Small Business For Dummies

Cover
Table of Contents
Title Page
Copyright
Introduction
   About This Book
   Foolish Assumptions
   Icons Used in This Book
   Beyond the Book
   Where to Go from Here
Part 1: Getting Started with Small Business
   Chapter 1: Is Small Business for You?
      Defining Small Business
      Do You Have the Right Stuff?
      Identifying the Pros and Cons of Owning a Small Business
      Exploring Alternatives to Starting a Business
   Chapter 2: Laying Your Personal Financial Foundation
      Getting Your Financial Ducks in a Row
      Creating Your Money To-Do List
      Assessing and Replacing Benefits
      Managing Your Personal Finances Post-Launch
   Chapter 3: Finding Your Niche
      Why You Don’t Need a New Idea to Be Successful
      Choosing Your Business
      Inventing Something New
      Recognizing Your Number One Asset — You
   Chapter 4: First Things First: Crafting Your Business Plan
      Your Mission: Impossible If You Fail to Define It
      Your Business Plan: Don’t Start Up without It
      Writing Your Business Plan
      Keeping Your Plan Current
   Chapter 5: Making Financing, Ownership, and Organizational Decisions
      Determining Your Start-Up Cash Needs
      Using Your Own Money: Bootstrapping
      Outsourcing Your Capital Needs
      Exploring Ownership Options
      Deciding Whether to Incorporate
Part 2: Buying an Existing Business
   Chapter 6: Exploring Buying a Business
      Understanding Why to Buy a Business
      Knowing When You Shouldn’t Buy
      Recognizing Prepurchase Prerequisites
   Chapter 7: Finding the Right Business to Buy
      Defining Your Business-Buying Appetite
      Generating Leads
      Considering a Franchise
      Evaluating Multilevel Marketing (MLM) Firms
      Checking Out Work-from-Home Opportunities
   Chapter 8: Evaluating a Business to Buy
      Kicking the Tires: Doing Your Due Diligence
      Evaluating Special Franchise Issues
   Chapter 9: Negotiating Terms and Sealing the Deal
      Valuing the Business
      Developing Purchase Offer Contingencies
      Allocating the Purchase Price
      Doing Due Diligence
      Moving Into Your Business
Part 3: Running a Successful Small Business
   Chapter 10: The Owner’s Responsibilities in the Start-Up and Beyond
      Dotting Your i’s and Crossing Your t’s: Start-Up Details
      Outsourcing: Focus on What You Do Best
      Simplifying Your Accounting
      Controlling Your Expenses
      Managing Vendor Relationships
      Dealing with Bankers, Lawyers, and Other Outsiders
   Chapter 11: Marketing: Products, Pricing, Distribution, Promotion, and Sales
      Marketing in a Nutshell
      Tackling Product and Service Development
      Pricing: Cost and Value
      Distribution: Channeling to Customers
      Promotion: Spreading the Word
      Sales: Where the Rubber Hits the Road
   Chapter 12: Tapping Technology
      Making the Decision: Cloud-Based versus Internal Server
      Technology’s Role in Managing Your Business
      AI as a Game Changer
      Helping Buy a Business or Franchise
   Chapter 13: Keeping Your Customers Loyal
      Retaining Your Customer Base
      Dealing with Dissatisfied Customers
   Chapter 14: Managing Profitability and Cash
      Cash Flow: The Fuel That Drives Your Business
      Making Sense of Financial Statements
      Turning the Numbers into Action
      Understanding Key Ratios and Percentages
      Managing Your Inventory
      Collecting Your Accounts Receivable
      Discovering Three Ways to Improve Profits
   Chapter 15: Learning from the Experiences of Others
      Utilizing Mentors
      Networking with Peers
      Forming a Board of Advisors
      Finding a Partner
      Joining a Trade Association
      Uncovering a Business Incubator
      Locating a Small Business Development Center
      Giving SCORE a Try
      Tapping into Small-Business Information
Part 4: Keeping Your Business in Business
   Chapter 16: Finding and Keeping Superstar Employees
      Assembling a Top Team
      Training: An Investment, Not an Expense
      Motivating: Pay and Performance Issues
      Parting Company: Firing an Employee
      Designing Flexible Organization Charts
      Valuing Employee Manuals
      Turning the Tables: Characterizing Successful Employers
   Chapter 17: Providing Employee Benefits
      Seeing the Real Value in Retirement Plans
      Deciding Whether to Share Equity
      Including Insurance and Other Benefits
   Chapter 18: Handling Regulatory and Legal Issues
      Navigating Small-Business Laws
      Surviving Start-Up Regulations
      Laboring over Employee Costs and Laws
   Chapter 19: Mastering Small-Business Taxes
      Getting Smarter about Taxes
      Keeping Good Financial Records Leads to Tax Benefits
      Knowing (And Managing) Your Tax Bracket
      Staying on Top of Employment Taxes
      Spending Your Money Tax-Wisely
      Grasping the Tax Implications of Your Entity Selection
   Chapter 20: Cultivating a Growing Business
      Recognizing Growth Stages
      Resolving Human Resources Issues
      Addressing Time-Management Issues
      Choosing Your Management Tools
      Troubleshooting Your Business Challenges
      Redefining Your Role in an Evolving Business
Part 5: The Part of Tens
   Chapter 21: Ten Mistakes You Don’t Want to Make
      Failing to Use Financial Statements to Manage Your Business
      Failing to Prepare an Annual Budget
      Failing to Utilize Your CPA
      Failing to Understand How Marketing Applies to Your Business
      Hiring Too Quickly
      Taking Too Long to Terminate Nonperforming Employees
      Assuming That Your Employees Are Motivated by the Same Things You Are
      Considering Training to Be an Expense and Not an Investment
      Failing to Take Advantage of Available Resources
      Failing to Maintain an Up-to-Date Organization Chart
   Chapter 22: Ten Tips for Small-Business Success
      Focus on the Execution
      Assemble a Team of Superstars in Game-Breaker Positions
      Work Hard, Get Lucky
      Realize the Difference between Profits and Cash
      Hire for Attitude, Teach Skills Later
      Create an Exit Strategy
      Grow or Die — There’s No In-Between
      Prepare for the Transition to Manager
      Develop an Insatiable Appetite to Learn
      Do What You Love
   Chapter 23: Ten Ways Recent Tax Reform Benefits Small Business
      Corporate Income Tax Rate Reduction …
      … and (Some) Simplification
      Individual Income Tax Rates Reduced
      Deduction of 20 Percent for Pass-Through Entities
      Better Equipment Expensing Rules
      Increased Maximum Depreciation Deduction for Automobiles
      Limited Interest Deductions
      Reduced Meal and Entertainment Deductions
      Elimination of Health Insurance Mandate
      Revised Rules for Using Net Operating Losses
Index
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