagine life without an electrical bulb? If Thomas Alva Edison did not take pains, failed about 10,000 times and not persisted, we would be today living in the dark. The entrepreneurs of the world make it a place worth living. Just look around yourself, how many things you see started with a small bit of entrepreneurship and ended up changing the world. Some of the examples are computers, Television, internet etc.
Some people are born to lead and become entrepreneurs, while others learn on the way. Most of them however often have similar characteristics. I have outlined some of these characteristics.
An Entrepreneur is a person,
who is not happy with status quo
who wants to bring a positive change to the world
who has definite ideas and a plan
who does not worry about failures
who has willingness to take risks and to spend his hard earned money
who is constantly learning new things
who sees setbacks as opportunities
who understands that success comes with patience
who takes criticism in his stride, talks less and is action oriented
who goes against the 'popular wisdom'
To summarize, an entrepreneur is a person who believes in his idea, is not afraid to take risks and is action oriented.
If you feel that you have these in you, what are you waiting for? Go ahead and jump in the pool of entrepreneurship. At least you will learn swimming.
For more information and detials on how to make money online,start a business e.t.c visit http://www.successfulmind-doitright.blogspot.com
George Bernard Shaw once said
"The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man. "
The entrepreneur is the unreasonable man. Can you ever imagine life without an electrical bulb? If Thomas Alva Edison did not take pains, failed about 10,000 times and not persisted, we would be today living in the dark. The entrepreneurs of the world make it a place worth living. Just look around yourself, how many things you see started with a small bit of entrepreneurship and ended up changing the world. Some of the examples are computers, Television, internet etc.
Some people are born to lead and become entrepreneurs, while others learn on the way. Most of them however often have similar characteristics. I have outlined some of these characteristics.
An Entrepreneur is a person,
who is not happy with status quo
who wants to bring a positive change to the world
who has definite ideas and a plan
who does not worry about failures
who has willingness to take risks and to spend his hard earned money
who is constantly learning new things
who sees setbacks as opportunities
who understands that success comes with patience
who takes criticism in his stride, talks less and is action oriented
who goes against the 'popular wisdom'
To summarize, an entrepreneur is a person who believes in his idea, is not afraid to take risks and is action oriented.
If you feel that you have these in you, what are you waiting for? Go ahead and jump in the pool of entrepreneurship. At least you will learn swimming.
For more information and detials on how to make money online,start a business e.t.c visit http://www.successfulmind-doitright.blogspot.com
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