A site for recollection and reemphasis of entrepreneurship and sound business practices A crucible for theory and practice of business entrepreneurship
Every generation needs a revolution - an entrepreneurial revolution
Every project management plan must include:
1. Project plans and estimate
2. Construction - building it
3. Maintenance - keeping the structure new and clean
The same thing with cost estimate. Cost estimate must include the 3.
Some offers or bid may be low for #2, but expensive in the long run for 3. We see that in car repairs, very difficult to remove parts costs much. Some parts may be cheap but difficult to install.
Every generation needs a revolution - an entrepreneurial revolution
Fired from the companies they founded!? Not for a cause.
Some of them: Steve Jobs, Elon Musk, Uber founder.
These are not isolated cases. This may happen everywhere. To many founders?!
It happened to me twice: first in a financial institution and second in family corporation that owned subdivisions, memorial park, commercial complex, financial institutions. The engineers of the coup are now gone.
Caused by power struggle, politics, envy. Especially if the company is doing well.
Every generation needs a revolution - an entrepreneurial revolution
One of the aspect of critical thinking is thinking out of the box. Not thinking traditionally commonly
One way is lateral thinking started by Edward de Bono.
So for instance, when the action/strategy is COLLECT, the branch is null option. Do not collect.
So for instance in a DUI, it could have been that the decision to have BAYAD CENTER and terminate the army of collectors who could abscond with the money, be held up and cause huge cost for the DUI. So instead of going house to house to collect, customers will be forced to pay to the business offices, bayad center. Smart eh.
Same for bricks and mortar store shifting to online selling We have employed this in selling. We get more sales when we have STOP SELLING ORDER
So for a frozen food company, when they wanted to expand, they employed do not expand. So instead of having cap ex for new plants and equipment, they just networked with other food processors, piggybacked used their brand and supply chain. Expansion without expanding physically
