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

The other 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

The Quality-Time-Cost 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

Have a 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?

Building an 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

They are 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 brag. Well, there you have it: the latest and deepest thinking from a sample of professional investors.