rg“If at first you don’t succeed, give up,” is the road less travelled for leaders who continue to spend money on an acquisition they made – even though the acquisition is clearly not working out. But why, as this author asks, don’t we actually strive to create an organizational climate that makes admitting and learning from mistakes as valued as persistence and perseverance? Below, he describes four steps that can make it easy for leaders to cut their losses and save face.

In a highly volatile world, leaders cannot keep marching in the same direction simply because they have invested heavily in a particular course of action. Instead, leaders must react to changing conditions and be willing to shift direction accordingly, perhaps even to pivot one hundred eighty degrees if the situation warrants it. In a turbulent environment, leaders must gather feedback from multiple voices and assess progress against their original goals and objectives on a regular basis. As negative feedback emerges, or external conditions change, successful leaders learn and adapt. Unfortunately, far too many leaders stick to outdated strategies for far too long. Why do they fail to adapt? In part, many

Benefits of doing business online

benYou don’t have to run your entire business over the internet to benefit from online business opportunities. Small businesses might only need an email address to communicate with their clients, customers and suppliers electronically. Other businesses might use their website to conduct their entire business online.

The many benefits of online business include:

  • global access, 24 hours a day, 7 days a week
  • improved client service through greater flexibility
  • cost savings
  • faster delivery of products
  • increased professionalism
  • less paper waste
  • opportunities to manage your business from anywhere in the world.

Customers may prefer to visit your website to find out about your products and services, instead of visiting you in person. They will also expect to see your website address and your email on business cards and other promotional materials.

Online business opportunities

How you manage your business online will depend on the products or services you offer. You may be able to use the internet to:

  • run an online shop
  • manage your suppliers
  • communicate with your customers, and get their feedback on your business
  • offer services online
  • allow customers to make reservations or appointments online
  • manage your finances, such as online banking, tax and employee pay
  • research competitors.

Future opportunities

Keep in mind that your business, as well as the variety

Business Tips From 7 Highly Successful Entrepreneurs

Entrepreneurship is not for the faint of heart. Running a business can be sdchallenging, and it takes hard work and perseverance to achieve a high level of success. Whether you’re already in business, or looking to start a business, it pays to heed the advice of others who have walked in your shoes. I asked a few self-made millionaire entrepreneurs to share their advice for being successful in business. Here’s what they had to say:

Even when you have everything to lose, act like you don’t

I used to have nothing to lose, but now that I have a lot to lose, I have a whole new perspective on this. Even after you’ve made it to the top, you still have to act like you have nothing to lose. And beware a man who has a great deal to lose, but acts like he doesn’t. Regardless of the amount of money a person has or the size of their company, or the amount of wealth they have—those people that take action and risk without the fear of failure are the ones that will ultimately take market share.

Work toward being significant

If you want

The best ways to trade, which will manage the newcomers in Forex

Samih approaches to trading on the currency market is not enough, and they each differ substantially. As examples, it suffices to recall system trading on technical analysis or situational (intuitive) trading based on the trader’s experience.

In this review, I would like to stay at the best way to trade Forex for beginners. Newbie traders can learn forex trading tips.

The fact that a novice trader on a number of objective reasons, most likely, not be able to cope with the many systems that use in their work professionals. What do those who are just starting to work on the currency market?

Simple ways to trade Forex for beginners.

Trading strategy at all should not be very difficult to use it to able to make money. Oddly enough, but at the disposal of traders, there are simple systems, with which you can successfully trade on Forex. It is believed that the simpler the strategy, so it is safer and it makes sense.

The simple ways to trade Forex for beginners differ from the complex strategies of professional traders?

  • They may be less profitable.
  • They may be designed for a limited number of currency pairs.
  • They are easily arranged, and therefore, for them to use enough to have

Potential game changer for Detroit’s housing problem

Potential game changer for Detroit’s housing problem

Plus, if you’re a Detroit homeowner and know you can’t get a higher appraisal for your home improvements, there’s little incentive to invest and upgrade, which only adds to the city’s blight problem and declining population. The upshot is a “vicious cycle” of unprofitable rehabilitation and little incentive to invest in property, according to a new update from the Washington, D.C.-based Urban Institute that focuses on economic and policy research.

