Power in business is about having choices

Power is about having many choices

I was watching television last night, and an old businessman said, “You don’t get power, you take it”.  This is somewhat true.  But, real power is all about having choices, and good choices.  If you have a million dollars, but there is only one place that serves food where you are, and they want half a million for a hamburger, your money will soon run out. So, money alone is not power.  However, if you know how to use your money, then you have a lot more power.

On the other hand, if you only have $50,000, but there are twenty places selling hamburgers all competing with each other, and you can get your hamburger for 20 cents, and hopefully a good quality burger too, then your money will last a long time.

We live in a strange world, where money is not backed by anything. A few decades ago, American currency was backed by a gold standard. Now, it is backed by nothing, and the money supply can grow when banks “create” more money to loan out. Sure, there are laws regulating how fast they can create money, but money is just arbitrarily created, and the money itself has no inherent value.

One year you might have $100,000, and the the price of gasoline could become $20 / gallon, and all your money will be lost paying for gas.  Another year you could have $200,000, but then fall ill, and your medical expenses could take your last penny.

How does this apply to your BPO business?

In a BPO business, your power is your ability to hire good people to work for you. Rather than just hiring people and settling on them, it is better to hire more people than you need so you can get rid of the underperformers.  Most workers in any country these days are underachievers, and you need to avoid these types like a disease.  Seed and weed is the agricultural expression to describe what I am talking about.

Hiring BPO companies

Also, if you are hiring outside BPO companies to work for your company, don’t just settle for one. Do a lot of shopping around and take notes about their performance. You don’t know a company until they have worked for you a little bit. Then, you will have an idea of how they perform.

The main point of this article is to put a lot of effort into making sure you have choices, and knowing how good those choices are — otherwise you are powerless and helpless!

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