The Everything Home-Based Business Book
by Jeffery, YvonneEdition: 2nd
Format: Paperback
Pub. Date: 2006-05-31
Publisher(s): Adams Media Corp
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Summary
If you've been thinking about starting a home-based business, you're not alone. More than half of all new small businesses are home-based. But starting a business and making a profit are two different things-as the high failure rate attests. You can beat the odds with this completely revised and updated classic-a must-have for every business owner.
Table of Contents
| Top Ten Reasons to Run Your Own Home-Based Business | p. xii |
| Introduction | p. xiii |
| Is a Home-Based Business Right for You? | p. 1 |
| Joining the Club | p. 2 |
| Home-Based Business Advantages | p. 2 |
| Home-Based Business Disadvantages | p. 4 |
| Qualities of Successful Home-Based Businesspeople | p. 6 |
| Good Reasons to Start a Home-Based Business | p. 8 |
| Bad Reasons to Start a Home-Based Business | p. 9 |
| Are You Right for a Home-Based Business? | p. 13 |
| It's All in Your Attitude | p. 14 |
| Hearth and Home | p. 14 |
| Community Rules and Regulations | p. 17 |
| Family Matters | p. 19 |
| Assessing Your Financial Fitness | p. 23 |
| Do You Need a Safety Net? | p. 25 |
| Choosing the Business | p. 27 |
| Inventory Your Skills and Knowledge | p. 28 |
| Good Choices for Home-Based Businesses | p. 29 |
| Challenging Choices for Home-Based Businesses | p. 33 |
| Part-Time Versus Full-Time | p. 34 |
| Going into Partnership | p. 35 |
| Buying a Business | p. 36 |
| Researching the Market | p. 39 |
| What You Need to Know | p. 40 |
| Sources of Information | p. 41 |
| Finding Your Customers | p. 45 |
| Scoping Out Your Competitors | p. 46 |
| Differentiating Your Product | p. 47 |
| Pricing Strategies | p. 47 |
| Writing Your Business Plan | p. 51 |
| Elements of the Plan | p. 52 |
| Which Elements Do You Need? | p. 53 |
| Description of the Business | p. 54 |
| Marketing Plan | p. 54 |
| Financial Plan | p. 59 |
| Management Plan | p. 66 |
| Buying a Business | p. 69 |
| Advantages to Buying a Business | p. 70 |
| Disadvantages to Buying a Business | p. 71 |
| What You Can Buy | p. 72 |
| How to Find Businesses for Sale | p. 73 |
| How to Research a Potential Business | p. 74 |
| Red Flags to Watch For | p. 76 |
| Financing the Purchase | p. 78 |
| Finding Start-Up Funding | p. 79 |
| Assessing How Much You Need | p. 80 |
| Minimizing Funding Needs | p. 80 |
| Personal Savings | p. 82 |
| Credit Cards | p. 83 |
| Lines of Credit | p. 84 |
| Friends and Family | p. 85 |
| Financial Institutions | p. 85 |
| Boosting Your Chances | p. 87 |
| Start-up Steps | p. 91 |
| Choosing Your Timing | p. 92 |
| Choosing a Business Structure | p. 92 |
| Choosing a Business Name | p. 95 |
| Registering Your Business Name | p. 96 |
| Obtaining an Employer Identification Number | p. 97 |
| Dealing with Sales Tax Collection | p. 98 |
| Obtaining Business Licenses | p. 98 |
| Opening Business Checking Accounts | p. 99 |
| Do You Need a Grand Opening? | p. 101 |
| Putting Insurance in Place | p. 103 |
| Finding Insurance | p. 104 |
| Property Insurance | p. 106 |
| Auto Insurance | p. 107 |
| Liability Insurance | p. 108 |
| Personal Insurance | p. 109 |
| Worker's Compensation | p. 113 |
| Preparing for the Worst | p. 113 |
| Legal Issues | p. 115 |
| When You Need a Lawyer | p. 116 |
| How to Find a Lawyer | p. 119 |
| Setting Up an Initial Interview | p. 120 |
| Working With Your Lawyer | p. 120 |
| Reducing Legal Costs | p. 121 |
| Small Claims Court | p. 122 |
| Setting Up Your Home Office | p. 127 |
| Keeping Home and Home Offices Separate | p. 128 |
| Assessing Your Needs | p. 128 |
| Solutions for Small Spaces | p. 131 |
| Making it Functional | p. 132 |
| Outfitting Your Office | p. 133 |
| Office Services | p. 136 |
| Ergonomics | p. 137 |
| Home Office Technology | p. 139 |
| Office Telephones | p. 140 |
| Staying in Touch | p. 143 |
