You stay in touch with loyal customers and call or meet with them on a regular basis. So deal with these sections of your plan in greater depth, but you can be more concise in other areas. Pricing is one fundamental element. It seems sensible to plan to put up as collateral the exact item you re borrowing money to buy.
Reposition yourself so the price competition is indirect
no point in
putting all this cash flow structure in place if you don't monitor and police it properly. Equity capital
is obtained by
selling a portion of the ownership of a business to investors. Have you
ever noticed that
successful people always get up when they fall down? Get behind
on the payment
schedule, and you re likely to find a host of covenants buried in your loan documentation.
Diversifying into more than one product is a good way to reduce risk
of directors gives
you access to expertise, provided you choose them wisely, but at the cost of giving up control of the business to them. For example,
a consumer who
feels prosperous after making new purchases may end up making even more purchases and take on excessive debt. If you
have to negotiate
details of exactly what any equity investors will get, there s time to do that later. An investor
who knows this
fact but doesn t see any mention of it in your plan may suspect you ve lost your senses and who could blame her?
Is Your Company Getting Rusty in Distribution?
begin to grow,
they hit challenges and roadblocks, including lack of time, energy, money, people, and customers. Accepting the
universality of departments
is essential to setting up and growing a business, as it encourages the employment of standards and practices that others can readily understand. And not
only does it
ensure you get paid promptly; if there is a recurring charge, for example a monthly or annual renewal fee to pay, it ensures you will get that on time, too, without even having to ask for it. Never
dispute with him.
You have competition to worry about
is that it
depends on your market and what its buyers want. Would you
go to Starbucks
if the lattes weren't consistent every time, from store to store? So the
first thing you
had to do was find some. Finding customers
involves everything you
need to keep profitable revenue coming in the door.
Potential roadblocks identified
of a company
and the pattern of interaction of which it is part determine the efficiency of that company s operations and the potential for its development. Either they
are the cheapest,
the best at service, or the best at quality. (If you're
not presently working
for one of those good companies, you have plenty of choices to choose from.) So update your resume and keep improving your work ethic. So when
they call, your
sales department should be ready to help them solve their problems.