Skill is the ability to do something really well. This is nearly lost in our society today. Everyone is in such a hurry that very few will take the time to develop or learn the skill needed to do a good job. Today, people want to make lots of money with very little effort.
This has not worked all that well. We have ended up with people running the government that do not seem to have the skill to do much right. The people in charge of some of the largest companies have done a terrible job. This is mainly because they have not developed or learned the skill necessary to do the job properly.
Now, every thing is about how much education someone has, very little concern is about how much skill they have. A good education is wonderful, that is a good start. Now we should take what education we have and have it help us develop our skill. We have had many people that have done amazing things with very little education but they worked and developed their skill to a high level.
Skill will help us much more than just education. Education will help us with the tools to learn how to develop our skill. As one person said “I went to the class to learn how to do a certain thing. I did not learn how but did get the tools to learn how”.
Skill is a combination of knowledge and ability. Now more than ever there is this charge into something new because there is so much profit involved. This has happened before like the “Tulip Craze” that happened many years ago. These things are happening more and more now. There is this rush into something just because someone else is making money, or they say they are.
Before starting or going into a new business it is very important to learn or develop the skill that is required. This may take years. The problem is people have very little patience and want every thing right now.
When someone operates their business with a high skill level, then life is good and the business will be profitable. Almost any business, old or new can be profitable. What will determine that is the skill level they are operated at. Old business can cease to be profitable if everyone in it does much the same thing. The old business can continue to be profitable for the few that are willing to learn how to do things at a higher skill level.
A new business offers a new challenge. The fact that it is new probably means very little is known about it or at least not enough. To be successful we must learn and develop a high skill level fast, or at least faster than other people involved in the business. New ventures have a boom and bust or a boom and then turn into an old industry. New ventures turn into a bust because there is not enough knowledge to make every part work. Certain parts of the venture will grow faster than the market they have, or not grow fast enough to supply the market. Most new ventures offer a larger profit potential. This is usually necessary to get people involved and to get financing. While the profit potential is there, the people with the most knowledge and skill will end up with most of the money.
If you want to be profitable then acquire the knowledge and develop the skill.
New ventures are great. It is possible to develop a new venture within an old business or in something entirely new. Be very careful not to grow faster than your knowledge and skill. Usually the most problems are created in the ventures that grow too fast. When the boom or bubble is biggest the bust is also bigger.
Be sure that you take profits. Profit potential sounds good but will not pay many bills. A sound business is one that operates with profits not potential.
Very few market busts hurt the people that were taking profits as they went along. To lose money while growing a business may sound alright, but a growing business should make money, or just how good is it?
Sometimes it is easier to make excuses than to make a profit. Almost any business has potential it is up to you to make it profitable.
With knowledge and skill you can Smile and Mean it!