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Entrepreneurship Lessons for Success (Collection)

Book Description

3 indispensable insider’s guides to entrepreneurship: powerful skills, insights, and confidence-builders you won’t find anywhere else!

Three books bring together today’s most indispensable lessons for entrepreneurs: specific guidance you can use right now to beat the odds and launch a high-profit, high-growth business that lasts! The Truth About Starting a Business reveals 53 bite-size, easy-to-use techniques for choosing the right business, location, and entry strategy… planning, funding, hiring, and executing a successful launch… implementing effective financial management and marketing… doing all that, and still maintaining a healthy personal life! So, You Want to Start a Business?: 8 Steps to Take Before Making the Leap gives you all the knowledge, tools, and hands-on advice you need to avoid 8 “killer mistakes” that cause most business failures. Unlike most books for entrepreneurs, this one focuses on the most crucial operational issues associated with consistent profitability – from product/service design to pricing, finding and keeping great employees to managing growth. Nothing theoretical here: this is fast-paced, 100% practical advice you can use right now. Finally, What’s Stopping You?: Shatter the 9 Most Common Myths Keeping You from Starting Your Own Business helps you get past the myths that keep potential entrepreneurs from making the leap, and gain all the practical skills and confidence you need to succeed. This book’s packed with case studies of “ordinary” people building great businesses – and practical techniques you can use, too – every step of the way!

From world-renowned leaders and experts, includingBruce Barringer, Edward D. Hess, Charles D. Goetz, and R. Duane Ireland

Table of Contents

