Index

A

• academic references, 399
• accelerated method, 340
• Account column, in Chart of Accounts, 260
• accountants, 187, 263
• accounting cycle, 241–243
• accounting equation, 288
• accounting methods, 192–193, 283
• accounting period, 240
• accounts payable, 240, 254, 281–282, 303
• accounts receivable, 240, 251, 278–279, 301, 318
• accrual-basis accounting, 193, 244–245, 314
• accrued expenses payable, on statement of cash flows, 281–282
• accrued expenses payable liability account, 303, 305
• Accrued Payroll Taxes account, 254
• accumulated depreciation
  • about, 302–303
  • buildings account, 252
  • equipment account, 253
  • furniture and fixtures account, 253
  • leasehold improvements account, 252
  • on statement of cash flows, 320–321
  • vehicles account, 253
• action plan, 106
• activity trap, 414–415
• actual budgeting, 357–360
• adequate disclosure, 267
• adjusting journal entries, as step in accounting cycle, 242, 243
• adjustments, 242
• Adobe Dreamweaver, 202–203, 215
• advanced entrepreneurship, 46
• advertising
  • analyzing costs of, 338–339
  • on Facebook, 548
  • finding customers with, 461
  • simple rules of, 532
  • timing, 537–538
• Advertising account, 258
• Advertising Age (magazine), 531
• Adweek (magazine), 531
• Affordable Care Act (2010), 185
• Allen, Kathleen (author)
  • eBusiness Technology Kit For Dummies, 435
• Amazon, 55, 61
• American Institute of Certified Public Accountants (website), 378
• American Recovery and Reinvestment Act (ARRA, 2009), 185
• American Taxpayer Relief Act (2012), 401
• Americans with Disabilities Act, 163
• Amgen, 60
• amortization
  • on balance sheet, 304
  • defined, 341
  • organization costs account, 253
  • patents account, 253
• analyzing
  • advertising costs, 338–339
  • employee cost, 338
  • influence points, 463–466
  • sales promotion cost, 338–339
  • shortfalls, 565
  • talents, 565
• anatomy, of business plans, 105–107
• angels, finding, 122–123
• Angie's List, 73
• annual reports, 240
• answering phones, 496
• anticipated upsell business model, 51
• appearance of buildings/stores, finding customers with, 461
• appendices, in business plan, 106
• Apple, 55, 60, 65, 71
• approvals, 151–152
• approving plans, 127
• area development agreement, 89–91
• area representatives, 92–93
• arrival, at your business, 498–499
• The Art of War (Sun Tzu), 47
• Ask (website), 19
• asset investment, as liquidity trap, 301
• asset-based lenders, 133
• assets
  • about, 250
  • on balance sheet, 300–306
  • current, 249, 251
  • defined, 239
  • effect of revenues/expenses on, 273–274
  • fixed, 280–281
  • intangible, 253
  • long-term, 249, 252–254
• Astro Events of America, 172
• at-home sites, for franchises, 141
• Attainable characteristic, of SMART goals, 409
• attitude, good, as job candidate characteristic, 389
• audiences, 110–111. See also target audiences
• auditing business image, 500–503
• Aussie Pet Mobile, 171
• authority, delegation and, 443–444
• automation, 430–431
• average cost method, 347
• awareness gap, 456–457

B

• back of the house, 151, 161–162
• backgrounds, 209–210
• backing up email messages, 495
• ”bad apple” franchises, 98
• balance sheets
  • about, 193, 250, 287–288
  • accounting equation, 288
  • assets, 250–254, 300–306
  • comparing with P&L, 344–346
  • defined, 239
  • equity, 256
  • liabilities, 254–255, 300–306
  • presenting, 289–293
  • transactions on, 297–299
  • values reported on, 309–310
• Ballroom jeans, 48
• Bank Service Charge account, 259
• bankers, consulting before starting home-based businesses, 187
• Barron's (magazine), 67
• base of the economic pyramid (BOP), 84
• base sales, projecting improvements above, 468
• benchmarking, 234, 342, 483–485
• benefits
  • as a consideration before leaving day job, 184
  • of products, 526–527
  • of socially responsible practices, 421–422
  • of technology in the workplace, 430–433
• Best Buy, 74
• bestseller, 478–479
• big base effect, 337
• big idea, 529–530
• big-bath strategy, 284
• Bigbelly, 54
• Bing (website), 19
• Bird, Forrest M. (author)
  • Inventing For Dummies, 25
• Bird, Pamela Riddle (author)
  • Inventing For Dummies, 25
• Bissonnette, Zac (author)
  • The Great Beanie Baby Bubble: Mass Delusion and the Dark Side of Cute, 480
• BlackBerry, 60
• blogs, 217–218, 393
• Bloomberg Businessweek (magazine), 67
• Bloomberg Businessweek (website), 16
• bonus money, as a consideration before leaving day job, 184
• book value, 309, 347
• bookkeepers, 238–239
• bookkeeping
  • about, 237–238
  • accounting cycle, 241–243
  • accrual-basis accounting, 244–245
  • balance sheet accounts, 250–256
  • bookkeepers, 238–239
  • cash-basis accounting, 243–244
  • Chart of Accounts, 248–250, 260–261
  • credits, 246–248
  • debits, 246–248
  • double-entry, 192–193, 246–248
  • income statement accounts, 256–260
  • terminology for, 239–241
• boosting posts, on Facebook, 548
• bootstrap, 121
• brainstorming, 32–36, 531
• brand
  • about, 505
  • balancing personal and business, 514–516
  • building, 508–510
  • conveying through taglines, 513–514
  • determining positioning strategy, 511–513
  • in franchising, 81–82
  • maintaining, 516–519
  • managing, 509–510
  • market position, 510–513
  • online, 507–508
  • power of, 506–507
  • protecting, 516–519
  • reasons for, 506
  • value of, 506–507
• brand loyalty, as threat to new entrants, 13
• brand penetration, 87
• branded location, 95
• brand-new offerings, 511
• bricks and clicks business model, 50
• broadcast media, 533
• budgeting. See also cost control
  • about, 331–332
  • actual, 357–360
  • as business-management tool, 364–365
  • external, 360–361
  • forecasting, 357–360
  • frame of mind for, 332
  • internal, 360–361
  • living budget, 361–363
  • for marketing communications, 528–529
  • other uses for, 365–366
  • process of, 351–353
  • tools for
    • CART (Complete, Accurate, Reliable, and Timely), 353–354
    • flash reports, 355–356
    • SWOT (Strengths, Weaknesses, Opportunities, and Threats), 354–355
• building brands, 508–510
• buildings account, 252
• Bureau of Labor Statistics (website), 20
• Burger King, 56–57
• business. See also specific topics
  • about, 7–8
  • defining market niche, 21–24
  • feasibility analysis, 8–11
  • industry
    • about, 11–12
    • entry strategy, 15
    • framework of structure, 12–15
    • researching, 15–20
  • knowing your, 433
  • products, 24–25
  • selling the, 602
• business associates, NDAs and, 135
• business concept, 9
• business consultants, consulting before starting home-based businesses, 188
• business description, in business plan, 106
• business environment, in business plan, 106
• business format franchising, 82, 83–84
• business growth
  • about, 585–586
  • choosing management tools, 593–596
  • human resource issues, 589–591
  • redefining your role during, 599–602
  • stages in, 586–589
  • time-management issues, 591–593
  • troubleshooting challenges, 596–598
• business ideas
  • about, 27
  • brainstorming, 32–36
  • identifying business opportunities, 36–39
  • power of good, 28–31
  • reality checks, 40
  • testing, 39–44
• business image
  • about, 491
  • auditing, 500–503
  • first impressions
    • about, 492
    • email, 494–495
    • online searches, 492–493
    • in person, 497–500
    • telephone, 495–497
    • website, 493–494
• business interruption insurance, for home-based businesses, 192
• business model
  • about, 45–46
  • common aspects of, 47–49
  • evolution of, 46
  • examples of, 50–52
  • finding success with, 52–62
  • importance of, 45–46
  • simple, 49
  • who needs a, 46–47
• business names, choosing, 190
• business networking group, as a resource, 114
• business opportunity, 36–39, 171–172
• business overview, in business plan, 106
• business plan
  • developing, 186
  • writing
    • about, 103
    • anatomy of, 105–107
    • establishing time frame, 112–113
    • identifying key messages, 109–111
    • identifying target audiences, 109–111
    • planning, 103–105
    • planning objectives, 107–109
    • preparing for real world, 113–115
• business school, as a resource, 114
• business solvency, 293–296
• business strategy, in business plan, 106
• business-management tool, budgeting as, 364–365
• buyer bargaining power, threats from, 14
• buyer switching costs, as threat to new entrants, 13
• buyers, NDAs and, 135
• buying
  • competitor's products, 18–19
  • goods from franchisor, 154

