One of the most profitable ways to do business is to do it internationally. Anyway, it is nothing to run to. Unfortunately, today, if you are thinking of doing business abroad, then there are two important factors that you will not ignore.
First, you must consider the current world economic crisis. There are big companies which were previously being doing good business abroad but have since closed or laid off majority of the workers. Nevertheless, this is not a concrete reason to stop your dream.
Secondly, you have to consider the value of the currency that the country you intend to invest in operates in against your own currency. You must ask yourself if the currency you will operate in will be favorable for your operations.
Thirdly, you can not ignore the kind of business you want to engage in. There are businesses which do well regardless of the economic situations. I have written much on investing in the three basic needs. That is, food clothing and shelter. Regardless of economic conditions, people will still eat, buy clothes and live in house. These are just a few examples of what you can comfortably invest in without much worry. Remember that hoteliers are the world’s richest.
Fourthly, the country itself should have a good environment for business establishment and growth. There are countries where the political situation is so unpredictable. Do not invest in such countries unless you have direct links to supply the government.
International investments can be very tricky sometimes but remember that trick business earns more.
EFFECTIVE LEADERSHIP AND ADMINISTRATION
Everyone is a leader in his own ability and capacity. The success behind any kind of organization is effective leadership and administration. However, there are people who are born as leaders but it's important to note that leadership and administration is an art and every art can be learnt. I have met many people who never thought of being leaders but have effectively learnt the art of leadership and emerged as leaders to be admired.
In any kind of leadership, the first area of effective administration is the administration of funds. Be it in business, government departments, church or any other kind of organization, you will have the most effective leadership if you learn to use the funds properly. If any of your employees wants to paralysis your operations and bring down decades your leadership, the first place to target is your finance or/and accounting department. Your employees in this area should therefore be people of integrity and who have internalized the vision of your organization.
The second area that determines how effective you will be in your leadership is managing people. The human resource directly affects the operations of your organization. You must begin by placing every employee in the department where he/she will work best. You therefore begin by identifying where to place your staff. This means that an effective leader is close his or her staff and spends time them. After placing them in their rightful places, you need to monitor their performance. Performance of your staff is closely tied to motivation. Every employee needs to be motivated. This entails different strategies. Know which kind of motivation to use. It is not necessary to promise your staff a reward for good performance. This may bring in unhealthy competition, hatred and lack of cooperation between staff who want to out-do each other. Therefore reward unexpectedly.
Motivation may be as cheap to the organization as recognition, but make sure you recognize a staff in the midst of others. Do not do it in a closed office. It may not serve the purpose. Other strategies may include promotions, gifts, added responsibilities and increase in salary. You must also ensure that your staffs are working as a team. Working together ensures the staffs are focused towards the goals of the organization.
Effective leaders give an ear to every stakeholder of the organization. Know that the whole organization is looking on you to give direction. Begin by listening to every stakeholder then give a direction. Sometimes it's necessary to give directions basing on what you believe is best for the organization regardless of other peoples views. But this should not be always because it does not mean that you are always right. Conflict resolution strategies are important. Know that there will always arise conflicts. The win/win strategy works best for most organizations. Therefore make sure that each of the conflicting parties does not feel offended.
Wednesday, July 15, 2009
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