“In Detroit, the appraisal problems are so acute,” said Laurie Goodman, director of the Urban Institute’s Housing Finance Policy Center.

Read MoreSome Americans can’t afford to buy homes in their hometown

To offer a sense of the city’s struggles, consider that there were only about 500 mortgages in 2015 in Detroit, Goodman said.

Now a new program is expanding and hoping to gain more traction by targeting Detroit’s appraisal gap through the use of second mortgages

To make up for the appraisal shortfall, a borrower is encouraged to simultaneously take out a second mortgage to cover the difference between the purchase price of the home, related rehab costs and the

Weaker US small business confidence bucks firming data

U.S. small business confidence declined further in February as lingering concerns about sales growth and profits hurt capital spending and hiring plans, a survey showed on Tuesday.

The National Federation of Independent Business (NFIB) said its small business optimism index dropped one point to a reading of 92.9 last month, with none of the index’s components showing an increase. The index decreased 1.3 percentage points in January.

“Spending and hiring plans weakened a bit as expectations for growth in real sales volumes fell. Earnings trends worsened a bit as owners continued to report widespread gains in worker compensation while holding the line on price increases,” the NFIB said in statement.

The sustained weakness is at odds with economic data such as employment, consumer spending and manufacturing that have suggested a pick-up in economic activity after growth slowed to a 1.0 percent annualized rate in the fourth quarter.

Gross domestic product growth estimates for the first quarter are currently above a 2 percent rate.

Six components of the NFIB index fell last month, while the remaining four were unchanged.

Labor market gauges softened slightly and the NFIB said that likely reflected the tepid economic growth in the fourth quarter as the

Main Street strengthens but tough lending conditions linger

Across the board, more small businesses reported stronger performance in 2015, though tough lending conditions persisted.

That’s according to a 2015 small business credit survey report released this month, a collaboration among seven Federal Reserve Banks. More businesses reported stronger performances in profitability, revenue gains and employment growth in the survey compared to 2014.

“Both firm performance and financing success rates improved year over year,” the report said.

The report focuses on responses of 3,459 employer firms from 26 states. And the data shed particular light in three areas: start-ups, microbusinesses and growing firms. Growing businesses are defined as those with increasing revenues and employees, and plans to boost or maintain their workforce.

Despite the overall gains, half of of the small businesses reported financing shortfalls between the third quarter in 2014 and third quarter in 2015. That means the businesses were approved for loans less than the amount requested. Microbusinesses and start-ups had the largest unmet financing needs with 63 percent and 58 percent, respectively, reporting a financing shortfall.

Meanwhile, traditional small banks remain the lender of choice for small businesses. Small banks approved at least some of the amount

Read the Full Text of the Eighth Democratic Debate in Miami

Former Secretary of State Hillary Clinton and Vermont Sen. Bernie Sanders met for the eighth Democratic debate in Miami Wednesday.

Hosted by CNN and Univision at Miami Dade College, the debate focused on immigration issues but also touched on foreign policy, climate change and Wall Street reform.

The moderators were Univision anchors María Elena Salinas and Jorge Ramos and Washington Post reporter Karen Tumulty.

Here is a full transcript of the debate.


SALINAS (through translator): This will be the first and only debate the candidates will do, taking into account the millions of (inaudible) voters (inaudible) Univision News, together with the Washington Post.

RAMOS (through translator): Here with us tonight is Karen Tumulty, Washington Post correspondent (inaudible) specialized in national policy.

SALINAS: Welcome, Karen.

SALINAS (through translator): Now, we’re going to welcome the protagonists of this debate. First, former Secretary of State Hillary Rodham Clinton.


And Senator from Vermont Bernie Sanders.


Welcome to both of you. Thank you for being here.


SALINAS (through translator): Welcome to both of you.

RAMOS (through translator): But before we continue, we want to welcome Sebastian de la Cruz (ph) who is going to sing the national anthem.

Sebastian, welcome. Good evening.




