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Full Description
* The first edition of this book won the prestigious Book of the Year Award presented by the Professional Association of Small Business Accountants Many entrepreneurs fail, not because they have bad ideas, but because they don't have the knowledge it takes to convert their ideas into success. In Six Steps to Small Business Success, five seasoned CPAs provide practical advice, step-by-step guidance, and proven ideas to help you dream big, think realistically, and plan and manage carefully, ultimately achieving more than you ever imagined. Take these six simple steps to convert your dreams into reality: 1. PRE-BUSINESS PLANNING. Learn from others who have succeeded how a little front end planning can ensure your success. 2. START-UP: FINANCES, BUDGETS, AND NUMBERS. Discover the key fundamentals that must be put in place for your business to grow. 3. HUMAN RESOURCES(PEOPLE). Learn best practices in hiring, training, managing, and terminating employees. 4. OPERATIONS: WORK FLOW, CUSTOMERS, AND SALES. Learn how to make good decisions about products and customers. 5. BUILDING A SALABLE BUSINESS AND THE SALE. Learn how to plan for your eventual sale. 6.after work - personal adjustments, wealth management, leaving a legacy.
Contents
Acknowledgements Foreword Introduction Before You Read This Book Step One - Pre-Business Planning 1. The Dream: Running Your Own Business with Integrity 2. Pick the Right Business for You 3. Self-Evaluation for Small-Business Success 4. Advisers for Your Business 5. Buying a Franchise or Starting from the Ground Up 6. The Business Plan: Creating Your Map to Success 7. Strategic Marketing Planning 8. Partnerships and Agreements for Multiple Owners 9. Business Formats and Tax Structures 10. Business, Family, and Personal Relationships: Making Them Work Step Two - Start-Up: Finances, Budgets, and Numbers 11. Business Loans: A General Overview 12. Another Use for Your Business Plan 13. How to Read Financial Statements 14. Key Operating Statistics (Vitals) 15. Comparing Your Key Operating Statistics to Industry Standards 16. Tax Planning 17. Real Estate and Your Business 18. Insurance: A General Overview Step Three - Human Resources: The People Factor 19. Assembling Your Team 20. Compensation and Benefits 21. Training Employees 22. Managing Employees 23. Terminating Employees 24. Managing Daily Operations 25. Managing Customers: Credit, Collections, and Service 26. Managing Marketing and Sales: Some Low-Cost Tactics 27. Managing Growth and Expansion Step Five - Building a Salable Business and the Sale 28. Is It Time to Sell? 29. Valuing Your Business to Sell 30. Tax Planning for the Sale 31. Who Are the Buyers? 32. Negotiating the Sale 33. Sale Documents and Escrows for Contingencies 34. Transitioning Customers and Employees through the Sale Step Six - Transitioning to Life After Business 35. Wealth Management and Investments 36. Lifestyle Changes 37. Leaving a Legacy of Values Glossary Further Reading Recommended Websites Endnotes Index
