Vengeance In Business Provide Little Consolation

Vengeance In Business Provide Little Consolation

Business Fails, Business Ideas, Relationship, Uncategorized
All those who work or run some business might have come across a time when they were made to feel ignored, small and invaluable. No matter how much one gives in, there are times when the efforts are turned down.
In such situations, it is quite natural for someone to feel dislocated, isolated and the feeling of vengeance might overrule the entire judgement of a person. But, vengeance in business provide little consolation and that’s why one should’t seek revenge.
Here are four main reasons why you should never seek revenge in business:
  1. Revenge can escalate the bad situation or rebound in an unexpected and harmful way.
  2. Your problem is not others problem so seeking revenge won’t get you anything (not even sympathy). But, seeing you as an entrepreneur with a problem will only give gossips to the media. Don’t feed their hungry eyes!
  3. If something went wrong, it doesn’t mean that you were right. Raising the issue will also put you under suspicion of doing something wrong. So, why to raise someone’s brow when you can sit and relax.
  4. The problem will pass out because life isn’t constant.

Multitasking is a bad idea?

business, Business Ideas, Uncategorized

You know that multitasking is a bad idea. You may even know that frequent multitasking shrinks your brain and lowers your IQ. But did you know that, far from saving you time, multitasking cuts your productivity by a whopping 40 percent?

That frightening number comes from Devora Zack, CEO of Only Connect Consulting, and author most recently of Singletasking: Get More Done–One Thing at a Time. In fact, she notes, there’s actually no such thing as multitasking. You may think you’re taking part in a conference call, writing a report, and texting with your spouse all at the same time, but what your brain is actually doing is switching non-stop among these different activities. That’s costing you both efficiency and brain cells.
The problem is, like many things, multitasking may be bad for you but it feels really good. That’s because as you switch from task to task, your brain reacts to the feeling of newness with a jolt of dopamine–the same brain chemical that causes heroin addiction.
Fortunately, Zack says, you can get off the multitasking treadmill, and regain your efficiency, not to mention the IQ points you may have lost. Here’s how.

1. Choose one task and commit to it.

“Singletasking obliges you to do one thing at a time, excluding any other demands at that moment,” Zack says. “This means you must stand firm and genuinely commit to your choices.”
This doesn’t mean that you need to stick with a single task until it is completed, she adds–few of us have the scheduling freedom for that. What she does suggest is picking a specific amount of time to work on a given task and sticking to it for that much time.
I believe that approach is the power of the highly popular Pomodoro Technique, in which you work on a given task for 25 minutes at a time (one “pomodoro”) and then take a five-minute break. Whether you use pomodoros or not, focusing on one task at a time is a highly powerful thing to do, especially if you’ve got a tough job to complete.

2. Pick a place to park distracting inspirations.

You know what I mean. You’re in the middle of writing an email to a client and suddenly a bright idea for how to pitch another client pops into your head. If you’re a multitasker, your response us to open a new email and start writing that second pitch while it’s fresh in your mind.
The wiser approach is to designate a handy place to leave notes to yourself so that you don’t lose your brilliant ideas and can come back to them later while keeping your focus on the task at hand. Ideally, you should quickly switch to a different screen (or pull out a nearby notepad), jot down a few words or a sentence that will help you remember your bright idea, and then go right back to what you were doing. Zack uses her smartphone for this purpose; I use Evernote. Whatever method you choose, it should be quick, near to hand, intuitive for you, and as brief an interruption as possible.

3. Give yourself the gift of distraction-free time.

“It’s up to you to control your environment–to ‘build fences’ to keep potential distractions, such as noise and pop-ups, at bay,” Zack says. It’s easy to blame your co-workers (or the people you live with, if you work at home) when they distract you. It’s also easy to blame your technology for distracting you–the incoming email or Facebook notification that bings or buzzes, the incoming phone call or text.
The fact is, being distracted or not is mostly within your control. If you have an office with a door, close that door during conference calls, while working on projects, and other times you need want to focus on a single task (which should be most of the time). If you work in a cubicle or your office has an open floor plan, use a sticky note or some other means to signal that you don’t want to be disturbed right now. And you can block calls, texts, and other such distractions by closing your email window and silencing your phone’s notifications.

