You surely know that a small idea can lead to a great business success. The first movement is to think of an idea that would be suitable for the business market. After coming up with the idea, the next step is to put that idea into action. Of course, this is a very difficult step and having the idea is only the start of the journey. After that you will have to face many obstacles before being able to carry on with your business project. This is just the beginning of this process and there is a lot of questions you will have to answer before even start.
Some of the main aspects you have to concentrate on when you have business ideas are the abilities and gifts you can pour into the business. It is very important for you to be identified with your business project. Those ideas should be based on activities and actions you take pleasure in doing. For example, if we suppose that you dislike working in the open, landscaping business would not suit you. On the other hand, if you like working with children, setting up baby-sitting or tutoring business would be an excellent idea. In this case, without any doubt you business will be more successful because you will have put your mind, effort and also your heart on it.
Another vital step is to analyze the needs of a specific product or service in your region before setting up your business. Do people of your area need your product? Are there other business like the one you are planning to start? You should ask yourself whether or not you are the only one offering that service or product. If you are not, you will have to analyze the competence you will have to face. You have to think whether the service you are offering is one that customer would repeat, or if it is a one-time specialized service. Obviously, the former are more likely to succeed than the latter.
There are other aspects you have to take into account. These aspects are described below:
- One of them is that if the idea is unique, you will reign the market. But if there is much competition, it will be difficult to enter into the market.
- A second point would be if you can offer quality from the very beginning, otherwise, you won't succeed.
- Finally, you have to think about your capital to start your own business. There are many business ideas that require little investment and bring great profit. Some demand research, such as daycare service, and others need a large amount of money to begin the business. So take this recommendation into account before investing all your money in a small business idea.
Winning in the Global Economy - Will You be a Victim or Victor?
If you’re still playing by the “How to Achieve the American Dream” rules of your father and grandfather, then:
1. You’ve been downsized out of one or more jobs.
2. You company merged with corporation ABC and you’ve been rightsized out of a job to reap the “synergies” of the merger.
3. You’ve trained your replacement in Bangalore prior to your job being outsourced.
4. You’re working 60 to 80 hour per week and getting paid for 40 hours out of fear of either 1), 2), or 3) above.
5. You’re working under contract and think you’re an entrepreneur or a “consultant”, but you’re really just an “employee without health benefits”.
6. You’re recently retired from a large corporation with a “secure” pension that’s about to be decimated (defaulted to the federal government) so your former employer can continue to compete in the global economy.
The job churn I’ve just described is not just about globalization, however globalization and a digital world with high bandwidth has altered the playing field in corporate america and labor is now a commodity that can and will be acquired anywhere in the world. That either means off-shoring production and even R&D to places like Mexico or China, or digitally outsourcing high skilled jobs like software development to India.
You could argue that not every job is pressured by globalization and you’d be right. There are about 50 million private-sector workers (nurses, truckers, supermarket and other retail clerks, hotel and restaurant employees, construction workers, janitors, security guards, etc.) whose jobs can't be shipped to Beijing or Calcutta. However, these are not the high paying jobs you and I are talking about. The hard fact is that for more and more highly trained and skilled workers the labor pool is now global and you’re competing for work with a newly minted accountant, MBA, software engineer, or physics Ph.D. from India, Singapore, the former Soviet block, or China.
In the last fifteen years the global workforce has doubled in large part due to the embrace of market capitalism by India, China, the countries of the ex-Soviet Union. In addition, U.S. technical dominance and its share of science and engineering graduates at all degree levels is declining rapidly. In 1970 over half of world’s the science and engineering doctorates were granted in the U.S. Today, the European Union has already surpassed the U.S. and projections for 2010 show the EU producing twice as many science and engineering doctorates as the U.S. and if current trends continue, China will actually surpass the U.S. Bottom line, more justification for U.S. Corporations to move R&D and other science and engineering functions offshore.
