Most active members
Group Management
Sponsored links
Small Business Owners
Own a Small Business? Want to own a Small Business? Want to expand, reduce, sell or troubleshoot a Small Business? Want to know what a Small Business is? Talk to us... This Group is not designed for blatant advertising, which is provided for elsewhere in EONS, nor is it a platform for recruiting by MLMs.
Recent Messages
Borrowing for Small Business
We do a lot of work with one, particular national Bank, in terms of Small Business Administration (SBA) Loans and referrals for people just starting out in Business. I had a meeting with the head of that Bank's SBA interface department yesterday, and the findings were alarming for anyone that relies on banks for Business borrowing, in general - not just SBA issues. This will affect both people who are buying/selling Businesses, as well as people that need to take out periodic loans for inventory, to get through seasonal cycles, even to borrow money to pay Taxes.
First, in buying/selling a business, it appears that the SBA is changing its lending practices, considerably. This is not new information; it has been anticipated for some time. The new changes were to have taken place in June, but have been delayed in August. The delay, in part I believe, is that they have not gotten the exact parameters for the changes laid out in stone, as yet.
Part of the change will apparently be in restricting the kinds of Businesses the SBA will support. The riskier the kind of Business, in the view of the SBA, the less chance it will back up the loan. This leaves it to the Bank itself to do the loan, it they care to make such a loan without SBA support, and Banks are notorious for not taking risk on their own.
For those of you who do not know what the SBA does, suffice it to say that it does not loan money, itself. It provides insurance, for lack of a getter term, to Banks which make the loans for Business purposes. These kinds of changes are common at various times in economic cycles, but this series of changes are more critical than most and will definitely hurt Business Owners that are thinking of retiring, any time soon.
Perhaps the most serious blow is that the SBA appears to be taking the position that it will not lend money as completely as it did in the past; it will rely on the Business Owner who is selling his/her Business to take a secondary note. Though the changes are not set as yet, as stated above, it is possible that the SBA will not lend on anything paid by the Buyer for Goodwill, or that it will lower the amount of Goodwill the SBA will guarantee. This will force the Business Seller to take at least part of the risk on financing.
Second, it appears that Bank of America and Citibank have both reined in their Lines of Credit, not only for Home Equity, but for some Business Lines of Credit, as well. (Remember that I have heard this from highly placed representatives in another Bank, but have not confirmed this with either of the two Banks named.) The Home Equity Loans affect a tremendous number of Small Businesses, because the Businesses themselves often do not have sufficient equity to provide security for Lines of Credit, on their own. Therefore, the Business Owner traditionally takes out a Home Equity Loan, or a Business Loan secured by his/her home, to secure the Line of Credit.
The reason these Banks have taken this action is largely due to the residential housing slump. If your Line of Credit was based on the value of your home - let's say your home was worth $300,000 when you initially set up the Line of Credit - it may be worth only about $240,000 in today's market, as far as the Bank in concerned. Therefore, there is far less security for the Bank, and so the Bank will refuse to lend on that basis.
Many Business Owners were not formally informed of this, and wrote checks from their Line of Credit accounts to the IRS to pay for their 2007 Taxes, only to find that the checks bounced! The Banks have not yet called in the loans, meaning they are not demanding immediate payment, but they are not honoring any withdrawals or extensions of credit, on this basis.
If you are one of the many Business Owners that has a Line of Credit, I would be extremely careful in calling my Bank, before writing any checks out of that account. Moreover, if you have already taken money out of that Line of Credit account, I would talk the situation over with your accountant. You may not want to pay that money back, any time soon. Pay the monthly interest or minimum payment, to be sure; but if you repay that money back in total, will you be able to rely on that account when you need it again?
Times are tough! As Small Business Owners, we can survive, and maybe even be stronger, as a result. (My philosophy is that crises breed opportunity!) But in order to survive, we have to anticipate and think ahead!
First, in buying/selling a business, it appears that the SBA is changing its lending practices, considerably. This is not new information; it has been anticipated for some time. The new changes were to have taken place in June, but have been delayed in August. The delay, in part I believe, is that they have not gotten the exact parameters for the changes laid out in stone, as yet.
