Ralph Charell said “Avoid the crowd, do your thinking independently, be the chess player not the chess piece.”Would you prefer to?Be your own bossEscape 9-5Work for yourselfBe the chess player& Be the producer of products and provider of jobs.Well, it’s a fact that we spend nearly 35-40 years with 40-50 hours each week in a job. We live from paycheck to paycheck without much flexibility in terms of freedom and financial betterment and often our active status of a job brings cash flow to us.That is why it makes sense. Instead of living flat broke from paycheck to paycheck and without much freedom and flexibility why not invest your time and money to start a business of your own.Before we get ahead here is an important question:What holds people back from launching a business?Answer: Fear of failure in terms of financial loss and lack of courage to shoulder up the responsibility.These fears are valid because research by the U.S. Bureau of Labor Statistics shows that nearly six in ten businesses shut down within the first four years of operation. Another research indicated that 29% of new businesses never make it into their second year and 65% of businesses close their doors within the first 5 years. The ratio may vary from country to country but often failure percentage is quite higher.But contrary to the above research, there is another research that indicated that it takes 3-5 years for you to realize a decent profit from your business. People quit because they not persist longer and they blame market and other circumstances. It’s very surprising that more people want quick profits and are not willing to give the persistence test. And, in the process they lead themselves to the path of failure and frustration.Well, how do you begin your journey toward opening a business of your own? The following steps are foundational keys to business success:IDEA: The first step is an idea and your idea should not be completely new, it can be just an old idea with some little improvement. If you look businesses around you’ll find much to learn from them.Where to look for ideas?Russell Conwell said in his book ‘Acres of Diamond’ to look for ideas under your own feet, because it lies in your own industry, experience and background and many business experts have stamped Russell’s opinion with strong authenticity. You may also connect your experience in one industry with another industry to borrow the ideas or to create something entirely new for emerging consumers.What if someone is rejecting your idea?Frederick W. Smith who in 1962 came up with an idea for overnight delivery. He went to university professors for a feasibility study and they rejected his idea as they thought no one will pay more when U.S mail is available”. Despite of rejection he invested in his idea time and money and went on to become a hugely successful business tycoon.Capital:The second thing to start your own business is capital. It can be your own money or you may borrow. As usual it’s advised to start small and grow gradually. Note it down that: Google started its company with just few computers; Packard and Hewlett established Hewlett-Packard (HP) in Packard’s garage with a low initial capital investment and Walmart started by Sam Walton as a small store in Bentonville. Also not to forget the rags to riches story of Dhirubhai Ambani.Sales:Although after idea and capital there are certain other things that are important to start a business such as business consultancy, getting a license to start, determining business location, etc. but the ultimate thing is ‘SALES’. Business research consultants summarized their analysis and decades of research in two simple statements which are:Businesses succeeds because of high salesBusinesses fail because of low salesYour job as a business owner is to prioritize sales over all other activities.Conclusion:Consider that the market is becoming too competitive, unemployment rates will rise, recession and inflation is eating our money and having a running business will safeguard you. Think to give 3 years for testing a business possibility from 35-40 years of service so that you work on our own plans instead of your employers’ plans.David Rockefeller said “Success in business requires training and discipline and hard work. But if you’re not frightened by these things, the opportunities are just as great today as they ever were”.
Tag Archives: services
What Are The Greatest Changes In Shopping In Your Lifetime
What are the greatest changes in shopping in your lifetime? So asked my 9 year old grandson.
As I thought of the question the local Green Grocer came to mind. Because that is what the greatest change in shopping in my lifetime is.
That was the first place to start with the question of what are the greatest changes in shopping in your lifetime.
Our local green grocer was the most important change in shopping in my lifetime. Beside him was our butcher, a hairdresser and a chemist.
Looking back, we were well catered for as we had quite a few in our suburb. And yes, the greatest changes in shopping in my lifetime were with the small family owned businesses.
Entertainment While Shopping Has Changed
Buying butter was an entertainment in itself.
My sister and I often had to go to a favourite family grocer close by. We were always polite as we asked for a pound or two of butter and other small items.
Out came a big block of wet butter wrapped in grease-proof paper. Brought from the back of the shop, placed on a huge counter top and included two grooved pates.
That was a big change in our shopping in my lifetime… you don’t come across butter bashing nowadays.
Our old friendly Mr. Mahon with the moustache, would cut a square of butter. Lift it to another piece of greaseproof paper with his pates. On it went to the weighing scales, a bit sliced off or added here and there.
Our old grocer would then bash it with gusto, turning it over and over. Upside down and sideways it went, so that it had grooves from the pates, splashes going everywhere, including our faces.
My sister and I thought this was great fun and it always cracked us up. We loved it, as we loved Mahon’s, on the corner, our very favourite grocery shop.
Grocery Shopping
Further afield, we often had to go to another of my mother’s favourite, not so local, green grocer’s. Mr. McKessie, ( spelt phonetically) would take our list, gather the groceries and put them all in a big cardboard box.
And because we were good customers he always delivered them to our house free of charge. But he wasn’t nearly as much fun as old Mr. Mahon. Even so, he was a nice man.
All Things Fresh
So there were very many common services such as home deliveries like:
• Farm eggs
• Fresh vegetables
• Cow’s milk
• Freshly baked bread
• Coal for our open fires
Delivery Services
A man used to come to our house a couple of times a week with farm fresh eggs.
Another used to come every day with fresh vegetables, although my father loved growing his own.
Our milk, topped with beautiful cream, was delivered to our doorstep every single morning.
Unbelievably, come think of it now, our bread came to us in a huge van driven by our “bread-man” named Jerry who became a family friend.
My parents always invited Jerry and his wife to their parties, and there were many during the summer months. Kids and adults all thoroughly enjoyed these times. Alcohol was never included, my parents were teetotallers. Lemonade was a treat, with home made sandwiches and cakes.
The coal-man was another who delivered bags of coal for our open fires. I can still see his sooty face under his tweed cap but I can’t remember his name. We knew them all by name but most of them escape me now.
Mr. Higgins, a service man from the Hoover Company always came to our house to replace our old vacuum cleaner with an updated model.
Our insurance company even sent a man to collect the weekly premium.
People then only paid for their shopping with cash. This in itself has been a huge change in shopping in my lifetime.
In some department stores there was a system whereby the money from the cash registers was transported in a small cylinder on a moving wire track to the central office.
Some Of The Bigger Changes
Some of the bigger changes in shopping were the opening of supermarkets.
• Supermarkets replaced many individual smaller grocery shops. Cash and bank cheques have given way to credit and key cards.
• Internet shopping… the latest trend, but in many minds, doing more harm, to book shops.
• Not many written shopping lists, because mobile phones have taken over.
On a more optimistic note, I hear that book shops are popular again after a decline.
Personal Service Has Most Definitely Changed
So, no one really has to leave home, to purchase almost anything, technology makes it so easy to do online.
And we have a much bigger range of products now, to choose from, and credit cards have given us the greatest ease of payment.
We have longer shopping hours, and weekend shopping. But we have lost the personal service that we oldies had taken for granted and also appreciated.
Because of their frenetic lifestyles, I have heard people say they find shopping very stressful, that is grocery shopping. I’m sure it is when you have to dash home and cook dinner after a days work. I often think there has to be a better, less stressful way.
My mother had the best of both worlds, in the services she had at her disposal. With a full time job looking after 9 people, 7 children plus her and my dad, she was very lucky. Lucky too that she did not have 2 jobs.