Visit the following link for an exposition of new thinking about the merits of the most established way of developing business:
My focus at this forum is on small business and individuals. We are strongly influenced by the methods of banks. The stock market system is another powerful dimension that shapes the planning of potential and hopeful entrepreneurs.
Communists and assorted socialists are the only ones who do not celebrate instances of major enterprises being built from borrowed funds. Much of Management methodology revolves around developing persuasive business plans to woo investors. Indeed, this is a significant aim of the Planning process about which I wrote last week.
What happens when projections go awry?
Banks and other lenders cover their lending risks with aplomb. Stock owners can jump ship at any time. The borrower is alone.
I recommend Islamic Banking as a safer alternative to conventional ways of raising money from others to realize your dreams. Study the material at the following link to understand the tenets of a system that shares the risks business development through committed participation in management:
Suppliers, the downstream supply chain, and external customers, are three useful categories of stakeholders, who can help you build an enterprise through Islamic Banking principles.
What if you are unable to service debts that you taken already?
I do not know of anything that can bring on the kind of despair that such a tragedy unfolds. Nevertheless, most situations of this genre are not as hopeless as they may seem. There are no easy answers for the seemingly intractable problems of life-threatening debts, but here are some samples of the bitter medicine for financial reconstruction:
a. Save on recurring expenses
b. Liquidate assets
c. Negotiate realistic rescheduling of interest costs and repayments
d. Pursue every avenue to raise income
e. Seek one-off grants from well-wishers
None of these steps may work adequately or in time, but it is worth trying.
I am willing to help. Write to me in the space below, and I will do my best for you.
Here is a picture of rural youth from Northern India (Padrauna, Uttar Pradesh):
They are neither well-qualified, nor adequately-resourced. They are amazingly gifted artists. How can you help them become celebrities and stars, which they surely deserve?
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