The Accidental Startup: How to Realize Your True Potential by Becoming Your Own Boss

369 Pages·2009·5.5 MB·English

by  Ph.D.

The
Accidental
Star tup
Danielle Babb,
Ph.D., MBA
A member of Penguin Group (USA) Inc.

The
Accidental
Star tup

The
Accidental
Star tup
Danielle Babb,
Ph.D., MBA
A member of Penguin Group (USA) Inc.
This book is dedicated to all the men and women so bravely and proudly serving in our armed forces to protect
the freedoms we so cherish. You allow us to pursue our dreams by sacrificing for your nation. Thank you.
ALPHA BOOKS
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Copyright © 2009 by Danielle Babb
All rights reserved. No part of this book shall be reproduced, stored in a retrieval system, or transmitted by any
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publisher. No patent liability is assumed with respect to the use of the information contained herein. Although
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contained herein. For information, address Alpha Books, 800 East 96th Street, Indianapolis, IN 46240.
ISBN: 1-101-03061-5
Library of Congress Catalog Card Number: 2008939798
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Contents
1 Does Self Employment Make Sense for You?............1
2 Myth Busters! .................................... 21
3 Dreams to Dollars.................................39
4 Your Path to Entrepreneurship ...................... 69
5 Business Plans ...................................93
6 Raising Capital..................................115
7 The First Year....................................135
8 Money Basics. .................................. 155
9 Advertising and Marketing Your Business ............ 173
10 Grow, Baby, Grow!. .............................. 193
11 Service Demands ............................... 207
12 Watching Out for Scary Monsters. .................. 219
13 Success!. ...................................... 235
Appendixes
A Glossary ....................................... 247
B Fast Forms......................................255
C Resources ......................................331
D References ..................................... 335
Index. ......................................... 339

Letter to the Reader
Welcome to the world of entrepreneurship! My name is Dr. Dani Babb; I am an
author, professor, and analyst for the media in the world of business. I write and
teach for a living, and it is with great pleasure that I wrote this guide for the bud-
ding entrepreneur—designed for the underemployed, the unemployed, and the
“just sick and tired of the corporate world” workers in our nation and throughout
the world who want to do business in America!
With rising costs of going to work (including the time and money spent com-
muting), the increasingly overwhelming feeling of being tied to our day jobs
24/7, and electronic gadgets that routinely make us feel completely incapable of
leaving work behind, many of us have turned to running our own business as a
dream we always wanted to fulfill, but were never quite sure how. Having started
(and ended) many companies, and now running a successful one in multiple lines
of business, I understand firsthand how it feels to try and fail—try and fail—and
then try and succeed at owning and running your own business—the best feeling
in the world.
A professor by nature, I tend to write to help others—whether through articles
or books. This book is designed to help walk a new entrepreneur, step by step,
through all the steps needed to own and run your own business. From figuring
out what you want to do to quitting that part time job, from planning family
time to going through all the legal and financial obligations of owning your
own business, all the way through marketing it successfully and exceeding profit
expectations, this book is geared toward making you a success!
Throughout the last couple of years, we’ve seen the face of business change dras-
tically in this country. One thing that hasn’t changed is the amazingly resilient
entrepreneurial spirit. The thing deep in our gut that keeps us wanting a better
life; to be in business for ourselves; to create something and call it our own—to
be the masters of our own success.
Success is based on many definitions; I give lots of personal examples throughout
this book. My goal is for you to hit the mark of success based on what is impor-
tant to you, the reader—the new entrepreneur. With practical advice, surveys
from the trenches (responses from other entrepreneurs living our dream), lots
of research, and fantastic resources, you have in your hands a pathway—a guide
book—to creating and sustaining your own business. To all of you who want to
be your own boss; to all of you who are tired of making “the man” rich instead
of yourself; to all of you who are weary of the ups and downs of corporate down-
sizing, rightsizing, and all those other terms that create personal instability; to all
of you who are sick of commuting two hours and taking orders from people who
don’t understand the business—I say go for it! Educate yourself, prepare what you
need to so you feel comfortable moving onward, and let’s get going!
I’m always open to questions and comments, and many people communicate on
my blogs and forums to share ideas. I welcome you to my website and hope to
see you in both the virtual community and the traditional seminars—but most
importantly, I wish you the best of luck in your new business endeavors.
Sincerely,
Dani Babb, Ph.D., MBA
www.drdaniellebabb.com