1. INTRODUCTION .
2.COST SAVING METHOD.
3. BUSINESS SUCCESS.
1. INTRODUCTION.'
' Find a problem. Solve it.'. But first probe yourself. Get a robe stand by. Tie what can rob success. Take away what can mob it Retain what replaces sob. With what finds the cob. Tell brain ,turn cob into a hub Find business to solve it Like a seed , it comes single Often solution comes double Find A Problem'. Solve it.
2. COST SAVING METHOD.
I). Economic cost in a capitalist economy is driven by profit motive. Social coat focuses on welfare and general standard of living. Profit results from economic activity where total cost of producing goods/ services is less than total revenue. PROFIT= TR- TC.
ii). Business manages cash flow operations with their assets and liabilities. The plan is that marginal operations level, marginal revenue should be greater than marginal cost. Then there will be profit.
Traditionally, the four factors of production are , Land , Labour, Capital and Entrepreneur . Modern economics include the fifth as Environment. These are resources purchased as costs, to produce goods/ services.. Total cost = Fixed cost+ Variable cost. When commodities are sold they generate revenue.
iii). Having laid down , foundation, we will examine how the Cost saving method works.
(a). Cost over -runs can result from poorly implemented projects, which couldn't be completed as planned. They incur additional costs to complete them. Contract work is such that should be both technical, professional and administrative. These should constitute members of the Tender Board. And follow guidelines . Check past contractors performance. Their recommendations should be above board, so as to reduce and or eliminate project completion disaster. And establishment of contingency vote in organisation as part of planned annual budget is going to be helpful.
(b). Cost Saving Method ( CSM). Usually, since the budget is often tight, perhaps macroeconomic and projections are falling short . Budget should be flexible to move idle funds from one section to another to meet unplanned emergency. This is crucial because it could have serious trade off if delayed, with more cost damage. Then reconciliation account could always be done later.
(c). CSM for Private and Public liability companies, could follow these check list. Location of business. Customers should have access to where it is sited with minimum traffic on the road. Where there is high transportation cost away from point of high demand, business will lose market. Locate where it has been duly assigned and build your organisation from there.
(c). Labour empowerment and good condition of service. The greatest Investment without question is in self. Relevant knowledge confers liquidity on whosoever that has it. It's cash convertible, whether as employer or employee. It's' a plus for business because of improved productivity and efficiency. Output will likely overtake cost.
Love at work and general Improvement in workers welfare package will boos workers effort. It will reduce tension, and litigation and arbitration between labour unions and company ,
(d). Update to latest version of knowledge and application as well as machinery . The Digital Economy has speed. Don't be left behind its very costly. Be excited and enthusiastic with new technology.
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(e). It saves cost, spending time looking on oneself in the dark is to truly know ,what it is to stand in the sun'. Our greatest weakness lies in giving up. The most certain way to succeed is always to try one more time. That's cost savings , than to dig in and remain a failure.
3. BUSINESS SUCCESS.
'When your WHY is big enough, you will find your How. '
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I)'. Every decision we make is a risk as we do not know know for sure, what happens in future' Therefore, it's important to take proper risks. The best prediction for future is your will. The best teacher is experience. Sadly, it tests you before it gives the lesson. So, learn from achievers, successful people., Ask questions. Their wealth of experience , constitute resource for success. In life.
I). . The first Cost Serving Method (CSM) to make business' success is:
(a) To find your purpose in life. Take time to think greater than yourself and to Imagine a a world without you.. Most people don't have a compass of their life.M.any people drift through life without having a clue what they can achieve.
If you discover early what that life purpose is, it will open your life to do you couldn't . An artist knows he is one. And how to work and create image he sees in his mind. But it's opposite, if one doesn't know he is an artist and to make a masterpiece out of it. Self awareness is beginning of success'.
(b). Sometimes, it's not always who has the talent. It's about hunger. Genius is 1% while perspiration is 99% . It's very costly to Re- arrange the process. Albert Einstein was a genius, but curiousity serve his hunger very well, to do extraordinary things.
ii). What is my purpose in life has both cost attraction ,worth exploration and protection. It's what is in the head that determines what is in the hands. People have given away their self worth because of condition.Let's pay the cost to service ourselves that will make way for us to become business' success.
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(b). CSM serves business success well with question to answer:. What do I want to do with my life.? What am I passionate about? What do I not suck at ? What am I willing to struggle for? Such questions with clarity , failure with learning etc. These motivate great efforts with Commitment, tenacity and continuous, tenacity with trials etc. We are capable. ' Nature has given us all pieces required to achieve exceptional wellness and health but has left us to put these pieces together. Business success, therefore is achievable. With cost saving advantage, provided we put the pieces togethe
