Description
Book SynopsisPlan B should be MANDATORY reading before you ever consider creating a business. It was written to provide the “business readiness” needed for those who have no successful entrepreneurial experience. You will learn the good, bad, and ugly about each of the four ways to create a business (start a business, buy a business, buy a franchise, and network marketing.) You will learn what due diligence you must do before you start spending your time and your money.
Plan B answers the three IF questions: If you have what it takes to create a business. If you really want to start a business now that you know what it will take. If you want to create one independently or with a team.
Then it answers the WHAT NEXT questions as you determine the best
Plan B option for you and for your preferred work lifestyle.
It ensures you are ready for the journey. You understand some of the rabbit holes that lie ahead, and the resources your will need so you won’t be in the 80% of new businesses that fail in the first three years. Instead you will be part of the 20% with long term success.
Through numerous examples, assessments, and stories of business successes and failures you will know if you are ready. You will be able to engage both your head and your heart for the thrilling adventure of creating your
Plan B. Kathleen shows you how.
Trade Review""No hype or theory here.
Plan B gives you the good, the bad, and the ugly about the four ways to create a business. Kathleen offers you the secrets most new business owners don't know until it's too late. You learn what lies ahead so you can start with your eyes wide-open.""
-Joe Pici, Speaker, Trainer, Author
Sell Naked on The Phone""As a long-time promoter of strategic and tactical planning, I have always advocated the need for a ""Plan B"" (and, sometimes, a Plan C and a Plan D), I am delighted to recommend Kathleen's
Plan B book. It is chock full of practical ideas for making your business dreams come true. Buy it; study it, and don't lend it out.""
-George Morrisey, Author
Creating Your Future: Personal Strategic Planning for Professionals and
Morrisey on Planning.
Table of ContentsIntroduction
A Few Rabbit Holes Can Be A Good Thing
A World of Wisdom and Tips—All in One Place
NASA Space Shuttle Program’s End Was Actually a Great Beginning—Who Knew?
Make Fewer Mistakes and Enjoy More Successes
Who Will Benefit From a Plan B?
This Real Deal Guide Shares It All—the Good, the Bad, and the Ugly
Specific Benefits of the Real Deal Guide
You Now Have What It Takes
Chapter 1
I Worked Hard, I Played by the Rules, and This Is All I Get?Why Is Plan A Not Working Anymore?
The Mythical Promise of Plan A
Financial Security Is Still Possible
How Did We Get Here?
Who Is Going to Pay the Bills When You Retire?
Social Security Benefits
Retirement Plans Designed to Benefit…Whom?
Wrap Up
Chapter 2
Is Your WHY Bigger than Your BUT?Determine Where You Are
Determining What You Are Ready to Improve
Life Values Model
Identifying What You Don’t Want and Do Want
What You Have Created So Far
Wrap Up
Chapter 3
The Real Deal about You The Hero’s Journey
Departure
Initiation
Return
It Doesn’t Take a Rocket Scientist to Launch a Plan B
Five Requirements for Successful Change
Listening to the Right People
Wrap Up
Chapter 4
There Are Many Paths to a Plan BStart Packing for Your Journey
Four Ways to Create Your Plan B
Overview of the Four Plan B Options
The Wealthy 1%
Starting Your Own Business
Buying an Existing Business
Buying a Franchise
Network Marketing
Wrap Up
Chapter 5
Thinking It Through: Avoiding the Pitfalls of Wrong (and Costly) DecisionsA Structure for Thinking Through Your Plan B
Critical Resources for All Businesses
Time
Money
Finding Your Work Lifestyle
Type of Work
Type of People
Location of Your Work
Energy Required, i.e., Your Physical and Mental Stamina
Emotional Toll
Exit Strategy
Wrap Up
Chapter 6
Six Key Ingredients of the Most Successful BusinessesFavorable Market Trends
Consumable Products or Ongoing Services
Perfect Timing
Strong Compensation or Attractive Margins
Powerful Partnerships
Unique Products or Exclusive Technology
Universal Truths for Business Success
Wrap Up
Chapter 7
The Real Deal about Starting Your Own BusinessStarting a New Business
Two Types of Start-Up Businesses
Duplication
Innovation
The Real Deal Checklist
Wrap Up
Chapter 8
The Real Deal about Buying a BusinessWhat Happens When You Ignore the Experts, the Resources, and the Information?
Buying a Business 101, and More
Advantages and Disadvantages of Buying a Business
Applying What You Have Learned
Beginning the Search
Protecting the Seller’s Information and Proving Your Financial Resources
Conducting Your Due Diligence
Meeting with the Seller
Making the Offer
Wrap Up
Chapter 9
The Real Deal about Buying a FranchiseFranchising 101
Franchises Have Many Advantages
Franchises Also Have Disadvantages
Franchise Controls and Restrictions
Four Franchise Models
Selecting a Franchise
Six Key Ingredients for Evaluating a Franchise
The Real Deal Checklist
Shopping for a Franchise
Internet Search
Shopping at a Franchise Exposition
Using a Franchise Broker
Advantages of Using a Franchise Broker
Disadvantages of Using a Franchise Broker
Finding a Franchise Broker
Interview Questions for Evaluating Brokers
Franchise Advisors Work for You
Finding a Franchise Advisor
Conduct Your Due Diligence
Should You Buy a New or an Existing Franchise?
Wrap Up
Chapter 10
The Real Deal about Network MarketingGiving You the Real Deal Guide on Network Marketing
Network Marketing Advantages
Network Marketing Disadvantages
Network Marketing: Ponzi Scheme, Pyramid Scheme or Path to Profit?
Network marketing Controls and Restrictions
Network Marketing 101
Percent of Sales by Major Product Groups
Is Network Marketing the Best Plan B Option for Me?
Six Key Ingredients for Evaluating a Network Marketing Company
Use the Real Deal Checklist to Evaluate a Network Marketing Company
The Two Methods to Make Sales in a Network Marketing Company
How Network Marketing Sales are Typically Made
Typical Network Marketing Compensation Plans
Due Diligence for Selecting a Network Marketing Company
What to look for in a company
Selecting Your Up-Line
Up-Line Due Diligence Checklist
Wrap Up
Chapter 11
Putting Your Plan B into ActionPlan B Success Stories
Get Busy Narrowing Your Options
Plan B Option You Are Evaluating
Researching Your Chosen Plan B Option
Starting a Business
Buying a Business
Buying a Franchise
Network Marketing
Veterans, Active Military, and Trailing Spouses
Wrap Up
The Increasing Popularity of Plan B
Appreciation & Acknowledgements
Resources and Offers
About the Author
Index
