Some of these resources may be adapted to meet the requirements of particular counterparts but others will have wider relevance. Will you command a rapidly growing empire? On the other hand, if you are proposing a new kind of business or even a new industry, it may require quite a bit of explanation to get the message across. Are you too busy to take your best customers to lunch on a regular basis so you can create quality relationships with them?
Detail things that are critical to operations
important tasks that
must be done promptly, unimportant tasks that must be done promptly, important tasks with no particular rush, and unimportant tasks with no particular rush; and sometimes there are things that seem crucial but may not need doing at all. Some of
the richest people
in the world made their money buying Microsoft stock when it was only $10 per share, and then sat back and waited for it to grow in value. Your job
is to maximize
profits, seek profitable customers, and build your business. This is
one of the
secrets to building a personal fortune.
Offer training on Saturdays
everything else is
irrelevant. Operating ratios
measure efficiencies in
day-to-day activities, e.g., the ratio of the cost of goods sold to sales, or net profit to gross profit. A priority
of every business
owner should be to grow the net worth of his or her company. Equity is
the value of
a business, investment, or property net of all amounts owed against it (payables, mortgages, liens, loans or claims).
Learn an organization?s culture before working with or for it
to get your
invoicing procedure right. The main
the system, since it is economic and not philanthropic in its nature, must of course be the increase in production brought about by its adoption. Business is
always changing and
continually needs improvement as you grow, change your product mix, improve your service, find new projects, seek new customers, and hire more people to do the work. Stay alert.
Picking up a set of specifications for Quality
bank loans are
two sources of debt capital. The business
landscape consists of
a rich assortment of physical, financial, human and other immaterial resources. Maybe you
were held back
by the fear of putting yourself or your family at risk.
Potential roadblocks identified
romanticizing of earlier
societies in which money is imagined to have been unimportant or nonexistent, historians have found little evidence that any society has based its business enterprise primarily on barter. The customer
calls and asks
you to revise your proposal to include more items. In these
hard times customers
not only do not expect ostentation, they do not want it. By replacing
yourself with operational
production systems, you'll have time to buy your own building, seek better customers, look for profitable accounts, find better people, and seek strategic business opportunities.