|
Unlike the past, world around us is changing by the second. The technology is leading the change that affects all aspects of our life. A new technology changes our economic conditions ( some jobs and business become extinct, some new jobs and businesses models are created etc), such economic changes affects our lifestyles ( likes, dislikes, relationships, priorities and preferences), and such lifestyle changes affects the law, taxation of the country; so on.
So to win in this fast changing world, we simply have to forget many things we learned in the past; forget many rules we lived by; forget many comfort zones we had; forget how we had relationships maintained. This is not easy, if you hate change. In fact those who hate change are definitely going to fail. But if you are pro change and actively monitoring things happening around you, and ready to accept it, then you can adapt well and win. This is how you unlearn what you had previously learned; and learn new things always. Clarity of Thinking is important for Right Decisions. If you can't do it by yourself, engage experts to help you. Best of luck for you and your enterprises! Business Insights by Ameen Ahsan @ Ameen Ahsan Strategy Consulting 7558-900-800 | www.ameenahsan.com 7th Floor, Hilite Business Park, Calicut Business Consulting | Feasibility Studies | Project Reports
0 Comments
There are two types of businessmen. One is focused on only earning enough to maintain his family. He is not interested in growth. He only wants to survive in a changing world- "~The Jeevichu Povatte Mentality~". They focus only on "Survival Thinking". They form associations to oppose any new development, technology or law. As they are always afraid a change will force them to change. They have basically employee mindset and not an entrepreneur mindset. They will not grow. Even their children might not be interested in continuing their business.
Then there is the Entrepreneurs who think of growth, expansion. Even when they are a startup, or struggling to be profitable. They have a big picture. They have a vision- even if it is unclear. They accept any change that is caused by a new law, technology or other ; and find out how to make best use of it. Their businesses continue and grow for many years, and even their children will join them. Change your thinking from Survival to Growth. Clarity of Thinking is important for Right Decisions. If you can't do it by yourself, engage experts to help you. Best of luck for you and your enterprises! Business Insights from Ameen Ahsan Strategy Consulting 7558-900-800 | www.ameenahsan.com 7th Floor, Hilite Business Park, Calicut Business Consulting | Feasibility Studies | Project Reports We see them in almost all organisations / businesses. These are employees who work for the sake of salary alone. They do what they are told. And they don't act even if they see a need to, unless ordered to. They are disconnected from the general vision, general problems of the business. They don't use their brain or heart for the business.
You can easily identify them by just looking at them. Or watching how they work. These are not the right employees and you need to change them or replace them. But what made them so? Most businessmen will run to find a good HR trainer to "repair" their staff. But before you do that, do a check on yourself. Did you make them like that? by, + Not giving them any importance + Not appreciating their ideas and suggestions + By insulting them + Not trusting them with higher responsibilities + Not having a vision yourself + Not following ethical practices that they stopped respecting you The list goes on. So first make sure you are not the reason. Then make sure their immediate manager is not like that. If so, be the change first, then employ an HR trainer. If you are ok, but they are still so. Replace them with passionate people. Best of luck for you and your enterprises! Business Insights from Ameen Ahsan Strategy Consulting 7558-900-800 | www.ameenahsan.com 7th Floor, Hilite Business Park, Calicut While making decisions we often make the mistake of assuming that the most "popular option" is the best option. But it need not be so.
Things, People, Brands become popular because they are known to the public, because they advertise more, or are old enough in the market or due to a zillion other reasons. But that does not mean, a better option is not available. It might be just not be that popular. How does this affect us? We end up Not buying a better raw material, not buying better machineries, not hiring the best services, ... In Short taking the wrong decisions, that can cost us opportunity costs or cost us net profits or cost us a competitive edge. So don't select a product, service, option or decision just because it is what everyone prefers, but do it after studying properly all other options. And select the best (need not be the most popular) option, to be more competitive. Clarity of Thinking is important for Right Decisions. If you can't assess these facts by yourself, engage experts to help you. Best of luck for you and your enterprises! Business Insights from Ameen Ahsan Strategy Consulting 7558-900-800 | www.ameenahsan.com 7th Floor, Hilite Business Park, Calicut While making decisions we often make wrong assumptions. We assume the future is going to be moving in certain directions based on what we "feel" about the "market trend".
For example, we see some 5 businesses giving Rs 1000 per Rs 100,000 investment every month, and it's been going on for few years... and we make wrong assumptions such as, 12% return per annum you can get from any business, or this model of "fixed profit" is possible for any business, or that these profits are calculated correctly etc. Or the number of gents boutique shops are increasing in the market meaning that there is a growing demand for gents boutique; etc Nothing can be true. We realise it was a stupid business model only when each of these business start to fall , one by one. When making decisions, humans try to predict future. They predict future by looking at past and present trends. But trends may not reflect true state of affairs, unless it's backed by proper studies. Studies might bring out not so beautiful facts. So don't go by assumptions based on wild guesses or general "public" opinion. Base your future prediction based on assumptions which are based on right studies. Clarity of Thinking is important for Right Decisions. If you can't assess these facts by yourself, engage experts to help you. Best of luck for you and your enterprises! Business Insights from Ameen Ahsan Strategy Consulting 7558-900-800 | www.ameenahsan.com 7th Floor, Hilite Business Park, Calicut Does joining IIM or Harvard make you smarter? Does using certain branded cosmetics make you a model? Does swimming everyday make you tall and athletic?
