Bubbles & Global Trends
An economic bubble is trade in high volumes at prices that are considerably at variance with intrinsic values. It could also be described as a trade in products or assets with inflated values. The cause of bubbles is unknown, however many explanations have been suggested, it has been recently shown that bubbles appear even randomly at time, without any rationality.
I was very intrigued by the idea of bubbles, how a good can become the leading product in the market that everybody wants with such high demand then suddenly it falls because everybody starts selling. This type of activity in the market can easily cause a collapse in the economy especially if it is ...view middle of the document...
How To Have A Successful Business
I have learnt that there are many ways to create and maintain a successful business. The two most important in starting a business is to have a good market opportunity and to have a passionate team that is not only motivated by money. Although the money and success is a part of the motivation behind creating the business there should also be a vision and a belief in what you are doing. You must be passionate in order to achieve your maximum potential.
To Make a business successful you must be organized at all times. Make sure you are on top of all the records and finances to make sure there is no leakage in the cash flow. Also have an efficient filing system that will allow you to pull out any document you need, whenever you need it.
Although organization is a very important part of having a successful business that is not all, you also need to monitor the market and keep an eye out for competition, if they are doing something better than you are find out what it is and use it to your advantage, be creative in your tactics and marketing, if they are charging less money than you and stealing away your customers then find a way to make the consumer pay that extra dollar at your establishment. it is very important to know the market and know the consumer.
In order to be successful you can't own the business part time, you need to be fully committed if you really care about its success. You must stay focused and prepare to make sacrifices such as not going out on the weekend because you need to do more research on the market or staying late to keep on top of the booking. Be prepared to spend less time with family and friends but also have a goal to when you can take it easy and you must have an exit strategy since the start. Make sure you can leave when you want to with as minimum hassle as you can.
Basically the key to having a successful business is; commitment, passion and sacrifice, just being in for the money is not enough you aim should be to provide a great service that you would use yourself show your customers that you care and build that brand.
How To Handle A VC
The most important part I believe is to assure the investors that you are personally capable and credible. You need to give off the answer yes to the following questions without having to say anything; Are you the kind of person able to build a company? In an existing company, it's more: Are you the kind of person who can manage a complex project competently? How personally committed are you to the idea that you are proposing?
You must reveal yourself, become transparent, but don't give out too much. Tell them who you are, give off confidence and control and you and the investor need to like each other because you are about to start a five to ten year relationship and if you two don't like each other then that is just a recipe for disaster.
An investor will...