When the government provides a company with bailout money, the company is then required to buy products and services only from its' own country. The government has good intentions - wanting to keep its' money, business and growth at home, however the problem is that more and more countries are turning to this policy of protectionism and trade barriers are fortifying around the world! Much of the American economy gathers its business from overseas consumers. For the sake of competition, innovation and growth, our markets must stay open and friction free. With strong leadership, the world needs to work together in order to fix the global economy!
One day I got talking to a "regular" at the store and the conversation quickly turned into topics about business and foreign affairs. At the time I was reading a book called Wild Swans, a memoir about three generations of women growing up in China. I told the professor about my new interest in foreign affairs and he let me in on his secret to keeping up-to-date on the political issues from around the world; "Pick up an issue of Foreign Affairs Magazine." I just bought the May/June copy. I'll let you know how it reads and what I have learned.
By reading the title of this post, you most likely have an image of the "typical" entrepreneur. More often than not, the typical image is of a college drop-out, that started a highly technical business, that grew fast and became a massive public corporation. The truth is that most entrepreneurs in this country are white men in their forties, married with a working spouse, generally just trying to make a living and they do not want to work for anyone else. Starting a business in the service industry is much more common than the technology or manufacturing industries. Scott Shane explains that going to college, getting a professional degree, and having some experience managing others in a business setting are the experiences that actually increase a person's odds of starting a company. I have the experience managing others, now I'm off to school to get my degrees!
My second book of interest is The Illusions of Entrepreneurship: The costly Myths that Entrepreneurs, Investors, and Policy Makers Live By. William J. Baumol of the New York University Stern School of Business says, "This fascinating book, by one of the most competent investigators of the subject, tells us how much we think we know about entrepreneurship that is just not true. It has already led me to change several of my lectures (with thanks to the author). This book is a must-read for anyone who takes a serious interest in the subject of entrepreneurship." Sounds like a positive book; feel free to read along.
My favorite and final rule that D'Alessandro proposes is to "lead your people to the promised land." The best resource for a brand are the men and women that run the company. When a company has a strong brand, the brand will provide a few advantages to its employees. A good brand will allow its employees to focus and make tough decisions. A strong brand will inspire the people on the inside. Entrepreneurs must understand that their business must focus on the qualitative aspects of a company. Too often the leaders of a company are tied up in the quantitative aspects - sales goals and conversion rates - of a company. When a brand focuses on the quality of its managers and employees, the quantity (money) will follow.
The death of the salesmen has begun. Consumers no longer walk into a store as an empty shopping cart waiting to be educated; they have the power to educate themselves about your products and services. Consumers use the internet to study and compare products, as well as , to gain "insider" knowledge with ratings and reviews. If you are a salesman or woman, make sure that you are an expert in your field. Stay on top of your industry and do not let your potential customers educate you. The "natural born" salesman is dead. Keep the trust of the consumers; train and educate each and everyone of your employees.
I can attribute my knowledge and love for business to the few reputable businesses that I have worked for in my life - the most influential is Patagonia. As I prepare for college in the fall, I start to reflect on my experiences working at Patagonia. Above is my boss and business mentor Yvon Chouinard the owner and founder of Patagonia. He has created a culture that is a mirror image of his personality in the video above; simply down to earth. The culture at Patagonia is one that is embedded in its mission statement -- to build the best product, to cause no unnecessary harm and to use business to inspire and implement solutions to the environmental crisis -- and its core values of quality, integrity, environmentalism and not being bound by convention. To be long lasting and successful, a company must live, breathe and think with its principles and values... they will ensure the preservation of the culture and the personality that your company stands for.
Subscribe to:
Posts (Atom)
