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Post by David Wyld on May 25, 2013 18:56:29 GMT -6
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Post by jalesianelson on Jun 9, 2013 10:59:23 GMT -6
Instant MBA: Reality TV Star Says Small Business Owners Don’t Understand When They’re the Problem
As I previously stated about an article, change is constant. And whether we like it or not change is going to come. This article talks about how small business owners are reluctant to change because of pride or being set in their ways. I personally have to agree, because if the change is going to benefit in the long-run then what is the big deal? Sometimes the approach they choose to take maybe wrong and need someone to step in to tell them that they need a different approach because the one they are choosing isn’t working. I understand that there may be some fear also, but trying out new things is better than repeating another failed attempt. Part of being a small business owner is not being afraid to say that you were wrong and that you do need to change a few things for a better future. Don’t be afraid to change the original plan because maybe it was not fit to begin with.
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Post by maryhilse12 on Jun 10, 2013 17:32:49 GMT -6
INSTANT MBA: Think Smaller Than Your Competitors
Interesting article, I like this kind of thought process. You don't have to be build a product that your competitors is not- easier, simpler, and cheaper. This way your broad spectrum of features allows you more access to customers. You don't have to be the first to introduce new items, just do them better. Many companies do this today, for example, coffee at McDonald's now give Starbucks a run for it's money. It provides coffee of good quality, price and location that reaches thousands more people. Sometimes, it is better to "think smaller than your competitors."
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Post by franklinvazquez on Jun 11, 2013 9:05:01 GMT -6
INSTANT MBA: Reality TV Star Says Small Business Owners Don't Understand When They're The Problem
Lack of experience in running a business can be a cause for failure; however, entrepreneurs should always have the ability to take failure as a learning experience and make corrections to make their businesses thrive. Personally, I don't think in most cases a small business closes because the owner does not understand that his or her way is not working. On the contrary, I believe that small business owners do know when they are not doing well, but they don't have the resources or experience to make appropriate corrections and avoid closing.
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Post by elvia on Jun 11, 2013 11:23:06 GMT -6
INSTANT MBA: Reality TV Star Says Small Business Owners Don't Understand When They're The Problem There are many of what I like to call "old fashion" business owners in the world. There is this nail shop around my house that I really liked going to because they were located in a very convenient location for me, but after visiting a new shop at a different location I realized how old fashion my nail shop was. They didn't have any of the new polishes or even the pedicure chairs that many of the other nail shops were getting. One day I asked them if they were going to remodel and get all the new products all the other shops had and they said it was too much unnecessary work and they weren't doing it. You can imagine how many customers they lost because of their unwillingness to change, I of course was one of them. Not too long ago, I was in a rush but I needed a quick touch-up so I decided instead of going all the way to my new nail shop I would run up the street to them, and to my surprise they were no longer in business. I'm not sure how long they have been out of business but I'm pretty sure their old fashion ways contributed to it. It is very important as a business owner to stay relevant and always be prepared for change.
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Post by kayminix on Jun 12, 2013 9:29:15 GMT -6
INSTANT MBA: Reality Star Says Small Business Owners Don't Understand When They're The Problem
Some qualities that come along with being an entrepreneur include driven, self-motivated, creative, determined, and some can be very hard headed! People who take it on themselves to become a business owner have a set idea and how they want it to work and to flow, and when that does not happen, they can be very negligent to change. Swallowing the pill that your business is failing because of choices you have made can be a hard one to take, but I think if you take a step back, reevaluate and make some simple changes, you can still make your business a success!
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Post by melissacantrell on Jun 12, 2013 12:31:05 GMT -6
Instant MBA: Reality TV Star Says Small Business Owners Don’t Understand When They’re the Problem
I think this article is a great piece of advice that I hope to remember when the time comes for me to open my own small business. I have seen many small business owners be their own demise and cause their lifelong dreams to crumble. Sometimes when you are so into something it can be easy to miss the things that are tearing your business apart. Someone from the outside on the other hand would be able to come in and clearly see the threats to your business. I think that I will combat this issue by having key people outside of my business that I trust, who I go to for advice whenever I feel I am in too far to see. I hope that if I am the problem these people will be able to tell me that honestly, and help me save my business.
