The Ideal Dream Seed


Success would be simple if we could go to a store and tell the merchant, “Sell me a dream that is guaranteed to make me happy and wealthy.” But we can’t. dream seeds are not for sale. Nor can they be inherited, borrowed, or otherwise transferred. Friends, parents and teachers may suggest goals, but only you can answer, “What dream is best for me?”

You may often ask, “Where can I make a lot of money?” in a way, that question is like asking on a bright day, “Where is the sunlight?” or, asking aboard a ship on the ocean, “Where is the water?”

The answer to “Where is the money?” is: “Everyhere.” Jobs have great economic potential. Most musicians earn small incomes. But a few earn millions every year. Typically, ministers are poorly paid. But some are richly rewarded financially. Many small business owners earn little. But some prosper and reap fantastic rewards.

In terms of economic opportunity, it is not the occupation that makes a person prosper. It is the person who makes the person prosper.

The best dream seed is the one you can’t get out of your mind – an idea that never leaves you, a cause or a purpose that absorbs you, an obsession. That one thing you must do is your ideal dream seed.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

 

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Delayed Performance


Delayed performance will always justify a claim of damage where it can be shown that loss was occasioned by the delay. Most courts hold, however, that delayed performance will not be a material breach justifying rescission unless performance by a certain date is a condition precedent in the contract. If the late performer has any reasonable excuse for delay, the courts may allow damages but will seldom agree to rescission.

In agreements for the sale of marketable merchandise, however, a contract calling for shipment or other performance within a designated time is generally held to be a condition precedent. The difference between merchandise contracts and other contracts is in the position of the injured parties. A delay of a week in obtaining possession of a new home would not likely be crucial to the average home buyer. But a merchant’s success depends on the prompt delivery of goods to customers. Often advertising and sales programs are scheduled around specific delivery dates. Consequently, a delay in the shipment of merchandise is usually held to be a material breach.

Delay cannot be tolerated indefinitely in any kind of contract, however. After the passage of a reasonable time without performance the courts will permit rescission in almost any kind of contract. What is a reasonable time will vary with the type of agreement and all the surrounding circumstances. If no date is specified in the agreement, the courts interpret this to mean that performance must be done within a reasonable time. When time is of great importance, the contract should always be drafted to read that “time is definitely of the essence in the performance of this contract.”

In a bilateral contract, the injured party cannot regard the other party as being in default until the injured party has offered to perform. In legal circles, this offer by the injured party is called a tender. Depending on the terms of the contract, the tender must be either an offer to pay or an offer to perform a service.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

What is a Market?


The market, or trading area for a particular firm, is the area which it seeks to serve with its products or services. From the buyer’s point of view, it is the area within which the buyer knows he or she can find desired goods and services at desired prices. The definition of a market, or trading area, from the buyer’s and the seller’s view may not be the same. Sellers may desire to expand their markets beyond the limits that are normally recognized by buyers. Experience will tell merchants the proper limits of their trading areas if they have the means of measuring the sources of sales. Market areas may change with the development of new shopping centers in adjacent areas. At any given time, a market has its limits set by the area within which the firm can economically sell its goods or services.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Good Management


Good planning and good management are probably the best protection against most of the other risks. Price fluctuations of any normal retail inventory may be upward or downward. Good management will keep itself informed of price trends. Study of population trends and business activity will warn merchants early if their location is losing its value. Good accounting records and study of operations against a budget will warn of any developing adverse trends.

 To handle the risks of dishonest employees, good management will provide devices such as internal security guards and signal systems for detecting pilferers. A reputation for prosecuting pilferers and training all employees to be alert to the problem will help to reduce pilferage. Tags in merchandise which act of alarms at the entrance unless removed by the sales person are now common. These methods are often expensive but necessary. Personnel policies will provide means of checking employees whose honesty is questioned. Inspection of employees of checkout time is being used by manufacturing firms, some airlines, and other type of firms. It is recommended for wholsalers and retailers when losses in this area are deemed a high risk. Fidelty bonds may be purchased to protect the firm from losses by dishonest employees.

 The risk of financial hardship can best be coped with by proper financial planning and financial management. This common risk has caused the downfall of many firms which otherwise had a most profitable future. Over and above good planning along the lines, watching the key financial ratios in the financial statements, the cash adequacy rule, and investment in receivables, and having a cash flow statement are devices to protect against this risk. Having a good performance record for honesty and fair dealing will help the business secure financial help when it is needed.

 My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight