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10 Things To Do When Business Slows Down Over The Holidays
I’m sure you’ve seen it happen every year: your business slows down during predictable times, like the summer vacation months or year-end holidays. For the self-employed who rely upon steady cash flow, this can be a disconcerting time. Should...
Employee Motivation - Get The Basics Right First
To motivate your people, it is vital that you start off with understanding that there are some things that need to be fixed first, before you can get on with the above the line actions which develop a strong and engaged culture. There are eight ...
If You Can’t See It, They Won’t Do It
Recently, while developing a customer service program, I asked my client to provide me with detailed descriptions of behaviors he wanted his team members to engage in. He called me back a short time later and told me that his department heads...
The Defining Moment: The Straw That Stirs The Drink Of Motivational Leadership (Part Two)
PERMISSION TO REPUBLISH: This article may be republished in newsletters and on web sites provided attribution is provided to the author, and it appears with the included copyright, resource box and live web site link. Email notice of intent to...
The Three Factors Of Leadership Motivation
========================================Three Factors Of Leadership Motivation by Brent Filson Leaders do nothing more important than get results. But you can't get results by yourself. You need others to help you do it. And the best way to have...
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The Desire For Money, Do You Have Business Sense?
For those of us who grew up with parents who worked for businesses rather than owned them, the world of business can be quite a mystery. Even more so if we've dared to try to start one of our own. There is the factor of what type of business to start - a product or service business. There are the issues of doing a good market analysis, licensing the business, understanding the codes of law governing businesses, and determining just what type of business structure to choose - especially if the business will have employees. For example, should we start a sole proprietorship or a corporate business? It's a lot to work on, and it's not an overnight process to the road of success. But, the most crucial challenge to whether a business succeeds or fails lies deep within the realm of emotional versus financial intelligence.
Many start-up businesses fail within the first year of existence. This is especially so with businesses started from home, or exist without the traditional bricks and mortar structure we are so accustomed to. And, far too often the reason many start-up businesses fail has to do with the emotional challenge the new business owner faces. The challenge of seeing him or her self now as a business owner, rather than a paid worker for someone else's business. It means dressing differently, thinking differently, and talking differently. It means believing that you are already successfully established even if you have a long ways to go on the business's balance sheet. To put simply, if the business owner doesn't have a firm belief and commitment in the business and his or her role as the owner, then others simply won't be convinced that this business is the place to get what they need.
Then, there is the crucial issue of having the financial intelligence to keep the business going in the direction the new owner desires. To put it simply, if the new business is only taking money to operate and not making money, it won't be long before the doors of opportunity become closed. No matter how much motivational self-talk and emotional pump-me-up the new business owner does, it is the results shown on the bottom line that determines the future of the new business. And, if the bottom line is steady generating a negative, the business will eventually lose. Far too many new business owner simply don't understand this simple fact and it's incredible impact upon the future of his or her business. And, far too many system based business endeavors, such as network marketing, fail to properly focus the majority of their teaching on this.
To keep the vision, motivation, commitment and, ultimately, the business alive, a start-up business owner must simply know the ins and outs of basic business accounting. The more he or she comprehends the principles of good financial management, the greater the chance of achieving the desired goals for the business. It is, ultimately, the financial bottom line the determines whether a business owner maintains the belief and dreams associated to his or her business. The financial bottom line determines just how much commitment to marketing
and advertising the principal staff of the business will willing give. It's very encourage able to develop a love for numbers, especially when working with the basic additions, subtractions, multiplications, and divisions of the financial budget. Here's a recommended source to spur this number love: http://www.jtsef.com/financial.htm .
Many schools of thought teach that marketing and advertising is the key to success in any business. To their credit, there is a certain truth to this, because the market is a numbers game. The greater the numbers of people that know about the owner's business, it's products or services, the greater the chances of getting the sale. Understanding the numbers allows us to measure where we are and where we want to go. But, regardless how successful the new business owner is with marketing and advertising his or her business, no amount of business exposure alone can guarantee the success of the business. There are big businesses that are testimonies to this fact with their sudden bankruptcies at the time they seem to be at their greatest.
