Table of
Contents
PART ONE: YOU GOTTA START SOMEWHERE
Chapter 1: Introduction
Chapter 2: Pop Quiz
THE ENTREPRENEURIAL PERSONALITY
Taking The Plunge
Reality Check
YOUR STRENGTHS AND WEAKNESSES
GO FOR THE GOAL
WHAT’S YOUR EQ?
What’s The Score?
Determining Your EQ
Chapter 3: What’s The Big Idea?
Get The Juices Flowing
They Delivered
Inspiring Moments
Made To Order
NEVER SAY DIE
JUST DO IT!
Chapter 4: Time Is On Your Side...Or Is It?
Market Matters
Financial Plan
Family Affairs
Getting Personal
Decisions, Decisions
Chapter 5: Made From Scratch Or Store-Bought?
BUYING AN EXISTING BUSINESS
The Right Choice
A Closer Look
Law And Order
The Art Of The Deal
Transition Time
BUYING A FRANCHISE
Is Franchising Right For You?
Do Your Homework
Calling All Franchisees
Proven Purchase
BUYING A BUSINESS OPPORTUNITY
Legal Matters
Checking It Out
GLOSSARY
PART TWO: BUILDING BLOCKS
Chapter 6: Who Is Your Customer, Anyway?
Practicing Nichecraft
Keep It Fresh
ON A MISSION
The Write Words
Putting It All Together
GLOSSARY
Chapter 7: If I Build It, Will They Come?
WHAT IT IS, WHAT IT DOES
MARKET RESEARCH METHODS
SECONDARY RESEARCH
Associations
Government Guidance
Maps
Colleges And Universities
Community Organizations
Dun & Bradstreet
Going Online
PRIMARY RESEARCH
20 Questions
Making A List
GLOSSARY
Chapter 8: What’s In A Name?
Do It Yourself?
What’s In Your Name?
Making It Up
Making A Name
Testing, Testing
Final Analysis
Say It Loud
Chapter 9: To Inc. Or Not To Inc.
SOLE PROPRIETORSHIP
PARTNERSHIP
CORPORATION
S Corporation
Putting Inc. To Paper
Rules Of The Road
LIMITED LIABILITY COMPANY
GLOSSARY
Chapter 10: Get With The Plan
Executive Summary
Business Description
Market Strategies
Competitive Analysis
Design And Development Plan
Operations And Management Plan
Financial Factors
A Living Document
GLOSSARY
Chapter 11: Mother, May I?
FICTITIOUS NAME (DBA)
BUSINESS LICENSE
HEALTH DEPARTMENT PERMIT
LIQUOR, WINE AND BEER LICENSES
FIRE DEPARTMENT PERMIT
AIR AND WATER POLLUTION CONTROL PERMIT
SIGN PERMIT
COUNTY PERMITS
STATE LICENSES
FEDERAL LICENSES
GLOSSARY
Chapter 12: You Need Professional Help
HIRING A LAWYER
Choosing An Attorney
Cost Cutters
Making The Most Of Your Lawyer
HIRING AN ACCOUNTANT
Choosing An Accountant
Good Relations
GLOSSARY
PART THREE: WHERE’S THE MONEY?
Chapter 13: Charity Begins At Home
DO IT YOURSELF
FRIENDS AND FAMILY
The Right Source
Putting It On Paper
Taxing Matters
Keep ’Em Happy
HOW MUCH IS ENOUGH?
Chapter 14: Nothing Ventured, Nothing Gained
EQUITY BASIC
How It Works
VENTURE CAPITAL
Expecting Returns
Where The Money Is
What They Want
EARTH ANGELS
Where Angels Fly
Make The Connection
Getting The Money
GLOSSARY
Chapter 15: Can You Bank On It?
TYPES OF LOANS
SOURCES OF FINANCING
Bank On It
Commercial Finance Companies
Give Yourself Credit
APPLYING FOR A LOAN
The Loan Application
What Lenders Look For
A Loan At Last
GLOSSARY
Chapter 16: Ask Your Favorite Uncle
7(a) Loan Guaranty Program
LowDoc Program
SBA Express Program
CAPLines
Women And Minority Pre-qualification Programs
MicroLoan Program
504 Loan Program
SBICs And SSBICs
Empowerment/Enterprise Zones
8(a) Program
Export Working Capital Program
Making The Most Of The SBA
GLOSSARY
PART FOUR: SETTING THE STAGE
Chapter 17: Location, Location, Location
TYPES OF LOCATIONS
ISSUES TO CONSIDER
Style Of Operation
Demographics
Foot Traffic
Accessibility And Parking
Competition
Proximity To Other Businesses And Services
Image And History Of The Site
Ordinances
The Building’s Infrastructure
Utilities And Other Costs
Room For Growth
WHAT CAN YOU EXPECT TO PAY?
