What if the Sharemarket collapses? – Executive Success Australia

I was asked recently by a friend what would happen if the share market collapsed.

I asked him why he was really worried and he said that he was concerned that he would lose a lot of money.

There seems to be a lot of people that are scared of what may happen if the share market collapses but I think there are a lot more important things to worry about, and let’s face it a lot more fun things to worry about as well.

Shares and share markets were once created to allow businesses to raise money so they could grow.  This seems a long forgotten thing and they have become something that people use to speculate on as to what shares will go up and what shares will go down.  Share market investors no longer make money from the businesses they represent but instead it’s become a sort of a gamble.

One thing I can assure you is that you could spend your whole life worrying about money and die sad and lonely.  How would you want to be remembered on your tombstone?  As a loved father or mother, husband or wife and loved family member?

A great friend, mentor etc?

Or like this:

Here lies Fred, he was a shareholder….he held shares.

My advice to my friend was simple, the answer is get out there are create something special.  Spend time with your family and your friends, build businesses and create something exciting or something you really think is worthwhile.

Have work hard, have fun and enjoy your time with those you are playing the game with–that is the reward for living…let the share market take care of itself…

If you have any questions or you would like to register for the Executive Success newsletter contact me at info@executivesuccess.com.au

Oisin Grogan

Founder

Executive Success Australia

www.executivesuccess.com.au

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ARE YOU KILLING THE GOOSE THAT LAYS THE GOLDEN EGGS?!

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Seven simple steps to a “golden goose”.

 

Every successful business has a “golden goose”…

Mr Business owner got into business as he had a passion for something. This passion turned into a product or service. People liked it, they bought it, the business grew. As the owner and staff were passionate and liked delivering the product/service people kept buying and telling their friends… The business did very well and made heaps of money too.

Does this sound like your business?

I would like to refer to this as the “Goose that Lays Golden Eggs”

Here’s the problem:

After a while Mr or Mrs business owner get a little bored or decides we must have a “better , new and improved” product, better still we are going in a new direction!

This new product is added to the existing succesful ones and 5 years later the business has no money and is in trouble and “no one knows why”. “We used to have a good business”.

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I was talking to a 30 year veteran consultant the other day and the subject of company rescue came up.

Both of us compared stories of salvaging companies where the cause of decline was: the business went off it’s main product line or service–the one which built the business!

He told me a story of a company which lost millions per year because of a new idea (never successful) which was pushed in on their extremely successful and profitable operation.

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Entrepreneurs like to start things, they like to create deals, they like a challenge. However can be quite destructive when establishing a long-term stable business. These are built on a specialty, efficiency and unfortunately (for some) doing the same things over and over. If you have a successful product or service–try and put your creativity into making improvements but not major changes!

If you really must start a new product/service line, do it as a new company or venture.

Also, many an owner doesn’t know what is their best product or what makes them the most profit and thus.

I recall a client who had an amazing track record in selling particular lines of stock. One of the best in the game, but at some point he decided to also produce ALL of the products he was selling. This was a massive undertaking and took time and money and distracted him from selling and marketing.

The few successful items he did produce and sell at very high profits were stopped or greatly reduced.

Years later he had cashflow problems, sales problems and on top of that a short supply of his successful items as he had been too busy producing other items.

That little experiment cost him millions and millions of dollars and he didn’t have much fun either!

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The last example is my own…

My first business was in commercial cleaning. For the first few years, I pretty much did everything–just cleaning. It was OK but not the thriving business I had in mind.

One day I decided to specialize. I found that people really wanted Thorough Office Cleaning.

I set up the business thereafter to do nothing but that. The marketing was aimed at that, the sales, the quality systems, administration etc.

The business grew by triple in months and kept growing from there until I sold it. It is lots of fun when you do it right and quite painful when done wrong! I have tried both ways!

7 steps to your “Golden Goose”:

  1. Write down why you started your company. What excited you about it (don’t just say money).
  2. What products/services did you deliver? Are you still delivering them now?
  3. Write a list of your products and services now.
  4. Look them over…which really excite you?
  5. Look them over again… which makes you the most profits?
  6. Look them over again…which do your customers want?
  7. Strengthen the things that you love doing, customers want and which make you good money.

If you can get these three factors to meet–you have your golden goose.

Good luck!

Please contact me if you would like any help with this.

If you’d like our monthly newsletter send an email to newsletter@executivesuccess.com.au:

Regards,

Oisin Grogan

Founder

Executive Success Australia

www.executivesuccess.com.au

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