One easy way to perform this task is to assign someone in your company this responsibility. Customer loyalty is the result of the quality of your relationship. Another way to track returns on sales is to make a list of your top customers and rank them by sales revenue and net profit per customer. A typical business plan runs 15 to 25 pages, created and (usually) sent electronically, sometimes accompanied by forms the receiver requests that you fill out.

Costs come in all varieties

Should you begin your new enterprise when the economy is strong or when the economy is in a recession? Advertising has its place for major suppliers of tractors, large national product providers like Ford Motor Company, national service companies like H&R Block, and other types of businesses. Taxicab drivers in Munich driving vehicles with anti-lock brakes took corners faster and left shorter reaction zones than drivers of cabs with conventional brakes; the two groups ultimately had the same crash rate. If you are just going to use your plan for internal purposes to manage an ongoing business, a much more abbreviated version may suffice.

You can charge a little more if you can ship faster than your competitors

. A layman s opinion on whether a product is more or less likely to generate lawsuits is not worth including in a plan. An especially fast growing company with rapidly increasing sales might be chronically short of cash. If nothing else, crafting a backup plan is a good idea should something happen that is out of your control.

Unwrapping Advertising

A relatively immature function may be more effective in solely aiming for the rationalisation role, as it just does not have resources to effectively manage the other roles and interfaces. (That s doubly true if, as is the case with many entrepreneurs, both descriptions apply to you.) Collateral is just something the banker can seize and sell to get back some or all of the money you ve borrowed in the event that everything goes wrong and you can t pay it back with profits from operations. Remember, time is of the essence to venture capitalists and other investors. A large enterprise would simply hire a few more modestly paid customer service reps, credit department staff members, or bookkeepers to handle the added orders, invoices, and the like.

Background information on Customer Service

Or do your people constantly improve and try new and better ways to do things? You need not be a Democrat or an Episcopalian because your employer is, but if you are wise you will avoid discussing with him questions of politics or religion. Let them know what you are the expert in. An engineering company could send out the latest code changes affecting their customers every year.

It not knowing what to do, it?s doing what you know

Saying things a bit differently the second time often helps uncover misunderstandings. What are our top three priorities'? I'll bet you'll get thirty-seven different answers! Partners are like any other investor, and it would be a rare one who would come on board without some kind of plan. Track them.