Know all of your costs

While mass marketing can be effective, the return on cost can be very low, as only a small percent of the audience actually needs or wants what you are selling. To have a profitable business, what you really need are 1,000 true fans. Perhaps your political beliefs are very …

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Two views on good management

Credit unions may also offer a sense of camaraderie because they are typically sponsored by a business, a community, or some group of people of which you are one. The point is, the quality of your plan may have little or nothing to do with your prospects for getting funded …

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What do you do to convert repeat customers to loyal ones?

The philosophy of business is concerned with broader meanings of business as a human endeavor, including whether business is fundamentally an economic or social phenomenon, the moral obligations of business to society, the degree to which government should regulate businesses, and the differences between business operations and meanings in capitalist …

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Identify competitor weaknesses

A writer with the gift of a lively imagination can write something interesting in the way of a fanciful battle between customers and goods. Profit is financial gain or return from the use of capital. The more information you can gather, the better. Remember, time is of the essence to …

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Project Management in Sales

In the early years of your start-up business, you'll almost surely experience a reduction in your take-home income just as you'll also experience the feeling of a lack of security. So they're afraid to go for it, for fear of their boss's reaction when things aren't done the way he …

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Use prices to position your business

For instance, when taking on investors, whether they are family and friends, angel investors, or venture capital investors, there are securities law issues that may inhibit the way in which money may be accepted. She calculated that, when taking all paperwork into account, she spent roughly an hour on each …

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A Simple Guide to Quality

Depending on your industry and the software you are using, it may be in your best interest to utilize graphics to enhance the presentation of any business plan. Production employees, for example, know how to handle materials, assemble products, test performance, and troubleshoot very specific problems. But you must protect …

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Insurance requirements for Purchasing

Proactive operational systems control all business activities and deliver the desired and targeted results on time and on budget, in a super-efficient, super-fast, super-productive, and super-organized manner. Decide if you are a money-maker or a money-saver. Equity is the value of a business, investment, or property net of all amounts …

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Risk more than others think is safe

Say your profit margins are shrinking slowly but steadily, and the trend seems irreversible. An interesting development is underway as companies attempt to develop special tools for handling these problems. It s essential to take criticism with a growth mindset, meaning that you should see every challenge as an opportunity …

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Cover just the major areas

Some of these resources may be adapted to meet the requirements of particular counterparts but others will have wider relevance. Human capital consists of talents, skills, and knowledge residing among employees. Because with everyone adopting a pared-down mentality there is no need for you to spend money on flashy offices …

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Managing Advertising

I successfully use advertising in specific industry trade magazines to sell my books, speaking services, and business-owner boot camps. The point is, the quality of your plan may have little or nothing to do with your prospects for getting funded by a particular investor. If you find that managing the …

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Taking care of your Purchasing team

Online travel services are service substitutes for (and have largely eliminated) bricks-and-mortar travel agencies. Better to keep it to a couple dozen pages and stick to the truly important material. On the other hand, a banker is likely to be quite interested in seeing a contingency plan that will let …

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