  1. Title Page
  2. The Truth About Starting a Business
    1. Copyright Page
    2. Praise for The Truth About Starting a Business
    3. Contents
    4. Part I: The Truth About What It Takes to Be a Business Owner
      1. Truth 1. Why people start businesses
        1. Aspiration gaps
        2. Passion for a business idea
      2. Truth 2. The right business for you
      3. Truth 3. Questions to ask before you quit your job
      4. Truth 4. Key characteristics of successful business owners
        1. Passion for their business
        2. Tolerance for ambiguity
        3. Self-efficacy
      5. Truth 5. You may not need “prior business experience”
    5. Part II: The Truth About Generating and Testing Business Ideas
      1. Truth 6. The most common sources of new business ideas
        1. Changing environmental trends
        2. Unsolved problems
        3. Gaps in the marketplace
      2. Truth 7. Want several alternatives? Techniques for generating new business ideas
        1. Brainstorming
        2. Library and Internet research
      3. Truth 8. A make-it or break-it issue: Selecting an idea that can be sold into a niche market
      4. Truth 9. Screening and testing business ideas
      5. Truth 10. Writing a business plan: Still as important as ever
    6. Part III: The Truth About Entry Strategies
      1. Truth 11. Starting from scratch: Developing your own product or service
        1. Advantages of starting a business from scratch
        2. Disadvantages of starting a business from scratch
        3. Making the call—Is starting a business from scratch the right strategy for you?
      2. Truth 12. Franchising: Buying into someone else’s formula for success
        1. Advantages of buying a franchise
        2. Disadvantages of buying a franchise
        3. Caution
      3. Truth 13. Believe it or not: There are legitimate opportunities in direct sales
      4. Truth 14. Buying a business
      5. Truth 15. Internet businesses: The sky does seem to be the limit
        1. E-commerce Web sites
        2. Advertising-supported special interest Web sites
    7. Part IV: The Truth About Getting Up and Running
      1. Truth 16. Choosing a location for your business
        1. If location is important, what type of location will work best for you?
        2. How much can you afford?
        3. Is the physical structure you’re considering adequate?
      2. Truth 17. Something you’ll say a million times: Your business’s name
        1. Consumer-driven companies
        2. Product- or service-driven companies
        3. Industry-driven companies
        4. Personality- or image-driven companies
        5. Other considerations
      3. Truth 18. The paper chase: Obtaining business licenses and permits
        1. Obtaining a business license
        2. Permits
        3. Sources of assistance
      4. Truth 19. Choosing a form of business ownership
      5. Truth 20. Creating a Web site: An absolute necessity
        1. Determining the objectives of your Web site
        2. Building Your Web Site
        3. Monitoring your Web site to assess and improve its effectiveness
    8. Part V: The Truth About Raising Money
      1. Truth 21. How to think about money as it relates to starting a business
        1. Skimpy finances can be a blessing rather than a curse
        2. Techniques that enable business owners to minimize start-up costs
      2. Truth 22. Calculating your initial start-up costs
        1. How to calculate your start-up costs
        2. Finding information on start-up costs
        3. Determining the financing that you’ll need
      3. Truth 23. Personal funds, loans from friends and family, and bootstrapping
        1. Loans from friends and family
        2. Bootstrapping
      4. Truth 24. Debt financing
      5. Truth 25. Equity funding
        1. Business angels
        2. Venture capitalists
      6. Truth 26. Grants: It takes the right fit
      7. Truth 27. Persistence pays off: Finding alternative sources of start-up funds
        1. Business plan competitions and other contests
        2. State and community small business loan and assistance programs
        3. Patriot Express Pilot Loan Initiative
        4. Loan and grant programs for women and minority business owners
        5. Customer and supplier financing
        6. Tapping into personal funds
    9. Part VI: The Truth About Building a New Business Team
      1. Truth 28. How to approach the task of building a “new business” team
        1. Being open to advice
        2. Having a clear sense of how the business will evolve
      2. Truth 29. Starting a business as a team rather than an individual
        1. Advantages to starting as a team rather than an individual
        2. Disadvantages to starting as a team rather than an individual
        3. Founders’ agreement
      3. Truth 30. Recruiting and hiring employees
        1. Hiring your first employee
        2. Hiring tips and techniques
      4. Truth 31. Board of directors
        1. Provide guidance
        2. Lend legitimacy
      5. Truth 32. Board of advisors
