|
|
|
Beyond Budgeting: A New Approach to Annual Budgets
In their book, Beyond Budgeting, Jeremy Hope and Robin Fraser
highlight the inadequacy of traditional annual based budgeting
and argue passionately for a new management model that can cope
with the volatility of today's business environment....
DANCE ON YOUR BRAIN TONIGHT FOR A BETTER TOMORROW
Mark Twain once said, “You have to take your brain out and dance on it.” In other words, you need to give your mind some downtime tonight, if you want to have a more productive tomorrow. With that said are you a person who spends weekends and...
OIL DEMAND and the effects on the Global Stock Market
HOOKED ON CRUDE OIL, THE REAL STORY.
Without oil, the world shuts down. We burn through 27 Billion
barrels per year. Even 90% of the chemicals we use for farming,
making drugs and making plastics... all come from oil. It's a
habit we can't...
Print and Modern thought
The scientific revolution that would later challenge the entrenched "truths" espoused by the Church was also largely a consequence of print technology. The scientific principle of repeatability--the impartial verification of experimental results--...
The Advantages of Having a Home Business
The most evident advantage of having a home business is that you can be more involved in your family life. I'm not just talking about stay at home Moms. A good deal of the time, the man is the main breadwinner. Often he is away from home most of...
|
|
| |
|
|
|
|
|
|
Be a PEST. Make money.
Be a PEST. Make money.
Written by Aaron Colman
info@ibasics.biz
http://www.ibasics.biz
You can't help but turn on the TV these days and hear about some new technology or development. Entire businesses are born and die on the basis of a single trend.
Most small business have missed the crucial lesson of watching trends.
Remember the following Acronym: PEST
1. Political. Never underestimate the power of politics to mess up your business. Statistics show that the stock market undergoes a reversal following a major Presidential election. There's an entire investment strategy called "Presidential Cycle Dollar Cost Averaging" based on following politics.
Think that's it? Think again. War effects the price of hundreds of commodities. Trade agreements effect the buying power of our money. Changes in laws effect everything from business creation to new product development, marketing and everything in between.
2. Economic. If you had started buying dot.com stock short back at the start of the fall a few years ago, you could've retired early. Of course you can never predict these kind of dream situations, but you can predict certain trends.
A close friend of mine lost his job as a programmer when it was shipped overseas. Today he works as an "outsource re-integration engineer" helping companies integrate and overcome the problems of outsourced software. Shipping jobs overseas has become an economic reality for many people. But a few smart people have learned to take advantage of this situation to make money and start a new business. The power of distributed work projects can be seen on any freelance site you find.
3. Social. When people get used to an idea, it becomes a powerful business model. It takes nothing more than a quick glance in the newspaper to see how some movies
spawn an entire cottage industry. Even years from now there will be a tremendous market for fan-based creations based on hits like The Matrix and The Lord of the Rings. How many times, in the last month, have you heard about "low carb" diets? Think anyone is making money there? Oh yea.
4. Technology. Ignore technology at your own peril. Whether it's legal or not technology will make you obsolete if you ignore it. Take one look at the recording industry. They're holding on for dear life... and it's getting worse and worse for them as wireless broadband and smaller computers make sharing files easier and easier. If you did a poll of teenagers today, how many of them do you think would tell you that it was wrong for them to share files? Percentage wise... not very many, right? These are the same people that will be making the laws for the next generation. Once a business model is obsolete, it's dead. Horse and Buggy makers don't bring in a lot of money, but automobiles are a multi-billion dollar industry.
Conclusion:
Make it a point, from this day forward, the actively stay on top of business developments. Read magazines, check out news sites, and read articles like this. Always keeping in mind the PEST method. By watching new trends you'll not only keep your business from being blindsided by something new, you'll also be able to stay on the profitable side of the cutting edge without bleeding to death in the process.
------------------------------------------
Aaron Colman, helping business make money online.
Web design, custom PHP scripts, MySQL databases and more.
Free e-Course:
Mastering Internet Lead Generation
http://www.ibasics.biz/leads
------------------------------------------
About the Author
Aaron has been doing this web stuff since '95 back in the days of Gopher yore.
|
|
|
|
|
|