What is our sales strategy?

Start a training ladder to track your employees' progress. A recent business plan for a chain of coffee shops, for example, included photos of the proposed location, mock-ups of menus, and maps of the competition s locations. Financial ratios reveal a company's performance over time (longitudinal analysis) or in comparison …

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Listen respectfully to the very best advice

Remember that his profound belief in you--belief in you when out of business hours as well as in--is your surest stepping-stone to promotion. Even the most modest new data on a market, client, or technology, when probed seriously, can provoke expansive new insights that point toward a more informed decision …

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Every product has a life cycle

If you are just going to use your plan for internal purposes to manage an ongoing business, a much more abbreviated version may suffice. Consequently, a business that is profitable may be short of cash until payment is received. That s true no matter what you intend to use your …

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Human Resource Management on a shoestring

Various policy measures have been conceived and generously funded based on market models. But there are downsides to starting a business in booming economies, including the fact that unemployment is usually low (which means good employees are hard to find). Depending on your industry and the software you are using …

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Read a wide variety of periodicals

The #1 reason customers stop using companies, frequenting businesses, or buying services is because of a perceived attitude of indifference. Changing conditions are the order of the day, for enlightenment has worked wonders. Successful men in several lines of business assert that they owe much of their good fortune to …

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Why your company?

Of course, you don t have to use specific business plan software to write your plan. Employers are keeping the sharpest kind of a watch for the right man. It should point readers with questions requiring detailed responses to the full-length sections of your plan where they can get answers …

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Remember less is more

You need accurate reports of what each part of your company's production costs are. Freedom to say no to bad customers, jobs, employees, or contracts. Subcontractors also tend to round up small extras. What expertise, skills, or talent do you have that can add value to a venture?

Workers in …

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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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