UNDER RESEARCHED...

There are lots of people seeking to get into a business. Conversations with many of them will reveal that these people have some pretty good business ideas.

Further discussion can be quite the insight into the fact that there are more ideas available than the research that goes into them. In short, many of the businesses are not where they should be in terms of the research that's necessary. Therefore they are totally unprepared for the hiccups.

In business, you cannot be myopic only planning for the perfect picture that you have visualized that business will happen exactly like that daily. Once you are alive, storms will come through ever so often; sometimes earlier / later. There's just no sure-fire formula.

How do you ensure that your business is shovel ready? In other words, if you were being processed right now to access funding for your business, have you eliminated all of the setbacks that can halt the process? Should you get the funding right now, how fast can you mobilize to implement what you requested the funding for doing?

When business owners are asked to present about their business, and they are cross-examined, it is when many realize that they are not as prepared as they thought. Sole proprietors suffer most with this as they have not built a team which would enable them to benefit from another perspective.

Do you know the following for your business? Here are some questions that will need to be answered regardless of what business you are in:

• How much money do you need to begin your business on the right scale that would enable you to meet your objectives head on? 
• If you have to get investors, what are you willing to offer them / receive from them as a part of the total investment package? 
• Do you know how investment/financing works and recognize the differences among them? 
• Who forms a part of your team and what experiences/influences are they bringing to the table that can enhance your business and enable it to gain traction in the market? 
• Do you have a full complement of professionals that you can access? [accounting, financial, legal, marketing, business advisory services, operations] 
• How will you handle shocking changes in your business' environment? Especially those that weren't considered in your SWOT analysis. 
• Do I, as an entrepreneur, have what it takes to orchestrate this and where can I quickly find help? 

These seven are not the only questions, however, they are key considerations for your business' development. 

Well....do you still think that you have the best business concept, or do you still need to put in some more work? How well do you know your business and the industry within which it will function? Do you know that you will not have all the solutions, and who are you willing to partner with to arrive at the necessary solutions? 

Always keep in mind that not all money is good money. Don't get overconfident in your dealings with the members of the public you serve.

Remember that the research you put in is not a one-time effort as your environment is always changing. Your research needs to keep up to date lest you become extinct. 

Think in terms of possibilities. You were given that idea download for a reason; how best will you exploit it? Looking forward to reading about your lessons learned down the road. Plan to be the winner you set out to be. 

Customer Service used to be just Service

On occasion I have the opportunity to wonder about a few things that years of experience have granted me the privilege. One that comes to mind was Service; where did it go? Why was it so lacking nowadays, and who's this new Customer Service that though qualified academically does little when compared to the natural capabilities of Service? Here are a few thoughts about what I mean:

• Nowadays we get hospitality degrees and designations of varying sorts, yet seem unable remember encounters of those we've met in the last week. Despite the various devices, communication and other sorts, we seem incapable of remembering little details of our customers. How come that those of the older era who didn't have the tech aids and were able to remember the names of people, families, their likes, and some favorite activities? The older era didn't count the time they were with a client. Service was not given in exchange for something, only as a means of helping another feel more comfortable in a more inviting atmosphere. The result was higher value in the minds of the customer. 
• Attitudes that have developed by the work force that they only seem to seek support when their jobs are threatened are archaic; we have a responsibility to people! Regardless if whether they are seen as customers or fellow workers just to name a few. People are important! 
• Have we forgotten the "magic" words? [good morning, good evening, please, thank you] 
• There's also the rising trend of people having to refer to their sexual preference to determine their ability to work. I mean who really cares who you sleep with? The real question is can you do your job?! This coming out business, is really no one else's business but your own. Keep it there! It's not a badge of honor about your level of competency on your job. 
• Pay attention to detail - serving beverages and food in a sloppy manner in a huge NO! A lot of marketing dollars can be saved when you take the opportunity to serve people that you have in your presence well. If you're superior, they will return for a repeat experience. 
• A sour face, with the attitude of people accepting you as you are is tantamount to suicide. You really can't seriously expect to be mean, rude, and all the other adjectives that I can't publish; and then expect people to want to do business with you. 8 hours per day is a third of a lifetime, shouldn't it be enjoyable? Man has but a short time to live. 
• Let's look at no only enhancing customer service, but enhancing service. We would find that not only do we please others, but we can be quite pleasant to be around. The result can be in more people wanting to be in your company and doing business with you. 

Have a wonderful day folks! Let's look at the totality of the service we offer - regardless of where we work and live. 

Starting a business....are you serious?

Entrepreneurship is a word that's touted about a lot these days. Everyone seems to want to begin a business of their own, and who can blame them. There are certainly better educated, greater connected, and have more resources. However, you can imagine the questions that come to mind when we look at todays businesses. Let's look at a few.

• Why do so many of them fail?
• Do we really know why we want to be in business?
• Have you thought out the process well?

Let's stop at these three. Since these alone can take quite a bit of time. Let's look at them succinctly.

Businesses fail due to:

• Being under capitalized
• Poor operating systems 
• Weak marketing & sales 
• Poor accounting & cashflow management
• Weaknesses in human resources - training deficiencies
• Lack of discipline and planning
• This list is not exhausted

We want to be in business for a variety of reason

• Some don't want to work for someone else
• Others just want to be their own boss
• There are still others who just want to be creative and can't be bothered with much else
• Many want to make money that they can spend as they wish
• They saw someone do it and it looked easy
• Many don't like their current bosses 
• Some want to genuinely make a difference in the lives of others with their product / service
• The reasons are endless 

We thought

• This would be a walk in the park
• This much strategy was not required
• We could do it ourselves without much expenses or help as we know our field
• Why did we leave our jobs, we had it made when we got our payment from where we were employed (and, we didn't have to work as hard)
• We didn't want this much work, just more money. 
• We didn't have a vacation since leaving our last jobs and we don't have money to go on vacations either 
• If I had only known better, I wouldn't have left 
• Well, we're too committed to turn back now. 
• If I could do this all over again, I would do this so much differently

Business is never easy. As one friend put it, you have money problems either-way - too little / too much. There are many who believe that they wouldn't mind having too much money. It is often heard said, I know exactly what I would do with that money if I had it. 

So are you serious about starting a business? If not, please don't. It would be more trouble than profit. However, if you are, then you need to make contact with someone like me in your area. There are plenty great consulting resources out there, and they are some that aren't so great. You must do your due diligence. 

So starting and expanding a business, especially when you are serious can be quite rewarding. Surround yourselves with others who have achieved some of the things you desire - learn from them taking the good and leaving the bad behind. Yes you'll find many have flaws that make it difficult to work with them. Be prepared to endure, so that you can enjoy.