A Ten-Cent Idea

When young F. W. Woolworth was a store clerk, he tried to convince his boss to have a ten-cent sale to reduce inventory. The boss agreed, and the idea was a resounding success. This inspired Woolworth to open his own store and price items at a nickel and a dime. He needed capital for such a venture, so he asked his boss to supply the capital for part interest in the store.

His boss turned him down flat. "The idea is too risky," he told Woolworth. "There are not enough items to sell for five and ten cents." Woolworth went ahead without his boss's backing, and he not only was successful in his first store, but eventually he owned a chain of F. W. Woolworth stores across the nation. Later, his former boss was heard to remark, "As far as I can figure out, every word I used to turn Woolworth down cost me about a million dollars."

Time to Think

Henry Ford hired an efficiency expert to go through his plant. He said, "Find the nonproductive people. Tell me who they are, and I will fire them!"

The expert made the rounds with his clipboard in hand and finally returned to Henry Ford's office with his report. "I've found a problem with one of your administrators," he said. "Every time I walked by, he was sitting with his feet propped up on the desk. The man never does a thing. I definitely think you should consider getting rid of him!" When Henry Ford learned the name of the man the expert was referring to, Ford shook his head and said, "I can't fire him. I pay that man to do nothing but think - and that's what he's doing."

Childish Behavior

A 24 year old boy looking out from the train’s window shouted…

“Dad, look the trees are going behind!”

Dad smiled and a young couple sitting nearby looked at the 24 year old's childish behavior with pity, suddenly he again exclaimed…

“Dad, look the clouds are running with us!”

The couple couldn’t resist and said to the old man: “Why don’t you take your son to a good doctor?” The old man smiled and said... “I did, and we are just coming from the hospital, my son was blind from birth, he just got his eyes today.”

Every single person on the planet has a story. Don’t judge people before you truly know them. The truth might surprise you.

Wranglers and Stranglers

Years ago there was a group of brilliant young men at the University of Wisconsin, who seemed to have amazing creative literary talent. They were would-be poets, novelists, and essayists. They were extraordinary in their ability to put the English language to its best use. These promising young men met regularly to read and critique each other's work. And critique it they did!

These men were merciless with one another. They dissected the most minute literary expression into a hundred pieces. They were heartless, tough, even mean in their criticism. The sessions became such arenas of literary criticism that the members of this exclusive club called themselves the "Stranglers."

Not to be outdone, the women of literary talent in the university were determined to start a club of their own, one comparable to the Stranglers. They called themselves the "Wranglers." They, too, read their works to one another. But there was one great difference. The criticism was much softer, more positive, more encouraging. Sometimes, there was almost no criticism at all. Every effort, even the most feeble one, was encouraged.

Twenty years later an alumnus of the university was doing an exhaustive study of his classmates' careers when he noticed a vast difference in the literary accomplishments of the Stranglers as opposed to the Wranglers. Of all the bright young men in the Stranglers, not one had made a significant literary accomplishment of any kind. From the Wranglers had come six or more successful writers, some of national renown such as Marjorie Kinnan Rawlings, who wrote 'The Yearling'.

Talent between the two? Probably the same. Level of education? Not much difference. But the Stranglers strangled, while the Wranglers were determined to give each other a lift. The Stranglers promoted an atmosphere of contention and self doubt. The Wranglers highlighted the best, not the worst.

Now, experts Agree that more businesses face an unstable business environment. Improvements in information processing and
telecommunications have produced significant changes in many businesses. Along with this, improvements in transportation and the
growth of foreign markets (especially in Europe and Asia) have created a global market and redefined certain industries. In
addition, as consumers are exposed to more options, loyalty has become less important as it once was; a slightly better deal or a
temporary lack of stock can easily lead to the loss of customers. Competitors also can change rapidly, with new ones appearing
from out of nowhere (frequently this means the other side of the globe). With the uncertainty of the global market, it is
important that you make strategic planning part of your overall business plan.

Proactive Versus Reactive Management. A couple of years ago, you could set and maintain a business by reacting to and meeting
changes in preferences, prices and costs. This reactive style of management was frequently enough to keep the company moving. But,
today changes occur quickly and come from many directions. From the time a reactive supervisor can make the required adjustments,
he or she may lose many customers -- maybe for good.

Proactive Preparation is the anticipation of future events. Decisions are based on forecasts of future states of the environment
instead of reactions 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 reacting to this situation as it changes, proactive
preparation requires you to examine environmental forces and make resource-allocation decisions. By doing this you can take your
business where it needs to be in another month, year and decade. Barry Worth, a consultant specializing in small business
management, puts it this way: Today's entrepreneur has to be a company architect. Anything constructed in today's business
environment must have a step-by-step blueprint or strategy about the best way to reach success. The blueprint for today's business
owner is a company plan.

The Need To Get a Strategic Plan. Planning plays an important role in any business enterprise. It may make the difference between
the success or failure of your organization. You need to aim carefully before investing your time and effort, especially, your
cash in any business venture. The demand for a plan is best exemplified by the following scenario -"A Tale of Two Businesses."

Two franchises (B and A ) were launched by individuals who had worked in direction in much bigger businesses. While Franchise A
provided a item and Franchise B a service, the outcome of the franchise systems were sold exclusively in the USA before the
present owners became more involved. The output of both was easily available in several other developed countries too. The
franchises started about precisely the exact same time and franchisee had a solid market presence, nor do they present. Today
Franchise B is broke. By comparison, Franchise A is selling products in the Midwestern United States and in Europe.

What was the Deciding difference from the two franchises' achievement? You probably expect it to be that you had developed a
strategic plan and the other had not; howeverit isn't this simple. Several things can influence the outcome of a business venture.
There were lots of similarities between the franchises, but there also were many differences.

Most notably, Franchise A marketed a solution and Franchise B a service (although this doesn't clearly limit choices ). The other
variation was that Franchise A had a closely thought-out plan. The investors understood as they looked for a franchise partner
that they desired to find a product which could satisfy international markets along with a franchiser who'd support that type of
sales campaign. These investors were based in the Midwest, but negotiated for exclusive rights to export the franchiser's
merchandise. After they had acquired the franchise, as soon as they began to launch their company domesticallythey also began to
contact authorities experts from the U.S. Department of Commerce as well as educators and local managers with global experience.

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

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

Other examples Further demonstrate the demand for strategic planning and for creating a clear business strategy. The owner of a
business that appeared to be doing quite well in two places was going to start in a thirdparty. The writers have been called in to
develop a benefits policy and discovered cash flow conditions that could be found only after operations had begun in the new site.
After assessing the circumstance, a growth and fiscal plan was designed for the sound locations only. In another case, the authors
decided that a business had purchased more equipment than was needed to do the current workload.

After careful Evaluation, plans to make further purchases were placed on hold, and the equipment available was used effectively to
meet immediate demands.

A Enterprise Enterprise is to complex to assume that failure to come up with a solid business Plan will be the cause for problems
Nevertheless, this failure frequently counts One of the factors contributing to business issues. As Worth has said, "Being a
company entrepreneur now takes constant vigilance in order to Be in a position to benefit from new opportunities and the access to
fresh Information and technology as they become." The first step in Doing this would be to have a plan.

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