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Common Money Sources to Start or Expand a Business - ...t equity in other property
5.Money from supporters or others interested in what you are doing
6.Bank loans
7.Venture cap...
Taste, Trends and Technology: How Will the Future Affect Your Business - ...d need,
and is it willing to pay for, the product or service you want to sell? For example, do the people in
the small town where you live rea...
Benefits of Writing a Business Plan - ...o why take the time to write one? The best answer is the
wisdom gained by literally millions of business owners just like you. Almost without exce...
Do You Really Want to Own a Business - ...ar configuration is sure to be unique, perhaps you will
agree with some of the ones I have compiled over the years from talking to hundreds of bud...
Be Sure You Like Your Business - ...your
mate. A few of us are sufficiently blessed that we can meet someone on a blind date, settle down a
week later and have it work out wonder...
Forecast Gross Profit for a StartUp Business - ...otal product cost.
She may add the cost of the pre-printed bag to derive the total cost of the sale.
2.Once you have a complete list of ...
Return on Equity Investments: What is Fair - ... or people who
wish to support your business for political or personal reasons, they may be willing to accept a
lower rate of return.
...
If No One Will Finance Your Business Try Again - ...e. If you get
the same answer from several people, you will know what you have to work on. And then there is
the possibility that someone&rsq...
Importance of environmental scanning - ...tion to survive and prosper,
the strategist must master the challenges of the profoundly changing political,
economic, technological, social,...
Business environment types - ...f things to come
and to analyze strategic alternatives and, at the same time, develop greater sensitivity
to long-term implications. Various...
Consumers and products - ...e making or
influencing more household purchasing decisions than ever before. Moreover, as
the population ages, time pressures become more w...
Environmental scanning and marketing strategy - ...ivers by
pushing the appropriate buttons or typing the proper commands.
Possibilities for business and personal use of videotex are as endle...
Specific trends in the environment may be systematically scanned - ... environment.
3. Disclosing lobbying efforts in detail.
4. Reducing a company’s right to fire workers at will.
5. Eliminating ...
The strengths and weaknesses of a business - ... strengths and
downplay moves that bear on its weaknesses. Thus, assessment of strengths and
weaknesses becomes an essential task in the str...
Current Strategy of a Product or Market - ...we have?
2. How is each market served?
What Markets Do We Have?
Answering this questio...
Marketing Environment. Succes stories - ...cher.
Monitoring the environment from the viewpoint of products/markets is a
line function that should be carried out by those involved in m...
Concept of synergy - ...roduced together, they may contribute
X+Y+Z. We can say that Z is the synergistic effect of X and Y being brought
together and that Z represe...
Developing Marketing Objectives and Goals - ...ut the intended purpose of any
effort. To be effective, objectives must present startling challenges to managers,
jolting them away from tra...
Corporate Strategic Direction and Strategy Development - ...evidently made it easier to make the always difficult
and risky long-term/short-term decisions, such as investing in research for the
long ha...
Defining the Business Mission - ...tion and technological
innovations, this method of defining the business mission has been decried. It has
been held that building the perspect...
The objectives and goals of a business - ...ent stakeholders. One way of organizing
objectives is to split them into the following classes: measurement objectives,
growth/survival objec...
Setting SBU objectives - ...ey will have varying ambitions for
the SBU’s future. It will take several top-level meetings and a good deal of effort
on the part of t...
Establishing strategy selection - ...n in this article is with business unit strategy.
Among
several inputs required to formulate business unit strategy, one basic input is...
Business Key Variables - ... fixed costs, a high load factor is critical to success. In the automobile industry, a
strong dealer network is a key success factor because the...
What is SBU strategy - ...ix with industry maturity
or attractiveness as one dimension and strategic competitive position as the
other.
Industry attractiveness ma...
Business strategy evaluation - ...bility Is there a sustainable advantage?
