Friday, 10 January 2014

b.The Balance of Business Power

The last part is here:   Strategy - Business Methods 

Every business has various power circles. Those that carry money has power. Those that carry the technology has power. Those that carry the distribution channels has power. There is therefore a need to balance these powers. Every power centre is always suspicious of other powers' intentions. So there is always a need to have open conversations. As long as the power circle is happy that their power is not undermined or being eroded by nearby powers. They will remain loyal. If ever possible, rotate their roles among each other. That way, they wouldn't be able to grow absolute power within their power circle.

Once these power circles are feeling lazy, give them new problem sets to solve. Occupy their minds. A wandering mind is dangerous to the business. There are always challenging problem sets in building product quality into the business. Give them those.

Learn from Liu bang, you must be able to absorb all kind of talents and resources. They will follow your steps if you treat them genuinely true. Don't at any one time hoodwink them. They will abandon you big time. After you have built your business empire. Learn to share it with them. Be absolutely fair. They will respect you.

Many guys after their heady years would like to slow down and see the world in a slower pace. They would be your most loyal partners.

With a thriving business, there is always food on the table.

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