SALINAS (through translator): Thank you for being with

10 Tips for Successfully Rebranding Your Business

You may start your business with a winning strategy, but what happens when things change and your brand no longer reflects the message you want it to? Whether your business has suffered damage to its reputation or your target audience has changed, there are plenty of reasons why your business might be in need of rebranding. But a true rebrand means so much more than just a new logo, name and site redesign — it’s a complicated process.

Ready to change your business’s image? Here’s what experts had to say about rebranding the right way.

“Don’t spend too much time getting lost in the mythology of the story behind the brand assets. Branding experts can be great storytellers but remember that most people are never going to pay that close attention to the deeper meaning of a tiny element of your logo.” – Emerson Spartz, CEO, Dose

“Remember that branding is as much about what you are not as [it is] about what you are. Too many businesses fail to exercise the discipline required to narrow in on what makes them special or unique. They try to include all of their customers or markets and

European banks fail to sell Coco bonds

UK and European banks have failed to sell any so-called Coco bonds this year amid worries about the health of the banking sector.

Cocos – short for contingent convertible bonds – are turned into shares if a bank starts to struggle.

European banks raised around €45bn from the bonds last year.

But in 2016 none have been issued, according to data company Dealogic, amid wider investor fears about investing in banks.

Last week, European Central Bank president Mario Draghi sought to calm fears that banks would not have enough capital to cope with another financial crisis.

Coco collapse

Cocos are seen as riskier than traditional bank bonds because they offer lenders less security.

“European Banks Coco Bond Sales 2016: €0bn; 2015: €45bn; 2014: €46bn; 2013: €27bn; 2012: €5bn,” tweeted Lawrence McDonald, a financial consultant and former Lehman Brothers executive.

Banks had planned to issue €40bn of Coco bonds this year, according to Dealogic.

That leaves them facing a financing gap at a time when analysts are warning that Europe’s banks must also deal with rising costs and slowing revenue.

Bank results

Three of the UK’s biggest banks – HSBC, Lloyds and Royal Bank of Scotland – will report their company results for 2015 this week.

Analysts forecast costs will

Top 10 Plan Mistakes to Avoid Business

Business Plan Mistakes

The importance of business planning is widely documented; however, guidance as to what constitutes good business planning is less clearly defined. This article aims to redress that imbalance by describing 10 of the most common mistakes that occur in business plans.

While the business-planning process is in itself a very worthwhile pursuit, most business plans are produced for a specific purpose. The plan is used as a means to convey an idea with a view to achieving a specific goal, e.g. securing funding. Hence the plan needs to be tailored with the audience in mind, and good knowledge of their requirements will help shape a winning plan.

For example, the requirements a Venture Capitalist will have in assessing a plan seeking to secure a million-pound investment will differ considerably from those of a local bank manager who needs a plan to support a small-loan application. While the former will be primarily looking for capital growth, the latter will be more concerned with security. Regardless of the specific purpose of the plan, these following business plan lessons will apply.

  1. Incredible financial projections

One of the key areas business plan readers will focus on will be ‘the numbers’. Specifically, they will concentrate on

What to do if your business is operating at a loss

It’s not uncommon for businesses to operate at a loss, especially those still finding their feet. But if your business is losing more money than it’s bringing in, you’ll need to make some changes to keep your business running.

What is ‘operating at a loss’

Operating at a loss is when you’re spending more money than is coming in to the business.

Businesses often operate at a loss temporarily when starting out or in periods of growth. This is okay if you’ve got enough in the bank to cover the costs of running your business until your income picks up.

But if your business is frequently operating at a loss because of slow sales, you’ll need to make some changes to how your business is running. Think about consulting an advisor to help you turn things around.

Tips on preparing for advice

How to know if you’re operating at a loss

  • You don’t have enough money to pay your bills.
  • Your bank balance is negative and you don’t know how to get it positive again.
  • You’re not selling the amount you needed to in your forecast, eg if your business model

5 ways to avoid losses in commodity market

Commodity markets have a tremendous impact on the economy and the life of people. Though demand-supply is the prime factor behind the price volatility, currency moves, geopolitical issues, economic growth and government policies are other factors influencing commodity prices. Typically, the commodities market is subject to rallies and crashes, so it is more susceptible to speculation than the stock markets.