COMMERCIAL LEASES
Leasehold Improvements
Negotiating The Lease
It Still Comes Down To You
GLOSSARY
Chapter 18: No Place Like Home
CAN YOU WORK FROM HOME LEGALLY?
WILL YOU LOOK LIKE A REAL BUSINESS
IF YOU’RE AT HOME?
HEADING OFF HOMEBASED HASSLES
Chapter 19: First Impressions
OFFICE SPACE
Everything In Its Place
Putting It All Together
DESIGNING A LOGO
BUSINESS CARDS
SELECTING STATIONERY
DESIGNING YOUR SIGN
Chapter 20: Taking Stock
INVENTORY CONTROL
Maintaining Enough Inventory
Avoiding Excess Inventory
Inventory And Cash Flow
Tracking Inventory
Computerized Inventory Control
Inventory Turnover
INVENTORY ACCOUNTING
Buying Inventory
SUPPLIERS
Dealing With Suppliers
Payment Plans
GLOSSARY
Chapter 21: To Your Credit
ESTABLISHING A CREDIT POLICY
Give ’Em Credit
Payment Due
ACCEPTING CHECKS
ACCEPTING CREDIT CARDS
Merchant Status
Money Matters
Getting Equipped
ACCEPTING DEBIT CARDS
Getting Online
GLOSSARY
Chapter 22: It’s In The Mail
MAILING EQUIPMENT
Postage Meters
Postal Scales
Letter-Folding Machines
Letter-Opening Machines
Lease Or Buy?
SENDING MAIL
OVERNIGHT MAIL
GLOSSARY
Chapter 23: People Who Need People
HOW TO HIRE
Job Analysis
Job Description
Writing The Ad
Recruiting Employees
Pre-Screening Candidates
Interviewing Applicants
Checking References
After The Hire
ALTERNATIVES TO FULL-TIME EMPLOYEES
Leased Employees
Temporary Employees
Part-time Personnel
Outsourcing Options
GLOSSARY
Chapter 24: Treat Your “Children” Well
BENEFIT BASICS
Legal Matters
Expensive Errors
HEALTH INSURANCE
Cost Containment
RETIREMENT PLANS
Individual Retirement Account (IRA)
Savings Incentive Match Plan For Employees (SIMPLE)
Simplified Employee Pension (SEP) Plan
Where To Go
LOW-COST BENEFITS
EMPLOYEE POLICIES
Paying Employees
Exempt And Nonexempt Employees
Tip Credits
Overtime Requirements
WORKPLACE SAFETY
OSHA Regulations
Compliance With OSHA
Put It In Writing
DISCRIMINATORY TREATMENT?
GLOSSARY
Chapter 25: Cover Your Assets
BASIC INSURANCE NEEDS
Workers’ Compensation
General Liability
Auto Insurance
Property/Casualty Coverage
Umbrella Coverage
Business Interruption Coverage
Life Insurance
Disability Insurance
CHOOSING AN INSURANCE AGENT
Type Of Agent
Finding An Agent
INSURANCE COSTS
GLOSSARY
PART FIVE: YOU’D BETTER SHOP AROUND
Chapter 26: Stuff
COST CUTTERS
Financing Plan
When Lease Is More
WISE BUYS
Buying New Equipment
Buying Used Equipment
GLOSSARY
Chapter 27: Phoney Business
PHONE FEATURES
DETERMING YOUR NEEDS
Dealing With Salespeople
Qualifying A Vendor
Warranties, Contracts And Service Support
How Much Will It Cost?
VOICE MAIL
LONG-DISTANCE OPTIONS
Toll-Free Numbers
GLOSSARY
Chapter 28: Air Time
CELL YOURSELF
FEATURE DETAILS
HOW TO GET ONE
What Do They Cost?
Does It Come With A
Warranty?
Where Do You Get Them?
Do You Really Need One?
CHOOSING A CARRIER
GLOSSARY
Chapter 29: Hit The Road
THE LEASING OPTION
FLEET LEASING
Fleet Factors
Know Your Options
ROAD TEST
Chapter 30: Get Wired!