So what are your choices? You might decide that you’re powerless and blame corporate greed and hope the government or “someone” will step in to protect your “sovereign right” to a high paying job. After all, you did all the right things, got that great education, made good grades, and worked hard. Well for one, corporations are not being greedy they are just seeking the lowest cost of doing business and competing as well as they can. If that is no longer in the best interests of the their “county of origin” labor pool, that is not their problem. Their allegiance is to the shareholder, that is how they are structured and financed. Think the government with save you? Think again, corporations accounted for a huge amount of the funds raised in the last election cycle and therefore own a good deal of political capital. Besides that, globalization in the long run is good for the world economy and for our long-term prospects of peace and prosperity. However, in the near term it’s going to be painful transition unless you wake up to the fact the the ground has shifted and you have to find a new way to achieve Your American Dream.
1. You’ve been downsized out of one or more jobs.
2. You company merged with corporation ABC and you’ve been rightsized out of a job to reap the “synergies” of the merger.
3. You’ve trained your replacement in Bangalore prior to your job being outsourced.
4. You’re working 60 to 80 hour per week and getting paid for 40 hours out of fear of either 1), 2), or 3) above.
5. You’re working under contract and think you’re an entrepreneur or a “consultant”, but you’re really just an “employee without health benefits”.
6. You’re recently retired from a large corporation with a “secure” pension that’s about to be decimated (defaulted to the federal government) so your former employer can continue to compete in the global economy.
The job churn I’ve just described is not just about globalization, however globalization and a digital world with high bandwidth has altered the playing field in corporate america and labor is now a commodity that can and will be acquired anywhere in the world. That either means off-shoring production and even R&D to places like Mexico or China, or digitally outsourcing high skilled jobs like software development to India.
You could argue that not every job is pressured by globalization and you’d be right. There are about 50 million private-sector workers (nurses, truckers, supermarket and other retail clerks, hotel and restaurant employees, construction workers, janitors, security guards, etc.) whose jobs can't be shipped to Beijing or Calcutta. However, these are not the high paying jobs you and I are talking about. The hard fact is that for more and more highly trained and skilled workers the labor pool is now global and you’re competing for work with a newly minted accountant, MBA, software engineer, or physics Ph.D. from India, Singapore, the former Soviet block, or China.
In the last fifteen years the global workforce has doubled in large part due to the embrace of market capitalism by India, China, the countries of the ex-Soviet Union. In addition, U.S. technical dominance and its share of science and engineering graduates at all degree levels is declining rapidly. In 1970 over half of world’s the science and engineering doctorates were granted in the U.S. Today, the European Union has already surpassed the U.S. and projections for 2010 show the EU producing twice as many science and engineering doctorates as the U.S. and if current trends continue, China will actually surpass the U.S. Bottom line, more justification for U.S. Corporations to move R&D and other science and engineering functions offshore.
So what are your choices? You might decide that you’re powerless and blame corporate greed and hope the government or “someone” will step in to protect your “sovereign right” to a high paying job. After all, you did all the right things, got that great education, made good grades, and worked hard. Well for one, corporations are not being greedy they are just seeking the lowest cost of doing business and competing as well as they can. If that is no longer in the best interests of the their “county of origin” labor pool, that is not their problem. Their allegiance is to the shareholder, that is how they are structured and financed. Think the government with save you? Think again, corporations accounted for a huge amount of the funds raised in the last election cycle and therefore own a good deal of political capital. Besides that, globalization in the long run is good for the world economy and for our long-term prospects of peace and prosperity. However, in the near term it’s going to be painful transition unless you wake up to the fact the the ground has shifted and you have to find a new way to achieve Your American Dream.
Why Your Projects Are Not Being Completed
Here are 5 common reasons why your projects are going over schedule, over budget, and generally under expectations of quality.
1. Overextending on your resources: Or simply doing more than what your resources whether it be in finances, human capital, strategic partnerships, time, etc.
2. Micromanaging: Instead of looking over the shoulders of your team mates, focus more on the overall strategy alignment and faciliate intra/extra departmental communications.
3. lack of strategic vision, feature-creep, too tactical (putting out fires, playing catch-up vs how to sustain long term competitive advantage)
4. Eating an elephant whole: no matter how well thought out the project is, the individual pieces may be perfectly executed on time and on budget but then it's impossible or extremely difficult to integrate the pieces. Instead it is probably a better idea to chunk out the projecs to produce measurable results such as described in the "rapid results initiative" where specific quantifiable milestones are set, and once reached can be either built upon or scrapped depending the the goal discovery process.
