For example, Wal-Mart and Costco strive to sell for the lowest price. Similarly, a sandwich shop located midway between a trade school and public transit station may get much more traffic than one located very close to one anchor but in the opposite direction from the other anchor. When this happens, your final prices will creep up over time, reducing your profits and increasing your final sales price. Dealing with it may be as simple as merely including a statement to the effect that you foresee no significant liability issues arising from your sale of this product or service.

If you spend too much time thinking about something, you'll never get it done

You don t want to create confusion in your consumer s mind. Proactive operational systems are repeatable, standardized, written organizational methods, procedures, and guidelines. They want to make at least double the industry average. Your goal should be to get the right people to purchase your product, rather than just selling as many of your products as possible.

If your group isn't representative, your results may be misleading

Set financial controls. Within the low cost and high profitability models, there is one big winner: online courses. These are the qualities that proprietors are yearning for--nay, actually groaning for, but which are hard to find in the average man. You don t want to take forever to prepare a business plan, but using some of the business plan software programs can make it so easy that you find yourself letting the programs do more of the work.

Describe the whole industry in which you operate and point to your position in that universe

The good news is you are in a great position, because in order to get this right you really need to put the right structure in place at the start before you have got going. Some grow to eight employees at one location. Relationships and interconnectedness evolve positively or negatively over time. Cultures vary widely; in some, executives are aloof while in others they are more accessible.

A lazy person's guide to Customer Service

If the plan s summary describes a need for $40,000 in financing, but the cash flow projection shows $50,000 in financing coming in during the first year, you might think, Oops! Do whatever it takes. Does a business owner getting sued by an irate customer or employee want the cheapest lawyer or a positive outcome with the least amount of grief? When you have a fortune, you can share it and give back to others.

Grow without additional problems in Human Resource Management

When a small business expands, one frequently finds that a new layer of management is needed when it grows larger than six to eight people. Trust is built during face-to-face relationship-building sessions. Umbrellas are a better choice than hot tubs. Without written and tested systems in place, delegating operational tasks is impossible, even with great people.