Has the US economy become "FAT"?

I ask myself this question for various reasons, but as a business owner who has placed so much on the line, I have to wonder how much my company is truly receiving from my employees. Many employees go to work expecting their wages paid on time, and justifiably so, but many eomployees irrespective of their role in the company have taken the attitude that the company serves the purpose of serving them.


I am not condoning abuse by management, however if you think about finding the middle ground with a rational mind, have you considered how an employees work ethic can considerably effect the bottom line of the company? In a sales role, these warriors of the road experience first hand how their efforts not only benefit their own pocket, but the companies bottom line. However as a receptionist, who greets fellow employees, visitors and vendors, how often does the employee or management put a value of the employees impact on the companies bottom line and look at this collectively with all the employees no matter the role. Employees are the greatest assset of a company and therefore the most capital and profits are spent on securing the services of the best people, good employees play a role in maintaining a companies viability and profitability.


I was needing to source new products for some export clients of ours. I had reached out to 5 different potential suppliers to procure product from in order to export and service our international markets. Out of the 5 companies contacted one company returned my email and phone call!


I was totally taken a back by the fact that a willing buyer was making contact with a company to buy large quantities of product and these copmanies did not want the business. There may be other issues that I as an outsider am not aware of facing the various suppliers, but it comes accross as though these companies do not want the business. How much is the inactivity of these sales people affecting the companies bottom line? Why is the sales person not willing to out of courtesy respond?


If these businesses and sales people were acting from a perspective saying, "We have enough" then I would conclude that they have grown "FAT" and slothful. These companies are running out of time, because inevitably they will be too lethargic to serve even the hands that feed them now!

Growth

Have you ever stopped to wonder how a small company goes from a garage to multi national, multi Billion Dollar valuation? In my studying of businesses I am constantly amazed at what specific attributes or actions took place to take the garage business to the world.


I know Sandy Solomon, the founder of Sweet Street, a company that achieved this very feat. I am impressed and complimentary to her and how she has been able to grow this company that was started in a garage to one that produces products for delivery to all over the United States and beyond the borders.


The question though, is whether there was any one thing that brought about the achievement over anything else? Is the classrooms teaching the skills and realities to the students that will assist them build the companies of the future?


I do think that small businesses are facing more and more challenges in order to compete with the mega companies in their industry, however considering this, the small business too has access to technology and market access far greater than before. I have always remembered the worlds of Robert Kiyosaki, "Businesses are there to solve problems for the market!"


I believe that growing a company from the basement or garage to main street with a global footprint is most definitely attainable now and into the future. The growth of a business is moreso dependent on various decisions made culmenating in a tidal wave pushing the company forwards!


What has contibuted to the growth of your company?

Chief Problem Solver

Over all the years that I have worked on creating and building businesses, I have come to see that my role as an entrepreneur is that of the "Chief Problem Solver"!

Whether I am assisting a client solve their problem by selling them the product or service of my business or solving a problem in the logistical chain of providing the service or product to my customer, how successful I my business will be and survive is based on the efficiency and effectiveness that I solve the problems and issues facing it.

I have said for many years that it is not the product, service or technical know how that puts a business in a class of its own, it is the ability of the businesses leadership to quickly deal with the businesses short comings and face the issues in front of it.

If you want your company to grow, their will be many growing pains and challenges, lack of cash flow, payment to suppliers and the supply cycle, employing new staff to facilitate the growth and handle the growth with new customers and suppliers, and these are just to mention a few.

It is very easy to sit in a position of being outside of the circumstances and removed from the emotion charging the relationships and encounters saying what should be done. A great skill of the "Chief Problem Solver" is to take a step back and see the big picture. The BIG picture enables you to evaluate the choices and the consequences of those choices so that you can make choices that direct and guide the company in the direction that you would want.

In a small business you may not have the funds to employee the brightest minds as employees, however with the growth of the modern business environment has birthed the great supply of the smartest minds. Perhaps hiring Solution Providers that are not quite so emotionally attached to the business can assist your business grow and achieve the goals!

What challenges and problems are you and the business facing right now? How many different solutions can you think of?

Let's be business leaders fulfilling the role as "Chief Solution Providers"!

What if your bank has their profits ahead of your interests?

Every business has to make a profit, however I believe that if you were to survey main street, you would find a perception among the various business owners and people on the street that banks and wall street are typically a group of businesses that have selfish motivations to generate profits even at the expense of their clients.

