Starting a Business All-in-One For Dummies®
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Table of Contents
Cover
Introduction
About This Book
Foolish Assumptions
Icons Used in This Book
Where to Go from Here
Book 1: Moving from Idea to Reality
Chapter 1: Your Business in Context
An Overview of Feasibility Analysis
Understanding Your Industry
Researching an Industry
Defining Your Market Niche
Zeroing In on a Brand-New Product
Chapter 2: Refining and Defining Your Business Idea
Recognizing the Power of a Good Idea
Brainstorming New Business Ideas
Identifying Business Opportunities
Putting a Promising Idea to the Test
Chapter 3: Creating a Business Model
Identifying Who Needs a Business Model
Common Aspects of All Business Models
Business Models in Their Simplest Form
Examples of Business Models
Finding Success with a Business Model
Chapter 4: Finding Your Target Market
Gauging the Target Market
Determining Industry Attractiveness
Looking for Niche Attractiveness
Checking Out Customer Attractiveness
Finding Your Place on the Industry Value Chain
Chapter 5: Considering a Franchise
Understanding What a Franchise Is
Recognizing the Importance of Brands in Franchising
Identifying the Three Types of Franchising
Being Aware of the Roles and Goals of Franchisors and Franchisees
Reviewing Franchise Relationships
Nuances of the Franchisor/Franchisee Relationship
Considering the Pros and Cons of Franchising
Book 2: Planning for Your Business
Chapter 1: Writing a Business Plan
Selling Yourself on the Importance of Business Planning
The Anatomy of a Business Plan
Setting Out Your Planning Objectives
Identifying Your Business Plan Audiences and Key Messages
Establishing Your Plan’s Time Frame
Preparing for the Real World
Chapter 2: Finding the Funding
Starting with a Plan
Tapping Friends and Family
Finding an Angel
Daring to Use Venture Capital
Selling Stock to the Public: An IPO
Finding Other Ways to Finance Growth
Guarding Your Interests
Chapter 3: Setting Your Franchise’s Wheels in Motion
Surveying Your Options for Locale
Finding Your Franchise’s Habitat
Protected Areas, Exclusive Areas, and Encroachment Policies
Signing the Lease
Meeting Your Franchise’s Requirements
Getting the Goods: Merchandise and Supplies
Receiving Merchandise
Maintaining Inventory
Getting Good Training for Yourself and Your Management
Chapter 4: Starting a Home-Based Business
Looking at the Basics of Home-Based Business
Examining the Good News and the Bad
Taking the Home-Based Business Quiz
Starting Something from Scratch
Transitioning into Your Home-Based Business
Chapter 5: Creating an Online Presence for Your Business
Feng Shui-ing Your Website
Creating Content That Attracts Customers
Nip and Tuck: Establishing a Visual Identity
Inviting Comments from Customers
Moving from Website to Web Presence
Chapter 6: Starting with the Right Legal Structure
Introducing the Legal Business Classifications
Going It Alone: The Sole Proprietorship
Choosing a Partner: The Partnership
Going for the Gold: The Corporation
Offering Flexibility: The S Corporation, the LLC, and the Nonprofit Corporation
Benchmarking Your Best Choice
Book 3: Handling Your Finances
Chapter 1: Setting Up the Books
Bookkeepers: The Record Keepers of the Business World
Wading through Basic Bookkeeping Lingo
Pedaling through the Accounting Cycle
Tackling the Big Decision: Cash-Basis or Accrual Accounting
Seeing Double with Double-Entry Bookkeeping
Differentiating Debits and Credits
Outlining Your Financial Road Map with a Chart of Accounts
Starting with the Balance Sheet Accounts
Tracking the Income Statement Accounts
Setting Up Your Chart of Accounts
Chapter 2: Reporting Profit or Loss in the Income Statement