4. Perform related tasks in clusters.

Answering email messages, texts, and social media messages as they arrive is a great way to abandon your focus and get that addictive dopamine craving filled. Resist the temptation by relegating certain tasks to certain periods or times of the day. For instance, you might limit reading and answering email to three times: when you start work in the morning, at lunch time, and right before you stop for the day, Zack suggests. That way, email won’t interrupt you the rest of the time.
It’s also smart to cluster tasks by topic because that will help you increase focus. You may be receiving email about many different projects or sales opportunities. If you respond to them project by project, instead of in the order they arrive, you’ll be able to focus better on each overall topic.

5. Grow your attention span with a little quiet time.

The average human attention span is eight seconds, Zack says. “This is one second less than the attention span of a goldfish,” she notes. One reason is that modern humans can satisfy our own desire for distraction every waking moment and are never alone with our thoughts.
So fight that tendency by scheduling a few minutes of introspective quiet time into your daily or weekly routine. Formal meditation is one way to achieve this, but so is this simple five-minute exercise. Just giving yourself a few minutes to daydream works too.

6. Become a master at saying no.

None of us like saying no, and all of us like to think we can take on one more project, one more volunteer task, one more social engagement. But that’s a recipe for disaster, Zack warns. Instead, she says, we must learn to say no gracefully.
“It’s perfectly fine, even responsible, not to respond to every request immediately,” she says. And saying no doesn’t make you selfish. “‘No, I can’t right now,’ is not equivalent to ‘No I won’t ever do it,'” she adds. “What you’re really saying is that, just as you’re committed to your current obligation, you’ll be equally committed to their request when the time comes.” (And if you’re wondering which tasks to say no to, this approach to streamlining may help.)

7. Ask the people around you to hold you accountable for focusing.

“Old habits die hard,” Zack notes. “From time to time, you’ll almost certainly go back to your old ways, reverting to task-switching. So ask your family, friends, and co-workers to call you out.”
Not only will this help keep you honest about focusing on one task at a time; it will have extra benefits as well. If the people in your life understand that you’re trying to build focus–and that you want their help in that effort–they’ll be in your corner to help make that happen. Besides holding you to your no-distraction plan, they may look for ways to keep distractions from reaching you. They may even think twice before distracting you themselves.
source Inc

5 Ways to Identify Future Business Opportunities

Business Ideas, start a business, Uncategorized



There are as many ways to evaluate as there are fish in the sea, but here are some basic topics that I use to measure my success keep me open to future opportunities.

1. Simplification

I know you have heard of the KISS Principle: Keep It Simple, Stupid!  This works really well for me.  I don’t like wasting time (mine or my customer’s) and thus this particular mantra, if you like, has become a very important measuring criterion.

Everything in my business has to be easy: to create, to implement, and to follow moving forward.  If things start to feel overly complicated, then I know I’m in trouble and look for ways to simplify my task.


Simplifying allows me to see what I need to cut out, what I need to continue and strengthen, and where the gaps are. Sometimes all I need to do to see an opportunity for simplicity is to strip things down to basic goals and the processes I use to reach them.  Taking the time to simplify now, will ensure that I am open to opportunities in the New Year.

2. Connection

When I was young they called it the “food chain.”  The bigger fish eat the smaller fish…but now educators call it the “food web.”  It’s not a linear progression from one fish to another, it’s about the connections between the fish, the plants, bacteria, the water, and so much more.

Businesses are like that! Connections are key to creating opportunities.

Of course, you have heard this before.  But keep reminding yourself that the right connections not only can increase your client base and income but also create new opportunities for further development in both business and personal life.


