Not even the French seer Nostradamus could tell you for sure how your business will be doing in five years. In fact, if you can t offer some combination of features that sets you apart, you ll have difficulty writing a convincing plan. 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. Updating a plan is normally easier than starting from scratch.
Give everyone business cards and company shirts.
with the sole
intention of hurting shouldn t get even a slight bit of your attention they aren t worth it. Next, compare
this cost with
the cost of renting versus owning. Luckily, one
of the most
valuable uses of a business plan is to help you decide whether the venture you have your heart set on is really likely to fulfill your dreams. Do whatever
5 ways sluggish economy changed my outlook on Business
be measured in
terms of interest rates and shares of ownership, as well as in time, paperwork, and plain old hassle. Do what
you want to
do first, not last, as unimportant things, challenges, commitments, and your busy life tend to get in the way! Grocery stores
that provide take-out
food are convenience substitutes for traditional fast food restaurants. You must
enjoy what you
do, love your customers, not be afraid to hire people better than yourself, and let go of making every decision.
Targeting the safe middle market is not necessarily a safe marketing strategy
the qualities that
proprietors are yearning for--nay, actually groaning for, but which are hard to find in the average man. As you
develop these systems,
remember that your goals are to replace yourself with systems that produce the same results every time. For example,
call forwarding and
call waiting are features; never missing another call is their benefit. Your goal
is to see
your top customers every two to three months.
Is Sourcing the main function of your business?
won t have
to be stuck in a cubicle all day long, eat lunch at the office cafeteria, spend hours in traffic during rush hour, hit the gym at the same time as everyone else and wait in line for the next available treadmill. Have you
ever noticed that
successful people who have their lives in order are also more active, involved, and generous with charities, their church, and volunteer organizations? But each
kind of financing
has different characteristics that you should take into consideration when planning your future. By such
means thousands of
people who cannot trust their own judgment in these matters, will be attracted to a place where they are certain to be treated fairly.
The only thing that overcomes hard luck is hard work
an excellent company,
training must be ongoing and continuous for everyone. Do you
have employees whose
purpose seems to be to make your life miserable? For example,
a hotel pays
the same salary to a desk clerk whether one or ten guests register in an evening. Each manager
is dependent on
those who work for and with him in other parts of his company, for example, a purchasing manager depends on a manufacturing manager and an R & D manager.