31/03/2009

How do you define being in Business?

I have been meeting people all around the world and I get fascinated when I meet people who are in a real Business meaning, they have goods to sell to consumers. It also means that they have a market to sell into, a solid business plan, they have done their go to market strategy, and they know who they will sell to etc…

Now if you take the word Business etymologically it means or relates to the fact that you are busy either as a person or as a society as a whole by doing commercially viable or profitable works right? Indeed there are other kinds of value such as social value / societal value. Business can be without profit, as long as it is being done cost-effectively making best possible use of the inputs including the money in.

Considering we are in a very messed up financial climate, the US companies that are selling to Europe are in good shape and rubbing their hands as the Euro, the GBP and Dollar are all over the place, but the people who are trying to enter the Business world this year without understanding the pros and cons will really struggle. We all know if you can't invoice someone then its not a business its a hobby.
Business people know that a significant asset in their net worth is the value in their network. Connectedness is effectiveness.

Networking sites can teach people how to network more effectively but can't really teach them how to run a business!

@mjamme

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