Part of the change will apparently be in restricting the kinds of Businesses the SBA will support. The riskier the kind of Business, in the view of the SBA, the less chance it will back up the loan. This leaves it to the Bank itself to do the loan, it they care to make such a loan without SBA support, and Banks are notorious for not taking risk on their own.
For those of you who do not know what the SBA does, suffice it to say that it does not loan money, itself. It provides insurance, for lack of a getter term, to Banks which make the loans for Business purposes. These kinds of changes are common at various times in economic cycles, but this series of changes are more critical than most and will definitely hurt Business Owners that are thinking of retiring, any time soon.
Perhaps the most serious blow is that the SBA appears to be taking the position that it will not lend money as completely as it did in the past; it will rely on the Business Owner who is selling his/her Business to take a secondary note. Though the changes are not set as yet, as stated above, it is possible that the SBA will not lend on anything paid by the Buyer for Goodwill, or that it will lower the amount of Goodwill the SBA will guarantee. This will force the Business Seller to take at least part of the risk on financing.
Second, it appears that Bank of America and Citibank have both reined in their Lines of Credit, not only for Home Equity, but for some Business Lines of Credit, as well. (Remember that I have heard this from highly placed representatives in another Bank, but have not confirmed this with either of the two Banks named.) The Home Equity Loans affect a tremendous number of Small Businesses, because the Businesses themselves often do not have sufficient equity to provide security for Lines of Credit, on their own. Therefore, the Business Owner traditionally takes out a Home Equity Loan, or a Business Loan secured by his/her home, to secure the Line of Credit.
The reason these Banks have taken this action is largely due to the residential housing slump. If your Line of Credit was based on the value of your home - let's say your home was worth $300,000 when you initially set up the Line of Credit - it may be worth only about $240,000 in today's market, as far as the Bank in concerned. Therefore, there is far less security for the Bank, and so the Bank will refuse to lend on that basis.
Many Business Owners were not formally informed of this, and wrote checks from their Line of Credit accounts to the IRS to pay for their 2007 Taxes, only to find that the checks bounced! The Banks have not yet called in the loans, meaning they are not demanding immediate payment, but they are not honoring any withdrawals or extensions of credit, on this basis.
If you are one of the many Business Owners that has a Line of Credit, I would be extremely careful in calling my Bank, before writing any checks out of that account. Moreover, if you have already taken money out of that Line of Credit account, I would talk the situation over with your accountant. You may not want to pay that money back, any time soon. Pay the monthly interest or minimum payment, to be sure; but if you repay that money back in total, will you be able to rely on that account when you need it again?
Times are tough! As Small Business Owners, we can survive, and maybe even be stronger, as a result. (My philosophy is that crises breed opportunity!) But in order to survive, we have to anticipate and think ahead!
Mult level business
This a question, not a commercial (lol)
I am contemplating participating in a Mult level business. I think it will be a great way to add a second income. I would like to focus on the service, and not so much on the marketing area of this business.
I have two questions: Do you see a lot of success with this kind of business? Any suggestions on how to first market the service.
I am currently doing my research so any help would be good.
I am contemplating participating in a Mult level business. I think it will be a great way to add a second income. I would like to focus on the service, and not so much on the marketing area of this business.
I have two questions: Do you see a lot of success with this kind of business? Any suggestions on how to first market the service.
I am currently doing my research so any help would be good.
GM - going down the tubes???
If you haven't heard by now 'General Motors' the Big Car
Manufacturer is in Big trouble.
They have lost about 25% of their business and the stock price has fallen below $10, not since 1954. Why???
I believe that their troubles began way back in 1983/85. This was the year when they began Not listening to their customers, buying businesses they knew nonething about, and
wouldn't let their managers think.
I just checked their financials and the last 3 quarters(nine
months) have all been loses in the gross profit level. Their payables and long term debt is Healthy, and their receivables for the current quarter have been cut in half.
If their stock price continues to fall and if it falls below
$5.00 a share they can be delisted from the New York Stock
Exchange - remember GM is a Blue Chip. If they get delisted
then GM would fall down to the Over The Counter exchange.
