Description
Book SynopsisA new 25th anniversary update of the entrepreneur''s bible
For twenty-five years, entrepreneurs have relied on this friendly, comprehensive guide to the basics of successfully operating a small business. Now, this new Fourth Edition of How to Start, Run & Stay in Business completely updates the bestselling classic for today''s entrepreneur. It features all the reliable, straightforward advice readers expect and also includes entirely new information on online business and marketing as well as new Internet resources.
Material on legal and financial issues, international business, customer service, and state and federal tax regulations has been fully revised. Plus, new charts, illustrations, questionnaires, and checklists make the book more practical and useful than ever. Inside, you''ll find world-class guidance on every vital aspect of small business success, including:
* Preparing a business plan
* Finding the right location
* Deciding on an
Table of ContentsPreface ix
1 Getting Started 1
What’s in It for Me? / Do I Have What It Takes? / Goal Setting / What Kind of Business? / Starting versus Buying a Business / Checklist for Going into Business
2 Preparing Your Business Plan 17
When to Use a Business Plan / The Plan / Planning Resources / Guidelines for Successful Planning / Planning Checklist
3 Determining the Best Location 29
Choosing the Community / Choosing the Site / The Environment / Making a Traffic Count / Geographic Information Systems Mapping / Rating the Site
4 Your Building 41
Looks / Livability / Layout / Amenities / Rating Your Building
5 Structuring the Business 50
Sole Proprietorship / Partnership / Corporation / Limited-Liability Company / Government Regulation / Structuring the Business Checklist
6 Recordkeeping and Taxes 72
The Value of Good Records / Recordkeeping Systems / Taxes / Tax-Related Decisions / Recordkeeping and Taxes Checklist
7 Financial Statements 84
Summarizing Financial Data / The Importance of Financial Statements / The Balance Sheet / The Income Statement / Interpreting Financial Data / Financial Ratio Checklist
8 Obtaining Capital 95
Determining Your Initial Investment / Sources of Capital / Venture-Capital and Angel Resources / SBA Business Plan Questionnaire / Financing Checklist
9 Inventory and Distribution 116
Controlling Your Inventory / The Optimum Level of Inventory / Merchandise Turnover / Universal Product Codes / Just-in-Time Management / Inventory Shrinkage / Managing Your Distribution Network / Inventory and Distribution Checklist
10 Setting the Price 130
Pricing and Customers / Pricing and Competition / Pricing and the Economy / Pricing and Profit / Pricing Methods / More about Markups / Pricing Strategy / Pricing Strategy Checklist
11 Staffing 141
Analyze Each Job / Prepare Job Descriptions / Check Recruitment Sources / Use Application Forms / Conduct Interviews / Verify Information / Make the Hiring Decision / Outsourcing / Staffing Checklist
12 Managing and Motivating 157
Developing Your Own Management Style / Knowing When to Delegate / Finding Ways to Motivate / Developing a Corporate Culture / Running an Ethical Business / Leadership Checklist
13 Developing Your Promotional Strategy 169
Advertising / Publicity / Public Relations Resources / Preparing an Advertising Budget / Promotional Strategy Checklist
14 Selling and Servicing 191
A Positive Approach to Selling / Maintaining Good Customer Relations / Staying Organized / Customer Service Checklist
15 Safeguarding Your Business 205
Risk Management / Types of Insurance Coverage / Recognizing Warning Signals / Insurance Checklist
16 International Marketing 218
Why Go Global? / Evaluating Foreign Markets / Utilizing Market Research Data: Secondary versus Primary Data / Sources of Information / Choosing Your Entry Strategy / International Marketing Checklist
17 Franchising 234
The Definition of Franchising / The Price / The Advantages and Disadvantages of Franchising / The Franchise Agreement / How to Find Franchise Opportunities / Evaluating a Franchise / Franchising Checklist
18 Getting Help 245
Sources of Outside Help / Accountants / Advertising Agencies / Attorneys / Bankers / Chambers of Commerce / Colleges and Universities / Government Agencies / Insurance Agents / Libraries / Management and Marketing Consultants / Temporary Help Services / Trade Associations / Website Designers/Managers / Publications / SBA Field Offices / Small Business Development Centers (SBDCs) / Small Business Resource Websites
Index 275
