BAGS TO RICHES (7 SUCCESS SECRETS FOR WOMEN IN BUSINESS)

BAGS TO RICHES (7 SUCCESS SECRETS FOR WOMEN IN BUSINESS) By Linda Hollander, the Wealthy Bag Lady, Celestial Arts, 2003, pp 244, $16.95, ISBN 1-58761-148-1 Reviewed by  Vijai K Sharma By and large, everyone wants to be wealthy through inheritance, earnings of business or service or some other means. Certainly business is one of the possible ways for this purpose, but all businesses are not successful. Therefore, we should study some of the successful businesses or owners of such businesses who have become wealthy and learn some finer points from them, for incorporating in our organization, for obtaining success in our endeavours.  Author’s twenty years of experience in transforming from a person in debt, to one running a business and also a business consultancy successfully, is shared through this book.  The book has five parts and a total of 18 Chapters, and given in between are 7 success secrets. Dedication, acknowledgements, contents, guide to side bars, introduction, author’s note, references, resources, index, about the book, about the author and her photo, praise from seven authors and columnists, quotations and small stories from business have been given at appropriate places.  Introduction narrates about difficulties faced in the initial stages, author’s passion for painting rather than business, and her family being in debt, her initial job as a sales woman, her friendship with another woman and their jointly starting work together.  Part one begins with success secret no. 1 “You‘ve already got what it takes”. All women have the quality of sixth sense or intuition for succeeding as entrepreneur. Chapter 1 starts with a quiz for determining entrepreneurial profile. Women have to overcome road blocks like fear, lack of knowledge, others saying no to their proposals, problems of personality etc. As per Chapter 2, mind power, positive attitude, dreaming big, setting mission, goals, visions, self-confidence and identifying opportunities are necessary, but determination is the most important factor.  Chapter 3 states that, by birth, women are interested in net working, making relationships and making can-do-it teams. Team spirit, blessing of a guiding mentor and influential people, help of professionals, small business associations and organizations are helpful in their obtaining success. Part two begins with success secret no. 2 “Your business is a lifetime self-improvement course”. The women are willing to learn at every step, and to make mid-course corrections. According to Chapter 4, a large number of ideas for business are available in hobby, lifestyle, growth, service, retail, wholesale, manufacturing etc. We should try for the time tested options and carry out research for future.   Chapter 5 advises to proceed step by step e.g. starting as a separate unit, opening its bank account, registering its web site, selecting a catchy name of the enterprise and registering it, after confirming its availability for adoption. Its legal structure should be decided, a user friendly bank selected and a detailed project report prepared. Chapter 6 focuses on efficient running of the business through systems and equipments, mail system, computer system, managing time by proper organizing, making to-do lists,   sub-contracting, taking risks but keeping adequate protection by insurance policies, good customer relations and protecting our ideas etc. Chapter 7 discusses about our personal image, place of our business, friendly atmosphere, marketing brochures, gifts and promotional items.  Chapter 8 discusses about the timing of increasing the staff strength and deciding appropriately about removing staff as per performance. We should first assess our needs and resources carefully, examine budget availability and think of alternatives to full time employees. We must recruit the best possible, with clear expectations and provide a good working environment, respect, required benefits and adequate praise with constructive criticism. The success secret no. 3 is “A woman’s yardstick is different than a man’s”. For women, success is a mixture of money, fulfillment, freedom, family life, creativity and popularity.   Part three starts with success secret no. 4, stating “Wealth only corrupts the corruptible.” We should earn ethically and create wealth. Chapter 9 discusses the accounting methods, book-keeping, paying tax in time, cost cutting, maintaining strong relations with vendors and insisting on cash transactions. As per Chapter 10 women can get finance for the enterprise from personal finance, loans from family, friends, lenders, investors, suppliers, equity financing, venture capital, bank loans and Government loans.  As per Chapter 11 we must get income from several other sources, which should be identified such as rental, licensing, royalties, coaching and training, partial investment of profits, paying off debts, real estate and individual retirement accounts etc. Part four starts with success secret no. 5 “Selling is nurturing”.  Our role is to help, advise and guide the customer to solve his problem.  We must nurture the customer for repeated sales, rather than only one sale by pressure tactics. Chapter 12 advocates overcoming shyness in communicating face to face, on the phone, voice mail, public speaking, seminars and presentations. As per Chapter 13 we should know our costs and real worth of our product and we should not price it very low, since in that case only gradual increases will not drive the customers to other suppliers. Competitor’s prices should be checked, two or more strategies should be combined and when necessary, figures should be increased, but not sharply. Chapter 14 states that we should identify our target market and carry out publicity through media coverage, news releases, advertising through various means, print, broadcast, direct mail, brochures, internet markets, web site, e mail, tradeshows and the powerful method of word of mouth.  