Business Ingenuity Helps you Rise to New Challenges
August 21, 2009
Good old summertime is a quiet period in the tax business. So I take some time to reflect, plan and brainstorm on business practices, tax challenges and the everyday grind that business owners face all throughout the year. I read articles online and in business journals about business owners who are reviewing all facets of their business to stay ahead of the curve and remain successful in these economic times.
Many business owners are taking action to re-invent their business and they are working in a spirit of co-opetition or cooperative competition. A common feeling among small business owners is isolation as they struggle to reinvent their business alone. Some of these business owners have arranged informal meetings with other business associates to talk about marketing ideas, accounting questions, share business leads and brainstorm new ideas. I find that working in a group is a very effective way to stay fresh and focused on business strategies. I meet with a group of small business owners, called Biz-Connect, every Tuesday morning in my community. We set goals together, talk about what works and share information about our successes and struggles. I find this weekly session works well to lift my spirits and keep me focused, sharp and prepared.
The internet is a rich source of business information and provides a venue for sharing strategy and ideas. The website BizNik.com has the subtitle “Going it Alone, Together.” It is a site where entrepreneurs share ideas on a daily basis. Users post articles on their area of expertise and can post business events in their area. The key is to stay involved with other business owners in your own community and online by exchanging ideas and helping each other.
In summary, you can create a successful business by reaching out to other entrepreneurs in your area. Learn from them and also share with others what works for you. This exchange of mental and emotional support will bring more business to you and to me. It is all about sharing and leading and watching out for each other.
November 11, 2009 at 10:13am | Permalink
I with you agree. In it something is. Now all became clear, I thank for the help and I hope to see more such articles.
May 21, 2010 at 5:50am | Permalink
Networking with others that share the same interests is always a great idea. Thanks for the post.
July 30, 2010 at 8:01am | Permalink
Thanx for this post. It could really help me with my usiness. And I agree, we can create a successful business by reaching out to other entrepreneurs.
September 6, 2010 at 8:10pm | Permalink
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September 16, 2010 at 1:58am | Permalink
This is really interesting article about business and especially for small business owners.I’m doing small scale business without any partnership.Some times i could be thinking about reinvest.Here i got some informative information about it.
September 16, 2010 at 2:01pm | Permalink
There are various different types of business meetings. They range from everyday office meetings and board meetings to seminars and product presentations. Communication is the primary backbone of any organization. Effective communication between members favors the smooth and efficient functioning of an organization.
November 24, 2010 at 11:37am | Permalink
Staying involved with other businesses in your community sounds like a nice way to help you business keep from stagnating.
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June 22, 2011 at 11:44pm | Permalink
Seriously, the people that say this are so stupid. It’s sounds like the kind of arrogant thing a high schooler, college kid or trust fund brat tells people. A business requires a lot of hard work, ingenuity and plain luck, and the failure of one can make life very hard for the person involved. A lot of businesses fail, and a lot are started up and run under very shady circumstances.
June 28, 2011 at 11:40pm | Permalink
PLANNING Your finances are more important than other part of your operations. No money no business. Do your projections and follow them, Correct them as you go along.
July 1, 2011 at 2:49am | Permalink
A free market economy encourages competition, productivity, wealth and a rising standard of living. In a free market system there will be modest profits, not massive profits. When a certain business becomes very profitable, competition will move in and lower profits.
July 13, 2011 at 3:47am | Permalink
We can strive to lead good respectable lives trying our best to help those worse off than ourselves and teach our children likewise.We can work hard at everything we do and show a good example to others.Respect seems to have disappeared from our society, it needs to be taught to our youngsters as things are on a downward slope and I’m glad I wont be here to see the state of this country in a few decades time.
July 25, 2011 at 12:14am | Permalink
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by framing challenges in broader, more integrated terms, we can design solutions that solve multiple problems simultaneously. An interesting example is the recent Imagine H2O competition that sought to identify breakthrough business ideas addressing the water-energy nexus. Approaching these challenges in a more holistic way can spur a new wave of innovation and entrepreneurship, especially in regions with rapid infrastructure development.
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The identification of skills and competencies essential for leadership going forward: This is a specific, well researched process with milestones and goals. Establishment of internal training programs to develop employees with these skills and competencies. Mentoring programs need to begin now as the transfer of skills is a long term process.Hire “engaged employees” from outside the organization.Those who bring enthusiasm, energy, innovation and commitment.Consider reassigning or discharging those individuals currently in the leadership track who are not capable of the transition to positions of greater responsibility and accountability.
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September 8, 2011 at 10:04pm | Permalink
Ha, excellent concept! I read this articles online and in business journals about business owners who are reviewing all facets of their business to stay ahead of the curve and remain successful in these economic times. Thanks mate!
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