Guide to Starting Your Own Business A Step-by-Step Blueprint for the First-Time Entrepreneur

ISBN-10: 0071410120
ISBN-13: 9780071410120
Edition: 2nd 2003 (Revised)
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Description: Incorporating information on the impact of the Internet & new sources of funding in creating opportunities for enterprise, this new edition provides a guide to the entire process of starting a new venture in the 21st century.

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Book details

List price: $19.00
Edition: 2nd
Copyright year: 2003
Publisher: McGraw-Hill Companies, The
Publication date: 6/30/2003
Binding: Paperback
Pages: 240
Size: 6.00" wide x 9.00" long x 1.00" tall
Weight: 1.298
Language: English

Incorporating information on the impact of the Internet & new sources of funding in creating opportunities for enterprise, this new edition provides a guide to the entire process of starting a new venture in the 21st century.

STEPHEN C. HARPER is President of Harper and Associates, Inc., a management consulting firm. He is also Progress Energy/Betty Cameron Distinguished Professor of Entrepreneurship at The University of North Carolina at Wilmington. Steve has worked with entrepreneurs in the United States and Canada for more than thirty years. He is on the editorial review board of the Journal of Business and Entrepreneurship and serves on the board of directors of Wachovia Bank (Wilmington area), and the Coastal Entrepreneurial Council, of which he is a cofounder and a former president and executive director.

Lessons for Starting Your Own Business
Preface
Acknowledgments
Introduction
Prerequisites for Start-Up Survival and Success
Creating a New Business
Can You Beat the Odds?
Don't Be One of the Losers
Prerequisites for Start-Up Survival and Success
Key Entrepreneurial Qualities
Conclusion: Starting a Business Is Survival of the Fittest
Entrepreneurial Qualities Self-Test: Part 1
Identifying New Business Opportunities
An Opportunity Can Be Found within Every Problem
Creating Customers
Maintaining Customers
Are There Any Opportunities Left for New Businesses?
Find Gaps in the Market
Yes, There Are Opportunities!
What Kind of Business Should I Start?
Entrepreneurial Qualities Self-Test: Part 2
Scoring Breakdown for Question 8
Notes
Preparing Your Business Plan
The General Overview and Legal Structure
The Executive Summary
Overview of the Business Concept
The Objectives for the New Business
The Legal Form of Organization
Profile of the Management Team and Organization Chart
Description of the Market(s) to Be Served and the Location of the Business
Basis for Financing the Business
Timetable for Establishing the Business
Exit Strategy
The General Overview Helps You Think Things Through
Selecting the Right Target Market
Studying the Industry
Analyzing the Market
Competitive Analysis
Identifying Your Prospective Customers
Putting Together the Customer Profile
Product and Price Strategy
Product-Service Strategy
Pricing Strategy
Promotional Strategy and Physical Distribution Strategy
Promotional Strategy
Physical Distribution Strategy
Be Prepared to Change Your Marketing Mix
Determining Your Initial Capital Requirement
Determining Your Initial Capital Requirement
Estimating the First Year's Sales
Identifying Your Cash Outlays
Estimating Monthly Cash Outlays
Identifying Starting Costs That You Have to Pay Only Once
Completing the SBA Worksheet
Proceed with Caution
Projecting Your Financial Status for the First Years
Profit Planning: Conducting Cost-Volume-Profit Analysis
Cash Flow Projections
Preparing Your Pro Forma Financial Statements
Preparing Your First Calendar-Year-End Balance Sheet
Running the Numbers Is an Essential Part of the Business Plan
Sources of Funding, Alternatives to Starting from Scratch, and Entrepreneurial Do's and Don'ts
Sources of Funding
"Show Me the Money!"
Few Entrepreneurs Have All the Money They Need
Entrepreneurs Have to Be Willing to Accept Risks
Don't Expect to Get a Loan from a Bank
Take a Good Look at Yourself ... Are You Credit/Investment-Worthy?
Sometimes You Have to Give Up Something to Get Something
Raising Money Takes Considerable Time
You Will Need to Be a Salesperson to Get Funding
Raising Funds Also Takes Resilience
Not All Money Is Alike
You Need an "F-Plan."
Developing the F-Plan for Your Venture
Bootstrapping: Proactive Ways to Raise and Conserve Cash
Bootstrapping Techniques
Funding Sources Come in All Shapes and Sizes
Criteria That Banks Use When Considering a Loan Request
Other Factors to Consider When You Seek a Loan
Conclusion: Anita Roddick Was Right--Finding Funding Can Be a Real Challenge
Notes
Buying an Existing Business
Sometimes It's Better Not to Start from Scratch
Why Buy an Existing Business?
Some Businesses Are for Sale, Others Can Be Bought
Buyer Beware: All That Glitters May Not Be Gold!
Guidelines for Analyzing a Business
The Book Value Approach to Valuing a Business
The Capitalization-of-Earnings Approach to Valuing a Business
The Cash Flow Approach to Valuing a Business
Valuation May Be a Hybrid of Various Approaches
Closing the Sale: Don't Forget Your Accountant and Your Attorney
Notes
Acquiring a Franchise
Buying Someone Else's Formula for Success
The Benefits of Buying a Franchise
The Drawbacks of Buying a Franchise
Finding the Right Franchise Opportunity
Checking Out the Franchisers
Look before You Leap
Epilogue: Entrepreneurial Do's and Don'ts
Take a Good Look at Yourself, Your Life, and What Is Driving You
Time: You Will Never Have Enough
Preparation: Stack the Odds in Your Favor
Management: Who Ever Said It Would Be Easy?
The Business Plan: The Mental Journey Must Precede the Physical Journey
Strategy: How Do You Plan to Gain Sustainable Competitive Advantages?
Human Resources: Your Business Will Be Only as Good as Your People
Legal: It's a Minefield Out There!
Financial Side: Money Is like Oxygen--You Need It to Live
The Business Opportunity: Analyze the Marketplace and Do the Right Marketing
Suppliers: You Can't Live without Them
Closing Points
Sources of Helpful Information
Index

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