If you’ve answered, “The competition,” then you’re not alone.
The 2016 NFIB report “Small Business Problems & Priorities” ranked the top 75 problems of small businesses in the U.S. Competition from large businesses was ranked as number 31, after a range of financial, regulatory and tax-related issues.
Source: 2016 NFIB Small Business Problems & Priorities
In addition, competition from Internet businesses was ranked as number 63 and competition from imported products was ranked as number 65.
Clearly, competition is something that keeps entrepreneurs and small business owners up at night.
But what if we told you there’s a way to create your own market — one without any competition at all?
Well, the good news is that there is!
And that requires creating a blue ocean strategy.
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Entrepreneur Buzzword: Blue Ocean Strategy
By Susan Fennema
A good project proposal is necessary to the success of your project. It defines the scope. It provides the budget. Lastly, it sets the timeline. In other words, your project proposal sets the tone and expectations for your project.
A project proposal should minimally include the following:
- goals of the project
- reasons the project is being undertaken and what the client should expect to achieve from it (think ROI)
- payment terms
- signature area
- any necessary legal language
- an expiration date for the proposal itself