We know how much life changes rapidly. Though there are systems that
are by nature very traditional and rooted in centuries old wisdom and customs -
like many religious institutions and political systems, in the
business sector, life is always on the fast lane. To arrive at business stability
depends a lot on how we can keep up with these fast changes. But as business
owners, if we update the technology of our business, then we can
be able to cope up with the changes and insure the life of our business
for the next business cycles to come.
The purpose of technology is to provide solutions for clients, other
businesses and institutions, in order for them to be able to operate
their systems. When we constantly update our technology, then we
will be certainly "riding the wave of change" instead of finding ourselves
and our businesses "under the wave of change".
Business stability depends on handling financial risks
Many business owners are often attracted to high risk investments that give
high returns. This is good, but when we have to take into consideration the
stability of our business, this move might be detrimental to our
business. The ideal combination of investment and returns is one wherein
we can combine low risk investment and high returns. This is possible and
there are financial instruments which do indeed combine these two, in order
to help the business owner gain business stability. Although handling
risks are not only in financial investments, it could also be in other areas of
our business. What is important though in handling our risks, is to take on
a low risk move in view of producing stability for the long term life of
our business. We have always known that the
higher the risk, the higher we will also put at risk the stability
of our business. But the lower the risk, if anything
unforeseen happens beyond our control, there will only be
a minimal effect on the stability of our business.
Business stability is rooted in its original
vision
Do you remember what was it that fired your imagination or your desire to
start your business? This vision will keep you on track and not
be swayed by the many influences that can be detrimental to your business
stability. A business vision is usually the "cornerstone" of the business.
It may be intangible but it is significant nonetheless, because that is where
the business derives its life, its impetus, its momentum, its desire, its
direction, and its growth. Business stability therefore depends very much
on how we, as business owners, are very much rooted in that original vision
that called us to be entrepreneurs and to venture out into business. If
we veer away from the original business vision in which our business is
founded, then it is most likely that our business stability will be very
much affected. Therefore, for business stability to really be strong and
very well rooted in ethical business practices, let us keep to our original
business vision.
Business stability depends on how we always
find means, ways, and solutions
Our business will always be beset with problems and difficulties. Therefore,
it is vital that we always find means and ways to cope, and to find good and
right solutions, to the problems and difficulties in the operations of our
business. The moment we procrastinate with one problem or with one difficulty,
then this could snowball the problems into a mountain
of difficulties, maybe even leading to a dilemma. What is important therefore is to
always find means and ways to cope and to solve problems.
In terms of the income and
costs of the business, business stability depends on how much we can earn
more and spend less. Thus, a very important task for the stability of our
businesses is always to find new ways to earn more. Perhaps adding a related
service or product. And we also have to find ways of reducing our business
costs. Perhaps finding a less expensive supplier. Or finding less expensive
fixed costs and reducing what we can reduce with our variable costs.
Business stability depends on us and our
faith
It is inevitable that we may experience something like a "tsunami" in our
life and in our business. In times like this, it takes more than just
business wisdom and experience to come into the picture. Something greater
than business is involved here. And so this is where the area of faith comes
into the picture. It may sound corny to some, but it is true: faith indeed
leads to strong and great business stability. Faith in ourselves, faith in
all of what our business involves, and faith especially in God. In insurance,
there is a term called "acts of God". "Acts of God" are those extraordinary
events - like earthquakes, tsunamis, great floods, and other disasters, which
some insurance companies do not give insurance coverage because it is beyond
the scope of their business. And it is true in the life of every business.
There are realities beyond its reach and its scope. And as always, faith
is the answer. And perhaps faith is really what contributes to business
stability. "In God we trust"
Dennis-Emmanuel Cabrera
April 21, 2005
[revised May 29, 2006]
If you wish to copy contents
and articles from this website,
kindly link it to:
Catholic Internet Mission:
Proclaiming the Gospel Online
Free Contents and Articles for
Republishing Online
http://www.pcentral-online.net
