Soaking the Rich

Procuring and maintaining adequate capital is crucial for businesses. Bonds do not represent ownership, but are used by corporations and governments to borrow money. It s also why you ve spent time defining the profile (avatar) of this niche. Human capital consists of talents, skills, and knowledge residing among employees …

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How to something your sales

You can, however, use your research, sales forecasts, market trends, and competitive analysis to make well thought-out predictions of how you see your business developing if you are able to follow a specified course. You can choose where to live in your home town or elsewhere and you have the …

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Ask non-customers why they don?t buy from you

Also, because most retail businesses deal primarily with cash or near- cash equivalents (credit cards), funding requirements for accounts receivable are relatively low compared with some of the other business categories, which means, in turn, that the capital requirements for entry can be comparatively low, depending on how much inventory …

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Investors want profit

In addition, your car, equipment, fixtures, and company vehicles are liabilities and not assets because they don't create positive cash-flow, and actually cost money to maintain. Invite them to ball games or hunting trips with you. A mission statement is a sentence or two describing the company s function, market …

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Pursue Growth and Learning

Get out there and patent it, market it, and sell it before someone comes along and steals your thunder. Identify your entire customer target marketing list, including current loyal customers who always use your company, repeat customers who have frequented your company over the last three to five years, new …

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Customer service standards

After your spouse has filed for divorce or your kids have become strangers to you, the damage too often is done. A large enterprise would simply hire a few more modestly paid customer service reps, credit department staff members, or bookkeepers to handle the added orders, invoices, and the like …

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Most entrepreneurs are highly expert

Effective leaders spend only 25 percent of their time doing work and the other 75 percent leading people, working with customers, seeking better business opportunities, and looking for innovative solutions. When the economy is going well, however, you will have to up the ante to bring on key employees because …

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You may update your plan annually

This amazing talent pool is at your disposal. Many, many businesses never make it past the planning stage because their would-be founders, as part of a logical and coherent planning process, test their assumptions and find them wanting. Attempts by a single company to exercise control over wide areas of …

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Promotions need to stay fresh

There are reasons people want to work for your company. Your plan should take notice, however briefly, of the fact that you have received or applied for any necessary licenses and certificates. If you are looking for millions of dollars in seed capital to start a risky venture, you will …

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Data beats emotions

For these readers, you ll want to give extra attention to balance sheets and cash-flow statements. Sometimes the cash-flow gap is very large. Also, the construction of additional hotel rooms may be called for, causing mortgage payments to increase to a new fixed level. If your marketing program has done …

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Provide clear expectations

Yet, measuring value is important for orienting managers behaviours, and it affects the solutions implemented in business relationships on which value creation and appropriation depend. Sometimes the government really does want to help. Every month or quarter, provide a half-day training session to cover topics in a more in-depth way …

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Show how you accomplish big tasks

Get rid of all the equipment that actually costs you more money to own than you'll get back from your production or operation. When you spend most of your time focused on the work, you forget about what it takes to grow your business. And not one of the family …

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Proposal checklist for developments in Operations

Management performs several different types of activities, such as planning, assessing risk, estimating resources, organizing work, assigning tasks, directing activities, monitoring, tracking, reporting progress, and analyzing results. Determine the tone you will use in your communication based on the nature of your business and on your own personality, and be …

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