2. Validity Are the assumptions realistic?
3. Feasibility...
Products life cycle - ...uct. In most texts, the discussion of the product
life cycle portrays the sales history of a typical product as following an Sshaped
curve. T...
Portfolio matrix in a business - ... the direction of the firm. This process starts
with, and its success is largely determined by, the creation of sound strategic
alternatives....
Portfolio Matrix and Product Life Cycle - ...ioned between the
cash cow and the dog quadrants. Ideally, a company should
enter the product/market segment in its introduction stage, gain ...
Business portfolio approach - ...trating on a particular
group of customers, geographic market, channel of distribution, or distinct segment
of the product line).
Porter&...
Business Organizational Structure - ...strategy
formulation. This article is devoted to building a viable organizational structure
to administer the strategy.
As we enter the next...
Balance the Demands of Scale and Market Responsiveness - ...and escalating competition
were all placing enormous pressures on the company’s traditional mode of operation.
Top management realized th...
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Below is a list of all Strategic planning articles. If you want to find a tutorial by keywords, all you have to do is a quick search in our directory. Just use the search option available at the top-right side of the page. The website search is powered by web-articles. Or, if you want to read specific Strategic planning tutorial, just point to it. The newest articles and tutorials are shown first in the list. To access the last ones, browse the pages 2, 3, 4... at the bottom. Also, you may browse articles alphabetically ordered.
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Below is a list of all Strategic planning articles. If you want to find a tutorial by keywords, all you have to do is a quick search in our directory. Just use the search option available at the top-right side of the page. The website search is powered by web-articles. Or, if you want to read specific Strategic planning tutorial, just point to it. The newest articles and tutorials are shown first in the list. To access the last ones, browse the pages 2, 3, 4... at the bottom. Also, you may browse articles alphabetically ordered.
Page# 1 (last added articles shown first)
Importance of environmental scanning (06/06/2007)
(...) Specifically, the article discusses the criteria for determining the scope and focus of scanning, the procedure for examining the relevance of environmental trends, the techniques for evaluating the impact of an environmental trend on a particular product/ market, and the linking of environmental trends and other “early warning signals” to strategic planning processes. IMPORTANCE OF ENVIRONMENTAL SCANNING Without taking into account relevant environmental influences, a company cannot expect to develop its strategy. It was the environmental influences emerging out of the energy crisis that were responsible for the popularity of smaller, more fuel-efficient automobiles and that brought about the demise of less efficient rotary engines. (...)
(...) Specifically, the article discusses the criteria for determining the scope and focus of scanning, the procedure for examining the relevance of environmental trends, the techniques for evaluating the impact of an environmental trend on a particular product/ market, and the linking of environmental trends and other “early warning signals” to strategic planning processes. IMPORTANCE OF ENVIRONMENTAL SCANNING Without taking into account relevant environmental influences, a company cannot expect to develop its strategy. It was the environmental influences emerging out of the energy crisis that were responsible for the popularity of smaller, more fuel-efficient automobiles and that brought about the demise of less efficient rotary engines. (...)
Business environment types (06/06/2007)
(...) A company may choose not to undertake any research on its own, accepting a secondary role as an imitator. The research efforts of imitators will be limited mainly to the adaptation of a particular technological change to its business. There are three different aspects of technology: type of technology, its process, and the impetus for its development. (...)
(...) A company may choose not to undertake any research on its own, accepting a secondary role as an imitator. The research efforts of imitators will be limited mainly to the adaptation of a particular technological change to its business. There are three different aspects of technology: type of technology, its process, and the impetus for its development. (...)
Consumers and products (06/06/2007)
(...) She has less time to browse; it is down 25% from five years ago. She isn’t even bothering to check prices. She wants the same product, at the same prices, in the same row, week after week. (...)
(...) She has less time to browse; it is down 25% from five years ago. She isn’t even bothering to check prices. She wants the same product, at the same prices, in the same row, week after week. (...)
