Small Business Toolbox

A library of business management info


Small Business Plan

  • Four Benefits of Starting a Small Business in a Slow Economy
    07/23/2008
    The signs of a less-than-robust economy are all around us: Four-dollar gallons of gas, rising food prices and the slowdown of the housing sector are but a few of the challenges facing the American public. So where does this leave aspiring entrepreneurs? You may be tempted to put your business plan on hold until the economy improves.
  • Beginner's Business Mistakes
    03/12/2008
    Going into business for yourself may feel like a gamble, but unlike an honest card game, there are several things you can do to stack the deck in your favor. For example: learning from the mistakes of others can give you a leg up on the competition. Here are some of the most common errors new entrepreneurs make, and a few tips on how you can avoid them.
  • Developing Your Business Plan
    10/17/2007
    As we approach the end of the year and the fresh start of a new one, there's no better time for small-business owners to revisit and refresh their business plans. But wait—you may not even have a plan. According to Charlene Andersen, owner of Kamigo Marketing in Nottingham, N.H., most small business-owners know they should have one, but even so, many start their companies without one.
  • Getting and Keeping Good Company Credit
    10/04/2007
    Every business owner knows the value of credit. Borrowing allows you to build your company in good times without disrupting cash flow. During slower periods, credit can help maintain your firm's smooth operation.
  • Growth Decisions: Determining Whether to Start a Second Business or Expand Your Existing One
    07/23/2007
    Many entrepreneurs have become successful by putting all their efforts into growing a single business. On the other hand, many have found success through diversification. As with most choices in the business world, both options have pros and cons. Here's a look at both sides.
  • Writing Your First Business Plan
    04/25/2007
    Whether you're formalizing your dog-walking service or getting ready to sell a product you're finally ready to bring to the market, writing a business plan will be one of the first steps on your journey to entrepreneurial success. While a business plan is essential for securing loans or gaining the interest of a backer, they're also a useful personal tool you can use to concretely shape your business goals.
  • Turning Your Hobby Into a Business
    01/24/2007
    Do you have a product or service that you enjoy offering to grateful friends and family members? Perhaps you've been thinking lately that going professional would be a great way to earn some extra money or even start your career as a small-business owner. While many successful businesses have been built on the foundation of a hobby, so have many failed ones. Here are a few precautions--and tips for proceeding if you decide this is the right move for you.
  • The Next Small Thing: Why Bigger Isn't Always Better
    07/25/2006
    "I don't have anything against big business," Jason Fried says. "It's just not for me."
  • Simply the Best: How to Find and Keep the Best Customers
    07/25/2006
    When Scott Kremp decided to close six branches of Kremp Florist, a business his father started 50 years ago in the Philadelphia suburbs, and devote more resources to his two main stores, he knew he risked losing customers. Instead, he gained more than ever before. "Another flower shop may offer a different selection or a lower price, but if we focus on what we are doing well, customers will realize that and come back to us," Kremp says.
  • MyAdvice: An Outside Job
    07/25/2006
    Instead of hiring lots of senior-level managers, one business owner relied on a board of directors during the start-up phase.
  • Back to the Basics
    07/25/2006
    NFIB's Young Entrepreneur Foundation, in partnership with Visa USA, announced a new online curriculum to teach budding entrepreneurs the basics of how to start a business.
  • MyWay: Happy Days Are Here Again
    07/25/2006
    Recently, researchers at the University of Michigan Medical School discovered that the older we get, the happier we get. They also found that everyone assumed the opposite was true: Even the older people in the test believed younger people were happier. The researchers aren't quite sure why older people are happier, but some of the theories revolve around the notion that older people have wisdom from experience that helps them (or, in my case, "us") balance the ups and downs of life.
  • Starting a Summer Business
    06/28/2006
    Instead of going to work for someone else next summer, learn how to strike out on your own. If any of the following criteria applies to you, you might want to consider putting the books away for the summer and becoming a business owner.
  • Turning Your Art, Hobby Into a Small Business
    02/27/2006
    Many artists dream of finding galleries to display and sell their work. While this is a possibility, it's not an easy one to achieve, and it takes years to build the reputation necessary to command the kind of fees that pay the bills.
  • It's Been a Month: Keeping Resolutions for Your Small Business
    02/01/2006
    Like many small-business owners, my New Year's resolution is to make more money this year, but how do I actually keep that promise? The secret to keeping your business resolutions is to put a plan in place early on and then take consistent action to follow the plan.
  • Secure the Future of Your Small Business With an Estate Plan
    10/06/2005
    If you are a small-business owner, and you die, what happens? If you haven’t left a similar plan of action, called an estate plan, the lives of your loved ones will be thrown into turmoil.
