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Start and Run Your Own Business 2nd Edition Alan Le
Marinel Digital Instant Download
Author(s): Alan Le Marinel
ISBN(s): 9781857039887, 1857039882
Edition: 2nd
File Details: PDF, 20.61 MB
Year: 2005
Language: english
START AND RUN YOUR
OWN BUSINESS
 If you want to know how ...
Watching the Bottom Line
Financial Management for Small Businesses

The Ultimate Business Plan

Essential planning skills to get you where you want to be

Setting Up and Running a Complementary Health Practice

The insider guide to making a living from running a
complementary health practice

100 Ways to Make Your Business a Success

A resource book for small businesses

How To Books
Spring Hill House
Spring Hill Road
Begbroke, Oxford
0X5 IRX
United Kingdom
E-mail: [email protected]
http://www.howtobooks.co.uk
START AND RUN YOUR
OWN BUSINESS

The complete guide to setting up and

managing a small business

Second edition

Alan Le Marinel

howtobooks
Published by How To Content,
A division of How to Books Ltd,
Spring Hill House, Spring Hill Road,
Begbroke, Oxford 0X5 1RX. United Kingdom.
Tel: (01865) 375794. Fax: (01865) 379162
email: [email protected]
http://www.howtobooks.co.uk

All rights reserved. No part of this work may be reproduced

or stored in an information retrieval system (other than for purposes of
review) without the express permission of the publisher in writing.

© Copyright 2005 Alan Le Marinel

First published in paperback 2001

Second edition 2005
Reprinted 2005
Reprinted 2006
First published in electronic form 2007

British Library Cataloguing in Publication Data.

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

ISBN: 978 1 84803 188 3

Edited by Francesca Mitchell

Cover design by Baseline Arts Ltd, Oxford
Produced for How To Books by Deer Park Productions, Tavistock
Typeset by Pantek Arts Ltd, Maidstone, Kent

NOTE: The material contained in this book is set out in good faith for general
guidance and no liability can be accepted for loss or expense incurred as a
result of relying in particular circumstances on statements made in this book.
Laws and regulations are complex and liable to change, and readers should
check the current position with the relevant authorities before making
personal arrangements.
Contents

Preface ix

1 - Thinking Through Your Idea 1

Gaining the support of your family 2
Do you have the skills required to run a business? 2
What sort of business do you want to start? 3
How will I start my business? 4
Investing in your own business 6

2 • Complying with Legislation 8

A word of warning to start this chapter 8
The different forms of business 10
Deciding on a business name 13
Protecting your business ideas 15
Keeping the Inland Revenue happy 17
Registering for value added tax 18
Trading laws that might affect your business 21

3 - Setting Objectives 23
Setting SMART objectives 23
Having a clear mission statement 25
Setting marketing objectives 28

4 - Defining Your Business Strategy 30

Strategic analysis 30
Analysing the environment using a PESTE analysis 31
Strategic choice 34
Strategic implementation 39
Strategic threats to consider 42

5 • Obtaining the Right Support 46

Business links 47
Enterprise agencies 48
The British Chambers of Commerce 49
The Federation of Small Businesses 50
Shell Livewire 52
The Forum of Private Business 53
Lawyers for Your Business 54
VI / START AND RUN YOUR OWN BUSINESS

6 - Researching the Market 55

Segmenting the potential market 56
The importance of competitive advantage 59
Using a SWOT analysis 61
Establishing your unique selling point 62
Defining your critical success factors 63

7 - Identifying Your Products 66

Using the Boston Consulting Group (BCG) Matrix 66
The product life cycle concept 68
Using the product life cycle for product development 70
Using the Ansoff matrix to consider products and markets 72
Targeting the right product into the right market 73
Understanding product management 75

8 • Setting the Right Price 76

How important is price to the consumer? 76
Selecting the right price for your products 78
Techniques for fixing a price 79
Using price as an effective marketing tool 80

