WHY YOU MUST LEARN TO SPEAK THE LANGUAGE OF BUSINESS.

DO YOU SPEAK THE LANGUAGE OF BUSINESS?

Can you speak the language of business?

In basic business classes, most students have little or no knowledge of business. The first lessons I must teach them are basic business terms. If they do not understand the basics, they will never succeed.

 This is called jargon. Jargon is language specific to an industry. For example accountants will speak of depretiation.Many outside accounting will have no understanding of this term. However all accountants will.

Can you speak the jargon of business? If you expect to go very far with your career in business, you must.

Test yourself. Could you explain the following terminology?

·         Entrepreneur.

·         Goods.

·         Service.

·         Product.

·         Business.

·         Risk.

·         Loss.

·         Profit.

·         Revenue.

How did you do?

I have a homework assignment for you. research these words in  google.Determine what you know and did not know ?

Write them down. Study and learn them. Begin to use them daily. Master them, in time you will. Before you know it, you will start to sound like a businessperson.

HOW TO MAKE GOOD BUSINESS DECISIONS

In the last lesson, we learned there are differences between making decisions and solving problems. Problems deal with everyday situations. Problems can be solved with brainstorming. Decision-making is more formal. More envolved.The decisions you make for your small business will have greater impact.

When you make a decision, you are choosing between two or more alternatives. You must be logical, and think strategically.

Stratigic thinking is concerned with how the decisions you make will affect your small business goals, policies and your organization. Your decisions must be made within the confines of your resources or the resources you will need.

As a small business manager you must be able to tell the difference between problem solving and strategic thinking. By reading and studying these lessons, you will begin to better understand business and develop critical thinking skills.

In the next lesson, you will learn the seven steps to better decision making.

Remember to become an effective small business manger you must read, study, learn and apply .Always be a life long learner.

HOW TO SOLVE BUSINESS PROBLEMS.

DO YOU KNOW HOW TO SOLVE BUSINESS PROBLEMS ?

 

To carry out  a successful  home business  you must be able to solve problems  and make logical decisions. Do you understand the difference between solving problems and making decisions?

Problem solving requires quick action to solve day-to-day problems. Decision-making is more formal, more evolved and requires critical skills. Decisions will have a greater impact on your home based business.

You will make bad decisions. It is the nature of the beast. The good news, however, you can learn to make reliable decisions. You are not born with the ability to make good business decisions. Significantly, it is a learning process.

The first method you should learn and the easiest is BRAINSTORMING. Get together with others you respect. As quickly as you can, share all the suggested soulutions.Important, do not disregard any ideas. Give all your ideas consideration. Trust me before your session is over your problem will be solved. Try it. It works.

Next, you will learn the required steps to improve your decision-making. Good problem solving and decision making skills will make you a better small business manager.