Nobody wants to wait for anything anymore. Seed money is usually a relatively small amount of cash, up to $250,000 or so, that is used to prove a business concept has merit. All businesses have similar concerns and responsibilities, including marketing, research, development, purchasing, production, management, accounting, human resources, and customer service. First, financial, to make sure this business makes economic sense.
You know what your customers perceive to be value-added
business in your brain. It seems
sensible to plan
to put up as collateral the exact item you re borrowing money to buy. 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. A small
software company whose
mission statement included the goal of putting Microsoft out of business would be looked upon as foolishly naive.
Giving customers the lowest or discounted price to get them to buy
the latest and
best is appealing, it is sometimes, or even often, better to push old technology to its limits than to feel obligated to invest in the new. But even
if it should,
the savings thus effected might be swept away by the poor business management of the employer. If you
come across as
an overblown pretender, you can bet your plan will get short shrift. Without any
wealth, I couldn't
have invested or taken the opportunity to triple or quadruple my money.
Should Human Resource Management Be Your Primary Focus?
to hold large
stocks of products is a big problem for any start-up because that requires a lot of money not only to buy the products, but also to store them, to transport them, to distribute them and even to insure them. In most
cases, you want
to have products and services that people can get quickly. As an
entrepreneur seeking a
bank loan, or any type of funding for that matter, you ll want to make sure you have everything in place, including all of your financial documentation as well as your credit history. Tell people
pleasantly that you
are a new bidder for their patronage.
Is Customer Service your company's main focus?
is the initial
capital required to transform a business from an idea into an enterprise. Finally, the
effects of what
a manager does on the business landscape will not depend on his own actions or approaches alone, but form an integral part of a sequence of multiple, related, incremental actions and outcomes. Your attorney,
your accountant, and
your insurance broker are all crucial members of your team. If you
have something to
offer that is not on the market, this is a major selling point or competitive edge.
Nobody wants old news or information.
measure the financial
risk in an organization by comparing debt to equity or debt to assets. Financial success
allows you to
enjoy and design your life to do and get what you want. Remember, if
a supplier is
selling to you on credit letting you take delivery of goods and pay for them later that supplier is, in effect, your lender. Sometimes that
might mean thinking
a bit creatively.