Before participating in commodity futures, an investor or trader should be prepared and ready to learn how the market works. Futures contracts unlike stocks have different expiry periods. As the futures platforms are primarily intended for hedging with a view to reduce the risk in portfolio, those who are participating in the commodities segment without fully understanding the fundamentals of the contract will stand to lose their initial capital or a part thereof. Anyhow, if we follow certain guidelines before investing, it can reduce the threat of losses and maximise profits.

Diversifying capital

It is very essential to articulate the proportion of risk and reward. One must know in advance how much risk he can afford on his available capital while trading in futures. Also, never invest the whole money in a single commodity. The best option is to allocate the capital in

Aligning Training Programs with Business Objectives

One of the best kept secrets in modern management is how to align the training program with organizational objectives, and how to measure the alignment. Traditional methods fail flat, because they focus on what “The Manager” (or The Teacher) wants. They ask: Why do you want to train your employees?

The answer is simple, but not useful: you invest in training because you expect a reasonable return, but training is expensive, and its ROI is difficult to measure. Throwing money out of the window is expensive too, but we have learned not to do it because there is clearly no return on this action. The problem with training is that even if we are not getting any results, but we continue to send employees out to be trained.

Some training program managers are happy to state that they bought and delivered the budgeted amount of training hours, and that’s it. Let them be. They won’t understand. Let’s focus on the managers that want to get results, and ask them why they send their employees to training. Most of the time I get answers like:

– “To award prizes to deserving employees.”
–  “To motivate them.” (whatever that means)
–  “To comply with policy/law/regulations.”

Management by objectives

The idea of management by objectives (MBO), first outlined by Peter Drucker and then developed by George Odiorne, his student, was popular in the 1960s and 1970s. In his book “The Practice of Management”, published in 1954, Drucker outlined a number of priorities for the manager of the future. Top of the list was that he or she “must manage by objectives”. John Tarrant, Drucker’s biographer, reported in 1976 that Drucker once said he had first heard the term MBO used by Alfred Sloan, author of the influential “My Years with General Motors”.

With the benefit of hindsight, it may seem obvious that managers must have somewhere to go before they set out on a journey. But Drucker pointed out that managers often lose sight of their objectives because of something he called “the activity trap”. They get so involved in their current activities that they forget their original purpose. In some cases it may be that they become engrossed in this activity as a means of avoiding the uncomfortable truth about their organisation’s condition.

MBO received a boost when it was declared to be an integral part of “The HP Way”, the widely acclaimed management style of Hewlett-Packard, a computer company.

Using Business Objectives to Control Scope

Often when a business analyst is assigned to a project, they are presented with information about the project. Typically, they are given a product concept and perhaps some product features and qualities already defined. A few success metrics may exist, such as the product launch date. From here, the business analyst is expected to carry on and define the rest of the requirements necessary.

And while this approach realistically will not change, why not back up a bit and try to understand what problem the product is trying to solve? Businesses start IT projects because they are trying to solve a problem. Those problems are generally related to revenue, costs or compliance.

  • Business problems related to revenue generally revolve around the need to make more money.
  • Those business problems around costs relate to costs being too high, and the desire to lower operating costs of the organization.
  • Compliance problems arise when the business has a regulatory or compliance issue that they must address or follow.

On the surface, it might seem that the Business Objective for a particular problem is to solve that problem. However, Business Problems rarely articulate the specific metrics that a business is trying to achieve. It’s the metrics that help us

Six Strategic Business Objectives

Strategic business objectives are goals deemed most important to the current and future health of a business. Objectives are prioritized by an organization through a thorough analysis of business practices such as a SWOT analysis. SWOT stands for strengths, weaknesses, opportunities and threats. Though prioritization of strategic objectives is unique to each business, common objectives exist. Six of the most common areas to focus strategic business goals are in the areas of market share, financial resources, physical resources, productivity, innovation and action planning.

Increase Market Share

In order to grow a business needs to increase their share of competitive markets. Marketing plans start with the overall strategic business plan of a company, but explain further how specific aims will be carried out. Marketing plans address this through defining product or service offerings, researching target markets, analysis of competition, then strategically placing, pricing and promoting the company offering.