Presenting Typical Income Statements
Taking Care of Housekeeping Details
Being an Active Reader
Deconstructing Profit
Pinpointing the Assets and Liabilities Used to Record Revenue and Expenses
Reporting Unusual Gains and Losses
Watching for Misconceptions and Misleading Reports
Chapter 3: Showing Financial Condition in the Balance Sheet
Expanding the Accounting Equation
Presenting a Proper Balance Sheet
Judging Liquidity and Solvency
Understanding That Transactions Drive the Balance Sheet
Sizing Up Assets and Liabilities
Financing a Business: Sources of Cash and Capital
Recognizing the Hodgepodge of Values Reported in a Balance Sheet
Chapter 4: Reporting Cash Sources and Uses in the Statement of Cash Flows
Meeting the Statement of Cash Flows
Explaining the Variance between Cash Flow and Net Income
Sailing through the Rest of the Statement of Cash Flows
Pinning Down “Free Cash Flow”
Looking at Limitations of the Statement of Cash Flows
Chapter 5: Controlling Costs and Budgeting
Getting in the Right Frame of Mind
Getting Down to Business
Looking into Cost of Goods Sold Expense
Focusing on Profit Centers
Reducing Your Costs
Deciding Where the Budgeting Process Starts
Homing In on Budgeting Tools
Preparing an Actual Budget or Forecast
Understanding Internal versus External Budgets
Creating a Living Budget
Using the Budget as a Business-Management Tool
Using Budgets in Other Ways
Chapter 6: Satisfying the Tax Man
Tax Reporting for Sole Proprietors
Filing Tax Forms for Partnerships
Paying Corporate Taxes
Taking Care of Sales Taxes Obligations
Keeping Up with and Researching Tax Strategies and Rules
Paying for Tax Help
Book 4: Managing Your Business
Chapter 1: Tackling the Hiring Process
Starting with a Clear Job Description
Defining the Characteristics of Desirable Candidates
Finding Good People
Becoming a Great Interviewer
Evaluating Your Candidates
Hiring the Best (and Leaving the Rest)
Chapter 2: Setting Goals
Knowing Where You’re Going
Identifying SMART Goals
Setting Goals: Less Is More
Communicating Your Vision and Goals to Your Team
Juggling Priorities: Keeping Your Eye on the Ball
Using Your Power for Good: Making Your Goals Reality
Chapter 3: Embracing Corporate Social Responsibility
Understanding Socially Responsible Practices
Developing a CSR Strategy for Implementation
Doing the Right Thing: Ethics and You
Chapter 4: Managing with Technology
Weighing the Benefits and Drawbacks of Technology in the Workplace
Using Technology to Your Advantage
Getting the Most Out of Company Networks
Chapter 5: Delegating to Get Things Done
Delegating: The Manager’s Best Tool
Debunking Myths about Delegation
Taking the Six Steps to Delegate
Sorting Out What to Delegate and What to Do Yourself
Book 5: Marketing and Promotion
Chapter 1: Optimizing Your Marketing Program
Know Yourself, Know Your Customer
Finding Your Marketing Formula
Controlling Your Marketing Program
Refining Your Marketing Expectations
Revealing More Ways to Maximize Your Marketing Impact
Chapter 2: Laying a Foundation for Growth
Measuring the Growth Rate of Your Market
Responding to a Flat or Shrinking Market
Finding Your Best Growth Strategies
Growing a Market Segmentation Strategy
Developing a Market Share Strategy
Designing a Positioning Strategy
Growth Hacking to Build Leads and Market Share
Selling Innovative Products
Chapter 3: Taking Stock of Your Business Image
Making First Impressions
Auditing the Impressions Your Business Makes
Chapter 4: Forging Your Brand
Recognizing What Brands Are and What They Do
Building a Powerful Brand
Your Market Position: The Birthplace of Your Brand
Conveying Your Position and Brand through Taglines
Balancing Personal and Business Brands
