Lower price, higher quality, and better name recognition are examples of competitive advantages. The existence of relationships is challenging for accounting and for the sharing and appropriation of values. As the weak businesses disappear, they leave in their place an opportunity for newer, stronger competitors to surface. The glut of tens of thousands of new products introduced annually, combined with the existing plethora of more than 30,000 products stocked by a typical supermarket, puts retailers in the driver s seat.
Companies will sell you everything from industry studies to credit reports on individual companies
When
you re working
on a personal project, you re doing something that you enjoy for yourself, without asking others what they think. There
are few things
so attractive to the masses as the tricks of the sleight-of-hand performer. The
first one or
two times you create a plan you may feel a little unsure of yourself and even less certain that what you re doing has value. It
is temporary in
nature because the money must be repaid to the lenders.
Grow without additional problems in Marketing
Do
not trust the
work to your friend, relative, or clerk. Customers
rarely ever read
a company s business plan, so you ll probably have your miniplan available for these occasions. What
Bankers Want
A banker s first concern is getting the bank s money back plus a reasonable return. This
world, seething like
a caldron, is boiling to the brim with questions of the most vexing and menacing kind.' Look at the men who reached the top of fortune's ladder, and see under what discouraging circumstances they began.
Explaining what your proposal includes and excludes
Templates
can make your
business plan appear similar to those of other companies, some of which could be competitors. Because
credit unions are
not-for-profit financial institutions, their focus is serving the financial needs of their members and not on making a profit. But
most companies continue
to offer the same things. Angel
investors used to
be a difficult group to find.
Administration procedures
Profit
shows you how
much money your business makes. Nordstrom
and FedEx offer
great customer service. Follow
the agenda and
stay on subject. These
ideas can be
created quickly, with little expense.
Keep customers happy
It
s closely related
to the personality of your brand, to your core values, and to your chosen approach. Many
angels are well-off
professionals, such as doctors and lawyers. Have
them create mailing
pieces, get them printed, stuffed into envelopes, and mailed. Forget
the economy, folks.