贵金属投资技术分析英文版.ppt

1,BUILDING LASTING BUSINESS CLUBS The Pitfalls, Principles and Investment Options,2,Content,Introduction to Business Partnerships; Causes for High Failure of Clubs; How to Nurture a lasting Club; Intermediary Steps to Equity Partnerships.,3,INTRODUCTION,Importance of Partnerships: 2 Quotes One relating to a Journey; One on the acronym: TEAM.,4,CAUSES FOR HIGH CLUBS FAILURE RATE,Rushed Decisions Originator of idea is more informed than the other and is in a hurry; Assuming timing is suitable to all parties; No regard for the Persons on-going investment programmes; Originator of idea hardly has other options; Remember Ugandans are NICE people,5,WHY HIGH FAILURES CONT,Forgetting that Clubs are Timeless Equity positions are generally long-term; No explicit agreement on handling exit; No provisions for rewarding of additional efforts/contributions of club members; No agreement how to involve relatives; Remember character sealed when.,6,WHY HIGH FAILURES CONT,Mulwanas Point of View Africans have communal instinct for poverty; If all are poor, tend to work well; Once success comes, greed sets in seek to eliminate your partner; Success amongst partners must remain equal even outside business; Remember: In a club a partner is in the kitchen.,7,WHY HIGH FAILURES CONT,Socially-based Choice of Partners Share(d) school, religion, social joints; Belong to the same tribe, clan, family, social status; Grew up together, an acquaintance; A quote on business and friendships; Remember: Wealth does not know its,8,WHY HIGH FAILURES CONT,Biggest Driver is Capital Contribution Blinds one to other realities; Determination of leadership done informally; Bitterness soon after the reality dawns; Remember: Investment clubs promise economic gains to their members. These call for more than just capital.,9,HOW TO NURTURE LASTING CLUBS,Put Salient Aspects in Writing Date; Contribution, immediate and on-going; Shareholding; Witnesses; Exit Closes; Handling of modifications.,10,NURTURING LASTING CLUBS CONT,Members Should Mirror Each Other on Key Aspects Financial Expectations e.g. cash flow needs and financial discipline; The vision for the club; The common values; and If divergent/conflicting can you cope?,11,NURTURING LASTING CLUBS CONT,Groom Members on 3 Attributes of Team Players: I; I; and M. All others are a welcome bonus.,12,NURTURING LASTING CLUBS CONT,Tap into the Strengths of Members Technical skills; Time; People skills; Contacts; and Capital.,13,NURTURING LASTING CLUBS CONT,Unshakable Commitment Whatever agreed upon, embrace; Deliver beyond expectations; Works when all members have been honest and never over-committed.,14,NURTURING LASTING CLUBS CONT,Work it out: partners are not angels Members are products of their past; Look at each ones positive side; Honour and respect each other; Manage conflicts, they are normal; Be prepared to lose part of your identity; Absorb positive criticism; It is a mutual mentorship; and Limit number of partnerships.,15,NURTURING LASTING CLUBS CONT,Maintain Open Communication Talk about all concerns/aspirations; Listen; value each others opinion; Have time for club members alone; Discuss all members views openly; Pick non-verbal feedback; and Involve third party, but infrequently.,16,NURTURING LASTING CLUBS CONT,Celebrate and Mourn with Each Other Stick with a member at his/her dark times; Pass the ultimate test of true partnership; Talk well about each other to non-partners; Know the limits of courtesy.,17,NURTURING LASTING CLUBS CONT,Watch effect of families, relatives and staff Limit discussing negative aspects of a member with your families/relatives; Beware relatives advice and judgement are difficult to ignore; With staff, toe the official communication channels; Be wary of informalities when bringing in relatives to the business.,18,NURTURING LASTING CLUBS CONT,Walk away from Irreconcilable relationship Let go irredeemable partnership; Reward each other fairly; People are people, they can change; Remember 3Rs when in difficult choices; No name calling, please!; and Keep the lessons.,19,INVESTMENT OPPORTUNITIES,Qualities of a Good Business Idea; 7 Sources of Investment Opportunities; Business Selection Determinants; Investment Options; and The Realities.,20,QUALITIES OF A GOOD BUSINESS IDEA,A good business idea is based on: A Product/Service customers want; A product/service one can sell at a price the customers can afford and still give you a profit; The knowledge and skills you have or can acquire; and The resources and money you possess or can acquire.,21,SOURCES OF BUSINESS OPPORTUNITIES,7 Sources of business opportunities: Ones skills education, work experience; Ones hobbies sport, music, cooking etc Entrepreneurial insight; Peoples needs basic; Peoples problems floods, famine, disease Under-utilized resources - land, equipment Complaints against existing providers.,22,SELECTION DETERMINANTS,Selection depends on a combination of the following factors: Background of Club Members i.e. health, education, work experience, families, hobbies, and environment they grew up from; Proposed location of the business; Investment capital; Raw materials availability; Proximity to a market; and Government policy.,23,INVESTMENT OPTIONS,Deposit/term accounts with banks; Traded Shares; Non-listed shares/own business/JV; Bonds; Venture Capital Projects; Real estate; Precious metals and gems; Mixture of the above.,24,REALITIES,It will be difficult before i