There are a great many reasons that may lead you to start your own business such as early retirement, resignation, work overload, low financial standing. The reward for all problems and difficulties connected with business setting up is obvious – you will be the master of your time and income as well as have the possibility to obtain long-awaited independence.

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Once lumbermen were offered to take part in a competition. There were two volunteers who were asked to chop as much wood logs as they could during one hour. A judge gave them axes and sounded the start. The first lumberman plunged into chopping wood logs right away. The second one calmly took a grindstone and began to grind his axe. It took him half an hour to finish grinding. While the first one had a pile of wood logs chopped the second one just started chopping. He worked in such an easy and skillful manner that people around started to look at his work with admiration. As a result the second lumberman celebrated his victory.

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Before it had been considered that true leaders (especially business ones) never made mistakes. But things have been changed. Leaders are also humans and it is human to err and make mistakes. All big companies have a collection of mistakes to boast of. Here is the vivid example of it. In 1986 General Electric under Jack Welch’s leadership had acquired 80% of Kidder Peabody Company for US$ 600mln. This mistake cost them US$ 1,2 bln.

Jack Welch commented: “I rewarded people for their mistakes if they failed in an attempt to make changes. The main thing here is not to be inactive and afraid of making mistakes. I keep saying to people that if your boss managed to buy Kidder Peabody and goofed up all business than you may do the same. This saying appeared on the front-page of The Wall Street Journal nineteen times. So, if a boss is able to do it and overcome the consequences than you have a free hand. Any way, you are not likely to do anything worse than I have done.”
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Benchmarking is a new buzzword in management. Some people are quite wary of this term fearing that industrial espionage may use this word as a cover. In fact, there is a fundamental difference between these two methods. Benchmarking is a management tool for measuring company’s performance which is supposed to be a general knowledge.
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Most of us dream of quit working as an employee and set up own business. But it is not that easy to achieve success in own business. There are a set of tips for making your business successful!
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The majority of people strive for financial welfare on various reasons. However the way to material wealth is far from being simple. Even the high income does not guarantee the continual growth of your bank account. So, let us discuss the reasons of why money slips your fingers.
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