Starting a Business When You're Afraid to: The Step-by-Step Blueprint to Getting Rich Fearlessly

by Michaela Cavallaro

Overview

Do you want to be your own boss? Here are all of the facts, tips and tricks of the trade you need to know to open and operate your own business

This comprehensive guide provides all of the information you need to evaluate your big idea, find the perfect space, hire the right staff, and get a steady stream of customers coming in the door. From legal and accounting, to HR and inventory management, StartiYour Own Business and Be Free guides entrepreneurs through the essential steps and strategies to launch a company that will stand the test of time.

Product Details

ISBN-13:	9781951274528
Publisher:	Centennial Books
Publication date:	01/12/2021
Pages:	192
Product dimensions:	7.50(w) x 9.40(h) x 0.70(d)

About the Author

Michaela Cavallaro has spent her career figuring out how things work, then sharing what she's learned. Over the last 20 years, she's untangled the deregulation of the electric grid, explained the interconnection of artificial intelligence and the stock market, demystified chip cards, and learned more than any one person should know about the U.S. retirement system. Michaela lives in Maine with her teenage daughter and two small dogs, all of whom remain utterly inscrutable.

Table of Contents

Introduction

Want to Open Your Own Business? Start With Some Careful Planning 6

Chapter 01 Getting Started

Reasons to Start Your Own Business 10

Entrepreneurship by the Numbers 16

What Makes a Good Business Concept? 20

Doing Market Research for Your Business Plan 22

Timing Is Everything 26

The Noticeable Perks of Running Your Own Home-Based Business 30

Naming Your Business 34

Smart Business Strategies 36

Deciding on a Business Location 40

Chapter 02 Business Successes

Low Investment, High Probability of Success 46

Success Stories From the Trenches 50

Big Names, Humble Beginnings 54

Chapter 03 Franchising Vs. Buying

Different Types of Franchises 62

Understanding Your Role as a Franchisee 66

Growing a Franchise 70

The Advantages and Disadvantages of Buying an Existing Business 72

Chapter 04 Organizing Finances

Financing Your Business 76

Choosing a Business Structure 79

Bookkeeping Basics 82

Licenses and Regulations 85

Protecting Your Business With the Right Insurance 88

Paying Taxes as a Small Business 91

Understanding Profitability 94

Saving for Retirement When You're an Entrepreneur 96

Chapter 05 Managing Employees

When to Hire More Staff 100

Recruiting and Hiring 102

Management and Retention 104

Employee Benefits 107

Chapter 06 Optimizing Operations

Setting Clear Goals 112

Managing Cash Flow and Creating a Budget 114

Working With Vendors 118

Real Estate: Should You Lease or Buy? 121

Legal Steps When Starting a Business 124

Create a Disaster Strategy for Your Small Business 128

Buying vs. Leasing Goods 132

Managing Inventory 134

Deciding How Much to Charge 137

Chapter 07 Marketing

Building Your Business' Identity 142

Effective Advertising, Social Media and More 146

Sizing Up the Competition 150

Understanding Your Customer 154

Chapter 08 Looking Ahead

Work-Life Balance for Entrepreneurs 160

Change Is the Only Constant 163

Expanding or Acquiring Another Business 166

Exit Strategies and Succession Plans 169

Diversifying Your Wealth 172

Chapter 09 Worksheets

Business Plan Prep 176

Brand Development 177

Market Research 178

Business Structures at a Glance 179

Cash Flow 180

Staying on Top of Your Budget 181

Profit and Loss 182

Small-Business Resources 183

Your Retirement Options at a Glance 184

Disaster Resources 185