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.