5. Poor communication between cross-functions: Bureaucracy is part of the game, get used to it, or better yet, learn to be a better communicator and have not just let the marketing or engineering head decide on the project requirements but set aside time to get insight from all constituents and stakeholders.
The untold story, beyond financial losses
Not only do failed projects cost time and money, sometimes amounting to several years, and millions of dollars. But it demoralizes all the stakeholders to the project, especially the frontline employees and managers that had direct reign and input into the project.
As has been quoted in the media and surveys, the majority of projects fail to meet expectations or even sustainable results. Therefore an improvement in the knowledge of the field of project management is perhaps the bare minimum in advancing one's career, or business success in this high paced environment.
1. Overextending on your resources: Or simply doing more than what your resources whether it be in finances, human capital, strategic partnerships, time, etc.
2. Micromanaging: Instead of looking over the shoulders of your team mates, focus more on the overall strategy alignment and faciliate intra/extra departmental communications.
3. lack of strategic vision, feature-creep, too tactical (putting out fires, playing catch-up vs how to sustain long term competitive advantage)
4. Eating an elephant whole: no matter how well thought out the project is, the individual pieces may be perfectly executed on time and on budget but then it's impossible or extremely difficult to integrate the pieces. Instead it is probably a better idea to chunk out the projecs to produce measurable results such as described in the "rapid results initiative" where specific quantifiable milestones are set, and once reached can be either built upon or scrapped depending the the goal discovery process.
5. Poor communication between cross-functions: Bureaucracy is part of the game, get used to it, or better yet, learn to be a better communicator and have not just let the marketing or engineering head decide on the project requirements but set aside time to get insight from all constituents and stakeholders.
The untold story, beyond financial losses
Not only do failed projects cost time and money, sometimes amounting to several years, and millions of dollars. But it demoralizes all the stakeholders to the project, especially the frontline employees and managers that had direct reign and input into the project.
As has been quoted in the media and surveys, the majority of projects fail to meet expectations or even sustainable results. Therefore an improvement in the knowledge of the field of project management is perhaps the bare minimum in advancing one's career, or business success in this high paced environment.
When Is The Best Time TO Take Your Company Public
CEO’s often call and ask me what the revenues and net profit should be before going public, they seem to think that there is a magic number that qualifies a private company into becoming a public company.
There is no set amount of revenues or net profit that is required to take your company public, then when is the absolute best time to go public?
The short answer would be when you don’t need to, or your company is not desperately looking for financing in order to survive.
Instead you are looking for capital in order to finance growth and expansion, or you would like to use the public shares as currency to make acquisitions.
But life isn’t always perfect, so we will take a look at a few questions asked by CEO’s that have called me looking to go public.
What should revenues and net profit be before going public? A company could conceivably have 5 consecutive year of profitability and be a bad candidate for going public.
I recently had a CEO called me from such a company, the revenues and net profit were identical for the previous five years but robust compare to many of the companies you see going public in the NASDAQ BB and Pink Sheets today.
But I didn’t see any growth in either revenues or net profit nor any indication that there was going to be some in the future, the CEO did not know where future growth would come from.
I told him that if he was just going public so that he could tell friends that he was the CEO of public company then he shouldn’t go public.
But if he could develop a strategy for growth and put together a business plan outlining how he was going to grow revenues and net income, he could become an outstanding candidate for going public.
The opposite of that would be a company that has been losing money for 5 years but is exhibiting growth in revenues every year and the losses are smaller.
This company has a business plan and targets for business expansion and every year is meeting those targets, and going public is part of the business strategy. So you tell me which company has the greater potential of being a successful public company?
Investors are always looking for growth candidates to put their money in to. So they will go with the company that has the potential to make them the most money in the future.
Another situation that I often come across is CEO’s who want to go public and don’t have any money for the audit or the legal fees.
There are certain expenses associated with going public that need to be paid. These CEO’s often want to do a reverse merger because it’s the fastest way to go public, but Public Shells are expensive and could be the costliest avenue use to go public.
