A Simple Business Plan Format
Almost always successfully starting a new business requires a written business plan. In the past, I have been asked for my business plan format I used to start and manage my companies. The following format helped me focus on the implementation of action plans that supported my business concepts. To start, the business plan should…
Keep readingCommon Product Development Mistakes
Many first-time engineers make common mistakes when they approach the product development process. These typically include: Not accurately estimating the cost;Not showing their prototype/s to the end user soon enough, wanting instead to hide their ideas from their customers until it’s “perfect”;Not making enough prototypes to get into the hands of multiple users. Customer feedback…
Keep readingWhy Businesses Fail
The famous line from the film Field of Dreams, “If you build it, they will come,” is commonly used by business professionals and entrepreneurs to imply that if you have a business idea and put forth the effort to create it, people will come to it. In a perfect world, it probably happens. But we…
Keep readingSMART Goal Setting
Many managers and leaders set out to improve without clearly defining how or what they hope to achieve. SMART goals, attributed to Peter Drucker’s management by objectives concept, are a time-tested way to measure a business objective. Before you start, you must decide what you want to accomplish and think about how you can apply…
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