Liabilities cost money, go down in value, and take a lot of work to get them to pay for themselves. Effective leaders have an inspiring vision that motivates their people to make big results happen. A ledger shows the numerous accounts and sub-accounts in which the business records receipts and expenditures - Sales, Salaries, Utilities, Rent, and so on. If you were honest and found areas where you were lacking, please find someone who can help you fix them before you approach anyone to invest.

Get big quietly, so you don?t tip off potential competitors

A good lawyer can help you determine which entity would be best for your particular company and situation. It's easy if you are selling to individual customers, of course. Mention anything of an especially attractive or meritorious nature you may have. They will listen to you more attentively if they feel that the information concerns them.

Fixed overhead expenses for Purchasing

Is a tractor an asset? Your willingness to put in the extra hours when needed and your accompanying willingness to accept more responsibility will bring a smile to the faces of employers. Even arranging and naming computer folders and files by a more universal, rather than idiosyncratic, standard can help future growth occur more naturally. It's hard to make people responsible when they don't have a clear picture of what you want.

Network with current and potential customers

Remember that the price you can get for a product is likely to differ markedly depending on the type of environment you are selling it in. Benefits, not features, ultimately sell products. A glazier, being refused work at a place where a church was being erected, put down his kit of tools, picked up the broken pieces of glass which the workmen had thrown away, and, laboring just as if he had been hired to work, fashioned the finest church window in the world, and became rich and famous. The vast majority of small-business owners we know provide products or services quite similar to what's already in the marketplace and make reasonable but not extraordinary sums of money ' and, thanks largely to the independence that small-business ownership offers, are perfectly happy doing so!

Pricing is as much art as science

Don't be fooled. It is also defined as prosperity and the condition of being rich or happy. This causes them to take on lesser quality products, tougher customers, and work at too low a margin to cover their actual costs. Profit is the #1 indicator of how well YOU run your business.

The path to success is to take massive, determined action.

Economic recessions can also cut both ways. Even if your offering fits the customer s need this time, odds are good that the relationship won t work out over the long haul. The advantages claimed for the system are not merely the increase in product already spoken of and the greatest efficiency of the worker, but also the improvement in his material and moral standards, and the promotion of industrial peace by lessening discontent and friction. The #1 reason customers stop using companies, frequenting businesses, or buying services is because of a perceived attitude of indifference.