A retailer isn t much like a manufacturer, and a professional-services firm isn t much like a fast-food restaurant. Also the maturity or recognition of the PSM function within the organisation matters. Will you have already cashed out and be relaxing on a beach somewhere, enjoying your hard-won gains? BUT, are you making enough money on your equipment to make it worth your while?

Is Your Company Getting Rusty in Research and Development?

If you find that managing the day-to-day headaches of a small business isn't for you, perhaps a viable alternative would be to consider investing in someone else's small business ' assuming that you have the ability to identify potentially successful businesses. But any amount is better than none! Join organizations where your customers hang out and will see your involvement. Experience has taught them that entrepreneurs who have their own assets at risk are more likely to stick to a business than those who have none of their own assets at risk.

Promotions need to stay fresh

This is true, if you want to build your business based on being the low price provider to drive your sales volume. Develop a profitable business model to give you a financial return for the risk you take. You ll also have to have a financial structure, including payables-and-receivables systems and financing, that will keep you from running out of cash even once. It accommodates the frequent lag between when a purchase is made and cash changes hands.

Know your product better than anyone,

A person with a great resume, treated poorly by management, is no longer very motivated and likely NOT to be a good person. Conversely a bad person, based on what you have on paper, may, with some training, trust, and fair treatment, turn out to be a very good hire. Loans guaranteed by the SBA are assessed a guaranty fee. In these hard times customers not only do not expect ostentation, they do not want it. Perhaps you want to mull over the chances of a major expansion.

Delay major decisions on Customer Service for one year

And each type of reader does have certain typical interests. Your team members need to know where they stand in order to meet your goals and expectations. The value of these investments is related to their function for the related business counterparts, which changes over time. There are also very web-savvy marketers out there, and it helps if you are tapped into online marketing, such as social media.

Distribution on a shoestring

You take on the projects that appeal to you most, and feel proud as you watch them grow and add value to the market. Ask for referrals to professionals who specialize in the types of project you want to pursue. (When I took a hard look at our overhead costs a few years ago, I found that people were abusing the company accounts and ordering more things than we needed.) Consider outsourcing as much as you can to cut your overhead, including payroll services, employee training, scheduling, marketing services, safety programs, and equipment maintenance. Looking at things in your plan through rose-colored glasses may even doom your business to failure if it causes you to seek insufficient startup capital, underprice your product or service, or expect unrealistically rapid growth.