Personal Factors
Why are You Going Into Business?
Who are You?
Mirror Test
Small Business
Myths
Setting Goals
Summary
TO DO LIST #1
Opportunity Recognition
Part time vs Full Time
Business
Net Worth Statement and Household Budget
Choosing the Right Business
Making Your Own Idea a Reality
Buying a Business from a "Promoter"
Buying a Franchise: Pros and Cons
Buying an Existing Business
TO DO LIST #2
Sample Family Budget
Sample Net Worth Statement
Startup Nuts and Bolts
Selecting a Business Name
Federal ID Number, Employer ID Number (EIN), Tax Number
Getting a Bank Account
Licenses
Sales Taxes, Use Taxes
Selecting the Structure of Your Business
Partnership or Shareholder Agreements
TO DO LIST #3
Business Planning
Why Have a Business Plan?
Audiences For a Business Plan
Hiring Business Plan Writers
The How's of Business Plan Creation
Paint a Picture!
Elements of a Business Plan
Summary
TO DO LIST #4
Real Marketing
Four Real Marketing Questions
• Who is Your Customer?
• How Much Can and Will Your Customer Buy?
• Why Should They Buy From You?
• How Do You Communicate With Them?
How Will You Compete?
Conducting Market Research
Summary
TO DO LIST #5
Small Business Finance
Making Projections
Income Statement
Startup Expenses
Break–Even Analysis
Cash Flow Statement
Balance Sheet
Business Ratios
Accounting Software
Using Your Projections
While Running Your Business
TO DO LIST #6
Sample Startup Expenses
Management Essentials
Policies and Procedures
Human Resources
Insurance Protection
Copyrights, Patents, and Trademarks
Buying Equipment
Credit Cards & Merchant Accounts
Leasing Space
Selecting Business Advisors
TO DO LIST #7
Obtaining Funding
Financing Options
Debt Financing
• The Bank Lending Process
• Five C's of Lending
• The Loan Package
• Small Business Administration (SBA)
• Self-Funding
Friends and Family
• Creative Sources
Selling Equity
• Venture Capitalists
• Business Angels
Other Funding Sources
TO DO LIST #8
Big Brother Requirements
Record Keeping
Employee Records
Employee Signs
General Federal Requirements
• Department of Labor
Immigration and Naturalization Service (INS)
• Occupational Safety and Health Act (OSHA)
• Equal Employment Opportunity Commission (EEOC)
Internal Revenue Service (IRS)
• FICA and Self-employment Taxes
Unemployment Tax
State Taxes
Other Tax Considerations: Summary
TO DO LIST #9
Appendices
Summary
"Instant Rolodex"
Helpful Web Sites
