A Quote by Reid Hoffman
One of the really key things to look at in terms of crafting strategy when you're in an economic crises is how do you maximize essentially your liquidity position? Your ability to both take kind of profits and revenues and business and then convert that into a stronger lead. And so those companies that can do that can actually, you know, get a march on their competitors.
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Times of economic crises can change what the competitive landscape looks like, because when, for example, you have boom times, capital is easy to come by, growth is easy, sometimes what you focus on is, you know, how to accelerate in the boom. During economic crises, the question is, the companies that come out of, you know, that are sailing through that with the best liquidity, both assets on the balance sheet, making money, ability to grow their businesses, get a disproportionate competitive advantage.
Understand this - as a new company, if you don't know how to get interested prospects into your company, then you don't have a company. At the same time, if you, as a owner, have to drive every lead into your business, then you need a real lead generation strategy.
Well, well-run companies always have a focus on growth and the two lines, which includes profit. The key thing during, I think, tough times, is to make sure that you've covered the basis for when something, you know, essentially things taking longer, bad luck, adversity, other kinds of circumstances may occur. Make sure that you can monitor to win, it's potentially, you know, something is going to go wrong, monitor early enough, and then take appropriate action to essentially counteract that or shift your strategy or plan, even if in fact something is not working out as well as it is.
I wish to be focused on kind of the business stuff I'm doing, how do I contribute to our economic progress, how do I help create a future for American industry, American middle class, these kind of things. Those things actually really matter to me.
Some people would argue the other side: that the business of business is business, and companies should only be focused on profits. But in today's world, I don't think corporations can only be focused on profits, because they are inextricably linked with the communities that they serve. I do not believe you can be a leader in your industry without being a leader in your community. It's a fundamental shift in how you think about business.
If you don't have ample liquidity, and it's not durable, in times of stress, as you're looking for liquidity, you're forced to sell assets at declining prices, which then eats into your capital position, so it becomes this very, very negative cycle. There's no question that liquidity is sacrosanct.
If you become so frightened of realities that are not your own, if you take upon yourselves tragedies that do not exist in your reality, in your moment, then you weaken your position and weaken the position, of those you think you are helping. You look about you and you see only hopelessness and helplessness. You organize your reality according to the tragedies of the newspapers!
1. It ain't as bad as you think. It will look better in the morning.
2. Get mad, then get over it.
3. Avoid having your ego so close to your position that when your position falls, your ego goes with it.
4. It can be done!
5. Be careful what you choose. You may get it.
6. Don't let adverse facts stand in the way of a good decision.
7. You can't make someone else's choices. You shouldn't let someone else make yours.
8. Check small things.
9. Share credit.
10. Remain calm. Be kind.
When thinking about how to deploy kind of professional and social networking into your business, it's really not a question of if, it's a question of when. And the reason is, just think about the fact that those businesses that adopt new technologies to operate efficiently and use them to get a competitive edge are the businesses that in fact, you know, it becomes one more competitive advantage. Whether it's a fax machine or a mobile phone or a new way of doing financing or any of these things, you know, these are key things to do.
Get that right, then- if you get the quality right, then the marketability or whatever; your ability to sell videos or your ability to earn money or whatever, will follow naturally. But try to be creatively lead rather than market lead. And that's important to me.
Managing risk is a key variable, frankly, all aspects of life, business is just one of them, and one of the things that most people do in terms of managing risk, that's actually bad thinking, is they think they can manage risk to zero. Everything has some risk to it. You know, you drive your car down the street, a drunk driver may hit you. So what you're doing is you're actually trying to get to an acceptable level of risk.
You have to connect with your market and your employees. First, understand that what your market says is fact and what you say is opinion. Then, take the time to create a good connection with your employees. Without those two key connections, your business will be stuck in mediocrity forever.
What business strategy is all about-what distinguishes it from all other kinds of business planning-is, in a word, competitive advantage. Without competitors there would be no need for strategy, for the sole purpose of strategic planning is to enable the company to gain, as efficiently as possible, a sustainable edge over its competitors.
Our MPs will take decisions on how they're voting on a day-to-day basis. But I'm the leader of the party, and in terms of our overall strategy and how we vote on key issues, then ultimately, those decisions will be mine.
Many liberals argue that big U.S. companies don't really pay the top corporate rate. While this is sometimes true, it's mainly because, during recessions, companies lose money, and get a tax loss carryforward that temporarily reduces their effective rate. But during economic expansions, when profits rise, companies then do pay the top rate.
People are going to think and take things how they're going to take it, and I have no control over that, so it's kind of like biding time until you get your feedback. So, it's like, once the public can consume what you're putting out there, then you know. Then you know hit, miss, in between.
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