Monitoring the Performance of Your Business

You have to highlight your product s most compelling characteristics, such as low cost or uniquely high quality, that will make it stand out in the marketplace and attract buyers willing to pay your price. Is your business moving toward giving you what you wanted when you started your entrepreneurial …

more ...


Go ahead and make mistakes

A higher price is usually associated with higher quality, and is seen as more exclusive. Step out largely and conspicuously. And in each of these two houses I was told that 'of course, if the right sort of a young man came along who could tell us something about our …

more ...


Costs come in all varieties

Most boards will have financial, marketing, and organizational experts. You hire people because you can't do all the work yourself. Just as your car won't run without fuel, you can't sustain a roof over your head and provide food, clothing, and the rest of life's necessities if you can't pay …

more ...




Governance on a budget

When you increase overhead by renting a bigger office or shop, or hiring a new salesperson, manager, or bookkeeper, your choices are simple: raise markup or increase sales volume. When you re writing a business plan to raise money, you may want to consider venture capitalists and their unique needs …

more ...

Cover just the major areas

Owners of buildings must have their elevators inspected regularly and, in some cities, post the safety inspection record in public. Adobe gives away its Reader software but charges for its Acrobat program that makes screen readable documents. Profit allows you to invest in people, systems, equipment, training, customer service, marketing …

more ...





You may be truly innovative

. Decide what ten proactive operational systems are needed in each of your company's departments. Start a weekly award for the employee or production team player who saves the most money, does something excellent, has the best attitude, makes the best decision, or goes the extra mile for the customer. When …

more ...


Competitive factors or competition

However, venture capitalists will back seedlings if the idea is strong enough and the prospects promising enough. An exchange medium'minerals, spices, cash, or something else'has typically been used to attach value to items being exchanged. Businesses that are recognized as the best in their markets continually take care of their …

more ...


Customer Service on a shoestring

If you are starting out without much money, choose something which is relatively low-cost per unit ' first because buying stock will cost you less, and second because in a tough economic climate people are reluctant to shell out for high-ticket items, at least not without carefully thinking about it first …

more ...







Ongoing employee training

Unless the work you do is very highly paid and you don t need to work too many hours to generate sufficient income, you might not achieve the lifestyle freedom you re aiming for. Risk homeostasis theory says that people have an innate sense of the level of risk they …

more ...





Managing Human Resource Management

Have a name for your store such as will easily fit everybody's mouth. Finally, the effects of what a manager does on the business landscape will not depend on his own actions or approaches alone, but form an integral part of a sequence of multiple, related, incremental actions and outcomes …

more ...



5 guilt free Business tips

Therefore, actors would benefit from striking flexible deals, which are renegotiable when situations of clearly unbalanced distribution of costs and revenues among the involved actors appear. Frequency is the most important factor in building customer relationships. If you are answering letters for the firm, answer them briefly but completely. Determining …

more ...




Are You Too Busy to Train?

As a business owner, where do you invest the majority of your time? Yes, the first step is often the hardest. What could you do to reinforce your customer relationships? Give out small prizes like gift certificates to lunch or dinner, tickets to ball games, t-shirts, tools, or happy face …

more ...