Even if you don t learn anything new, getting a firm handle on your goals and objectives is a big help in deciding how you ll plan your business. Have you ever noticed that successful people always get up when they fall down? When you spend time doing all the work instead of leading, your company remains stuck at a level based on how much work you can do and control. People want to follow someone with passion on a mission.

Get around limitations by conducting original research

He climbed many stairs above them. Nobody wants to lend you money if they don t know exactly why you need it. Preferred stockholders typically do not have voting rights but are given preference over common stockholders in the payment of dividends and liquidation. If you are just going to use your plan for internal purposes to manage an ongoing business, a much more abbreviated version may suffice.

Financing a business requires knowledge of the laws

Protections against product substitutes include strong brand identity, patents, and deliberately incompatible standards, such as the Apple versus PC computer operating systems. At best, it will make you look less than careful. They concentrate on the big picture and what will help their company grow. Adobe gives away its Reader software but charges for its Acrobat program that makes screen readable documents.

What do you do to find and attract new customers?

Take a look at other products with an eye to seeing if they are also more vulnerable than you think. Defining clear boundaries is important to produce measurements, but setting boundaries in interdependent relationships and networks is always problematic, and to some extent, arbitrary. Most hourly employees think only a few hours ahead. Your customers want your expertise, not your sweat.

Reinforce your claims to market insight by presenting solid research

He just changed the name and a few numbers and other facts. Don't give up. Pricing is one fundamental element. The small-business arena is one of those areas where the government has made strides in doing something helpful.

Proof That Finance Really Works

It s essential, when courting these harried investors, that you make the right impression fast. This is your real cost of ownership per hour, not including overhead and profit. VCs, however, are less likely to provide equity capital to a seed-money-stage entrepreneur than they are to provide debt financing. It may be earmarked for producing working prototypes, doing market research, or otherwise testing the waters before committing to a full-scale endeavor.