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more:- http://marvejohndaily.com/what-to-do-when-your-small-business-fails/

In Africa, there’s a culture of shame that makes it difficult for people to admit failure. Depending on how you see it, failure can either be good or bad. When discussing Small Business as a subject, failure is a key component.

From statistics, we understand that over 80% of Small Businesses fail before their Fifth anniversary. It means failure is inevitable and therefore the more we talk about it, people will begin to see it from a different perspective and possibly become better at what they do, employing lessons learnt from their previous failed venture(s).

Why Do Small Businesses Fail?
There are so many reasons. I can attempt to summarize my thoughts with these few points.

1. Lack of Clarity of Vision And/Or Purpose
Most Small Business founders started because they wanted to be ‘their own boss’. They realize very quickly that running a business is real work and if not properly planned takes away the liberty that brought them here in the first place. The result is dis-illusionment and ultimate death. A more serious and compelling purpose/vision will make the above difficult if not impossible.

2. Lack of Proper Financial Planning
A lot of the time, small business founders neglect to put in place a proper financial plan. They discover very late how much lack of planning cost their business and sadly most times, it’s reasonably beyond redemption. A simple financial plan (that includes a cash flow analysis and budget) will help you determine what you need ahead of time and help you put in place a strategy to meet your business financial goals.



3. Lack of Entrenched Organizational System
For a business to succeed, the founders must be able to define the tasks of staff members, break them into manageable modules which is then fit together to form a process. The process becomes a set of routines which makes up the system complete with organizational procedures. This system both confers on the organization an edge or a disadvantage over the competition and should be reviewed periodically for efficiency.

4. Lack of Institutionalized Support
Doing business anywhere is tough. It’s tougher in Africa. For Small Businesses to thrive there must be a mutually beneficial partnership between the Government and Small Business owners. If the business succeeds, they not only reduce unemployment, they provide fund for Government projects by way of taxation.

5.Lack of Attention to Client Acquisition & Satisfaction
A paying customer a day, keeps bankruptcy at bay – stolen from Victor Osaretin Asemota and modified by me. We already know that a satisfied customer will refer others. These should be the most important issues for a business owner to focus on. Surprisingly, a lot of Small Business owners leave these to chance with no clear cut plan on how to go about either.

6. Lack of Succession Planning
Due to how most Small Businesses were formed here in Africa, a lot of day-to-day responsibilities revolve around the founder. In the absence of the founder (for natural or un-natural reasons), the business suffers and often goes into extinction.

Characteristics of A failed Business
1. In ability to consistently meet their obligations to both staff, board, clients, creditors and community.
2. Inability to meet internal growth goals
3. Weak and unsustainable Cash Flow and financial liquidity
4. Weakened Balance Sheet and consistently posting of Negative Profit returns.

What You Should Do When Your Business Fail
1. Admit It.
Most Small Business owners live in denial and compound an already bad situation. Admitting failure doesn’t make you bad, rather, it helps you to quickly lose the failure tag, take stock and possibly see the clearer picture in order to rebound better and faster.

2. Do A Post Mortem
Go through your operations, strategies and decisions to find out what you did wrongly.

3. Seek Counsel
Most times, depending on our level of exposure and knowledge, it’s difficult to properly assess ourselves. An experienced mentor (that you respect) may be able to point out the errors and set you on a recovery path.

4. Carry The Team (Staff, Board & Creditors) Along
Depending on how you ran your business and the industry, you may run into more serious issues if you neglect any of these people.

5. Learn your lessons
Failure is neither bad nor good – it depends on you. It’s not bad if you learn useful lessons that help you succeed in your future endeavors. Everyone who succeeded at something, failed at some things in the past. The difference is – those who eventually succeeded, learnt and implemented their lessons. If you intend to start afresh, ensure to borrow from the lessons you learnt.

6. Share your experience
If you learnt lessons from your experience, share it so others can learn. Granted, no two experiences can be the same, but, Africa will be a better place if we can learn from and not repeat your mistakes.

Conclusion:
These lists are in no way exhaustive – they are just my thoughts based on some experiences. Some points may need to be expanded, debated or even totally expunged, but, at least we can start a conversation around these topics towards a stronger, healthier Small Business culture and ecosystem for our nascent economy.

more:- http://marvejohndaily.com/what-to-do-when-your-small-business-fails/

Hi,
Am a blogger and i need more funds in advertising my site, my blog already have google ads.
so if you are interested in doing business with me, invest 20 to 50k and get double the amount after a month
to be frank i dont have any collateral to give at the moment, buh if you want we can sign an agreement to that effect.

contact me via email: marvejohndaily@gmail.com lets talk...

Nawa for seun, lalasticlala, obinoscopy wetin i do una self, why none of my posts no dey mk FP :/ me tire oo

seun, lalasticlala, obinoscopy please read n move 2 fp if u find it useful

Problem Analysis

Effective negotiators must have the skills to analyse a problem to determine the interests of each party in the negotiation. A detailed problem analysis identifies the issue, the interested parties and the outcome goals.

