The small-business arena is one of those areas where the government has made strides in doing something helpful. Customers will pay a higher or lower price based on THEIR perception of your company's service or product's value. What specific targets and numbers can you shoot for to realize your vision and get the results you want? Start a weekly award for the employee or production team player who saves the most money, does something excellent, has the best attitude, makes the best decision, or goes the extra mile for the customer.

Hoping your past customers give you a referral

Do not trust the work to your friend, relative, or clerk. This is your cost of goods sold, or direct costs. When you know your costs, you will manage better and make more profit. All issues regarding employees typically require a lawyer s involvement to avoid the specific liabilities that your company may face.

Figure out project close-out requirements for Operations

Another type of win-win you can seek is joint ventures and strategic alliances with your customers, suppliers, and vendors. There are some generally accepted conventions about what a full-blown business plan should include and how it should be presented. And each type of reader does have certain typical interests. The old saying about bankers lending only to people who don t need to borrow is almost true.

Don't wind up with a technical treatise in which the essential marketing element seems lost

However, if you're starting a business that specifically uses your skills and expertise, the risk may not be nearly as great as you think. Small service firms such as local web-design companies or carpet cleaners frequently operate on a cash basis, getting paid with cash, check, or credit card at the time they perform their services after making only small outlays for supplies in advance. To find a competent attorney for your company, seek referrals from other business managers. If you spend all your marketing money on uniforms for your employees, keeping your facility spick and span, and doing excellent work, you may not achieve your marketing goal (more revenue at a higher price).

Pricing can be a race to the bottom

The explanation is that it depends on your market and what its buyers want. Put another way, if you choose the wrong business, you re going nowhere. You are investing lots of cash aimed at lots of people who don't need or want what you sell. 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.

Product knowledge alone is useless

Watch for opportunities. Hit off some social craze, or give a witty representation of some matter of passing interest. These ideas can be created quickly, with little expense. Do you tell your people what to do and then say: 'Before you do that, check with me first'?