Businesses and entrepreneurs really need to find advisors and consultants that understand and see their role as one that adds value to their customers. Business owners and management need ensure that those companies and individuals assisting them in important decisions and guiding the company into the future, have not only the businesses management in mind, but the employees and their families futures in mind before advising or making decisions.

I used to work with a treasury outsourced company where I worked as a money market and foreign exchange trader. With all importers and exporters needing to buy foreign currencies for the various transactions, we played a pivotal role in helping our clients buy the foreign currency at the most competitive rates.

The company that I worked with tracked and knew where the market stood every second of the day. When the trade and transaction was booked, we knew exactly what the price was for our customer to buy the foreign currency at that exact time. We could buy the currency at a time of the day where the price was more favorable to our client and not to the bank. The bank would have still made the fees and minimum required profit, however their trader was not going to be able to take advantage of our client. The client before having us watch over the banks actions would not know exactly what fees and commissions that they paid to the bank and trader. The trader may have done really well if they timed the transaction right and included the advantage into their commission pot.

I believe that I should "do unto others as I would want them to do unto me!" I have made it part of the commandments of our company, to ensure that we treat our clients and stand up for them in the areas of expertise that we hold. Before I worked as a foreign exchange trader, I had operated an import and export business, doing some large transactions just accepting what the bank and trader offered as though I had no choice in the matter. I don't think that way any more, I have seen the value of having a "big brother" to fight on my behalf. These consultants are rewarded for their actions on your behalf, making them ever more diligent to obtain the most beneficial outcome for you and them combined!

I believe that it is imperative to employee experts and consultants to assist small businesses. Who knows they might save them from bankruptcy and failure. 

Trade Finance

My company has been involved in various trading activities of physical commodities for many years. We have been involved in raw metals and minerals to finished metal extrusions. Fresh fruit to clothing.

The hardest part is to get the transaction closed with the buyer before rolling up the sleeves to put all the logistical parts together to ensure that the product is received in time by the customer or client. Often cash flows and payment requirements in cross border transactions can put the best plans to a halt. Suppliers require guarantees of payment or payment in advance of production or shipping, delaying the supply chains and causing problems with your customers. One of the issues that can happen with the delayed supply chain could have the customer cancelling the PO and leaving your company with all the products.

One of the things that I have enjoyed the most about Trade financing is the various products and systems that can be employed to create a solution to the challenges facing companies. There really is no one approach that works best or one solution for all companies and trades. The approach that we take at AIM Financing is to sit down and consider the customers, suppliers and traders. Ensuring that costs are maintained to make the transaction beneficial to all parties.

When stakes are high, having the right financing solution is a valuable asset. Increasing the complexity of international and cross border trades, financing acts as a tool to protect your company from poor delivery of suppliers or delays.

Politician or Business person?

In the US we started the long road of voting for the next president of the country today in the State of Iowa. Although many people wonder if their vote really counts, we live in a part of the world where we have the opportunity to play a role in the political landscape. It is up to us to play a role and have our voices heard, I can assure you that there are many people in this world that have no say or opportunity to voice their challenges. Just need to look at all the refugees fleeing Africa and the Middle East regions to see that still today, some peoples lives and liberties are threatened.

Leading the polls at present on the two sides is the long serving politician who has fulfilled various roles in governing this country. We also have the business man, who is not ashamed that he represents the 1%, assuming that he can understand and create a solution for the other 99% of people in the country.

It got me thinking to how so many people have said that we need seasoned business people running this country like a business. This is based on the perspective that businesses operate according to rules and follow tight fiscal responsibility to make profit. I do not disagree that we need to have responsible people in the office of government, and ultimately this must have been the attitude and thoughts by wise people of years gone by.

We need to vote and place people in power that will not be corrupted by the power or opportunity, and my concern is that whether the person is a veteran public official or seasoned wheeler and dealer, we stand at the mercy that these people act and perform their tasks based on the good of the country and all the citizens.

I am less convinced that a person with years of business profits will be successful, especially when you consider that for these years they have been acting for their own personal benefit. What would stop  them from seizing the opportunity to hold an office to add to their own bank accounts? I am too not convinced that we are better off with the veteran politician, as they know the ways to benefit from laws and loopholes better than those from the business world, after all they probably were the ones writing the laws that created their opportunities.

In the same way that we need to selectively choose who we do business based on their character, expertise and passion for the BIG picture, we need to consider our political partner that we endorse to  hold the office that wields the greatest temptation!