C

• C Corporations
  • about, 189–190, 223, 228–229
  • tax reporting for, 370
• California Cedar Company, 56
• calls, transferring, 496
• Camp Bow Wow, 54
• capital, sources of, 307–309
• Capital account, 256
• capital expenditures, 297–298
• capital requirements, as threat to new entrants, 13
• Career Builder (website), 393
• career development, 562–563
• carrying capacity, 12
• cash, sources of, 307–309
• cash accounting, 193
• cash balance, 305
• cash dividends, on balance sheet, 306
• cash flow, free, 326–327
• Cash Flow For Dummies (Tracy and Tracy), 294
• cash flow from operating activities, 312
• cash flow from profit, 312, 316–322
• Cash in Checking account, 251
• Cash in Savings account, 251
• Cash on Hand account, 251
• cash-basis accounting, 243–244
• cash-flow projections, 193
• category killers, 139
• central business district (CBD), 140
• certificates of occupancy, 152
• certified public accountants (CPAs), 378
• chamber of commerce, 31, 114, 194
• Change in Accounting Method (Form 3115), 244–245
• characteristics, of ideal job candidates, 388–390
• Chart of Accounts, 248–250, 260–261
• cheap chic business model, 50, 58
• Cheat Sheet (website), 3
• clip art, for websites, 211–212
• Clip Art Universe (website), 211
• Clipart.com (website), 211
• Clorox Company, 70
• ClosetMaid, 172
• closing, as step in accounting cycle, 242, 243
• cloud computing, 175
• CNN Business (website), 67
• Coach, 69, 74–75
• coaching
  • about, 557–558
  • getting started, 560–564
  • identifying tools for, 566–567
  • incorporating into day-to-day interactions, 569–570
  • managing and, 564–566
  • show-and-tell, 568
  • successes of, 568–569
  • websites for, 570
• The Coaching and Mentoring Network (website), 570
• Coca-Cola, 82
• code of ethics, creating, 425–426
• collective business model, 51
• color, for websites, 209–210
• Comet, 70
• comments, inviting from customers, 214–218
• commercial banks, 133
• commercial finance companies, 133
• committing to schedules, 112
• Common Stock account, 256
• communication. See also marketing communications
  • evaluating, 500–501
  • of your vision, 412–413
• Communication Arts (magazine), 531
• community centers, for franchises, 139
• company networks, 437
• competition
  • business models and, 57–58
  • buying products from, 18–19
  • evaluating, 31
• competitive advantage
  • considerations about, 58
  • enhancing, 60–62
  • obtaining your, 58–60
• competitive benefits, of franchise ownership, 95–96
• competitive edge, addressed in business model, 48
• competitive intelligence, 18–20
• competitive strategy, addressed in business model, 48
• competitive threats, 573–574
• complementary products, addressed in business model, 48
• Complete, Accurate, Reliable, and Timely (CART), 353–354
• complexity, 13
• concentrated campaign, 537
• conducting
  • multiple interviews, 400–401
  • self-appraisals, 42–44
• confidential circumstances, delegating, 450
• consideration, 135
• consistency, in brand, 508–509, 516–517
• Consolidated Omnibus Budget Reconciliation Act (COBRA, 1985), 185
• construction, beginning for franchises, 152
• consulting outside professionals, 187–188
• content, creating to attract customers to websites, 199–208
• context, provided by coaches, 567
• continuity, for enhancing competitive advantage, 62
• contra account, 320
• contracts, 134
• contribution, 350
• control, loss of, after delegation, 442
• control benchmarks, 300
• controller, 289
• conveying brand and position through taglines, 513–514
• cooperatives, buying goods through, 156
• copy guidelines, 519
• copyright (©) symbol, 519
• copyrights account, 254
• Corel (website), 213
• corporate social responsibility (CSR)
  • about, 419
  • benefits of, 421–422
  • developing strategy for implementation, 422–424
  • employing, 420–421
  • ethics, 424–427
  • socially responsible practices, 420–422
• corporations
  • about, 189–190, 228–229
  • benefits of, 229–230
  • incorporating process, 230–231
  • risks of, 230
  • tax reporting for, 369–370
• cost control. See also budgeting
  • about, 331–332, 332–333
  • analyzing advertising and sales promotion costs, 338–339
  • analyzing employee cost, 338
  • comparing P&L and balance sheet, 344–346
  • context of, 333–334
  • cost of goods sold, 336–337, 346–349
  • depreciation expense, 339–341
  • expenses, 342–343
  • facilities expense, 341–342
  • frame of mind for, 332
  • gross margin, 336–337
  • interest expense, 343–344
  • profit centers, 349–350
  • reducing costs, 351
  • sales revenue change, 335–336
• cost leadership, 59
• cost of goods sold
  • about, 272, 279
  • on balance sheet, 301–302
  • on Chart of Accounts, 249
  • cost control and, 336–337, 346–349
  • defined, 240
  • inventory shrinkage, 348–349
  • inventory write-downs, 348–349
  • selecting methods, 346–347
• cost superiority, 15
• costs
  • advertising, 338–339
  • employee, 338
  • with market expansion strategy, 478
  • reducing, 351
  • sales promotion, 338–339
• counseling, delegating, 449
• Courtyard by Marriott, 80
• Craigslist (website), 393
• creating
  • business model
    • about, 45–46
    • common aspects of, 47–49
    • evolution of, 46
    • examples of, 50–52
    • finding success with, 52–62
    • importance of, 45–46
    • simple, 49
    • who needs a, 46–47
  • career development plans, 562–563
  • code of ethics, 425–426
  • content to attract customers to websites, 199–208
  • deals, 128
  • impression inventory, 502
  • logos, 214
  • mass media schedule, 535–538
  • sustainable supply chain, 422
  • technology-competitive advantages, 434
  • websites
    • about, 195–196
    • attracting customers with content, 199–208
    • creating a web presence, 219
    • establishing visual identities, 208–214
    • Feng Shui, 196–198
    • inviting comments from customers, 214–218
• creative brief, 523
• creative strategy, 516–517
• creativity, 34–36
• Credit Cards Payable account, 255
• credits, 246–248
• cropping, 212–213
• cross defaults, 89
• crowdsourcing business model, 52
• Crowdspring.com, 53
• CSR. See corporate social responsibility (CSR)
• cultural fit, as job candidate characteristic, 390
• current assets
  • about, 294–295
  • accounts, 251
  • on Chart of Accounts, 249
• current liabilities
  • about, 294–295
  • accounts, 254–255
  • on Chart of Accounts, 249
• current ratio, 295–296
• customer base, retaining, 574–582
• customer loyalty
  • about, 422, 573–574
  • dissatisfied customers, 582–584
  • retaining customer base, 574–582
• customer perception, 464
• customer segments
  • for enhancing competitive advantage, 60–61
  • evaluating attractiveness of, 64
  • market segmentation strategy and, 481–482
• customer service, 578–581
• customers
  • analysis of, 10
  • determining attractiveness of, 73–75
  • finding, 461–463
  • inviting comments from, 214–218
  • knowing your, 454–463
  • listening to, 36–37
  • prospective, talking to, 31
  • putting yourself in shoes of, 499–500
• cut out the middle man business model, 51