When a private company purchases a Public Shell, the purchaser must perform a thorough due diligence of the Public Shell to make sure that it is clean and not bringing any past legal problem to the private company.
The due diligence process often get neglected because the private company is not familiar with the ins and outs of the public arena.
So they often take the advised given by the shell owner and submit to his demands. When companies rush to go public they often live to regret it, short cuts can be very expensive. I always give CEO’s who call me the alternative to reverse merger, such as Direct public offering, Regulation D or IPO but if their minds are already made up or they may have already purchased the Shell without doing proper due diligence.
I will do all I can to try and make it work but the CEO must be warn of the perils ahead and how to prepare for them. For example if he does have a lot of shareholders and a lot of shares outstanding he must reverse split the shares to reduce the number of shares available for sale including those own by the Shell owner.
The Shell owner will often require the private company to sign an agreement not to reverse the share prior to the sale, if they agree to this demand they will be making a big mistake.
Also if the company hires an investors relation firm to do PR work and pays them in stock they will see a temporary interest in the company’s shares while the IR is dumping their share.
An IR firm must be carefully and thoroughly check out by asking for names of previous and present client, just pull up chart of their clients stock and see if you detect a sudden rise in the share price and a quick drop once they began dumping their shares.
There isn’t such a thing as a perfect time to go public and if you start preparing early you will be ahead of the curve, start by having your financials audited. This is something that will have to be done and so if you do as you go along you wont have the big expense all at once.
Have a business plan prepared and that is a mirror of your vision and strategy, you will not stick to a business plan that does not reflect your ideal and your vision of what is going to work.
Make sure the business plan is sound and also flexible, it must allowed for a change in direction when one is warranted. A business plan is like a road map, it has a starting point an a destination, you mapped out the way you want to go but sometimes you must take and different route to get there.
Make sure you have capable competent people in the right positions a small company is not the place for specialist, you must have people who can multi task or you will be force to hire more employees than necessary.
Remember nobody know your business like you do but there are certain business principles that that must be adhere to, as well as ethical conduct that must be applied.
If you just follow the golden rule “Do unto others and you would have them to unto you” you will have done your part. Because you always reap what you sow.
You must be wise in selecting the people you deal with. There are a lot of unscrupulous character in the shell and consulting business who will sell you on going public even if you are not ready.
They will also sell you a Corporate Shell and anything else they can, and before you know you will be calling a legitimate consultant to help you but it may be too late.
I recently had a phone call from a CEO who had a nice small company but he need capital to finance the growth in the business, the company was growing every quarter but was trading for pennies because it had over 150,000,000 shares outstanding.
I suggested that he needed to do a reverse split before I could go to my financing people, because nobody will put money into a company that is so diluted. He replied that he couldn’t reverse the shares do to an agreement with the shell owner.
When you buy a shell make sure you are buying the entire flow and that the shares in the hands of the public is not substantial.
Otherwise choose an alternative way of going public. Reverse Merger is not the only way to go public.
Reverse Merger may be the least desirable option for some people, So before taking any action look into the other options available. If the consultant you hire only know Reverse Merger maybe its time to look for somebody else. There isn’t a perfect time to take your company public, it must be part of your over all business strategy and vision, and it requires a desire to make work.
There is no set amount of revenues or net profit that is required to take your company public, then when is the absolute best time to go public?
The short answer would be when you don’t need to, or your company is not desperately looking for financing in order to survive.
Instead you are looking for capital in order to finance growth and expansion, or you would like to use the public shares as currency to make acquisitions.
But life isn’t always perfect, so we will take a look at a few questions asked by CEO’s that have called me looking to go public.
What should revenues and net profit be before going public? A company could conceivably have 5 consecutive year of profitability and be a bad candidate for going public.
I recently had a CEO called me from such a company, the revenues and net profit were identical for the previous five years but robust compare to many of the companies you see going public in the NASDAQ BB and Pink Sheets today.
But I didn’t see any growth in either revenues or net profit nor any indication that there was going to be some in the future, the CEO did not know where future growth would come from.
