About five years ago, I needed an additional $1500.00 in order to pay for all of deposits that I owed on new store that I was about to open. I thought about it a bit, and identified a niche in my community that no one else was targeting.

=> It was about three weeks before Memorial Day, 2000 a very patriotic holiday

=> I am a retired veteran of USAF

=> I am a member of VFW

One plus one plus one equals $1500.00.

What I did was to take an SMC eagle statue to my VFW post after contacting Quartermaster to get permission to solicit post. He welcomed me.

I ended up selling him 15 eagle statues at twice wholesale price. I was so emboldened by this bit of success, that I called every VFW and American Legion post in Anchorage to make appointments. I didn't get my foot into every door, but I still had most fun that I ever had, and earned all of $1500.00 that I needed in just a few hours.

Like I said, THINK OUTSIDE OF THE BOX.

3. Ignore anyone who is negative about what you are trying to do with your home business. Whiners and Snivellers never do anything but try to drag others down to their level in order to justify their miserable existance. Since they haven't figured out secret code, they want to make sure that someone else doesn't either.

Stay positive, have fun with your business, and be tenacious! Never give up because of a setback. Because, that is all it is. Setbacks are not failures, they are opportunities to learn and refine.

Thomas Edison screwed up a lot of blown glass bulbs before he finally figured out light bulb. He took tremendous amounts of notes concerning his failures and learned from each of them. You should do same thing in your business. Every time that you try a new tactic that doesn't work out, learn a lesson from it and apply it to next attempt. Eventually, light bulb will come on, and you will earn a profit.

Knowledge Management experts agree that tacit knowledge is most valuable type of knowledge to a company. Thus, value of most companies lies in their knowledge assets!

However, knowledge does not eliminate need for skill - knowledge must be backed by skillful application of that knowledge.

As a manager, your success depends on your ability to capture and manage those assets. Don't rely on random emails and documents. Instead, foster a culture of sharing knowledge.

One of best knowledge management systems you can implement is to develop operations manuals (before it is too late).

============================================================ Knowledge alone is not enough - it takes management support for employee satisfaction. ============================================================

A label has emerged for employees who are hired for what they know: "Knowledge Workers."

The management of knowledge workers boils down to a marketing application, where management asks question, "What do knowledge workers want from us?" Instead of, "What do we want from them?"

Most knowledge workers want management's support. And they derive job-satisfaction from using their special knowledge to solve problems and make a contribution.

"People have to see tremendous immediate benefit from knowledge management. They have to see, smell, touch and taste how it's going to improve their work lives. -- Barbara Saidel, CIO, Russell Reynolds Associates

============================================================ Questions to ponder ============================================================

As a manager, what "knowledge" are you more interested in - theories or how to apply them?

Why do you hire a knowledge worker?

What is your key resource today - m0ney or knowledge?

How could you use m0ney to leverage special knowledge? How could you use special knowledge to leverage m0ney?

As an employer, how much, (if any) of your employees' intellectual capital do you "own?"

What's more important - intellectual capital or its effective application?

What did you learn today that you found most beneficial? How will you apply what you have learned at work? Any other comments are welcome:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The brain is a wonderful organ. It starts working moment you get up in morning and does not stop until you get into office. -- Robert Frost ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Until next week...

Best Regards,

Mike Hayden, Principal/Consultant Your partner in streamlining business.

PS. If you're not on our P V T Roster, sign up (fr#e) at: http://www.SeniorManagementServices.com

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(c) 2005 Mike Hayden, All rights reserved. You may use material from Profitable Venture Tactics eZine in whole or in part, as long as you include complete attribution, including live website links and email link.

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