Thursday, 29 January 2009

Achieving success in a global economy


Routine and passivity won't do the trick any more when competition is coming from all directions. We have nowhere to hide in an environment where all barriers are falling. On the other hand, the sky is the limit for anyone in business today.

Each of us can muster the courage to face unpleasant truths when things turn from bad to worse. Achieving success in a global economy requires asking ourselves a few tough questions.
  1. Why am I living precisely in this place? Was that a conscious choice or the result of circumstances? Are there other places where I could be obviously happier or more successful?
  2. Am I paying more taxes than I really have to? Have I looked into alternative corporate structures for my business that could save me taxes legally? Would it be possible to reduce my taxes if I move to another place?
  3. Am I expanding my business internationally? In how many countries? How can I speed up my global expansion? Should I redesign my products in order to be able to reach additional foreign markets?
None of us possesses the perfect answer to these questions. Chinese entrepreneurs are emigrating to the US in order to establish their business here, while American graduates are now getting well-paid jobs in Shanghai almost tax-free.

There is no universally perfect business or location, but asking the right questions over and over is the best way to get 50% closer to perfect. The remaining 50% is just practice.

[Text: http://johnvespasian.blogspot.com]

[Image by Subhash Chandra under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]

Achieving success in a global economy


Routine and passivity won't do the trick any more when competition is coming from all directions. We have nowhere to hide in an environment where all barriers are falling. On the other hand, the sky is the limit for anyone in business today.

Each of us can muster the courage to face unpleasant truths when things turn from bad to worse. Achieving success in a global economy requires asking ourselves a few tough questions.
  1. Why am I living precisely in this place? Was that a conscious choice or the result of circumstances? Are there other places where I could be obviously happier or more successful?
  2. Am I paying more taxes than I really have to? Have I looked into alternative corporate structures for my business that could save me taxes legally? Would it be possible to reduce my taxes if I move to another place?
  3. Am I expanding my business internationally? In how many countries? How can I speed up my global expansion? Should I redesign my products in order to be able to reach additional foreign markets?
None of us possesses the perfect answer to these questions. Chinese entrepreneurs are emigrating to the US in order to establish their business here, while American graduates are now getting well-paid jobs in Shanghai almost tax-free.

There is no universally perfect business or location, but asking the right questions over and over is the best way to get 50% closer to perfect. The remaining 50% is just practice.

[Text: http://johnvespasian.blogspot.com]

[Image by Subhash Chandra under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]