Street Smarts: Good Business Practices

A well-thought, back to basics article on good business practices.

An Excerpt:
“When you deliver a product or a service in the belief that the customer will eventually pay you for it, you are making a loan, and you should treat it accordingly. That means determining whether customers are creditworthy and finding out in advance how long they take to pay their bills. It also means getting into the habit of checking the quality of your loan portfolio regularly and making sure your average collection time is what it should be.”

Read the article: Street Smarts: Secrets of a $110 Million Man

Entrepreneurship is all in the mind

“Scientists have shown what many have always suspected – that entrepreneurs’ brains are different to those of managers.  A study at Cambridge university, published on Thursday in the journal Nature, found that entrepreneurs’ brains were more active in the region responsible for taking “risky or hot” decisions.

The researchers suggested that the type of risk-taking essential to the entrepreneurial process could be taught, or enhanced by drugs.” – FT

Read the article : Entrepreneurship is all in the mind  or, registration free link