Company gross profit

In other words, what the company is worth if the company is closed, all the equipment and fixtures are sold, all the bills and debts are paid, and every amount it is due is collected. When your direct costs increase you're in trouble, because your only choice is more sales …

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Failures don?t plan to fail; they fail to plan

In push strategies, manufacturers promote their product to intermediaries by offering, for example, free in-store promotional displays and price discounts, in an effort to get them to carry and promote their product to consumers. Expect the business plan to be a living document that improves with every tough question asked …

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Cannibalize your own sales

And you ll need one of these to spell out the conditions of your partnership, no matter how well you and your prospective partner know, understand, and trust one another. Get started small. Regardless of how clear we are in verbal communications, misunderstandings occur. A lot of people sell accounting …

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Stay in touch with customers

This is why, as a first-time entrepreneur with limited funds, you should always avoid being the first into a market. No man with common ability and industry who puts the half or even the quarter of these ideas into practice can possibly fail. Be organised ' keep all your business papers …

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High rates of return

Liquidity ratios compare short-term assets to short-term liabilities. Often, one has to be in action in order to know the right thing to do. Because free isn't really free, a giveaway must help a business sell its core item. Profit is the company owner's reward for taking business risk.

The …

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Remember less is more

It's simple when you have no overhead, no employees, only one project, and only one customer. Although having the latest and best is appealing, it is sometimes, or even often, better to push old technology to its limits than to feel obligated to invest in the new. Some boards'both non- …

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Are your equipment rates accurate?

It is related of a Yankee book-peddler that he sold three copies of the same book to a family in one day--to the husband in the store, to the wife who was calling at a neighbor's, and to the daughter at home. That makes it more of a challenge when …

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A lazy person's guide to Strategy

They are usually short term and are easily measurable. Research on skills and capabilities to cope in an interactive context has been rather limited and a systematic framework is yet to be developed. Now you can develop a marketing program and determine how you'll attack your target customer list. They …

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Reinforce customer relationships

Consider what you can offer to your customers, vendors, subcontractors, or competitors. The same is true of the availability of funds. 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 …

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There are no secrets to success

These companies with larger customer bases still must sort through their entire customer list to determine who their important customers are and who makes up the majority of their sales volume. Luckily, one of the most valuable uses of a business plan is to help you decide whether the venture …

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Create a Customer Contact Tracking Chart

However, venture capitalists will back seedlings if the idea is strong enough and the prospects promising enough. If you find that managing the day-to-day headaches of a small business isn't for you, perhaps a viable alternative would be to consider investing in someone else's small business ' assuming that you have …

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Anything less is too speculative

But when you are perceived by customers as really being the best at something, you will attract customers who want what your company offers, and then you can charge a premium. The glut of tens of thousands of new products introduced annually, combined with the existing plethora of more than …

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