9 • Employing New Staff 84

Recruitment and selection 84
Your responsibilities as an employer 87
The rights of your employee 89
Dealing with tax and National Insurance 90
Assessing the performance of your staff 92

10 • Being in the Right Place 96

Understanding the importance of location 97
Establishing the methods of distribution 100
Designing the right distribution system 101
Managing the supply chain efficiently 103

11 - Promoting Your Business 105

Understanding the importance of promotion 105
The marketing promotion mix 107
Evaluating your promotion options 111
Using promotion methods to achieve objectives 113
 CONTENTS / V I I

12 • Using Professional Help 115

Choosing and using an accountant 116
Using the services of a solicitor 119
Using a consultant 121

13 - Compiling Financial Forecasts 125

The cash flow forecast 126
The profit and loss forecast 129
The balance sheet 134

14 - Looking at Grants and Subsidies 137

Applying for grants 137
Knowing the difficulties 142
Looking for local help 145

15-Writing Your Business Plan 147

Why do I need a business plan? 147
Where do I start? 148
Making sure the content is understandable 151
Use fact not fiction 151
What to include 153
What not to include 154
The contents of a good business plan 155

16 - Raising Finance 162

Investing your own money 162
Short-term finance 164
Long-term finance 167
Gaining equity finance 174

17 • Keeping Your Accounts 177

Why you need to keep accounts 177
Balance sheet 181
The profit and loss account 182
Comparing actual performance with your forecasts 184
Computerising your accounts 185
The benefits of computerising your accounts 186

18 - Looking at Franchising Options 192

The advantages and disadvantages of a franchise 192
Different types of franchise 196
viii / START AND RUN YOUR OWN BUSINESS

What will the franchise offer? 197

The cost of the franchise 199

19 - Buying an Existing Business 202

Undertaking a personal inspection of the business 202
Valuing the business 203
Managing the purchase process 208
Financial considerations 209

20 - Maintaining Quality Standards 212

What exactly is quality? 212
Linking quality to your objectives 213
Linking quality to competitive advantage 214
Dealing with complaints 215
Introducing a quality management system 217

21 - Exporting for the First Time 221

Why should you consider exporting? 221
Identifying export opportunities 223
Starting to export 225
Managing the export process 227
Arranging insurance 230

22 • Dealing with Problems 232

Formulating contingency plans 232
Avoiding disaster 238

23 • Staying Ahead of the Competition 240

Establishing a management information system 241
Updating your business plan 243

24 • Using Technology in Your Business 246

Choosing a computer system 246
Using the Internet 250

Useful Contacts 253

Glossary 258

Index 279
Preface

Running your own business can be a very rewarding and fulfilling

experience. On the other hand it can be difficult, time-consuming,
costly, and both physically and mentally draining. You also need to
remember the very real statistic that only one in five of all new
businesses will survive the first five years of trading.
It is absolutely essential that you have the right reasons for
wanting to start and run your own business. If the idea of establishing
a business is the only option that you have then I would strongly urge
you to think again. It is not an easy option and unless you consider
that it is the right option for you, it is more than likely you will
become one of the failure statistics.
However, if you have decided that you really want to start your
own business then this is the book for you. It covers all the essential
points you need to know and think about before you actually go ahead.
Even if you already operate your own business, it will prove invaluable
in contributing to your ongoing success.
There are no secret tricks to being successful in business.
Success will only come through hard work and through always
offering something that the consumer wants, at the right price, in the
right place, and in the right quantity. On a final note, you must always
remember that you must never lose sight of the fact that you are also
in business to make money. Without ongoing profits you will
eventually fail.

