This isn t to say that a down economy means you can t start a business. If you decide to invest in advertising, make sure it is targeted to customers who need your products and services. In order to improve production results, install simple productivity systems to help your managers, supervisors, and foremen look ahead and think about what's required to keep production efficient, fast, and running like a machine. They insist that profits are really the earnings of labor which have been withheld from the laborer by the superior skill and economic strength of the capitalist manager; they are institutional robbery, the exploitation of labor.
Seeking better business opportunities
What
you GET is
a RESULT of what you GIVE! In
olden times, a
man of affairs was obliged to guard his property and his loved ones by building a moat around his house and posting sentinels in and around his estate. Is
your company operating
at full capacity, but missing a few parts and held together with duct tape? People
aren t going
to finance you without knowing your idea.
Report on or even conduct your own original research into industry affairs
In
the likely event
that you don't have a specific idea for a business you want to start but you have exhibited business-management skills, consider buying an established business. One
way to minimize
the risk of starting a full-time business is to ease into a part-time one. You
need to work
at a higher level and invest your valuable time on strategic things instead of micromanaging employees who should already know exactly what needs to be done and what your standards of excellence are. People
need regular weekly
feedback and information about their progress and achievement.
Get in-house market research data from your own files
Maybe
a favorite retail
store suddenly comes up for sale (this is exactly what jump-started coauthor Jim's entrepreneurial career), or a friend informs them of a can't-miss opportunity, or a customer of the business they're working for now invites them to do some freelance consulting ' an invitation that turns into a business opportunity. Determine
what you want,
establish a clear vision, and set On-Purpose . And
each type of
reader does have certain typical interests. Targeting
this market, particularly
in the early years of a product's life, can be a viable strategy in many instances.
Verify insurance requirements
Don't
forget to put
your people on your priority list. Modest
inflation can help
spur economic activity, as the threat of higher prices tomorrow may encourage the making of purchases and investments today. An
engineering company could
send out the latest code changes affecting their customers every year. They
set big targets.
Can Purchasing Improve your Business Significantly?
You're
in business to
make a profit, not to work hard for little or no reward. When
a small business
expands, one frequently finds that a new layer of management is needed when it grows larger than six to eight people. Your
systems empower people
to make decisions, become accountable and responsible. Unsuccessful
people are usually
too busy to hold meetings.