For small to medium-size company, these tactics are more than just low-cost; they are also very effective. They will provide you with a steady flow of incoming business year after year. They include personal contacts (or networking), face-to-face contacts, classes, free speeches, publicity, circulars, signs, and small ads. These tactics […]
Your first contact is important. Retail businesses usually do a good job here, but service companies, professional offices, and companies selling to other companies often do a poor job. Two areas you should work on are the initial phone contact and a reception area. Initial Phone Contact The main reason […]
Buying Right Away When people decide to buy a product right away, they often will buy it from whatever source comes to their mind first. This could be a printer that just happens to send a direct mailing, a business that is right down the street, or ad company that […]
People’s attitudes towards time are complex and variable. If you want to use your time efficiently to accomplish all that you need to do at work and at home, you need to be aware of the current habits and attitudes that shape your use of time. CHANGING ATTITUDES Our attitudes […]
Time can sail past for some people and drag for others. Which of the two applies to you depends mostly on your attitude. Use the power of positive thinking to make your plans successful, and even the most distasteful of tasks will seem painless. Enjoying Life Different people have […]
Keeping a reliable and precise record of forthcoming events, appointments, and obligations is crucial for efficient time management. Choosing A System The traditional way to record future plans by hand is in a diary. Increasingly sophisticated personal planners and electronic organize, with address books and accounting systems, are now […]
Once you have listed your long- and short- term professional goals, you need to arrange them in priority order. Each goal will involve the successful completion of a number of tasks. Decide which are the most important and need urgent attention. Analyzing Your Work Be honest as possible about your […]
It is not uncommon, particularly if the plan is being used to seek capital, for the entrepreneur to be asked to do a presentation of the business concept, highlighting the key points of the business plan. Usually this occurs after the potential funders have read the executive summary and perhaps […]
The following are errors that entrepreneurs commonly make when developing a business plan, particularly when the audience is made of investors. 1. Projecting rapid growth of a venture beyond the capabilities of the founding team. This is a common problem. The new venture shows potential for rapid increasing demand, sales […]
Bankers/lenders are primarily interested in a company’s margins and cash flow projections, because they concerned about how their loans or credit lines to the business will be repaid. The margins indicate how much room there is for error between the cost to produce the product (or deliver the service) and […]
