How to Think Differently in Business

To hit gold in business, you have to think gold. What is your business all about? How do you intend to maximize profits? Here are tips on how to think different in business:

Think back to the future

Don’t wait till the harsh business storm hits your business; rather, always think of what to do better or next. For example, what are the things you need to put in place to ensure business growth? What stage is your business on the business chart, that is, in areas of development, growth or decline? Is your business vision realistic? What is your current profit margin? What is your intended profit margin? How do you intend to speed up your productivity? Evaluating your business, keeps you prepared for the future.

Believe your ideas are valuable

Always think your glass is half full. Think about possibilities not only about likely constraints. As a business owner, you have to nurture a positive mental attitude; believe things will work out fine. If there are possible risks, device means to avoid or manage them. Risks are unforeseen, but you can plan ahead to avoid or mitigate them. Being positive in business enables you take a chance on yourself, be bold to take calculated risks, and believe you are adding value, even when the numbers say otherwise. That is a way of thinking differently in business.

Dig beyond your current offerings

Do not just view things on the surface. Think intensively and carry out research on other ways your business can benefit your target market. Reflect on the true realities of where your business stands at the moment. What are your business challenges? Classify them and analyse them to see how you can make a difference. Outline your business SWOT analysis (Strengths, weaknesses, opportunities and threats). Go beyond the surface; be realistic.

Your competitors are watching

Understand your business environment; be familiar with your competitors’ strategies – if you are not, you can bet that your competitors are doing their homework. What resources do they have that surpasses yours? How can you leverage to collaborate and partner to get the necessary resources? What’s the best way to build more goodwill? Do a survey on your business, and be cautious of the events happening in your business environment. It’s business, so be prepared for the competition. Business is about profit making and goodwill, be focused on these objectives.

Create a war-room

Now that you know who your competitors are and understand your type of business. Identify the threats and evaluate them. Compare your business to your closest competitor. Be battle-ready. Draft a graph of your sales and profits. Can your business survive in business storm or in an unstable economy? Figure out what you can do better? What is not working? Are your key employees performing as expected? Carry out a performance appraisal. Take action: pave the way for more business improvements, do some advertisements, up your business game. Remember it is a game of profit, and that should be your aim.

Thump your chest

What makes you outstanding makes you great. Build on your business competence and promote it. Every product or service must have its own uniqueness, that thing that makes it different from others. Device means to make your business goals and objectives unique. Distinctive competence is that special attribute that shows how your business is similar to your competitors, but different in aspects of branding, concept and product offerings.

Business is nothing without profits. A business seed can only grow if the business soil is fertile, and the fertility starts from your business thoughts. Be better by thinking differently.

Set Goals and a Definitive Purpose For Your Business

Short term goals form the basis of any business activity, be it a large business organization or a small-scale home-based business. Anyone who desires to start a business needs to have a well-planned and organized schedule to conduct it in a very efficient manner.

If you want to start a business from the comfort of your own home, an online business is the one best suited for you and thanks to the power of the internet, you can easily plan it in a meticulous way.

Effective goal setting is an extremely important feature of any internet-based or work from home business. When you start a business, chart out a clear-cut plan prioritizing your short term goals so that you don’t miss out on the important things.

Your business should focus on a distinctive purpose or ‘vision’ without which you cannot succeed. By striving to achieve your goals, you’ll get closer to your vision.

How to Set Goals

If you are a self-employed entrepreneur, you need to be very specific about your goals. The basic thing that you need to do is to list down your goals and set a target for yourself to achieve these goals.

Generally, short term goals are always easier to achieve than the long term ones. You can take one step at a time, achieving each goal within a fixed timeframe, so you know where your business stands at any given point of time.

As an entrepreneur, some of your specific short term goals maybe:
o To find a suitable business opportunity.
o Evaluation of an opportunity to assess its merits and demerits.
o Initial launch of the business.
o Establishing the right connections to carry on the business efficiently.
o Target fifty sales and make a profit of $3000 within a month.

Goals are set so that you don’t lose sight of your vision. Flexibility is an inevitable part of setting specific goals. Without goals, no action can be executed with precision and competence. As an internet business owner, your actions should focus on attaining the objectives of your business.

