Contents
The Truth About Starting a Business
Part I: The Truth About What It Takes to Be a Business Owner
Truth 1. Why people start businesses
Truth 2. The right business for you
Truth 3. Questions to ask before you quit your job
Truth 4. Key characteristics of successful business owners
Truth 5. You may not need “prior business experience”
Part II: The Truth About Generating and Testing Business Ideas
Truth 6. The most common sources of new business ideas
Truth 7. Want several alternatives? Techniques for generating new business ideas
Truth 8. A make-it or break-it issue: Selecting an idea that can be sold into a niche market
Truth 9. Screening and testing business ideas
Truth 10. Writing a business plan: Still as important as ever
Part III: The Truth About Entry Strategies
Truth 11. Starting from scratch: Developing your own product or service
Truth 12. Franchising: Buying into someone else’s formula for success
Truth 13. Believe it or not: There are legitimate opportunities in direct sales
Truth 15. Internet businesses: The sky does seem to be the limit
Part IV: The Truth About Getting Up and Running
Truth 16. Choosing a location for your business
Truth 17. Something you’ll say a million times: Your business’s name
Truth 18. The paper chase: Obtaining business licenses and permits
Truth 19. Choosing a form of business ownership
Truth 20. Creating a Web site: An absolute necessity
Part V: The Truth About Raising Money
Truth 21. How to think about money as it relates to starting a business
Truth 22. Calculating your initial start-up costs
Truth 23. Personal funds, loans from friends and family, and bootstrapping
Truth 26. Grants: It takes the right fit
Truth 27. Persistence pays off: Finding alternative sources of start-up funds
Part VI: The Truth About Building a New Business Team
Truth 28. How to approach the task of building a “new business” team
Truth 29. Starting a business as a team rather than an individual
Truth 30. Recruiting and hiring employees
Part VII: The Truth About Intellectual Property
Truth 33. Intellectual property: What is it, and how is it protected?
Truth 34. To patent or not to patent?
Truth 35. Trademarks: An essential form of protection
Truth 36. Copyrights laws: A surprising breadth of protection
Truth 37. Trade secrets: Guard them carefully
Part VIII: The Truth About Marketing
Truth 38. How to approach marketing in a new business
Truth 39. Segmenting the market and selecting a target market
Truth 40. Establishing a brand
Truth 41. Selling benefits rather than features
Truth 42. Pricing: The most dicey element in the marketing mix
Truth 43. It’s okay to advertise, but think through your choices carefully
Truth 44. Public relations: More important than ever
Truth 45. Distribution and sales: More choices than ever
Part IX: The Truth About Financial Management
Truth 46. Managing a business’s finances
Truth 47. Financial objectives of a business
Truth 48. The nitty-gritty: Forecasts, budgets, and financial statements
Part X: The Truth About Growing a Business
Truth 49. Preparing for growth
Truth 50. Stages of growth: More opportunities, more challenges
Truth 51. Strategies for growth
Part XI: The Truth About Starting a Business and Maintaining a Healthy Personal Life
Truth 52. Work life balance: Practical tips
Truth 53. Starting a business as a means of achieving a healthy personal life