| How do you formulate workable strategies? The | | | | have much material from well known strategists and |
| success of every small business depends on the | | | | business managers does not necessarily mean that |
| actions taken by the entrepreneur and the results | | | | you will be successful. I want you to know that |
| achieved. But you need to understand that being | | | | application is a better challenge for you than acquiring |
| profitable is not a one day event or something that | | | | the information. |
| happens overnight but is a process which requires | | | | The truth of the matter is that some information |
| continuous learning. This means that every time you | | | | that is useful to your competitors may be unhealthy |
| fail in business, it should be a challenge to make you | | | | for you and therefore work against you. In fact, if |
| sharper in future. One of the most encouraging | | | | your competitor is using one strategy, you need to |
| aspects of small business management is that | | | | look for a better one that can counter your |
| information is readily available. Unfortunately many | | | | competitor's. Thou many writers have done a lot of |
| business managers and entrepreneurs end up | | | | writing on business management skills, very little has |
| frustrated because they lack proper business | | | | been written on implementation. This has made it |
| strategies to implement these techniques. | | | | difficult for many ambitious people to arise and |
| I must admit at this point that it is one thing to have | | | | become effective chief executive officers. Of course |
| the ideas and quite a different one to implement | | | | many young people are wondering what successful |
| them. | | | | people may have done to bring them to their current |
| Idea formulation and implementation need different | | | | state. As you well know, a successful business must |
| approaches. If business management was all about | | | | have an effective manager. But how do you become |
| knowing what to do, then we would not have | | | | one? Nevertheless, I advise people to concentrate on |
| unsuccessful managers who have read much on | | | | customers and not competitors. |
| management. This means that the fact that you | | | | |