European Union Forums

[Benn]

In order to achieve success in business, you firstly have to learn to foresee clearly the future. Try to understand what you want to gain. What will happen to you, to your business environment, money, connections and opportunities. Develop the desire for fulfilling your wish. Think about the negative moments your future might bring, assess risks and learn to control them.
Make your own finance plan. Business first of all means knowing the finance. Learn to distinguish assets from liabilities.
You should understand it's impossible to know everything, that's why don't be afraid to address to professionals. Use others' experience and time.
In the 21st century the information makes a half of the business. Don't hesitate to pay money for useful information.
The business means mobs of emotions and nerves, that's why learn to assess the situation not from the point of view of its appearance, but of its profitability. You should have a strong wish to invest your time, money and other sources.
Remember to be patient. Don't try to gain millions in one day or week. You need a lasting strategy.
When you invest money, make it work for you. You can do it by purchasing assets, securities that will permanently ensure a stable profit.
This is what to me is important in business. What can YOU recommend?

[Big_Becka]

There are two things that I think are very important:

1) Be realistic. Do not try to sell luxury goods to a world that is entering recession! You need to think about what customers want to buy, not what you want to sell Every time you want to do something, ask yourself how your customers and colleagues will benefit.

2) Be flexible. If your business is failing, don't gamble your family home and your kids' food trying to rescue it! If your industry is suffering, retrain as something else. Try to turn each negative into a positive opportunity.

3) ALWAYS keep your business and personal affairs separate.

4) Do not be too proud to do things the old-fashioned way. We all want to live like kings, but sometimes you can take a bus, stuff envelopes, or sew a button back on an old shirt.

5) Maintain honesty and integrity. People may think you are naive in the short term, but in the long term you will have earned a good reputation.

6) Never allow yourself to be unemployed. Even if you have to do volunteer work! You can use the opportunity to learn new skills, or do something you always wanted to (like write a book).

[Aeneas]

Becky,
did you ever write that book? If so, can we read it?

[Big_Becka]

No... If this world recession gets bad, I may find myself with more time for this But of course, reading forums like this one counts as 'research' Do you have any ideas?

[Aeneas]

Lots of them. I'm in the middle of some stuff but I will get back at you later.

[Terry]

Becky, I should disagree with you. Why do you say we should keep business separate from personal affairs? Combining business and your personal life will give you a greater incentive to succeed in business. You can involve friends and relatives in your business, so that everybody is happy.

[Big_Becka]

This is true Terry, but when things go wrong, you risk losing your friends and family too. For example, I know a lot of people will remortgage their family home to support their business. Or parents might take a work discussion home and argue, instead of talking to their children.

Hmm, I see your point, though. I know some businessmen like to keep a business family-owned.

Perhaps I should have said: Keep work life separate from home life? I think it is important to take time off in the evenings and/or weekends to have a meal with family and friends, read your children a story, etc.

[Steven]

you both are right. Becky, I'm on your side. Involving your family/friends into business is dangerous. Business means unpredictable situations and quarrels among workers appear here and there... now imagine if these is your wife, husband, cousin etc.

[Benn]

Lots of families break up because of the business, as well as many people get married because they believe their partner (usually the man) is a good businessman. But, when he involves his wife in business, this draws away his attention to focus on affairs.

[M.Helen]

My ex-husband run a business. He indeed was a successful businessman. But, I also wanted to get involved into his business. But he gave me no chance. This is one of the reasons we divorced.

[Steven]

When you join a new working team, don't hope to find friends. Spending 8 hours a day near your friends would be great, but don't forget that friendship and work can't get on together.

[Benn]

Always promote yourself. Don't be shy, don't be afraid to expose your best qualities. But don't show your best at once, always keep some trumps in your hand.

[Faw_Peter]

If you want to be a leader, you may employ at a small company. However, this will waste your time if you really wanna build a strong career. The point is that if you go work for a big company, you'll have almost no status, and you'll need to promote yourself. Instead, it gives good prospects for the future.

[Riser]

The most inconvenient light is the shadow you're afraid to drop out of. Remember, no risk - no success. Risk must always accompany you. Plain actions don't bring big money.

[Steven]

Don't listen to rumours within the corporation. Believe only verified facts. Gossips may spoil gradually your reputation, name, relation with colleagues and (what is dangerous indeed) with your boss. So you could not see a career growth for a very long period of time.

[Martin]

The best rule is to try to be a good employee and to do your work in time, and never be late. Your boss surely will remark your good attitude toward your job and maybe after some months it will rise you in a better degree and better conditions.