Second thought! Just in suit. YOU or causal agency you personally
know may fit the pursuing scene of success which may carry
too more than peril for solace.
You can sit pay for and but savor the day. Let tomorrow
take caution of itself. Can't you meet hear it? I've got my
money "salted" away in a uninjured point. Getting acute returns.
No risk! Where? I'm invested in the dot.com firms of
the rising..... recollect the splash that burst?
YOUR BUSINESS
Obviously, you get the element. There is undersized requirement to bang
the dot.com failures. Our dream is YOUR company. Your
future expansions for development.
EXPERIENCE is an dear instructor. There are BETTER
resources. Some of us have bookish in the School of Hard
Knocks. At most minuscule YOU can purpose by knowing whatever of our
mistakes which we gladly throw light on for your perusal.
Yes, utmost of our mistakes were NOT cagy. Could have
been effortlessly rectified. Most 'goofs' are so writ large AFTER
the information it's sticky to archer everybody.
DIVERSITY Is KEY -
Is that retributory a pleasant "sounding" word? Only to those who
FAIL to understand it's HUGE impinging. SUDDENLY! Almost
an Overnight kick.... your fiscal cured anyone can be GONE.
Many of us have been here. All of our concern LINKED to
ONE information. Are you in that part now? I perceive you loud
and vivid. You are saying, "I'm devising goodish cache and
business is wonderful. Why should I change?"
If that is the case, YOU are NOT in cartel. Unless you
have a provision or goods in need equal or competition, YOU
are at speculate. Simply ask... if my ONE bargain hunter or my chief
customer GOES AWAY day... what happens to my
business?
Are your gear debts intuitively guaranteed? Is your
home at risk? Do you have a long-run department/warehouse
lease? Bank loans?
OUR EXPERIENCE
Yes, I was lucky and survived. At the time, I had various
businesses not dependent on respectively some other. Regardless,the contact and daze turnover loss was historical.
For 10 age it was breathtaking. Profits were basically
guaranteed. A leading Insurance organization necessary "outside"
typists. Large companies do out of the ordinary material possession. Head-count!
Move support (human resource) charge to "service" overhead disbursal.
Situations change! Buyers of services RETIRE. Management
gets promoted to a new position. Offices unify.
DOWNsize. UPsize. Go out of business! Bankrupt yet static
oweing you finances that will ne'er come in.
Most of the preceding happened! Our "connection" captive. I
had no thought the people was active to unexpectedly NO LONGER
need our employment.
It's on circa us all day. Technology! Yesterday
is absent - precedent. New distance of doing business. Automation.
Push-button society. Home based employees.
In a FLASH! ONE day! Our enterprise (95%) was away. We had
NO requirement at all until that time the doors seal in our face.
WHAT COULD HAVE HAPPENED?
To capsule, we were able to use the implements in our other
businesses. Our letting on the opportunity had NOT been renewed.
Our own staff was transferred inside. We lucked out!!
However, I "shudder" to conjecture of the consequences that
could have inhibited supreme kindred out of enterprise.
Had we autographed other 5-year lease, the sum would have
exceeded our PROFIT for the antecedent 10 eld.
Equipment leases would standing dangle complete our heads.
Staff? Their jobs would have been gone in a flash.
YOUR CHALLENGE
Step rear and fix your eyes on conscientiously at your concern risks.
Don't guess thing. Your "good old" boy framework has
NO guarantees.
Make DIVERSITY your #1 precedence in 2005. Add new clients.
Add new products. Quickly lessen your RISK away from any dominant entity. Seek to net 10% a TOP column highest
dependence on any one source of takings.
Large buyers have been prearranged to occupy ALL of a major
manufacturer's crop. As an sharp-witted business concern executive, YOU can see the END in glance. Don't let it occur.
Your end user now CONTROLS your enterprise. Profits are no
longer your mind. Expect the "squeeze" to intensify!
Too often, we can't see the reforest for the trees. Same
experience happens to a undersize service business, too.
ACTION TIP: Best proposal is ascetic. DIVERSIFY! Never allow
ONE purchaser to OWN your business organisation. 10% is a neat MAXIMUM for any
single emptor. Reduce YOUR danger. Add new clients or new products as summarily as thinkable.
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