My Official site for the Remote Control CEO is now live!
I have moved this post and all content over to my main blog at: http://www.sbishere.com/am-i-a-lazy-writer/.
I apologize for making you have to click again to read more about it but having too many blogs and posts all over the place just confused everyone including myself.
My main site is at: http://www.sbishere.com/.
Almost half of the firms that go bankrupt do so primarily because of their own deficiencies rather than externally generated problems. They do not develop the basic internal strengths to survive. This overall weakness in management when combined with a lack of market for their product is why these firms to fail.
The Good News
Yet, every one of these deficiencies is under the control of the managers and business owners and can easily be neutralized with a thorough strategy.
- Finances: create a business financial plan that includes income and expense projections, balance sheet as well as an income statement. Cash flow projections combine all three to show cash surpluses and shortfalls. Using this information allows management to make informed strategic and tactical decisions.
- Human Resources: develop a plan for the recruiting, selection, and management of human resources. This means having the right people in the right seats, at the right time.
- Marketing and Sales: every business must learn how to build a lead generation system. Qualified leads of prospects interested in your products and services.
- Product Development: also referred to as research and development, any small business can identify new opportunities. Create a practical communication plan that will engage your new and long-time customers in a conversation designed to identify trends and opportunities.
- Technology: technology today means more than just using computers and having a web site. Investigate and innovate to find new ways to apply existing technology to revitalize your business model.