Start your own business and hire yourself Insider tips for successful self-employment in any economy
Book - 2010
Saved in:
- Subjects
- Published
-
Indianapolis, IN :
JIST Works
c2010.
- Language
- English
- Main Author
- Physical Description
- vii, 199 p. ; 23 cm
- Bibliography
- Includes index.
- ISBN
- 9781593577445
- Introduction
- The Increasing Importance of Independent Contractors
- Starting a Business Is Not a Get-Rich-Quick Scheme
- Where Do You Begin?
- The Seven Secrets of Highly Successful Entrepreneurs
- Chapter 1. There's No Time Like the Present to Start Your Business
- Becoming a Consultant in Your Field
- The Benefits of a Down Economy
- New Assets and Costs Are Cheapter Than Ever
- Store Fixtures Are Available
- Finding a Winning Business Idea in a Recession
- Proactive Marketing Is the Key
- Driving Sales and Extending Credit When Money Is Tight
- Chapter 2. Getting into the Game: Researching Your Options
- Weighing Your Options
- Buying an Existing Business
- Have You Looked at a Franchise?
- Network Marketing Business
- Work at Home and Make Big Money
- The Phenomenon of Online Selling
- Consider Industry Conditions and Your Future Goals
- Industry Conditions
- What Are Your Future Plans?
- Chapter 3. Myself, Inc.: Developing Your Business Plan
- First, Determine Which Legal Entity to Use
- Sole Proprietorships
- Would a Partnership Protect You?
- Limited Liability Company: A Simple and Legal Solution
- Becoming a Corporation
- Writing the Sections of Your Plan
- Executive Summary
- Market Analysis
- Sources of Revenue
- Operating Strategy
- Management
- Pro-Forma Financials
- This Document Is a Roadmap
- Chapter 4. Setting Your Budget and Getting Funding in Tough Times
- Question #1: How Much Money Do You Need?
- Getting Money Without a Loan
- Have You Thought About Bartering?
- Can You Co-venture with an Existing Entity?
- Negotiating Back-End Payments
- Using Credit Wisely
- Getting Loans
- One Size Does Not Fit All: The Business Loan
- Non-traditional Sources of Loans
- Do Not Let Money Stop You
- Chapter 5. Keeping Score: A Brief Introduction to Accounting Basics
- Cash or Accrual?
- Profit-and-Loss (P&L) Statements
- Fixed and Variable Expenses
- Why It's Important to Understand a P&L
- Use the P&L to Set Pricing Standards
- Analyzing Sales
- Balance Sheets
- Other Insights from Your Balance Sheet
- Business Liquidity (Solvency)
- Why a Balance Sheet Matters
- Account Agings: Another Trend to Watch
- Break-Even Analyses
- The Value of Understanding Finance Is Critical
- Chapter 6. Knowing the Market and Hiring the Best Customers
- Defining Your Customer Base
- The 25 Percent Concept
- Start with a Competitive Analysis
- How Do You Define Customers for a Service Company?
- Differentiating Your Company
- Sending Messages to Customers
- Name and Logo
- Decor and Merchandising
- Is Your Communication Directed at the Right Person?
- Networking for Business
- When to "Fire" a Customer
- Can You Change Your Direction Midstream?
- Take Time to Find Good Customers
- Chapter 7. Smart Marketing: Don't Spend Thousands to Make Hundreds
- What Is the Value of Each Customer?
- Where Do You Begin with Marketing?
- Where Should a New Company Invest Its Early Marketing Dollars?
- How Much Should You Spend on the First Day?
- Be Judicious with Grand-Opening Specials
- Client-Retention Programs
- PR: Getting Someone Else to Talk About You
- Guerilla Marketing-What Does That Mean?
- The Goal Is a Return That Meets the Expense
- Chapter 8. Making a Profit
- How Do You Set Your Prices?
- Influences on Pricing Decisions
- What Is a Reasonable Profit Margin?
- How Are You Viewed in Relation to the Competition?
- How Supply and Demand Affect Prices
- Find a Niche and Fill It
- Cutting Prices to Drive Volume: A Good Idea?
- A Sample Exercise
- Try Adding Value and Raising Prices
- Moving a Company from a Loss to a Profit
- Pricing Strategy for Consultants or Other Independents
- The Psychology of Pricing
- The Secret About Profits
- Chapter 9. Whose Money Is It, Anyway? Keeping Business and Personal Finances Separate
- Keeping Business and Personal Assets Separate
- How Much Should You Pay Yourself?
- Don't Put in More Money to Cover a Loss
- The Business Is Not Your Piggy Bank
- Don't Pay Company Bills with Your Own Money, Either
- Giving Credit Where Credit is Due
- Giving Personal Guarantees
- Don't Take Business Credit Personally
- A Sale Isn't Complete Until It Is Paid
- Getting the Money
- Invoice Timely and Accurately
- Enforcing Collections
- When Your Family Is Involved
- Build Your Assets and You Will Reap Rewards
- Chapter 10. Secrets for Continuing Business Success
- Don't Create a Monster That You're Not Prepared to Feed
- Are You Really Comfortable with People?
- Are You Strong at Meeting the Needs of Many?
- A Successful Business Is a Team Sport
- Maintain Good Relationships with Vendors
- The Care and Feeding of Your Local Banker
- Employees Build Your Company
- Be a Good Community Citizen
- Even if You Didn't Invent It, You Can Improve It
- Don't Get So Deep into the Forest That You Can't See the Trees
- Always Keep Two Sets of Books
- Keep Up Your Business Plan
- Chapter 11. Exit...Stage Left: Planning Your Business Exit Strategy
- Exit Strategies
- Selling the Company
- Grooming a Successor
- Merging with Another Company
- Creating Greater Value in the Business
- What Are the Different Ways to Value Your Company?
- Putting Your Company into Play
- The Moment of Truth: Closing the Deal
- Life Goes On
- Epilogue
- Keep an Eye on the Hot Trends
- The Secrets of Starting a Successful New Venture
- Watching a New Idea and a New Owner Catch Fire-Or Not
- One That Worked
- One That Didn't
- Success Doesn't Take Rocket Science
- Using Technical Skills to Start a Business
- Becoming a Consultant or Coach
- Business Ownership Does Not Work for Everyone
- The Joy of Having Your Own Business
- Appendix A. Glossary of Business and Accounting Terms
- Appendix B. Sample Business Plan
- Executive Summary
- Market Analysis
- Sources of Revenue
- Operating Strategy
- Management
- Pro Forma Financials
- Index