I told him that if he was just going public so that he could tell friends that he was the CEO of public company then he shouldn’t go public.
But if he could develop a strategy for growth and put together a business plan outlining how he was going to grow revenues and net income, he could become an outstanding candidate for going public.
The opposite of that would be a company that has been losing money for 5 years but is exhibiting growth in revenues every year and the losses are smaller.
This company has a business plan and targets for business expansion and every year is meeting those targets, and going public is part of the business strategy. So you tell me which company has the greater potential of being a successful public company?
Investors are always looking for growth candidates to put their money in to. So they will go with the company that has the potential to make them the most money in the future.
Another situation that I often come across is CEO’s who want to go public and don’t have any money for the audit or the legal fees.
There are certain expenses associated with going public that need to be paid. These CEO’s often want to do a reverse merger because it’s the fastest way to go public, but Public Shells are expensive and could be the costliest avenue use to go public.
When a private company purchases a Public Shell, the purchaser must perform a thorough due diligence of the Public Shell to make sure that it is clean and not bringing any past legal problem to the private company.
The due diligence process often get neglected because the private company is not familiar with the ins and outs of the public arena.
So they often take the advised given by the shell owner and submit to his demands. When companies rush to go public they often live to regret it, short cuts can be very expensive. I always give CEO’s who call me the alternative to reverse merger, such as Direct public offering, Regulation D or IPO but if their minds are already made up or they may have already purchased the Shell without doing proper due diligence.
I will do all I can to try and make it work but the CEO must be warn of the perils ahead and how to prepare for them. For example if he does have a lot of shareholders and a lot of shares outstanding he must reverse split the shares to reduce the number of shares available for sale including those own by the Shell owner.
The Shell owner will often require the private company to sign an agreement not to reverse the share prior to the sale, if they agree to this demand they will be making a big mistake.
Also if the company hires an investors relation firm to do PR work and pays them in stock they will see a temporary interest in the company’s shares while the IR is dumping their share.
An IR firm must be carefully and thoroughly check out by asking for names of previous and present client, just pull up chart of their clients stock and see if you detect a sudden rise in the share price and a quick drop once they began dumping their shares.
There isn’t such a thing as a perfect time to go public and if you start preparing early you will be ahead of the curve, start by having your financials audited. This is something that will have to be done and so if you do as you go along you wont have the big expense all at once.
Have a business plan prepared and that is a mirror of your vision and strategy, you will not stick to a business plan that does not reflect your ideal and your vision of what is going to work.
Make sure the business plan is sound and also flexible, it must allowed for a change in direction when one is warranted. A business plan is like a road map, it has a starting point an a destination, you mapped out the way you want to go but sometimes you must take and different route to get there.
Make sure you have capable competent people in the right positions a small company is not the place for specialist, you must have people who can multi task or you will be force to hire more employees than necessary.
Remember nobody know your business like you do but there are certain business principles that that must be adhere to, as well as ethical conduct that must be applied.
If you just follow the golden rule “Do unto others and you would have them to unto you” you will have done your part. Because you always reap what you sow.
You must be wise in selecting the people you deal with. There are a lot of unscrupulous character in the shell and consulting business who will sell you on going public even if you are not ready.
They will also sell you a Corporate Shell and anything else they can, and before you know you will be calling a legitimate consultant to help you but it may be too late.
I recently had a phone call from a CEO who had a nice small company but he need capital to finance the growth in the business, the company was growing every quarter but was trading for pennies because it had over 150,000,000 shares outstanding.
I suggested that he needed to do a reverse split before I could go to my financing people, because nobody will put money into a company that is so diluted. He replied that he couldn’t reverse the shares do to an agreement with the shell owner.
When you buy a shell make sure you are buying the entire flow and that the shares in the hands of the public is not substantial.
Otherwise choose an alternative way of going public. Reverse Merger is not the only way to go public.
Reverse Merger may be the least desirable option for some people, So before taking any action look into the other options available. If the consultant you hire only know Reverse Merger maybe its time to look for somebody else. There isn’t a perfect time to take your company public, it must be part of your over all business strategy and vision, and it requires a desire to make work.
There Are Tons Of Small Business Grants For Womwn...But Where?
