Business and Money Tips

I am always amazed that even in 2014, there are some people who still manage people like in the past. The following are the Top 5 Most Common Myths and Truths of People Management: Myth 1: You need money to motivate people Truth: Accomplishment itself is a bigger motivator , and if you use money alone, you’ll get greedy people! Look at those people cheat at mega banks and you’ll know what I’m talking about. Myth 2: You must push people to achieve Your Company's Goals  Truth: People are pushed by their own commitment than your goals. If their commitment is aligned with your goals, your goal setting will work. Otherwise, it will simply not work. Myth 3: People need to be managed and controlled  Truth: You only can manage space, time and resources. You don’t manage people, you lead people. Myth 4: Increasing sales and profits are clear goals that everyone can relate to Truth: People relate more to something bigger that matters and make a difference , like being able t...

How people think: if you have been having 3 boys in a row, you will think that your chance of a girl the next round will be high.  Truth is that the gender of your next child has nothing to do with the gender of the previous child.  This is because each sex has an equal probability independent of the last one .  The failure to recognize this is called ' Gambler's Fallacy ', which reflects how people make mistake in their decisions by mistaking that the past will predict the future . Anyone that try to foretell your fortune for 2014 will end up being wrong most of the time, simply because they base their prediction on the past. We all know the failures of companies like HTC, Nokia and Blackberry: they produce their products based on past demand and end up with excessive stocks. The truth is that everything that happen today is made up of many factors happening not just now, but in the past .   There is no one single factor that we can attribute to any success ...

Everyone wants to get more business, but with the economy still slow now, what can you do to pull ahead? If you try to pull business away from your competitors, you have to be prepared for a price war.  Another way is to poach the top salesperson or sales manager from your competitors with high salary.  This is fast and furious, but it too starts a talent war. How about going all out with aggressive marketing to get new prospects?  This again puts you head on with your peers, who can always retaliate easily with even more marketing budget.  The issue is how long you can last.   If the above does not work, what can you do?  We believe that the solution lies in Successful Selling Strategies. This means that you must do things strategically and systematically.  There are total 7 Successful Selling Strategies: Service to Others as the Highest Strategy .  This is because people don't buy goods and services but good feelings and solutions to t...