KNOW THE PLAYERS ON THE FIELD
LOW- OR HIGH-END SYSTEM?
COMMON PIECES AND PARTS
THE OPERATING SYSTEM
OFFICE PRODUCTIVITY SOFTWARE
Word Processing
Spreadsheets/Databases
Accounting
Presentation
Contact Management
Virus Protection
File Backup
PERIPHERAL DEVICES
Printers
Scanners
UNSUNG NECESSITIES
WHERE TO BUY?
UPGRADING YOUR COMPUTER
Chapter 31: Net Works
SOUNDS LIKE A PLAN
THE NAME GAME
WEB SITE BASICS
HANDY TOOLS
HOST WITH THE MOST
Choosing A Hosting Service
KA-CHING
Final Check
GLOSSARY
Chapter 32: Wise Buys
CHOOSING A COPIER
Photocopiers Plain And Simple
Let’s Go Shopping
Decision Time
Multifunction Machines
Digital Domains
Service First
JUST THE FAX PLEASE
The Basic Fax
Computer Faxes
GLOSSARY
PART SIX: STRUT YOUR STUFF
Chapter 33: To Market, To Market
CREATING A MARKETING PLAN
Setting An Advertising Budget
WHERE TO ADVERTISE
PRINT ADVERTISING
Headlines That Work
Ads That Stand Out
Ad Placement
RADIO AND TV ADVERTISING
Getting Help
DIRECT MAIL
Mailing Lists
Brochures
Sales Letters
Postcards
Catalogs
Newsletters
CLASSIFIED ADS
CO-OP ADVERTISING
MEASURING ADVERTISING EFFECTIVENESS
GLOSSARY
Chapter 34: Spread The Word
GETTING PUBLICITY
Talking To The Media
SPECIAL EVENTS
NETWORKING
GLOSSARY
Chapter 35: Web Weaving
A Marketing Tool
Attracting Visitors To Your Site
Keeping Visitors At Your Site
The Ad-Free Zone
GLOSSARY
Chapter 36: Show & Sell
UNDERSTANDING YOUR UNIQUE SELLING PROPOSITION
COLD CALLING
FOLLOWING UP
MAKING SALES PRESENTATIONS
Before The Presentation
In The Customer’s Office
After The Sale
Speaking Effectively
PART SEVEN: BY THE BOOKS
Chapter 37: Keep ’Em Coming Back
BUILDING CUSTOMER RELATIONSHIPS
CUSTOMER SERVICE
Interacting With Customers
Going Above And Beyond
Chapter 38: Bean-Counting 101
THE BOOKKEEPING ADVANTAGE
BASIC ACCOUNTING PRINCIPLES
ACCOUNTING SYSTEM COMPONENTS
Chart Of Accounts
General Ledger
Accounts Receivable
Inventory
Fixed Assets
Accounts Payable
Payroll
COST ACCOUNTING
UNDER CONTROL
FINANCIAL STATEMENTS
GLOSSARY
Chapter 39: Making A Statement
CREATING FINANCIAL STATEMENTS
Income Statement
Balance Sheet
Cash Flow Statement
CASH FLOW ANALYSIS
GLOSSARY
Chapter 40: Watch Your Pennies
GROSS PROFIT MARGIN AND MARKUP
Gross Profit Margin
Computing Markup
BREAK-EVEN ANALYSIS
WORKING CAPITAL ANALYSIS
BUILDING A FINANCIAL BUDGET
What Do You Budget?
How Do You Budget?
SENSITIVITY ANALYSIS
GLOSSARY>
Chapter 41: The Tax Man Cometh
FIRST THINGS FIRST
INS AND OUTS OF PAYROLL TAXES
DECLARATION OF INDEPENDENTS
SELECTING YOUR TAX YEAR
FILING YOUR TAX RETURN
SALES TAXES
TAX-DEDUCTIBLE BUSINESS EXPENSES
Equipment Purchases
Business Expenses
Auto Expenses
Meal And Entertainment Expenses
Travel Expenses
Home Office
TAX PLANNING
GLOSSARY
Chapter 42: If At First You Don’t Succeed...
BUSINESS FAILURE
Causes Of Failure
Failing To Succeed
Bouncing Back
Learning From Failure
Appendix A: Business Resources
Appendix B: Government Listings
Appendix C: Small-Business-Friendly Banks
Index
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