Would this mean death for GM - I don't know, but also on the
nitely news tonite - it said that they are in a scramble to
start making more fuel efficient cars that may take at least
6 months to produce.
Will GM survive, If If they start doing what they must do in
a quick period of time - I think they can.
This is why it's sooo important to listen to your customers
And let your people think!!! Remember - your employees down
on the floor know what's going on.
Manufacturer is in Big trouble.
They have lost about 25% of their business and the stock price has fallen below $10, not since 1954. Why???
I believe that their troubles began way back in 1983/85. This was the year when they began Not listening to their customers, buying businesses they knew nonething about, and
wouldn't let their managers think.
I just checked their financials and the last 3 quarters(nine
months) have all been loses in the gross profit level. Their payables and long term debt is Healthy, and their receivables for the current quarter have been cut in half.
If their stock price continues to fall and if it falls below
$5.00 a share they can be delisted from the New York Stock
Exchange - remember GM is a Blue Chip. If they get delisted
then GM would fall down to the Over The Counter exchange.
Would this mean death for GM - I don't know, but also on the
nitely news tonite - it said that they are in a scramble to
start making more fuel efficient cars that may take at least
6 months to produce.
Will GM survive, If If they start doing what they must do in
a quick period of time - I think they can.
This is why it's sooo important to listen to your customers
And let your people think!!! Remember - your employees down
on the floor know what's going on.
Starting a business - One Story
Of all the types of businesses to start and be successfull at, restrauants are one of the hardest to make successfull -
I know because I worked in one for 6 months and between employees that don't want to work/work hard, breakage, wrong
food served, orders that take forever, etc. I heard of this
woman who did start one and made it a Success!
I only wish I could remember the name of the restrauant. I
heard about this bout 10 years ago and it has stuck with me.
She waitressed at this nice family restrauant for 12 years.
She wanted to own her own but also wanted it to be a success. For 10 of those years she watched what worked and
what didn't, she watched what type of people they hired and
got to know them, she watched all the mistakes that happened
and the people that made them, she watched management and saw what styles worked and didn't and who were creeps and who really appreciated the employees, she also saw why food spoiled and why there was waste, AND she saved her money.
When she wrote her business plan(back then you needed one),
she wrote it from a different perspective. She wrote it from how she observed what didn't work and what did. The bank was amazed at her and her plan. She got the loan with
no problem.
After 12 years she was set to open her own. She did all the
initial hiring and knew how to read people and who was telling her a far fetched story and who was really going to work. She knew how to cover every nook and cranny. She opened her restrauant and it was a success from day one.
Although I am not a 'attention to detail' person because I feel that you can get soo bogged down in the details that you miss site of the big picture - IF you don't lay a Good
Foundation at the start, your asking for problems soon after.
I know because I worked in one for 6 months and between employees that don't want to work/work hard, breakage, wrong
food served, orders that take forever, etc. I heard of this
woman who did start one and made it a Success!
I only wish I could remember the name of the restrauant. I
heard about this bout 10 years ago and it has stuck with me.
She waitressed at this nice family restrauant for 12 years.
She wanted to own her own but also wanted it to be a success. For 10 of those years she watched what worked and
what didn't, she watched what type of people they hired and
got to know them, she watched all the mistakes that happened
and the people that made them, she watched management and saw what styles worked and didn't and who were creeps and who really appreciated the employees, she also saw why food spoiled and why there was waste, AND she saved her money.
When she wrote her business plan(back then you needed one),
she wrote it from a different perspective. She wrote it from how she observed what didn't work and what did. The bank was amazed at her and her plan. She got the loan with
no problem.
After 12 years she was set to open her own. She did all the
initial hiring and knew how to read people and who was telling her a far fetched story and who was really going to work. She knew how to cover every nook and cranny. She opened her restrauant and it was a success from day one.
Although I am not a 'attention to detail' person because I feel that you can get soo bogged down in the details that you miss site of the big picture - IF you don't lay a Good
Foundation at the start, your asking for problems soon after.
Commentary - II
In my first 'commentary' I wrote about 'employees' now I will write about Customers - how to get, keep, and how the link between employees and customers is soo very crucial.
