- Market Directly to the Consumer
- Party Plan
- Direct Mail
- Telemarketing
- Multilevel Marketing
- Television Infomercials
- Pay-Per-Call
- Internet
- Market Through the Government
- Market Through Distribution Channels
- Market Through Foreign Trade
- Market Through Specialty Channels
- Market Through Email
- Retail Stores
- Sales Promotion
- Media Outlets
- Entrepreneur Profile
- Start-Up Costs
- Operating Costs
- 20 Financing Approaches
- Choosing a Bank
- 4 Cs of Credit
- Underwriting
- Loans
- Equity Financing
- Extending Credit
- Equipment Leasing
- Venture Capital
- Angel Investors
- Personal Guarantees
- Bookkeeping and Financial Statements
- Entrepreneur Profile
- Tax Basics
- Income Taxes
- When To Pay
- Minimizing Taxes
- Home Business
- Travel and Entertainment Expenses
- Automobile Expense and Mileage
- Retirement Plans
- Medical Expenses
- Sales and Use Taxes
- Property Taxes
- W-4 and I-9
- W-2, W-3 and Form 1096
- FICA, Social Security and Medicare
- Unemployment Taxes
- Form 1099
- Payroll
- Business Tax
- Excise Tax
- Tax Tips
- Audits
- Business Insurance Agents
- Workers’ Compensation
- Property Insurance
- General Liability
- General Medical
- COBRA
- Directors and Officers
- Employment Practices Liability
- Errors and Omissions
- Product Liability
- Operations
- Business Interruption
- Disability
- Life
- Claims
- IRS Section 125
- Home-Based Business
- Entrepreneur Profile
- Nondisclosure Agreement
- Sale of Goods Agreement
- Sale of Specialty Goods Agreement
- Terms and Conditions
- Promissory Note
- Guarantee
- Corporation Articles of Incorporation
- Corporation Bylaws
- Bank Resolution
- IRC Section 83 Election
- Independent Contractor Agreement
- Employment Agreement
- Sexual Harassment Policy
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Steven D. Strauss
Author of The Small Business Bible |
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ORDER NOW: The Small Business Bible |
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Stephanie Chandler
Author of The Business Startup Checklist & Planning Guide |
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Joe Kennedy
Author of The Small Business Owner's Manual |
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ORDER NOW: The Small Business Owner's Manual |
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Tom Severance
Author of Business Start-Up Guide |
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ORDER NOW: Business Start-Up Guide |
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Three different types of students attend entrepreneurship classes. Some are ready to start a business very shortly, and they know exactly what they want to do. Others want to start soon, but they have no firm business idea in mind. Others are dreamers who have no ideas and no time frame.
There is an advantage to knowing what business you want to start, assuming it matches the criteria discussed in the next section. However, there is also an advantage to having an open mind in deciding what type of business to start. If you are open to ideas, you can let the market decide for you, at least initially. It’s much easier to find a need and fill it than to insist on selling a certain product or service and hoping the market will buy it.
Even if you have a general idea of the type of business you plan to start, be flexible as to your market niche. Not only is this wise when starting the business, but it is necessary as you grow the business. The pace of change in most areas today is so rapid that a successful entrepreneur needs to be flexible and receptive to such changes.
It’s important to clearly distinguish the concepts of “finding an idea” and “evaluating an idea.” Finding possible ideas should be freewheeling, creative, and open-minded. Evaluating ideas requires a more structured and practical approach.
Excerpted from Business Start-Up Guide © 2002, Tycoon Publishing