A small
Table of Contents
Introduction 2
About This Book 3
About You 4
About the Icons 4
Project 1: Get Down to Basics 5
Entrepreneurship Explained 5
Discovering What’s Awesome about Being an Entrepreneur 6
Freedom 7
Time 8
Money 8
Understanding Why Entrepreneurship Isn’t Always Awesome 9
Money 10
Time 10
Freedom 11
Looking at Common Traits of Successful Business Owners 12
Background 12
Personality 13
Attitude 14
Comparing a Job to Owning a Business 16
Stability 16
Security 17
Project 2: Find Your Big Idea 19
Ideas for Creating Ideas 19
Prepare for your idea session 20
Write until your hand hurts 20
Look at your world with different eyes 22
Look into the future 24
Think about what you love to do 25
Pick the Best Idea 26
Look at risks and rewards 27
Consider hidden risks 29
Hidden rewards 29
Make a list of pros and cons 29
Listen to your gut 30
Are you excited? 31
What does that little voice say? 31
Pick a winner 32
Project 3: Make a Plan 33
The Purpose of a Business Plan 34
Who will see it 34
What it should tell them 35
Starting Your Business Plan 35
Planning Your Plan 36
Overview: What, Where, and When 37
What your business will do 37
Product versus service 38
Inventory and hours 39
Where you’ll sell your products or services 40
Going to them or staying put 40
Consider your location within your market 41
How you’ll know it’s time to start 41
Market: Who, Why, and How 42
Who will buy from you 42
Age, location, and other “demographics” 43
Where are they buying now? 44
Why they will want to buy from you 45
Your unique advantage 46
Who are my customers? 47
Marketing: Communicating Your Advantage 49
Processes: How You’ll Deliver 51
Resources needed 51
Processes 52
Project 4: Know What to Do with Your Shiny New Business Plan 53
It’s Alive! (Well, a “Living” Document) 54
Plan for Change 56
Example 1: Two challenging changes 56
Example 2: A positive change 57
Preparing for change 58
Keep It Handy and Give It Attention 59
How Are You Doing? 59
Project 5: Budget for Success 60
Profit, Cost, and Sales 61
Costs 61
Sales 62
Decide How Much to Charge 62
Competition 62
Your costs 64
Don’t forget your time 66
Figure Out Your Profits 67
Keep Track of Your Money 69
How much in, how much out? 69
How to manage what’s left over 72
Reinvesting 73
Project 6: Plan Your Marketing 74
Promoting Your Business 74
Getting Started with Your Marketing Plan 76
Step 1: Find Your Market 76
Step 2: Reach the Right Audience 80
Step 3: Choose the Right Type of Marketing 81
Getting Creative 82
Words That Sell! 82
Project 7: Set Up Shop 84
Delivering Your Product or Service 85
Before the Sale 86
Sales is part of the job 87
The meaning of closing 89
Doing What You Do 90
Deliver quality 91
Time and promises 92
After the Sale 94
Appreciate your customers 95
Follow up 96
Anticipate Unplanned Hiccups 98
When something goes wrong 98
Be optimistic 99
Be realistic 101
Fix problems on the fly 101
Don’t wait 102
Figure it out and take action 102
Make it right 103
Remember your customers’ needs 104
Think of what’s best for the business 105
Project 8: Service 101 106
Without Great Service, Nothing Else Matters 106
Customer Service 107
Customer Service Is Important! 108
Why We Love Customers 109
Put Yourself in Their Shoes 109
Customer Service Is More Than Just Being Friendly 111
Providing what your customers want 111
Listening to feedback 112
Handling Customer Complaints 112
Calm, cool, and collected 113
Turn a complaint into a win 115
Words of Encouragement 116
Glossary 118