Environmental scanning and marketing strategy (06/06/2007)
(...) Product selection might also be enhanced by videotex, as sellers stock a more complete inventory at fewer, more central locations rather than dealing with many retail outlets. Because packages will no longer serve as the communications vehicle for selling the product, less money will be spent on packaging. Product changes can also be kept up-to-date. (...)
(...) Product selection might also be enhanced by videotex, as sellers stock a more complete inventory at fewer, more central locations rather than dealing with many retail outlets. Because packages will no longer serve as the communications vehicle for selling the product, less money will be spent on packaging. Product changes can also be kept up-to-date. (...)
Specific trends in the environment may be systematically scanned (06/06/2007)
(...) 5. Eliminating inside directors. The marketing strategist of a consumer-goods company may want to determine if any of these trends has any relevance for the company. (...)
(...) 5. Eliminating inside directors. The marketing strategist of a consumer-goods company may want to determine if any of these trends has any relevance for the company. (...)
The strengths and weaknesses of a business (06/06/2007)
(...) Strengths today may become weaknesses tomorrow and vice versa. This is why a penetrating look at the different aspects of a business’s marketing program is essential. This article is directed toward these ends searching for opportunities and the means for exploiting them and identifying weaknesses and the ways in which they may be eliminated. (...)
(...) Strengths today may become weaknesses tomorrow and vice versa. This is why a penetrating look at the different aspects of a business’s marketing program is essential. This article is directed toward these ends searching for opportunities and the means for exploiting them and identifying weaknesses and the ways in which they may be eliminated. (...)
Current Strategy of a Product or Market (06/06/2007)
(...) Identify important customers in each segment. 4. Identify those customers who, while important, also do business with competitors. (...)
(...) Identify important customers in each segment. 4. Identify those customers who, while important, also do business with competitors. (...)
Marketing Environment. Succes stories (06/06/2007)
(...) In 1983, the average American ate nearly 18 pounds of confections up from a low of 16 pounds in 1975. Since the mid-1980s, the market for upscale chocolates has been growing rapidly. Chocolates are again popular gifts for dinner parties, providing a new opportunity for candy makers, who traditionally relied on Valentine’s Day, Easter, and Christmas for over half of their annual sales. (...)
(...) In 1983, the average American ate nearly 18 pounds of confections up from a low of 16 pounds in 1975. Since the mid-1980s, the market for upscale chocolates has been growing rapidly. Chocolates are again popular gifts for dinner parties, providing a new opportunity for candy makers, who traditionally relied on Valentine’s Day, Easter, and Christmas for over half of their annual sales. (...)
Concept of synergy (06/06/2007)
(...) Shared Know-How. Units often benefit from sharing knowledge or skills. They may, for example, improve their results by pooling their insights into a particular process, function, or geographic area. (...)
(...) Shared Know-How. Units often benefit from sharing knowledge or skills. They may, for example, improve their results by pooling their insights into a particular process, function, or geographic area. (...)
Developing Marketing Objectives and Goals (06/06/2007)
(...) In practice, many businesses run either without any commonly accepted objectives and goals or with conflicting objectives and goals. In some cases, objectives may be understood in different ways by different executives. At times, objectives may be defined in such general terms that their significance for the job is not understood. (...)
(...) In practice, many businesses run either without any commonly accepted objectives and goals or with conflicting objectives and goals. In some cases, objectives may be understood in different ways by different executives. At times, objectives may be defined in such general terms that their significance for the job is not understood. (...)
Corporate Strategic Direction and Strategy Development (06/06/2007)
(...) Corporate direction should focus in general on continually strengthening the company’s economic or market position, or both, in some substantial way. For example, Dow was not immobilized by existing industry relationships, current market shares, or its past shortcomings. compete and where they should come from, (b) the changes in the corporation’s functional and cultural biases that must be accomplished, (c) the unique contributions that are required of the corporation (top management and staff) to support pursuit of the new direction by the SBUs, and (d) a guiding notion of the timing or pace of change within which the corporation should realistically move toward the new vision. (...)
