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?

First and foremost, you want ideas. You need ideas and information on the form of business under which you will operate, where and how to raise more capital if and when you need it, where to apply for governmental assistance, how to establish a business credit line, the tax consequences of your proposed operations, setting up an accounting system and full coverage and protection through your proper use of insurance.

Running a business of your own will bring you a sense of independence. You are top man. You can't be fired. You will have an opportunity for higher income because you will be able to collect a salary plus a profit on the return on your investment. These are the advantages and pleasures of operating your own business. Now let us take a look at the other side of the picture.

You must accept sole responsibility for all final decisions. You must always have money to pay your personnel and your creditors. In addition, you must stand up alone against adverse situations caused by many circumstances beyond your control, such as strong competition and economic depressions.

Even though you are your own boss you must conform to many legal requirements dictated by governmental units. Insur­ance and health authorities will see that you meet certain standards. Wage and hour laws and municipal, state and federal tax requirements will constantly impose upon you a duty of conformance.

Finally, the ultimate key to your success will be good hard work.

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