As per Chapter 15 we should carry out research into the prospects of the sale of our product, look for opportunities, make an easy procedure for ordering and identify the problems faced by our prospective customers. We should have a follow-up procedure from the customers for getting repeat orders, and also from other customers through referrals. According to Chapter 16, 20 % customers account for 80 % of the orders and profits. Responsiveness, reliability and good service are important for such customers. Keeping in touch with customers, ascertaining their complaints and considering them as opportunities, taking responsibility for supplies, rewarding loyal customers and where necessary giving refunds willingly are necessary for ultimate success.  Secret no. 6 is, “The octopus is mightier than the elephant”, meaning that the person who can do many things at the same time, efficiently and completely, will be more successful. Part five starts with success secret no. 7, “The heart weighs more than the wallet”. Ultimately family is more important than business. Chapter 17 stresses on maintaining relationships in the family and community, involving children, parents, friends and pets, if any. It is very essential to keep a healthy body and active mind. Learning is a lifelong continuous affair, besides meditation, involvement in hobbies and quietness when required. Chapter 18 advises us to become hero to others and provide knowledge, energy and power to the people. References contain a list of 64 publications. Resources contain details of 28 organizations giving their addresses, web site, and e-mail ID etc. Author’s note welcomes questions and comments.  This book is helpful for upcoming enterprises for running the business successfully, and for existing business owners, to reorient their business towards success. This book is considered useful for business owners, all those connected with entrepreneurship and students of business studies etc.                                                                                                                                               .................vijaiksharma

CONSUMER CONFIDENTIAL (The money saving secrets they don’t want you to know)

CONSUMER CONFIDENTIAL (The money saving secrets they don’t want you to know) By Michael Finney, Berrett-Koehler Publishers Inc., 2004, pp 237, $14.95, ISBN    1-57675-300-x Reviewed by Vijai K Sharma Customers purchase their requirements from the market, after making necessary payments. Various manufacturing, testing, transporting, marketing and other organizations involved, thus earn money. Due to the limitations of funds available with the customers, they exercise control on the expenses, desiring to purchase more number or more types of items, with the same amount of money. There are some finer points in consumerism also, by application of which, consumers can save money. Other things like insurance, travel, investment and savings etc. should also be seen from the consumer’s angle. The author is a popular TV and radio personality, with a 25 years broadcast career. Contents, Acknowledgements, Introduction: Learning the hard way, Getting started: Now it is your turn, Resources, Glossary, and Index and about the author have been given at appropriate places. The book has 9 Chapters. Introduction gives the experiences of various customers about their treatments, payments & general behaviour, dealings with the employers, negotiating for salary increase, changes to less cumbersome procedures etc. According to Chapter 1, a good consumer should be aware of his rights, including legal rights, be fair to others and to himself, should get what he is paying for, should have respect for self, be flexible and ready to negotiate, give others an opportunity to do the right thing, should not get angry, not talk legally initially and be ready to sort out the matters, including by writing a short and to the point complaint letter, addressed to the proper and specific person. In Chapter 2, the difficulties in stopping payment on a cheque given to a supplier and the problems faced by the customers while using credit cards are narrated; terms credit report and credit score discussed and caution given about the bill collectors. It advises obtaining services of a good credit counselor for getting out of debt. Cash gift is always better as compared to gift cards and certificates given by individual shops. Consumers, who return and exchange gifts or items, are always at a bigger disadvantage. Chapter 3 discusses topics such as discouraging and stopping telemarketers, not allowing junk faxes and junk and spam mails to be received, not calling a toll-free number, not giving our name and address here and there, not responding to surveys or prepaid envelopes received or credit card offers etc. Several agencies are keeping track of our personal lives e.g. past medical history, items purchased, items consumed, especially through loyalty cards of stores. Theft of identity should be prevented by destroying our personal papers by burning or shredding and informing the police, if required. When personal private information is woven into a case, the innocent victim is in dire trouble, causing loss of time, hard ship and humiliation. As per Chapter 4, for insurance we should study information from internet and an expert insurance agent. We should buy more than one policy with staggering dates and make comparisons to get the best suitable offer for price.  It is advised to avoid insurance for cancer, credit card, credit life, flight etc., but to purchase disability insurance.  