Every one of us agrees that we are living in a competitive world. We are creating new ideas and looking for resources to in order to produce more results for an exchanging of reward with the marketplace. The reward I am talking about can be financial, social, relational, emotional, physical and spiritual rewards.
Interestingly, while there are a lot of changes and competitions youth are encouraged to start their own companies. Yet each of them might did not be able to answer these critical questions for winning in business.
1. What drives me into this business?
2. What business means to me?
3. What need to have in order to win in business?
4. What does Bill Gates know about running a winning business that I did not know?
Why I know this?
It is simple answer. I was one of them. However, I was driven in my seminar business because I have a mission statement “To live with integrity, wealthy, and make positive changes on the lives of others.” In other words I could answer the first questions.
So far, I have running my business for over three years. I started with a few hundred dollars. Do you know where I got money? I sold my wife’s motorbike. Yes, USD 430 was our initial capital for our business venture.
We did not have many resources, but we are resourcefulness. My first success in my business was I managed to partner with the world #1 seminar organizer, Success Resources, and be their representative in Cambodia before I registered my company, PM Leadership. I learned this from other business owners. We need to be able to sell our ideas before we can sell our services or products.
Today, I lead my team at PM Leadership to organize some of the big seminars Rich Dad Asia Bellum Tan, Adam Khoo, Jonathan Quek, and so on. The speed of our work is a direct result of our continuous learning and education. We never stop learning. I attend many trainings and I enrolled many business-coaching programs. Some of them cost over USD 3,000 for two days. I met great people such as Sir Richard Branson, Robert Kiyosaki, Blair Singer, Les Brown, Gerry Robert, just name a few. I have mentors who are multimillionaires.
What I am trying to say here is not because I want to impress you. I want to encourage you to see the power of ongoing learning which is the fuel for to accomplish any thing you want. And I want to prove that I am qualified to write the next articles to entertain young entrepreneurs. To inspire them so they do not feel lonely on the journey to create more values for our society and bring more innovative services and products for the marketplace. Most importantly, I don’t want you to drove away the printed-paper of my writings before you read.
The articles that you are going to read are based on my experiences and opinion only. I can be right and I can be wrong. I bear no liability to the concepts and strategies I am going to share with you. I encourage you to seek for professional experts before you implement my ideas.
Now let’s begin our journey to Winning in Business for the perspective of Piseth Kham.
Everybody creates, designs, and proliferates culture in its own, special ways. Successful businesses thrive on the competitive advantage the integration of culture disburses to its employees, supervisors, and clients. Cultures change and adapt, they are not untimely nor uniform; look, for example, at the culture that represented Lehman Brothers before the Great Recession: responsibility, prosperity, confidence, and expansion. Now that the business climate has change, business cultures must work harder —and smarter— about their affiliation to its clients/customers. The first customer for your business is yourself. Your business needs to be affiliated with your heart and soul. The second customers are your team members or your staff. You need to make them love what they are doing in your company because they spend more time in the company than they spend with their families. The third customers of your company are those people who love your company, your services or your products. They exchange their money for your services or products. And when they like and trust your services or products they recommend other people they know to you. The winning culture synthesizes this simple equation and makes it their own:
Affiliation = Results
Like creating a winning culture that emphasizes on trust, efficiency, and (on occasions) thrift, successful leaders must work hard to re-evaluate their short-term and long-term brand. What has made firms like Disney, Coca-Cola, EBay and Amazon.com, or local brand like ACLEDA Bank successful is the moniker of innovation, integration, and appeal to weather out and transform themselves—and their surroundings. They know what they’re doing, and they let their consumers know that. According to Dave Ulrich and Norm Smallwood of the Harvard Business Review, leadership brands must focus on five guiding principles:
1. Define the basic traits of leadership.
2. Internalize their constituent’s high expectations.
3. Leaders must evaluate according to external perspectives.
4. Invest in broad leadership skills and design that guarantee long-term results.
5. Lastly, track successes and leadership, leaving room for improvement.
Now, we have another piece to add to the equation:
Affiliation + Branding = Results
But successful business can’t live on culture and branding alone—that strategic planning to incorporate the company’s values and refine the identity of its leadership is a great beginning, but it’s not the end. Marketing is a must that contributes energy and synergy to any business, regulating its cash and human capital, and connecting team strength and weaknesses to another level. Marketing leadership is fond to create engagement and empowerment for the future —this is the core trait that, as an example, drives powerful electronics companies like, Apple, LG, Samsung, and Toshiba to diversify their offerings to the marketplace: smart phones, computers, HDTV, social media, and the like. With this new piece of the equation, results are almost a sure-fire guarantee:
Affiliation + Branding + Marketing= Results
Cash Flow Leadership
However, businesses shouldn’t merely limit themselves to make their resources palatable to its customers— why not make them available? Capital equipment, financial performance analysis, contract negotiations and —in volatile times like this— sound credit management are pivotal investments to consider as major opportunities that can make or break (if leaders allow so) a business’s path to glory.
As a new business owner you need to define winning in business in terms of cashflow running in that allow you to create and bring more values to your customers. Your competitors are happy to see you die, But your customers are happy to see you grow because they benefit so much from you efforts.
Creating the perfect conditions for regular and prosperous cash flow involves a mental shift, a thrive to achieve. Ambitiousness and fiscal accountability requires experience and counseling, success with cash flow is not an overnight affair: it has to be planted and harvested with care in mind:
Affiliation + Branding + Marketing + Cash Flow = Results
I recommend you to attend our CashFlow Club Cambodia run by PM Leadership. It is a program that many business owners love to attend. And you need to.
In the end, no one is an island, and no one can do everything on their own: each leader has its own place and time to shine, and each employee has its own pace to lead. With mounting pressure and intense competition, teams are encouraged to become creative —to think outside the box, take calculated risks, engage with the world, and exceed productivity. And yet, team leadership is not a linear path. As culture-builders, teams have the power to network and collaborate with the rest of the world —why not include them in the final piece of the equation:
Affiliation + Branding + Marketing + Cash Flow + Teamwork = Results
My next article “Winning in Business with Little Capital – Strategic Culture”
Piseth is a man of vision. Known as an Entrepreneur, Leadership Strategist and Business Trainer. His opportunity to work with world-class experts and trainers has made him unique and different to other trainers in Cambodia. He is personally mentored by Rich Dad Asia Bellum Tan and The Guru to Gurus, Rich Schefren. He met Richard Branson, Robert Kiyosaki, Les Brown, Blair Singer, Ron Kaufman, just to name a few. He is famously known for starting his company with a few hundred dollars and turning it into a national brand within one year. Beyond that, he is a teacher and an educator. His corporate clients includes Virtus Group, 3 Sisters Clothing, Lotus Advertising, Marist Solidarity Cambodia, CRDT, CSUK and more. Piseth has appeared on famous media outlets such as CNC, SEA TV, TVK, Hang Meas TV, Bayon TV, Radio Australia, National Radio, Phnom Penh Post and others.