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Showing posts with the label entrepreneur

The future is blink

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 The future is blink Photo by Manoj Bisht It's never too late to plan for our future – all we need is a blank sheet of paper.  'We are walking backward into the future with our eyes firmly fixed on our past achievement'  Charles Handy To be able to understand the future more broadly we first need to understand the future better than the past.  As leaders, we should be focusing more than half of our time, energy, and wisdom on creating the future for our company, when it comes to the future, never confuse activity with progress.  We have to balance where we are now with where we want to be in the future, because comparison is the primary sin of modern life, it traps us in an unwinnable game of defining ourselves in terms of others, depriving us of the freedom to follow our self-directed path and to shape our own lives into a unique work of art.  This is not the end.  Be a clock builder [an architect – not a time teller] Embrace the 'Genius of the AND' P...

Your company's financial needs

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  Your company's financial needs are important more than you know Photo by Marcos Miranda The success of your company in your market against your competitors may depend primarily on creativity in research and development for example or on marketing acumen but then, so often getting the right people means paying the right money.  If you're starting a business, you're likely to be enthusiastic and optimistic about the future of your company. after all, how many successful companies have been started by pessimists?  But you should force yourself to be realistic when it comes to calculating your company's financial needs, follow this operating advice:  Estimate sales(Revenue) conservatively, any business will want to be able to weather any market downturns, both expected and unexpected.  Budget expenses generously, during the first few years of business. it's vital to monitor and control expenses because you're not likely to have much income to manage by budgeting g...

Before You Consult With An Attorney To Discuss Bankruptcy

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Before You Consult With An Attorney To Discuss Bankruptcy When times get really tough: The number of bankruptcies has increased dramatically over the past decade, there still is a stigma attached to it that makes future dealings with lenders, and creditors difficult at best. The day may come when cash flow becomes an issue that precipitates a business filing for bankruptcy, bad things do happen to good people, including honest and even successful companies and departments that have spun momentarily out of orbit – it could even happen to you. But before entrepreneurs start to jump ships, and call it quit, hand themselves to the authority or even hit flight-mode – they should ask themselves the following five questions : 1.      Have I done any best in negotiating with creditors and suppliers to become partners in helping me out of this crisis? Do they understand the severity of my situation? Have I done honest with them in terms of cash availability and paym...