Setting clear targets and goals

Have your short elevator pitch (discussed at the end of the book) ready, and demonstrate the enthusiasm you have for your new business. You determine the scope of what your customer requires, calculate what it will take to produce the finished product or service, secure vendor and supplier pricing, prepare …

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Develop customer surveys

This is actually a part of speaking directly to the interests of your audience, the investor. To master an infinite number of small things is to prepare yourself to master great things. This is not to say that a walk-away strategy is the best in every circumstance or over the …

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Taking care of your Quality team

Basically, you are using a service instead of your own employee(s) to do a specific task. Retailers of auto parts, home improvement supplies, and all sorts of other goods have found that simply having knowledgeable salespeople who know how to replace the water pump in a 95 Chevy will …

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Is Research and Development your company's main focus?

It may be earmarked for producing working prototypes, doing market research, or otherwise testing the waters before committing to a full-scale endeavor. If you are starting a business without any money, it is obviously going to be a lot easier starting a service-based venture than a product-based one because a …

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Employees need to understand the big picture

Plastic, for example, is a common product or ingredient substitute for, and thereby provides competition to, metal, glass, ceramics, and other materials. Often, the solution is very different from the one the customer assumed. Their purpose is to achieve company goals and optimize time, energy, money, people, equipment, and materials …

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A lazy person's guide to Research and Development

Then you ll want to emphasize such things as stock options and other aspects of compensation, as well as location, work environment, corporate culture, and opportunities for growth and advancement. In any economy, good or bad, people want to be treated with respect and are more likely to become part …

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The Ultimate Guide To Finance

Suppose the stroke oar on a varsity crew, while in a race against an opposing crew from a competitive institution, should suddenly stop rowing in harmony with his associates and begin to row backwards-that crew would not get very far without trouble. The more information you can gather, the better …

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What do you do to help customers?

Don't give up. Many companies'such as business-to-business service providers, consultants, contractors, printers, wholesale distributors, and insurance agents'have less than twenty major customers who make up the majority of their business. Added to this are the huge number of qualified graduates coming out of colleges and universities who would normally have …

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Write it once

They want you to help them solve their problems. For example, if your marketing plan calls for a half-page Yellow Pages advertisement plus an ongoing monthly outbound direct-mail campaign, keep track of the return you get for the dollars you invest in this marketing. You ll usually be able to …

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Verify Insurance Requirements for Operations

Once sales have reached the $500,000 per month level, approximately six months after startup, a dedicated vice president of marketing will be retained to fulfill that function. In some cases, particularly if you re in a really shaky startup and you need solid talent, you may have to describe …

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Don?t spend money before you?ve made it

It is valued for allowing diverse voices into the process while yielding clear, final decisions for which one party is accountable. No, you won t have to be stuck in a cubicle all day long, eat lunch at the office cafeteria, spend hours in traffic during rush hour, hit the …

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A poor approach to Customer Service

You can start a very low-budget business and write a business plan as it evolves to bring in capital for advertising marketing and/or expansion. Sense-making is an attempt to provide an understanding and it implies a continuous process of interpretation and learning through experimentation and trial and error, where …

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The sales mystery

Business owners, managers, employees, and students can become overwhelmed, distracted, and frustrated by trying to do too many things perfectly. Even if your plan excites initial interest, it may receive only a few minutes of attention to begin with. These components of management require a set of skills and capabilities …

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