Two Minute Business Wisdom

If you own the shares of publicly traded stocks, take ownership of you right to contribute to how the company is run. Make sure you are reading your company’s reports and turning in your proxy votes.

A Russian saying recited by Gary Vaynerchuk is the inspiration for this week’s lesson, as in the person fitting the bill should get exactly what they asked for if they so insist.

You cannot motivate your employees to care as much about you’re the business as you do. There vested interest do not go past paychecks and benefits unless they own tangible stakes in the company.

The big boys know that the little guys cannot withstand a prolonged legal battle, and can force settlements below value fairly easily. If you think you have a fight, you must be willing to fight for the long haul, and pay the costs necessary to win.

Be willing to walk away from a deal, especially if it is a change to fix a previously negotiation deal that did you no favors. Never be so desperate for work that you must take on bad deals to survive, or you will always take on bad deals to survive.

Stop trying to gather freebies. If you want to succeed at a high level of business, pay the entry fees the professional pay to play as they play. This is the way to garner the respect of the moguls you want to call peers.

People generally fear loss more than they appreciate gain. When you know what people fear is the downside of doing a deal with you, you can target people more willing to say yes to your offers.

The key to your eventual achievements of greatness is getting started. From there, it takes patience, perseverance, and faith to keep going as you rack up more wins and milestones.

A basic lesson that is hard for many to accept is that your target audience is never, ‘Anyone with a pulse and money in their pockets.’

Unless you are in the magic business, you should not be impressed with your ability to mask the processes and successes of your business.