But that may not be why they walk through the front door of a store; and without a compelling reason to visit a store many people will shop online. That means you don t have to pay out hard-to-get cash in the form of interest and principal installments. You're probably an expert on what doesn't work: confusion, threats, lack of trust, bribes, no rules, no rewards, no praise or recognition, no direction, and lack of accountability. You make sales after you have built connections and trust.

Put your product where people can buy it

The most important part of a plan intended for management consumption is probably in the financials. Track it every month to make sure your actual expenses do not exceed your overhead budget. Protections against product substitutes include strong brand identity, patents, and deliberately incompatible standards, such as the Apple versus PC computer operating systems. If, on the other hand, a look at your business plan reveals that your companies share the same kind of strategies and have similar objectives in type if not scope, it s an encouraging sign.The spread of the open-book management theory means a lot more employees are seeing their companies business plans than ever before.

It?s easy to talk eloquently about a product you believe in

As the leader, you are 100 percent responsible for everything: sales, profits, growth, quality, customer service, organization, people, and management. Yes, it will probably cost a bit more per unit ' suppliers generally give discounts for larger quantities so initially your unit cost will be higher ' but it will also mean you can keep your money requirements really small. To some extent, you can create your future rather than simply trying to predict it by the decisions you make. Similarly, a sandwich shop located midway between a trade school and public transit station may get much more traffic than one located very close to one anchor but in the opposite direction from the other anchor.

A lazy person's guide to Design

Rather than spending all of your marketing money taking out ads or sending out brochures and flyers that say HIRE US! This requires that some accounting entries, such as bad debts, be estimated until final data becomes available. But any amount is better than none! You take out a loan and pay it back, perhaps in installments consisting of principal and interest, perhaps in payments of interest only, followed by a balloon payment of the principal.

Taking care of your Research and Development team

Track them. Marriage or family counseling with an experienced counselor can be an invaluable preventive investment. Most realistically, a successful exit comes from acquisition, not an IPO. Remember, time is of the essence to venture capitalists and other investors.

What Makes You Better?

Plastic, for example, is a common product or ingredient substitute for, and thereby provides competition to, metal, glass, ceramics, and other materials. For example, a hotel pays the same salary to a desk clerk whether one or ten guests register in an evening. Angel investors used to be a difficult group to find. Profit is the sum remaining after all costs, direct and indirect, are deducted from the income of your business.