| Computer Systems | p. 146 |
| Software | p. 149 |
| Faxes and Photocopiers | p. 150 |
| The Internet | p. 150 |
| Technical Help: DIY or Speed Dial? | p. 151 |
| Daily Operations | p. 153 |
| Professionalism | p. 154 |
| Communication | p. 154 |
| Meeting Customer Needs | p. 160 |
| Following Up | p. 162 |
| Organizing Yourself | p. 163 |
| Effective Time Management | p. 164 |
| Managing Employees and Contractors | p. 167 |
| Assessing When You Need Help | p. 168 |
| Employing Spouses and Children | p. 168 |
| Contractor Versus Employee? | p. 169 |
| The Question of Pay | p. 170 |
| Writing a Job Description | p. 171 |
| The Hiring Process | p. 173 |
| Working with Employees and Contractors | p. 176 |
| Handling Problem People | p. 176 |
| Selling Your Product | p. 179 |
| Making a Sales Plan | p. 180 |
| Managing Customers | p. 182 |
| Learning to Sell | p. 183 |
| Relationship Marketing | p. 184 |
| Needs-Based Selling | p. 185 |
| Selling Face-to-Face | p. 186 |
| Selling by Phone | p. 187 |
| Selling by the Word | p. 188 |
| Network Your Way to Profit | p. 191 |
| Evaluating Your Current Network | p. 192 |
| Building Your Network | p. 193 |
| Effective Networking Tips | p. 194 |
| How Not to Network | p. 198 |
| The Volunteer Effect | p. 198 |
| The Advisory Board | p. 200 |
| Advertising | p. 203 |
| How Advertising Works | p. 204 |
| Creating Your Image | p. 205 |
| Targeting Your Audience | p. 208 |
| Setting Your Budget | p. 208 |
| Your Own Web Site | p. 209 |
| Print Advertising | p. 213 |
| Radio Advertising | p. 216 |
| Television Advertising | p. 216 |
| Trade and Consumer Shows | p. 216 |
| Community Advertising | p. 217 |
| Gaining Positive Publicity | p. 219 |
| Publicity Versus Advertising | p. 220 |
| How Publicity Works | p. 220 |
| What's Your Story? | p. 221 |
| Developing a Publicity Plan | p. 222 |
| Creating a Press Kit | p. 224 |
| Writing Effective Press Materials | p. 226 |
| Developing Your Media List | p. 227 |
| Working with the Media | p. 228 |
| Bookkeeping | p. 231 |
| Why Bookkeeping Matters | p. 232 |
| Do-It-Yourself Options | p. 232 |
| When to Hire a Bookkeeper | p. 233 |
| Preliminary Decisions | p. 234 |
| Basic Record Keeping | p. 236 |
| Record Retention | p. 239 |
| Turning Records into Financial Statements | p. 239 |
| Tracking Your Progress | p. 240 |
| Paying Yourself | p. 241 |
| Taxes | p. 243 |
| Intention to Make a Profit | p. 244 |
| Working with the Government | p. 245 |
| Business Income | p. 247 |
| Business Expenses | p. 247 |
| Sole Proprietors and Partnerships | p. 250 |
| Taxes and Corporations | p. 252 |
| Taxes and Employees | p. 252 |
| Taxes and Independent Contractors | p. 253 |
| Collecting and Reporting Sales Tax | p. 254 |
| Dealing with an Audit | p. 254 |
| The Personal Side | p. 257 |
| Setting Goals | p. 258 |
| Staying Motivated | p. 259 |
| Professional Development | p. 261 |
| Boosting Productivity | p. 262 |
| Beating Procrastination | p. 262 |
| Dealing with Bad Days | p. 264 |
| Stress Management Techniques | p. 266 |
| Moving On | p. 267 |
| Making the Decision to Close or Sell the Business | p. 268 |
| Choosing Your Timing | p. 269 |
| Protecting Yourself | p. 270 |
| Selling the Business | p. 271 |
| Preparing the Business for Sale or Closure | p. 273 |
| Final Sales | p. 274 |
| Disposing of Assets | p. 275 |
| Closing the Financial Books | p. 276 |
| Problem Solving | p. 279 |
| Recognizing Problems Early | p. 280 |
| Cash Flow Issues | p. 280 |
| Funding Issues | p. 284 |
| Competition Issues | p. 285 |
| Customer Service Issues | p. 286 |
| Management Issues | p. 286 |
| A Final Word | p. 288 |
| Glossary of Basic Business Terms 8 | p. 289 |
| Sample Business Plan: Gift Baskets Galore | p. 293 |
| Home-Based Business Resources | p. 297 |
| Supporting Associations and Organizations | p. 298 |
| Index | p. 299 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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