Alan Le Marine!
Other documents randomly have
different content
 Cybersecurity - Case Study
First 2025 - Program

Prepared by: Teaching Assistant Williams

Date: August 12, 2025

Discussion 1: Best practices and recommendations

Learning Objective 1: Key terms and definitions
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Learning Objective 2: Ethical considerations and implications
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 2: Diagram/Chart/Graph]
Learning Objective 3: Literature review and discussion
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 3: Diagram/Chart/Graph]
Learning Objective 4: Problem-solving strategies and techniques
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 4: Diagram/Chart/Graph]
Learning Objective 5: Fundamental concepts and principles
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Important: Learning outcomes and objectives
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 6: Diagram/Chart/Graph]
Key Concept: Learning outcomes and objectives
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Critical analysis and evaluation
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Experimental procedures and results
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 9: Diagram/Chart/Graph]
Practice Problem 9: Experimental procedures and results
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Appendix 2: Research findings and conclusions
Practice Problem 10: Practical applications and examples
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 11: Diagram/Chart/Graph]
Practice Problem 11: Key terms and definitions
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 12: Diagram/Chart/Graph]
Important: Statistical analysis and interpretation
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Note: Comparative analysis and synthesis
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 14: Diagram/Chart/Graph]
Key Concept: Fundamental concepts and principles
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Learning outcomes and objectives
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Remember: Historical development and evolution
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 17: Diagram/Chart/Graph]
Practice Problem 17: Practical applications and examples
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 18: Experimental procedures and results
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Remember: Theoretical framework and methodology
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Part 3: Critical analysis and evaluation
Important: Learning outcomes and objectives
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 21: Diagram/Chart/Graph]
Important: Practical applications and examples
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Example 22: Case studies and real-world applications
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Important: Statistical analysis and interpretation
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 24: Learning outcomes and objectives
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Example 25: Problem-solving strategies and techniques
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Literature review and discussion
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Research findings and conclusions
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Note: Fundamental concepts and principles
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Definition: Theoretical framework and methodology
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Summary 4: Literature review and discussion
Example 30: Fundamental concepts and principles
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 31: Diagram/Chart/Graph]
Practice Problem 31: Research findings and conclusions
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Historical development and evolution
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 33: Diagram/Chart/Graph]
Definition: Learning outcomes and objectives
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Interdisciplinary approaches
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Note: Study tips and learning strategies
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Key terms and definitions
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Definition: Key terms and definitions
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 38: Diagram/Chart/Graph]
Example 38: Ethical considerations and implications
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Definition: Learning outcomes and objectives
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Test 5: Key terms and definitions
Remember: Problem-solving strategies and techniques
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 41: Learning outcomes and objectives
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 42: Diagram/Chart/Graph]
Example 42: Comparative analysis and synthesis
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Problem-solving strategies and techniques
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Research findings and conclusions
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Learning outcomes and objectives
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Example 46: Practical applications and examples
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Literature review and discussion
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Assessment criteria and rubrics
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 49: Diagram/Chart/Graph]
Example 49: Comparative analysis and synthesis
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 50: Diagram/Chart/Graph]
Test 6: Interdisciplinary approaches
Important: Assessment criteria and rubrics
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Important: Study tips and learning strategies
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 52: Diagram/Chart/Graph]
Remember: Best practices and recommendations
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Statistical analysis and interpretation
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 54: Literature review and discussion
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 55: Research findings and conclusions
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 56: Case studies and real-world applications
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Case studies and real-world applications
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 58: Diagram/Chart/Graph]
Example 58: Key terms and definitions
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Learning outcomes and objectives
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Practice 7: Critical analysis and evaluation
Example 60: Study tips and learning strategies
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Definition: Case studies and real-world applications
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Practical applications and examples
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Historical development and evolution
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 64: Experimental procedures and results
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 65: Research findings and conclusions
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Practical applications and examples
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Study tips and learning strategies
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Current trends and future directions
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Research findings and conclusions
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Summary 8: Historical development and evolution
Key Concept: Statistical analysis and interpretation
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 71: Case studies and real-world applications
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 72: Comparative analysis and synthesis
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Example 73: Comparative analysis and synthesis
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Learning outcomes and objectives
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Ethical considerations and implications
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Key terms and definitions
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 77: Practical applications and examples
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Fundamental concepts and principles
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Practical applications and examples
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Summary 9: Case studies and real-world applications
Example 80: Practical applications and examples
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Case studies and real-world applications
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
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