IMPORTANCE OF SELF-DISCIPLINE IN BUSINESS

Self discipline in business? That most sound ridiculous, well without self-disciple and self control in business, no success is possible. This is because  the achievement of business success demands high levels of discipline from you in every area of you business  activity. This was why John Viney said, “the quality of self denial in the pursuit of a longer term goal and indeed, the will power to maintain that level of self denial, is an excellent training  for the boardroom".   There is never enough  customers for you to sell everything you want to sell. There are never enough  sales revenues to help you achieve all you financial goals. There are never sufficient profit to enable you to expand as much as you want.

You must discipline yourself to understand that the customer  is always right. No matter how your product or service is, weather it was gotten from future or  Venus. Its nonsense  if customers does not like it. Let you see business people who are unhappy with their level of sales and profitability. To know if your product or service  is truly  attractive or valuable if people buy it willingly-and then buy it again and tell friends to buy as well.

According  to expert, fully 70% of your business decisions will turn out to be wrong in fullness of time. You must face the possibility that you could be wrong in your most cherished assumptions and beliefs.

All business investment, ventures enterprise and start ups require a high level of optimism. You must believe in the future of your business along with you new products and services.

Have so much confidence in their marketability that you are willing to undertake financial risks and in rest many hours weeks and even year to achieve your business goal.

Your need self-discipline to curb your  confidence, to remain objective and realistic. Overconfidence in business leads to business mistakes, financial losses and worst bankruptcy.

To survive in the business world war arena of competition discipline yourself to be equal to or better than your competitors. After all they have sleepless nights think of how to get you out of business. So knock them out before they do. You must out-think them.  The discipline of advance planning can spell the difference between success and failure.

Try not to make errant assumptions. As peter Drucker said, “Errant Assumptions lies at the root of every failure” Business fail because executive rely on assumptions that are not tested. They assume that since their products can create the universe, then it must be bough heavily. They forget that the sole purpose of business is to please its customers and at the end the come ranting that they put in trillions in adverts, best product in Mars  which your can find even on earth. Well understand that the complaining customer is also part of the business, love them because they see the flaws you never saw. They hold the keys to put your competitors out of business. I guess I have to stop here for today.

Thanks for reading and I welcome you again on my next blog. For now I need some hamburger, will you get some for me? Oh, never mind OK!

Small Business

According  to  inc. magazine, “small business and medium sized business are growing as never before. They are the sector that is creating the new ideas, the new products the new jobs and the profits that are fueling our economic recovery.”

Before we get  on the word “small business” should be defined, perhaps you have been asking ; what is small business?

A small business in the definition of SBA (Small Business Administration) is any business that:

• Manufactures with up to 1, 500 employees.
• Wholesale establishment with up to 500 employees with annual sales of up to $25million.
• Retail firm with yearly sales of up to $13million.
• Service companies with annual revenues of not more  than $14.5 million.

Well the above probably scared you, didn't it? Personally I do not like phrase small business, if you read the opening paragraph  you will see that small business is not actually small.How the hell will I employ over 1500 worker as a starter. Does folks who started the above most be dreaming when they said that. A business must never be small in the eyes of who started it, irrespective of what the SBA’s termed small business. Small business are not small since the contribute 40% of gross national product (GNP) and over 60% of the national work  force  is employed by small business.

Also every business was once small. Seeds are small but have the potentials of producing a large harvest.

Today’s home-based business has the potential of becoming tomorrow’s giant corporate conglomerate.

Personally I would rather be define small business small business could be define as:

1.  Any business independently owned and operated business of up to 30 or fewer employees.

2,  It could be a part-time business operated from home.

3.  A company started with comparatively limited capital out lay.

4.  It will be a venture that fall into manufacturing wholesaling, retailing and service.

Does this last paragraph above define your business? If it does hit the like button. Have a nice day ahead.

Female Entrepreneurs

Anne Beiler

Anne Beiler, founder of Auntie Anne’s soft pretzels, was raised in an Amish-Mennonite family, her first text of  entrepreneur came  at age 12  when she baked pies and cakes for her family to sell at are farmers’ markets.
This is not a story article or blog. It was written to give insight. So get wisdom and add to your own business.
At 19, Anne married Jonas Beiler but not until July 1987 while walking as a waitress    in Pennsylvania where Anne managed a Maryland snack food booth on weekends. This was where Anne carried to twist hand- rolled soft pretzels.
I told you before and s till want to hammer on it again  it is not a must that you must come up with an invention or a ground breaking idea before you know  you are and entrepreneurial
A little twist on previous ideas can lift you up
Within less than a year Anne purchased a similar both, sight unseen in Downingtown, Pennsylvania. Where she sold Pizza, Ice cream and soft pretzels, all of which you are going to buy for me at the end of this post if you don’t want me to salivate to death. Yet Anne customer wanted pretzels most along with hand-squeezed lemonade were her only products. Please add the later items to list of what you will buy for me at the end of this post if you love me.
Now after she had refined the pretzel recipe to her own taste and selling as many as she could make “Auntie Anne’s Soft pretzels” was born.