D

• dafont (website), 211
• data, looking for at government websites, 20
• day job, leaving your, 184–186
• daypart, 142
• dealing with failure, 132
• deals, crafting, 128
• debenture, 132
• debits, 246–248
• debt, on balance sheet, 305
• Debt Zero LLC, 172
• deferred revenue, 274, 278–279
• delegating
  • about, 439–441
  • appropriate tasks for, 446–448
  • appropriate tasks to keep, 448–450
  • myths about, 441–445
  • reasons for, 440–441
  • steps in, 445–446
• deliveries, receiving, 159–160
• dental insurance, as a consideration before leaving day job, 184
• depreciation
  • about, 280–281
  • accumulated, 252–253
  • on balance sheet, 302–303
  • cost control and, 339–341
  • defined, 241
• Description column, in Chart of Accounts, 260
• detail work, delegating, 447
• developing
  • business plan, 186
  • CSR strategy for implementation, 422–424
  • effective marketing communications, 529–532
  • employees. See employee development
  • marketing plans, 194
  • a niche strategy, 23–24
  • technology plans, 434–436
• development, 562–563
• differentiation, 15, 54, 59
• digital media, 533, 534
• direct method, statement of cash flows and, 313–315
• direct sales business model, 51
• direct selling, with home-based business, 171
• direct variable expense, 336
• direction, provided by goals, 407
• directories, 534
• direct-unit franchises, 88
• discipline, delegating, 449
• discussion areas, on websites, 218
• disruptions, anticipating, 40–41
• disruptive innovations, 40–41
• distribution and delivery, as category of business possibilities, 33
• distribution channels, access to, as threat to new entrants, 13
• distribution strategies, 480
• dividends, 239
• doctrine of ostensible authority, 226
• Dollarshaveclub.com, 53
• Domino's Pizza, 53
• dots per inch (dpi), 199, 213
• double underline, 269
• double-entry bookkeeping, 192–193, 246–248
• downsizing, 601
• Drawing account, 256
• Dreamweaver (Adobe), 202–203, 215
• drive time, evaluating for franchises, 146–147
• dry storage, 161–162
• dual branding, 142
• DuckDuckGo (website), 19
• due diligence, doing, 127
• Dues and Subscriptions account, 259
• Duluth Trading Company, 48
• Dummies (website), 3
• Dunkin', 142
• DuraFlame, 56

E

• earnings. See profit
• earnings before income tax, 265
• earnings before interest and income tax. See operating expenses
• earnings per share (EPS), 266
• earnings statement. See income statement
• eBay (website), 219
• eBusiness Technology Kit For Dummies (Allen and Weisner), 435
• e-commerce, funding for, 119–121
• EcommerceBytes (website), 218
• economies of scale, as threat to new entrants, 13
• eCRATER (website), 219
• efficiency, improving, 431–432
• 80/20 rule, 414
• elevator pitch, 9
• e-mail
  • campaigns, for finding employees, 393
  • first impressions from, 494–495
• email feedback, 215–216
• employee development
  • about, 558–564
  • coaching, 564–566
  • reasons for, 558–560
• employee ownership, 595
• employees
  • analyzing cost of, 338
  • developing. See employee development
  • finding good, 390–393
  • listening to, 569
  • meeting with, 569
  • number of for small businesses, 270
  • trust of, 442
• employment agencies, for job candidates, 392
• employment eligibility, checking, 401
• enabling comments on web pages, 217–218
• encouragement, from coaches, 565
• encroachment, 147–149
• end user, 23
• enrolled agents (EAs), 377
• entrants, threats to new, 13–14
• Entrepreneur Media (website), 172
• entry strategy, 15
• envisioning your position, 486
• equipment account, 253
• Equipment Rental account, 259
• equity
  • about, 250
  • accounts, 256
  • on Chart of Accounts, 249
  • defined, 239
  • sources of, 324
• errors, in accounting records, 283–286
• errors and omissions insurance, 192, 383–384
• eSmart Tax (website), 374
• ethics
  • about, 424
  • creating a code of, 425–426
  • daily choices, 427
  • on the job, 424–425
• evaluating
  • communications, 500–501
  • competition, 31
  • drive times for franchises, 146–147
  • job candidates, 398–401
  • marketing materials, 500–501
  • mass media efforts, 538–539
  • target market, 63–64
• eventual replacement costs, 340
• E-Verify program (website), 401
• evolution, of business models, 46
• examples, of business models, 50–52
• exclusive territory, 87
• executive summary, 8–9, 105
• expense accounts, 258–260
• expenses
  • about, 256
  • on Chart of Accounts, 249
  • cost control and, 342–343
  • defined, 240
  • depreciation, 280–281
  • effect on assets/liabilities of, 273–274
  • prepaid, 280
  • recording, 278–282
• experience, as job candidate characteristic, 389
• expert advice, seeking, 114–115
• extended coverage, for home-based businesses, 191
• external balance sheet, 293
• external budgets, 360–361
• external image, 206
• eXtropia.com (website), 218

F

• Facebook
  • about, 543
  • advertising, 548
  • determining metrics for, 544–545
  • developing a plan for, 543–548
  • interacting with customers on, 546
  • lead-generating on, 547–548
  • website, 19, 219, 393, 399
• facilities expense, 333–334, 341–342
• facings, 163
• failures
  • dealing with, 132
  • preparing for, 468–469
• family
  • funding from, 121–122
  • NDAs and, 135
• FAQ, business plan, 106–107
• feasibility analysis
  • about, 8
  • business concept, 9
  • executive summary, 8–9
  • feasibility decision, 11
  • financial analysis, 11
  • genesis or founding team analysis, 10
  • industry analysis, 10
  • market/customer analysis, 10
  • product/service development analysis, 10
  • timeline to launch, 11
• features, of products, 526–527
• Federal Business Opportunities (website), 194
• Federation of Tax Administrators (website), 371
• FedEx, 55
• feedback
  • email, 215–216
  • provided by coaches, 566
• Feng Shui, for your website, 196–198
• field consultants, 96
• financial analysis, 11
• financial leverage, 308
• financial review, in business plan, 106
• financial statements, as step in accounting cycle, 242, 243
• financing
  • for e-commerce, 119–121
  • a traditional business, 118–119
• financing activities, 298, 324–325
• Find a Mentor (website), 570
• finding
  • angels, 122–123
  • assistance, 194
  • best industries, 67
  • changes leading to new opportunities, 37
  • customers, 461–463
  • expert advice, 114–115
  • good people as employees, 390–393
  • informative resources, 113–114
  • marketing formula, 463–466
  • mentors, 570–571
  • success with a business model, 52–62
  • suppliers, 157–158
  • target market
    • about, 63
    • customer attractiveness, 73–75
    • determining industry attractiveness, 64–68
    • gauging, 63–64
    • industry value chain, 75–77
    • niche attractiveness, 68–73
  • underserved markets, 72–73
  • unserved markets, 72–73
  • your place on industry value chain, 75–77
• fire insurance, for home-based businesses, 191
• Firehouse Subs, 83
• first impressions
  • about, 492
  • email, 494–495
  • online searches, 492–493
  • in person, 497–500
  • telephone, 495–497
  • website, 493–494
• first mover advantage, as way to gain differentiation, 59
• first-in, first-out (FIFO) accounting method, 347
• first-stage funding, 119
• Fisher, Paul (inventor), 61
• Five Guys, 69
• five-minute appearance test, 597–598
• fixed assets, 280–281, 302–303
• flat fee business model, 53
• flat market, 473–475
• flexibility
  • delegation and, 444–445
  • as job candidate characteristic, 389
• flighting, 537
• floor plan, of location, 151
• focus, 60
• focusing on target customers, 457–460
• Folgers, 75–76
• follow through, 570
• font, 518–519
• Font Squirrel's Webfont Generator (website), 211
• foot traffic, 498
• footprint, 151
• Ford Motor Company, 82
• forecasting budgeting, 357–360
• Form 1040 Schedule E Supplemental Income and Loss, 369
• Form 1065 U.S. Return of Partnership Income, 369
• form fields, 216
• Form I-9, 401
• forming partnerships, 226–227
• FormMail.To (website), 217
• forms, 216–217
• Forrester Research (website), 67, 473
• founding team, analysis of, 10
• franchise agreement, 99, 147–149
• franchise business model, 50
• franchise fee, 80
• franchisee, 79–80, 85–88, 93–94
• franchisee advisory councils (FACs), 93–94
• franchising
  • about, 79–80, 137
  • beginning construction, 152
  • brands in, 81–82
  • encroachment, 147–149
  • franchise agreement, 99
  • franchisee/franchisor relationship, 93–94
  • franchisees, 79–80, 85–88
  • franchisors, 79–80, 85–88, 144–146, 154–155, 175
  • as a home-based business, 171
  • implementing franchisor designs, 151
  • location options, 138–142
  • maintaining inventory, 161–164
  • master, 92
  • meeting requirements for your franchise, 150–153
  • merchandise, 153–158
  • pros and cons of, 95–99
  • rebates, 155–157
  • receiving merchandise, 158–160
  • relationships, 88–93
  • researching locations for, 142–147
  • success of, 80–81
  • supplies, 153–158
  • training, 164–167
  • types of franchises, 82–84
  • upcharges, 155–157
• franchisor
  • about, 79–80, 144–146, 175
  • buying goods from, 154
  • buying products approved by, 154–155
  • relationship with franchisee, 93–94
  • roles and goals of, 85–88
• free cash flow, 326–327
• Free Edgar (website), 19
• FreeFind (website), 208
• freemium business model, 52
• Freight Charges account, 258
• frequency, balancing with reach, 536–537
• friends
  • funding from, 121–122
  • NDAs and, 135
• front of the house, 162–164
• front-loading, 537
• Fuld + Company (website), 20
• Fuller Brush Company, 171
• full-time jobs, leaving for part-time business, 174–175
• funding
  • about, 117
  • finding angels, 122–123
  • from friends and family, 121–122
  • growth, 132–134
  • guarding interests, 134–135
  • IPOs, 128–132
  • planning for, 118–121
  • venture capital, 124–128
• furniture and fixtures account, 253
• future duties, delegating, 448

