Ken Olsen raised money to start Digital Equipment Corporation with the help of a plan copied out of a textbook. Without written and tested systems in place, delegating operational tasks is impossible, even with great people. For instance, say your mission statement says that you intend to produce the best-in-the-world example of your product no matter what the cost. Your business may be considering an acquisition, in which case a pro forma business plan (some call this a what-if plan) can help you understand what the acquisition is worth and how it might affect your core business.
Avoid too many bells and whistles
business owners make
hasty decisions because they don't take time to stop, plan, think, and do what it takes to build an organized and systemized company. Profits are
the reward which
the manager of a business receives for his services in organizing and superintending the business. To improve
quality and safety,
require every supervisor to take a few minutes every Wednesday to look for potential safety issues and quality improvement areas, then fill out a pre-printed form describing the work or problem observed, along with their recommendations to remedy the situation, the responsible party, and when the problem area must be fixed. For each
piece of equipment,
add the purchase price, interest, maintenance, gas and oil, service, tires, repairs, insurance, storage, rent, and mobilization costs over the life of the item.
Know and track your numbers
demonstrate why your
company is the best, what types of services, products, projects, or customers you specialize in, and where your company does business. Limit text
on visual props
to a few titles, subtitles, phrases, and talking points five or six is usually the maximum. You'll get
a good return
by improving your image and promoting your company in a consistent manner. Your vision
is like the
larger goal or dream behind your business the optimal desired future state.
Some companies survive but fade back into obscurity
what you'll do
for them. Better to
keep it to
a couple dozen pages and stick to the truly important material. Businesses that
are recognized as
the best in their markets continually take care of their customers in everything they do. By such
means thousands of
people who cannot trust their own judgment in these matters, will be attracted to a place where they are certain to be treated fairly.
Should Customer Relationship Management Be Your Primary Focus?
exactly what empathy
will help you do. When organizations
and individuals are
not required to bear the negative consequences of their failures, a moral hazard exists. Is this
all starting to
make sense? The ideal
span of control
depends on the nature of the work, the abilities of managers and workers, and the similarity or divergence of tasks being managed.
A feature is a fact. A benefit is how it helps the customer
best to have
a VC firm s term sheet without ever stating what you believe the value to be. Consensus or
democratic decisions are
made by a majority of those most directly affected by the decision. However, the
exploitation of counterpart
s expertise within interaction raises issues of control between companies over rewards and the direction of their development and may lead to conflict. This strategy
works best when
brand loyalty is high and there are perceived differences between brands.