ON YOUR MARK . . .

      Why did you pick up this book? Perhaps you know you want to be an entrepreneur and take charge of your own life. You’ve already got a great idea for a business you’re sure will be a hit. Or perhaps you think, somewhere in the back of your mind, that maybe you might like to start your own business but you’re not sure what venture to start, what entrepreneurship is really like, and whether it’s for you.

      Whichever of these categories you fall into, you’ve come to the right place. In Part 1, “Think,” we’ll show you what it means to be an entrepreneur. Use our personal goals and objectives worksheet to decide if entrepreneurship is right for you. Don’t have a business idea, or not sure if your idea will fly? You’ll learn the secrets to spotting trends before they happen and for coming up with dozens of surefire business ideas. We’ll also discuss various ways of going into business, including part- and full-time entrepreneurship. Finally, we’ll show you the different options for startup, such as starting from scratch, purchasing an existing business, or buying into a franchise or business opportunity system.

      Planning is key to every thriving business. In Part 2, “Plan,” you’ll learn just what you need to do to lay the groundwork for success. Find out how to pinpoint your target market, plus dozens of ways to do market research—from hiring experts to money-saving do-it-yourself tips. Since the name you choose can make or break your business, we share plenty of techniques for coming up with the perfect moniker—one that will attract customers to your company in droves. And don’t forget the nuts-and-bolts necessities like choosing a legal structure—corporation, partnership, sole proprietorship and more. You’ll discover all the information you need to guide you through these often confusing steps to startup.

      A business plan is your road map to success, guiding the growth of your business at every stage along the way. We’ll show you how to craft a business plan that puts you on the fast track. Finally, find out why you need professional advisors to help you through your startup, and learn how to select an accountant and an attorney who can help you make money—without costing you a bundle.

      Speaking of money, every entrepreneur knows that adequate startup capital is essential to success. But just where do you find that crucial cash? In Part 3, “Fund,” we give you the inside scoop on getting the money you need. Discover dozens of sources of capital. We show you secrets to financing your business yourself, how to tap into the most common source of startup financing (family and friends), plus places you may never have thought of to look for money. We’ll also introduce you to the idea of turning to the crowd for funding.

      Do you stand a chance of getting venture capital or attracting private investors? You’ll find out in this section. And if you’re looking for a loan, look no further for the secrets to finding the right bank. We explain what bankers look for when evaluating a loan application—and how to make sure yours makes the grade. Seeking money from Uncle Sam? You’ll learn all the details about dozens of loan programs from the government, including special assistance for women and minority entrepreneurs. Whatever your needs, you’re sure to find a financing source that’s right for you.

      As they say, “there’s no time like the present,” so grab a cup of coffee, get comfortable, and let’s start creating your business!

      PART

      1

      THINK

      CHAPTER 1 Introduction

      CHAPTER 2 Taking the Plunge

       Get Ready to Be an Entrepreneur

      CHAPTER 3 Good Idea!

       How To Get an Idea for Your Business

      CHAPTER 4 Good Timing

       Should You Launch Your Business Part or Full Time?

      CHAPTER 5 Build It or Buy It?

       Starting a Business vs. Buying One

      CHAPTER

      1

      Introduction

      With the purchase of this book, you’ve taken your first step on the road to entrepreneurship. It’s not a step to be taken lightly, which is why buying this book may be the smartest thing you’ll ever do for your business.

      Start Your Own Business can have a major impact on your life. We meet people all the time who tell us how this book or Entrepreneur magazine changed their lives—and few are sorry they took the leap into business ownership. Whether or not they have succeeded, almost no one regrets the journey.

      Start Your Own Business is designed as a road map to help you plan a course for your own journey to business ownership. We’re here to show you the best routes to take, help you avoid the potholes and road closures, and navigate the curves and detours.

      Some will tell you that the journey you’re about to take is a hazardous one—but not with us at your side! Start Your Own Business prepares you every step of the way. We’re here to instruct and encourage you, to show you new ways to do things and remind you of the tried and true. You wouldn’t go on an adventure without the proper gear. Think of Start Your Own Business as part of your entrepreneurship gear kit. Refer to it every step of the way, starting with how to get an idea for a business to finally opening the doors to your new venture. Along the way, we provide lots of forms, worksheets, and checklists you can actually use in your business to make sure you’re on the right track.

      Since business ideas, trends, and strategies