Small Business Street Smarts is a guide to starting and running a successful small business. First published in 1988 and since updated several times, it has sold over 25,000 copies in print and has been listed as one of the top 10 best selling business books. The following is an outline of the book by content and chapters:
1. The Small Business Failure Myth
The generally accepted statistics on small business failure are quite terrifying however, the good news is – they are simply not true!
2. Are You Suited?
Some people were meant to run their own businesses and some are better off working for someone else. Which type are you?
3. Which Business is For You?
Having made the decision to go into business for yourself, the next question you will need to ask is – what sort of business?
4. Buying an Established Business
Should you start up from scratch or buy a business that is already established? And, how do you evaluate the goodwill?
5. Which Business Structure Should You Use?
Should you trade as a company, sole trader, partnership or trust?
There are plenty of problems involved in business partnerships. Some of the dangers and suggested ways to avoid them.
7. The Franchise Alternative
Franchising is becoming a very popular way of entering into a business, especially for first time starters. However, not all franchise systems are a guarantee of success.
8. Which Franchise Should You Buy?
If you do decide to take the franchise route, your next decision will be, which franchise? There are over 700 to choose from. Some tips on how to try to tell the good from the bad.
9. The Three Wise Men* (or women)
To survive and thrive in business, you need three strong allies – a good bank manager, a good accountant and a good solicitor but how do you go about selecting them?
10. Alternative Sources of Finance and Business Angels
If you have a great idea for a business or a business with good potential for growth but you lack capital – a Business Angel or Venture Capitalist - may be your answer.
11. Home Base or Premises?
There are over 780,000 businesses in Australia operating from a home base. This is a good choice for many people however, it's not suitable for everybody and there are some drawbacks.
12. Leasing Premises
If you decide to lease business premises, you will need to enter into a lease. A guide to help you through the leasing minefield.
13. Local Government
Many people start out in business and forget about the local council, often at their peril. What to watch out for.
14. Hiring the Right Staff
Good staff are the greatest asset of any business but how do you go about finding them and then, retaining them when you do?
15. The Seven Steps
There are a number of steps you need to take before starting out in business. A simple checklist.
16. Time Management
You can't really manage time but you can prioritise the things you have to do in the time available. Some tips to help you do this.
17. Bad and Doubtful Debts
A sale is not a sale until you've been paid! How to avoid bad debts and how to deal with slow payers. Credit checking, collection agencies and some do-it-yourself debt collecting ideas.
18. Matters Legal
Unfortunately, it's almost impossible to be in business without coming into contact with the law in some form or another. How to minimise the expense and sort through the legalese.
A checklist of the main types of insurance cover you need to have.
20. Taxation and Your Business
A look at the most common forms of taxation affecting small businesses and how they might impact on your business.
21. Record Keeping
A brief guide to what records you need to keep by law and how to implement a simple record keeping system.
22. Computers – How to Use Them in Your Business
Computers in business can be both a blessing and a curse. A few brief pointers on selecting the right computers and software.
23. The Sales Challenge
In business, nothing happens until somebody sells something. What makes a good salesperson and how can you become a better one for your business?
24. Advertising and Promotion
Maximising results from your advertising and promotional dollars and how to get more bang for your buck.
25. The Name Game
What you call your business can have a dramatic effect on your success. Tips for finding a suitable business and domain name.
26. Customer Service
Learn how to treat your customers like kings and queens and keep them coming back for more.
A highly effective and inexpensive way of promoting your business.
28. Pricing for Profit
What price should you sell your goods or services at and how do you overcome price cutting competition?
29. Projecting Your Cash Flow
How to prepare a cash flow projection for your business.
30. The Business Plan
Whether you need it to raise finance or not, your business plan is still the key to your ongoing business success.
31. Your Marketing Plan
Marketing is one of the least understood and most critical elements of running any successful business.
32. Goal Setting
To be successful in business, you need to set goals. A simple and straightforward approach to getting to where you want to go.