Starting a Successful Business (Sunday Times Business Enterprise)

Copyright......Page 9
Contents......Page 10
Preface to the fifth edition......Page 20
Acknowledgements......Page 22
1.2 WHAT’S RUNNING A SMALL FIRM LIKE?......Page 32
1.3 THE DEMANDS ON YOU AND YOURS......Page 34
1.5 WHAT SORT OF PERSON ARE YOU?......Page 35
1.6 FOUR TYPES OF PEOPLE WHO START BUSINESSES......Page 37
1.7 WOMEN STARTING BUSINESSES......Page 43
1.8 YOUR PERSONAL FINANCES......Page 44
1.9 WHAT SORT OF BUSINESS TO START?......Page 45
1.10 TAKING UP A FRANCHISE......Page 46
1.11 YOUR IT STRATEGY......Page 48
1.12 SHOULD YOU SET UP A ‘DOT COM’ COMPANY?......Page 49
1.13 KEY JOBS TO DO......Page 52
2.2 WHAT ARE YOU SELLING?......Page 56
2.4 HOW TO FIND CUSTOMERS......Page 57
2.5 INFORMATION SOURCES......Page 58
2.6 FORECASTING YOUR SALES......Page 59
2.7 THE PROPOSITION YOU ARE SELLING......Page 60
2.8 WHAT THE CUSTOMERS SAY THEY WANT......Page 61
2.10 WHY CUSTOMERS SHOULD BUY FROM YOU, NOT FROM YOUR COMPETITOR......Page 62
2.11 GETTING THE PRODUCT TO THE CUSTOMER......Page 64
2.12 SELLING DIRECT TO THE CUSTOMER......Page 65
2.13 DEALING DIRECT WITH THE PUBLIC......Page 66
2.15 HOW THE SHOPS CALCULATE THEIR SELLING PRICES......Page 67
2.16 WHICH SHOPS TO SELL TO......Page 69
2.18 WHAT THE SHOPKEEPER IS LOOKING FOR......Page 70
2.19 WHAT YOU CAN OFFER......Page 71
2.20 SALE OR RETURN......Page 72
2.22 PREPARING TO CALL ON A CUSTOMER......Page 73
2.23 ON ENTERING THE CUSTOMER’S PREMISES......Page 74
2.24 WITH THE BUYER......Page 75
2.26 GETTING ATTENTION......Page 76
2.27 GETTING INTEREST......Page 77
2.29 ACTION: GETTING THE ORDER......Page 78
2.30 PRICING THE PRODUCT......Page 79
2.31 BENEFITS......Page 80
2.32 SALES PROMOTION......Page 81
2.33 SELLING THROUGH MAIL-ORDER CATALOGUES......Page 82
2.34 SELLING BY MAIL ORDER......Page 83
2.35 SELLING BY DIRECT MAIL......Page 84
2.37 SELLING BY PARTY PLAN......Page 85
2.38 WHERE TO ADVERTISE?......Page 86
2.39 BUYING AN AD......Page 87
2.40 MEASURING ADVERTISING’S EFFECTIVENESS......Page 89
2.41 PUBLICITY......Page 91
2.42 WRITING A NEWS RELEASE......Page 92
2.43 PROMOTING YOUR FIRM IN THE INFORMATION AGE......Page 93
2.44 SELLING VIA THE WEB......Page 96
2.45 KEY JOBS TO DO......Page 97
3.1 AIMS OF THIS SECTION......Page 100
3.2 COSTING......Page 101
3.3 CALCULATING AN HOURLY RATE......Page 102
3.4 CAUTIONS ON SECTION 3.3......Page 103
3.6 HOW TO RUN OUT OF CASH......Page 107
3.7 HOW TO CONSERVE CASH......Page 108
3.9 WHAT MAKES UP A CASH-FLOW FORECAST?......Page 110
3.10 DRAWING UP A CASH-FLOW FORECAST......Page 112
3.11 PROFIT-AND-LOSS BUDGETING......Page 116
3.13 AVOIDING GIVING CREDIT......Page 118
3.15 SETTING THINGS UP TO GET PAID QUICKLY......Page 119
3.16 COLLECTING MONEY FROM THE SLOW PAYER......Page 122
3.17 MINIMISING CREDIT RISKS......Page 123
3.18 CHASING LARGER FIRMS FOR PAYMENT......Page 125
3.19 HOW LOW CAN SALES FALL WITHOUT CAUSING LOSSES?......Page 126
3.20 COSTINGS FOR MORE COMPLEX SITUATIONS......Page 129
3.21 KEY JOBS TO DO......Page 130
4.2 GRANTS......Page 132
4.3 WHY BORROW?......Page 133
4.4 WHAT SORTS OF LOANS ARE AVAILABLE?......Page 134
4.6 SECURITY FOR BORROWING......Page 135
4.8 NON-BANK BORROWING......Page 136
4.9 INTEREST RATES......Page 137
4.11 SELECTING A BANK......Page 138
4.12 PRESENTING YOUR CASE TO THE BANK......Page 140
4.13 KEY JOBS TO DO......Page 141
5.1 AIMS OF THIS SECTION......Page 144
