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“This is one of the best entrepreneurship books I’ve read...I wish I had this book when I first started out.”
RYAN O’DONNELL, Cofounder and CEO, BullEx Digital Safety
Your own business: Take the leap, make it happen, and make it succeed!
· The truth about choosing the right business for you and maintaining a healthy personal life
· The truth about planning, funding, hiring, and successful launches
· The truth about financial management, marketing, and growth
This book reveals 53 bite-size, easy-to-use techniques for choosing, planning, launching, and growing your winning business.
You’ll learn how to generate and test business ideas, and pick the one that’s best for you...select the right entry strategy...name and locate your business...raise capital...build your team and get expert advice...protect your business secrets and intellectual property...effectively brand your business and market its offerings...handle pricing, distribution, and sales...manage your finances to specific objectives...prepare for growth...and even maintain your work/life balance as an entrepreneur. This isn't “someone's opinion”: it's a definitive, evidence-based guide to building your own successful enterprise--a set of bedrock principles you can rely on whoever you are, wherever you are, and whatever business you choose to launch.
Part I The Truth About What It Takes to Be a Business Owner
Truth 1 Why people start businesses 1
Truth 2 The right business for you 5
Truth 3 Questions to ask before you quit your job 9
Truth 4 Key characteristics of successful business owners 13
Truth 5 You may not need “prior business experience” 17
Part II The Truth About Generating and Testing Business Ideas
Truth 6 The most common sources of new business ideas 21
Truth 7 Want several alternatives? Techniques for generating new business ideas 25
Truth 8 A make-it or break-it issue: Selecting an idea that can be sold into a niche market 29
Truth 9 Screening and testing business ideas 33
Truth 10 Writing a business plan: Still as important as ever 37
Part III The Truth About Entry Strategies
Truth 11 Starting from scratch: Developing your own product or service 41
Truth 12 Franchising: Buying into someone else’s formula for success 45
Truth 13 Believe it or not: There are legitimate opportunities in direct sales 49
Truth 14 Buying a business 54
Truth 15 Internet businesses: The sky does seem to be the limit 58
Part IV The Truth About Getting Up and Running
Truth 16 Choosing a location for your business 61
Truth 17 Something you’ll say a million times: Your business’s name 65
Truth 18 The paper chase: Obtaining business licenses and permits 69
Truth 19 Choosing a form of business ownership 73
Truth 20 Creating a Web site: An absolute necessity 79
Part V The Truth About Raising Money
Truth 21 How to think about money as it relates to starting a business 83
Truth 22 Calculating your initial start-up costs 87
Truth 23 Personal funds, loans from friends and family, and bootstrapping 91
Truth 24 Debt financing 95
Truth 25 Equity funding 99
Truth 26 Grants: It takes the right fit 103
Truth 27 Persistence pays off: Finding alternative sources of startup funds 107
Part VI The Truth About Building a New Business Team
Truth 28 How to approach the task of building a “new business” team 111
Truth 29 Starting a business as a team rather than an individual 115
Truth 30 Recruiting and hiring employees 119
Truth 31 Board of directors 123
Truth 32 Board of advisors 127
Part VII The Truth About Intellectual Property
Truth 33 Intellectual property: What is it, and how is it protected? 131
Truth 34 To patent or not to patent? 135
Truth 35 Trademarks: An essential form of protection 139
Truth 36 Copyright laws: A surprising breadth of protection 143
Truth 37 Trade secrets: Guard them carefully 147
Part VIII The Truth About Marketing
Truth 38 How to approach marketing in a new business 151
Truth 39 Segmenting the market and selecting a target market 155
Truth 40 Establishing a brand 159
Truth 41 Selling benefits rather than features 163
Truth 42 Pricing: The most dicey element of the marketing mix 165
Truth 43 It’s okay to advertise, but think through your choices carefully 169
Truth 44 Public relations: More important than ever 173
Truth 45 Distribution and sales: More choices than ever 177
Part IX The Truth About Financial Management
Truth 46 Managing a business’s finances 181
Truth 47 Financial objectives of a business 185
Truth 48 The nitty-gritty: Forecasts, budgets, and financial statements 189
Part X The Truth About Growing a Business
Truth 49 Preparing for growth 193
Truth 50 Stages of growth: More opportunities, more challenges 197
Truth 51 Strategies for growth 201
Part XI The Truth About Starting a Business and Maintaining a Healthy Personal Life
Truth 52 Work life balance: Practical tips 205
Truth 53 Starting a business as a means of achieving a healthy personal life 209
About the Author 221