Why you should listen to Heart over Brain while making business decisions!

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You do need someone to warn you from dangers in business

Call it inertia, call it ignorance or stubbornness, we tend to get caught in our own illusionary perspective of what is a safe business environment and who are trustworthy and dependable people in your domain. You got to acknowledge the fleeting and dynamic nature of relationship in business environment. You got to be aware of the powerful external influences which can alter the perspective and behavior of business stakeholders without you notice or without warning. You have to be conscious, attentive and adaptive to the ever changing business and corporate landscape. No point complaining. Just intuition is not enough; you might need someone or few trustworthy people around you who can validate your intuition. 

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Its solution, which you were looking for…

He was lost and he lost.

He was confused, lost, caught in the process; he was so much into the process that he forgot the purpose, lost the track of time. He did not know the purpose, he didn’t ask for propose, he had a task given and time ample, he didn’t bothered. When he realized it was too late, and they shouted and they blamed. He listened and he promised but he did same again.  

This is a common story of any person who is trying to earn livelihood, in majority of cases and at many occasions. We often lose the focus, the purpose. Purpose is to find out solution, whether its business, a project, a client’s requirement or a question staring right into your eyes. Solution is, what you were looking for, there are many choices to make many ways to define, many ways to solve the same question.  A war can be fought in a battlefield, with thousands of lives at stake or same can be resolved in a secret meeting room by signing a peace agreement. It’s not about how we do it; it’s about what we want. Solution. And there are ways and means to arrive at solution, at work place and in business and at home in much more peaceful, effortless, economic and pleasing ways.   

You know, you will win.

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How to manage Business risk

Take calculated risk

Never put all your eggs in one basket

Have a functional back up plan ready

Assess vulnerability of your business plan on different parameters and varied possible future scenarios

Keep a flexible business mindset to quickly negotiate changing business dynamics

Don't regret on mistakes made, learn from mistakes, change the strategies and move forward

Maintain professionalism in in your work even if you are doing business with friends,

Always keep few alternate revenue sources or prospects around your business, it will give you hope and boost your moral when business in down.

Always be prepared to materialize approaching business opportunity

Learn how to materialise every Business Opportunity which comes your way in the following post - http://fromthediaryofmentor.blogspot.in/2012/02/never-miss-business-opportunity-again.html

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Business setbacks as measurement scale.

Setbacks are part and parcel of business dynamics, sometimes business has high growth momentum, at times its all time low . What is business without a little bit of thrill. Setback is the measurement of how much risk you take in business, its part of business thrill. If you didn't ever have setback probably you didn't take enough risk. Come out of your comfort zone and have courage to take risk. Calculate the risk, have a backup plan and go ahead. You can't wait till business plan is 100 percent perfect; otherwise you will be too late in the market. 

Learn what to do when things go wrong in Business here – http://fromthediaryofmentor.blogspot.in/2012/02/what-to-do-when-things-go-wrong-in.html

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Rock bottom price strategy for startups

Do you really need to buy those fancy stuffs for your business?

Know when is the right time to buy and from where to buy

Attend auctions to get stuffs at rock bottom prices during down time

Make business out of your existing business byproduct

Create a network of information channel

Keep track of your expenditure

Optimise your budget, review it, optimise it once again to arrive at realistic needs

Bootstrapping wherever possible 

Learn to operate with minimums financial resources in business career at least once - for experience sake 

Learn to negotiate well.

Learn How to leverage your business in 7 easy ways in the following article- http://fromthediaryofmentor.blogspot.in/2012/02/how-to-leverage-your-business-in-7-easy.html

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The most crucial period on business timeline

Every Business has a growth timeline and it witnesses many ups and downs as well as achieved milestones on its growth trajectory, but one of the most important time period in its growth timeline is the time when business expands- "scaling up business". Expanding and taking business to the next stage is a volatile time period unless perceived and planned beforehand. Its the time when many individuals at middle management level gets involved in a business which was originally started by one or few enthusiastic entrepreneur with few helping hands at bottom level of business.

In business or corporate arena it is said that "one should hire smarter people "  but at times in course of business expansion, business owners feel little threatened  by the pool of smart middle management which they just hired, it becomes little difficult for the owner to handle sudden growth in number of employee. Founder entrepreneurs can't do every work on their own, they should learn to develop trust in its employees and should focus on most important aspect of business development, finance and macro management.

Entrepreneur should develop a company culture from the get go to encourage and develop trust of employees in the vision of company keeping inevitable future expansion of the business.

Business expansion demands thoughtful consideration of acquisition, merger and partnerships. Learn what precautions need to be taken while forming partnership with friends and close associates in the next article - http://fromthediaryofmentor.blogspot.in/2012/02/what-precautions-needed-to-form.html

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What to do when things go wrong in business

What If the delivered batch of product had manufacturing fault?

Anybody's product can be faulty, so can be yours.

Take prompt action to replace all the faulty products free of cost

What you will get in return is "honest brand image" and "word of mouth publicity"

You will learn in detail how to manage business risk in the following article - http://fromthediaryofmentor.blogspot.in/2012/03/how-to-manage-business-risk.html

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