5.3 INCREASING YOUR SALES VIA THE INTERNET......Page 145
5.4 CATALOGUES ON THE WEB AND ON CD OR DVD......Page 146
5.5 PURCHASING VIA THE WEB......Page 147
5.6 ELECTRONIC COMMUNICATIONS......Page 148
5.8 SETTING UP A WEBSITE......Page 150
5.10 CREATING A CD OR DVD CATALOGUE......Page 153
5.11 KEY JOBS TO DO......Page 155
6.2 THE CHOICES AVAILABLE......Page 158
6.4 PARTNERSHIP......Page 159
6.5 LIMITED COMPANY......Page 160
6.7 FORMING A LIMITED COMPANY......Page 161
6.9 DISCLOSURE OF BUSINESS NAMES......Page 162
6.10 KEY JOBS TO DO......Page 163
7.2 CIVIL AND CRIMINAL LAW......Page 166
7.4 BREACH OF CONTRACT......Page 167
7.5 TORT......Page 168
7.7 GOING TO LAW......Page 169
7.8 SUING IN THE COUNTY COURT, AND BEING SUED......Page 170
7.10 WHAT MAKES A CONTRACT......Page 171
7.11 TERMS AND CONDITIONS: BUYING......Page 172
7.12 TERMS AND CONDITIONS: SELLING......Page 173
7.13 CONDITIONS AND WARRANTIES......Page 176
7.15 EXEMPTIONS......Page 177
7.18 TRADING STANDARDS OFFICERS......Page 178
7.19 COPYRIGHT, REGISTERED DESIGNS AND TRADE MARKS, AND PATENTING......Page 179
7.21 KEY JOBS TO DO......Page 181
8.2 CAN YOU WORK FROM HOME?......Page 186
8.3 AVAILABILITY OF SMALL PREMISES......Page 188
8.5 PLANNING PERMISSION......Page 189
8.6 APPLYING FOR PLANNING PERMISSION......Page 191
8.8 PLANNING APPEALS......Page 193
8.10 RATES AND WATER CHARGES......Page 194
8.11 KEY JOBS TO DO......Page 195
9.2 PLANNING YOUR ACTIVITY......Page 198
9.3 CONTROL OF YOUR OPERATION......Page 199
9.5 PURCHASING......Page 203
9.6 NEGOTIATING WHEN BUYING......Page 204
9.7 QUALITY CONTROL......Page 205
9.9 KEY JOBS TO DO......Page 206
10.2 BOOKKEEPING......Page 208
10.3 BANK ACCOUNTS......Page 209
10.5 REGISTERING FOR VAT......Page 210
10.7 NATIONAL INSURANCE......Page 211
10.8 TAX RELIEFS......Page 212
10.9 KEY JOBS TO DO......Page 213
11.2 THE LAW: A BIG PROBLEM?......Page 216
11.4 THE INTERVIEW......Page 217
11.6 THE JOB OFFER AND ITS ACCEPTANCE......Page 218
11.7 GETTING WHO YOU WANT, AND MAKING SURE THEY STAY......Page 219
11.8 CONTRACTS OF EMPLOYMENT......Page 220
11.9 EMPLOYMENT PROTECTION......Page 221
11.12 DISCIPLINARY PROCEDURES......Page 222
11.13 GRIEVANCE PROCEDURE......Page 223
11.15 HEALTH AND SAFETY AT WORK ACT 1974......Page 224
11.17 KEY JOBS TO DO......Page 225
12.3 STATUTORY INSURANCES......Page 228
12.5 INSURANCE PACKAGES......Page 229
12.8 KEY JOBS TO DO......Page 230
13.2 SELECTING A CONSULTANT OR ADVISER......Page 232
13.4 PRIVATE SECTOR ADVISERS......Page 233
13.6 BUSINESS LINK......Page 234
13.9 KEY JOBS TO DO......Page 235
14.3 WHEN TO CONSIDER GETTING A COMPUTER......Page 238
14.4 HOW ICT CAN HELP......Page 239
14.6 SPREADSHEETS......Page 240
14.7 WORD PROCESSORS......Page 241
14.8 SELECTING YOUR SYSTEM......Page 242
14.9 COMPUTER PROBLEMS AND OTHER CONSIDERATIONS......Page 243
14.11 KEY JOBS TO DO......Page 244
15.2 WHO WANTS YOUR PLAN AND WHY?......Page 246
15.3 WHAT GOES INTO A BUSINESS PLAN?......Page 247
15.5 AFTERLIFE......Page 250
15.6 KEY JOBS TO DO......Page 251
16.2 THE MAIN ISSUES......Page 254
16.4 YOUR NEW JOB......Page 255
16.5 COMPANY CULTURE......Page 257
16.7 YOUR FIRM AND CONSULTANTS......Page 258
16.8 YOUR MISSION STATEMENT......Page 259
16.9 KEY JOBS TO DO......Page 261
Section 17......Page 264
Appendix 1......Page 274
Appendix 2......Page 280
Appendix 3......Page 284
Appendix 4......Page 294
Appendix 5......Page 304
Index of advertisers......Page 314
Index......Page 316