Then you ll want to emphasize such things as stock options and other aspects of compensation, as well as location, work environment, corporate culture, and opportunities for growth and advancement. In any economy, good or bad, people want to be treated with respect and are more likely to become part of your team if they see advancement and a corporate culture they can embrace. Remember, the goal of contacting your customers is to get them to call you. Contrast that with a professional-services firm, such as a management consultant.

A mission or vision statement that is impossible to disagree with might not be saying much of significance

Also list any potential or customer targets you want to go after in the next few years. Make your own luck. Then they're put into jobs without proper indoctrination and with little training, and they're left alone to learn on the job without feedback or coaching. The business is run by the systems'not the owner.

Do you have sufficient cash flow to repay principal and interest?

But you must protect your enterprise. You need to choose your visual identity carefully, because it s not something you will change much over time. If you subcontract some of your work, review your subcontractors and look at what they are charging. The bottom line: The best time to start a business is when the timing is right for you and your niche.

Don?t spend money on Research and Development before you?ve made it

They figure that if they do a good job, provide a reasonable service, or turn out good products, they'll get lots of customers. It will help you decide which projects to take on, which collaborators to work with, and which future employees to hire, because all these decisions should be made in alignment with your core values. And it s one you can use even if you didn t happen to be born with a silver spoon in your mouth or an oil well in your backyard. You start here, today, with certain resources and abilities.

You want differ from that of the last entrepreneur in your field

Additionally, falling prices usually mean falling profits, making it more difficult for a business to meet existing debt obligations. Make a decision to do more than work on your business. The other entrepreneur can pay you for the opportunity to expose his/her brand to your audience. It should point readers with questions requiring detailed responses to the full-length sections of your plan where they can get answers.

A lazy person's guide to Research and Development

Inquire about members of their family. Hit off some social craze, or give a witty representation of some matter of passing interest. For example, Wal-Mart and Costco strive to sell for the lowest price. Building trusted relationships with customers is another excellent way to give them what they want.