When starting a small business it can be costly, and finding a
grant if you’re a women isn’t always the easiest thing to do.
Little do most people know, there are millions of dollars just
waiting to be claimed for grants from the government and other
little-known organizations. It can be very difficult to find
the right grant for you, and the place of where to get it, but
with a few clicks you too can easily get access to small
business grants for women.
It is not a secret that women are beginning to own more and more
businesses everyday. Not only this, but these businesses are
becoming just as successful if not more then men’s businesses
are. If you are looking for a grant, don’t be hesitant to look
because of what the business is going to be. There are
literally hundreds to thousands of grants out there for women
wanting to start craft businesses, consulting, brokerage, record
labels and more.
When looking for a grant, there is the option of spending
hundreds of dollars to pay somebody to get you a grant.
However, there are other ways that are completely free, but may
be more time consuming then you would hope. One site that is
worth checking out is The Ladies Club 2000.com. It is required
that you sign up and become a member, free of charge, but then
you will have access to grant information on how you can become
qualified for a grant and where you can find grants to begin
your business or increase your business.
http://www.theladiesclub2000.com/grantsforwomen.htm
There are all kinds of companies out there, and the type of
grant that you will receive varies for place to place. On
womens-finance.com, there are two different kinds of grants
offered. There is the New Business grant that is between $100
and $5,000, and there is the existing business grand that ranges
from $1,000-$5,000. You do have to apply at this site and be
accepted, but it is worth checking this site out below:
http://www.womensbusinessgrants.com/
It may not seem like it, but our government does want you to
succeed, and that is why there is millions of dollars out there
for you. Most places have ridiculous requirements in order to
get a grant such as being over 65, being a minority, or even
having bad credit sometimes help the process.
There are sites out there that are specifically looking for
women only to give grants to. These sites are attempting to
help the women population succeed in entrepreneurialism and
begin the road to succession. The site listed just below here
has a list of about ten different sites that are specifically
looking for women to give grants to.
http://www.womanowned.com/Growing/Funding/Opportunities.aspx
There is no reason to get frustrated after not having any luck
finding loans. The government wants you to succeed in opening
your small business, or help develop it that much more. There
are a few sites listed above that are very much worth checking
out to help you find small business grants for women. Don’t get
discouraged as this can be time consuming, but once you find the
financial help needed, you will be on your way to developing
your business.
grant if you’re a women isn’t always the easiest thing to do.
Little do most people know, there are millions of dollars just
waiting to be claimed for grants from the government and other
little-known organizations. It can be very difficult to find
the right grant for you, and the place of where to get it, but
with a few clicks you too can easily get access to small
business grants for women.
It is not a secret that women are beginning to own more and more
businesses everyday. Not only this, but these businesses are
becoming just as successful if not more then men’s businesses
are. If you are looking for a grant, don’t be hesitant to look
because of what the business is going to be. There are
literally hundreds to thousands of grants out there for women
wanting to start craft businesses, consulting, brokerage, record
labels and more.
When looking for a grant, there is the option of spending
hundreds of dollars to pay somebody to get you a grant.
However, there are other ways that are completely free, but may
be more time consuming then you would hope. One site that is
worth checking out is The Ladies Club 2000.com. It is required
that you sign up and become a member, free of charge, but then
you will have access to grant information on how you can become
qualified for a grant and where you can find grants to begin
your business or increase your business.
http://www.theladiesclub2000.com/grantsforwomen.htm
There are all kinds of companies out there, and the type of
grant that you will receive varies for place to place. On
womens-finance.com, there are two different kinds of grants
offered. There is the New Business grant that is between $100
and $5,000, and there is the existing business grand that ranges
from $1,000-$5,000. You do have to apply at this site and be
accepted, but it is worth checking this site out below:
http://www.womensbusinessgrants.com/
It may not seem like it, but our government does want you to
succeed, and that is why there is millions of dollars out there
for you. Most places have ridiculous requirements in order to
get a grant such as being over 65, being a minority, or even
having bad credit sometimes help the process.