Maintaining and Protecting Your Brand
Chapter 5: Creating Marketing Communications That Work
Starting with Good Objectives
Developing Effective Marketing Communications
Making Media Selections
The Making of a Mass Media Schedule
Evaluating Your Efforts
Chapter 6: Social Marketing: Facebook, Twitter, Instagram, LinkedIn, and Pinterest
Using Facebook for Engagement That Builds Sales
Building Your Twitter Presence
Igniting Your Social Presence on Instagram
Expanding Your Network through LinkedIn
Promoting Your Brand with Pinterest
Book 6: Staying in Business
Chapter 1: Developing Employees Through Coaching and Mentoring
Understanding Why Employee Development Is Important
Getting Down to Employee Development
Coaching Employees to Career Growth and Success
Finding a Mentor, Being a Mentor
Chapter 2: Keeping Your Customers Loyal
Retaining Your Customer Base
Dealing with Dissatisfied Customers
Chapter 3: 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
Index
About the Authors
Connect with Dummies
End User License Agreement
List of Tables
Book 1 Chapter 3
TABLE 3-1 Types of Business Models
Book 1 Chapter 4
TABLE 4-1 Value Chain for Coffee
TABLE 4-2 Value Added for Coffee
Book 3 Chapter 1
TABLE 1-1 How Credits and Debits Impact Your Accounts
Book 3 Chapter 6
TABLE 6-1 Comparison of Tax Obligations for Sole Proprietors
Book 5 Chapter 1
TABLE 1-1 Marketing to Millennials
TABLE 1-2 Marketing to Generation Xers
TABLE 1-3 Marketing to Baby Boomers
TABLE 1-4 Getting a Grip on Your Marketing Program
Book 5 Chapter 5
TABLE 5-1 Features versus Benefits
TABLE 5-2 Mass Media Comparisons
List of Illustrations
Book 1 Chapter 1
FIGURE 1-1: Finding your niche.
Book 1 Chapter 4
FIGURE 4-1: Bell curves for the household cleaner market.
FIGURE 4-2: Entering the market on the fringes.
Book 2 Chapter 2
FIGURE 2-1: Three stages for financing the typical business.
Book 2 Chapter 5
FIGURE 5-1: A home page is the point from which your site branches into more spe...
FIGURE 5-2: This arrangement divides the site into two sections.
FIGURE 5-3: A mobile site’s home page needs to be simple and load quickly.
FIGURE 5-4: Many surfers prefer using a search box to clicking links.
Book 2 Chapter 6
FIGURE 6-1: This chart shows a summary comparison of legal categories of busines...
FIGURE 6-2: Six questions point you in the right direction for choosing your leg...
Book 3 Chapter 1
FIGURE 1-1: The accounting cycle.
Book 3 Chapter 2
FIGURE 2-1: Typical income statement for a business that sells products.
FIGURE 2-2: Typical income statement for a business that sells services.
FIGURE 2-3: Typical income statement for an investment business.
FIGURE 2-4: Fundamental natures of revenue and expenses.
FIGURE 2-5: Comparing asset and liability changes for three profit scenarios.
Book 3 Chapter 3
FIGURE 3-1: Expanded accounting equation.
FIGURE 3-2: Illustrative two-year comparative balance sheet for a product busine...
FIGURE 3-3: Summary of changes in assets, liabilities, and owners’ equity during...
Book 3 Chapter 4
FIGURE 4-1: The statement of cash flows, illustrating the direct method for cash...
FIGURE 4-2: The statement of cash flows, illustrating the indirect method for pr...
Book 3 Chapter 5
FIGURE 5-1: Your income statement for cost control analysis.
FIGURE 5-2: Analyzing your gross margin increase.
FIGURE 5-3: Your year-end balance sheets.
FIGURE 5-4: A basic SWOT analysis.
FIGURE 5-5: A quarterly forecast.
FIGURE 5-6: What-if forecasts.
FIGURE 5-7: Variance analysis.
Book 5 Chapter 4
FIGURE 4-1: This formula helps you build a positioning statement.
Guide
Cover
Table of Contents
Begin Reading
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