It's back to the beginning'find new and potential customers to target. But it doesn't have to be that way, and the advent of direct debit and the ability to take payment online and over the phone has made it much easier for small firms to take payment immediately. Many of the most successful businesses are financed by banks, which can provide small to moderate amounts of capital at market costs. If men do not solve the puzzle, they will remember what is stamped on it.

Take time to explain the big picture

Why do bankers seek collateral? Is your company operating at full capacity, but missing a few parts and held together with duct tape? This is actually a part of speaking directly to the interests of your audience, the investor. Profit is the company owner's reward for taking business risk.

Show your people exactly the results you want

Dust off your plaques and trot out your calculator for this one. Employees are too often hired based on what you hope they can do, regardless of their r??sum??s. This isn t to say that a down economy means you can t start a business. For example, the cost of a material purchased at retail has embedded in it the costs of all previous labor, profit, licenses, transportation, tariffs, etc., that helped bring it to the point of sale.

There?s no abiding success without commitment

Seek advice. Most boards will have financial, marketing, and organizational experts. Hence, a negative consequence is that, while aiming to reduce uncertainty, business deals can introduce rigidity due to their time-boundedness and the inherent limitations of contracts in capturing the complex and emergent outcomes of resource combinations in networks. Perhaps you want to mull over the chances of a major expansion.

An Authoratitive Guide to Research and Development

Your job is to maximize profits, seek profitable customers, and build your business. Management is its own area of expertise, distinct in many ways from the activity being managed. In smaller companies, bring in a college marketing student to help you for a few days every month. Love your passion, but know your business.

Get some solid hints about the future beyond tomorrow

Emphasize a cogent, succinct summary and explanation of the basic business concept, and do not stint on the details about the impressive backgrounds of your management team. Some people create amazing businesses by filling gaps people never knew they had in their lives. It can also help if your product is more specific. Sometimes you will find an established individual, like a highly acclimated chef for your restaurant or an art director with years of experience for your company.