Lesson More Important than Solution

See what the US Government has done in this financial or credit crisis - from saving Bear Sterns to saving General Motors and Citigroup - it is all about solutions. To-date, over US$1.5 tillion has pumped in in US, and a similar amount is done in Europe. Yet with so much money pumped in, and interest rates at record low of almost zero percent, it is easier to go bankrupt than to get a loan from the bank.


We live in society that likes to have immediate solution to everything. Our first reaction in a time of crisis is to do something - anything - to make it go away.


Yet it is this very intensity and urgency to solve our problems that causes us to overlook the most important thing in any problem - look for permanent and lasting solutions.


Common sense tells us that every action has its reward and punishment. If you want to avoid an recurrence of a behavior (e.g. lax credit and speculation), you must melt out punishment. Yet the US Government not only not punishing those who committed sins, but is helping them by bailing them out. The US is sending the message that 'there is no punishment for mistakes'.


We must keep in mind that before we can resolve any crisis or problem, we must learn from our experience so that we don't repeat it again. We must keep in mind that the lesson is more important than the solution.


*** If we focus on immediate solution, we will not learn the lesson and likely we will repeat the same problem some time in future.


What do we do now? I am no expert in this area, as even until today, I still cannot understand how come all the big banks in Singapore can afford all the most expensive office rental in town when I see that their business is not so profitable.


The above is my humble opinion, and as this article also appears in my blog http://www.andythecoach.blogspot.com/, you are most welcome to post your comments. Because the more we share, the more we get!



AndyTheCoach

Singapore, http://www.asiacoachingtraining.com/ and www.youtube.com/AndyNgCoach

Leadership Made Simple

How can I be a leader? How can I be a better leader than I am today?

These are the sort of questions I'm typically asked by people inside and outside work.

As we know, leadership begins with determining what you care about, and what you care deeply about.

Many call this passion, some call this 'calling', others just say it is 'sense of duty'. Regardless of how you call it, you take your passion and make it happen.

Make it happen means you develop people. People includes yourself and others.

Leadership development is an inside-out development, it starts with yourself first and then you must develop others.

If you only develop yourself without developing others you are called a 'Selfish Leader'. But if you only develop others without developing yourself, you are called a 'Foolish Leader'.

The next question, how do we know we have develop others and ourselves? How do we measure success?

Many say that success is journey, it is NOT a destination. And it is the journey that makes us happy, not the destination. So success is happiness.

If a person worked hard and now get the 'Entrepreneur of the Year Award', is he successful now? How about a person that struggles day-in day-out to pay his bills? Is this person a failure now? Or is he a success now?

If we know that success is a journey, then the person that gets the award is simply not successful now, he is simply getting RECOGNITION OF SUCCESS. So the person that struggles is actually successful now, as he is on his journey to get recognition of success. However, if he gives up half-way, he is a failure. Sounds logical, right?

How to be a Better Leader and Manager? If it possible to build a high performance leadership and management culture in your company? Share with me your comments... AndyTheCoach www.asiacoachingtraining.com

The Greatest Business Secret in the World

THE GREATEST BUSINESS SECRET IN THE WORLD

Have you ever notice how some organisations prosper with new and repeat business year after year, while others just can't seem to generate enough new or repeat business? There is one thing that is common to all successful businesses...REWARD...

We all know that every behavior has its consequences. Future behaviour depends largely on the consequences of past and present behavior. If the consequences are rewarding, the odds are great that the behavior will be repeated. The reverse is also very true.

To put it simply, you get more of the behavior you reward.

What does this have to do with business success? Read on:

1. Reward your Customer with Outstanding or Excellent Service

When your customer has a great experience with you in the past, he is being rewarded by you. The more he feels rewarded, the more he will come back. It is a known fact that it costs 6 times more to bring in a new customer than to service existing customers. In short, great customer service will bring you great business, as you get repeat customers and new customers will also be attracted by the so many repeat customers.

2. Reward for Employee

Typically, a person hired to the job is given little or no incentive to go the extra mile for the customer. Over time, the employee will develop an indifferent attitude towards customers as he will be too busy doing other things, like getting new customers, marketing, etc.

