Monthly Archives: August 2014

Why the Rich Get Richer and the Poor Get Poorer

There is a video out on the web by Tony Robbins where he explains why the rich get richer and the poor get poorer.

It is all about taking action. The rich take action to be rich and the poor feel they never will be rich, so they either don’t try, or they try with the attitude that it doesn’t matter (they won’t be able to do it anyway) and sure enough they don’t.

The four components to making something happen, whether it is shooting a basket or growing a profitable business is: Belief, Potential, Action, and Results.

You must believe that you can do it. This taps into greater use of your potential, allowing you to take positive action, which leads to positive results, which enforces the belief that you can do it, which allows you to use even more of your potential, which…

You have to have the potential or skill to do the action. You may think that you can do it and when you try, you may succeed and that will reinforce your belief that you can do it. On the other hand, you may think that you can’t do it and when you try, you may fail and that will reinforce your belief that you cannot do it.  This is a self-fulfilling prophecy.

So let’s get rich!

You are starting out on the journey to grow your business. You can’t change your own potential, but you can acquire potential from somewhere else (more about that later). Hopefully you have already taken some action, and that has given you some positive results. So this has your belief system thinking it is possible. Remember, if you think it is not possible, you are right, it won’t happen.

So what are you going to do?

You must believe that you can do it. You must condition yourself that you’re certain you are going to succeed.

Potential. You need to maximize your abilities, and you have to take action to acquire more potential for things that you are lacking, to make it happen. Your belief dictates how much of your potential you can use.

Take action. One action you may need to take is to acquire a proper marketing and management software and web system. This would provide the means for your business to grow as fast and as big as possible. You may need to raise capital. You may need a coach to help you make great decisions. You may need to update your skills or take a course. You may need to call The Business Solution. Whatever action you need to take to reach your goals, just do it. No action = no results.

Now let’s see some results. Whether you are shooting a basket or growing your business, the result you get is based on how much of your potential was used doing the action. The more potential you use, the greater the action taken, which maximizes your results.

Believe. Maximize Potential. Take Action. See Results.

To your riches!

To watch the video that I referred to, go to:

www.tonyrobbinstraining.com/320/interview-with-frank-kern-and-john-reese/

Software Designed for the Way You Do Business

www.virtuallylive.ca

 

Free Report:Are You Losing Money On a Block of Your Farm or Vineyard?

Business success depends on profitability.  Cost accounting is a good tool to make sure that your farm or vineyard remains prosperous.  To be successful, farmers need to track their profitability!

Free Report: Are You Losing Money On a Block of Your Farm or Vineyard? An Introduction.

Call or email today for your free report.

289 296-2727     info@virtuallylive.ca

 

Supply Chain Management – The First Link

To make sure we are all agreed on the definition of Supply Chain Management (SCM), Wikipedia defines Supply Chain Management as: “the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers (Harland, 1996). Supply Chain Management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption (supply chain).”

Another definition is provided by the APICS Dictionary when it defines SCM as “the design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand, and measuring performance globally.”

Supply Chain

Let’s look at an example. We have two companies, one company that sells widgets to the public in a retail outlet which we will call Retail. The other company supplies the widget, let’s call that company Supplier.

Retail needs to make sure that it has enough product on the shelf to sell. To save money and to ensure that they don’t get stuck with product they can’t sell, Retail does not want to have too much inventory on hand. On the other hand, if Retail runs out of product, their customers could go somewhere else to purchase it. Supplier needs Retail to be happy and purchase product from them. Supplier could have a normal non-managed relationship with Retail and hope for the best or Supplier could try to work out a managed relationship with Retail (Supply Chain Management). If Supplier and Retail can both work together on a system that maximizes the best interest of both of them, they both win.

To manage the movement of product from Supplier to Retail, they will set up a system where Retail can easily order product on short notice from Supplier. Supplier will know the inventory level of product at Retail so that Supplier can ensure it has enough inventory on hand to fill Retail’s order for more product. Now they could just call back and forth informing each other of their inventory on hand and when they think they will need more, or they could have a software/web system that links Supplier to Retail (a chain) so both can see in real time how things are going.

 

Instead of judgement calls, using business intelligence in their software system, patterns and trends can be seen so that both businesses can make better decisions. At certain inventory levels, orders can be place automatically. Because of the integrated system between Supplier and Retail, Supplier will have reduced administrative cost in servicing Retail, which will allow Supplier to pass the savings on to Retail which will only make the long term relationship between Supplier and Retail even stronger (stronger chain).

 

Bottom line:  Product is available when the customer comes in to purchase it, Retail does not need to carry excessive inventory, Supplier who has a close relationship with Retail can maximize its sales to Retail and does not worry that Retail will switch to another Supplier to get product because of the win/win relationship they have both built. Stay tuned for the next issue where I will discuss Supply Chain Management: The Next Link.

Software Designed For the Way You Do Business

www.virtuallylive.ca

 

Sell Locally Around the World: the Global Market is Your Local Market

Technology removes boundaries and creates a level playing field

At one time buying local meant looking at the label to see where it was manufactured. You went into the store up the street and you supported your local economy. However things have changed. Parts can be manufactured all over the world then assembled locally. We live in a global world where your neighbor might be China.

With technology, websites, and 1-800 numbers, the lines get blurry as to who is local and who is not. Buy local: do we mean made in Niagara or made in Canada? It is getting harder and harder to know if you are truly buying local. If you go to the local variety store and buy an item made in Taiwan, is that local?

You can use technology and the internet to sell your products globally and treat the whole world as your local market. It is easy enough to set up offices around the world, yet answer the phone locally. You can have warehouses worldwide that you never step foot in. Sitting in your Niagara office you can manage global orders and ship from a warehouse that is in the customers’ local market.With technology it is easy to have one system for your whole business that is administered locally but you have satellite offices all over the world that are linked in real time.

Websites shopping carts tied into order and shipping systems can process orders 24/7 even though you only run one day shift Monday thru Friday. It now appears you are working in the same time since your system replies to your customer’s inquiry and processes their order all through automation.

Shipping companies can ship overnight (or in a day or two) across the world in the same amount of time your order can come from up the street.   It is important that your system handles local and global customers seamlessly. Customers like buying locally and with your new business structure you are local all over the world.

So if you can appeal to your local customers and global customers you can greatly increase your sales. When one market is down, you have another market that is hot: You are local to all these markets. When they say buy local, global customers are buying from you!

Software Designed For the Way You Do Business

www.virtuallylive.ca