9 ways to protect yourself when hiring outsiders and contractors

Article Abstract:

Business owners adopt several strategies that reduce risks on personal service agreements while monitoring completion of the assignment. Among these strategies include clearly defining the purpose and objectives of the project, setting firm dates for completion and establishing a firm overall fee and avoiding excessive payment of cash upfront. These strategies can be utilized by most service businesses, including public relation firms, advertising agencies, and office and home contractors.

Services industry, Service industries, Professional corporations

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Substitution, switching and switching costs

Article Abstract:

Suggestions to identify substitute products for a business that can threaten the market share of a product are provided. Business owners have to consider switching of business that suite the consumer preferences. Methods to keep the switching costs low are presented.

Management dynamics, Analysis, Economic aspects, Company business management, Product life cycle, Substitute products, Product lines

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Business plans

Article Abstract:

The contents of a business plan are discussed and the steps to develop a business plan are discussed from the perspective of a business owner.

Strategy & planning, Venture Analysis, Planning, Business enterprises, Company business planning

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