Preparation

Before entering a bargaining meeting, the skilled negotiator prepares for the meeting. Preparation includes determining goals, areas for trade and alternatives to the stated goals. In addition, negotiators study the history of the relationship between the two parties.

Active Listening

Negotiators have the skills to listen actively to the other party during the debate. Active listening involves the ability to read body language as well as verbal communication. It is important to listen to the other party to find areas for compromise during the meeting.

Emotional Control

It is vital that a negotiator have the ability to keep his emotions in check during the negotiation. While a negotiation on contentious issues can be frustrating, allowing emotions to take control during the meeting can lead to unfavourable results.

Verbal Communication

Negotiators must have the ability to communicate clearly and effectively to the other side during the negotiation. Misunderstandings can occur if the negotiator does not state his case clearly. During a bargaining meeting, an effective negotiator must have the skills to state his desired outcome as well as his reasoning.

Collaboration and Teamwork

Negotiation is not necessarily a one side against another arrangement. Effective negotiators must have the skills to work together as a team and foster a collaborative atmosphere during negotiations. Those involved in a negotiation on both sides of the issue must work together to reach an agreeable solution.

Problem Solving

Individuals with negotiation skills have the ability to seek a variety of solutions to problems. Instead of focusing on his ultimate goal for the negotiation, the individual with skills can focus on solving the problem, which may be a breakdown in communication, to benefit both sides of the issue.

Decision Making Ability

Leaders with negotiation skills have the ability to act decisively during a negotiation. It may be necessary during a bargaining arrangement to agree to a compromise quickly to end a stalemate.

Interpersonal Skills

Effective negotiators have the interpersonal skills to maintain a good working relationship with those involved in the negotiation. Negotiators with patience and the ability to persuade others without using manipulation can maintain a positive atmosphere during a difficult negotiation.

Ethics and Reliability

Ethical standards and reliability in an effective negotiator promote a trusting environment for negotiations. Both sides in a negotiation must trust that the other party will follow through on promises and agreements. A negotiator must have the skills to execute on his promises after bargaining ends.

source:- http://marvejohndaily.com/10-skills-you-need-to-develop-to-succeed-in-negotiating/
seun, lalasticlala, obinoscopy

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more:- http://marvejohndaily.com/want-to-be-successful-have-fun-seriously/

“I just don’t get how you can work those crazy long hours like you do,” Mike said. “Don’t you ever get tired of it?”

“Don’t laugh but, to me, this is fun,” I told my fellow engineer. “When it stops being fun, I’ll do something different. In the meantime, this is it.”

That conversation was more than 3 years ago, but I remember it like it was yesterday. It was a defining moment in my career. I wasn’t just answering Mike’s question but making a life decision, right then and there.

That day, I made a promise to myself: If my work ever stopped being fun, I would quit and find something else to do. I’ve kept that promise all these years and it’s paid off in terms of an incredibly fulfilling and lucrative career.

Don’t get me wrong. Not every day, week, or every month is a blast. We all have responsibilities we’d rather not deal with. And there are external factors you can’t control. Markets tend to be cyclical, so there will always be tough times. When making important career and business decisions, you have to take the long view.

Look at it this way: If your goals are to be financially successful, have a fulfilling career, and live a relatively happy life, of course you have to make some compromises. There will always be tradeoffs. But I’m here to tell you that you can achieve all of that and have fun doing it … but there’s a catch. There’s always a catch.

The catch is, you have to know your priorities and stay focused on accomplishing your goals. You can’t just love what you do. You also have to work hard at it and become very good at it. You have to fulfill your responsibilities and meet your commitments. And whatever you do for a living, it has to be marketable.

If all that sounds like a lot, then you’re beginning to get the picture. You’re beginning to understand why, if you want to do what you love for a living and have fun doing it, you have to spend a pretty big chunk of your life doing it. And you can’t waste a lot of time screwing around with nonsense.

That doesn’t mean you can’t have a life. I have a great life. But my work has always been an integral part of it, and that’s by choice. Being an executive in the tech industry, a management consultant, or a business writer have never been just jobs to me. I love the work. And I actually find news and events related to those fields fascinating. I really do.

That’s where this gets interesting. I can’t say I’ve ever given work-life balance a moment’s thought. I haven’t had to. I’m a hard worker by nature and I like doing things that matter. Some of it I get paid to do, like consulting and writing, and some of it I don’t get paid to do, like working around my home and property.

Sure I have all sorts of interests, but my philosophy on life has always been the same – stay focused on your goals, priorities, and work and have fun doing whatever you do – and I’ve remained true to that theme all my adult life. I don’t think in terms of what I should do, what others do, or how they do it. I couldn’t care less about any of that.

Look, this isn’t rocket science. It all boils down to one simple concept. If you want to be successful and have fun doing it, you have to make that your main focus in life and stay true to yourself. You can achieve anything, but only by finding your own way of doing things that works just for you and making a promise to yourself to stick with it.

