Posts Tagged ‘failure’

Don’t Let Failure Stop You

We all experience failures. In business, just as in our personal life, what we do with the failures matters more than the actual failures.

Failure Is a Certainly

No matter how well we plan and execute, there are times when we will simply fail. Accept it and get on with the show. In other words, Read the rest of this entry »

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Taking Risks is Essential to Business

The unknown can scare anyone, and the more unknown something is the more it can scare us into not acting.

Nothing Ventured, Nothing Gained

All of us have probably heard numerous times, “Nothing ventured, nothing gained.” I have no idea where this statement originated, but it is certainly true. Oh, I suppose we do occasionally experience an unexpected gain when we have done nothing to cause it, but that is the exception. Read the rest of this entry »

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Get Unstuck

It happens to all of us at some point. We seem to be frozen, unable to move forward. Here are some thoughts on overcoming that.

Mindset

In her terrific book, Mindset, Carol S. Dweck, Ph.D presents a detailed discussion of the impact of mindsets. One of the things I look for when deciding Read the rest of this entry »

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What You Say Matters

A Bad Experience

Recently I was shopping for a gift. What the gift was makes no difference. It was, however, something that was relatively expensive and needed to be researched carefully to be certain the purchase was a wise one.

I went in a store that shall remain nameless and became interested in a particular model. The price was excellent, but still it made sense Read the rest of this entry »

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Necessity of Backups

If you are anything like others, you have undoubtedly experienced the loss of data as a result of an equipment failure or an error. For example, if you work with Microsoft Excel you probably have been working on a spreadsheet and put off saving it. Then there is a power failure and you computer crashes and you lose something you have been working as well as the time devoted to it.

It Can Be Worse

Losing an Excel worksheet is frustrating, but is gets much worse. Suppose you are Read the rest of this entry »

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Seeking Success

Dictionary.com defines success as the favorable or prosperous termination of attempts or endeavors. That is probably what most of us think of when the think of success. But, I believe it is more than that.

Success from Failure

Some of our greatest successes actually come out of the things we learn when we fail. For example, consider the quote attributed to Thomas Edison as he attempted to make a light bulb. “I have not failed 1,000 times. I have successfully discovered 1,000 ways to NOT make a light bulb.” While there remains some question as to whether Edison really said this, the idea is valid. We often experience Read the rest of this entry »

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The Risks of Suppliers

Every company has vulnerabilities. For example, if you only have one customer or client and you lose them, you are out of business unless you can find at least one new customer. The more common scenario is when a company has multiple customers but one or two customers represent such a significant portion of their business that the loss any of them would considerably alter the picture. This change could be forcing a closure, cutbacks in employees, or other forms of financial belt tightening. Probably you are aware of this risk and are hopefully doing something to mitigate it.

There is another risk that many companies overlook–risks of suppliers.

Dependency

You have undoubtedly heard the expression, Read the rest of this entry »

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Everybody Has a Better Idea

As I interact with others, be it in person or talking back and forth in comments on articles or blog postings, there is one thing I have noticed is always present. There is never full agreement as to the best way to handle something. In other words, we are all full of ideas, especially when the issue does not directly impact us.

Case in Point

Not long ago I was reading an excellent article on business plans. In the comments to this article there was a great debate going on as to the level of detail needed for a business plan and if one was always needed. I really enjoyed seeing Read the rest of this entry »

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If It Ain’t Broke It Will Be

You probably heard someone say, “I was just walking along minding my own business when it happened.” Perhaps you were the one who said it. Businesses, especially small businesses often operate the same way.

But Everything Was Working

Many businesses operate much like the person above with an attitude of if it ain’t broke, don’t worry about it. Everything was working just fine, and then it happened. What happened? Perhaps sales began to fall, expenses started increasing, cash got tight, employees became unhappy and started jumping ship, or a host of other things. You didn’t even see it coming, and that raises a question. Read the rest of this entry »

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Dave Ramsey’s EntreLeadership Reviewed

“Wear the old coat and buy the new book.” – Austin Phelps

If you have ever listened to Dave Ramsey on the radio or read any of his books, you will understand that the quote above fits nicely with his way of thinking.  For example, in his book EntreLeadership one of the points he makes is that a business does not necessarily need to by new equipment (call equipment the old coat), yet he also emphasizes investing in the education and training of employees (the new book).

In early 2011 I read his book, Financial Peace Revisited. It was insightful and in general I would have to say Read the rest of this entry »

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