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Small Business Toolkit - Table of Contents

Starting Your Business
Examine what's involved in starting your own business, and assess whether self-employment is right for you.
Do You Have What It Takes?
Responsibilities of Ownership
Pros and Cons of Owning a Business
Roles You'll Be Expected to Play
What Are Your Goals?
Economic Goals
Personal Goals
Retirement Goals
Why Goals Are Important
How to Quantify Your Goals
Do You Have the Right Stuff?
Assessing Your Strengths
Essential Qualities for Owners
Compensating for Weaknesses
Can You Handle the Impact on Your Life?
The Right Small Business for You
Choosing a Type of Business
Market Research Techniques
Niche Marketing
Additional Social Trends
Choosing a Business: Common Mistakes
Matching Skills to Businesses
Buying a Business or Franchise
Why Buy a Business?
Finding a Business to Buy
Researching the Business
Deciding Whether to Buy the Business
Why Buy a Franchise?
Franchise vs. New Business
Franchise vs. Existing Business
Finding a Franchise
Investigating the Franchise
Deciding Whether to Buy the Franchise
Evaluating Your Chance for Success
Market Assessment
Profitability Assessment
Making a Family Budget
Costs of Setting Up the Business
Hiring Professionals
Getting Insurance
Advertising and Marketing Costs
Hiring Employees
Planning the Physical Space
Special Rules for Retail Businesses
Miscellaneous Startup Costs
Cost of Raising Money
Case Study: Startup Costs
Costs of Running the Business
The First 90 Days
Case Study: The First 90 Days
Forecasting Sales
Estimating Sales: Trade Publications
Estimating Sales: Product Vendors
Estimating Sales: Census Figures
Cash Flow Peaks and Valleys
Cash Flow Forecasting
Some Cash Flow What-Ifs
Filling Cash Flow Shortages
Wearing the Parachute
Hiring Family Members
Franchising
Hiring a Manager
Using a Home Office
Starting Part Time
Know When to Cut Your Losses
Financing Assessment
Legal Assessment
Researching Your Industry
Federal Information Resources
Case Study: Government Information
SCORE: Free Business Counseling
Customized Economic Research
State and Local Government Help
Sources of Exporting Information
Getting Started
Choosing Professionals to Assist You
Building a Business Plan
Organizing Your Business
Choosing a Form of Organization
Starting Sole Proprietorships
Starting Partnerships
Starting General Partnerships
Starting Limited Partnerships
Starting Limited Liability Companies
Doing Business Out-of-State: Foreign Qualification
The Foreign Qualification Process
Selecting a Registered Agent for Your Business
Starting Corporations
Starting S Corporations
Starting Tax-Exempt Organizations
Starting Nonprofit Corporations
Naming Your Business
DBA (Doing Business As) Filings
Getting a Loan for Your Business
Setting Up Your Books
Keeping Good Records
Amortizing Your Startup Expenses
Getting Off the Ground
Where to Open Your Business
Home Office or Leased Space?
Choosing the Geographic Location
Leasing Office Space
Business Incubators
When to Open Your Business
Buying or Leasing Equipment
Marketing Your Product or Service
Getting Licenses and Permits
Finding Contractors and Suppliers
Hiring Employees
Joining a Trade Association
Protecting Yourself and Your Ideas
Buying Insurance for Your Business
Protecting Your Ideas
Now That You're Up and Running
Determining If You're Succeeding
The First Step to Success: Infancy
The Second Step: Survival
The Third Step: Nominal Success
Avoiding Common Pitfalls
Securing Your Success
Opening the Mail
Practicing Computer Security
Maintaining Confidentiality
Using Locks, Alarms, and Cameras
Managing Risk
Liability Insurance
Special Insurance
Property Insurance
Recognizing and Resolving Problems
Cash Flow Clogs
Accounting Enigmas
Marketing Snafus
Working Smarter
Managing Your Time Better
Managing Your Technology Needs
Employment Issues
Outgrowing Facilities
Planning Your Business
Learn how to create a winning business plan.
What Can a Business Plan Do for You?
Benefits of a Written Plan
Reality Check
Your Business's Resume
Timetable for Operations
Modeling Tool
Tracking Your Progress
Adjusting Operations
Planning for the Future
Events Triggering the Need for a Plan
Business Plan for a New Business
Business Expansion
New Products
New Markets
New Geographic Markets
New Customers in Existing Market
New Distribution Channel
Acquisitions and Franchise Opportunities
Preparing to Write Your Business Plan
Who Are Your Audiences?
Your Plan's Internal Audience
Your Plan's External Audience
How Far Out Can You Plan?