We must exactly know the terms of the policy. We should study and coordinate the plans and negotiate for health insurance, Homeowner’s insurance, rental insurance and auto-insurance. The author lists ten easy ways to reduce premium for homeowner’s policy. Chapter 5 says that we should consider the amount and type of car available for purchase and the talk of the car salesperson very carefully. We should study internet, newspapers, leaflets, information from other car owner friends etc. We should find a good used car; get it inspected by a proper car mechanic with the help of a friend or relative and negotiate for its price. Sometimes cars are available at discounts for reasons such as poor colour etc. We should buy car accessories as needed by us. For repairs, we should get a knowledgeable and honest mechanic, having reputation, explain the problem faced by us, get it written clearly &also get old parts back, unless there is a discount given to us.  Chapter 6 discusses ways for savings on travel by choosing a price, and not a place, for enjoying holidays. We should compare travel plus hotel costs together, and travel in off seasons. We should first get information from internet, compare tickets of various airlines, take advantages of a frequent flier, get discounted tickets or get seats in charter flights. We may arrive just near to and not our exact place, choose days and times of flight, when there is not much rush and buy return tickets. For hiring, we should ask for the small car and if not available, get the bigger one at lower rate. As per Chapter 7, we must not blindly follow others in acquiring things like luxurious house, several cars, yacht (boat) and other showy things. We should decide our needs, save for the rainy day and not depend on loans, credits and debts.  We should learn about investing through webs, books, videos and investing agencies. Our investments should include diversification, tax rebate if possible, and proper investment for retirement, with avoiding giving loan to our friends.  Chapter 8 discusses the factors before deciding purchase of a house like budget, requirement of floor area, availability of school, market, library, hospital etc. in the nearby areas. We should examine the physical conditions of the houses, the ownership documents and also get them inspected by a proper person.  We should compare terms and conditions, rates and find the best possible deal, for the long-term house loan, as per our requirements of service, stay, transfer, retirement etc. For selling our house, we should get it cleaned up before sale, and tied up with some agents. For improvement and remodeling of our existing house, we should have our own rough idea for repairs, final plan, estimate of expenses, fixing maximum limit of expenses, selection of contractor and follow- up etc. We should get references from friends and relatives etc.  Chapter 9 discusses the problems a consumer faces in general. Some people pose to assist us, with the similarity of our background, religion, state, language or caste etc. but they may be planning for committing a fraud on us. Some people send mails or e-mails with offers and ask for some money, but we may not get the job done or return of the amount. Some people or companies propose to give some things free. No one ever gives anything for free. There are hidden conditions or strings attached. Similarly accepting offer of some people to do repairs to house, vehicle etc. at reduced rates, amounts to inviting trouble to our life. Some companies advertise for travel or purchase deals and ask us to confirm immediately or the same day, but it is safer not to act in haste, but check from all sides. In various other trick schemes, making jewellery, medical billing, and envelope filling etc., the advertiser collects some fees from us and we are duped. The author lists ten things a smart consumer would never do and ten other points for alertness in our working, to avoid losing or getting duped.  The book is written with the background of USA. There may be marginal differences in the status position for some points in different countries.   But the basic theme remains the same. It is a good book to make the consumers aware of various positions and pitfalls and advise them to guard against future problems. It is considered universally applicable, suitable and useful book for all consumers.                                                                                                                                   ..................vijaiksharma

I THOUGHT WE’D NEVER SPEAK AGAIN

I THOUGHT WE’D NEVER SPEAK AGAIN           (The road from estrangement to reconciliation)           By Laura Davis, Harper Collins publishers, 2002, pp 342, $24.95(in US)            Reviewed by: Vijai K Sharma              Our relationships with others are very important in life, but are delicate like a thread. Due to some minor points, these may be subjected to stress and strain, causing slow or sudden deterioration. There may be breakdown in communication, estrangement, and hostility for several years, or a total break in relationship. Many instances are due to some misunderstandings, anger or betrayal by the persons involved. Such cases could be between parents and children, husband and wife, between children, between friends, victims of war and criminals etc. There will be many types of such cases, with each one being a unique one. But reconciliation and reunion is possible. Peace can be restored through reconciliation, by resolving the trouble spots in such relationships. An important factor, which plays an important part, is forgiveness.  The author offers lectures & workshops on reconciliation, and has written several books, 1.8 million copies of which have been sold worldwide.                 