G

• gains, reporting, 282–284
• garbage in, garbage out concept, 353
• Gartner (website), 67, 473
• General Ledger, 241
• General Motors, 56
• generally accepted accounting principles (GAAP), 285
• genesis team, analysis of, 10
• Getting, Ivan (physicist), 61
• GIF format, 214
• gigs, turning into businesses, 29–30
• Global Coach Connect (website), 570
• goal-setting
  • about, 405–406
  • by coaches, 565
  • communicating goals and vision, 412–413
  • directions for, 406–408
  • identifying SMART goals, 408–410
  • juggling priorities, 413–415
  • making goals reality, 415–417
  • number of goals, 410–411
• goodwill account, 254
• Google (website), 19
• Google Images (website), 206, 210
• Google Search, 487
• gosmallbiz (website), 172
• go-to-market (GTM) strategy, 475–477
• government
  • legal requirements, for home-based businesses, 190–191
  • looking for data on websites, 20
  • regulations, as threat to new entrants, 14
• GPS system, 61
• The Great Beanie Baby Bubble: Mass Delusion and the Dark Side of Cute (Bissonnette), 480
• Green Irene, 171
• Greenfield, Jeff (author)
  • Negotiating Commercial Leases & Renewals For Dummies, 150
• gross margin. See gross profit margin
• gross profit, 265, 269
• gross profit margin, 17, 265, 269, 279, 336–337
• growth, funding, 132–134
• growth hacking, 487–489
• growth of business
  • about, 585–586
  • choosing management tools, 593–596
  • human resource issues, 589–591
  • redefining your role during, 599–602
  • stages in, 586–589
  • time-management issues, 591–593
  • troubleshooting challenges, 596–598
• growth opportunity, planning to seize, 109
• growth wave, 471
• growth years, 587
• guarding interests, 134–135
• guestbook, 217
• gut instinct, in hiring process, 402–403

H

• Häagen Dazs, 69
• hard working, as job candidate characteristic, 389
• headings, for websites, 203
• health insurance
  • as a consideration before leaving day job, 184
  • for home-based businesses, 173, 191
• heavy-up scheduling, 538
• height attribute, 206
• help
  • finding, 194
  • with information technology (IT), 436
  • offered by coaches, 567
• hiring process
  • about, 387
  • defining desirable characteristics, 388–390
  • evaluating candidates, 398–401
  • finding good people, 390–393
  • hiring the best, 401–403
  • interviewing, 394–398
  • job description, 387–388
  • for replacements, 602
• hobbies, turning into businesses, 29–30
• home page, 196–198
• home-based business
  • about, 169–170
  • basics of, 170–175
  • benefits of, 175–176
  • disadvantages of, 177–178
  • quiz for, 178–180
  • starting from scratch, 181–182
  • transitioning into, 182–194
  • types of, 170–172
• homeowner's policy, for home-based businesses, 192
• Hoovers (website), 19
• hosts, for websites, 199
• hotel california business model, 52
• The Huffington Post, 54
• human resources, issues with, 589–591

I

• icons, explained, 3
• identifying
  • business opportunities, 36–39
  • coach's tools, 566–567
  • key messages, 109–111
  • SMART goals, 408–410
  • strengths, 460–461
  • target audiences, 109–111
• The Illusions of Entrepreneurship: The Costly Myths That Entrepreneurs, Investors, and Policy Makers Live By (Shane), 64
• images
  • enhancing text on websites with, 206
  • sharing with Pinterest, 552–553
• implementing
  • franchisor designs, 151
  • strategic changes, 600–602
• impression inventory, 502
• impressions, improving, 503
• improving
  • competitive advantage, 60–62
  • efficiency, 431–432
  • impressions, 503
  • marketing strategy
    • about, 471–472
    • aligning positioning strategy with growth initiatives, 486–487
    • developing market share strategy, 483–485
    • growth wave, 471
    • market expansion, 475–481
    • market segmentation, 481–483
    • selling innovative products, 489
  • productivity, 431–432
  • website text with images, 206
• in person, first impressions from, 497–500
• Inc. (magazine), 67
• Inc. (website), 16, 19
• income expectations, with franchise ownership, 98
• income statement
  • about, 256–257
  • accounts for, 240
  • defined, 240
  • expenses, 258–260
  • reading, 271–273
  • recording money, 257
  • reporting gains/losses, 282–284
  • reporting profit or loss in, 263–286
  • tracking cost of goods sold, 258
  • typical, 264–268
• income tax expense, 306
• income tax payable, 281–282, 306
• incorporating coaching into day-to-day interactions, 569–570
• Indeed (website), 393
• independence, loss of, with franchise ownership, 97
• indirect method, statement of cash flows and, 315–316
• individual success, compared with team success, 565
• industry
  • about, 11–12
  • analysis of, 10
  • compared with market, 66
  • determining attractiveness of, 64–68
  • differing business models in same, 56–57
  • evaluating attractiveness of, 64
  • finding best, 67
  • framework of structure, 12–15
  • hostility, as threat to new entrants, 14
  • researching
    • about, 15–16
    • checking status, 16–17
    • competitive intelligence, 18–20
    • defining market niche, 21–24
• industry niche, evaluating attractiveness of, 64
• industry symposium, as a resource, 114
• industry trade associations, 20
• industry trade journal, as a resource, 114
• industry value chain, finding your place on, 75–77
• inelasticity, with franchise ownership, 98–99
• influence points, analyzing, 463–466
• information gathering, delegating, 447
• information technology (IT)
  • about, 429
  • automation, 430–431
  • company networks, 437
  • developing technology plans, 434–436
  • help with, 436
  • improving efficiency, 431–432
  • improving productivity, 431–432
  • neutralizing negatives, 432–433
  • using to your advantage, 433–436
• informative resources, locating, 113–114
• informed employee, 596
• inline image, 206
• innovation, for enhancing competitive advantage, 60
• innovative products, 489
• inserting images on websites, 212–214
• Instagram
  • about, 549
  • website, 19
• insurance, for home-based businesses, 191–192
• Insurance account, 259
• insurance agents/brokers, consulting before starting home-based businesses, 188
• intangible assets, 253, 304, 341
• intellectual property, as way to gain differentiation, 59
• interest, 241
• interest expenses
  • on balance sheet, 305
  • cost control and, 343–344
• Interest Income account, 257
• interests, 134–135
• Interim Healthcare, 83
• internal balance sheet, 293
• internal budgets, 360–361
• internal candidates, as job candidates, 391
• Internal Revenue Service
  • publications from, 372–373
  • website, 340, 367, 372, 401
  • websites, 374
• International Business Innovation Association (website), 194
• International Coach Federation (website), 570
• International Council of Shopping Centers (website), 143
• International Franchise Association (IFA), 80–81
• Internet
  • for finding employees, 392–393
  • researching job candidates on, 399
  • as a resource, 113
  • tax resources, 373–375
• interview outline, 388
• interviewing
  • about, 94
  • dont's, 397–398
  • do's, 395–396
  • questions to ask, 394–395
• Inventing For Dummies (Bird and Bird), 25
• inventions, licensing, 25
• inventor
  • becoming an, 24
  • teaming up with an, 24–25
• inventory
  • about, 279
  • on balance sheet, 301–302
  • defined, 241
  • maintaining, 161–164
  • on statement of cash flows, 319
• Inventory account, 251
• inventory shrinkage, 348–349
• inventory write-downs, 348–349
• inverted razor and blades business model, 50
• investing activities, 297–298, 323
• investment businesses, 267–268
• inviting comments from customers, 214–218
• invoices, verifying, 160
• iPad, 69
• IPOs, 128–132
• IT. See information technology (IT)
• iTunes, 54

