Most owners mistakenly focus on cutting costs instead of increasing revenue when things go bad. A certain New York house grew from a small to a great one by this method of advertising. It serves to compensate the lender for postponing his or her own use of the money. Eventually, the consumer may face financial ruin and have to make a major correction by selling off assets or declaring bankruptcy.

Make a comprehensive list of competitors

Are the needs of the parties truly at odds with each other? Decide what ten proactive operational systems are needed in each of your company's departments. Know where you want to go and let others know where you want to go, too. Innovative thinkers don t merely retain and recite information; they identify and create new patterns that reorganize known information.

Without specific objectives, it?s hard to tell what you can afford to do

The shoe giant Zappos has built its reputation by providing excellent customer service. Make sure that your accidental opportunity is in a niche that you like. For example, a newsstand, dry-cleaning establishment, or coffee shop sited modestly between a car park and commuter ferry may be in a better location than one with its own destination parking lot, because of the morning and evening foot traffic between the two anchors. To motivate your workforce, you've got to give them a reason to be motivated.

Rates of Return

The most formidable barrier to progress has always been the senseless opposition of those to whom it would be of the greatest benefit. But the most effective visual presentations are clear, concise, and even terse. You can use a password-protected website to post your plan and then simply give people the web address and the password. A local auto mechanic could hold clinics for their customers every quarter on how to keep cars running in tip-top shape.

There?s nothing so practical as a good theor

One of the reasons for differences among plans is that industries are different. So replace fixed costs with variable costs and adopt a new model ' pay as you go. Those who embrace theory are more likely to adapt to, and even seek out, new beneficial situations. Running your own business is demanding and stressful.

What is your competitive advantage?

You work on exciting things, new opportunities, and what really makes a difference. Let's take a look. And when they're done, they just get another ditch to dig. Trust as little as possible to your clerks.