  • Crafting Your Mission Statement
    04/21/2005
    We have all seen them – mission statements hanging cockeyed on some wall somewhere, explaining the "purpose" of the corporation. Far too often these signs seem meaningless, apparently created at some corporate retreat ages ago by some disinterested committee.
  • Defining an Exceptional Business
    01/24/2005
    Every large, Fortune 500 company once was a small business. So what did they do differently that allowed them to grow and profit so well? Maybe more appropriately, the question should be, what does it really take to create an exceptional business that prospers?
  • Your Venture: Novel Idea or Tried-and-True Business?
    01/17/2005
    You've always wanted to go into business for yourself. You've thought about it while marking time working for someone else, and you've even come up with what you believe is a novel new service you could offer. You’ve also considered some known lines of business -- mostly franchise operations -- that appeal to you.
  • Develop a Dynamic Business Plan
    08/02/2004
    In order to start a business or expand one, it is critical to have a business plan. Your business plan is the backbone of your company. This may seem like a waste of time to you -- you have the whole plan in your head! But you must write it out, do the financial projections and really take a hard look at the business model before you start spending your money.
  • Prepare for Stress
    07/19/2004
    Starting and building your first company can come with increasing amounts of stress. The stress level will be directly related to many aspects of your life -- personal relationships, your marriage, your spouse's comfort level with you leaving the corporate world, starting a business or pulling money out of your savings that was intended to be a nest egg for home remodeling.
  • Starting from Scratch? The Pros and Cons
    06/14/2004
    If you have decided to become your own boss, there are several things to consider. But let’s start with the basics – what kind of business do you want? Whether you start a business from scratch, purchase an existing business or buy a franchise, each of these options has its pros and cons.
  • Following Trends in Your Business
    04/19/2004
    Cultural trends can reveal important information to small-business owners about the viablitiy of a product or service. Consider developing a business idea around any of these six trends.
  • Finding Your Strengths
    04/12/2004
    Do you know what direction your business is headed? In order to get moving on the right path, you need to find your unique business strengths.
  • Characteristics of a Successful Business
    04/05/2004
    Businesses in any industry know that in order to succeed it's important to develop certain characteristics, such as like excellent customer service, a memorable slogan and affordable prices.
  • Pros and Cons of Starting a Business
    04/02/2004
    There definitely are pros and cons to starting a business, and it's important that you consider both sides of the equation before starting on this journey.
  • Weighing the Pros and Cons of Starting a Business
    03/22/2004
    Should you buy a business or start your own? If you are thinking about starting your own business, do your homework.
  • Setting Five-Year Goals
    01/26/2004
    Five-year goals address broad, fundamental aspects of a company's growth, which is how they differ from quarterly or one-year goals.
  • Avoiding Mistakes on Business Plans and Loan Applications
    01/15/2004
    Establishing a good relationship with banks and other lenders is vital for the growth of most small businesses.
  • Infrequently Asked Questions About Starting a Business
    01/09/2004
    When considering starting a new business, ask yourself these questions.
  • Be Cautious of Cookie-Cutter Management
    12/22/2003
    When you roll out a batch of cookie dough and apply a cookie cutter, you get the shape you desired, clearly and neatly defined.
  • Avoid These Costly Small-Business Mistakes
    12/05/2003
    Being aware of specific problems that many companies have can shine a spotlight on potential difficulties, before they get out of hand.
  • Secure the Future of Your Business
    09/23/2003
    When it comes to your business, hoping for the best won't ensure its future.
  • Getting Past Setbacks
    07/11/2003
    Knowing how to remain steadfast during difficult times and recover from adversity is vital for your success as a small business owner.
  • Growing Pains
    06/03/2003
    As small businesses grow, stress levels of small business owners increase.
  • Why We Need Small Businesses
    05/29/2003
    If it seems like you know more small business owners these days than you used to, you're probably not imagining things.
  • Growing Your Business Too Quickly
    01/13/2003
    You may feel it's time to expand, but don't risk your current success.
  • How to Get the Job Done Yesterday; Part I
    04/11/2002
    Some things really should have been completed and put in the mail yesterday, which, of course, is often difficult to pull off.
  • Planning Ahead, Part I
    04/03/2002
    If the thought of being away from your business for more than a week, or even a day or two, seems an impossible dream, you need a plan.
  • How to Get the Job Done Yesterday; Part II
    04/03/2002
    When possible, base your work on something that has already been satisfactorily completed.
  • Preliminaries for Starting a Successful Business
    04/01/2002
    Often the difference between success and failure has nothing to do with the talents of the entrepreneur or the viability of the business. The difference is often a matter of ignoring the basic requirements for success in business.