J

• Jani-King, 171
• Jazzercise, 171
• Jell-O, 72
• job candidates
  • evaluating, 398–401
  • revisiting pool of during hiring process, 403
• job description, 387–388
• John Deere, 82
• joint employment, 165
• journal entries, 242, 243
• journals, 241
• JPEG format, 214
• juggling priorities, 413–415
• Just Good Business: The Strategic Guide to Aligning Corporate Social Responsibility and Brand (McElhaney), 423

K

• key messages, identifying, 109–111
• KFC, 142
• Kindle, 55
• KISS principle, 200–201
• Kleenex, 72
• knowledge
  • as source of power, 416
  • transferring from coaches, 567
• Komodo Edit, 209
• Kroger, 76

L

• land account, 252
• landlords, 144
• last-in, first-out accounting (LIFO) method, 347
• lawsuits, 574
• lawyers, consulting before starting home-based businesses, 187
• layout, of location, 150
• LCS system, 34–36
• leading people to your business, 497
• leasehold improvements account, 252
• leases, signing, 149–150
• Legal and Accounting account, 259
• legal issues, 173, 397–398
• legal structure
  • about, 221
  • benchmarking, 234
  • choosing, 188–190, 222–224
  • corporation, 228–231
  • limited liability company (LLC), 189, 223, 232–233
  • nonprofit, 233
  • partnership, 188–189, 226–228, 368–369
  • S corporation, 189–190, 228–229, 231–233, 369–370
  • sole proprietorship, 188, 223, 224–225, 367–368
• LEXIS/NEXIS, 114
• liabilities
  • about, 250
  • accounts, 254–255
  • on balance sheet, 300–306
  • current, 254–255
  • defined, 239
  • effect of revenues/expenses on, 273–274
  • long-term, 255
• liability insurance
  • for home-based businesses, 191
  • for tax advisors, 383–384
• library, as a resource, 113
• license to operate, 422
• licenses, 151–152, 422
• licensing inventions, 25
• lifestyle centers, for franchises, 139
• Like button, on Facebook, 548
• limited liability company (LLC)
  • about, 189, 223
  • compared with S Corporation, 232–233
  • tax reporting for, 370
• limited partnership, 188–189, 227
• LinkedIn
  • about, 550–552
  • website, 393, 399
• links
  • building, 488
  • for websites, 205
• liquidity, 293–296
• listening
  • to customers, 36–37
  • to employees, 569
• lists, for websites, 204–205
• living budget, 361–363
• Living Goods (website), 84
• Loans Payable account, 255
• locations
  • options for franchises, 138–142
  • researching for franchises, 142–147
  • as way to gain differentiation, 59
• logic, of niche markets, 71
• logos
  • choosing, 190
  • creating, 214
  • managing presentation of, 518
  • typestyle for, 518–519
• long tail business model, 51
• long-term assets
  • accounts, 252–254
  • on Chart of Accounts, 249
• long-term liabilities, 249, 255
• long-term vision and goals, delegating, 449
• looking for data at government websites, 20
• losers, as job candidate category, 400
• loss before income tax, 265
• loss leader business model, 51
• loss of control, after delegation, 442
• losses, reporting, 263–286, 282–284
• lower of cost or market test, 348

M

• magazines, 534
• mailto link, 215–216
• maintaining
  • brands, 516–519
  • inventory, 161–164
• malicious mischief coverage, for home-based businesses, 192
• malls, for franchises, 138
• management by objective, 595
• management tools, choosing, 593–596
• manager, transition to, 599–600
• managing
  • brand presentation, 518
  • coaching and, 564–566
  • logo presentation, 518
  • marketing program, 466–467
  • money, 172–173
• market exclusivity, 90
• market expansion strategy
  • about, 475
  • bestseller, 478–479
  • go-to-market (GTM) strategy, 475–477
  • offering more products, 477–478
• market niche, defining, 21–24
• market position, brand and, 510–513
• market segment, addressed in business model, 48
• market segmentation strategy, 481
• market share strategy
  • about, 483
  • defining metrics, 483
  • measuring in, 485
• market value, 309
• market value of real estate, 340
• marketing
  • evaluating materials, 500–501
  • finding formula for, 463–466
  • refining expectations, 467–469
• marketing communications
  • about, 521–522
  • creating mass media schedules, 535–538
  • developing effective, 529–532
  • evaluating efforts, 538–539
  • making media selections, 532–535
  • objectives for, 522–529
• marketing plans
  • about, 463
  • in business plan, 106
  • developing, 194
• marketing program
  • controlling, 466–467
  • finding marketing formula, 463–466
  • maximizing impact of, 469–470
  • refining marketing expectations, 467–469
• marketing pyramid, 462
• marketing strategy
  • about, 463, 471–472
  • aligning positioning strategy with growth initiatives, 486–487
  • developing market share strategy, 483–485
  • growth hacking, 487–489
  • growth wave, 471
  • market expansion, 475–481
  • market segmentation, 481–483
  • selling innovative products, 489
• markets
  • analysis of, 10
  • compared with industries, 66
  • narrowing your, 21–23
  • splitting, 70–72
• marquee box, 212
• Mary Kay, 171
• mass media
  • creating schedule for, 535–538
  • evaluating efforts, 538–539
• mass media channels, 533
• mass-gathering, 141
• master franchise fee, 92
• master franchising, 92
• Matt's Script Archive (website), 218
• maximizing impact of marketing program, 469–470
• McDonald's, 56–57, 69
• McElhaney, Kellie (author)
  • Just Good Business: The Strategic Guide to Aligning Corporate Social Responsibility and Brand, 423
• Measurable characteristic, of SMART goals, 409
• measuring
  • growth rate of market, 472–473
  • real cost of money, 125–126
  • success, 528
• media selections, 532–535
• medical insurance, as a consideration before leaving day job, 184
• meeting, with employees, 569
• mentoring
  • being a mentor, 570–571
  • finding mentors, 570–571
  • getting started, 560–564
• merchandise
  • about, 153–154
  • receiving, 158–160
• merchandisers, 163
• message, 111
• metes and bounds, 87
• me-too business, 511
• metrics
  • defining for market share strategy, 483
  • determining for Facebook, 544–545
• Microloan program, 134
• micromanager, 439
• Microsoft Expression Web (website), 204
• milestones, 112–113
• Minority Business Development Agency (website), 194
• minus signs, 268–269
• Miscellaneous Expenses account, 259
• mixed-use centers, 140
• money, managing, 172–173
• Monster (website), 393
• Motorola, 61
• multilevel marketing business model, 50, 171
• multi-unit development agreement, 89–91
• multiyear statements, 296
• myths, delegation, 441–445

N

• narrowing your market, 21–23
• NASA, 61
• NASDAQ (National Association of Securities Dealers Automated Quotation), 130–131
• National Association of Enrolled Agents (website), 377
• National Market System, 131
• navigation, for websites, 202–203
• negative cash flow, 322
• negative word-of-mouth, 574
• negatives, neutralizing in IT, 432–433
• Negotiating Commercial Leases & Renewals For Dummies (Willerton and Greenfield), 150
• negotiation, rules of, 124
• neighborhood centers, for franchises, 138–139
• net earnings. See profit
• net income. See profit
• network effect business model, 49, 52
• networking, 20
• networks, company, 437
• neutralizing negatives of IT, 432–433
• New York Stock Exchange (NYSE), 130–131
• New York Times (newspaper), 114
• newspapers, 114, 534
• Ng, Deborah (author)
  • Social Media Marketing All-in-One For Dummies, 4th Edition, 542
• niche markets, 71
• niche strategy, 15, 23–24, 482–483
• niches
  • determining attractiveness, 68–73
  • power of, 68
  • unlimited, 69
• nickel and dime business model, 53
• Nike, 48, 65
• NoChar, 56
• noncompete agreements, 32
• non-disclosure agreements (NDAs), 135
• nongovernmental organizations (NGOs), 84
• nonprofit organization, 233
• notes payable, on statement of cash flows, 294
• Notes Payable account, 255