Or is the truth .... Only the Smartest people get into IIM and Harvard, as a result, the outcome is always smart? Cosmetic ads you see, are by models so they look great? Only tall and athletic build people can be great swimmers? This is an important aspect for business. Half of advertising would not exist if this illusion did not exist. This illusion is also created by branding. Now decision makers need to make sure, they do not fall into this trap. If they do, like many thousands they will not get the desired results, but keep spending their time, money and effort for this illusion. So what to do? Don't go by what you hear from advertisements, peer pressure, general "trends" or even "most" success books! Assess the facts, know who you are, know your Strength, Weakness, Opportunities & Threat, and act accordingly. Don't use other successful person's life as your "Life's Template". Clarity of Thinking is important for Right Decisions. If you can't assess these facts by yourself, engage experts to help you. Best of luck for you and your enterprises! Business Insights from Ameen Ahsan Strategy Consulting 7558-900-800 | www.ameenahsan.com 7th Floor, Hilite Business Park, Calicut "Survival Bias" means the misunderstanding that like many successful businesses, your new business will also grow into a big business.
This is the hope and inspiration that makes thousands of fresh entrepreneurs join the startup club. But the dark truth is, large percentage of startups fail and are dead in cemeteries within few years of starting up. And many of those that survive, survive with small profits and small size (drag on). Very few make it big. But the media reports only about successful businesses, and gives you a feeling that most people succeed and you should also succeed. Bus does this mean we should NOT start a new venture? You should start, but with proper preparation. You should be aware of "Survival Bias", and not take things lightly. 1. Do your research well about yourself, your market, your customers and your competitors 2. Design the best business model 3. Formulate the best Strategies & Action plans 4. Ensure its financially viable even in Average Case Scenarios If you can't do it. Engage professionals. Best of luck for you and your enterprises! Business Insights from Ameen Ahsan Strategy Consulting +91-7558-900-800 | www.ameenahsan.com 7th Floor, Hilite Business Park, Calicut Please share to all Entrepreneurs & Management Graduates Most of us are aware of others mistakes, but rarely know what is wrong with us. Even if we do know some "wrongs" with us, we tend to find some excuse or it is linked to some other person or other happenings.
This can be very dangerous for an Entrepreneur. Unless he knows what is wrong with him, how can he solve it. If left unsolved, it can result in operating losses, loss of profit opportunities, diminishing competitiveness, wrong culture in the company etc. But how can you know what is wrong with you? Ask your team, staff, customers... They are the once who sees your errors better than you. And what ever they say take it positively. Don't give them excuses and explanations. Once you get the list of "wrongs" that you do, make a priority list. Then an action plan to solve each error one at a time. This way, you get to be a good entrepreneur. Best of luck for you and your enterprises! Business Insights from Ameen Ahsan Strategy Consulting +91-7558-900-800 | www.ameenahsan.com 7th Floor, Hilite Business Park, Calicut Please share to all Entrepreneurs & Management Graduates Be Extra Ordinary
Extraordinary situations brings out Extraordinary men. So Dare to do extraordinary projects, businesses; Dare to bring out extraordinary innovations, inventions, products and services; Dare to give extraordinary experiences to your customers; Dare to follow an extraordinary Business Model! Best of luck for you and your enterprises! Business Insights from Ameen Ahsan Strategy Consulting +91-7558-900-800 | www.ameenahsan.com 7th Floor, Hilite Business Park, Calicut Please share to all Entrepreneurs & Management Graduates Money is an important part of an business. Most people will need external funding to start a new project, or to upgrade existing one or for growth.
But in our desperation for getting investors we should not forget there are two types of investors - the good and the bad. Bad investor is one who will ask to make difficult promises and commitment, who will expect your business to never fail, who is too suspicious, whose return on investment expectations are unrealistic, and importantly someone who does not respect you (there are investors who look down upon the people they give money). Avoid them, ignore them. They will only make your business fail. Good investors are just the opposite of the above. They will support you in good and bad times. Go for them. Best of luck for you and your enterprises! Business Insights from Ameen Ahsan Strategy Consulting www.ameenahsan.com Please share to all Entrepreneurs & Management graduates If you wish to get our message direct, then save our number +91-7558-900-800 and whatsapp us your "Name", to join our Broadcast List. *Note: Our n NEW OFFICE now open at Hilite Business Park (7th floor),Calicut; Sat n Sun off* |
RSS Feed