Make Your First Million E-Book

Martin Webb

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 286

Veröffentlichungsjahr: 2010

Beschreibung

Never has advice on making money been so essential! Many of the world's most successful businesses started during an economic downturn, so don't let the credit crunch stop you. Make Your First Million shows you how to go it alone and make the money come rolling in! This straight-talking reality-check is one of the UK's bestselling entrepreneurship titles of the last 18 months and in this new edition Martin shows you just how important it still is to follow your dreams - even in tough times. This edition includes a brand new introduction on why entrepreneurship is the right choice, even in the current financial climate. Martin Webb started his first business in the recession of the early 90s and expounds the myths surrounding stating in a recession and outlines the possible benefits and advantages - as well as the cautions. Includes: * A look at the personal attributes you'll need and how to develop them * A real understanding of the impact of starting a business on your lifestyle and relationships * An outline of the skills and knowledge needed to make your enterprise thrive * Information on finance and how to minimise risk * A unique Entrepreneur's Toolkit packed with practical steps to success "The book contains a lot of advice for those with ambitious growth plans in mind." (Growing Business, June 2007) "As a highly readable primer in the art of making a success of a start-up it takes some beating." (Better Business, June 2007)

Leseprobe

Table of Contents

Title Page

Copyright Page

Introduction

SETTING UP IN A TOUGH MARKET

WHAT KIND OF BUSINESS?

FINDING THE MONEY

BEING REALISTIC

PROLOGUE: THE FALSE START

Chapter 1 - SO YOU WANT TO BE AN ENTREPRENEUR?

SO, WHAT IS AN ENTREPRENEUR?

THE REAL BENEFITS OF PRACTICAL ENTREPRENEURSHIP

THE MAIN ATTRIBUTES OF AN ENTREPRENEUR

HAVE YOU GOT WHAT IT TAKES?

Chapter 2 - STARTING AFRESH

DECIDE WHAT YOU’RE GOING TO DO AND WEIGH UP THE RISKS

WHAT IS A GREAT IDEA?

IDENTIFYING YOUR PRODUCT AND YOUR MARKET AND FINDING THE START-UP MONEY TO ...

Chapter 3 - PUTTING THE IDEA INTO PRACTICE

DO YOU ACTUALLY NEED PREMISES?

FINDING THE RIGHT PREMISES

KNOWING YOUR COSTS AND YOUR BREAK-EVEN POINT

DECIDING WHETHER OR NOT YOUR IDEA HAS LEGS

Chapter 4 - THE OPENING DAYS

PLANNING THE MARKETING PROCESS

THEY ONLY DO IT ONCE - GET A FIRST IMPRESSION, THAT IS

FIRST IMPRESSIONS OF A WEBSITE

AND SO TO THE PEOPLE

THE NEXT OUTLET

ARGH! NOT THE BUSINESS PLAN

Chapter 5 - BUILDING ON SUCCESS

BUILDING FAST

GETTING THE RIGHT PEOPLE TO DO A GREAT JOB

IMPROVING THEIR SKILLS

DELEGATE, DON’T ABDICATE

CHANGING GEAR

Chapter 6 - BRANCHING OUT AND PREPARING TO EXIT

EXPANDING THE PRODUCT RANGE

SETTING A LONG-TERM STRATEGY - OUR FOUR-PRONGED ATTACK

Chapter 7 - CASHING IN

THE ENTREPRENEUR’S TOOLKIT

INDEX

This edition first published 2009

First published in paperback in 2007 by Capstone Publishing Ltd. (A Wiley Company)

© 2009 Martin Webb

Registered office

Capstone Publishing Ltd. (A Wiley Company), The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, United Kingdom

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Library of Congress Cataloguing-in-Publication Data

Webb, Martin, 1964-

Make your first million : ditch the 9-5 and start the business of your dreams / by Martin Webb. p. cm.

Includes index.

eISBN : 978-1-907-31232-8

1. New business enterprises--Planning. 2. Entrepreneurship. 3. Profit. I. Title. HD62.5.W.1′1--dc22

2009008888

9781907312328

A catalogue record for this book is available from the British Library.

Set in 10/16pt Chianti BT-Roman by SNP Best-set Typesetter Ltd., Hong Kong

INTRODUCTION: WHEN IS A GOOD TIME TO START A BUSINESS?

When is the right time to set up a new business, in good economic times or in a recession? That’s a question that I’m being asked more and more at the moment. For at least a couple of years we are all going to be working in a hard marketplace where it is difficult to maintain sales, let alone grow them, and almost impossible to protect your profit margins as competitor companies discount to maintain their businesses and get rid of stock.

My answer to the question is that the state of the economy should not be a major consideration in deciding whether or not to take the plunge, by leaving the comfort of an employer for whom you have worked for some time and going out on your own. This answer surprises some people, but is actually quite logical. As I will show you in detail in this book, you can sum up the key commercial considerations involved in setting up a new business as follows:

• Do you have an idea that will appeal to a market that you can define and then reach?

• Do you feel passionately about that idea and the fact that you can do a better job than the people already serving that market?

• Are you prepared to work extraordinarily hard to get the business started and keep it thriving?

• Have you got or can you get the skills and experience for the actual job you are going to have to do?

• Can you get the funds necessary to start the business up?

In the case of the first four points, whether the country is booming or busting makes no difference to your answer. The last point seems more problematic, with a freeze on credit and the banks licking their wounds, sulking in their tents and refusing to lend money even to people with good ideas. But you can get round that. As we will see in the chapter on getting start-up money, there are other ways of raising finance than impressing a sceptical, and frightened, bank manager of the merits of your idea.