THE ONE PERCENT SOLUTION!Written by Philip E. Humbert
Many years ago, someone told me that key to success is not doing something big or spectacular, but doing little things extraordinarily well. When we think of Olympic athletes, it's tempting to pretend that they are somehow "different". We tell ourselves they were born with incredible strength or unusual talent, or had training that we could never get for ourselves. We look at Michael Jordon in sports, or we compare ourselves to Barbra Streisand as an entertainer, and say, "I could never do that." While there is truth in acknowledging their incredible talent, there is also a lie in pretending that because we don't have their genetic gifts, we are somehow excused from necessity of doing our best. That is simply not true! The vast majority of highly successful people, in any area of life, are simply those who worked a bit harder, stayed a bit longer, and did a bit more. The highest paid people in any industry earn many times more than average income. Is that because they are 100 times smarter? Are they 50 times more ambitious? Do they work 20 times harder or do they have more hours in a day? Of course not!
| | Stop Spinning Your Tires and Grow Your BusinessWritten by June Campbell
Does operating your business these days remind you of spinning your tires? Are you generating a lot of activity but not moving forward? Believe it or not, this could be a good sign. It could mean that you are ready to move from one stage of business growth to next.Experts identify three main stages of business growth. The Startup Phase is time when you get your business up and running, locate customers, make sales and essentially, try to get money coming in. Typically, at this point, you are an Owner/Operator. The next stage is Early Stage Expansion. In this phase, your business experiences "growing pains" similar to ones I will discuss below. In third stage, your business moves from Owner Operated into Management. In other words, your function is that of manager.You are no longer involved in day to day operation of running business or of producing product or service. Experts claim that only a minority of small businesses move into third phase. Therefore, today's article will address ways of managing growth as you move from Startup into Stage Two. You know its time to look for ways to manage growth if any of following apply: 1.You have steady income and regular sales but you are working too hard. You are investing "sweat equity". You know that if you continue working at that speed, you will burn out, lose productivity or worse -- become ill. It is time to find a way to increase growth while working less. 2.You are running into cash flow problems. Often, cash flow problems are caused by need to invest in inventory or in product development, or to cover payroll. However, while money is being spent on above items, payment for sales is delayed until product is developed, delivered and invoiced. That is, you have capital assets (equipment, inventory), but cash is flowing out faster than it is flowing in. In this situation, you will need to find a way to manage by generating an influx of cash while continuing to develop your products or services.
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