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Do You Want To Fulfill Your Dream ??!!

Do You Want To Fulfill Your Dream
Do You Want To Fulfill Your Dream ??!!

Do You Want To Fulfill Your Dream ??!!

Hey dreamers out there welcome to the world of business and lac, there are long roads to take to become any of those two choices but to gain them you have to tie them together they both have this relationship that is unbreakable so don’t try either alone. Always set your goals and properties first to reach the best outcome at the end. So your probably wondering how would you do that well that simple first you need to know what an entrepreneur is and does that’s what you I’m here to clarify for you….

An entrepreneur is simple words is the man of the hour is one who creates a new business plan in facing the risk of both profit and growth by identifying opportunities and putting it all together nicely in one big enclosed business, how did these so called entrepreneur become like this it because first they studied at a business school and managed to get themselves a business degree in order to be implementing and formulating business plans.

Do You Want To Fulfill Your Dream ??!!
Usually all entrepreneurs have this way of talking some people call it there theme but I see it as there style, it includes uniqueness, class, demand, persistence,innovation, and growth. Even at the time of trouble they have to be calm and have strength to make more solutions than disaster. There main characteristics are put into consideration of course such as there desire for responsibility, preference of moderate risk, being confident, high level of energy, or their value achievement of feedback and money. These are the rules to being in business and having that dream you always longed for.

But be careful as much as it all seems nice there are some down falls if you mess up I call it the NINE DEADLY MISTAKE RULE – “STAY AWAY”

Do You Want To Fulfill Your Dream ??!!

#1 Management Incompetence ( the most important thing is your managerial skills and knowledge don’t ever let them doubt you make your goal and set your plan in action)
#2 Poor Financial Control ( if you know that you can’t handle a business that requires loads of money make a smaller version and be prepared for all kinds of financial interruptions)
#3 Failure to Develop Strategic plan ( before you have an idea think of the plan and analyze it from different perspectives don’t hold back on your imagination)
#4 Uncontrolled Growth ( if a problem appears and you feel like it is all going down the drain remind yourself you have to rise above the situation make a back up plan and implement it)

Do You Want To Fulfill Your Dream ??!!

#5 Lack Of Experience ( always start small before going big, so you would understand how the game is played correctly, if you don’t want to turn out the one being played)
#6 Poor Location ( location is a must if your in a good location no matter how small your business could be it still could provide a pretty good income for you )

Do You Want To Fulfill Your Dream ??!!

#7 Improper Inventory Control ( check your inventory daily because you have to keep that when your customers want something they want it now, you always have to have it in stock)
#8 Incorrect Pricing ( before you start check out the people selling around you the same products you are or substitutes to yours in order to make the right price decision you don’t want to be too expensive to drive people away)
#9 Inability to make the “entrepreneurial transition” ( meaning if your not sure that you could handle the pressures of being an entrepreneur then turn it into a small business till your ready to climb that ladder )

Do You Want To Fulfill Your Dream ??!!

That about explains everything you need to know about being a high class entrepreneur just listen if it never works out big go small till your sure so you wont waste alot of time and energy into something not worth the time.

What Comes to Mind when You Hear….

What Comes to Mind when You Hear....

What Comes to Mind when You Hear….

I’m here to ask you this time around I’m tired of answering and i have a few questions that i would like an answer to: As a business owner you consistently have to keep asking yourself a billion questions over and over again, its endless chain because the world around you isn’t stable, what are some factors that could cause you to be confused all the time?, why don’t you just stick to one plan instead a million?, who out there has to deal with all the changes you deal with, how do your customers feel, or where does your mind take you when you here Operations Management?

well while you answer in your own way i have a theory as well, The factors that change around us aren’t limited they can include products, services, consumers, time value of money, or competitors etc.. sticking to one plan means you’ll never flourish to get that opportunity of a life time to rise with the market but instead you’ll find yourself in debt after a while…your consumers make the change for you people dealing with it are like me and you business owners or just competitors…your customers will always have a specific vision in their heads that you might not be able to achieve but that’s okay because they always have a backup image the one that you make for them with a price to fit their needs.. thinking of operations management i know i put my foot into a big pile of products and service adjustment and changes.

So what is the solution you ask its simple, read about operations management and be careful with every stage because they all complete each other like a sort of cycle that turns round and round, Operations Management is the part of your organization that is responsible for producing goods and services, it also traces feedback from consumers to see the level of satisfaction they are at, so they can improve quality and cost. There are Three main steps for operational management Design, Operation, and Improvement of productive system…

Design is the number one aspect in a products feature, along with packaging there the first impression for the product if the wrapper of a candy has two people killing each other on it would you rather buy that or buy a regular candy bar with a shiny package, for me i would go with the second one maybe many people may not agree with me on that but almost 95% of the population would, its described as the plan to reach the consumers hearts and the firms goals.

Operations as the second step it falls after design placing number two on your to do list, the operations here refer to the management of the product phases from top to bottom are also referring to the look out for competitors and it doesn’t stop there be aware of the time value of money along with comparison to you competitors try to always be the middle price.
For example: lets say there is a coffee maker at store x for 10 dollars and at store y its for 11 dollars then you fall in between you sell yours for 10.5 dollars.

Improvement of Productive System the last and easiest step to do, here after all the hard work is done and your product is in the market you should look out for feedback actually you should go look for it yourself, after feedback from your consumer comes back you take that feedback put the good in a pile and the bad in another after sorting them out turn the good into excellent and then the bad into good, and that’s how the process keeps moving for each product you distribute.

For More information about Operations Management check in again I’ll be adding some more great information and advice.

The Signs That Lead To Change

The Signs That Lead To Change

The Signs That Lead To Change

Do you ever get this feeling like you have a hunch on something and you want to explore more of it to make sure that your following the right track, or your just trying to figure out where it will take you sort of investigate, well the number one aspect to check out is how deep your understanding of the firm’s incentives. What are incentives you ask they play the most important role in your business/firm because they answer two main questions:

– how resources are utilized
– how hard individuals work

If you construct proper incentives that will help you enhance productivity and profitability, because its your firm’s base which should be done properly with the best managerial help. This usually provides profit signals it helps managers make a forecast for themselves, that if your product is expensive then it should fall in the highly valued society category which could help more and more industries start flowing in to that society.

As a manager who directs resources and designs incentive schemes you should be aware that there are many types of different profits such as Accounting profit it is considered the explicit cost of resources needed to produce goods and services which is the difference between sales and product cost which are always reported in the firm’s income statement,Economic profit which is the difference between revenues and opportunity cost, and by common sense opportunity cost is the cost of implicit and explicit resources that are foregone when a decision is made.

Managers have a very hard time drawing up economical perspectives such making goals depending on the countries economic status by trying to figure out what is available and what isn’t which is so confusing that’s where the science of managerial economics comes in, to be good at such a field you have so many preparations to make because managerial economics in brief is the study of how managers can achieve goals under a given set of constraints.

The majority of managerial positions is they always make the same mistake they look at the worldwide forecast hoping to change something in there strategy to fit with that when they could just make simple identifications of goals and constraints, to the types of decisions made in economics are sound decision meaning based on what you hear to decide upon what to maximize and minimize which always leads to making the right decisions, the other type is strive decision based upon ambition and willingness to achieve a goal , even when facing measure scarcity constraints.

Put in mind that Economics is used in every little inch in our lives and that you should try and tie with all the things you know because a business is nothing without a manger and definitely managerial economics.