Michael Akbar - Business Advisor


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Help your business thrive in hard times

Now in the previous post I talked about the basic principle that should make every business owner very excited about economic hard times.  Realizing that this is an opportunity for us, if we apply the right tools, then how do we go about this?  What are some of those tools and strategies?


My good friend Larry will be talking about a number of measures in the area of accounting and financial management that are absolute must.  Most of these will not cost you anything extra.  In fact they will help you save and improve the cash flow.  What Larry covers are what I call universal laws.  You can apply them to every business and it will help.


I want to speak to a different area.   The Institute for Independent Business (IIB) of which I am an Accredited Executive Associate, is an International non-profit research, education, and accreditation organization.  IIB has been studying small business owners and their businesses since 1984.  Founders of CMT, Coaching, Mentoring, and Training International, who also happen to be fellow Executive Associates of IIB have been studying this data and have discovered an interesting result:


A small business tends to take the personality of the owner.  To really understand the meaning and significance of this observation I must first talk to you about what I mean by personality. 


Most of you are familiar with a variety of personality tests that are available in the marketplace.  The proprietary product used at CMT is called DISCoverY Behavioral.  This tool, not unlike many other products in the marketplace classifies one’s personality in terms of 4 parameters; D, I , S, and C. It is important to recognize that we all have all these characteristics, just like the way every color is made of Red, Green, and Blue (RGB). 


And just like colors where one color might have more of Red, then, Blue, and then Green, for example, each of us also have our own unique combination of D, I, S, and C.  In each of us one of these parameters is more dominant than the other, so for example I may be primarily D, then C, then I, and then S.  You get the idea.  This unique order and combination of these parameters directly dictate my behavior, in relation to other people, my preferred style of work, etc. This makes every one of us unique and while there is no good or bad about these parameters and profiles, it is true that people who excel in certain professions do have similarity in their profiles. 


Now how all of this relate to one’s business?



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