Getting to the Truth

Getting to the Truth

Many entrepreneurs are too easily put off by the ‘half answer’.

Q: Why don’t my products sell?

A: No one asks for them

Well that is an answer but is it a full answer. If we ask why again:

Q: Why does no one ask for them?

We could get any number of answers:

  • A1: Because we don’t have them on display
  • A2: Because they’re cheaper next door
  • A3: Because the market has moved on and there’s no call for them now.

Each asks for a different reaction from the business owner, each asks for another go at asking why.

Q: Why (how) are they cheaper next door?

  • A1; Because they run them as ‘loss leaders’
  • A2: Because our margins (overheads) are too high
  • A3: Because we source them too expensively.

We do have to be careful with A3 which has transferred responsibility from the sales force to the buyers, but they may be right, so we have to ask why once again.

Q: Why do we source them too expensively?

  • A1: Because our volumes are so low
  • A2: Because we source them from expensive suppliers
  • A3: Because ours have a higher specification than theirs.

A1 here calls to mind the old Harry Belafonte song ‘There’s a hole in my bucket’ where the first and last lines – separated by six or seven verses are ‘There’s a hole in my bucket’.

It also points another truism about the question ‘why’. When Harry Cohen started Tesco his motto was ‘pile em high: sell em cheap’. Tesco is one of the world’s most successful retailers but they don’t use this business model now and that goes to show that you not only have to ask ‘why’ many times in one session, you need to be having regular sessions.

On the subject of …

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Globalization: The Good, the Bad, and the Uncontrollable

Globalization: The Good, the Bad, and the UncontrollableGlobalization: The Good, the Bad, and the Uncontrollable

When the national economy continues to grow and begin to intertwine, they create a global system of international economics known as globalization. Because of its modern and complex nature, this term is better described than defined, but for the sake of argument, the United Nations Development Program defines it as: “The growth of human interdependence in the world. This is a process that integrates not only the economy but culture, technology, and governance. People everywhere are connected by the influence of events in the corners of the world. ” Financial institutions continue to gain influence from multi-national assets which causes strong opposition in fear of global monopoly, while the leading countries involved slowly begin to develop generally accepted codes of conduct and reporting standards to mediate these growing concerns.

The idea of ​​international trade is not a new topic;

Even back hundreds of years to the East India Trading Company which links trade between much of Europe and the East Indies. The problems that emerged at that time were very similar to what we are facing today, where two rival companies joined the esteemed East India Company (HEIC) to obtain a monopoly on the trade industry, often using military force and functioning as a government body. After a brief pause in international trade in the early 1900s, due to World War I & II, more advanced countries began to develop at an unimaginable rate to third world countries that lacked the infrastructure, capital, and reporting standards to be able to compete in this world market.

Economic Framework

Proponents of globalization tend to become macroeconomic experts when they see greater economic benefits and tend to be impersonal in their judgments. The economic framework of our own United States, which was founded on small businesses, shows doubts because they do not have …

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