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Thursday, September 6, 2007
Everyone hears the statistics about businesses, that nine out of every ten fail, but believe it our not there are things that business owners can do to increase their chances of having a successful business. Below is a list of tips that will give an individuals business a better chance of succeeding.
1. Write a business plan. Writing a business plan is an essential part of business success. It allows an individual to analyze your goals and expectations for the business. It also allows an individual to evaluate their competition.
2. Make sure you have enough capital on hand to get you through the start-up phase until you can make a profit. Cash flow problems are a huge component in business failures. If a person does not have adequate financing they should not go into business to begin with.
3. Evaluate your partners. Make sure that you are working with partners that can make up for your weaknesses. Don't just bring in friends just because they are friends.
4. Make sure you are marketing the business. You cannot expect to make any money if people do not know about you.
Following the four tips listed above will surely drive any individual closer to a successful business.
Andre Bias is the owner of http://www.kidfriendlyentertainment.com, and online source for top notch DVD's for children 10 years old and younger. He is also the owner of the websites http://www.pokergreed.com and http://www.mustseeauctions.com.
Persistence & Customer Orientation Keeps Two Wheeler market In India growing 18 % this year...
The two-wheeler automobile industry is continuously striving for synergy between technology and systems to provide products and services that meet the quality, performance and price aspirations of the Indian buyers. They stress on maintaining the optimum level of standards of ethics and social responsibilities, constantly innovate products and processes, developing teams that keep the momentum going to take the industry and its counterparts to heights of excellence in times to come.
The constantly rising Indian economy has enabled more and more buyers in the years to come, would be able to afford a two-wheeler. The intrusion of foreign and merchant bankers have endorsed easy loans for both the consumers and the entrepreneurs.
As a substantially large number of customer add to the family of two-wheeler owner's club, the demand for a more fuel-efficient, ride comfortable and look wise appealing two-wheeler is on rise. Moreover the increasingly growing demand for after sales support and better services has compelled the manufacturers to focus and invest more on Research & Development, Customer reach and satisfaction.
The presence of 5 strong players with infrastructure and R&D support even form overseas has almost restricted the entry of any new player in the segment, lest alone the manufacturers zone, the new comer is not even capable of entering the spare part or service support sector.
Japanese two-wheeler giant Yamaha Motor India's new CEO and managing director T Ishikawa recently speaking at Auto Expo Asia 2006 at New Delhi, announced "We plan to invest around Rs 300 Crores by 2008 on product development and expansion in India. We have plans to add 3 new models in 2006".
Hero Honda Motors continues to retain the World No. 1 title by selling a record number of motorcycles in the calendar year 2005. They sold over 29-lakh motorcycles in 2005. A growth of 123% since 2001. This was an Average Annual Growth Rate of 24.6 %.
A research report named, Indian Automobile Industry: An Analysis (2005-2010) claims that in the Indian Automobiles Segment, Two-wheeler sales crossed a significant landmark of 6mn units in the last fiscal. Total two-wheeler sales, driven by motorcycles, grew 15.75% to 6,208,860 units in 2004-05. Likewise production also grew by 16% Year On Year. Two-wheeler sales are projected to grow 18% to around 7.7 million units for FY06.
The report also claims that during the FY06 and further until 2009, the CAGR (Cumulative Annual Growth Rate), for Scooters is expected to be around 2.65%, the same for Motorcycles and Mopeds is expected to reach 11.75% and 6.5% respectively.
The auto industry, for instance, should touch 1 million vehicles a year by 2005/06 according to SIAM (Society of Indian Automotive Manufacturers). And by 2011/12 the production of motorcycles should climb to over 10 million from the current 3.2 million today.
To purchase your copy: http://www.rncos.com/Report/IM028.htm
For more information about the report please visit www.rncos.com
Get Your Performance Appraisal Discussions Off to a Good Start
In a previous article I shared a couple of tips that will reduce the feelings of discomfort that often come when a performance appraisal is discussed — gather your materials in advance, make a list of the key points you need to cover, and pick an appropriate place for the discussion. Here are four more suggestions that will make the performance appraisal discussion more relaxed.
