Business Choices - New DirectionsWritten by Pauliina Roe
Admit it - your business may be suffering now in aftermath of recent tragedy. Not a surprise, really. Figure out what luxuries you can do without, and re-evaluate your business. What part of your business can you kick-start and make productive now? Concentrate on businesses that are now in demand - computers, telecommunications, insurance, health, safety, national pride - staples of what are needed for everyday life and business. These will remain businesses which will continue to make money. People need to depend on certain ideals, products and services. There will be more competition for travel services and certain types of entertainment - as people are avoiding travel more now - and your portion will go down significantly. Think of businesses which will survive, and ones you should shelve for now. This is not a good time for hotels, travel, certain forms of entertainment, catering, and such . These are all in dire straits right now. There are many services still needed and succeeding. If there are any support services you can offer - such as grief counseling, making patriotic symbols, giving hope, strength and courage in these times - these support type of offerings should do well. If you know of types of entertainment that are local, those can be promoted, as well - people still need fun and diversions in bad times. If you offer safety and protection, cell phones, filtering units, people and pet food, health and beauty supplies, and like, you should concentrate on those. People always depend on these through all types of times. If these offer residual income, all better.
| | THE FOUR THINGS YOU NEED TO SUCCEEDWritten by Josie Ash
Essentially, there are only four elements to being successful in a business, but these four are absolutely indispensable.1. Education. You may be able to start a business without knowing much about particular field you've entered, but you won't last for long haul if you don't learn everything you possibly can about it. Getting educated will require reading, attending classes and seminars, and doing research - on and off-line. Not only do you need to learn everything you can about your particular industry, but you need to stay current in it, as well. This need for education extends to anyone who works with or for you, too. Training is an essential component of whatever you have to offer an employee. With most industries changing at speed of light, you can never be 'too' knowledgeable in your area of expertise - and everything you know about it may give you an edge over your competition. 2. Technology. You must have all tools you need to succeed. Very few businesses can make it on 'brawn' or even 'brain' anymore. It is essential that you take full advantage of whatever technology is available to you today because if you don't, you can be assured that your competition will. And again, it will be vitally important to keep abreast of any changes in that technology, too, and be prepared to upgrade as you go. 3. Positive Cash Flow. This is, of course, one thing that everyone gripes about, worries about, and loses sleep over - and many people who are in business don't even know for sure what it means. Put simply, having a positive cash flow means that you have more money coming in than you have going out - not necessarily on any given day, but generally, over a month's time or even a year.
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