For example, a newsstand, dry-cleaning establishment, or coffee shop sited modestly between a car park and commuter ferry may be in a better location than one with its own destination parking lot, because of the morning and evening foot traffic between the two anchors. Love your passion, but know your business. But you should have an ideal trade toward which you steadily work. The service industry is the fastest growing of the four categories, in part due to the low cost of entry (that is, you typically need no significant inventory outlays and minimal equipment).

Get major exposure at minimal cost

This process should be taken very seriously, because it can have a tremendous impact on the overall success of your business. If chewing gum, for example, were not sold through intermediaries, a manufacturer would have to sell gum to each person who wanted it'an impossible task! For this reason, you want your accountant, financial advisor, or attorney to review your loan documents and spell out everything for you very carefully. Technically, the officers of a corporation report to the board of directors, who bear the ultimate responsibility for the proper management of the company.

Stay in touch with customers

Although considered undesirable in some bedroom communities, business development is more cost effective for municipalities than a comparable level of residential development. Those include everything from a solid explanation of why you need the money and what you re going to use it for to details about any other borrowing or leasing deals you ve entered into. Whose lifestyle are you paying for? The bulk of any extra business went straight to the bottom line, showing up as profit improvement.

Train your sales staff so that they will act as a powerful resource for your company

Saying things a bit differently the second time often helps uncover misunderstandings. You may be sure that your employer knows the market value of politeness. Consumers in the large middle market are often attracted to average quality products at decent prices. Does the economy even matter?

Is Distribution the main function of your business?

Suppose the stroke oar on a varsity crew, while in a race against an opposing crew from a competitive institution, should suddenly stop rowing in harmony with his associates and begin to row backwards-that crew would not get very far without trouble. Put the highest priority items at the top. The staff doesn't participate in activities or provide input, and therefore doesn't learn how to implement the new skills being taught. Such a board lends great credibility to a company.

Talk to salespeople who are in touch with customer needs

And when you need more products or materials in a hurry, you revert to calling your good old friend at the same supplier or distributor, getting it shipped out without taking time to get another price quote from a different supplier. This will show you care and get them to call, refer, or buy from you when the need arises. There are some generally accepted conventions about what a full-blown business plan should include and how it should be presented. One way to lead is to offer the best price, service, or quality.