(...) Corporate direction should focus in general on continually strengthening the company’s economic or market position, or both, in some substantial way. For example, Dow was not immobilized by existing industry relationships, current market shares, or its past shortcomings. compete and where they should come from, (b) the changes in the corporation’s functional and cultural biases that must be accomplished, (c) the unique contributions that are required of the corporation (top management and staff) to support pursuit of the new direction by the SBUs, and (d) a guiding notion of the timing or pace of change within which the corporation should realistically move toward the new vision. (...)
Defining the Business Mission (06/06/2007)
(...) According to Levitt’s thesis, the mission of a business should be defined broadly: an airline might consider itself in the vacation business, a publisher in the education industry, an appliance manufacturer in the business of preparing nourishment. Recently, Levitt’s proposition has been criticized, and the question has been raised as to whether simply extending the scope of a business leads far enough. The Boston Consulting Group, for example, has pointed out that the railroads could not have protected themselves by defining their business as transportation: Unfortunately, there is a prevalent notion that if one merely defines one’s business in increasingly general terms such as transportation rather than railroading the road to successful competitive strategy will be clear. (...)
(...) According to Levitt’s thesis, the mission of a business should be defined broadly: an airline might consider itself in the vacation business, a publisher in the education industry, an appliance manufacturer in the business of preparing nourishment. Recently, Levitt’s proposition has been criticized, and the question has been raised as to whether simply extending the scope of a business leads far enough. The Boston Consulting Group, for example, has pointed out that the railroads could not have protected themselves by defining their business as transportation: Unfortunately, there is a prevalent notion that if one merely defines one’s business in increasingly general terms such as transportation rather than railroading the road to successful competitive strategy will be clear. (...)
The objectives and goals of a business (06/06/2007)
(...) The word profit has been traditionally used instead of measurement. But, as is widely recognized today, a corporation has several corporate publics besides stockholders; therefore, it is erroneous to use the word profit. On the other hand, the company’s very existence and its ability to serve different stakeholders depend on financial viability. (...)
(...) The word profit has been traditionally used instead of measurement. But, as is widely recognized today, a corporation has several corporate publics besides stockholders; therefore, it is erroneous to use the word profit. On the other hand, the company’s very existence and its ability to serve different stakeholders depend on financial viability. (...)
Setting SBU objectives (06/06/2007)
(...) Before finalizing the objectives, it is necessary that the executive team show a consensus; that is, each one should believe in the viability of the set objectives and willingly agree to work toward their achievement. A way must be found to persuade a dissenting executive to cooperate. For example, if a very ambitious executive works with stability-oriented people, in the absence of an opportunity to be creative, the executive may fail to perform routine matters adequately, thus becoming a liability to the organization. (...)
(...) Before finalizing the objectives, it is necessary that the executive team show a consensus; that is, each one should believe in the viability of the set objectives and willingly agree to work toward their achievement. A way must be found to persuade a dissenting executive to cooperate. For example, if a very ambitious executive works with stability-oriented people, in the absence of an opportunity to be creative, the executive may fail to perform routine matters adequately, thus becoming a liability to the organization. (...)
Establishing strategy selection (06/06/2007)
(...) The interaction among these three factors is rather complex. For example, the corporation factor impacts marketing strategy formulation through (a) business unit mission and its goals and objectives, (b) perspectives of strengths and weaknesses in different functional areas of the business at different levels, and (c) perspectives of different products/markets that constitute the business unit. Competition affects the business unit mission as well as the measurement of strengths and weaknesses. (...)
(...) The interaction among these three factors is rather complex. For example, the corporation factor impacts marketing strategy formulation through (a) business unit mission and its goals and objectives, (b) perspectives of strengths and weaknesses in different functional areas of the business at different levels, and (c) perspectives of different products/markets that constitute the business unit. Competition affects the business unit mission as well as the measurement of strengths and weaknesses. (...)