As I always say, nobody ever got anywhere in life by doing what everyone else is doing. Nobody ever made it big by following the crowd. Leaders lead. Followers follow. You can’t do both.

source:- http://marvejohndaily.com/want-to-be-successful-have-fun-seriously/
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More:- http://marvejohndaily.com/never-give-up-a-true-life-story/
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I always feel reluctant posting on NL nowdays cause important and educative posts dont make FP nowdays, and i seriously dont know why. well i hope the mods : seun, lalasticlala, obinoscopy will move this one and others that i posted long time ago.

A true story about athlete Glenn Cunningham who was horribly burned in a schoolhouse fire at the age of 8. Doctors predicted he would never walk again. Determined to walk, Glenn would throw himself off his wheelchair and pull his body across the yard and along a fence. Twenty-two months later, he took his first steps and through sheer determination, learned to run despite the pain…

The little country schoolhouse was heated by an old-fashioned, pot-bellied coal stove. A little boy had the job of coming to school early each day to start the fire and warm the room before his teacher and his classmates arrived.

One morning they arrived to find the schoolhouse engulfed in flames. They dragged the unconscious little boy out of the flaming building more dead than alive. He had major burns over the lower half of his body and was taken to a nearby county hospital.

From his bed the dreadfully burned, semi-conscious little boy faintly heard the doctor talking to his mother. The doctor told his mother that her son would surely die – which was for the best, really – for the terrible fire had devastated the lower half of his body.

But the brave boy didn’t want to die. He made up his mind that he would survive. Somehow, to the amazement of the physician, he did survive. When the mortal danger was past, he again heard the doctor and his mother speaking quietly. The mother was told that since the fire had destroyed so much flesh in the lower part of his body, it would almost be better if he had died, since he was doomed to be a lifetime cripple with no use at all of his lower limbs.



Once more the brave boy made up his mind. He would not be a cripple. He would walk. But unfortunately from the waist down, he had no motor ability. His thin legs just dangled there, all but lifeless.

Ultimately he was released from the hospital. Every day his mother would massage his little legs, but there was no feeling, no control, nothing. Yet his determination that he would walk was as strong as ever.

When he wasn’t in bed, he was confined to a wheelchair. One sunny day his mother wheeled him out into the yard to get some fresh air. This day, instead of sitting there, he threw himself from the chair. He pulled himself across the grass, dragging his legs behind him.

He worked his way to the white picket fence bordering their lot. With great effort, he raised himself up on the fence. Then, stake by stake, he began dragging himself along the fence, resolved that he would walk. He started to do this every day until he wore a smooth path all around the yard beside the fence. There was nothing he wanted more than to develop life in those legs.

Ultimately through his daily massages, his iron persistence and his resolute determination, he did develop the ability to stand up, then to walk haltingly, then to walk by himself – and then – to run.

He began to walk to school, then to run to school, to run for the sheer joy of running. Later in college he made the track team.

Still later in Madison Square Garden this young man who was not expected to survive, who would surely never walk, who could never hope to run – this determined young man, Dr. Glenn Cunningham, ran the world’s fastest mile**!

Story Told By Burt Dubin,
Developer of Speaking Success System.

**On June 16, 1934, Glenn Cunningham ran the mile in 4:06.8 minutes, breaking the world’s record. His effort portrays that whatever you want to create in your life is yours for the making. As long as you desire it enough and allow your will to guide you, you can have and be whatever your heart desires. The only one that can put limits on our personal will is ourselves. Develop and encourage your will to create and all the forces of nature within and without will help you bring your desire to pass.
Life Summary:

8 years old, was horribly burned in a schoolhouse fire. Doctors predicted he would never walk again.
22 months later, took his first steps and through sheer determination, learned to run despite the pain.
In high school, set records for the mile and later attended Kansas University.
While at Kansas, refused all scholarship money, preferring to pay his own way.
By sophomore year, ran the 1,500 meter race at the 1932 Olympics, but finished fourth due to a severe cold.
By senior year, set a world record for the mile of 4:06.8 and held seven of the top 13 fastest recorded times for the mile.
In 1936, voted “Most Popular Athlete” by his fellow athletes.
He went on to earn a master’s degree from University of Iowa and later a doctorate from New York University.
While in New York, won 21 of 31 races at Madison Square Gardens and set an indoor mile record there in 1938. His fastest mile time was 4:04.4 at a Dartmouth track meet in 1938.
When the 1940 Olympics were cancelled, he retired from his running career and taught at Cornell College in Iowa.
During World War II, he served two years in the Navy.
Spent the remainder of his life running the Glenn Cunningham Youth Ranch for troubled kids in Kansas, USA. It is estimated that he and his wife raised around 9,000 kids on their ranch in the years until his death in 1988.

more:- http://marvejohndaily.com/the-power-of-determination-true-story/

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Am not addicted with my phone, am just addicted with d internet... cos without d internet my phone will be useless

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