In their excellent business book, Great By Choice, authors Jim Collins and Morten T. Hansen make some very interesting points about luck in business. They summarize it by suggesting four possible outcomes from luck and they are:
Great return on good luck
Poor return on good luck
Great return on bad luck
Poor return on bad luck
In business, we are going to have some timely breaks and some untimely bad twists in fate. This is a given but what we make of these can to some degree be controlled. In the book, they give several examples of businesses that have capitalized on both good and bad luck. They also outline some missed opportunities.
The same carries over to all aspects of life. It would be great if we could figure out ways to make the best of whatever comes our way.
At Fluid Power World, we don't rely on luck for the success of your ad program. In fact, we guarantee results from our digital network. If you would like to know more, please contact me at email@example.com
I will put together a marketing program for your company that will produce measurable results. It would be difficult to fully explain over this blog but if you contact me, I can review the many options that we have available for fluid power companies to achieve greater success in 2016.
We still have one more issue of Fluid Power World for our readers this year and that is our December issue. The last month of the year is as good as any for reading and learning about fluid power components and systems and how they work.
As we close out our first full year of service to our audience and advertisers, our December issue will feature reports on industrial hydraulics, pneumatics, mobile hydraulics, and more. We cover the supply chain with our distributor section as well as research and development. Our editorial includes both tutorials about specific products as well as application stories on how components are best applied.
This is what Fluid Power World magazine and digital network will do for your company in 2016. We have the means to accomplish both goals and I would like to consult with any fluid power company interesting in having my assistance.
As Publisher of Fluid Power World, I am in a unique position to work with your company to raise the awareness of your company and products while finding new customers and prospects. In addition to our magazine which will be published 8 times in 2016, our network of websites and e-newsletters has an excellent reach into the buying audience.
We still have time to set up a program for success. Just contact me at firstname.lastname@example.org.
This is not about greed, it is not even about wealth necessarily. It is about return on investment, that is the investment of your time. I suggest that everyone visit the library or Amazon.com and look into getting a copy of this book. The book was written by George S. Clason in the 1920's but it is still relevant today.
The basic principles as I understand them are that "A part of all you earn is yours to keep," and trust your investments to experts. The concept is that you keep at least ten percent of all of your earnings for your entire working life. So for example, if you earn $30,000 at your job, live as if you earn $27,000 and bank the $3,000 every year. If you earn $50,000, live as if you earn $45,000 and bank the $5,000.
It is not enough to just bank the money though, you need to make it work for you. That is very difficult in today's economy because of the very low interest rates payed by banks. This is where the advice about seeking expert help is so important.
Many of us will make the excuse that we need every penny that we earn to live on. The RMIB theory tells you that you need every penny of the 90% to live on and that you owe it to yourself to pay yourself the 10%. Over the years, the savings compound and your return on investment of time becomes your wealth.
Consider yourself a personal corporation with your earnings as your revenue and your savings as your profit. If a corporation achieves a 10% profit margin, that is not very favorable but at least it is profitable. Why should the expectations be less for an individual. Shouldn't your "profit" be at least 10%. By all means, you should not be operating in the negative.
Pick up a copy and read The Richest Man in Babylon. It is worth the investment of your time.
Last week, I finally got a chance to listen and watch the archived version of the NFPA economic update webinar, done by ITR, Institute for Trends Research. I came into it expecting more worries but came away encouraged that 2016 will actually be a reasonably good year for our fluid power industry.
You can take in the webinar for yourself if your company is a member of the NFPA. Just visit their website. Just register and get the webinar for free. You too will enjoy Eric Armstrong's energetic introduction .... Goooood morning everyone!!!
The theme for this program was Cautious Optimism, which sounds good to me since we have had a bit of a rough go in 2015. It looks like increased existing home sales, housing starts, and retail sales have helped the economy of late and gives cause for optimism for 2016. We are still cautious of the energy sector and the strong dollar for exports.
Overall, there is a nearly 4% growth in fluid power projected for 2016 after a slow start and I like the sound of that. 2017 should be a very good year too. With that said, there is no time like now to promote your company and products. Fluid Power World magazine and digital network offers the best way to reach the market. Let me help!
When it comes to a job, your job perhaps, there is no absolute security really. Things could change at any company or organization that require a change in the job landscape. In such cases where change happens, there is not much an individual could do about that.
Having said that, there are things that you could do to sustain your job or career and they are rather simple policies that you could follow. They all center around respecting your job. If your job is what is funding your very living and lifestyle, then I would think that showing the greatest respect for your job should come naturally. But what does that mean?
Well, being very respectful of the requirements of the job is a starting point. Show up on time and stay until you are supposed to stay and do what you are required to do in between is a minimum. There is a lot more to it.
Here is a perspective that works. Think of how you would approach your job if you were a major stakeholder in the business and your very performance could determine the survival and success of the company. What would expect yourself to do if you were the owner of the business? You would probably be very judicious with your time and with your efforts to give your very best. Well, take that approach and see what happens.
Continuous learning about your field of specialty is also a key to success. Continue to look for ways to learn and grow in your profession. Read every day. Attend seminars. Converse with other people who have been successful in your same field. Make every day another step in your personal success and the success of your company. If you don't feel a need to make your company successful, then you should consider looking elsewhere.
There are ways to help to not only sustain but to grow your career and job. It does start with respecting the job and doing things to get better every day.