Running your Business like Monopoly Part III

So far in the Monopoly Series we've discussed Money and property...our next topic is chance!
I'm sure that you remember those orange cards. Chance was always the card that caused a bit of apprehension. On the back of some of those cards players received bonuses and rewards but on some of them they received unexpected bills, assessments and disappointments. In business it is wise to anticipate chance.
We don't get it delivered on a cute orange card but it could come in the form of a new client, extra piece of business, a tax break. Those are the chance cards that we long for. The question is when we are approached with these unexpected announcements do we handle them to the best of our ability?
I always share with those I train that being prepared for the unexpected is key. Do you always have business cards on you? Do you always have a writing utensil? Do you look and act professional and credible at all times? Chance is waiting for you-so we need to be ready for surprise opportunities to take advantage of it. Okay now let's talk about the not so great chance cards. You know the ones that might be the bill, assessment or the bad news. How do you prepare for the bad stuff in business? Do you have back-up plans? Do you have a strong sense of protection in place in case you are met with a bad business deal? Think about it chance is a part of life. The best businesses have been hit with many surprises both good and bad-let's figure out how to handle them before they shock us. Write down what the worst case scenario is that could happen to you and your professional goals. After you jot these things down-come up with a strategy and a emergency plan to help. A handbook on policies is not a bad idea to add to your 2011 goals even if your business is very small. I hope this helps.
The next meeting of the Black Women in Business Brainstorm is January 22, 2010. Save your level today! The BWBB is open to any and everyone who believes in positive networking and growth. Hope to see you soon!

Running Your Business Like Monopoly...

Recently I presented at a meeting comparing our business and professional goals to the game of Monopoly. In Monopoly you are asked to negotiate, collect money, pay bills, etc. Businesses require the same needs. When you start the game of Monopoly you are given $1500.
I posed the question to the group if you had extra money for professional endeavors what would you do with it?
If we think about it we actually have an extra lump sum of revenue in potential barters, partnerships and opportunities if we take some time to truly look deeper at our networks-it is there. Who could you help out in your circle with advice and skill that could save or earn them additional capitol? The best question is who is taking away valuable time from your schedule that you could use to service your clients?
A little bit of homework for you:
1.) Write down a goal that you would like to accomplish with your current revenue
2.) Journal extra revenue streams that can allow you to accomplish some of your goals that have been outstanding on your list
3.) Have you been using your money in the wisest way? Jot down how you will rectify this if you have not and pat yourself on the back if you have.
4.) Are you using your time wisely? Time is money.
Our next BWBB meeting is January 22nd but go ahead and reserve your level today. We are a group of professionals that believe in the power of promoting, connecting and enhancing our potential. The Black Women in Business Brainstorm is open to any and everyone who wants to grow and network in a positive environment.