10 business lessons I learned from Facebook’s Farmville

Business lessons can be dug anywhere and anytime. If you have the entrepreneurial mind, you can reflect and learn important business virtues from your simple daily activities. I’ve been an ardent Facebook user for a couple of months now. The world’s most popular social network site is really fun and interestingly interactive. There, you can enjoy great games and applications including some marketing tools to promote your site. And here comes one game called Farmville – the only game I can allow to play for myself for currently experiencing time poverty.

Farmville is a very popular Facebook game application created by Zynga, a prominent company and developer of social games on the web.  It has more than 55 million monthly active users as at the date of this post. Inside the game, you can create your own farm, plant fruits and vegetables, raise nice animals and decorate the farm the way you want it. You can also send and receive gifts to and from your friends and neighbors. In the market, you can buy your desired seeds to plant, animals to breed and other stuff and infrastructures you want depending on your current level. As of the writing of this post, I’m just in the 12th level of the game. Nevertheless, I already enjoyed and had so much fun with it. And beyond that, I have learned the following ten business lessons that every business owners and entrepreneurs should reflect. Read more

How to avoid financial losses in your business

Profit is what we aim in doing business. By achieving it, we can gain financial power that we can use to stabilize our way of living including those of our family, friends and community. It is a joy for every businessman to have a net profit in their statements of income. On the other hand, a net loss at the bottom of those statements may make them frown. Financial losses may occur whether your business is big or a small one. But no matter how big or how small you have, you should do something to avoid those negative results in your operations. Income and losses are the possible results in your income statement. Hence to attract income and get rid of losses, we should know how to play with the nominal accounts – revenues and expenses. The following are the tips and ways on how to stay away from those losses. Read more

Top ten reasons why business fails

We build our businesses to let them live, run and grow. That’s why business failure is a happening that we always wish and pray to never come out into reality. But how can we avoid it? Even the giant companies fail despite of their gigantic assets and equities. More and more small entities also become unsuccessful. However, this doesn’t mean business success is an impossible dream. We can be successful entrepreneurs. To achieve that, we should learn the reasons why business fails, and do our best to overcome them. Here is the list of the top ten causes why businesses do not succeed:

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Free Business Consultation: Free Tips and Advice on Entrepreneurship

During the earliest era of our planet, when monarchs and millionaires do not exist yet, people are considered equal in terms of acquiring their necessities. There are no poor and there are no rich people. Everyone enjoys the abundant resources of the Earth. But when money was invented, humans were divided into two categories – the poor and the rich. The rich people indulge the treasures of the Earth, while the poor people suffer starvation and scarcity of their basic needs. This reality hurts! People should have been equally enjoying the resources of this planet. People should be equal again. With all of us eating the same foods, drinking the same liquids, wearing the same kind of dresses and living in the same kind of houses. However, we cannot just ask the millionaires and the billionaires to distribute their riches to other people to financially and economically equalize all the people in this world.

My idea is to make all the people millionaires. We shall not pull the rich people down to make them poor and make us all equally poor. We shall lift ourselves high to make us rich and make all the people equally rich. Read more

Seven Tips on How to Improve Your Cash Flow

Cash is the most liquid among the resources your business could have. It is the most conveyable and most efficient consideration for every transaction you will get into in carrying out your business. But because of the slumping global economic condition, you had an unfavorable cash flow. A better panorama of cash flow is an indication of a high liquidity status of a certain person or business. It also attracts creditors and investors. Now, if you are a bit frustrated and disappointed on the flow of you cash, the following are seven simple and direct tips you can do to improve how your cash runs.

1. Collect receivables. Strengthen your collection effort on your accounts receivables. Give discounts and other rewards to encourage early payments from your customers. Sending demand letters is also one way to knock your debtors to act on paying their debts on you. Read more

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