In this information era, there is no need to guess. There may be a big difference in what you have to give up, such as majority ownership or control, to get the funds. But that is the only way you will be able to build up enough cash reserves to be able to invest in new equipment, or new premises, and so move the venture on from a hand-to-mouth existence to one which can really invest in its own future. Your goal is to generate the highest return on your marketing money.
Be the Best in the Business at Accounting
You
make sales after
you have built connections and trust. Will
you have already
cashed out and be relaxing on a beach somewhere, enjoying your hard-won gains? Leading
and getting results
starts with communicating your vision, along with specific targets you expect. The
feelings of arm
s-length investors may not be so important, but if you mislead them in your plan, you may open yourself up to accusation of misrepresentation.
Get in-house market research data from your own files
Also
the maturity or
recognition of the PSM function within the organisation matters. And
if you make
only small changes here and there, it may seem all right. As
you work on
your communication problem (yes, if someone doesn't understand what you want, it is YOUR problem, not theirs), and what you want done becomes clear, people will want to take on more responsibility and do more work. This
reliance on good
people instead of good company procedures and systems caused lots of field problems, unpredictable quality, late projects, unhappy customers, and lost profits.
Clear, inspiring vision, mission, and purpose
Don't
expect others to
understand your passion for customers, or quality work, or the need to make a profit. Few
things are more
comforting to an investor than the knowledge that this investment s disbursement will be monitored regularly and carefully by an expert. If
you start just
one company, or even if you never start a company at all, you should be constantly honing your business-planning skills by updating your business plan. Most
entrepreneurs start their
companies without a clear vision of what they want or a written business plan specifying their targets and goals, a management team, enough capital, leadership skills, or knowledge of how to run a profitable business.
Select the promotions that will work best for you
For
instance, you might
think that horse-shoers are an endangered breed in the automobile era. We
know many successful
small-business owners who work at their craft 40 hours a week or less and some who work part-time at their business in addition to holding a regular job. Wages
are the reward
of labor. They
feel they have
to make every decision, big and small, and hold tight to the controls like a joystick in a video game.
As the owner, you have to juggle dozens of details
Subcontractors
also tend to
round up small extras. Piquing
customers' interest is
fun and gets lots of attention. Yes,
the first step
is often the hardest. What
sales team, distribution
channels, customer base, contacts, or locations does your company have that would add value to another company, product, or service?