Small Business For Dummies

The leading resource for starting and running any small business Want to start a small business — or energize the one you already have? This practical, no–nonsense guide gives you expert advice on everything from generating ideas and locating start–up money to hiring the right people, balancing the books, and planning for growth. Start from scratch — overturn all the stones of a typical small business start–up, from choosing the right niche for you to writing a business plan to creating the right legal framework If you buy it, will they come? — evaluate an existing business, determine a price, and know what to do after the sale is complete Get your motor runnin′ — discover how to solve the most compellingproblems facing small businesses, from sales creation and marketing to operational issues (and everything in between) Stay in business — delve into the day–to–day issues you′ll face as your business grows, like hiring and maintaining employees, tax laws, and government regulations "No one should try to start a business without this book." — Hattie Bryant , creator of the PBS series Small Business 2000 "Eric Tyson continues his never–ending quest to help people gain economic self–sufficiency and freedom." — Jim Collins , coauthor of Built to Last and author of Good to Great Learn to: Keep your business "in business" for the long haul Implement the latest in financing, hiring, health plans, and more Utilize the latest technology and social media sites in your small business Open the book and find: Advice on gauging whetherentrepreneurship is for you Tips on personal money management Ways to successfully start or rejuvenate your small business How to write a strategic business plan Guidance on locating financing The advantages of buying an existing business Plain–English explanations of legal and tax issues Time–tested problem–solving tips

Introduction 1 Part I: Becoming an Entrepreneur 9 Chapter 1: Is Small Business for You 11 Chapter 2: Laying Your Personal Financial Foundation 27 Chapter 3: Finding Your Niche 41 Chapter 4: First Things First: Crafting Your Business Plan 57 Chapter 5: Making Financing, Ownership, and Organizational Decisions 77 Part II: Buying an Existing Business 105 Chapter 6: Exploring Buying a Business 107 Chapter 7: Finding the Right Business to Buy 117 Chapter 8: Evaluating a Business to Buy 131 Chapter 9: Negotiating Terms and Sealing the Deal 149 Part III: Running a Successful Small Business 161 Chapter 10: The Owner’s Responsibilities in the Start–Up and Beyond 163 Chapter 11: Marketing: Products, Pricing, Distribution, Promotion, and Sales 191 Chapter 12: Tapping Technology 221 Chapter 13: Keeping Your Customers Loyal 233 Chapter 14: Managing Profitability and Cash 245 Chapter 15: Learning from the Experiences of Others 271 Part IV: Keeping Your Business in Business 283 Chapter 16: Finding and Keeping Superstar Employees 285 Chapter 17: Providing Employee Benefits 313 Chapter 18: Handling Regulatory and Legal Issues 333 Chapter 19: Mastering Small–Business Taxes 347 Chapter 20: Cultivating a Growing Business 361 Part V: The Part of Tens 381 Chapter 21: Ten Mistakes You Don’t Want to Make 383 Chapter 22: Ten Tips for Small–Business Success 391 Index 399

Eric Tyson has been featured on and quoted in hundreds of media outlets, including Newsweek , The Wall Street Journal , Los Angeles Times , Chicago Tribune , and Forbes . Jim Schell is the resident entrepreneur for Small Business School , a weekly television program for PBS and Voice of America .