So you wake up one fine morning, open the newspaper and it suddenly hits you right between the eyes: there’s a full-page ad announcing the grand opening of a new competitor. This does not sound like good news. An emergency meeting hastily takes place at the office and the gloomy faces of your fellow workers speak volumes. “Help – there’s a new competitor! Who’s this new kid on the block and how will he affect our business?!”

According to many economists, if you play your cards right, that new kid on the block will actually affect your business in a positive way. Because believe it or not, competition is not scary for business… it’s healthy. Read more

Okay, by now you’ve probably heard all the hype about the new iPhone 5. Apple fans are praising it; comedians are lampooning it; and the stockbrokers on Wall Street are enjoying every minute of it.

According to USA Today, iPhone 5 retail sales appeared to be exceeding expectations as Apple stores were inundated with customers snapping up the company’s latest model. Outside the Upper West Side Apple store in New York City, hundreds were lined up around the block as blue-shirted Apple employees walked around the line, answering questions and handing out free coffee.

But Apple fever isn’t only taking place in America. Hundreds of cold and tired customers were lined up outside the Apple store on London’s Regent Street the night before the iPhone 5 release. Many had been waiting outside the store all night without food or anything to sit on, but the general consensus seemed to be that the hassle was worth it. Read more

Over the past few weeks, I’ve gotten tremendous feedback from my readers about suggestions for future LTB topics. While most of them were obviously business-related, there was one particular topic that didn’t quite fit the traditional “business” genre – but is still so very important.

And I would like to introduce that topic – and the significance it holds – with the following true story.

It was a busy Mother’s Day at the florist shop when a wealthy businessman driving a shiny Cadillac pulled into the parking lot. His elderly mother lived eighty miles away and he was hoping the florist would agree to make a special flower delivery to her distant location. As he got out of the car, he noticed a little girl sitting on the curb sobbing softly. Read more

Summer is officially here and I hope you’re excited about the warm weather, beautiful trees and the gorgeous skies. It’s time to plan our summer vacations. 

If you are not planning an all-out summer vacation I seriously encourage you to do so. We all need a vacation to a certain extent, although we all have different ways of accomplishing it. Some need the physical distance and change of scenery, and will need to take off a week or so to travel. Others are happy to take a break by staying home from work for a few days; but in the final analysis, we all need to recharge once in a while, and what better time to do so, than during these beautiful summer days? 
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A very close friend of mine spent months trying to land a new account with a potential client. In an attempt to get the contract signed on the dotted line, he did everything that a good salesman should do.

He called frequently to find out “updates” on the impending deal. He “just happened” to pass by the office every few weeks with fresh coffee and donuts for all the executives. He even went out of his way to email the potential client “informative articles” about industry happenings to display his knowledge about the field. But despite all his various attempts, nothing happened.

Desperate to find out why these sales pitches weren’t working, he finally paid the client a visit and posed the question to him directly. The client’s reply was curt and to the point: “We already have a company that we get these products from and we’re extremely happy with them. Why should we go out of our way and buy from you?” Read more

What’s the first thing that comes to mind when you think of summer? Perhaps it’s a fresh mountain breeze. A freshly-squeezed glass of lemonade. Or maybe a refreshing slice of juicy watermelon.

Fact is, there’s something about the summer season that ushers in a feeling of freshness, energy and positive vibes; the enthusiasm of summer is just bursting with life and activity.

And even modern medicine will back me up on that one. Read more