Planning for Your Type of Business
Service Businesses
Product-Based Businesses
Mixed Goods and Services
Sources of Information
Analysis of Your Present Situation
Business Records
Market and Marketing Data
SWOT Analysis
Establishing Reasonable Assumptions
The General Business Environment
Assumptions Regarding Your Business
Events Outside Your Control
Writing Your Business Plan
Format and Presentation Issues
Cover Page and Table of Contents
The Executive Summary
Business Background
The Business Entity
Product or Service Description
Business Facility Assessment
Planning for People
Marketing Plans
Market Analysis
Marketing Strategy
Marketing and Sales Plan
Action Plans
Planning Your Business Operations
Planning Management Activities
Planning for Contingencies
Financial Statements and Projections
Projected Profit and Loss Statement
Projected Cash Flow Statement
Historical Financial Information
Startup Business Financial Information
Financial Ratios
Appendix
Using Your Business Plan
Monitoring Your Progress
Selecting Performance Measures
Creating a System to Track Performance
How Frequently Should You Look?
When Things Go According to Plan
When Things Go Better Than Planned
When Things Go Wrong
Assessing the Deviation
Determining the Response
Keeping Your Plan Current
Planning Interval
Timing for Planning Activities
Refining Your Plan Between Revisions
Business Plan Case Studies
Case Study: Manufacturer's Business Plan
Case Study: Service Provider's Business Plan
Case Study: Retailer's Business Plan
Getting Financing for Your Business
Examine a wide variety of ways to get the money you need to start a business.
Your Business's Financing Profile
Maturity of the Business
Startup Small Businesses
Acquired Businesses
Growing or Mature Businesses
Aging Businesses
Appeal: Nothing Sells Like Success
Estimating the Money You Need
Estimating the Cost of a Startup
Planning to Succeed
Personal Financing
Insider Financing
Bootstrapping: Internal Sources of Funds
Quick Pick Chart for Financing Sources
Financing Basics: Debt vs. Equity
Equity Financing
Forms of Business Organization
Financing Sole Proprietorships
Financing General Partnerships
Financing Limited Partnerships
Financing Corporations
Financing LLCs and LLPs
Which Form Is Best for You?
Business Combinations
Venture Capital
Small Business Investment Corporations
Private Investors/Business Angels
What Do Angels Look Like?
Angel Networks
Initial Public Offerings
Alternatives to Going Public
Financing Through Franchising
For the Franchisee
For the Franchisor
Employee Stock Ownership Plans
Debt Financing
Selecting a Bank or Other Lender
Banks for Small Business Loans
Large Commercial Banks
Community Banks
Directory of Small Business Lenders
Credit Unions
Consumer Finance Companies
Commercial Finance Companies
Common Types of Bank Loans
Working Capital Lines of Credit
Credit Cards
Short-Term Commercial Loans
Longer-Term Commercial Loans
Equipment Leasing
Letters of Credit
The Real Cost of Borrowing Money
Direct Financial Costs
Indirect Costs and Loan Conditions
Personal Guarantees
What Banks Look For
Credit History
Collateral
Cash Flow from Operations
Cash Flow Suggestions
Character
Bank Loan Documentation
How Banks Judge Your Application
Asset-Based Financing
Accounts Receivable Financing
Inventory Financing
Factoring
Leasing
Trade Credit
Insurance Companies
Government Financing Programs
Recent Changes in SBA Programs
SBA Financing for Small Businesses
Looking Ahead for the SBA
SBA Loan Guarantees
What Is an SBA Loan Guarantee?
Eligibility for SBA Loan Guarantees
How Small Is a Small Business?
Ineligible Businesses
RIP SBA 'LowDoc' Loan Guarantee Program
SBA Regular 7(a) Loan Guarantees
Special 7(a) Programs
CAPlines: Short-Term Financing
Asset-Based Lines of Credit
CAPlines: Seasonal Lines of Credit
CAPlines: Contract Lines of Credit
CAPlines: Builders' Lines of Credit
SBA Microloans
Section 504 Loan Program (CDCs)
Use of 504 Funds
Eligibility for a 504 Loan
Obligations Under a 504 Loan
SBA Financing for Exporting
Export Working Capital Programs
International Loan Program
State and Local Public Funding
Marketing Your Product
Establish your unique selling proposition and make pricing, packaging and advertising decisions.
Overview: The Marketing Challenge
What's Your Unique Business Idea?
Your Unique Selling Proposition
Do Customers Value Your Uniqueness?
Who Is Your Target Buyer?
Niche Marketing
How to Segment Your Market
Identifying Your Competitors
Undercutting Competitors' Prices
What's Your Positioning Message?
How to Strengthen Product Positioning
Case Study: Fargo Gas
What's Your Distribution Strategy?
Analyzing the Market Environment
Your Competitors
Who Are Your Competitors?
Competitors' Strengths and Weaknesses
Cost of Direct Competition
What Will Your Competitors Do Next?
Competitive Spending Trends
Buyer Identification and Behavior
End Users
Channel Buyers
The Marketing Environment
Future Market Growth
Market Research
Secondary Market Research
External Secondary Market Research
Internal Secondary Market Research
Primary Market Research
Laboratory Studies
Field Studies
Controlled Store Testing
City/Regional Test Markets
Qualitative Research