Good Information Articles

Beware! A Big Contract Could Destroy Your Business If You Don't Avoid This Common Mistake

Beware! A Big Contract Could Destroy Your Business If You Don't Avoid This Common Mistake

by Joel Block, http://www.growmyrevenue.com Tom, a former Fortune 500 senior executive had a vision. He'd pulled together a team and invested a great deal of energy, time, money and resources into building what promises to be a remarkably profitable business. They were ready to roll out this promising new venture.

I listened with great interest as he shared his excitement about the upcoming roll-out of his new product with me over breakfast. All the pieces appeared to be in place. This was a major accomplishment. It was his first attempt at building a start-up business and one he could be rightly proud of.

Tom was certain his new product would be perfect for Fortune 500 companies like the one he had worked at. Financial models, PowerPoint presentations, and spiral bound presentations were all ready for the roll out. Everything was going according to plan. Everything was absolutely perfect.

I congratulated him on his successes and listened to him recount the rest of the story?

He was about to give away the store!

Tom decided that he could outsource much of the production work to an outside vendor. He found an off-shore enterprise in Asia who seemed to be ideal. The vendor was obviously excited by this opportunity and immediately agreed to advance a substantial amount of capital to ramp up its outsourcing capabilities. In the process, this vendor began to posture the business in such a way that Tom and his company would receive commissions for sales of the product. Tom didn't see a problem with this. He felt as long as he was making a profit everything would be perfect.

Tom was at a crossroad that, all too frequently, is a defining moment that determines whether an entrepreneur will succeed or fail. He was on the verge of giving up control of his company. In his excitement, he didn't even see the danger.

I explained. If Tom agrees to accept a commission on future sales, no matter how large that commission might be, he might make a very nice profit in the short term. But, he would be giving up control of his business.

This would give the vendor the option of restructuring the business and replacing the sales department (him). It would be much better if Tom simply paid the vendor for delivery on orders. This way he would maintain control of his business and the ability to change vendors if it should be necessary.

The Bottom Line: It's always better to control your destiny than to be at the mercy of someone else. After all, isn't that the reason that you've started your own business?

This article was written by Joel Block, http://www.growmyrevenue.com

Joel Block is called the Growth Architect by his clients and he is well-known and respected in his field both nationally and internationally. Joel delights in the challenge of starting businesses, growing them, and helping them realize their highest potential. To grab your own free copy of his Successful Entrepreneur's Toolbox ($79 value), visit Joel's site at: http://www.growmyrevenue.com.

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

MORE ARTICLES:

Internet Based Business: How Single Parents Could Earn Extra Income For The Entire Family
Are you a single parent who has been trying to support your children on a single income? If you have been having so much trouble making both ends meet with your present income, you might want to earn some extra money by setting up an internet based business. A big family with children can be very expensive and you definitely will need to earn some extra money to keep everyone comfortable. Having some extra money could really do wonders for you and your small children so you better start exploring other means of getting extra money for your children through an internet based business.

New Home Based Travel Businesses and Training Available for Retirees and Work-At-Home Parents
Affordable training is now being offered for those wishing to set up their own home based travel businesses. Program offers participants everything they need to get started quickly and affordably in this exciting market.

The Best Internet Connection For A Top Home Internet Business
When it comes to working at your home business one of the most important things you will need is internet access Having a fast and relatively error free Internet connection is imperative for a person to be successful in working at home

Work From Home - Online Resource Center for Home Based Online Jobs and Internet Based Business
Welcome to Work from Home?s ?an online guide and resource website to help you Start and grow your Home based Job and Business. Please note that we are only offering information on Work from Home Jobs and Business opportunities. We are not offering you a job or a business tie-up. Please read through the website as you will find valuable information and resources to start and grow your home based business. www.homebasedonlinejobs.com

Family Circus - Make Time For Family With An Internet Business
Sometimes, it seems like you don?t have a full 24 hours in a day. Between work, family, and sleep, there is no time for anything else. You never seem to have five minutes to relax, and on days when work requires overtime, you lose time with your family. In fact, it seems you never spend quality time with your children anymore. One way to get your life back under your control and manage time better is to start your own internet business. With an online business opportunity, you can decrease your work hours overall, as well as become more flexible and available for your family.

Home Internet Business Opportunities: Reinvent Your Family
Think about your daily job, daily responsibilities, time spent at meetings, driving your kids to this activity and that sporting event, meal planning and preparation, house cleaning, on and on with our grossly busy lives, and what time is left for our family? Do you really think that 9-5 JOB is the answer to all of our hopes and dreams? Do you really think it was our personal goal to spend the majority of our lives at work? When was the last time you saw your son/daughter play in that school volleyball game or run in their cross country meet? Isn?t it time to put your family first?

Online Magazine is Home to the Best Travel Writing on the Internet
For the second year in a row, SoGoNow.com is the home to the best travel article written for the internet as judged by the North American Travel Journalist's Association.

Family Travel at its Finest - European Villa Rentals Perfect for the Whole Family
Parents can easily find family friendly villa rentals in Europe with Rentvillas.com.

Making Time For Your Family and a New Internet Home Business
Starting your own internet home business can be a very fulfilling experience. It offers many new and exciting challenges, with the hopes of providing financial security for you and your family.

Sales of Children's Travel Bed Soar as Summer Travel Hits
Gentle Air has seen an increase in summer travel sales due to hotels at popular summer attractions charging high prices for rollaway beds and cots.

Home Based Internet Marketing Business - Staying Organized In Your Home Office
When working from home there is nothing more frustrating than not being able to find things when you need them. While most home business entrepreneurs see themselves as never having any time, you have to spend some of your time to organize things. If you can't daily, you should at least try for once a week, you should set aside some time to put things where it should be. Allot of people have a saying that there is a spot for everything and everything must be in its assigned place.

Children's Home Society & Family Services Receives Reaccreditation to Once Again Facilitate Adoptions in Russia
Children's Home Society & Family Services, a Minnesota-based international adoption service provider, announced today it has been re-accredited by the Ministry of Education and Science of the Russian Federation to facilitate adoptions in that country.

Internet Home Based Business : Legitimate Work at Home Jobs Opportunities and Advantages
There are many advantages involved in choosing an internet home based business as your primary or secondary source of income Use these benefits to find a legitimate work at home jobs that suits your needs and desires

SoGoNow.com -- Home of the Best Travel Article Written for the Internet in 2006
SoGoNow.com travel magazine announced that frequent contributor Linda Fasteson has won First Prize for the Best Travel Article Written for the Internet from The North American Travel Journalist Association.