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PREFACE

1.BUSINESS STRUCTURES
2.GOOD ACCOUNTING
3.ESTABLISHED BUSINESSES
4.YOUR MANAGEMENT
5.BEST INSURANCE
6.INCREASED SALES VOLUME
7.PROTECT AGAINST THEFTS

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BUSINESS IDEAS SITEMEAP

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Small Business Idea Sitemap

PREFACE - This is an idea book. If you want to start a small business of your own, you are faced with the many complexities of today's business world. Let us assume that you have some capital, say $10,000 to $25,000, that there is a growing market for the sale of "what-nots" and you've decided that this is the time for you to make your move—to start in the business of the manufacture and sale of what-nots. Now what do you do?

1.BUSINESS STRUCTURES - In organizing your business enterprise, you should consider all of the legal forms for operation that are available to you.

The ones most generally used are the sole proprietorship, partnership, corporation and, of late, the form of business which allows a corporation to elect to have its stockholders taxed directly. Variations of these forms include limited partnerships, joint stock companies, joint ventures, syndicates and trusts. This book, however, will discuss only the three basic forms of organization and the new stockholder's election provision

2.GOOD ACCOUNTING - Accounting is essential to your success in starting a small business. Bad use of accounting controls is one reason so many small businesses fail. Some recent studies of small business bankrupts show that almost one-third kept no records. Less than one-fourth kept adequate records.

3.ESTABLISHED BUSINESSES - One of the customary methods of going into business is to buy a going concern. Advantages of this method include the following:

The business may be bought at a bargain. Someone who is desirous of getting out, for reasons such as health or advancing age, may be anxious to sell and willing to take a low price.

4.YOUR MANAGEMENT - Organizing an efficient management can turn a one-man business into a large scale business. Without an organization, there are distinct and rigid limitations on how far one man can go in his business. It always takes employees to grow. The difference between a local store grossing $1,000 a week and a super-market grossing $8,000 a week is often attributed to their organization.

5.BEST INSURANCE - Insurance is a personal and economic necessity in any business. Without its protection you may lose part or all of your investment in your business. Or you may become liable for lawsuits that may be brought against you and your business.

How can you be sure you are carrying all necessary coverages, under properly written policies, at the lowest possible cost for sound insurance?

6.INCREASED SALES VOLUME - Selling on credit helps to build up a clientele of regular customers. Cash customers are anybody's customers. Charge customers are customers of record. Other important points are:

Charge customers usually are not as concerned with the prices of goods as are those who pay cash. They tend to buy a higher quality of merchandise, and they frequently buy more of it.

7.PROTECT AGAINST THEFTS - The prudence we have recommended to you in getting started in your own business is doubly emphasized when you deal with employees, suppliers and customers. Most embezzlements in business are by trusted employees. And in the vast number of these, the first step was taken because it was an easy way to "borrow" some money in order to gamble, live high or to pay the doctor and hospital costs for an ill wife.

THE END