What are your main performance indicators?

Profit is everything that's left over after you've collected your receivables, paid your bills, and paid the owner's salary for the work he or she performed. When production systems are installed and used effectively, monthly evaluation meetings become a simple matter of checking what has been done properly and what …

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Prioritize the results

Never ask a residential broker to find industrial property. The best use of somebody else s money is to buy or build something that will make more money, both for you and for that person. If you continue to do business the same way, you won't improve or get better …

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What would you do if you weren't afraid?

It is stated on the best of authority that there are a thousand business firms in New York and vicinity each having one or more $5,000 positions awaiting the men who can fill them. Remember, the goal of contacting your customers is to get them to call you. Others …

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Don?t worry about funding if you don?t need it

A good professional in one of these slots can go a long way toward helping you succeed. Have you ever hired a manager, salesperson, or employee too quickly, without proper screening or reference checks, because you were too busy and needed to fill an empty slot to get your work …

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Identify competitor weaknesses

A writer with the gift of a lively imagination can write something interesting in the way of a fanciful battle between customers and goods. Profit is financial gain or return from the use of capital. The more information you can gather, the better. Remember, time is of the essence to …

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Devote considerable attention to staffing

Endeavor to see what others fail to see--new possibilities of sales, new means of profit, new methods of doing things. If you can find or create an entrepreneurial enterprise inside (or alongside) a larger company, in addition to receiving significant managerial and operational responsibility, in many cases you can negotiate …

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Project Management in Sales

In the early years of your start-up business, you'll almost surely experience a reduction in your take-home income just as you'll also experience the feeling of a lack of security. So they're afraid to go for it, for fear of their boss's reaction when things aren't done the way he …

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Sales policies reviewed

Bankers are sensitive to the term or length of a loan. A high ratio indicates a strong ability to meet obligations, but a very high ratio may indicate that assets are inefficiently allocated; e.g., some of the money on hand might be better used for investment. No matter how …

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Proof That Finance Really Works

Even if you don t learn anything new, getting a firm handle on your goals and objectives is a big help in deciding how you ll plan your business. Have you ever noticed that successful people always get up when they fall down? When you spend time doing all the …

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A small leak can sink a great ship

Without written and tested systems in place, delegating operational tasks is impossible, even with great people. The best you can do is have a plan in which you logically and systematically attempt to show what will happen if a particular scenario occurs. Become essential to the place, and you will …

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Extract the Essence

One way to minimize the risk of starting a full-time business is to ease into a part-time one. Only you can make the reason you went into business become a reality. You can take advantage of listening to others experiences, and use this knowledge to build your project faster and …

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Use prices to position your business

For instance, when taking on investors, whether they are family and friends, angel investors, or venture capital investors, there are securities law issues that may inhibit the way in which money may be accepted. She calculated that, when taking all paperwork into account, she spent roughly an hour on each …

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A Simple Guide to Quality

Depending on your industry and the software you are using, it may be in your best interest to utilize graphics to enhance the presentation of any business plan. Production employees, for example, know how to handle materials, assemble products, test performance, and troubleshoot very specific problems. But you must protect …

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Strategy on a shoestring

If you spend all your marketing money on uniforms for your employees, keeping your facility spick and span, and doing excellent work, you may not achieve your marketing goal (more revenue at a higher price). Depending on your industry and the software you are using, it may be in your …

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