Strengthening Financial Resources

Included in the growth objectives of an organization is the availability of capital resources to invest in future expansion projects. If a company’s financial resources are strong, capital could conceivably come from cash reserves. For many organizations, strengthening financial resources means to build cash flow or increase assets in order to attract investors and

What Is the Business Difference Between Objectives & Goals

When you plan your business’ future, you will generate a list of potential achievements you want it to reach. These are goals. The specific steps you take to get to those achievements are your objectives. The terms objectives and goals are often used interchangeably, but they each have important differentiating attributes. They are used at different stages of the business planning process, and each serves a different purpose. Goals

Goals are statements you make about the future for your business. They represent your aspirations for it. You might say, “We seek to be the most widespread widget maker in the country.” This statement demonstrates that you have lofty plans for your business, but it does not say specifically how you can meet your goal.

Importance of Goals

Although the previous goal statement about widgets does not say specifically how your company can reach it, it does serve an important purpose. Setting goals helps define the direction that a business will take. Goals should align with your business’ mission and vision statements, which are even more general and abstract statements of your business’ values and aspirations. The language used in goals can be more emotional than is used in objectives. Goals allow business owners

Bring Your Own Device Importance of Defining Business Objectives

I spend of lot of time talking with CIOs and other executives about how they can take advantage of “Bring Your Own Device” (BYOD) programs to boost productivity, increase user satisfaction, and, in many cases, reduce their overall mobility spending.

It’s not unusual in these discussions for these executives to ask outright, “What should our BYOD cost policy be?” Or “What are other companies in my industry doing?”    What I find interesting about these questions is that, while they’re definitely good questions to ask, they’re often focused more on implementation details (the “how”), and much less on overall business objectives

Very often when I’m asked these questions, rather than answer immediately, I’ll first ask the following question, “What are your business objectives for your BYOD program?”    The reason I do this is simple:   the “how” becomes much easier to figure out when you first know the “why”.  In this blog, I’ll provide some concrete examples of BYOD business objectives.   It’s worth noting that these objectives are not necessarily mutually exclusive, though they may appear to be at first glance.  In a follow-up post, I will then share some of the best practices that companies are adopting to align BYOD program elements and

The Incredible Power of Company Wide Goal Alignment and Organizational Business Goals

If your company is like many other small and mid-sized businesses, your employees represent both your organization’s biggest line item expense, and your most valuable asset. This means your company’s productivity-and ultimately, its profitability-depend on making sure all of your workers perform up to their full potential.

The need to effectively leverage the skills of employees is even more critical for small and mid-sized firms since most simply cannot compete with large companies when it comes to technology, physical infrastructure, or financial resources. To survive in today’s marketplace, small to mid-sized businesses like yours must find ways to be smarter, more productive, and more cohesive than their larger competitors.

How can this be accomplished? Studies show a dramatic increase in both worker and business performance when an organization effectively sets and closely ties individual employee goals to the company’s overall strategy. Yet amazingly, a mere 7% of employees today fully understand their company’s business goals and strategies and what’s expected of them in order to help achieve company business goals.

What You’ll Learn in This Business Goals eGuide

This eGuide will reveal how you can put the incredible power of goal alignment to work at your organization. You’ll learn:

  • The short- and long-term business benefits of company-wide

Plan Your Business Plan

You’ve decided to write a business plan, and you’re ready to get started. Congratulations. You’ve just greatly increased the chances that your business venture will succeed. But before you start drafting your plan, you need to–you guessed it–plan your draft.

One of the most important reasons to plan your plan is that you may be held accountable for the projections and proposals it contains. That’s especially true if you use your plan to raise money to finance your company. Let’s say you forecast opening four new locations in the second year of your retail operation. An investor may have a beef if, due to circumstances you could have foreseen, you only open two. A business plan can take on a life of its own, so thinking a little about what you want to include in your plan is no more than common prudence.

Second, as you’ll soon learn if you haven’t already, business plans can be complicated documents. As you draft your plan, you’ll be making lots of decisions on serious matters, such as what strategy you’ll pursue, as well as less important ones, like what color paper to print it on. Thinking about these decisions in advance is an important way