There are sites out there that are specifically looking for
women only to give grants to. These sites are attempting to
help the women population succeed in entrepreneurialism and
begin the road to succession. The site listed just below here
has a list of about ten different sites that are specifically
looking for women to give grants to.
http://www.womanowned.com/Growing/Funding/Opportunities.aspx
There is no reason to get frustrated after not having any luck
finding loans. The government wants you to succeed in opening
your small business, or help develop it that much more. There
are a few sites listed above that are very much worth checking
out to help you find small business grants for women. Don’t get
discouraged as this can be time consuming, but once you find the
financial help needed, you will be on your way to developing
your business.
The Procurement
There are several things that are important about procurement that you should consider. In a business standpoint, timing is virtually essential. If you are like many business owners, the best time is the time when prices will be low enough to handle. This can be quite difficult to call and even more so, it will be difficult to manage. But, when procurement is used effectively, your business truly can reach new heights. What should you consider in procurement?
• You will want to consider the timing. If you take delivery of the product now, will you have to pay additional inventory costs? If you wait another week, will it be less likely to cost as much? This would be quite vital information in a large organization that is using procurement for large quantities of items.
• What about the cost? One of the most difficult things to call is pricing. Will it be lower today than it was yesterday? Or, will prices begin to rise soon? Knowing when to make your move is quite critical.
• Also, you’ll want to consider the procurement as in how much risk you are taking on. Companies that can not afford risk in finances shouldn’t look towards large, risking procurement options. Instead, a safer option is necessary. But, the opposite can be true as well.
• The bottom line in the procurement process is making decisions. In order for you to be effective at purchasing at the lowest prices at the right time, you need to be able to make a decision. Oftentimes people miss their chance because of the what ifs. In business, a what if will cost you big time.
Taking the time to analyze the procurement in order to determine whether or not it is a good move is up to you. You can find reasons to wait, of course, but if you are to get anywhere with the procurement, a decision to grab it and go with it has to be made as well.
• You will want to consider the timing. If you take delivery of the product now, will you have to pay additional inventory costs? If you wait another week, will it be less likely to cost as much? This would be quite vital information in a large organization that is using procurement for large quantities of items.
• What about the cost? One of the most difficult things to call is pricing. Will it be lower today than it was yesterday? Or, will prices begin to rise soon? Knowing when to make your move is quite critical.
• Also, you’ll want to consider the procurement as in how much risk you are taking on. Companies that can not afford risk in finances shouldn’t look towards large, risking procurement options. Instead, a safer option is necessary. But, the opposite can be true as well.
• The bottom line in the procurement process is making decisions. In order for you to be effective at purchasing at the lowest prices at the right time, you need to be able to make a decision. Oftentimes people miss their chance because of the what ifs. In business, a what if will cost you big time.
Taking the time to analyze the procurement in order to determine whether or not it is a good move is up to you. You can find reasons to wait, of course, but if you are to get anywhere with the procurement, a decision to grab it and go with it has to be made as well.
The One Key To Huge Online Success
If you’re at all human then you know how tempting it is to spend money as soon as you earn it. This is especially true with an online business.
How exactly can you avoid this common temptation and gain huge online success?
Or better yet you probably want to know: Why do I need to avoid doing this in order to have huge online success?
I know how it is when you receive your first online check. You get so excited, and the first thing you want to do is rush out and spend it.
There are things that you want to buy, things that you NEED to buy. Am I right?
Doing so will not lead to huge online success. Yet most people argue that they earned that money for the express purpose of spending it. So why shouldn’t they spend it?.
If you want huge online success, you’ll never get it with this attitude. There is only one thing I have to say to first time internet marketers:
What ever you do, DON'T spend that money!
If you do there won’t be a lot more where that came from, and without any more you’ll hardly be a “huge online success.” Once you spend that money it will be gone for good.
As internet marketing guru John Reese says: “You MUST sacrifice early profits to be a huge online success!”
Yup, sacrifice.
Thats a tough sounding word isn’t it?
Makes it sound heart rending and very painful, doesn't it?
Although it may sound hard at first to sacrifice those early checks, it will pay off in the end. Because if you do it will lead to huge online success.
It really becomes quite easy to sacrifice early profits once you think it about it in the right light.