  • How to Start a Business
    04/01/2002
    One of the toughest parts of launching a small business is getting started.
  • Personal Business
    04/01/2002
    Too often, astute business people neglect their personal business affairs until a crisis occurs
  • From Employee to Self-employed
    04/01/2002
    Despite the mumbled complaints and periodic announcements that you are going to quit your job and start your own business, the actual decision is a scary step for most people.
  • "If I Had Only ..."
    04/01/2002
    Entrepreneurial-type individuals come up with ideas for new businesses regularly. But, many entrepreneurs never actually get around to starting a new business.
  • Pros and Cons of Buying an Existing Business, Part II
    04/01/2002
    Today's Workshop, written by contributor Jeff Moses, discusses personal aspects to consider before buying, and leads you to several highly informative websites that can help guide the first steps in your purchasing process.
  • No One Ever Said Moonlighting Was Easy, Part II
    04/01/2002
    In today's Workshop, Jeffrey Moses continues last week's discussion on how to keep the moonlighting momentum allowing you to become successful in your new line of work.
  • Can You Afford Not to Move to the Beach?
    04/01/2002
    In today's Workshop, Jeffrey Moses relates the story of a freelance copywriter who was recently contacted out by a recruiter and tells what this individual learned.
  • There's Only One Real Reason to Start a New Business
    04/01/2002
    There are many benefits to starting your own business. However, today's Workshop warns not to confuse these with the one reason to take the plunge.
  • The Four Potential Stages of Business Growth, Part I
    04/01/2002
    Today's and next week's Workshops talk about the four potential stages of business growth and show the most common sources of failure at each.
  • A Checklist for Starting a Small Business, Part I
    04/01/2002
    Before starting your small business you should prepare a comprehensive checklist that includes everything that you may need to accomplish to get your business up and running.
  • Checklist for Starting a Small Business, Part II
    04/01/2002
    To conclude last week's Workshop, here are the final items on the list of everything that you may need to accomplish to get your business up and running.
  • The Four Potential Stages of Business Growth, Part II
    04/01/2002
    Learn the most common steps of business growth and how you can position yourself against failure. Part 2 of 2.
  • Is This a Good Time To Start a New Business? The Answer May Surprise You.
    04/01/2002
    It could be a great time to start a new business. Today's Workshop explains why.
  • Three Reasons New Businesses Face Initial Problems
    04/01/2002
    If you're experiencing ups and downs in your new company, don't worry. Many extremely successful small businesses had trouble in the beginning.
  • Consider the Stress Factor When Starting a New Business
    04/01/2002
    While some avenues may seem fascinating and highly profitable, the stress they could bring might take a toll on your personal and family life, or even your health.
  • Avoiding Impulse Spending in the Early Days of Business
    04/01/2002
    Starting a new business can be stressful, and it sometimes forces rational people to abandon their normal spending habits.
  • Avoiding Schemes and Scams When Starting a New Business
    03/28/2002
    When looking around and deciding what type of part-time work to take on, a person will come in contact with a wide variety of opportunities. Some may be only marginally honest when describing income potential.
  • A Business Plan Puts You on Good Footing
    03/28/2002
    No matter what the size, every new business should have a formal written business plan early in the planning stage.
  • Full-time to Self-employed
    03/28/2002
    When you want to start your own company, at some point the transition from full-time employment to self-employment will have to be navigated.
  • Pros and Cons of Buying an Existing Business, Part I
    03/28/2002
    If you've been thinking of starting a business, or have been considering a franchise, you might also consider purchasing an existing business.
  • How to Be Part-time While You're Still Full-time
    03/28/2002
    Imagine this nightmare scene: you're toddling along at work one day, and your boss comes up, just as you are on the phone with your biggest client from your part-time business. Your boss figures this out and hangs up the phone.
  • It's Never Too Late to Grasp Your Dreams
    03/28/2002
    In the American classic, "Walden," Henry David Thoreau wrote: "If you have built castles in the air, your work need not be lost; that is where they should be.
  • Creating a Mission Statement, Part I
    03/14/2002
    Making Sure That You and Your Employees Are on the Same Page
  • Planning Ahead, Part II
    03/14/2002
    Previously, we addressed the need to develop sound contingency and succession plans that help to ensure a smooth transition of power in the case of your absence.
  • Creating a Mission Statement, Part II
    03/12/2002
    Making Sure That You and Your Employees Are on the Same Page
  • No One Ever Said Moonlighting Was Easy, Part I
    04/20/2001
    In today's and next week's Workshops, Jeffrey Moses provides a few tips for keeping the moonlighting momentum allowing you to become successful in your new line of work.