You never know where any, one single fish (or connection) in your web might lead you!  The broader the web you create, the higher the chances of connectivity leading to amazing opportunities.

3. Education

Everyone knows that education is vital for children.  The problem is that many of us feel that once we finish school our schooling should end as well.

This is a mistake.  Education should be an ongoing part of your business, and your life!  Attend live and virtual events, talk about what you do with complete strangers on the bus, in a cafe, or at your kids’ school.  Insight or enlightenment can come from the most unlikely of places.

Read print and online publications, when you can, to see where the world of small business is heading and maybe discover a new direction you could take in your business.


Learning about your business, your topic, your field should not be seen as an “extra” but as an essential part of your business.  You will never know everything there is to know about your field, but the more you know the more opportunities you will see.

4. Critical Thinking

Critical thinking, as we know, is a skill that every manager is supposed to have.  But it’s sometimes hard to think critically about your own small business.

As you look for ways to improve your critical thinking in this year don’t forget to allow for “non-business” business thinking.  I find that spending time with kids playing with legos, playing chess, or doing puzzles not only rests my brain but stimulates it at the same time.  Saving Baby Born from hunger and fighting back dinosaur attacks enables me to free think and I often identify quite spectacular possible future scenarios for my business.


Critical thinking is essential, but there is no rule that it has to be done at your desk.  Try to ensure that you allow time for thinking in a variety of situations.  Creative critical thinking can solve challenges and help you visualize future opportunities.

5. Analysis

A SWOT analysis is a method of evaluation that maps out the Strengths, Weaknesses, Opportunities, and Threats in a situation.  Consider doing this at least once a year (or more often if you like) for your business to help you see any opportunities you may have missed in the grind of day to day management.

I love to review my SWOT analysis over time to see how the opportunities I identified in the past panned out.  It gives me such a feeling of accomplishment to see how strengths that I identified have been nurtured and have grown over time.

I try to do a SWOT analysis three or four times a year as my small business blooms because as a solopreneur it’s up to me to work with my wonderful self and to identify, foster and grow my own awesome opportunities.

Over to you, what helps you measure your success and identify future opportunities?


12 Leading Reasons of Business Failures

business, Business Fails, Business Ideas, start a business, Uncategorized




According to Business Survey.  magazine, 33% of all new businesses fail within the first six months. Fifty percent of new businesses fail within their first two years of operation and 75% fail within the first three years.


Here are the leading reasons of business failures.

1. No Business Plan


You‘ve heard the old saying “If you don’t know where you are going, how will you get there?” 

Too many business owners start their business without a plan. They simply “open their doors” for business and then expect to succeed. 

Before starting your business, take the time to develop a Business Plan. 

Your plan will identify what you want your business to accomplish (where you want to go) and the strategies that you will utilize (how you will get there).

(For tips on how to how to write a Business Plan, see the article entitled “How to Write an Effective Business Plan” in this section)

2. Under Funded 


Many businesses fail within the first few months, because the owner runs out of money. 

When starting any business, you will need money for all of your start up costs as well as money to sustain the business for the first few months of operation (until cash flow from operations is positive). 

Running out of money is a result of poor planning. A properly developed Business Plan will tell you exactly how much money you require for start up expenditures and to operate the business until cash flow is positive.

A business owner should develop Income Statements and Cash Flow Statements for the first two years of operations. That will tell you whether or not you have sufficient funds to sustain the business until it is profitable. 

3. Lack of Operating Goals and Objectives


Many business owners create a Business Plan to obtain a loan. Once they receive their funding, they put their plan “on the shelf” and do nothing further with it. 

While it is important to have a Business Plan, it is also very important to have specific goals and objectives for the first twelve months of operations.

In your planning process, create goals and objectives for your business. Break down goals and objectives by quarter – in other words, identify all of the things that must be done during the first quarter, the second quarter, the third quarter and the fourth. 

Examples of specific goals could be for each month; revenue objectives, profit objectives, numbers of new customers, specific marketing and operational activities, etc.

