Great Minds

Managing your finances and relationships #GreatMinds

/ Business, Great Minds, Motivation

If you want to live a very comfortable and satisfying life, it is extremely important that you manage your personal finances very well – be it your earnings, expenditures, investments, and risks. This apart, you must also work on your knowledge management (learning orientation) and relationships (networking) skills. Develop a conducive eco-system which supports your personal and professional goals.

Here’s what Warren Buffet, American investor and business tycoon, has to say:

WHAT DO YOU THINK?

Let me know in the comments section.

In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

Managing your finances and relationships #GreatMinds Read More »

The importance of a mentor in your business #GreatMinds

/ Business, Great Minds, Leadership

Young entrepreneurs from SMEs and traditional business families should be encouraged to welcome knowledgeable consultants and experts and should be open to using their knowledge and experience in developing and fine-tuning their businesses. They should be open to invite and opt for senior members from business and industry with relevant experience (and/or subject matter experts from academic institutions) for representation on their boards and/or subcommittees of the Board. 

Here’s what John C Crosby, an American politician, has to say:

WHAT DO YOU THINK?

Let me know in the comments section.

In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

The importance of a mentor in your business #GreatMinds Read More »

Planning is vital for success in business! #GreatMinds

/ Business, Great Minds

An entrepreneur must work on the development of a sound and robust business plan to succeed in his venture. S/he must meticulously follow this business plan all through the implementation and operational phases of the business. Whereas a competent entrepreneur can create a wonderful business even from an ordinary business plan, an incompetent one can ruin even a first-class business plan with no worthwhile outcome.

Here’s what Warren Buffet, American investor and business tycoon, has to say:

WHAT DO YOU THINK?

Let me know in the comments section.

In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

Planning is vital for success in business! #GreatMinds Read More »

Know your customers! #GreatMinds

/ Great Minds, Marketing

Whatever products or services you have decided to offer to your customers must be sourced and/or designed, created, or manufactured keeping in view the fast-changing needs, choices, and preferences of your prospects/customers. It is important here to understand and appreciate that customer needs and wants are dynamic and are changing at a mind-boggling speed. Business managers and marketers will therefore have to keep a frequent tab on the market pulse through necessary market research, customer feedback, and surveys so that they can keep their offerings in tune with the changing customer requirements and preferences.

Here’s what Seth Godin, American entrepreneur, author and public speaker, has to say:

WHAT DO YOU THINK?

Let me know in the comments section.

In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

Know your customers! #GreatMinds Read More »

Accept, Avoid, Reduce and Transfer your Business Risk #GreatMinds

/ Business, Great Minds

Entrepreneurs face business risks in whatever they do – new product development, manufacturing, marketing/selling, profit-making, wealth creation, and managing growth. It is therefore imperative that they institute an effective risk management system. All key executives in the organization should be advised to include risk as an agenda item in all important meetings, maintain a risk log, and take proactive steps to accept risk, avoid risk, reduce risk, and transfer risk (to an insurance company or a third party) – whenever and wherever possible.

Here’s what Gary Cohn, American Banker and Vice-chairman of IBM, has to say:

WHAT DO YOU THINK?

Let me know in the comments section.

In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

Accept, Avoid, Reduce and Transfer your Business Risk #GreatMinds Read More »

People Management #GreatMinds

/ Great Minds

It may prove useful at times to organize people in non-hierarchical settings to inform, share, discuss and agree on items of importance to the company.  Do not ridicule people, do not insult them either.

As a basic rule of life, be friendly with people, and help them as much as you can. This is a great strategy to build rapport and to create an environment of trust and comfort. At your workplace, create an atmosphere where people (both as individuals and in teams) demonstrate the spirit of cooperation and collaboration and keep workplace conflicts at a minimum. 

People work on the dictum – “consent and collaborate” rather than following the traditional dictum – “command and control.” Treat everybody with due courtesy and respect – after all people will remember you for as to how you treated them.

Here’s what Steve Jobs, co-founder of Apple, has to say:

WHAT DO YOU THINK?

Let me know in the comments section.

In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

People Management #GreatMinds Read More »

People are important #GreatMinds

/ Great Minds

Yes – people are important! They constitute the most important resource – the human resource. Organizations, events, and/or projects succeed or fail because of the people involved. So, for an entrepreneur, connecting with the right people becomes crucial!

Here’s a quote from Guy Kawasaki, a Silicon Valley Venture Capitalist.

WHAT DO YOU THINK?

Let me know in the comments section.

In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

People are important #GreatMinds Read More »