Business Key Variables (06/06/2007)
(...) Even within a single company, factors may vary according to shifts in industry position, product superiority, distribution methods, economic conditions, availability of raw materials, and the like. Therefore, suggested here is a set of questions that may be raised to identify the key success factors in any given situation: 1. What things must be done exceptionally well to win in this industry? In particular, what must we do well today to lead the industry in profit results and competitive vitality in the years ahead? 2. (...)
(...) Even within a single company, factors may vary according to shifts in industry position, product superiority, distribution methods, economic conditions, availability of raw materials, and the like. Therefore, suggested here is a set of questions that may be raised to identify the key success factors in any given situation: 1. What things must be done exceptionally well to win in this industry? In particular, what must we do well today to lead the industry in profit results and competitive vitality in the years ahead? 2. (...)
What is SBU strategy (06/06/2007)
(...) In the mature stage, attempts are made to orient products to specific segments. During the aging stage, the product line begins to shrink. Going through the four stages of the industry life cycle can take decades or a few years. (...)
(...) In the mature stage, attempts are made to orient products to specific segments. During the aging stage, the product line begins to shrink. Going through the four stages of the industry life cycle can take decades or a few years. (...)
Business strategy evaluation (06/06/2007)
(...) Appropriate time horizon. Suitability Strategy should offer some sort of competitive advantage. In other words, strategy should lead to a future advantage or an adaptation to forces eroding current competitive advantage. (...)
(...) Appropriate time horizon. Suitability Strategy should offer some sort of competitive advantage. In other words, strategy should lead to a future advantage or an adaptation to forces eroding current competitive advantage. (...)
Products life cycle (06/06/2007)
(...) Introduction is the period during which initial market acceptance is in doubt; thus, it is a period of slow growth. Profits are almost nonexistent because of high marketing and other expenses. Setbacks in the product’s development, manufacture, and market introduction exact a heavy toll. (...)
(...) Introduction is the period during which initial market acceptance is in doubt; thus, it is a period of slow growth. Profits are almost nonexistent because of high marketing and other expenses. Setbacks in the product’s development, manufacture, and market introduction exact a heavy toll. (...)
Portfolio matrix in a business (06/06/2007)
(...) The portfolio matrix represents a real advance in strategic planning in several ways: • It encourages top management to evaluate the prospects of each of the company’s businesses individually and to set tailored objectives for each business based on the contribution it can realistically make to corporate goals. • It stimulates the use of externally focused empirical data to supplement managerial judgment in evaluating the potential of a particular business. • It explicitly raises the issue of cash flow balancing as management plans for expansion and growth. (...)
(...) The portfolio matrix represents a real advance in strategic planning in several ways: • It encourages top management to evaluate the prospects of each of the company’s businesses individually and to set tailored objectives for each business based on the contribution it can realistically make to corporate goals. • It stimulates the use of externally focused empirical data to supplement managerial judgment in evaluating the potential of a particular business. • It explicitly raises the issue of cash flow balancing as management plans for expansion and growth. (...)
Portfolio Matrix and Product Life Cycle (06/06/2007)
(...) Too many profit producers (due to inadequate growth and excessive cash flow). 4. Too many developing winners (due to excessive cash demands, excessive demands on management, and unstable growth and profits). (...)
(...) Too many profit producers (due to inadequate growth and excessive cash flow). 4. Too many developing winners (due to excessive cash demands, excessive demands on management, and unstable growth and profits). (...)
Business portfolio approach (06/06/2007)
(...) For example, a firm may discover that the largest competitor in an industry is aggressively pursuing cost leadership, that others are trying the differentiation route, and that no one is attempting to focus on some small specialty market. On the basis of this information, the firm might sharpen its efforts to distinguish its product from others or switch to a focus game plan. As Porter says, the idea is to position the firm “so it won’t be slugging it out with everybody else in the industry; if it does it right, it won’t be directly toe-to-toe with anyone. (...)
