A Flat Tire

One night four college kids stayed out late, partying and having a good time. They paid no mind to the test they had scheduled for the next day and didn’t study. In the morning, they hatched a plan to get out of taking their test. They covered themselves with grease and dirt and went to the Dean’s office. Once there, they said they had been to a wedding the previous night and on the way back they got a flat tire and had to push the car back to campus.

The Dean listened to their tale of woe he then offered them a retest three days later. They thanked him and accepted his offer.

When the test day arrived, they went to the Dean. The Dean put them all in separate rooms for the test. They were fine with this since they had all studied hard. Then they saw the test. It had 2 questions.

1) Your Name __________ (1 Points)

2) Which tire burst? __________ (99 Points)
Options – (a) Front Left (b) Front Right (c) Back Left (d) Back Right

The lesson: always be responsible and make wise decisions.

How The Poor Live

One day, a father of a very wealthy family took his son on a trip to the country with the firm purpose of showing his son how poor people live. They spent a couple of days and nights on the farm of what would be considered a very poor family. On their return from their trip, the father asked his son, “How was the trip?”

“It was great, Dad.”

“Did you see how poor people live?” the father asked.

“Oh yeah,” said the son.

“So, tell me, what did you learn from the trip?” asked the father.

The son answered, “I saw that we have one dog and they had four. We have a pool that reaches to the middle of our garden, and they have a creek that has no end. We have imported lanterns in our garden, and they have the stars at night. Our patio reaches to the front yard, and they have the whole horizon. We have a small piece of land to live on, and they have fields that go beyond our sight. We have servants who serve us, but they serve others. We buy our food, but they grow theirs. We have walls around our property to protect us; they have friends to protect them.”

The boy’s father was speechless.

Then his son added, “Thanks, Dad, for showing me how poor we are.”

Your 86,400 Bank Deposit

Imagine you had a bank account that deposited $86,400 each morning. The account carries over no balance from day to day, allows you to keep no cash balance, and every evening cancels whatever part of the amount you had failed to use during the day. What would you do? Draw out every dollar each day!

We all have such a bank. Its name is Time. Every morning, it credits you with 86,400 seconds. Every night it writes off, as lost, whatever time you have failed to use wisely. It carries over no balance from day to day. It allows no overdraft so you can’t borrow against yourself or use more time than you have. Each day, the account starts fresh. Each night, it destroys an unused time. If you fail to use the day’s deposits, it’s your loss and you can’t appeal to get it back.

There is never any borrowing time. You can’t take a loan out on your time or against someone else’s.

The time you have is the time you have and that is that. It is yours to decide how you spend the time. It is never the case of us not having enough time to do things, but the case of whether we want to do them and where they fall in our priorities. The clock is ticking, invest your time wisely in your health, happiness and success.

To know the importance of a YEAR, ask the students who failed the next grade.

To know the importance of a MONTH, ask a mother who gave birth to a premature baby.

To know the importance of a WEEK, ask the editor of a weekly magazine.

To know the importance of an HOUR, ask someone waiting to meet his/her lover.

To know the importance of a MINUTE, ask the person who missed his flight.

To know the importance of a SECOND, ask the person who just avoided an accident.

To know the importance of a MILLISECOND, ask the Olympic silver medalist runner.

Today, experts Agree that more companies face an unstable business environment. Improvements in data processing and
telecommunications have made major changes in most industries. In addition to this, improvements in transportation and the growth
of foreign markets (specifically in Europe and Asia) have created a global market and redefined certain industries. In addition,
as consumers are vulnerable to more choices, loyalty is becoming less important than it once was; a slightly better deal or a
temporary lack of inventory can easily lead to the loss of customers. Competitors also can alter rapidly, with new ones emerging
from out of nowhere (frequently this means another side of the world ). With the uncertainty of the worldwide market, it is vital
that you make tactical planning component of your overall business strategy.

