Good Going 24

Customers are the source of all cash flow. Organic growth depends on developing relationships with new and existing customers. Customers will be shopping around for the best deals. You do not necessarily have to cut list prices, but you may need to offer more temporary price promotions, reduce thresholds for quantity discounts, extend credit to long-standing customers, and price smaller pack sizes more aggressively.

American consumers enter this economic downturn as the most indebted people on earth. The materialistic frenzy of the last two decades has left the American consumer saddled with $2.6 trillion of credit card and auto loan debt. American ingenuity and the desire to succeed will work out the products, and there are thousands to choose from. The jobs from the traders and marketers and local government alone will create a small new US economy in itself. American factories, distribution systems, etc were forced to shut down or alter usual plans. Until factories have some form of guarantee or see a sign of recovery, they are not going to open anytime soon.

Job prospects will be best for those with graduate degrees in economics. Job seekers were scammed in 2 ways, first by being asked to provide bank and credit card information as a condition of employment, and second by being asked to wire or transfer funds overseas as part of their job. Many of the victims (the job seekers who wired the monies) were not only defrauded of their own funds, but they were arrested and charged for illegal transfers and wire fraud. Jobs continued to shift from full-time to part-time positions, further dampening hours worked. Most of the drop in full-time jobs was among youths.

Public sector banks now have more customers knocking on their doors for auto loans than private banks, which were leading the race earlier. The reason: public sector banks have started sanctioning auto loans at the same speed that private banks used to two to three days and are offering lower interest rates as well. Public Venture Capital brings together information and resources on programs that make funds available to technology entrepreneurs and innovative firms on a competitve basis.

China’s expanding market has created tremendous opportunities for the global giants, especially in capital-intensive and high-tech sectors. These giants have made a huge difference in connecting China to the global markets. China made its contribution to financial and economic stability in Asia and the world at large. We will follow the same approach of responsibility to the RMB exchange rate issue this time. China’s economic growth is one of broad-based, hence growth rate is important. Based on past experience, the economy has to grow at least 8%; otherwise enterprises or the job market would have problems.

Success home business requires a thorough understanding of the product and users’ needs. It is not a matter of adding trifling details – the ‘lipstick on the gorilla’ to use the arresting image of the renowned German designer Dieter Rams. Successful entrepreneurs will be those who have a clear ambition to build a business rather than buy themselves a job. They will be able to match technical skills and reputation with business building skills.

Economic statistics regularly dominate the daily news reports. These statistics provide information about economic and financial trends. Economic downturns are hard for everyone, at both work and at home. Week after week there are requests for managers to further reduce budgets, lay off more people and cut projects that were previously classified as necessary to sustain normal business operations.

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