To the customer, the employee is THE company. If the employee is not rewarded for giving excellent service, he will not do it. Research shows that as much as 68% of customers leave because of poor customer service, which is simply PERCEIVED INDIFFERENCE.. you just don't care!

3. Reward for Customer

What reward have you given to your customers today? Are they given the same benefits as new customers, or worse, given less than new customers?

Whatever behavior you want to attract, put in the right rewards and the right behavior will follow.

If you want to know more about how you can reward your customers and get them to come back again and again, submit your question below and we'll answer them free-of-charge within 3 days. Limit to one question per person.

Tip: Ask question in the form of What, Why, Where, Who, How and When and you'd have covered all aspects!

by AndyTheCoach wwww.asiacoachingtraining.com

Wisdom from 2,500 Years Ago - Tao Zhu Gong

Tao Zhu Gong's was previously known as Fan Li.

Fan Li (范蠡) was an advisor in the state of Yue in the Spring and Autumn Period. (This is roughly present day Shanghai). He had been to the state of Wu as hostage with King Goujian of Yue. Three years later they came back and he helped Goujian to carry on a reform. At last Yue was able to defeat the state of Wu.

After the victory he resigned and renamed himself Tao Zhu Gong (Chinese: 陶朱公; pinyin: Táo Zhūgōng; literally "Lord Tao Zhu"). He became a successful businessman in his later years and was famous as a rich person. In fact, many said that his wealth could even be more than Solomon or present-day Bill Gates.

He managed a pharmacy selling traditional Chinese medicine. He also deal in many businesses including banking, trading, garments and education.

Tao wrote a book known in English as "Golden Rules of Business Success" (simplified Chinese: 经商宝典; literally "Manage Business Jade Advice"). This book remains popular today as its advice is sometimes considered timeless. It includes Twelve Business Principles and Twelve Business Pitfalls describing the art of successful business management.

The 12 Golden Rules are as follows:

1. Ability to know people's character.
2. Ability to handle people.
3. Ability to stay focused on the business.
4. Ability to be organized .
5. Ability to be adaptable.
6. Ability to control credit.
7. Ability to use and deploy people.
8. Ability to articulate and market.
9. Ability to excel in purchasing.
10.Ability to analyze market opportunities and threats.
11.Ability to lead by example.
12.Ability to have business foresight.

The Twelve Golden Safeguards are:

1. Don't be stingy.
2. Don't be wishy-washy.
3. Don't be ostentatious.
4. Don't be dishonest.
5. Don't be slow in debt collection.
6. Don't slash prices arbitrarily.
7. Don't give in to herd instinct.
8. Don't work against the business cycle.
9. Don't be a stick-in-the-mud.
10.Don't overbuy on credit.
11.Don't under-save (keep reserve funds strong).
12.Don't blindly endorse a product.

By AndyTheCoach

Peaceful Heart Warrior Spirit

Henry David Thoreau wrote, "Some men go fishing all their lives without realizing that it is not the fish they are after".

Everyday millions of people still struggle daily for their survival. Those of us fortunate enough to live in more comfortable circumstances have the time and energy to strive for higher aspirations - for fulfillment and self-actualization.

That day I met an old army-mate, and we had a good chat. Retrenched at the age of 48, he is now doing temp jobs with low pay. Disillusioned with outer success, he has now turned inward - detachment from money, possessions and, status. He simplified his live, and look for answers within. But he confessed that such inward-focused behavior is difficult- as he has to pay mortgage, transport and put food on the table.

So I told him that such is life, and he has to continue to fight. Fight with who? Fight with yourself! Fight with your own aspirations and the expectations of others. Fight with your own inner urges to fight with others!

What tool to fight? Love! Love is the most powerful tool, it cuts all edges. I coached him that instead of trying to find love in what he is doing, why not love what he is doing now? "I'll try", he said. He reiterated to me that although he puts in long hours, the results are disappointing.

I told him that a warrior does not care about the outcome. He only cares if he has 'done his best'. There is no praise, no blame and no need to explain. The bucks stops here. Just do your best and trust that the best will come. Sooner or later.

How shall we live? Live the life of the Way of the Peaceful Warrior! Not live the way to the peaceful warrior, but the life of the peaceful warrior. Which means having a peaceful heart and a warrior spirit...