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
There
is 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
A
board 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?
As
businesses 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
The
explanation 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
The
position 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.