Here is my secret to huge online success:
I pretend that I didn’t get any money. Now of course I know that I actually did get money.
What I mean by pretending is that I handle all finances, and purchases as if I hadn’t just received a check in the mail.
If I didn’t have enough money to buy something I really wanted before I got the check, then I certainly don’t now. This takes quite some will power of course, but is really necessary if you want to have huge online success.
The “Method” Behind My Madness
The reason for all this is that you are going to reinvest this money you’ve earned (whether the amount is $10 or $100) back into your online business.
A truly good investment for this money would be using it to actively promote or learn how best to promote your product or an affiliate product. This investment is a great step towards your huge online success.
At first you will want to reinvest all of the money you earn, but as your profits get bigger and bigger you will be able to reinvest only half of the amount.
Here are a few of the various ways you can use to promote your product or someone else’s that can lead to huge online success:
1. Purchase a high quality product or software that will teach you the information you need to know to market successfully. Believe me it will be well worth your money and bring you a long way toward huge online success.
2. Become an advertiser on google adwords or any other quality Pay Per Click (PPC) Search Engine like Overture.
3. Get your product (if it’s electronic) listed on Clickbank. This costs a one time start up fee for your sellers account, but is well worth it.
Trust me, if you reinvest all of the small paychecks you receive and part of later bigger ones, you will continue to rake in the money and become a huge online success.
Now don’t just go and forget this information either. Put it to use. Take action in boosting your online sales by taking this one step that almost always guarantees huge online success.
How exactly can you avoid this common temptation and gain huge online success?
Or better yet you probably want to know: Why do I need to avoid doing this in order to have huge online success?
I know how it is when you receive your first online check. You get so excited, and the first thing you want to do is rush out and spend it.
There are things that you want to buy, things that you NEED to buy. Am I right?
Doing so will not lead to huge online success. Yet most people argue that they earned that money for the express purpose of spending it. So why shouldn’t they spend it?.
If you want huge online success, you’ll never get it with this attitude. There is only one thing I have to say to first time internet marketers:
What ever you do, DON'T spend that money!
If you do there won’t be a lot more where that came from, and without any more you’ll hardly be a “huge online success.” Once you spend that money it will be gone for good.
As internet marketing guru John Reese says: “You MUST sacrifice early profits to be a huge online success!”
Yup, sacrifice.
Thats a tough sounding word isn’t it?
Makes it sound heart rending and very painful, doesn't it?
Although it may sound hard at first to sacrifice those early checks, it will pay off in the end. Because if you do it will lead to huge online success.
It really becomes quite easy to sacrifice early profits once you think it about it in the right light.
Here is my secret to huge online success:
I pretend that I didn’t get any money. Now of course I know that I actually did get money.
What I mean by pretending is that I handle all finances, and purchases as if I hadn’t just received a check in the mail.
If I didn’t have enough money to buy something I really wanted before I got the check, then I certainly don’t now. This takes quite some will power of course, but is really necessary if you want to have huge online success.
The “Method” Behind My Madness
The reason for all this is that you are going to reinvest this money you’ve earned (whether the amount is $10 or $100) back into your online business.
A truly good investment for this money would be using it to actively promote or learn how best to promote your product or an affiliate product. This investment is a great step towards your huge online success.
At first you will want to reinvest all of the money you earn, but as your profits get bigger and bigger you will be able to reinvest only half of the amount.
Here are a few of the various ways you can use to promote your product or someone else’s that can lead to huge online success:
1. Purchase a high quality product or software that will teach you the information you need to know to market successfully. Believe me it will be well worth your money and bring you a long way toward huge online success.
2. Become an advertiser on google adwords or any other quality Pay Per Click (PPC) Search Engine like Overture.
3. Get your product (if it’s electronic) listed on Clickbank. This costs a one time start up fee for your sellers account, but is well worth it.
Trust me, if you reinvest all of the small paychecks you receive and part of later bigger ones, you will continue to rake in the money and become a huge online success.
Now don’t just go and forget this information either. Put it to use. Take action in boosting your online sales by taking this one step that almost always guarantees huge online success.
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