Customers are really very easy to get, except for the ones
who have been with another company for years, then it's a little harder, but not impossible.
Keeping those customers is the trick.
What have I witnessed in my years of being an employee.
1. Owners not hiring the right type of people who really
know customer service. 2. Owners trying to find themselves in the hiring process(ain't gonna happen). 3. Owners relying too much on degrees and successful track records - instead of people who have no problem getting sales. 4. Owners not training their people of the product(s) throughly - and this 1 day course is for the birds.
When people decide to start a business - they are the experts and they go around to various businesses and introduce themselves and their products and answer all the questions that are asked of them. This is so because they
know the answers!!!
Now when you start hiring your people are they trained in what products there are and what the products can and cannot
do - if your employees don't have this training then this is
a major area where customers can be lost and are.
When I was hired for Amazon.com as a customer service, I received two weeks of paid training - just learning what the
products were and a third week of OJT still under very experience amazon people who were right there if you got stuck - at the end of this I knew my stuff and I still had
help from the pro's.
What causes customers to leave. 1. Employees that just don't
care, understand, or know what customers service is about.
2. Employees that can't answer questions about problems the
customers are experiencing. 3. Employees that continually
have to put the customers on hold and ask someone else. 4.
Employees that haven't been given the authority to help solve a customers problem.
An example: On this radio program, the host is a multmillionaire, owns a few businesses, and helps people with their business problems, etc. One nite this guy called
up - he was 32 at the time and had an automotive supply business. He had a 36 year old make GM and a 28 year old female parts dept mgr. His complaint was that the GM and parts dept Mgr were 'running' his business and not him and
they were getting the 'glory' and not him.
When the host finally realized what was going on, he said this - 'your job as the owner is not to run your business, it's to find people better than you to run your business for you and for You to find other businesses to start for more revenue production'. You could hear this young guy almost crying because he thought he was to get all the glory - the host then asked if his business was thriving and the guy answered yes - then the host said Good - now go start another business and find people better than you and etc.
People - why do you think Google.com is soooo successful with their stock price at 550.00 a share and the company worth Billions - because they treat their employees like Kings and Queens - they hire the best, train them throughtly and let'm rip - this was on the nitely news bout 6 months ago.
Thank You
Customers are really very easy to get, except for the ones
who have been with another company for years, then it's a little harder, but not impossible.
Keeping those customers is the trick.
What have I witnessed in my years of being an employee.
1. Owners not hiring the right type of people who really
know customer service. 2. Owners trying to find themselves in the hiring process(ain't gonna happen). 3. Owners relying too much on degrees and successful track records - instead of people who have no problem getting sales. 4. Owners not training their people of the product(s) throughly - and this 1 day course is for the birds.
When people decide to start a business - they are the experts and they go around to various businesses and introduce themselves and their products and answer all the questions that are asked of them. This is so because they
know the answers!!!
Now when you start hiring your people are they trained in what products there are and what the products can and cannot
do - if your employees don't have this training then this is
a major area where customers can be lost and are.
When I was hired for Amazon.com as a customer service, I received two weeks of paid training - just learning what the
products were and a third week of OJT still under very experience amazon people who were right there if you got stuck - at the end of this I knew my stuff and I still had
help from the pro's.
What causes customers to leave. 1. Employees that just don't
care, understand, or know what customers service is about.
2. Employees that can't answer questions about problems the
customers are experiencing. 3. Employees that continually
have to put the customers on hold and ask someone else. 4.
Employees that haven't been given the authority to help solve a customers problem.
An example: On this radio program, the host is a multmillionaire, owns a few businesses, and helps people with their business problems, etc. One nite this guy called
up - he was 32 at the time and had an automotive supply business. He had a 36 year old make GM and a 28 year old female parts dept mgr. His complaint was that the GM and parts dept Mgr were 'running' his business and not him and
they were getting the 'glory' and not him.
When the host finally realized what was going on, he said this - 'your job as the owner is not to run your business, it's to find people better than you to run your business for you and for You to find other businesses to start for more revenue production'. You could hear this young guy almost crying because he thought he was to get all the glory - the host then asked if his business was thriving and the guy answered yes - then the host said Good - now go start another business and find people better than you and etc.
