Thursday, September 30, 2010

Trust used to be the keystone in business. Deals were closed with a handshake...nowadays with a thick contract and a few attorneys!!

Business has drastically changed since the beginning of the 20th century!
In the past, business was done in such a way that people would mutually agree and would shake hands. That was a done deal! It was quick and efficient. the tradition of closing a deal with a hand shake has nearly disappeared. Only some cow traders still close deals that way. They would agree on a price, and would shake hand. The deal is closed and both parties know their agreement will be respected..
The main reasons of the change is that people have become less and less trustful in their business partners. The other aspect is that money has become so important that business is done with less ethics and integrity. The shift in the way of doing business has had a positive effect for attorney's. They are the ones who take advantage of the situation. They are the ones who generate tons of paperwork!
Business is getting more and more complicated as more and more people are involved.
What's the point of signing contracts that no one can understand them?
What's the point of signing contracts that will not be respected?

Let's bring trust back in business!!

Wednesday, September 29, 2010

Entrepreneurship is like spinning plates on a stick. No time for rest, you have to keep them spinning!!

Entrepreneurship is not for everyone. All starts from an idea! But the way to the market is still so long...
You will need to take several aspects into consideration like: marketing, finances, logistic, legal, human resources, production, etc...
An entrepreneur does not have to be a specialist in all area's but certainly need a good understanding in order to start his venture. All those aspects are linked to each others like a mechanism. If one does not work, it will have an effect on others.
Entrepreneurship is to make sure that all runs smoothly, from the idea till the implementation.
It is a on going process that never stops. The entrepreneur will have to keep an eye on literally everything in order to make sure the project comes to reality. And when the idea is marketed, the story does not stop, it just begins!!
Like on the drawing, an entrepreneur is a showman is able to combine many tasks making sure the process never stops. Entrepreneurship is top sport!!

Wednesday, September 22, 2010

A business deal is like a central square in a capital city. There is more than one avenue leading to it!!

Imagine a business deal looking like the "Arc de Triomphe" in Paris. This massive monument is localize in the middle of a famous central square, "La Place de l'Etoile". There are 12 avenues leading to that square.
When negotiating a business deal, your aim is to come to an final agreement. Your business partner expects the same. Nonetheless he might want to reach the deal in different way as you.
Does that matter?
You are convinced your way is the best and he too is convinced his is the best. Ultimately, what counts is that you both meet each otter at the central square.
So, although you may think your option is the best, take also into consideration other options that lead to the final agreement.
What's important is the result!!

Tuesday, September 21, 2010

Look into your business partner's eyes, observe his body language. Then you'll find out who is hidden behind the mask!!

What is communication?
We may think that verbal communication is the answer. Communication is also and mostly non-verbal.
Think about body language. Someone's attitude and gestures can tell even more than words.
Words are commended by the brain, whereas the body language is driven by emotions, it is an unconscious process. In our education, we have been told to think before talking.
We have been trained to control our verbal communication. Nonetheless, there are some well trained people who can control both the verbal and non-verbal communication.
Although your business partner tries to hide himself behind a mask, you still can look into his eyes.
Both the way he looks at you, his eyes movement, and his gesture in general will tell you a lot about the real person behind the mask.
When talking to someone, it is crucial to learn from observing the person who talks to you.
Go behind the words in decoding someone's body language. Then you will be able to see the real one you have in front of you!!

Monday, September 20, 2010

Doing business with no vision is like walking with a blindfold on!!

We are born with two eyes!! So we should use them in a proper way...
Doing business is not an easy activity. Vision enables business people to plan and anticipate what business will be in months or years time.
Bill Gates is a good example. He is the one who, in the 80's, started a company developing computer software. He was a man with a vision as he could foresee how the market would evolve. He was so talented that he could foresee that every family would use a personal computer.
Luckily for him he had no blindfold on as he never would have built up such an empire. 
So open your eyes and try to see further than the few meters in front of you....

Friday, September 17, 2010

It’s hard to innovate, it’s easy to imitate!!

It takes years of hard work to think a new product or concept. It does not take too long to knock off that product or concept.
Unfortunately, the majority of people doing business are not creative at all and spend their time in copying ideas from others. And when those people have money, they even become more successful than the creator himself...
Business is getting more and more challenging. When you start innovating, it is difficult to stop as you always need to be ahead from the competitors.
The reality of business is that there is a place for the innovators and for imitators.
Most of the time, inventors are no businessmen. The challenge is to bundle innovative ideas with  business vision. That way, innovators will always be a step ahead...

Being talented is a free gift, becoming successful is a costly hard work!!

We all have some talents. The challenge is to identify them and use them in a proper way.
Like in sport, we all need to develop our talents. It is demanding but without hard work, it will be difficult to reach our goals.
Successful people are the ones who identified their talents, developed them in working hard with discipline.
So the gift you got should not be put in a draw. Do something with it and you will be rewarded!!

Business is not a rocket science ... it 's just a matter of common sense!!

What is business?
It is selling a product or a service and get paid for that. 
We all make business more difficult than it should be. By sticking to the essence of business, all becomes easier and more pleasant. No need to be an Einstein to understand the simple rules of doing business.
The challenge is that business is done by people and their ego's!

Learning by doing is the best business school!!

It is known that there is a gap between theory and practice.
People who spent years learning from books have collected an enormous amount of information. But are all those informations useful?
Frequently, the literature used is old and does not match the reality of business. On the other side, teachers are used to teach in a more traditional way and have difficulties adapting themselves to the business of today. Therefore the theory is far from the practice.
Business happens on the field! Nowadays, the main challenge in companies is that strategic decisions are
made by people who never worked on the field. They expect the opertational people to put in practice their theory.
If you have never sold a product yourself, how can you tell your sales people how to sell it?

Thursday, September 16, 2010

Don’t spend too much time looking back at the deals you lost. Look forward to the ones still to be won!!

Although it is important and constructive to understand why you lost a deal, why spending too much time on what is history. Why not focus on what you can achieved instead?
By sticking to the past, you may never find the answers to your questions. Avoid to built-up frustration, accept the loss and concentrate to the win still to come.
History is a fact and can't be changed. The future is still open. That's the opportunity you should focus on!!