Every business owner should make sure to prepare their personal disaster recovery plan. This plan should say what happens to their business when something happens to them. No one wants to think through the things that can happen. Death is the obvious one, but what about an extended illness, even a short term illness, or,
What should our reaction be when a vendor has an issue? Some people would say we should react strongly, move on to another vendor, get angry, etc – lots of reactions out there when any vendor has an issue. While we can’t just pretend it didn’t happen, we can respond appropriately and act as a
The Law of Value: “Your true worth is determined by how much more you give in value than you take in payment.” That is not the normal wisdom of the world. Life is about giving without any concern to what we will get in return. The Law of Compensation: “Your income is determined by how
What do we need to do if you’re struggling financially? Adapt and change. Here are a few thoughts for consideration. 1. We need to evaluate how our cash leaves and enters our company. Can we cut some outgo or speed up some inflow? We need to watch cash because those who have it will win.
1. Stop pointing fingers. We are prone to do that. Blame somebody, anybody for any problems or bad situations we’re in. But if you are continually focusing on how bad something is, it won’t help to fix it. We need to find the things we can focus on that are good and start working together