Which, of course, is fantastic news for you and your minimalist pared-down start-up. Conversely, it may be too far ahead of its time. It s advisable NOT to put your home up for collateral it s simply too big a risk. But any amount is better than none!
How are you selling it?
Of course, the timepiece would be a very cheap one, but many a parent will trade with you for the sake of getting a watch for his child. Your business may be considering an acquisition, in which case a pro forma business plan (some call this a what-if plan) can help you understand what the acquisition is worth and how it might affect your core business. Price can often become secondary to the relationship. A niche market is more specific than a mass market.
You determine the scope of what your customer requires, calculate what it will take to produce the finished product or service, secure vendor and supplier pricing, prepare your final cost estimate, mark it up, and then submit your proposal. But don t make the mistake of skewing your plan to fit an idea that isn t sound. You also need to check that your customers are in a position to be able to pay you in the first place. You can't rely on someone else to care about your finances as much as you do.
How useful are your organization?s existing products and services?
Guess what? This is not alone the accepted dogma of the man who is making his way in the world. A higher price is usually associated with higher quality, and is seen as more exclusive. But what about the investment community as a whole?