In an existing business too, your focus may shift to another area, so your task of new goal setting begins and you carry on the business from there with your goals in mind. Often, you listen to your gut feeling, although you may have a specific plan of action to reach a target that you had fixed.

Sometimes, your instinct does help you succeed, but it is mostly the organized course of action, focused on your short term goals, that leads you to win over many critical situations and succeed in your actions.

It’s not a difficult task to achieve your vision by setting goals. If you have the ability to think, you can have a vision. It’s as simple as that. The outcome of your business is directly proportional to your vision. So work hard toward achieving your short term goals so that you can see the big picture.

Remember that you have the power and the potential to make it big in your life by having a clear vision and striving hard to achieve it by setting short term goals.

Seven Tips When Choosing Day Trading Charts

Responsiveness: This is the most important, and it is always the biggest issue that affects your trading. I need my charts to work quickly, no sluggish price movement, and I need my charts to move smoothly at ALL times. Many charts will work fine in slow times, but just when you need them to be working the most (when the market is moving quickly) they can jam up and freeze. Trading is difficult enough without your charts freezing, so this must be as efficient as can be. A good trick is to test out your charts during a news event. Thursday morning at 830am EST open your charts and watch the jobless claims number released… do your charts freeze? If they do, make sure you upgrade your computer or switch charting providers.

Stability: You need to be connected to the market at all times, and lack of consistency with your connection is a close second to responsiveness. Day traders need to know that they can count on their charts staying in connection with the live market at all times. If you have inconsistent connection it may be your office internet connection as well, so make sure you explore all reasons for the lack of connection.

Easy to use: If you fumble with your charts because they simply aren’t easy to use its going to make your job as a day trader much more difficult. I have found in the past some charting packages never considered the trader using them when they developed the layout of all the controls. If you struggle to use your charts efficiently because it just doesn’t work right they way you need take the time to research other options that are developed with efficient use in mind. Remember, little things that slow you down as a trader will increase the number of mistakes you make and will cause you to lose confidence, and that needs to be avoided at all costs. Get yourself a set of charts that are easy to use for YOU.

Low Cost: 10 years ago charts cost me more than my rent payment each month, I’m not joking, so it was a major commitment if you wanted to day trade multiple markets. If you’ve been trading more than 3 years you remember when we used to purchase market data individually from the exchange for each market you wanted to trade… not anymore. These days we get ALL the data we need from one source and it’s very cheap. In regards to your charts, you should not have to pay very much for the best charts. With the competition growing by the day for retail trader’ business, the market for charting platforms has driven the costs down exponentially. You don’t need to pay a lot of money for great charts, just do your research and look for what matters most.

Indicator Development: We all know that technical indicators don’t make a day trader successful, but the right indicators can certainly help. I’m a believer that indicators are only useful when they save my time and limit my mistakes. You may not need to develop indicators right now, but if you work with a charting package that is well known for easy indicator development than you will always have the opportunity to use the technical indicators you desire in the future. You never know where your day trading will take you, and it would be a shame to learn on a set of charts that cannot easily be used with new indicators.

Use of Computer resources: A very important factor you need to know before you choose a charting package is how much of your computer’s resources will it be using. Have you ever seen a charting package that uses so much RAM that your computer can barely keep up? Many charting packages are not designed with the end user in mind, so when you’re shopping around for charts make sure you use them on your computer and then press control+alt+delete and look how much your computer is working to power your charts. Also ask your charting provider to tell you what the minimum computer requirements are for the charts they provide, this will give you the ability to compare to other charting providers.

Customer Support: We can’t forget that you will certainly have questions when you begin learning to use your charts. Does your charting provider have technical support? If they don’t how will you get help? If they do, is it email or phone based? I have found that the best customer service is strictly emailed-based. I would stay away from the ‘support ticket’ system because it has too many moving parts, and the phone system sounds like a good thing, but in reality you end up with busy signals and waiting for your voicemail messages to be returned. The phone is inefficient for a support team, so look for easy ways to communicate for tech support, you will be thankful when you come across an question you can’t find in the manual.