Hearing from entrepreneurs that have “been there and done that” can be inspirational and instructional. This section contains that kind of information.
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Even on the Internet, says the founder of a company that provides online directories for e-businesses, most new business models are really variants or hybrids of the three basic old ones. To gain competitive advantage in the new economy, what entrepreneurs really need is a low-cost customer-acquisition strategy. And, they face increasing pressure from investors to be right the first time.
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The importance of a comprehensive, thoughtful business plan cannot be overemphasized. Much hinges on it including achievement of your goals and objectives.
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This tool will help you identify areas in your plan that need additional atttention before it is complete.
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Effective business planning is critical to an entrepreneurial company's long-term success and its ability to raise capital and grow successfully. A properly prepared Business Plan should tell a story, make an argument and conservatively predict the future. All companies have different stories to tell, different arguments to make and different futures to predict, so they must resist the temptation to copy from others or to follow a rigid outline.
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A business plan for entrepreneurs should engage the heart as well as the head, writes the author, who advises two plans-the formal document for bankers and investors, and then, the business plan that comes from your heart.
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The business strategy should be refined on a regular basis, at least annually, to incorporate changes that keep your business on its growth track.
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This tool can be used by the entrepreneur throughout the planning process to evaluate the business strategy's compatibility with the overall plan for growth.
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The heirs of sole proprietors are especially vulnerable to estate issues involving a relativeand#39;s business. The principal can avoid these issues while alive by some straightforward planning with a tax accountant and attorney.
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This article, published by a law firm, details the major components typically involved in the buying and selling of a company, including the purchase and sale agreement, confidentiality agreement, and letter of intent.
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In becoming a teacher, former CEO Jim Ellis says he gained much more than he lost.