4. Failure to Measure Goals and Objectives


All too often, once a business starts operating, the owner becomes too immersed in the ongoing daily activities to take the necessary time to assess the progress of the business. 

It is fine to establish operational goals and objectives, but you also have to measure how well your business is performing against those goals and objectives.

Measuring against the identified goals and objectives will tell the owner whether or not modifications and alternate strategies are required.

5. Failure to Pay Attention to Cash Flow


There is an old saying in business “Cash is King”. In the early months of your new business, monitoring cash flow is extremely important. 

It is really as simple as this: if you continue to spend more money than you bring in, you will soon be out of business. 

Cash flow is all of the money that you take in each month minus all of your expenditures. 

Cash inflow is cash sales and accounts receivables collected. 

Cash outflow is all monies paid for inventory purchases and operating expenses (rent, heat, hydro, salaries, marketing expenditures, etc.).

It is not uncommon for most businesses to have a negative cash flow for the first several months of operation (in some businesses this may be for more than a year). 

However, at a point in time, the cash from revenues will exceed expenditures and the business will be in a positive cash flow position. Every new business owner has to ensure that he / she has preserved enough cash to reach this point.

6. Failure to Understand the Industry and the Target Customer


Some business owners start their businesses before fully investigating the industry. 

What are the trends in your industry – is it growing or declining? What are the opportunities and what are the threats? Where can you position your business in this industry in order that your business will succeed? Will new technologies have an impact on your industry?

If you have not taken the time to understand your industry, you could be entering a “sunset industry”. 

I have worked with two companies that had to reinvent themselves because they were both in “sunset industries” due to changes in technology. One was a manufacturer of computer printer ribbons for dot matrix printers. This was a very good industry until the introduction of laser and ink jet printers. People stopped buying dot matrix printers and the demand for printer ribbons declined significantly. The other company was a cheque printing company. Due to electronic payments, the usage of cheques declined significantly.

Some business owners open their doors for business without taking the time to understand their target customers (buyer demographics and psychographics, how they buy, what they buy, when they buy, what motivates them to buy and where they buy). 

Do not expect that just because you are now in business, that customers will flock to your door. If you do not understand your target customer, how do expect to effectively reach them? 

7. No Means of Differentiation – Just Another “Me Too” Business


Many businesses have failed because they are just another “me too” business. 

Customers need a reason to come to, or to want to do business with your company. 

If your products or services are the same quality and prices as your competitor(s), why will people buy from you? They already have an existing supplier.

If however, you can offer a different or better product / service (better quality, lower prices, broader selection, faster delivery, better location, extended warranty, etc.), prospective customers will want to do business with your company.

Every business owner must objectively ask this question “If I were a customer, why would I want to do business with this (my) company?” If you cannot identify two good reasons, then rethink your positioning and your strategies.

8. Poor or No Marketing Programs in Which to Attract New Customers


Just because you have opened your doors for business, that does not mean that customers will beat a path to it. 

You have to announce to prospective customers that (a) you are open for business and (b) why they should want to deal with you.

By understanding the demographics and psychographics of your target customers, you can identify how to best reach them. 

There are numerous ways in which you can market your business. Some of the more common are: 

Advertisements (newspapers, magazines, radio, television, yellow pages, value packs); billboards; brochures (electronic and printed); cross marketing / cross promotions; direct mail; fax (broadcast or personalized); networking; newsletters; postcards; posters; promotional items; public speaking; referrals; sales calls (cold calls, scheduled calls); sales letters; seminars & workshops; signs (interior and exterior); targeted e-mail; telemarketing; telephone on hold messages; trade shows; website.

In order to ensure that your business succeeds, in the first few months you will have to implement marketing programs that get the attention of, and appeal to the needs of your target customers.

9. Underestimating the Competition


Some business owners underestimate the reaction of the competition when they start their businesses. 

Any owner of an existing business that perceives that a new entrant to the industry will be taking away some of their customers, will aggressively take steps to defend their customer base. 