Ultimately, the deciding factor on whether a business succeeds or fails lies in the level of knowledge and expertise that the principle players of a business have with the business balance sheet. This level of knowledge also determines just how much belief the business owner has in his or her business, and how willing he or she is to make the necessary efforts and adjustments that steadily drive a business up to the road of success. And, once reaching this point where the customers and clients are knocking at the door and the money is rolling in, it is the degree of financial intelligence that will ultimately determine whether the business stays in business or not. And, no amount of motivational self-talk or marketing is likely to change this simple reality.
What this means for those who are just starting a business or are struggling to keep a business idea alive, is that it is imperative to develop a deep appreciation - if not love - for numbers and how these numbers play out on the business balance sheet. If the business is progressing in a positive way financially, the rest of the aspects to running a business will fill itself in over time. Isn't it a lot easier to learn the ends and outs of operating a successful business venture and maintaining the commitment and motivation to the business vision when the business is steadily in a financial growth? Something to seriously think about. Especially, if owning a business is an appealing idea, but is equally as much a mystery to the aspiring entrepreneur. The key to success ultimately is determined by the plusses and negatives found in the business's balance sheet. And, a focus on this will dispel many of the mysteries and emotional challenges to owning a business.
About the Author
Joseph T Farkasdi is the President of JtseF, Inc. and is a member of the Financial Freedom Society. He is an entrepreneur who is committed to helping others achieve the financial lifestyle they desire. For more information, visit http://www.jtsef.com/financial.htm .
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| Motivation - Wikipedia, the free encyclopedia |
| Article giving an overview of the concept. Includes history, information on human psychological drives, and applications in business and education. |
| en.wikipedia.org |
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| Motivation 123. Motivation Techniques & Tips for Your Happiness ... |
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| www.motivation123.com |
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| Motivation - the international disability charity Motivation |
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| www.motivation.org.uk |
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| Motivation |
| Goal Setting is extremely important to motivation and success. So what motivates you? Why are you in college? If you are in college because that's what your ... |
| www.d.umn.edu |
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| Employee motivation. Motivation in the workplace- theory and practice |
| Employee motivation in the workplace article. This article focus on aspects of employee motivation, theory and practice as applied to in the workplace and ... |
| www.accel-team.com |
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| Motivation Point. Motivation Advice for Your Achievement and Success |
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| getmotivation.com |
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| The Motivation Tool Chest |
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| www.motivation-tools.com |
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| Seven Rules of Motivation |
| Set a major goal, but follow a path. The path has mini goals that goes in many directions. When you learn to succeed at mini goals, you will be motivated to ... |
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| Motivation |
| MOTIVATION CHECKLIST. The following checklist may prove helpful in getting at the ... If you want to improve your motivation you may want to choose a ... |
| www.ucc.vt.edu |
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| GENERAL PRINCIPLES OF MOTIVATION |
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| honolulu.hawaii.edu |
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| TIP: Concepts |
| Weiner (1990) points out that behavioral theories tended to focus on extrinsic motivation (i.e., rewards) while cognitive theories deal with intrinsic ... |
| tip.psychology.org |
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| Motivational Quotes, Motivational Quotations, motivation quotes ... |
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| Motivation & Inspiration from The Daily Motivator® |
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| greatday.com |
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| Pages tagged with "motivation" on del.icio.us |
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| Mental Help Net - Psychological Self-Tools - Online Self-Help Book ... |
| Methods For Changing Your Identity and Your Motivations ... There are two types of animal motivation: the motivation to approach something, ... |
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| Teambuilding Inc. Article - Team Motivation |
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| www.teambuildinginc.com |
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| Learning Skills Program - Increasing Motivation |
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