    10. Part VII: The Truth About Intellectual Property
      1. Truth 33. Intellectual property: What is it, and how is it protected?
      2. Truth 34. To patent or not to patent?
        1. Steps to take before applying for a patent
        2. What is a patent, and what’s eligible for patent protection?
        3. Provisional patent applications
      3. Truth 35. Trademarks: An essential form of protection
        1. What is a trademark?
        2. How a trademark is obtained
        3. What can be trademarked?
        4. Rules of thumb for selecting appropriate trademarks
      4. Truth 36. Copyrights laws: A surprising breadth of protection
        1. What is protected by a copyright?
        2. How to obtain a copyright
        3. Copyright infringement
      5. Truth 37. Trade secrets: Guard them carefully
        1. What qualifies for trade secret protection?
        2. Trade secret disputes
    11. Part VIII: The Truth About Marketing
      1. Truth 38. How to approach marketing in a new business
        1. Make your marketing efforts consistent with your mission
        2. Know your customers
        3. Learn about the full array of marketing techniques that are available
      2. Truth 39. Segmenting the market and selecting a target market
        1. Segmenting the market
        2. Selecting a target market
      3. Truth 40. Establishing a brand
      4. Truth 41. Selling benefits rather than features
      5. Truth 42. Pricing: The most dicey element in the marketing mix
        1. Cost-based pricing
        2. Value-based pricing
      6. Truth 43. It’s okay to advertise, but think through your choices carefully
        1. Print and media advertising
        2. Internet advertising
      7. Truth 44. Public relations: More important than ever
      8. Truth 45. Distribution and sales: More choices than ever
        1. Distribution and sales alternatives
        2. Sales strategy and related issues
    12. Part IX: The Truth About Financial Management
      1. Truth 46. Managing a business’s finances
        1. Particularly important issues for first-time business owners
      2. Truth 47. Financial objectives of a business
        1. Profitability
        2. Liquidity
        3. Overall financial stability
      3. Truth 48. The nitty-gritty: Forecasts, budgets, and financial statements
        1. Forecasts
        2. Budgets
        3. Financial statements
    13. Part X: The Truth About Growing a Business
      1. Truth 49. Preparing for growth
        1. Appreciating the nature of business growth
        2. Planning for growth
      2. Truth 50. Stages of growth: More opportunities, more challenges
        1. Introduction
        2. Early growth
        3. Continuous growth stage
      3. Truth 51. Strategies for growth
        1. Internal growth strategies
        2. External growth strategies
    14. Part XI: The Truth About Starting a Business and Maintaining a Healthy Personal Life
      1. Truth 52. Work life balance: Practical tips
        1. Establish a routine
        2. Get help
        3. Set up systems and procedures
      2. Truth 53. Starting a business as a means of achieving a healthy personal life
        1. Flexibility
        2. Achieving a personal goal or aspiration
        3. The ability to pursue a passion
    15. References
    16. Dedication Page
    17. About the Author
  3. So, You Want to Start a Business?: 8 Steps to Take Before Making the Leap
    1. Copyright Page
    2. Praise for So, You Want to Start a Business?
    3. Dedication Page
    4. Contents
    5. Acknowledgments
    6. About the Authors
    7. Introduction
      1. Who Should Buy This Book?
      2. Why Is This Book Important?
      3. What Topics Are Covered?
      4. Why Are We Qualified to Write This Book?
      5. How to Use This Book
    8. Chapter One. Can You Be a Successful Entrepreneur?
      1. What Do Successful Entrepreneurs Do?
      2. Who Are Successful Entrepreneurs?
      3. Two Common Paths to Entrepreneurial Success
      4. Chapter One: Lessons Learned
    9. Chapter Two. Basic Rules of Business Success
      1. The 8 Common Start–Up Mistakes
      2. Basic Rules of Business Success
      3. Chapter Two: Lessons Learned
    10. Chapter Three. What Is a Good Business Opportunity?
      1. Pencil It
      2. Example 1: The Best Sandwich Shop
      3. Example 2: Children’s Clothing Shop
      4. Two Different Types of Businesses
      5. Estimating Your Costs
      6. Chapter Three: Lessons Learned
    11. Chapter Four. How Do You Choose the Right Customers?
      1. The Right Customers
      2. The Competition
      3. Chapter Four: Lessons Learned
    12. Chapter Five. How Do You Design Your Product or Service?
      1. Give Customers Only What They Truly Need
      2. Features or Benefits
      3. What Is Value?
      4. Example: Enhancing Your Product/Service Value
      5. Your "Reason for Being"
      6. Low Innovation
      7. It’s Now Time to Build Your Product/Service
      8. Can You Build or Produce It?
      9. The Prototype—The Test
      10. Chapter Five: Lessons Learned