People - why do you think Google.com is soooo successful with their stock price at 550.00 a share and the company worth Billions - because they treat their employees like Kings and Queens - they hire the best, train them throughtly and let'm rip - this was on the nitely news bout 6 months ago.
Thank You
Holidays
From a business perspective, I hate the summer holidays. For a week before the actual holiday event, everybody says, "Don't call me; I have to get ready for the holiday!" Most of them sit at home, watching TV in their underwear, sipping a beer, but they have to get ready for a week to do all of that.
Then, when the holiday is over, I hear, "Don't call me; I have to catch up from the holiday!" That probably means they have to get the beer stains out of the sofa. So, for every summer holiday, we lose two weeks of contact time. Memorial Day (which is actually in the Spring,) Independence Day and Labor Day...that add up to six (6) weeks of lost time.
What happens in your Business? How do you work around it? Is it a good time, or a bad time for you?
Then, when the holiday is over, I hear, "Don't call me; I have to catch up from the holiday!" That probably means they have to get the beer stains out of the sofa. So, for every summer holiday, we lose two weeks of contact time. Memorial Day (which is actually in the Spring,) Independence Day and Labor Day...that add up to six (6) weeks of lost time.
What happens in your Business? How do you work around it? Is it a good time, or a bad time for you?
Commentary
First off I want to thank those that responded to my post.
I received some replies and the replies were concerned about
customers(getting/keeping) and employees(any good ones).
Some of what I say in this post may offend some of you business owners - however, I lived thru a lot of what I'm going to say.
Employees - why can't businesses hire good ones, and why don't they want to work. Part of the reason is the changing
of the American culture, the psychology of people/times, and
the owners themselves.
From 1946 thru 1957 - these years saw the baby boomers and they developed a great work ethic. Now these boomers are either retiring or being laid off. Some have said that all this exp is going down the drain, while others(gen x) have
said old exp and they make too much.
From 1956 thru 1969 - There was a very significant event that happened in 1963 which caused some of these to become
unmotivated and that was the 'British invasion' of the Beatles and 'Flower Power' - tune in, turn off, and drop out. Al was not lost however because they eventually finished school and settled down.
From 1970 thru 1989 - These grew up with the computer and speed. To them technology is Fantastic, however the offshoot of this was the speed at which anything could be done. What happened was two fold - if you couldn't solve a customers problems in 6 minutes or less - what's wrong with
you and why are you taking soo long.
What suffered was work ethic, customer service, and making sure the job was done right. Another thing also happened during these years and that was some people tried various venues and some found a way of making money without having to do too much work. When people started to see that
others had done it - a mantra bacame 'why should I kill myself for some boss who doesn't pay me decent'.
Another factor is the educational system - When I was a member of this bus org, I talked to this CEO of a company and was told that they give a math test to every prospective
employee - only 40% pass the test which further dwindles the
employee pool.
The Bosses - I do firmly believe that most every boss means well - I also believe that part of the problem of employee
disatification is the way the boss communicates to the employee. I have had people tell me that 1. I was hired to
do a job(s) - wish my boss would let me. 2. Everything has
to be done their way 'they must be afraid of modernization',
or they simply don't trust us. 3. Every time I point out
something that is wrong - I am met with 'your an employee not a professional'. 4. They complain about not making any
money, but they can buy a new this or that.
There was this story bout this business where I used to live
and although the employees liked the owner - they were griping about the low wages - this owner did something very
unique - she took the company income statement and made copies for all the employees so they could see how much money the company wasn't making, And the owner invited everybody to tell her what they were thinking - when all the employees knew the facts they came together and worked to make the company a success.
People - I hope that you realize that finding good employees
may not be easy but once you do, Please don't put the handcuffs on them. Allow them to do the work you hired them
for And listen to them when they speak. Remember they are in the trenches where you might not be. Give them responsibility as much as they can handle and allow them to
make decisions without calling you.
Thank You
I received some replies and the replies were concerned about
customers(getting/keeping) and employees(any good ones).
Some of what I say in this post may offend some of you business owners - however, I lived thru a lot of what I'm going to say.