(...) For example, a firm may discover that the largest competitor in an industry is aggressively pursuing cost leadership, that others are trying the differentiation route, and that no one is attempting to focus on some small specialty market. On the basis of this information, the firm might sharpen its efforts to distinguish its product from others or switch to a focus game plan. As Porter says, the idea is to position the firm “so it won’t be slugging it out with everybody else in the industry; if it does it right, it won’t be directly toe-to-toe with anyone. (...)
Business Organizational Structure (06/06/2007)
(...) There is no magic formula to ensure successful reorganization and, generally, no “perfect” prototype to follow. Reorganization is a delicate process that above all requires a finely tuned management sense. The discussion in this article focuses on five dimensions: (a) the creation of market-responsive organizations, (b) the role of systems in implementing strategy, (c) executive reward systems, (d) leadership style (i. (...)
(...) There is no magic formula to ensure successful reorganization and, generally, no “perfect” prototype to follow. Reorganization is a delicate process that above all requires a finely tuned management sense. The discussion in this article focuses on five dimensions: (a) the creation of market-responsive organizations, (b) the role of systems in implementing strategy, (c) executive reward systems, (d) leadership style (i. (...)
Balance the Demands of Scale and Market Responsiveness (06/06/2007)
(...) Initially, these strategic requirements seemed to set large centers against locally responsive marketing and sales units. Yet, by carefully analyzing and “rewiring” its structure, the company was able to resolve the apparent conflict cost-effectively and efficiently. Here is the approach it pursued. (...)
(...) Initially, these strategic requirements seemed to set large centers against locally responsive marketing and sales units. Yet, by carefully analyzing and “rewiring” its structure, the company was able to resolve the apparent conflict cost-effectively and efficiently. Here is the approach it pursued. (...)
Business management systems (06/06/2007)
(...) Control systems are the means through which processes are made to conform or are kept within tolerable limits. At the broadest level, they include separation of duties, authority limits, product inspection, and plan submittals. As can be seen from this brief description, systems pervade the conduct of business. (...)
(...) Control systems are the means through which processes are made to conform or are kept within tolerable limits. At the broadest level, they include separation of duties, authority limits, product inspection, and plan submittals. As can be seen from this brief description, systems pervade the conduct of business. (...)
What is CEO in a business and company (06/06/2007)
(...) To be accepted within the organization, the strategic planning process needs the CEO’s support. People accustomed to a short-term orientation may resist the strategic planning process, which requires different methods. But the CEO can set an example for them by adhering to the planning process. (...)
(...) To be accepted within the organization, the strategic planning process needs the CEO’s support. People accustomed to a short-term orientation may resist the strategic planning process, which requires different methods. But the CEO can set an example for them by adhering to the planning process. (...)
Role of the Strategic Planner (06/06/2007)
(...) The planner also coordinates the efforts of other specialists (i.e., marketing researchers, systems persons, econometricians, environmental monitors, and management scientists) with those of line management. (...)
(...) The planner also coordinates the efforts of other specialists (i.e., marketing researchers, systems persons, econometricians, environmental monitors, and management scientists) with those of line management. (...)
Return on Equity Investments: What is Fair (04/27/2007)
(...) If you are willing to guarantee the repayment and the profits, you may be able to get an investor to accept the return of her investment plus a reasonable profit of 20% or 30% on her investment, within a year or two time frame. Most entrepreneurs with the ability and assets to offer a guarantee can secure financing at a lower cost from more conventional sources. Perhaps they can pledge their assets for a straight bank loan or sell their assets and obtain money that way. (...)
