After all, who thought they needed an iPod or an iPad until they saw them and fell in love with them and realised they really did? It gives people the idea that you have a well-thought-out plan of action so they have more confidence that you have credibility and feel they are not jumping onboard what may soon be a sinking ship. Then you can determine where you get the biggest bang for your marketing buck. A financial statement for one period is useful, but static.
What information or assistance could you use?
That
way you get
several points of view, and it is a much less onerous commitment for everyone involved. Many
of the most
successful businesses are financed by banks, which can provide small to moderate amounts of capital at market costs. Put
your priorities first
and reap the real rewards of business ownership. The
greatest college on
earth is the business world.
Don?t play games that you don?t understand
It
s also why
you ve spent time defining the profile (avatar) of this niche. The
many disciplines in
business are often organized and studied independently. Because
your costs are
likely to be much cheaper ' the price of raw materials, office space, and so on are all much more likely to be open to negotiation in tough times than in good because there will be fewer customers for them ' and so suppliers will all be competing for your custom. It
must also be
a resource center to help your customers solve their problems.
Whatever you do, don?t neglect public relations and publicity
But
be cautious with
your marketing budget. If
you d begun
a car dealership specializing in yacht-sized gas guzzlers right before the Arab oil embargo in the 1970s, you would probably have been out of business in less time than one had to sit on the resulting lines at gas stations, through no fault of your own. Some
of the richest
people in the world made their money buying Microsoft stock when it was only $10 per share, and then sat back and waited for it to grow in value. Pricing
has a very
psychological effect.
Do you learn from your mistakes?
Hence,
the really
commanding business brain is at an immense premium in the market. Know
your numbers, manage
your financial systems, and watch your bank account grow. Successful
business owners who
move from a micromanaging role into a leadership one can build successful companies. Today,
with the Internet,
you have the capacity to research and find real data.
Secrets your parents never told you about sales
You
hire people because
you can't do all the work yourself. While
some insist on
endless planning, others try to speed up the process. The
best way to
do this is by creating the most realistic version of one, two, or even three different members of your ideal audience. Your
job is to
explain what's expected and then provide feedback regarding their progress.