They could do this by lowering prices, offering package / bundle pricing, extending terms, introducing new products, improving product quality, extending warranties, increasing marketing activities, etc.

Do no underestimate the competitive reactions to the start of your business. You may find yourself in an extended competitive “war”. 

10. Not Cost Competitive


Before starting your business, attempt to obtain information about and to understand the cost structure(s) and selling prices of your competitors. 

You may find that your competitors have lower operating costs than you. Your overhead may be too high. Your manufacturing processes may not be as efficient. 

If your selling prices are the same as your competitors and their operating costs are lower, their margins will be higher. If that is the case and you get into a protracted price war with a competitor, you will not survive. 

You will have to find ways to reduce the cost disparity if you plan to last in this industry. The lowest cost producer will always win a price war. 

11. Lack of Attention to Accounts Receivables and Inventory


Some businesses owners do not pay attention to their receivables and their inventories. Accounts receivable and inventory can suck cash from a business. 

If customers are not paying you, or are not paying you on time, they are using your money. 

If you have excess inventory or slow moving or obsolete inventory, you have your money tied up in products that are of little or no use to your business.

Just as you should be monitoring the cash in the bank, you should also be carefully watching accounts receivables and inventory levels. 

12. Poor People Management Skills


Many companies state that their employees are their most important asset. 

Frequently customers do business with an organization because they like the people that they deal with in that company. 

If you do not treat your people fairly and with respect, you may have a constant turnover of employees. 

After a while, due to constant turnover, customers may become wary about dealing with your company. 

If your business requires employees with unique skill sets, it may become difficult to find acceptable replacements. If that is the case, quality and output may suffer leading to customer dissatisfaction and a decline in your business.

Treat your employees well and they will enthusiastically help to grow your business.

Top Great Small Business Ideas

Business Ideas, Uncategorized


Online store

You don’t have to be a big-box retailer to start an online store. Whether you sell directly to consumers or use a drop-shipping service, all you need is a website and the right e-commerce software to get started. You can sell your own products or items from niche suppliers. Alternatively, if you’re crafty, you can also sell your own handcrafted creations on ebay , flipkart or similar online marketplaces.


Event planner

Do you love throwing parties and organizing meetings? Start an event-planning business and turn your passion into a profitable small business. Everyone needs event planners, from individuals to organizations and corporations — and with the U.S. Bureau of Labour Statistics predicting 44 percent growth in the meeting, convention and event-planning industry between 2010 and 2020, there will certainly be no shortage in demand for your services. As an event planner, you will need to be resourceful and have a keen eye for detail. You will also need the patience to deal with clients’ demands and the Zen to stay calm during stressful situations and unforeseen disasters.


Home-based food services

If baking or cooking is in your DNA, consider launching a home-based bakery, personal chef or catering business. You can whip up your concoctions for individuals, events, and local businesses and organizations. Not only is it a rewarding opportunity to make money doing what you love, but it’s also a great way to test your culinary chops before investing in a full-fledged brick-and-mortar establishment. Keep in mind that home-based food businesses are heavily regulated, so start by figuring out the rules and regulations in your area.


Virtual assistant
Virtual assistants are all the rage. All you need to get started is a laptop and a good website. A social media presence doesn’t hurt, either. If you’ve got a background in administrative work but want to work for yourself, this might be a perfect opportunity for you. Virtual assistants work remotely and do all the things a business owner or manager doesn’t have time to do, such as open and answer emails, follow up with customers, invoice customers or pay bills. All of these tasks and more can all be done from your own home via the cloud. 


Social media consultant
If you’re one of those Gen Y types to whom using social media comes as naturally as breathing, you may have a career as a social media consultant . There’s no doubt that social media presents an unprecedented marketing opportunity for businesses, but only if they know how to use it. If you can help existing businesses integrate social media into their other marketing campaigns, you should have no trouble making a go of it. 

I am sure you will like this post. Please write your suggestion in comment box. Thanks