No matter how wonderful a product may appear, nothing will please everyone

BUT, are you making enough money on your equipment to make it worth your while? You are already paying to live in it anyway in the form of rent or mortgage, heating and lighting, so it makes sense to take advantage of that. In the event of bankruptcy, a court appointed trustee sells the assets and uses the proceeds to repay the bond holders. However, if the new product is too different from existing products sold under the same name'for example, motorcycle manufacturer Harley Davidson's introduction of a wine cooler in the 1970s - confusion can result in the marketplace, and the overall brand image may be at least temporarily tarnished.

Profitable, fast growing companies can be chronically short of cash

The easiest and most important thing you must do is to create trusting relationships with your top customers who make you most of your money and pay your bills. In a negative feedback loop, the system responds in the opposite direction of a stimulus, thereby providing overall stability or equilibrium. This adds up to lots of money wasted by project managers who don't want to play hardball. Make it a priority to seek wealth-building opportunities.

Don?t spend money on Marketing before you?ve made it

Trust is built over a long period of time. 2Build trust by contacting customers over and over again. When production systems are installed and used effectively, monthly evaluation meetings become a simple matter of checking what has been done properly and what needs attention. It s also why you ve spent time defining the profile (avatar) of this niche.

Celebrate and reward success

Management is its own area of expertise, distinct in many ways from the activity being managed. Business interaction is based on the physical resources and activities of interacting companies. To get the results you want, you must get everyone on the same page. A person with a great resume, treated poorly by management, is no longer very motivated and likely NOT to be a good person. Conversely a bad person, based on what you have on paper, may, with some training, trust, and fair treatment, turn out to be a very good hire.

Address a brand-new market where no competition exists

Placing ads in newspapers or magazines is expensive for businesses serving their local markets. The more you do for your customer, the more business you'll do with your customer over time. No matter how brilliantly crafted, written, and presented your business plan is, it will be difficult to win your investors, and later customers, with an old idea that does NOT have a new twist. For every customer inquiry, ask where they heard about your company.