Choose a Convenient Time
When is the best time to hold a performance appraisal discussion? There isn't any one particular time that is ideal — mornings or afternoons, early or late in the week, it doesn't matter.
What does matter is having enough time. Wise managers set a specific time for a performance review — perhaps 60 minutes — and announce at the beginning of the meeting just how long they have budgeted for the discussion. But they also make sure that the next activity scheduled for after the appraisal discussion is one that is either a low-priority (so that it can be re-scheduled) or highly flexible (like working on a long-range plan). It may turn out that more time is needed to discuss some sensitive items that arise during the discussion. It may also be that the performance appraisal discussion turns into a highly creative brain-storming session that needs to continue beyond the one-hour schedule. Make sure there's enough time for unexpected events to play out.
Determine the Agenda
How are you going to kick off the performance appraisal discussion? What are the first words you plan to say? Will you review the performance appraisal sheet section by section, or do you want to start with the final rating and move backwards from there? When are you going to go over the employee's self-appraisal?
Too often these questions are answered simply as "it just happened that way" — the manager gave no thought to the sequence of events that he wanted to follow.
A better approach is to have an agenda for the meeting. The agenda need not be written down (although that's not a bad idea) but the manager needs to decide in advance how he wants to structure the discussion.
Arrange for Work Coverage
If you don't have someone to answer your phone and you can't switch the phone to send all calls directly into voicemail, then make a firm decision to simply ignore any phone calls that come in during the meeting. Steal a "Do Not Disturb" sign from the next hotel room you stay in and put it on the door handle of the room where you're meeting. Tell your staff and colleagues to follow the "thousand-mile rule" — don't disturb you with anything unless it's of the same urgency that they would track you down and interrupt you if you were a thousand miles away.
Give the Individual a Copy of the Performance Appraisal to Read in Advance of the Meeting
Before I became a consultant, I spent fifteen years working for three large corporations: General Electric, United Airlines, and PepsiCo. Each one of those companies had a rigorous performance appraisal system; every one of my bosses took the process seriously.
But each one followed the same clumsy procedure when the day came for my performance appraisal discussion. At the time we had set for the meeting I would walk into his office and he would hand me the appraisal. I would try to read through the multi-page document just as fast as I could while my boss sat behind his desk trying to gauge from my reactions how I was taking it.
What a bumbling way to start the meeting! How can an employee take everything in from 2 minutes of speed reading?
Here's a far better way to get the meeting off to an efficient, business-like start. An hour or two before the appraisal meeting is scheduled, give the employee the performance appraisal. Say, "Sam, at 3:00 this afternoon we're going to get together for your performance review. I'd like you to read through the performance appraisal ahead of time so that you're prepared for our meeting. Feel free to write any questions you have directly on the form, or highlight anything that you want to be sure we talk about. See you then."
Sam now has some time to read carefully what you have written, at his own pace. He can reflect on the things you've said without having to immediately defend or explain himself. He can jot down notes and think of questions he'd like to ask.
If you ask people to complete a self-appraisal, ask for it at the same time that you give them a copy of their appraisal (if you haven't asked them to send it to you earlier so you can use it as an information-source in completing the official performance appraisal.) You too will be more relaxed and better prepared by being able to read, in an unpressured way, what the individual has written about herself.
One caution, however. If the person you're reviewing is a marginal performer with a bad rating, wait until the beginning of the meeting to hand over the performance appraisal. This increases your control of the situation.
Must performance appraisal discussions be uncomfortable exchanges? No. Following these small suggestions will help produce appraisal discussions that turn out to be productive learning events and true team-building experiences.
Dick Grote is one of America's most well-known speakers, authors, and consultants on employee performance evaluations. His company, GroteApproach, offers a web-based performance evaluation system. On the web at: http://www.groteapproach.com
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