    13. Chapter Six. What Is the Right Price for Your Product or Service?
      1. Competitive Pricing
      2. Break-even Formula
      3. Additional Pricing Factors
      4. Chapter Six: Lessons Learned
    14. Chapter Seven. How Can You Overcome Customer Inertia?
      1. Obstacles to a Sale
      2. The Risks of Buying from You
      3. Making Sales Takes Practice
      4. Chapter Seven: Lessons Learned
    15. Chapter Eight. How to Manage Your Business
      1. Start-Up Overload
      2. Your Value Chain
      3. Your Supply Chain
      4. Your Manufacturing (Assembling) Chain
      5. Why Do You Flow Chart Your Business?
      6. Management by Objectives
      7. Management by Exceptions
      8. The Power of Simplicity
      9. Measurements and Rewards
      10. Stay on the Front Lines
      11. Iteration
      12. Make Work Fun
      13. Chapter Eight: Lessons Learned
    16. Chapter Nine. How Do You Find and Keep Good Employees?
      1. This People Stuff Is Hard
      2. What Do Employees Want?
      3. Why Is High Employee Turnover Bad?
      4. Hire for Fit
      5. Hiring Tools
      6. Buy-In
      7. The Rules of the Game
      8. Best Practices of Managing Employees
      9. Mental Rehearsal
      10. Mental Replay
      11. Chapter Nine: Lessons Learned
    17. Chapter Ten. How Do You Manage Growth?
      1. Growth Can Be Good or Bad
      2. The Two Absolutes
      3. Process
      4. Financing Growth
      5. Financial Controls
      6. Managing the Unexpected
      7. People
      8. Small Business Services
      9. Check-Off
      10. Legal
      11. Legal Structure
      12. Small Business Networks
      13. Upgrading People
      14. Customer Diversification
      15. Growth Changes Your Job
      16. Chapter Ten: Lessons Learned
    18. Conclusion
      1. Business Rules
      2. Lessons Learned
    19. Bibliography and Resources[1]
      1. Books
      2. Articles
      3. Information Portals
      4. Author’s Commentaries
    20. Index
    21. Financial Times Press
  4. What’s Stopping You?: Shatter the 9 Most Common Myths Keeping You from Starting Your Own Business
    1. Copyright Page
    2. Praise for What’s Stopping You?
    3. Dedication Page
    4. Contents
    5. About the Authors
    6. Preface
      1. Who Is This Book Written For?
      2. What Will You Learn by Reading This Book?
      3. How Is This Book Organized?
    7. Part I: Getting Started—It May Not Be as Hard as You Think
      1. Chapter 1. Myth No. 1: It Takes an Extraordinary Person to Start a Business Truth No. 1: You Can Do It!
        1. Introduction
        2. Factors That Prompt and Motivate a Person to Start His or Her Own Business
        3. Summary
        4. Endnotes
      2. Chapter 2. Myth No. 2: Starting a Business Involves Lots of Risk Truth No. 2: It May Not Be as Risky as You Think
        1. Introduction
        2. Why It’s Difficult for People to Quit Their Jobs and Start Their Own Businesses
        3. Make an Objective Decision About Starting a Business by Setting Aside Anxieties About Risk
        4. Determining What You Want Out of Life
        5. Having a Good Sense of What’s the "Worst Thing That Can Happen" if Your Business Fails
        6. Researching the Business Opportunity
        7. Summary
        8. Endnotes
      3. Chapter 3. Myth No. 3: It Takes a Lot of Money to Start a Business Truth No. 3: It Might Not Cost as Much as You Think
        1. Insights Into How to Think About Money as It Relates to Starting a Business
        2. Skimpy Finances Can Be a Blessing Rather Than a Curse
        3. Raising or Borrowing Money Is Trading One Boss for Another
        4. Excess Funds Can Enable a start-up to Operate Unprofitably for Too Long
        5. Techniques That Enable Business Owners to Minimize the Costs Associated with Starting a Business
        6. Choices That Small Business Owners Have for Raising Start-Up Funds if Needed
        7. Summary
        8. Endnotes
      4. Chapter 4. Myth No. 4: It Takes a Great Deal of Business Experience to Start a Successful Business Truth No. 4: Successful Businesses Are Started by People with All Levels of Business Experience
        1. Introduction
        2. Insights Into the Role That Prior Business Experience Plays in the Business Start-Up Process
        3. Opportunities That Minimize the Need for Substantial Business Experience
        4. Techniques That Help People Overcome the Lack of Business Experience
        5. Summary
        6. Endnotes
      5. Chapter 5. Myth No. 5: The Best Business Ideas Are Already Taken Truth No. 5: There Are an Infinite Number of Possibilities for Good Business Ideas
        1. Introduction
        2. Three Most Common Sources of New Business Ideas
        3. Techniques for Generating Ideas
        4. Summary
        5. Endnotes
    8. Part II: Running and Growing a Business—Don’t Underestimate Your Chances
      1. Chapter 6. Myth No. 6: No One Can Compete Against Wal-Mart and the Other Big-Box Retailers Truth No. 6: You Can Compete Against the Big-Box Retailers if You Have the Right Plan
