To have a profitable business, what you really need are 1,000 true fans. Excellent service is perhaps the most important thing you can add to any product or service today. Strategic allies usually come to you for something specific technology, distribution, complementary customer sets, etc. But finding good customers cannot always be easily delegated.

Do you aggressively reduce bureaucracy and red tape?

Use your profitable business as a stepping stone into other businesses, strategic alliances, joint ventures, and investments, such as real estate, exclusive distribution agreements, rental companies, or any additional services that complement what your company already does. Shoot for a specific return on equity and on your sales efforts, marketing, advertising, customers, services, products, time, and energy. Entrepreneurs know that cash-flow, working capital, profit, and equity are collectively the lifeblood of their future. I believe accountants often give business owners bad advice when they tell their clients to try and make little money or no taxable income to avoid taxes.

Develop your written marketing and sales plan

What difference does it make? It s also important to maintain your credibility because you will probably need additional funding as your company grows. If they don't get the training and tools they need, they won't accept responsibility for the quality and productivity of the work they do and won't grow into productive team players. Notice that I said constructive criticism.

Customer service shortcuts - the easy way

Outsourcing is a key strategy for startups. A financial statement for one period is useful, but static. They are uncertain whether to invest or not. Again, it shows that you are watching the bottom line closely and not hiring people full time for part-time duties.

Show customers you care about their success

They are certainly going to be more concerned about your relationships with your other customers and, possibly, suppliers, than most of your readers. Prior work experience in a related field is something many investors look for. In any economy, good or bad, people want to be treated with respect and are more likely to become part of your team if they see advancement and a corporate culture they can embrace. As businesses begin to grow, they hit challenges and roadblocks, including lack of time, energy, money, people, and customers.

What are you product's characteristics

In fact, customers whose complaints are resolved quickly and satisfactorily often become very loyal: They make larger purchases, become personally attached to the business and its employees, and provide positive word-of-mouth. Inflation is a 'normal' economic state: The value of money gradually decreases, leading to slowly rising prices and salaries. That s especially true if, as part of examining your goals and objectives, you envision very rapid growth. The element of truth in the first theory is that wages can never, for any length of time, fall below the cost of subsistence.