Table of Contents
ACKNOWLEDGMENTS
PREFACE
Follow your entrepreneurial dream
CHAPTER 1: Where Do You Start?
Are you ready to be an entrepreneur?
Why are you starting your own business?
The downside of self-employment.
Seven skills for success
Do you have management skills?
Why do businesses fail?
CHAPTER 2: How Do You Find the Right Business?
What types of businesses are available?
Which business is right for you?
Why are businesses sold?
What is a business opportunity?
How do you assess a potential business?
Seven rules for a successful purchase
CHAPTER 3: What Is a Financial Statement?
Why do we need accounting?
How do the figures get there?
What information is in a financial statement?
Accounting terms and definitions
How to analyze a financial statement
The five-minute financial test
CHAPTER 4: How Do You Research the Market?
Does your idea have market potential?
Will your business solve clients' problems?
My top ten home-based businesses
What do you research?
Where do you find research material?
CHAPTER 5: Why Do You Need a Lawyer?
What does a lawyer do?
How do you find the right lawyer?
What is a buy-sell agreement?
What if legal problems arise?
What do all those legal terms mean?
CHAPTER 6: What Start-Up Expenses Will You Incur?
What type of building should you lease?
What communications systems should you use?
What office and computer equipment do you need?
What office supplies do you need?
What types of insurance might you need?
What is risk management?
Step-by-step start-up checklists
CHAPTER 7: What Is a Business Plan?
Why do you need a business plan?
Where do you find help with business plans?
What is in a business plan?
How do you prepare projections?
Who will lend you money?
Doing it right: Your business plan checklists
CHAPTER 8: Should You Incorporate Your Business?
What is a proprietorship or partnership?
Is a partnership a good idea?
What is an incorporated business?
How do proprietorships and corporations differ?
Comparing balance sheet differences
Should you incorporate your business?
CHAPTER 9: What Are You Required to Do By Law?
Local government approval
Name registration
Incorporation and licenses
Bank accounts
State and local taxes
Employer Identification Number, forms, and payroll
Workers' compensation or state disability insurance
Other licensing agencies
Is business as simple as A-B-C and 1-2-3?
CHAPTER 10: How Do You Market Your Business?
What is a marketing plan?
What are the four Ps of marketing?
What is branding?
Put your plan together
How do you promote a business?
Which advertising media should you use?
How do you plan a marketing budget?
CHAPTER 11: How Do You Organize Your Accounting,
Time, and Paperwork?
How do you organize your files?
How do you organize your time and paperwork?
How do you set up your accounting?
What is a chart of accounts?
What does your accountant require?
How do you cost inventory?
Which business expenses are tax deductible?
What is a break-even point?
How do you record vehicle expenses?
Be nice to your accountant
CHAPTER 12: Your Home Office—Heaven or Hell?
Is a home office for you?
What's heaven about a home office?
When is a home office hell?
What home office tax deductions are available?
Can you handle the home office challenges?
CHAPTER 13: What Will Your Story Be?
Traveling the en