O

• objectives
  • management by, 595
  • of marketing communications, 522–529
• objectivity, in hiring process, 402
• obtaining your competitive advantage, 58–60
• offer ads, on Facebook, 548
• Office Expenses account, 259
• off-street sites, for franchises, 140–141
• one-to-one marketing, 533
• ongoing benefits, of franchise ownership, 96–97
• online auctions business model, 52
• online branding, 507–508
• online media, using for researching industries, 19–20
• online searches, first impressions though, 492–493
• open-book management, 596
• operating activities, 297
• operating costs, reducing, 422
• operating earnings. See operating expenses
• operating expenses, 266, 303
• operating liabilities, 321–322
• operating system. See income statement
• organization costs account, 253
• Other Income account, 257
• Other Sales Costs account, 258
• our-parcels, 139
• outdoor media, 533
• outlet centers, 140
• outside professionals, consulting, 187–188
• outsourcing, 175
• over-dependence, with franchise ownership, 97

P

• Pampered Chef, 171
• Panera Bread, 69
• parking, 497
• participatory management, 595
• partners
  • about, 223
  • addressed in business model, 48
  • attracting, 422
  • retaining, 422
• partnerships
  • about, 188–189, 226
  • forming, 226–227
  • partnership agreement, 227–228
  • tax reporting for, 368–369
• passion, compared with profitability, 28–29
• pass-through entity, 333
• Patel, Neil (blogger), 489
• patents account, 253
• payroll, 241
• Payroll Taxes account, 259
• performance appraisals, delegating, 449
• permits, 151–152
• personal brands, balancing with business brands, 514–516
• personal inventory, 601–602
• personal management functions, automating, 430
• personal power, as source of power, 416
• personal referrals, for job candidates, 391
• perspective, transferring from coaches, 567
• Peter Principle, 600
• phishing, 488
• Pinterest, 19, 552–553
• pixels, 213
• Pizza Hut, 142
• placement of buildings/stores
  • finding customers with, 461
  • as influence point, 465
• planning
  • to address changing conditions, 108–109
  • with business plan, 103–105
  • for businesses, 30–31
  • for funding, 118–121
  • to seize growth opportunity, 109
  • for solo business, 108
  • for startup, 108
• planning objectives, established with business plan, 107–109
• plans, approving, 127
• playing up strengths, 460–461
• plugins, 217
• politically sensitive situations, delegating, 449–450
• position
  • conveying through taglines, 513–514
  • in market, 510–513
• position power, as source of power, 417
• positioning strategy
  • about, 485–486
  • determining, 511–513
  • envisioning your position, 486
• positive, reinforcing, 570
• positive performance feedback, delegating, 449
• Postage account, 259
• posting, as step in accounting cycle, 242, 243
• PostNet, 83
• potential winners, as job candidate category, 400
• power, of brands, 506–507
• power centers, 139–140
• premium business model, 53
• pre-opening benefits, of franchise ownership, 96
• prepaid expenses, 280, 319
• prepaid expenses asset account, 303
• presence, 195
• pricing, 61, 464
• pricing trap, 466
• primary offering, 129
• print media, 533
• priorities, juggling, 413–415
• privacy rights, 398
• problems, addressed in business model, 47, 48
• processes, automating, 430
• product category, 484
• product demonstrations, finding customers with, 461
• product development
  • analysis of, 10
  • becoming an inventor, 24
  • teaming up with an inventor, 24–25
• product distribution franchising, 82–83
• product liability coverage, for home-based businesses, 191
• product life cycle, 489
• productivity, improving, 431–432
• productization of services business model, 51
• product-oriented business, 264
• products
  • buying from competitors, 18–19
  • as influence point, 464
  • offering more, 477–478
  • selling, 489
• products for sale, as category of business possibilities, 33
• professional associations
  • finding customers with, 461
  • for job candidates, 392
  • as resources, 114
• professional liability insurance, for home-based businesses, 192
• professional service corporation, 190
• profit
  • about, 265, 272, 273
  • on balance sheet, 306
  • cash flow from, 316–322
  • effect of revenues/expenses on assets and liabilities, 273–274
  • reporting in income statement, 263–286
  • retained earnings and, 276–277
  • scenarios of, 274–276
• Profit and Loss (P&L) statement
  • about, 193
  • comparing with balance sheet, 344–346
• profit centers, 334, 349–350
• profit sharing, as a consideration before leaving day job, 184
• profitability, compared with passion, 28–29
• ProfNet (website), 20
• projecting improvements above base sales, 468
• promotion, as influence point, 464–465
• proof of concept, 9
• property, plant, and equipment (fixed assets), 302–303, 320–321
• proprietary factors
  • of business models, 53–56
  • as threat to new entrants, 13
  • as way to gain cost leadership, 59
• ProQuest eLibrary (website), 20
• prospective customers, talking to, 31
• protected market, 87
• protected territory, 87
• protecting brands, 516–519
• public companies
  • checking information on, 19
  • selling stock to the, 128–132
• Publication 17: “Your Federal Income Tax,” 372
• Publication 334: “Tax Guide for Small Business,” 372
• Publication 583: “Starting a Business and Keeping Records,” 372
• Publication 946, How To Depreciate Property, 340
• pulsing, 538
• Purchase Discount account, 258
• Purchase Returns account, 258
• Purchases account, 258
• PuroClean, 83

Q

• quality circles, 596
• quick ratio, 295–296

R

• radio, 534
• Rally's, 60, 69
• razor and blades business model, 50
• reach, balancing with frequency, 536–537
• real cost of money, calculating, 125–126
• real world, preparing for, 113–115
• reality, of goals, 415–417
• reality checks, carrying out, 40
• rebates, 155–157
• recasts, 363
• recording
  • expenses, 278–282
  • revenue, 278–282
• recruiting channels, traditional, 391–392
• red herring, 130
• Red Robin, 69
• reducing
  • costs, 351
  • operating costs, 422
• references, checking, 398–399
• referrals
  • finding customers with, 461
  • personal, for job candidates, 391
• refining marketing expectations, 467–469
• refrigerated storage, 162
• registered trademark (®) symbol, 519
• reinforcing positive, 570
• relationship power, as source of power, 416
• relationships, franchise, 88–93
• Relevant characteristic, of SMART goals, 409
• Remember icon, 3
• rent expense, 281
• Rent Expense account, 260
• Rent-A-Center, 74
• repaid Insurance account, 251
• repetitive assignments, delegating, 447
• replacements, hiring, 602
• reporting
  • gains, 282–284
  • losses, 282–284
  • on taxes for corporations, 369–370
  • on taxes for partnerships, 368–369
  • on taxes for sole proprietorships, 367–368
• researching
  • businesses, 31
  • industry
    • about, 15–16
    • checking status, 16–17
    • competitive intelligence, 18–20
    • defining market niche, 21–24
  • locations for franchises, 142–147
• resiliency, as job candidate characteristic, 389
• resolution, for website images, 213
• responding to email messages, 495
• Response-O-Matic (website), 217
• responsibility
  • of employees, 442
  • as job candidate characteristic, 389
• retained earnings
  • account, 256
  • defined, 239
  • profit and, 276–277, 306
• retaining partners, 422
• retirement, for home-based businesses, 173
• revenue
  • account, 256
  • on Chart of Accounts, 249
  • deferred, 274, 278–279
  • defined, 240
  • effect on assets/liabilities of, 273–274
  • recording, 278–282
• revenue model, addressed in business model, 48
• reviewing notes about job candidates, 399–400
• revisiting candidate pool in hiring process, 403
• Rise, Al (author)
  • The 22 Immutable Laws of Marketing, 72
• risks, with market expansion strategy, 478
• rivalry, among existing firms, 15
• road show, 131–132
• rolling forecasts, 363
• royalty, 80, 156

