And when they're done, they just get another ditch to dig. Modest inflation can help spur economic activity, as the threat of higher prices tomorrow may encourage the making of purchases and investments today. Variations on the triangle include Quality-Price-Service (a given product sold at a lower price will likely be accompanied by poorer customer service) and Quality-Time-Control (to get a high quality project completed quickly, one will have to yield control of most of the decision making to the person doing the work). Other elements of positioning include the product itself, the communication surrounding its promotion, and the way it s delivered to the market.
Fast-Track Your Investors
entrepreneur can pay
you for the opportunity to expose his/her brand to your audience. But there
are downsides to
starting a business in booming economies, including the fact that unemployment is usually low (which means good employees are hard to find). A manager
may use all
three styles, switching from one to another depending on the situation. Six different
excellent and experienced
people will still do things six different ways.
The harder you work, the more luck you have
Triangle suggests that
if one wants high quality work (side one) performed quickly (a second side), she will have to cede control of the third side and pay a higher price. Subcontractors also
tend to round
up small extras. When did
you last take
time to sit down with each of your employees and thank them for a job well done? In other
cases, you may
not know when you bring someone on board what the future holds, but you believe she has what it takes to become a key employee.
The party that cares less about the outcome of a negotiation is in the stronger negotiating position
name for your
store such as will easily fit everybody's mouth. Maybe your
firm is too
busy to train because you expect people to learn in a vacuum, or by the trial-and-error method, or from their previous boss at their last company. Do your
employees sit and
wait for their boss to make simple decisions for them? Does the
economy even matter?
No ideas to differentiate your Distribution Department?
excellent business is
even tougher. It s
advisable NOT to
put your home up for collateral it s simply too big a risk. Wealth creation
can be an
outcome of a financially successful business that generates a positive cash-flow and increasing profits. Designate a
separate part of
the house as your office ' a spare room or warm garage is ideal if you have one, a corner of another room if not ' set up a desk and commandeer the family laptop and the telephone landline.
Maximize operational efficiency through Research and Development
trying to be
the best at everything, which doesn't work. In order
to market your
company's value effectively, you have to start with a target list of customers who are the most likely to need what you have to sell. Don t
you have it:
the latest and deepest thinking from a sample of professional investors.