        1. Introduction
        2. How Big-Box Retailers Compete and What Their Vulnerabilities Are
        3. Approaches for Competing Successfully Against Big-Box Retailers
        4. Specific Tactics That Local Businesses Use to Support Their Independent Status
        5. Summary
        6. Endnotes
      2. Chapter 7. Myth No. 7: It’s Almost Impossible for a New Business to Get Noticed Truth No. 7: There Are Many Ways for New Businesses to Get Noticed and Recognized
        1. Introduction
        2. Rules-of-Thumb for How to Approach the Challenge of Getting Noticed
        3. Establishing a Brand
        4. The Most Common Tactics and Techniques for Getting a New Business Noticed
        5. Summary
        6. Endnotes
      3. Chapter 8. Myth No. 8: The Internet Isn’t What It Was All Hyped Up to Be Truth No. 8: There Are Many Legitimate and Enjoyable Ways to Make Money Online
        1. Introduction
        2. Factors That Facilitate Internet-Related Business Success
        3. The Most Common Ways That Individuals and Businesses Make Money Online
        4. Platforms That Help Freelancers Sell Their Products and Services Online
        5. Summary
        6. Endnotes
      4. Chapter 9. Myth No. 9: It’s Easy to Start a Business, But It’s Difficult and Stressful to Grow One Truth No. 9: Businesses Can Be Grown Profitably and Enjoyably
        1. Introduction
        2. Preparing for Growth
        3. Managing Growth
        4. Growth Strategies
        5. Summary
        6. Endnotes
    9. Index
  5. Make More, Worry Less: Secrets from 18 Extraordinary People Who Created a Bigger Income and a Better Life
    1. Copyright Page
    2. Praise for Make More, Worry Less
    3. Dedication Page
    4. Contents
    5. Acknowledgments
      1. Work
      2. Outside of Work
    6. About the Author
    7. Introduction
      1. Make More
      2. Worry Less
      3. HUNT
      4. Happy Medium
      5. Best of Both Worlds
      6. Partner with Your Employer
    8. Part I: Harness What You Have
      1. Compartmentalize
      2. Natural Edge
      3. Value Log
      4. Learning
      5. Compensation
      6. 1. The Compound Income Effect
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Simply
        4. Taking the Next Leap
      7. 2. Embrace Risk
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Adventurously
        4. Taking the Next Leap
      8. 3. Ambition Addiction
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Daringly
        4. Taking the Next Leap
      9. Make More, Worry Less Investing*
      10. 4. Sell from the Heart
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Enjoyably
        4. Taking the Next Leap
      11. 5. Rally for a Cause
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Optimistically
        4. Taking the Next Leap
    9. Part II: Underestimate Your Obstacles
      1. Attitude
      2. Raise the Bar
      3. Don't Underestimate Your Competition
      4. Push the Envelope
      5. Mistakes Are Inevitable
      6. 6. Be Distinct or Be Extinct
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Virtually
        4. Taking the Next Leap
      7. 7. See Around the Corner
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Persistently
        4. Taking the Next Leap
      8. 8. Chart Your Course
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Analytically
        4. Taking the Next Leap
      9. 9. Command Attention
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Helpfully
        4. Taking the Next Leap
    10. Part III: Notice Your Network
      1. Strong Alliances
      2. Be a Leader
      3. Currency of Goodwill
      4. Have Mentors
      5. Birds of a Feather
      6. 10. The Butterfly Effect
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Accountably
        4. Taking the Next Leap
      7. 11. Look the Part
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Confidently
        4. Taking the Next Leap
      8. 12. Walk a Mile in Their Shoes
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Empathetically
        4. Taking the Next Leap
      9. 13. One Step Ahead
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Creatively
        4. Taking the Next Leap
    11. Part IV: Take the Next Step
      1. Dream
      2. Pen to Paper
      3. Action
      4. Talk to People
      5. Measure Your Progress
      6. 14. Reminisce about Your Future
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Heroically
        4. Taking the Next Leap
      7. 15. Nudge the Top Line
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Passionately
        4. Taking the Next Step
      8. 16. Ask Without Asking
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Sanely
        4. Taking the Next Step
      9. 17. Find the Need
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Assertively
        4. Taking the Next Leap
      10. 18. Exercise Your Middle Brain
        1. Starting from Scratch
        2. Underestimating Obstacles
        3. Building Momentum—Flexibly
        4. Taking the Next Leap
    12. Conclusion
    13. Index
    14. Financial Times Press