Employees - why can't businesses hire good ones, and why don't they want to work. Part of the reason is the changing
of the American culture, the psychology of people/times, and
the owners themselves.
From 1946 thru 1957 - these years saw the baby boomers and they developed a great work ethic. Now these boomers are either retiring or being laid off. Some have said that all this exp is going down the drain, while others(gen x) have
said old exp and they make too much.
From 1956 thru 1969 - There was a very significant event that happened in 1963 which caused some of these to become
unmotivated and that was the 'British invasion' of the Beatles and 'Flower Power' - tune in, turn off, and drop out. Al was not lost however because they eventually finished school and settled down.
From 1970 thru 1989 - These grew up with the computer and speed. To them technology is Fantastic, however the offshoot of this was the speed at which anything could be done. What happened was two fold - if you couldn't solve a customers problems in 6 minutes or less - what's wrong with
you and why are you taking soo long.
What suffered was work ethic, customer service, and making sure the job was done right. Another thing also happened during these years and that was some people tried various venues and some found a way of making money without having to do too much work. When people started to see that
others had done it - a mantra bacame 'why should I kill myself for some boss who doesn't pay me decent'.
Another factor is the educational system - When I was a member of this bus org, I talked to this CEO of a company and was told that they give a math test to every prospective
employee - only 40% pass the test which further dwindles the
employee pool.
The Bosses - I do firmly believe that most every boss means well - I also believe that part of the problem of employee
disatification is the way the boss communicates to the employee. I have had people tell me that 1. I was hired to
do a job(s) - wish my boss would let me. 2. Everything has
to be done their way 'they must be afraid of modernization',
or they simply don't trust us. 3. Every time I point out
something that is wrong - I am met with 'your an employee not a professional'. 4. They complain about not making any
money, but they can buy a new this or that.
There was this story bout this business where I used to live
and although the employees liked the owner - they were griping about the low wages - this owner did something very
unique - she took the company income statement and made copies for all the employees so they could see how much money the company wasn't making, And the owner invited everybody to tell her what they were thinking - when all the employees knew the facts they came together and worked to make the company a success.
People - I hope that you realize that finding good employees
may not be easy but once you do, Please don't put the handcuffs on them. Allow them to do the work you hired them
for And listen to them when they speak. Remember they are in the trenches where you might not be. Give them responsibility as much as they can handle and allow them to
make decisions without calling you.
Thank You
Movin' On to Marketing
After reading the comments here about biz startups, seems as though we're moving on to marketing of which advertising is simply one component. I'm specifically interested in service sector, 'hearing' about success and failures.
Thanks!
Thanks!
Build a Business - Easy or Hard Work!
Or maybe I should say 'Is it easy/fun with work involved' or
'is it skull drugery/ball and chain'.
I used to understand when I was back in high school that building a business was hard work, took hours of planning, and lots of blood, sweat, and tears. That you would work from 6am till 10pm 7 days a week.
For the longest time I held this belief, mostly because of the people/companies I worked for. There were even commercials about this and even one job I had the boss said
to me one day as I was leaving - you get to go home, I still have to stay for 4 more hours.
So what changed my thinking. One was the advent of technology/the internet when info was at your fingertips.
Another was this documentary on tv back in the late 80's
early 90's when this documentary was on Successful people.
One of the prime statements that this program said was that they intervied these successful people and not one said that they worked hard, they all said that they had 'fun' at work and they got paid for having fun. Did their business
take planning - yes, but it wasn't 24/7 and they didn't suffer stress. They did what had to be done, and they left
the office/shop at a decent time and had a life.
Another factor was where I used to live. This guy was a top
salesman for this firm. He had a success rate that was fantastic, the problem was that his boss/the firm didn't really like the way he sold - nonething illegal, just the difference between old school and new school. After he got another contract, his boss and he had words, I don't know if he quit or was fired. What he did next made headlines -
he started his own school of salesmanship, putting in all of his new ideas and incorporating each persons personality and telling them that each of them had to sell their way within guidlines. I talked to him one day and he told me that finally he was having fun and working and making money all at the same time.