Proactive Versus Reactive Management. A couple of years back, you could establish and maintain a business by reacting to and
fulfilling changes in tastes, costs and prices. This reactive type of direction was often enough to help keep the business going.
But, today changes happen quickly and come from a number of directions. From the time a reactive manager can make the required
alterations, he or she might lose many clients -- maybe for good.

Proactive Preparation is the anticipation of future events. Decisions are based on forecasts of future conditions of the
environment instead of responses to various disasters as they occur. Proactive planning in an unstable, technology-driven business
environment is important to continuing success in just about any endeavor. As opposed to responding to the situation as it
affects, proactive preparation requires that you analyze environmental forces and make resource-allocation decisions. By doing
this you can take your company where it ought to be in the next month, decade and year. Barry Worth, a consultant specializing in
small business management, puts it this way: Now's entrepreneur must be a business architect. Anything built in today's business
environment must have a step-by-step blueprint or plan about how to achieve success. The blueprint for today's business owner is a
company plan.

The Want For a Strategic Plan. Planning has a significant role in any business venture. It can make the difference between the
success or failure of your business. You need to plan carefully before investing your time and effort, particularly, your money in
any business enterprise. The demand for a strategy is best exemplified by the following situation -"A Tale of Two Businesses."

Two franchises (A and B) were launched by people who had worked in management in much bigger businesses. While Franchise A
supplied a product and Franchise B per service, the output of both franchise systems were sold exclusively in the USA before the
present owners became involved. The output of the two was readily available in other developed nations too. The franchises opened
about precisely the exact same time and neither franchisee had a strong market presence, nor do they present. Now Franchise B is
broke. By contrast, Franchise A is promoting products in the Midwestern United States and in Europe.

What was the Deciding difference in the two franchises' success? You probably expect it to be the one had developed a strategic
plan and another hadn't; however, it is not this simple. Several factors can influence the result of a business venture. There
were many similarities between the businesses, but there also were many differences.

Most notably, Franchise A marketed a solution and Franchise B a service (although this doesn't clearly limit options). The other
difference was that Franchise A had a closely thought-out plan. The investors understood as they looked for a franchise partner
they wanted to locate something which could satisfy international markets and a franchiser who'd encourage that kind of sales
effort. These investors were based in the Midwest, but negotiated for exclusive rights to export the franchiser's product. Once
they had acquired the franchise, as soon as they began to establish their business domesticallythey also began to contact
authorities experts from the U.S. Department of Commerce and educators and local managers with international experience.

Clear plans Were developed outlining how they'd position, market and distribute the solution and which overseas markets would be
targeted . Even as they were building sales in one European market, they had been attending trade shows and preparation entry
strategies in others.

By comparison, The second investor (Franchise B) started his company strictly because he wished to leave a former employer.
Obviously many small businesses begin this way; however, in this event no evaluation of franchising alternatives was done. The
organization has been located in a place which, as it turned out, contained virtually no customers for the kind of support being
supplied. If this error was accomplished, it was too late to proceed --the investor only did not have the cash or the desire to
risk starting again.

Other examples Further demonstrate the demand for strategic planning and for creating a clear business strategy. Whoever owns a
company that seemed to be performing quite well in two locations was going to open in a thirdparty. The authors were called in to
create a benefits plan and discovered cash flow problems that could be found just after operations had begun in the new location.
After assessing the circumstance, an expansion and financial plan was developed for the sound locations only. In another
situation, the authors decided that a business had purchased more equipment than has been necessary to accomplish the current
workload.

After careful Evaluation, intends to make additional purchases were placed on hold, along with the equipment available was used
effectively to meet immediate needs.

A business Enterprise is to complicated to presume that failure to develop a solid organization Plan is going to be the reason
behind issues But this failure frequently counts Among the factors contributing to business difficulties. As Worth has stated,
"Being a company entrepreneur now takes constant vigilance to be able to Be in a position to take advantage of new opportunities
and the availability of new Information and technology as they come into being." The first step in Doing so is to have a program.

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