Besides Contents, a special Preface to first edition, Acknowledgements, & Introduction, it has 11 Chapters in 5 parts, in which “preparing the ground, marshaling your strength, opening the heart, making amends & finding peace” are covered. These are followed by, information about free reconciliation newsletter, Appendix A: Are you ready for reconciliation, Appendix B-Ideas for Reflection & Discussion, and Index. As per the introductory Chapter, with loss of a precious relationship, the fabric of life is torn. For repairing such damaged relationships, and changing blame to acceptance and love, we have to go step by step. Such steps are stated herein. It is like an action-in-progress. With passage of time and effort, different levels of relationships can be achieved. According to Chapter 1, no one likes estrangement. But if does happen, it causes pain, anger, sorrow, discomfort and shrinkage of life, especially when the relationship is close. When estrangement is severe and recent, reconciliation is very difficult. Factors like time, distance, wisdom, maturity, and experiences of life cause automatic healing, by fading and removal of the images of the events, blame and anger etc. Due to some events in the family e.g. death of persons, births of children, some close person’s life threatening crisis, we feel internally, or are forced by outside circumstances to reconsider such breaks in relationships. Chapter 2 states that all relationships need to be nurtured for making them healthy, for which Communication skills play a very important role. Instances of physical, sexual or psychological violence cause extreme shock, which cannot be forgiven. However, when the sufferings caused are acknowledged truly from within the heart, reconciliation can be achieved in reality. As per Chapter 3 we should list out and evaluate the causes of old points of differences, conflicts and complaints, ways the estrangement is helping in any way, and what it is costing. Based on our internal assessment, we can channelise our efforts and actions, and not become hopeless. We should look beyond the ways the wrong was done, and see a total picture. For possible reconciliation and its type and level, we should consider the strengths, weaknesses, capabilities and willingness of the persons involved on both sides. Even in a normal relationship, ebb and flow of closeness does take place. The sessions of mediation between the victims and the perpetrators, have to be carefully prepared, wherein the victims have to be allowed to speak first. As per Chapter 4, just before initiation of efforts for reconciliation, there is fear on both sides. It needs lot of courage and inner strength. However, one small step in the right direction can lead to surprises and miracles. Many victims suffer from post-traumatic stress disorder, and they may have feelings of disinterest in life, or even think of ending of life. In such cases, victim-offender mediation programmes are helpful, even though slow. However, we must consider the positive and negative points of various factors, when either we are taking the first step towards reconciliation, or responding to such a gesture from the other side. We should proceed slowly, take risks in a gradual manner, have positive outlook and also make visible changes in the patterns of our behaviour. Chapter 5 advises us to have patience, never giving up and following the matter continuously. Often such reconciliations are richly rewarding, and ending on a happy note. The author writes about the concept of teshuvah or turning the life around, in which, the person who has wronged, asks forgiveness from the victim, and then changes his behaviour. For this process, we can have individual therapy, family therapy, religious counselling and the internal divine help. Above all, the long-term comfort should be the guiding factor. But it may not happen in one smooth event. There will be different stages and events in this process e.g. breakthroughs, setbacks, moments of determination etc. Distances have to be bridged, leading to a win-win situation. Sometimes amazing results have been achieved e.g. the victims and perpetrators of the victim and their relatives have come together, to stop things like violence amongst youth. As per Chapter 6, if we tell truth lovingly, listen honestly and have an effective communication, healing of the broken relationship will be possible. We should use right and appropriate words and tone, and analyze the situation correctly. Formation of family circles is advised, in which one person is allowed to speak at a time, during which all should listen carefully, and no comments should be made and only some clarifications can be asked through some questions. With honest dialogue, trust and respect for all persons and their points of view, reconciliation can be made. Chapter 7 states that we should not condemn a person, think of other person’s pain and be unselfish. We should see and accept our imperfections first, (and not make judgements on others) and put ourselves in other’s shoes to get a full view of any situation. The author narrates about the event, when an American soldier and a North Vietnamese soldier met, long after the war was over. There was more compassion and less hatred, since there was loss and sufferings in the war on both sides. Chapter 8 discusses about responsibility, humility and accountability. It advises us to continuously look within ourselves and examine our actions, motives, intentions and shortcomings. We must analyze our exact role, and accept our responsibility in the estrangements, apologize sincerely and change our behaviour consistently. This has considerable healing power.                 About the book, about the author & her photo have been given at appropriate places in the book, which the author has dedicated to her parents. Nineteen authors & directors of some organizations have given Praise & Comments. The book has 6 boxes giving summary of important points, 35 footnotes, 45 quotations, 2 poems & a large number of Case studies. Every page of the book gives hope and provides ways for reconciliation. It is a realistic guide. Summing up, by her powerful style of writing, she has made a very valuable contribution by writing on this topic. This book shares the keys for resolving troubled relationships & finding peace, through reconciliation.  It is useful for every one of us, irrespective of age, gender or country, in case we are in the need of reconciliation. It is equally useful, for avoiding estrangement with other persons in future, and continuing to have peace.                                                                                                                .................vijaiksharma