S

• S Corporations
  • about, 189–190, 223, 228–229, 231–232
  • compared with limited liability company (LLC), 232–233
  • tax reporting for, 369–370
• SafeAuto, 55
• Salaries and Wages account, 260
• Sale of Fixed Assets account, 257
• sales calls, finding customers with, 461
• sales capacity, provided by operating expenses, 335
• Sales Discounts account, 257
• sales mix, 336
• Sales of Goods or Services account, 257
• sales promotion cost, analyzing, 338–339
• Sales Returns account, 257
• sales revenue
  • about, 269
  • on balance sheet, 301
  • changing, 335–336
• sales tax, 370–371
• Sales Tax Collected account, 254
• sales volume, 335, 336–337
• samples, free, finding customers with, 461
• SBA 7(a) loans, 133
• SBA Express, 133
• scale, 59
• scams, for home-based businesses, 173
• Schedule C, Profit or Loss from Business, 367
• Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc., 369
• Schedule SE, Self-Employment Tax, 368
• schedules, committing to, 112
• search and research company, as a resource, 114
• search boxes, 206–208
• search engines, for researching industries, 19
• searchability, of websites, 206–208
• second opinion, 41–42
• secondary distribution, 129
• second-stage funding, 119
• secret partners, 227
• Securities and Exchange Commission (SEC), 19, 129, 130–131
• self-appraisals, conducting, 42–44
• self-starter, as job candidate characteristic, 389
• selling
  • ability to sell, for enhancing competitive advantage, 61
  • the business, 602
  • innovative products, 489
  • stock to the public, 128–132
• selling, general, and administrative expenses, 270, 272
• sensitive circumstances, delegating, 450
• serif typefaces, 211, 518
• Service Corps of Retired Executives (SCORE) (website), 194
• service development, analysis of, 10
• ServiceMaster Clean, 171
• service-oriented business, 266
• services for hire, as category of business possibilities, 33
• servitization of products business model, 51
• setting goals
  • about, 405–406
  • communicating goals and vision, 412–413
  • directions for, 406–408
  • identifying SMART goals, 408–410
  • juggling priorities, 413–415
  • making goals reality, 415–417
  • number of goals, 410–411
• Shaklee, 171
• Shane, Scott A. (author)
  • The Illusions of Entrepreneurship: The Costly Myths That Entrepreneurs, Investors, and Policy Makers Live By, 64
• sharing images with Pinterest, 552–553
• Sharper Image, 49
• shopping areas, for franchises, 140
• shortfalls, assessing, 565
• show-and-tell coaching, teaching through, 568
• shrinking market, 473–475
• signage, 498
• signature, email, 494
• signing leases, 149–150
• silent partners, 227
• similar-but-different business, 511
• Simply Hired (website), 393
• single entry accounting, 192–193
• single-level marketing, 171
• single-unit franchises, 88
• site criteria, 145
• SiteMiner (website), 208
• Skyliner, 512
• slogan. See taglines
• small business, 169, 270
• Small Business Administration (SBA), 114, 133–134
• Small Business Development Centers (website), 194
• SMART goals, identifying, 408–410
• smartness, as job candidate characteristic, 389
• Snap-on Tools, 171
• social franchising, 84
• social marketing
  • about, 541–542
  • Facebook
    • about, 543
    • advertising, 548
    • determining metrics for, 544–545
    • developing a plan for, 543–548
    • interacting with customers on, 546
    • lead-generating on, 547–548
    • website, 19, 219, 393, 399
  • finding customers with, 461
  • Instagram
    • about, 549
    • website, 19
  • LinkedIn, 550–552
  • Pinterest, 19, 552–553
  • Twitter
    • about, 548–549
    • for finding employees, 393
    • website, 19, 219
• Social Media Marketing All-in-One For Dummies, 4th Edition (Zimmerman and Ng), 542
• social networking. See social marketing
• socially responsible practices. See corporate social responsibility (CSR)
• Soft Scrub, 70
• software, for taxes, 373
• sole proprietorships
  • about, 188, 223, 224
  • advantages of, 225
  • disadvantages of, 225
  • tax reporting for, 367–368
• solo business, planning for, 108
• solvency, 293–296
• sounding boards, coaches as, 567
• Southwest Airlines, 54, 55
• Space Pen, 61
• spam, 216
• specialty centers, 140
• Specific characteristic, of SMART goals, 409
• splitting markets, 70–72
• spontaneous liabilities, 307
• Sport Clips, 83
• stability, as job candidate characteristic, 390
• Standard Industrial Classification Code (website), 16
• standards, email, 495
• Stanford University Office of Technology Licensing (website), 25
• Starbucks, 58, 60, 69, 75, 76, 422
• startup, planning for, 108
• start-up years, as a growth stage, 586–587
• statement of cash flows
  • about, 311–312
  • cash flow from profit, 316–322
  • direct method and, 313–315
  • indirect method and, 313–315
  • limitations of, 328–329
• Statista (website), 473
• status, of industry, 16–17
• Steak 'n Shake, 69
• stock, selling to the public, 128–132
• stockholders, 228
• straight-line method, 340
• strengths, 460–461
• Strengths, Weaknesses, Opportunities, and Threats (SWOT), 354–355
• stretch goal, 408
• strikingly (website), 202
• strong value proposition, 73
• style, for email messages, 495
• style guidelines, 517–518
• Suasive, 131
• subfranchisees, 92
• subscription model, 51
• substitute products/services, threats from, 14
• success
  • of coaching, 568–569
  • finding with a business model, 52–62
  • measuring, 528
• Sun Tzu (author)
  • The Art of War, 47
• superior branding, as way to gain differentiation, 59
• supervisors, checking references with, 399
• supplier bargaining power, threats from, 14
• suppliers, finding, 157–158
• supplies, 153–154
• Supplies account, 260
• support, from coaches, 565
• support services, for home-based businesses, 173
• surrogate roles, delegating, 448
• sustainable supply chain, creating, 422
• Swartz, Eric (verbal branding professional), 513–514

T

• table of contents, in business plan, 105
• Taco Bell, 142
• TagLine Guru (website), 513
• taglines, conveying brand and position through, 513–514
• Taiwan Semiconductor, 60
• talents, assessing, 565
• Talking Points Memo (website), 217
• Target, 57–58
• target audiences
  • current knowledge of, 524
  • focusing on, 457–460
  • identifying, 109–111
  • knowing who they are, 523–524
  • what you want them to know, 525–527
• target market
  • about, 63
  • customer attractiveness, 73–75
  • determining industry attractiveness, 64–68
  • gauging, 63–64
  • industry value chain, 75–77
  • niche attractiveness, 68–73
• Taser, 62
• task power, as source of power, 417
• tax advisors, 379–384
• tax attorneys, 378–379
• taxable income, 340
• taxes
  • about, 367–368
  • keeping up with rules for, 371–375
  • paying for home-based businesses, 173
  • professional help for, 375–384
  • reporting for corporations, 369–370
  • reporting for partnerships, 368–369
  • reporting for sole proprietors, 367–368
  • sales tax, 370–371
  • software for, 373
• TaxTopics.net (website), 375
• teaching, through show-and-tell coaching, 568
• team
  • coaches making time for, 566
  • communicating your vision to your, 412–413
  • inspiring creativity in, 34–36
• team player, as job candidate characteristic, 389
• team success, compared with individual success, 565
• Technical Stuff icon, 3
• technological leverage, as way to gain cost leadership, 59
• technology. See information technology (IT)
• The Tech Coast Angels, 123
• telephone, first impressions from, 495–497
• Telephone account, 260
• temporary agencies, for job candidates, 391–392
• term sheets, 120
• terminology, bookkeeping, 239–241
• testing business ideas, 39–44
• text, enhancing on websites with images, 206
• theft coverage, for home-based businesses, 192
• theme/festival centers, 140
• third-stage funding, 119
• threats
  • from buyers' bargaining power, 14
  • to new entrants, 13–14
  • from substitute products/services, 14
  • from suppliers' bargaining power, 14
• thumbnail, 206
• tile images, in background, 210
• time frame
  • establishing, 112–113
  • for marketing communications, 528–529
• Time-bound characteristic, of SMART goals, 409
• timeline to launch, 11
• time-management, issues with, 591–593
• timing ads, 537–538
• Tip icon, 3
• <title> tag, 204
• titles, for web pages, 204
• tombstone, 130
• tone
  • for email messages, 495
  • for website, 201–202
• tools, for budgeting
  • CART, 353–354
  • flash reports, 355–356
  • SWOT, 354–355
• Toyota, 48, 53, 54
• tracking venture capital process, 126–128
• Tracy, John A. (author)
  • Cash Flow For Dummies, 294
• Tracy, Tage C. (author)
  • Cash Flow For Dummies, 294
• trade shows, 114
• trade shows, finding customers with, 461
• trademark (_TM) symbol, 519
• trading area, 147
• traditional business, financing a, 118–119
• traditional job-hunting sites, for finding employees, 393
• traditional recruiting channels, 391–392
• training, 164–167
• transactions, 241–242, 243, 297–299
• transferring calls, 496
• transition stage, in growth, 587–589
• transitioning, into home-based businesses, 182–194
• Travel and Entertainment account, 260
• Treetops, 512
• trend analysis, 296
• trial balance, 241, 242, 243
• trial coupons, finding customers with, 461
• tripwires, 488–489
• Trout, Jack (author)
  • The 22 Immutable Laws of Marketing, 72
• trust, for employees, 442
• TV, 534
• The 22 Immutable Laws of Marketing (Trout), 72
• Twin Peaks, 83
• Twitter
  • about, 548–549
  • for finding employees, 393
  • offering of, 49
  • website, 19, 219
• Type column, in Chart of Accounts, 260
• typefaces, for websites, 210–211
• typestyle, for logo, 518–519