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Post by neilthompson on Jun 12, 2013 15:34:05 GMT -6
Instant MBA: Reality TV Star Says Small Business Owners Don’t Understand When They’re the Problem
It is always difficult to admit that you may be the one in the wrong, but a little humility can also buy a lot of support. When you are willing to admit that you may be part of the problem and you are willing to change, you can often find that others are very supportive and will help with the change. You also need to be willing to back this up with action and make the changes as needed.
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Post by scotthunt13 on Jun 12, 2013 15:38:29 GMT -6
INSTANT MBA: Reality TV Star Says Small Business Owners Don't Understand When They're The Problem
I can understand how a small business owner wouldn't think that he/she is the problem with the company. They probably think to themselves, 'hey, I started this place, of course I'm not the problem. I'm perfect' (I know a few people like that). No one likes to admit that they're wrong; especially the owner of a company, but if you're business isn't doing well with how it's being run then you need to look at ways that you can change how you're running it and see if it works for the better. If it doesn't then it's okay; keep trying new things until you're able to fully succeed at it.
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Post by hayleymcglothren on Jun 12, 2013 22:12:58 GMT -6
Instant MBA: Reality TV Star Says Small Business Owners Don’t Understand When They’re the Problem
I am not sure if I agree with this article about small business owners not wanting to change the way they do things. As a former small business owner's wife, some things are just not within your control. When the economy tanked, people were afraid to spend money and our business started doing terrible. My husband would have gladly listened to someone else but there was no advice available that would have been beneficial to our business. Running a business period, comes with a great deal of responsibility.
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Post by lakeishabrooks on Jun 13, 2013 15:12:50 GMT -6
Instant MBA: Reality TV Star Says Small Business Owners Don’t Understand When They’re the Problem
There is great truth to this article, for many times small business owners are consumed by pride. This makes it difficult for them to accept the necessary changes. The problem is that most of them are only willing to implement changes when their business have suffered greatly and starts to fall. When indeed if they remain open to changes it benefits them in a long run where they are able to implement different methods to keep their business from crashing. Like the article points out, it is good to go back to the drawing board to determine where things started to fall off that way you can make changes to those things that no longer work for the business.
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Post by mda1287 on Jun 13, 2013 22:26:20 GMT -6
INSTANT MBA: Reality TV Star Says Small Business Owners Don't Understand When They're The Problem
Small businesses like mom and pop stores go by their own way of management and almost hardly ever change. In some cases when bigger businesses move into the area, it is often a good idea to re-look some of the goals that the company has made previously before. I don't think that they are necessarily a problem, not even for a bigger business that would come into the neighborhood. They just have to readjust their outlook and make some better plans for the future.
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Post by leannthompson on Jun 14, 2013 7:59:05 GMT -6
Instant MBA: Reality TV Star Says Small Business Owners Don’t Understand When They’re the Problem
The article for today points out an interesting but very true point what does happen with small businesses. I think to overcome this issue is to stay connected to what is going on in your community ad your target market. Also look at competitors and see how they are doing. I also think it is important as a small business owner to have staff that has the best interest of the company at heart and is creative and willing to speak up with new ideas, maybe bring in a specialist to review the business model and give pointers. I think one of the most important things about being a small business owner is to keep an open mind and don’t get to comfortable because there is always room for improvement and things are consistently changing.
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Post by kylekling on Jun 14, 2013 9:26:09 GMT -6
INSTANT MBA: Reality TV Star Says Small Business Owners Don't Understand When They're The Problem
Change is inevitable. Through out your life you will have to change something in your life. You must be open to change because it is the only way you will be able to grow as a business or company. Innovation is happening everyday and if you're not willing to change then your business will suffer for it. You must be up for trying new things and not be stuck doing the same thing just because of your pride and stubbornness.
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Post by harrisonrainwater on Jun 15, 2013 18:46:35 GMT -6
INSTANT MBA: Reality TV Star Says Small Business Owners Don't Understand When They're The Problem
I completely agree with this statement. Obviously nobody who runs a business wants to be told they are the cause of the problem. They started the company; therefore it registers as a blow to their pride. I just recently stopped working at a job where that was the exact issue. My boss was arrogant and had a harsh attitude toward her employees. The entire store was run without a computer system, inventory was kept and maintained through pencil and paper, there is no actual management, as well as no written or documented rules or regulations. There is only a business owner and her daughter who could care less about the establishment much less the people who work there. There is no telling these people that they are the problem and that there needs to be some form of management. It is unlikely that their company will be able to maintain their popularity. If only the owner would realize there was a need for proper management, the company would prosper.
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