But be cautious with your marketing budget. A useful business plan can be any length, from that scrawl on the back of an envelope to more than 100 pages for an especially detailed plan describing a complex enterprise. Once upon a time suppliers were often happy to extend credit to new businesses; in other words supply them with the product they needed to buy and then invoice them for payment thirty days later. In smaller companies, bring in a college marketing student to help you for a few days every month.

Review bid, estimate, and proposal

Describe any relevant jobs in terms of job title, years of experience, names of employers, etc. If the vice president of marketing wishes to change the style of a product being produced, considerable time will be required to engage feasibility studies, explore design alternatives, investigate the technical methods required, and alter manufacturing methods. Where do you stand in terms of retirement planning? In many countries, there is no network of venture capitalists to back fledgling companies.

Make friends and build relationships with people rather than selling

A contingency plan can soothe the fears of a banker or investor by demonstrating that you have indeed considered more than a rosy scenario. The sum total is contained in two words, words that electrify, nevertheless. In fact, warning labels may seem ridiculous, but in a litigation-crazed society, you will actually see labels such as the one on a portable stroller that read, Please remove child before folding. Really? Want to double your business?

Today?s Accomplishments Were Yesterday?s Impossibilities

This allows them to stay on track and make adjustments to improve and keep on course. You are not exactly like them. When you first started your business, you didn't have any customers. Suppose a lawn mower should be reversed and forced to run backwards--there would not be much progress made in cutting grass on that lawn.

Produce consistent results in Customer Service

Do you get stuck using the same suppliers, vendors, and subcontractors because you don't have enough time to find new or better ones? Trust is built over a long period of time. The bad news about recessions is that consumers are wary buyers in recessions, and wary buyers mean low margins, and low margins usually mean low profits. Preferred stockholders typically do not have voting rights but are given preference over common stockholders in the payment of dividends and liquidation.

Advertising is legalized lying

A mission statement is a sentence or two describing the company s function, market, competitive advantages, and the business goals and philosophies. Your mission statement should be inspirational. Price is also dependent on other issues such as service. Competition from substitutes can occur at many levels, including product, ingredient, service, and convenience.