U

• uncertainty, 12
• underserved markets
  • finding, 72–73
  • working in, 67–68
• underwriters, choosing, 130
• unenrolled preparers, 376–377
• unique supplier relationship, as way to gain differentiation, 59
• unlimited niches, 69
• unserved markets
  • finding, 72–73
  • working in, 67–68
• upcharges, 155–157
• U.S. Census Bureau (website), 20
• U.S. Department of Commerce (website), 20
• U.S. Patent and Trademark Office (website), 194
• U.S. Tax Code On-Line (website), 375
• users as experts business model, 52
• Utilities account, 260

V

• value, of brands, 506–507
• value chain, 48, 75–77
• value proposition, addressed in business model, 48
• vandalism coverage, for home-based businesses, 192
• variance report, 364
• variances, 152
• vBulletin (website), 218
• vehicle insurance, for home-based businesses, 192
• vehicles account, 252, 260
• venture capital, 119, 124–128
• vertical integration, as way to gain cost leadership, 59
• vision
  • communicating your, 412–413
  • provided by coaches, 567
• vision insurance, as a consideration before leaving day job, 184
• VisionSpring (website), 84
• Vistaprint, 55, 65, 68
• visual identities, establishing, 208–214
• voicemail messages, 496
• Volkswagen, 530

W

• Walk-In Lab, 54
• Wall Street Journal (newspaper), 114, 392
• wallpaper, for websites, 209–210
• Walmart, 53, 54, 57–58, 71
• want ads, for job candidates, 392
• Warning! icon, 3
• Waste Management, 65
• Web Marketing Today (website), 211
• web pages, 204
• WebAward Competition (website), 208
• Webby Awards (website), 208
• websites
  • Affordable Care Act (2010), 185
  • American Institute of Certified Public Accountants, 378
  • Ask, 19
  • Barron's (magazine), 67
  • Bing, 19
  • Bloomberg Businessweek, 16
  • Bloomberg Businessweek (magazine), 67
  • Bureau of Labor Statistics, 20
  • Career Builder, 393
  • Cheat Sheet, 3
  • clip art for, 211–212
  • Clip Art Universe, 211
  • Clipart.com, 211
  • CNN Business, 67
  • for coaching, 570
  • The Coaching and Mentoring Network, 570
  • color for, 209–210
  • Corel, 213
  • Craigslist, 393
  • creating
    • about, 195–196
    • attracting customers with content, 199–208
    • creating a web presence, 219
    • establishing visual identities, 208–214
    • Feng Shui, 196–198
    • inviting comments from customers, 214–218
  • dafont, 211
  • discussion areas on, 218
  • DuckDuckGo, 19
  • Dummies, 3
  • eBay, 219
  • EcommerceBytes, 218
  • eCRATER, 219
  • Entrepreneur Media, 172
  • eSmart Tax, 374
  • E-Verify program, 401
  • eXtropia.com, 218
  • Facebook, 19, 219, 393, 399
  • Federal Business Opportunities, 194
  • Federation of Tax Administrators, 371
  • Find a Mentor, 570
  • for finding employees, 393
  • first impressions from, 493–494
  • Font Squirrel's Webfont Generator, 211
  • FormMail.To, 217
  • Forrester, 473
  • Forrester Research, 67
  • Free Edgar, 19
  • FreeFind, 208
  • Fuld + Company, 20
  • Gartner, 67, 473
  • Global Coach Connect, 570
  • Google, 19
  • Google Images, 206, 210
  • gosmallbiz, 172
  • headings for, 203
  • Hoovers, 19
  • Inc., 16, 19
  • Inc., 67
  • Indeed, 393
  • Instagram, 19
  • Internal Revenue Service, 340, 367, 372, 374, 401
  • International Business Innovation Association, 194
  • International Coach Federation, 570
  • International Council of Shopping Centers, 143
  • LinkedIn, 393, 399
  • links for, 205
  • lists for, 204–205
  • Living Goods, 84
  • Matt's Script Archive, 218
  • Microsoft Expression Web, 204
  • Minority Business Development Agency, 194
  • Monster, 393
  • National Association of Enrolled Agents, 377
  • Patel, Neil (blogger), 489
  • Pinterest, 19
  • privacy rights, 398
  • ProfNet, 20
  • ProQuest eLibrary, 20
  • Response-O-Matic, 217
  • SBA (Small Business Administration), 133
  • searchability of, 206–208
  • Service Corps of Retired Executives (SCORE), 194
  • Simply Hired, 393
  • SiteMiner, 208
  • Small Business Development Centers, 194
  • Standard Industrial Classification Code, 16
  • Stanford University Office of Technology Licensing, 25
  • Statista, 473
  • strikingly, 202
  • TagLine Guru, 513
  • taglines, 513
  • Talking Points Memo, 217
  • TaxTopics.net, 375
  • Twitter, 19, 219, 393
  • typefaces for, 210–211
  • U.S. Census Bureau, 20
  • U.S. Chamber of Commerce, 194
  • U.S. Department of Commerce, 20
  • U.S. Patent and Trademark Office, 194
  • U.S. Securities & Exchange Commission, 19
  • U.S. Tax Code On-Line, 375
  • vBulletin, 218
  • VisionSpring, 84
  • wallpaper for, 209–210
  • Web Marketing Today, 211
  • WebAward Competition, 208
  • Webby Awards, 208
  • Wolters Kluwer Tax & Accounting, 375
  • Yahoo, 19
  • Yelp, 19
• Weisner, Jon (author)
  • eBusiness Technology Kit For Dummies, 435
• Weissman, Jerry (management consultant), 131
• Wendy's, 56–57, 69
• what-if analysis, 361–363
• White Castle, 69
• width attribute, 206
• Willerton, Dale (author)
  • Negotiating Commercial Leases & Renewals For Dummies, 150
• WingStreet, 142
• winners, as job candidate category, 400
• Wolters Kluwer Tax & Accounting (website), 375
• workers' compensation, for home-based businesses, 192
• worksheet, as step in accounting cycle, 242, 243
• write-downs of inventory, 348–349
• writing
  • business plan
    • about, 103
    • anatomy of, 105–107
    • establishing time frame, 112–113
    • identifying key messages, 109–111
    • identifying target audiences, 109–111
    • planning, 103–105
    • planning objectives, 107–109
    • preparing for real world, 113–115
  • creative strategy, 516–517
• writing off, 283

X

• Xerox, 55–56, 72

Y

• Yahoo (website), 19
• Yelp (website), 19
• yourself, knowing, 454–463

Z

• Zappos.com, 53
• Zimmerman, Jan (author)
  • Social Media Marketing All-in-One For Dummies, 4th Edition, 542
• Zipcar, 53