Does business take pllanning or a thought process - of course it does. But if you can't have fun at it then why are you doing it, why have a business if it's going to make you miserable.
There is also a difference between brick and mortor and web businesses. Brick and mortor businesses do take a lot more than web businesses unless the web business is set up like a brick bus - I know I worked for Amazon.com during the Christmas season and read about their growth, but guess what - they still have fun, no dress code, and still making money - why - because Amazon laid a good foundation in the beginning.
If you agree or disagree with this - let me know.
'is it skull drugery/ball and chain'.
I used to understand when I was back in high school that building a business was hard work, took hours of planning, and lots of blood, sweat, and tears. That you would work from 6am till 10pm 7 days a week.
For the longest time I held this belief, mostly because of the people/companies I worked for. There were even commercials about this and even one job I had the boss said
to me one day as I was leaving - you get to go home, I still have to stay for 4 more hours.
So what changed my thinking. One was the advent of technology/the internet when info was at your fingertips.
Another was this documentary on tv back in the late 80's
early 90's when this documentary was on Successful people.
One of the prime statements that this program said was that they intervied these successful people and not one said that they worked hard, they all said that they had 'fun' at work and they got paid for having fun. Did their business
take planning - yes, but it wasn't 24/7 and they didn't suffer stress. They did what had to be done, and they left
the office/shop at a decent time and had a life.
Another factor was where I used to live. This guy was a top
salesman for this firm. He had a success rate that was fantastic, the problem was that his boss/the firm didn't really like the way he sold - nonething illegal, just the difference between old school and new school. After he got another contract, his boss and he had words, I don't know if he quit or was fired. What he did next made headlines -
he started his own school of salesmanship, putting in all of his new ideas and incorporating each persons personality and telling them that each of them had to sell their way within guidlines. I talked to him one day and he told me that finally he was having fun and working and making money all at the same time.
Does business take pllanning or a thought process - of course it does. But if you can't have fun at it then why are you doing it, why have a business if it's going to make you miserable.
There is also a difference between brick and mortor and web businesses. Brick and mortor businesses do take a lot more than web businesses unless the web business is set up like a brick bus - I know I worked for Amazon.com during the Christmas season and read about their growth, but guess what - they still have fun, no dress code, and still making money - why - because Amazon laid a good foundation in the beginning.
If you agree or disagree with this - let me know.
Building Business = Fun
Oh, Renegade, you just gave me a license to rant! AND I'm going to stick it right out here as a message rather than a "reply." (See me grinning devilishly?)
I was a corporate accountant back in 2004 when G.W. decided that a whole batch of us "white collar workers" shouldn't be paid time-and-a-half for working more than 40 hours a week. We were considered "exempt" from overtime pay.
Thus began the over-working of middle-aged middle management.
Within the corporate world, as employees retired or moved on, the positions were not filled. Rather, workloads were heaped on those of us left behind. To this day, the typical work week for middle-management is 50 to 60 hours.
Now . . . ask me if I am having "fun" building my own business, choosing what to work on and when. Are you nuts?! I'm lovin' every minute of it!!
Somewhere else I stated that maybe "joy" would be a better word than "fun" because of the emotional investment required to build a business.
So ask me if I enjoy what I'm doing, and in a heart-beat I'll answer: "You betcha!"
I was a corporate accountant back in 2004 when G.W. decided that a whole batch of us "white collar workers" shouldn't be paid time-and-a-half for working more than 40 hours a week. We were considered "exempt" from overtime pay.
Thus began the over-working of middle-aged middle management.
Within the corporate world, as employees retired or moved on, the positions were not filled. Rather, workloads were heaped on those of us left behind. To this day, the typical work week for middle-management is 50 to 60 hours.
Now . . . ask me if I am having "fun" building my own business, choosing what to work on and when. Are you nuts?! I'm lovin' every minute of it!!
Somewhere else I stated that maybe "joy" would be a better word than "fun" because of the emotional investment required to build a business.
So ask me if I enjoy what I'm doing, and in a heart-beat I'll answer: "You betcha!"
Photos
-
Don't wing i...
2 months ago
-
Jerry - Jack...
about 1 year ago
Join this group to add a photo
(requires you to log in or sign up.)