Mark,
What a wonderfully brave message to post. You sound like a very passionate and probably experienced businessman who may very well have witnessed these business traits or experienced them first hand. Please allow me to debate (after all, isn't that the foundation of business....debate):
1. "How to make 100%, Positively Certain Your Business Fails In The Next 2 Years."..I do not believe anything is 100%, especially in business.
2. "Drop your fees to a ridiculous price."....I have read many articles on SOT over the past week or so regarding "price cutting". There is no doubt Fortune 500 companies wage price wars with their competitors. Although none of us affiliated with SOT are CEO's of Fortune 500 companies, maintaining a competitive edge by monitoring our fee structure and attempting to provide the same level of SERVICE at a reduced price is not only a healthy practice of business but economically stimulating as well. I will agree with you, however, any sort of business practice that is done without moral or ethical standards or with malicious intent can be hurtful to another company. However, to defend against such activities, focusing on the service you provide versus your product can greatly combat said battles.
3. "Stab other abstractors in the back."...Any human being who treats another human being with such disrespect gains no respect from me, weather they are abstractors, farmers, firefighters or movie stars. Furthermore, if that person is in the same business industry as me, I take great steps to protect my assets, corporate veil and I assist other companies, even if they are my competitors, in their attempt to protect the same. Sometimes you have to put business aside and remember that we are ALL human beings deserving of respect and care. LIFE IS JUST ONE BIG GAME...NOBODY EVER LOSES, HOWEVER, A FEW ARE BEHIND WHEN TIME RUNS OUT!
4. "Get so much work you can't possibly service it all."....The number one difference between the "Self Employed" and the "Business Owner"...Please, read Robert Kiosaki's Rich Dad, Poor Dad series'...the lessons learned are invaluable...but, in a nutshell, THERE IS NEVER ANY SUCH THING AS TOO MUCH WORK...There is, however, mismanagement, at which point, a "business owner" accepts the fact that he/she cannot manage/service efficiently alone, thus, retains the services of those who can and will.....YOU MUST SPEND MONEY TO MAKE MONEY. UNLESS YOU INTEND TO ONLY TEMPORARILY MAKE MONEY!
5. "Expand your coverage."....See number 4.....if you are not growing your company, you are NOT a business owner, rather, you are self employed, thus, must live and/or die by the gains/losses of the self employed.
6. "Make mistakes."...How are we to learn without making mistakes. Hell, be it not for making a terrible hiring mistake, I would never had fired the individual and replaced him with my new VP of Operations, Robert M. Huff. Email him at rhuff@statewidesettlement.com. If you think I have words of advise to offer, just spend a few minutes talking with Rob.
7. "Lose your client." My friend, clients come and go...and as I have said 100 times, NEVER LET ONE CLIENT MAKE OR BREAK YOUR BUSINESS!
8. "K-Mart."..K-mart is, to this day, the largest retail bankruptcy in US history to the tune of 16 billion dollars in pre-bankruptcy assets (Federated Department Stores, owners of Macy's was a distant second with 8 billion during their bankruptcy in 1990.). Furthermore, K-mart is among the oldest retailers, beginning business in 1899. In a nut shell, K-mart went bankrupt due to too much overhead, too many stores and stock drops...NOT DUE TO LOWBALL PRICING.
Mark, your observations are very well received. Also, my opinions are just that, my opinions. I am sure, and would hope, that not everyone agrees with me, however, being able to express our thoughts and ideas is actually what make this website, business and the world go 'round....take care buddy...JT
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