One effective ' and free ' way of promoting your venture is simply to get your customers to do it for you, by good old-fashioned word of mouth. When you re working on a personal project, you re doing something that you enjoy for yourself, without asking others what they think. The same may be true, to a lesser extent, for real estate brokers, management consultants, benefits consultants, computer consultants, trainers, and both creative and IT help. Your job is to discover what your customers need and want, and then deliver it to them.

Verify Insurance Requirements for Design

Venture capitalists may also come in on some later rounds of financing. Get behind on the payment schedule, and you re likely to find a host of covenants buried in your loan documentation. They proactively market their services, sell what they have to offer, nurture new customer targets, create loyal customer relationships, get involved in industry and community organizations, offer differentiating services to customers, and work hard to put customers first. Most business owners are so busy keeping their customer commitments, providing the right services and products, getting their jobs finished, and keeping employees working, they don't sweat the BIG $tuff.

Who do you hire and how much you can afford to pay them?

You must break down the work flow into small, incremental steps that will ensure that the end results are accomplished. Variations on the triangle include Quality-Price-Service (a given product sold at a lower price will likely be accompanied by poorer customer service) and Quality-Time-Control (to get a high quality project completed quickly, one will have to yield control of most of the decision making to the person doing the work). As a business owner or manager, you must also constantly improve and refine the way your company does things. Ask team leaders to think for themselves and call their own plays.

As a business owner, what are your top three priorities?

If, for example, you are in the fashion, food, or design industry or you are creating a new product, your visual image will certainly be worth a thousand words. This is actually a part of speaking directly to the interests of your audience, the investor. Then look at your sales and marketing budget and efforts. Successful companies find ways to be market leaders by differentiating themselves from their competition.

Produce consistent results in Advertising

Most companies fail to realize that it takes five to seven times more energy and money to get new customers than to keep existing ones. Many times plans handle this with a sentence saying something along the lines of, Our legal counsel advises us the plaintiff s claims are without merit. The goal and purpose of all economic activities is the satisfaction of human wants. What's the worst that can happen'? If you never try, you'll never achieve.

What do you do to stay in touch and schmooze with our customers?

The return to your company in productivity, quality work, motivation, and staff loyalty will be exponential. A product description is more than a mere listing of product features. However, if you're starting a business that specifically uses your skills and expertise, the risk may not be nearly as great as you think. In order to establish clear expectations, you must take the time to explain exactly what you want, show your employees how to do it, ensure they fully understand the directions, and then reinforce your wishes with coaching and training.