Do Business Well

Sometimes, you have to be a clown

Sometimes, it pays to be a clown. It pays to do things that make your people and your customers laugh. Remember the power of the Court Jester: in the Middle Ages, the jester was the second most powerful person in the kingdom after the king because he made people laugh while he was telling the truth. If you truly want to capture the attention of others, make sure you amuse and entertain them. But do it in a way that is respectful and appropriate.

This point is especially appropriate to those people who have a great sense of humour. If you have this skill, use it to its maximum. If you haven’t, try to develop it. But don’t force it. Continue Reading »

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How to exercise the Power of Choice: pause, evaluate, decide, act, be slow to anger, be quick to forgive

Many would-be entrepreneurs fail even though they have the ability, the resources and the passion. You know why? Because they dare where angels fear to tread. They fire before knowing where they’re even aiming. They become victims of their passion and temper. They allow their hearts to rule their heads.

Being a highly successful entrepreneur is a high-wire balancing act. On the one hand you have to be able to pause and coolly evaluate a situation. On the other hand, you must be decisive. On the one hand you must be passionate about what you’re doing. On the other hand, you can’t afford to take it too seriously. On the one hand, you must rarely lose your temper. On the other hand, you must always forgive. On the one hand, you must trust others. On the other, you must be extremely vigilant. Continue Reading »

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A certain mystique has surrounded banking for centuries and some of it has managed to survive to this day. Considering the fact that we live in a time when old bastions of authority have crumbled and cynicism rules, this is rather surprising, but it is a fact nonetheless. Many people continue to see bankers as creatures with almost supernatural powers, in a position to decide the fate of a small business at a whim. To them, bankers are the custodians of piles of cash that they will lend only to a select group, with thedecision to grant a loan being based solely on old affiliations and personal preferences.

They tend to overlook the simple fact that in a banker’s hands, cash is practically the same as the merchandise a retailer offers for sale. Bankers accept money from depositors who expect to receive interest. They in turn lend this money out to borrowers whom they charge interest, obviously at a higher level, and the differential between the two interest rates enables them to generate profits for their shareholders. Although this may be an oversimplification, it illustrates the point that bankers are practically forced to lend out money. If they fail to do that and keep the money in their vaults instead, they will soon go out of business. Continue Reading »

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