Thought for today: Business people sometimes use imperfect information when making decisions. There are no guarantees of outcomes, only ways to lower risks and maximize outcomes. We may get professional advice for the big-ticket items, but the decisions, ultimately, are ours. BDA Tool 12 “We are willing to be in charge and responsible for our business. Professionals such as accountants, […]
Continue reading →Thought for today: For business owners, decisions are often complicated. New situations seem to bombard us, forcing us to think on our feet. With so much activity in our days, we can feel compelled to make spot decisions on difficult situations. That’s why BDA suggests that we bookend – share on the phone or in person before and after serious […]
Continue reading →Thought for today: Those of us who are self-employed are sometimes obsessed with problem customers. We neglect preferable customers because we are fixing insignificant issues with the difficult ones. We need a healthy balance. BDA Tool 10 “We detach from difficult personalities and poor paying clients and put principles before personalities.” A member shares: “Letting go is hard for a […]
Continue reading →Thought for today: Market forces can breed competition. Fair competition is healthy. It usually means that the prize we seek is worthwhile, that others appreciate the same goal, and that we are on the right track. Without competition, innovation would stagnate. A business owner once shared at a meeting: “I worried all the time about the competition. What […]
Continue reading →Thought for today: Many of us in business for ourselves have used verbal or handshake agreements, only to find out later that the other person had a totally different idea of what we meant. Without a signed document, we left too much room for misinterpretation. Other times we let the other person write our agreements for us. This left […]
Continue reading →Thought for today: When we are aware of bill due dates, we are in a much safer place as a business owner. We can pay our bills promptly, affirming good faith with our vendors, and reinforcing the concept that there is plenty of money for everyone. When we invoice our clients promptly we are claiming our […]
Continue reading →Thought for today: In business, there are so many competing interests in the course of a day. It takes vigilance to keep up clarity about profit margins. Business Debtors Anonymous has a tool for that… BDA Tool 6 We maintain clarity about the overhead and profit margins of every product or service we sell. Members […]
Continue reading →Thought for today: Business Debtors Anonymous is a part of Debtors Anonymous. Business owners, or those who wish to open their own businesses, are welcome to join. The habits of debting, under earning and over spending can appear in businesses as easily as they do in people. Business owners need to keep vigilant, and guard against frivolous expenditures. […]
Continue reading →Thought for today: Members of DA who own businesses often find help from attending Business Debtors Anonymous, a distinct part of DA where they apply tools specifically designed to help them run a business. BDA Tool #1: “We keep separate professional and personal financial records and bank accounts. Members heard at meetings: “I let my […]
Continue reading →Thought for today: “Why do we stay anonymous in DA? After all, doesn’t it make life easier if we shared publicly what our program offers? Why hide it? What is this – a ‘secret society’?” These questions are natural for anyone outside of the fellowship to ask, and need answering. Old timers to DA will […]
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