They didn't teach this in business school

Schaeffer, Ronald D.
July 2006
Industrial Laser Solutions;Jul2006, Vol. 21 Issue 7, p29
The article offers steps on how to start a business. The first step is to have a marketing plan. A good plan must reflect how much a job will cost and how long it will take. The objective of marketing is to grow the business. The 80/20 observation can be 80 percent of revenue that comes from 20 percent of customers or 80 percent of profits that come from 20 percent of customers. The final observation is that 40 percent of profits should be allotted to federal, state and local taxes.


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