Saturday, March 10, 2012

How to be successful as a business owner

After dropping out from regular employment in 2002, I stopped working for multi-nations corporate companies. I worked for several family type of business. During these 10 years I noticed successful owners of these business have the following common traits:


  1. Hot tempered - They enjoy shouting at their workers and humiliating them.
  2. Stingy - They are very calculative, trying to save every possible cent
  3. Exploiting - They exploit everyone whenever there is the chance to do so, like not giving overtime payment where it is due, not giving increments to workers who have worked for many years.While dealing with suppliers ,they always try to short change them, and delay payments for as long as possible.
  4. Thick skin - They are not ashamed to do all the above event though they know very well others are well aware of this.
  5. Want face - This is very contradicting to their thick skin behavior, they like to bask in the lime light by fighting to become office bearers of various associations, clubs etc.
  6. Pound foolish penny wise - All the money they saved by swindling, exploitations, cheating will be sometimes wasted in foolish spending which they thought are smart.They buy huge volume of stock in order to gain bulk discounts, but forgetting they do not have enough space to store them. Then they will have to incur more expenses to acquire new storage space. Otherwise the stock which are not properly housed, will be either stolen or damaged by staff carelessly knocking into them because they are blocking the passage way. And don't forget the stock may be expired if it is not cleared soon enough. If caught with selling expired goods the owners may be fined heavily.
  7. Workaholic - They can work without meals and sleep when they are busy. They want their workers to work like them but not willing to pay them well.They work hard then reap huge profits, while the workers work hard but the income remain the same.

So, you want to be a businessman, how many of the above match you?

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