In a long tail model, a business does the opposite: It sells a very wide range of items, each in comparatively small amounts, to a large customer base, often over a very wide geographic area. The #1 reason entrepreneurs go into business is freedom. You ll learn to speak your customers language, and you will be able to communicate with them more effectively. Customers stay where they feel appreciated and cared for.
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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. Also, in
a large, highly
layered organization, command decisions by upper management may seem irrelevant to lower-level employees. Hard work
thought are the hands that carve it out. The developer
or managing partner
should get a working or promotional interest in the project or business venture from 10 to 50 percent based on the complexity, risk, and potential.
No ideas to differentiate your Purchasing Department?
of an especially
attractive or meritorious nature you may have. Events in
the stock markets
can kill your opportunity if your idea falls from favor in financial circles. When we
did this, I
found a few charges that didn't even end up on our jobs, like patio cover lumber, house re-paints, extra carpeting, fireplaces, a Jacuzzi, and a trip to Hawaii! They concentrate
on the big
picture and what will help their company grow.
If you want to be a leader, you?ve got to be a reader
big dial two
feet or more in diameter in some prominent part of your store, and announce that when a customer has traded an amount equal to the total figures on the dial you will present him with a watch. If you
can offer overnight
shipping, on-site service, or 24/7 availability, it can turn an otherwise unremarkable product or service into a very attractive one. By creating
and following a
plan, the manager can assign tasks and hold people accountable. Does earning
a living give
you time to do any living?
What do you do to help customers?
must advance with
the times. If you
have investors who
want to sell the company someday, you may need a plan with a big number in the field for shareholders equity on the projected balance sheet. Every day
you can arrange
at least one or two meetings with potential and current customers from your target list. You must
provide the motivation'this
will get people to work with more energy, more effort, and more enthusiasm, and allow them to fulfill their potential, accept responsibility, and become accountable.
Is Quality the main function of your business?
creates a net
income every month, without much effort or work. If, for
example, you are
in the fashion, food, or design industry or you are creating a new product, your visual image will certainly be worth a thousand words. The justification
lies in the fact that men prefer present goods to future goods--a bird in the hand is worth two in the bush--and interest is the difference in value between the two at the present moment; it is time value. Venture capitalists
are not as
likely to provide seed money as some other, less tough-minded financing sources, such as family investors.