Be Your Own Boss

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Setting up your own business and ensuring its survival can appear a daunting prospect. There is an obvious need for proper preparation and planning if you are to deal with the risks and hidden obstacles, and this book helps you do just that. A concise, practical guide from experienced entrepreneur David McMullan it provides sound, easy-to-read advice on every aspect of starting up a business and ensuring its success. It explains what planning is necessary beforehand and what the problems are likely to be - so they can be avoided and the future of the business guaranteed. All the key topics are covered in the author’s approachable style, such as: Choosing a business; Preparing a business plan; Raising the finance; Selecting premises; Managing the business; Marketing, selling and promotion. This fully updated new edition to Be Your Own Boss provides essential reading for any budding entrepreneur who wishes to avoid the pitfalls of self-employment and achieve success.

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s David Mc Mullan is a freelance writer who writes for local and national papers and provides material for corporate literature. He also has extensive experience of business start-ups, having started up five small businesses himself. He remains director of one of them, a savings and loans cooperative. Table of Contents Personal assessment Changing for the better The right frame of mind to succeed Are you right for self-employment? Self assessment Working from home: the family implications Action Training and hard work ‘Let’s not overthink this, let’s just do it’ Which business? Buying an existing business Franchises Direct selling Researching your business idea The product or service — is it right? Pricing Place Promotion Professional advice Government help for new businesses Help for younger entrepreneurs Trade associations Other sources of information Questions to ask advisers The business plan Purpose of the business plan Format of the business plan An example of a business plan Overheads budget Sales turnover Profit and loss account Cash flow forecast Raising finance Yourself Your business partners Your spouse or life partner Parents, relatives or friends Loans Bank loans The bank in perspective Finance companies Building societies Venture capital Government and European Union schemes and grants The Partnership The Limited company Cooperatives Value added tax Useful sources of information Premises Working from home Location An answering service or a business centre? Retail premises Leasing premises Buying premises Local authorities, Councils and development organisations Useful reference points to help with your search Marketing, selling and promotion Prior to start date Advertising Using local papers The importance of selling The mailshot Telephone selling Preparing for sales visits The end of the selling week Development ofexisting accounts Your company image Customer care The internet Managing the business Managing your time Managing your cash flow Employing people Alternatives to employing people Insurance Summary Sources of further information.