Business and decisions related to Entrepreneurship are more about gut feelings. After learning so many things about entrepreneurship one can easily come to know that, each entrepreneur take some and the other decision on intuitions. In fact decisions taken because of gut feeling eventually turnout to be very good decisions...
A magical solution does not exist in Business. If one wants to drive business to make it more productive, one should have willingness to face tough realities and make tough decisions. Manager of the business needs guts to stick to BIG objective and confront other significant problem. Most of the people in the organization are going to have fear for the change, but this should not deceive managers from taking tough decisions....
30th December 2009 comment Read fullEntrepreneur has different views, different motivations, various ways to look at same kind of problem. I feel every entrepreneur wants to do something different in a different manner. Building his/her own way. If we just look at today's entrepreneurs they have came up with their own ways for business. Its like "I never bothered about how other people do the business, this is my way of doing business, and I will stick to it."....
"Less Is More" by Jason Jennings, book cover has a tag line "How Great Companies Use Productivity as a COMPETITIVE TOOL in Business". This book is really worth reading. Everyone in Business want to increase productivity- more output and less input, lower cost and higher profits. "Less Is More" is all about how to increase business productivity by keeping lower input cost...
Does school prepare children for the real world? "Study hard and get good grades
and you will find a high-paying job with great benefits," my parents used to say.
Their goal in life was to provide a college education for my older sister and me,
so that we would have the greatest chance for success in life....
This is how the "Rich Dad Poor Dad" books starts with. "Rich Dad Poor Dad" is concentrated
mainly on two questions.
"Stay Hungry Stay Foolish" is One of the Best Book I have ever read on the topic of Entrepreneurship. This book actually gave me inside out of management and the kind of thinking involved by each entrepreneur to handle and solve the problem and tackle the situation. Its not money but it is some internal force to do something different which drives entrepreneurs...
26th December 2009 comment Read fullCurrently I am reading book named "Less is More", and following is something I really liked about the productive comapnies, I will put more from this book
- Revenue Per Employee - This measueres - arrived at by divifing total sales by the number of employees- speaks volumes about a company's ability to efficiently market and sell its goods.
Some companies use ploy to inflate their sales per employee numbers. They fire employees and rehire them or others as a contracted workforce. It looks good on paper but it didn't get past us. We conunted the workforce numbers of all the companies we eventually profiled to make certain they were accurate and we tallied part-time employees and proportionately conunted them as full-time equivalents. - Return on Equity and Return on Assets - The percentage return on a company's net worth for a given period tells shareholders how effectively capital is being employed. E.g. it a company's net work ( asset less liabilities) is $5 million and they earn $1 million a year, their annual return on equity is 20 percent. During our research, we analyzed many companies that earned substantial profits and provided competitive returns on their stockholders' equity. But some of the returns on equity we unearthed were mammoth by comparison to industry or business averages, indicating that these companies are far superior to their rivals in either their efficiencies or their productivity. Similarly we reviewed a company's return on assets and only the top performers made our final list.
- Operating Income Per Employee - When comparing comapnies, net profit numbers can be misleading: they're affected by differing national tax rates and othen include a myriad of one-time charges or credits that may not be a reflection of actual income from operations. So we decided instead to use income from oprtations divided by the number of full-time, or full-time equivalent, employees, which seems a much better indication of a company's productivity. This criteria gives an edge to companies that pay their workers poorly, are notoriously cheap or beat up their suppliers on a regular basis. While this books is about doing more with less and not about being nice or winning popularity contests, we also believe the marketplace is ultimately fair, rewards value and punished bad operators. We required our chosen companies to have proven themselves by having been in business for ten years or more, which should mean we got rid of the chiselers.