Start Your Own Business 2010 How to Plan, Fund and Run a Successful Business.pdf

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This edition first published in Great Britain 2010 by
Crimson Publishing, a division of Crimson Business Ltd
Westminster House
Kew Road
Richmond
Surrey
TW9 2ND
First edition published by Crimson Publishing 2009
Second edition published by Crimson Publishing 2010
© Crimson Publishing, 2009
All rights reserved. No part of this publication may be reproduced, transmit-
ted in any form or by any means, or stored in a retrieval system without
either the prior written permission of the publisher, or in the case of repro-
graphic reproduction a licence issued in accordance with the terms and
licences issued by the CLA Ltd.
A catalogue record for this book is available from the British Library.
ISBN 978 1 85458 489 2
Printed and bound by MPG Books Ltd, Bodmin
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CONTENTS
INTRODUCTION
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
IDEAS FOR STARTUPS
DECISION TIME
PRE-STARTUP RESEARCH
WRITING A BUSINESS PLAN
AND FINANCE ISSUES
SETTING UP
FINDING A NAME AND
CREATING A BRAND
PRODUCT PREPARATION
TELLING THE WORLD
OPEN FOR BUSINESS
NEXT STEPS: REVIEW
AND IMPROVE
1
25
59
83
103
139
167
183
223
247
279
iii
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CONTENTS
INTRODUCTION
Still a good time to start up…
Entrepreneurs are people like you
Can you do it too?
1
2
4
24
1.0 IDEAS FOR STARTUPS
The right startup for you
Shoestring startups
Other popular options
Protecting your business ideas
25
26
28
40
50
2.0 DECISION TIME
What it takes to become an entrepreneur
The reality of starting up
The average UK entrepreneur
The entrepreneurial personality
How and when to quit your job
Women entrepreneurs
So you’ve made your decision…
59
60
61
62
65
70
73
79
3.0 PRE-STARTUP RESEARCH
Market research
Understanding your competition
83
84
97
4.0 WRITING A BUSINESS PLAN
AND FINANCE ISSUES
Why write a business plan?
Preparing data for your business plan
Your break-even point
Key elements of your business plan
Forecasting your sales
103
104
106
108
110
114
IV
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CONTENTS
SWOT analysis
The people
The mission statement
The executive summary
Getting people to read your plan
Raising finance
116
120
121
123
124
129
5.0 SETTING UP
Limited company
Sole trader
Business partnerships
Banking on success
139
140
147
152
157
6.0 FINDING A NAME AND CREATING
A BRAND
What’s in a name?
What you can and can’t call your business
Checking for originality
A great name is good marketing
Your domain name
167
168
170
171
172
175
7.0 PRODUCT PREPARATION
Searching for the right premises
Before you secure the space
Equipping your office
Building the right team
Once you are an employer
Finding and dealing with suppliers
Insuring your business
Pricing
183
184
190
192
194
202
206
216
219
8.0 TELLING THE WORLD
What is marketing?
Building a marketing plan
223
224
225
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