A problem I often see as a speaker is that the agenda of the company I'm visiting includes training sessions led by the business owner, but no real hands-on learning happens. Know your equity or net worth (the actual value of your company), not including any extra or intrinsic value for good will or what you could sell your company for on the open market. You are probably working with friends or customers who have lenders, brokers, attorneys, title companies, and escrow officers they can recommend. The best way to ensure you get paid promptly by a big firm is to send the invoice on time to the right person at the right place, and make sure it contains all the details which are needed to get it through their payment system.
Nothing will please everyone
results through people
who achieve bottom-line targets. That s
why some research
is required before creating your message. A plan
should cover all
the important matters that will contribute to making your business a success. To a
typical consumer who
s purchased her share of shoddy products from uncooperative manufacturers, it s encouraging to hear about a multimillion-dollar settlement of a consumer s claim against some manufacturer.
Stop working like a poor business owner and become a rich business owner
also be a
resource center to help your customers solve their problems. Liabilities cost
money, go down
in value, and take a lot of work to get them to pay for themselves. If you
have many equity
investors coupled with a pile of creditors, this can get pretty complicated. What are
all those projections
and forecasts for if they are not attempts to predict the future?
Want an easy fix for your sales?
be advantageous because
you may find other people interested in your business ideas. Being a
small-business owner doesn't
mean that you have to work 70 hours a week, make a six-figure income, or offer a unique product or service. Before you
start spending marketing
money, decide what you want to invest in based on the return you might get. The fact
that your business
is unlikely to perform exactly as planned is no reason to skip planning!
Is Distribution your company's main focus?
can make the
reason you went into business become a reality. You work
on exciting things,
new opportunities, and what really makes a difference. Put your
priorities first and
reap the real rewards of business ownership. Strong competitors,
price wars, me-too
products, the fickle habits of the buying public, and other market-related risks must be addressed.
Is success a matter of buying low or selling high?
will tell you
how to succeed. Remember, training
is not an
informational meeting or a lecture from the boss. Once you
have determined whether
you can launch and run a business for $20,000, $200,000, $2 million, or $200 million, you will be able to consider the various funding sources. In general,
it includes such
things as requiring audited financial statements and checking warehouses for claimed inventory stocks.