Many entrepreneurs make three crucial mistakes at the outset. They do not pay sufficient attention to customers’ preferences; they ignore their competition because their product thrill them, and third, they neglect to follow their business strategy. Indeed, some have no strategy.
Budgeting Like Dieting Doesn’t Work, Here is an Alternative
Budgeting, like dieting, doesn’t work because folks don’t embed it in their lifestyles. Usually, it’s a chore that a finance person recommends. Is there a better alternative to achieve the goals of budgeting? Most people spend and then try to save what is left, usually, not much, if any. Take Warren Buffet’s advice, “Do not […]
Corporate Welfare Destroys Jobs Long Term
General Motors’ notice to shutter several plants reminds us that corporate welfare does not produce long-term sustainable businesses. It’s a band-aid and a colossal waste of taxpayers’ funds. Government could apply those funds to help retrain workers, assist them to find new jobs, and minimize loss of income during the transition to their new situations. […]
Budget Remaining At Year-End Available Only To Complete The Goal
Budget remaining at year-end? What happens then? First, understand what a budget isn’t. It is not a bucket to accumulate funds for various activities. Neither is it a straitjacket, nor a scheme to show what we can’t do. A budget is a highly directed tool designed to achieve specific goals. It is our best estimate […]
Counter-Intuitive Strategies Can Yield High Margins While Being Attentive To Customers’ Needs
A counter-intuitive strategy results in enhanced sales and high margins, often because people are willing to pay a premium for normal, regular goods and services. In his book Predictably Irrational, professor, author Dan Ariely provides experiments to show people’s irrational behavior as they spend. Ariely says most people don’t know what they want unless they […]
Why Public Corporations Delist Shares From Stock Markets and Become Private
Why do some public corporations choose to be private and delist their shares from stock exchanges? On Oct. 29, 2013, Dell announced that Michael Dell, founder and CEO, and Silver Lake Partners, a leading global technology firm completed acquisition of Dell’s outstanding shares. Michael Dell said he can focus on building the company, ”Not the […]
Ocasio-Cortez Newfound Hope of the Democratic Party Might Be A Handicap
Ocasio-Cortez seems to be the newfound hope of the Democratic Party—a party desperately clutching to anything that might appeal to a naive electorate. If it continues its wayward path, it will guarantee Trump’s reelection, if he isn’t removed from office before by one of the many potentially damaging issues surrounding him. Interestingly, rising star Ocasio-Cortez […]
Workers Need Right to Work Laws: Supreme Court Decision is Needed Catalysis
Employees in North America need universal right to work laws. No one should be forced to pay union “dues” if he or she does not wish to be part of a union. Hopefully, the recent United States Supreme Court’s decision might be the tipping point that encourages more states to introduce such laws. The Court’s […]
Moving From Time Management to Self-management is Crucial to Become More Productive
Moving from time management to self-management is crucial to become more productive. Particularly since time is our most precious resource. It’s fixed, doesn’t discriminate—available equally to all—isn’t influenced by anyone, yet most people complain about it. Either they “don’t have enough,” so they “run out,” or they are “too busy” to do what they need […]
Donald Trump’s Trade War Will Create Extensive Direct And Collateral Damage
Donald Trump’s trade war has erupted! He thinks “trade wars are good and easy to win.” But the expected negative outcomes might surprise him. The United States (US) fired the first salvo with tariffs on steel imports. China countered with duties on several items, and the European Union (EU) warned it would retaliate if not […]