(...) If you are willing to guarantee the repayment and the profits, you may be able to get an investor to accept the return of her investment plus a reasonable profit of 20% or 30% on her investment, within a year or two time frame. Most entrepreneurs with the ability and assets to offer a guarantee can secure financing at a lower cost from more conventional sources. Perhaps they can pledge their assets for a straight bank loan or sell their assets and obtain money that way. (...)
If No One Will Finance Your Business Try Again (04/27/2007)
(...) By the time he got to the fifth bank, he knew what questions the banker was going to ask and was ready with some solid answers. The banker was impressed and he got the loan. In fact, for this very reason, it’s not a bad idea to try a longshot bank first and the most likely one last. (...)
(...) By the time he got to the fifth bank, he knew what questions the banker was going to ask and was ready with some solid answers. The banker was impressed and he got the loan. In fact, for this very reason, it’s not a bad idea to try a longshot bank first and the most likely one last. (...)
Benefits of Writing a Business Plan (04/26/2007)
(...) Helps You Get Money Most lenders or investors require a written business plan before they will consider your proposal seriously. Even some landlords require a sound business plan before they will lease you space. Before making a commitment to you, they want to see that you have thought through critical issues facing you as a business owner and that you really understand your business. (...)
(...) Helps You Get Money Most lenders or investors require a written business plan before they will consider your proposal seriously. Even some landlords require a sound business plan before they will lease you space. Before making a commitment to you, they want to see that you have thought through critical issues facing you as a business owner and that you really understand your business. (...)
Do You Really Want to Own a Business (04/26/2007)
(...) Lifestyle Change. Many people find that while they can make a good income working for other people, they are missing some of life’s precious moments. With the flexibility of small business ownership, you can take time to stop and smell the roses. (...)
(...) Lifestyle Change. Many people find that while they can make a good income working for other people, they are missing some of life’s precious moments. With the flexibility of small business ownership, you can take time to stop and smell the roses. (...)
Be Sure You Like Your Business (04/26/2007)
(...) Who is going to meet customers, keep the articles, answer the phone and let potential customers know you are in business? If you hate all these activities, you either have to work with someone who can handle them, or do something else. Here’s one last thing to think about when considering how much you like your business idea. In fact, it’s a danger that threatens almost every potential entrepreneur. (...)
(...) Who is going to meet customers, keep the articles, answer the phone and let potential customers know you are in business? If you hate all these activities, you either have to work with someone who can handle them, or do something else. Here’s one last thing to think about when considering how much you like your business idea. In fact, it’s a danger that threatens almost every potential entrepreneur. (...)
Forecast Gross Profit for a StartUp Business (04/26/2007)
(...) 4.Subtract the total cost from the selling price to derive the gross profit from each sale of that item. 5. (...)
(...) 4.Subtract the total cost from the selling price to derive the gross profit from each sale of that item. 5. (...)
Taste, Trends and Technology: How Will the Future Affect Your Business (04/25/2007)
(...) To continue this metaphor, let’s now assume the economic train has three engines: taste, trends and technology. Together they pull the heavy steel cars which can give you a comfortable ride or flatten you. Let’s take a moment to think more about each of these engines. (...)
(...) To continue this metaphor, let’s now assume the economic train has three engines: taste, trends and technology. Together they pull the heavy steel cars which can give you a comfortable ride or flatten you. Let’s take a moment to think more about each of these engines. (...)
Common Money Sources to Start or Expand a Business (04/27/2006)
(...) I recommend never financing a business with only borrowed money, even if it’s possible. If you’re starting a new business and use your own money or sell equity, you can make your inevitable start-up mistakes cheaply and survive to borrow money later, when you know how better to use it. My general rule is that you should borrow less than half of the money you need, especially if you’re starting a new business. (...)
(...) I recommend never financing a business with only borrowed money, even if it’s possible. If you’re starting a new business and use your own money or sell equity, you can make your inevitable start-up mistakes cheaply and survive to borrow money later, when you know how better to use it. My general rule is that you should borrow less than half of the money you need, especially if you’re starting a new business. (...)
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