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Thread: Some more good advice

  1. #1
    Join Date
    Mar 2005

    Default Some more good advice

    - Develop a good strategy. You cannot be all things to all people. Are you going to create & sell a modular mass-produced item cheaply and make your money in volume or is your product going to be highly customizable with lots of extras and hands-on service offered by your firm? You cannot be both!

    - Once you have your winning strategy, do not be too quick to change it. Let your strategy play out; benefits may take a while to come in, but if you are too busy changing the way you do business, you will never get to reap the benefits. Think: if you plant a seed one day, and then dig it up the next to plant a different seed, and then dig that seed up the following day, you will never get to harvest a crop.

    - Focus on your core competencies. Anything that is not core to your operation, outsource it to another firm that specializes in that area. If you are a shirt manufacturing company, your payroll department may not be essential and core to your business. There may be a firm that handles payroll for other firms as its specialty, and can do it cheaper and more efficiently than you can, allowing you to focus your time & resources on your own core specialty; making shirts in this example.

  2. #2
    Join Date
    Mar 2005


    thanks for the advice.. will be helpfull for people with their business'/ideas


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