Apr 19 2011

Business Hockey?

Is your business on thin ice, 

                          

racing around in circles,

                            

bashing competitors in the

                       

teeth, and getting nowhere?

                                             

 

If your answer to the headline question above is “YES,” then it’s probably time to pack up your puck and hang up your skates, or look for a different sport for your business.

The problem is not how you got where you are, nor is it –at this point– knowing where you’re going. Like extracting an accident victim from under a car or caved-in roof, concern one needs to be: How to get yourself out.

Entrepreneurs often dig themselves into holes (especially financial ones) while they have their heads down and are charging forward trying to make their ideas work.

                                                  

The tendency is to grasp desperately at the first straws offered by the first investor who comes along and seems willing to plunk down enough rolls of quarters to post bail and get the new business venture out of the penalty box. Oh, sorry, back to hockey. (I never did like fighting with sticks, and on skates no less.)

The point is that jumping at an expression of interest from a venture capitalist, who may want to own 51-75% of your business is never a good idea . . . unless you’re a serial entrepreneur and looking to get in, make a quick killing, and then get out. And even then, it may not be a wise move. S~L~O~W yourself down. This is marriage.  

Venture capital (VC) deals are particularly risky if you know down deep that the business is teetering (no, not Twitter Tweeting) on the brink of bankruptcy (which is not always evident on the surface . . . and which many entrepreneurs refuse to accept or think about even when it’s staring them in the face!). 

First off, most VC professionals don’t make a practice of investing in incipient bankruptcies, so –even though our unprofessional federal government has proven that it thinks nothing of throwing good tax-dollars after bad business operations– a floundering business startup is not likely to see any real bailout options come along.

Unless money comes from an “Angel Investor.”

                                                      

An Angel Investor might be Uncle Louie or Auntie Oprah or some recently re-acquainted long-lost college or Army buddy, or a wealthy next door neighbor who’s been watching the business take over the garage and who figures he can always foreclose on your property if a loan isn’t paid, and become a serious land-owner.

Before a struggling venture surfaces long enough to search for financial relief of any kind, it makes the most sense to look first INSIDE to see if overhead and/or operations can be trimmed or scaled back first without sacrificing the essence of the business’s product or service offerings. Note the word “essence.” (“Quality” and “Value” are variables.)

                                                                    

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Hal@Businessworks.US or 302.933.0116

 “The price of freedom is eternal vigilance!” [Thomas Jefferson]
Thanks for visiting. Go for your goals. God Bless You.

Make today a GREAT day for someone!

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Mar 20 2010

NO REBATES ON WASTED TIME

YOU WILL NOT

                         

GET PAID

                                                                    

for doing tasks

                     

of avoidance,

                                                                     

nor will you get

                             

the time back!

                                                                    

     The trouble is that ONLY you know what truly constitutes a task of avoidance, and ONLY you know when your time’s awastin’, which serves to underscore that being true to yourself is yet one more ONLY to think about– being true to yourself is the ONLY way to run a business and live life to the fullest.

     ONLY? Well, assuming you accept that there’s no suggestion intended here to be selfish in terms of dealing with others, and that one needs to be oriented toward strengthening oneself (i.e., one’s SELF), consider the alternatives for a minute and you’ll certainly agree.

     Even the world’s greatest givers — of love, of money, of opportunities, of freedom, of whatever counts — recognize and accept that they must somehow be able to give from a position of strength in order to be truly effective.

     If you are committed to a goal of giving money to the (fictitious) E-Charity Fund, and you donate at great personal sacrifice because table food is scarce and mortgage payments are behind, guess what? You’re not being blessedly generous; you’re being foolish.

     Once you’re able to catch up with your expenses and build a base of financial strength, you’ll be able to donate more, more often. Self-sacrifice is not a requirement for charitable giving. Sure, there are always those who will be in greater need than you, but if you fail to boost your own finances before giving money away, you may be setting yourself up to be joining the ranks those you seek to support. 

     Then what good will you be? 

     Do you need millions to justify donating thousands? No. But you need to not be teetering on the brink of bankruptcy or foreclosure before you saddle yourself with cash donations that could put you under. And that doesn’t mean that you are any less loving or caring or charitable a person.

     Back to rebates on wasted time: there are none.

     Granted that when the pressure’s on to get a report or presentation done, may not be the best time to go for a long walk or start plucking yellow leaves off of plants . . . or maybe it is! Creative-types often need to divert their physical selves to stimulate their conceptualization chambers in their brains. Walks and yellow leaves may be just the ticket!

     What’s the point? Like Smokey The Bear’s message that “ONLY YOU CAN PREVENT FOREST FIRES!” — ONLY you know yourself and your circumstances well enough to determine if you’re wasting time or not. And making that determination comes full circle back to the keynote message of the first paragraph above: To thine own self be true!  

     Oh, and by the way (i.e., btw), it’s a choice!  

Comment below or Hal@BusinessWorks.US Thanks for visiting. Go for your goals! God Bless You! Make it a GREAT Day! Blog via RSS feed or $1/mo Kindle. GRANDPARENT Gift? http://bit.ly/3nDlGF

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