Welcome to the IL SBDC Business Book Club's blog. As we discussed in our August 20th discussion meeting, technology advances have eased the barriers for individuals to compete globally, as well as, the need to extend your network of business contacts -- this blog addresses both of these concepts.
This blog is a way for you to stay connected with your Business Book Club colleagues and keep the discussion alive and relevant for each of you.
My objective with this blog is to continue the discussion on our topic and offer you other resources/ references to expand your knowledge. Your participation is critical! Let me know what you think by adding your comments!
Sue
Thursday, August 27, 2009
August 20th Discussion Recap on The World is Flat by Thomas L. Friedman
Dear Book Club Attendees,
Thank you again for participating in our inaugural Business Book Club Discussion meeting. I enjoyed being the moderator for this interesting and diverse group!
The meeting was a wonderful opportunity to hear how the changing competitive landscape is affecting each and every one of you and your strategies to stay competitive.
A recap of some of the key points of the meeting:
· To stay competitive, your business needs to be well managed and financially healthy (many marginally run businesses have gone out of business)
· Failure of competitors has created opportunities for others and neutralizing (somewhat) overbearing buyers (i.e. auto parts industry)
· Technology advances has eased the barriers for individuals to compete globally – still critical to make a “connection” in your business (people like to do business with people)
· Extend your network of business contacts/referrals – use a variety of techniques, such as, professional networking organizations, LinkedIn, Facebook or other technology tools
· Be an “expert” in 3 things – keep it simple, but current
· The changing competitive landscape is requiring new business skills: Collaboration, Ability to Synthesize, Coordination, Direct/Specific in Communications and Ability to Translate Needs.
Lastly, as a closing statement, remember when we were children we needed to “clean our plates” because there were children in developing countries that were starving. Now we need to do our homework, because there are children (or adults) ready to do our jobs!
Sincerely,
Sue
Thank you again for participating in our inaugural Business Book Club Discussion meeting. I enjoyed being the moderator for this interesting and diverse group!
The meeting was a wonderful opportunity to hear how the changing competitive landscape is affecting each and every one of you and your strategies to stay competitive.
A recap of some of the key points of the meeting:
· To stay competitive, your business needs to be well managed and financially healthy (many marginally run businesses have gone out of business)
· Failure of competitors has created opportunities for others and neutralizing (somewhat) overbearing buyers (i.e. auto parts industry)
· Technology advances has eased the barriers for individuals to compete globally – still critical to make a “connection” in your business (people like to do business with people)
· Extend your network of business contacts/referrals – use a variety of techniques, such as, professional networking organizations, LinkedIn, Facebook or other technology tools
· Be an “expert” in 3 things – keep it simple, but current
· The changing competitive landscape is requiring new business skills: Collaboration, Ability to Synthesize, Coordination, Direct/Specific in Communications and Ability to Translate Needs.
Lastly, as a closing statement, remember when we were children we needed to “clean our plates” because there were children in developing countries that were starving. Now we need to do our homework, because there are children (or adults) ready to do our jobs!
Sincerely,
Sue
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