Archive for the ‘business’ Category
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15
Feb
2010
Explain you credit organization vision
Once you commit to partnership, you must invite your partner into the strategic planning process with you. KLM and Northwest Airlines do joint strategic planning for the marketing of the flight schedules. Coca-Cola and McDonald’s launch promotional activities as a result of strategic planning. To get additional value from the partnership, the partners must engage in some strategic thinking and thus planning in order to achieve the outcome they both desire.
The Strategic Framework is a format I’ve used to help partners get the greatest value from their partnership. Based on the Holistic Organization Model, it explores both the material and ethereal realms of each business. With this format you can see how these two separate realms complement and support each other as they create the outcome: the product or service they want to deliver. Starting at the top of the model I ask the partners to explain their organization’s vision.
7
Jan
2010
Insurance that will reduce your credit risk
Your life insurance policy may have a cash value against which you can borrow. The interest rate for borrowing your own money, in effect, is usually lower than almost anywhere else you could borrow the money. If yours is a whole life policy, this may be a possible source of money that you could use in the development of your product. If it is a term policy, there will be no cash value option. Check with your insurance agent to see if this is a possibility for you. Be certain that borrowing against the cash value will not reduce the benefits to your family should something happen to you. No matter how great your invention and how much faith you have that it will be a fabulous financial success, the financial security of your family should be your first priority, not funding your invention. You can find creative ways to plan for expenses or obtain funds for your invention without putting your family at financial risk.