Wilson Ng started helping the family business since 9 years old. Since then, he had dreamt to be a successful entrepreneur, one who starts great businesses  ( he has started 7) from scratch with insight, guts and initiative. He keeps his focus on growing the business by creating value-- not on politics, or wasteful distractions. He brings the same focus to community service, teaching, life and family.

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Pls. check out my new compilation in easy-to-read format the selected business articles of enduring value here.

	Tuesday, September 06, 2005

Shared Accountabilities   (on business)    (selected articles in bizdrivenlife compiled) If you have a number of different divisions, or small businesses, one thing that is guaranteed is that you will never at any time, have the satisfaction of knowing that 'all' are doing well.  At one time or another, some would be doing well, but some are still growing, or in the process of restructuring.  It is almost like if you have 50 friends or family members, there will be very scarce a time that they will be able to find time together to meet at one place in one time. More often than not, some  would be on travel, committed  or sick.  Similarly if you have 20 branches or 100 employees, there will always be a time when some people would be 'challenged', or some branches would not be doing as well as expected. Don't be daunted.  It is just the tyranny of numbers.  Your goal is of course to make everything do well, but similarly also to strive to be happy and profitable EVEN if not everything is doing well.  The man who is never happy unless everything is in place will find it very scarce that he can celebrate.  Just like a librarian who would never be happy until all his books are returned and in place -- it may never happened. At the end, however, excellent your business is, or fortunate your life is, you will never find it right if your goal is to find something that is wrong. So, we have some products or divisions that is not doing well as expected. My colleagues ask me whether I was worried.  One of our departments have been lagging behind several months, and still losing money.  I said I was concerned, but in some way I know it would work out.  Why?  Because , first is that it is headed by capable people who has been successful before, and knows how to succeed.  Second, they has as much to lose if it fails than I do, and a man or a team who knows how, and has every reason to do it, WILL do it. Which actually , as an entrepreneur and as a businessman is your goal.  You cannot do it alone. You need people to help you.  And the most important thing you can do is to structure your cooperation that you have joint accountabilities and responsibilities.  If you get people who are good, and work it out that they don't want to fail, and want to succeed with you, then I think you are already half way there. Which may be the reason that franchises could be a better way to expand your business.  Structure it in such a way that the franchisor comes up with the brand, and the systems/processes.  Structure it in such a way that the franchisee commits to a proven system, and understands how to make it succeed - and give him the incentive to make it successful together. A good system, plus the motivation propelled by a joint reward system.  I think that should work, not all the time but most of the time.  What do you think?   12:17:19 PM     comment []   trackback []

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