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Make Your First Million: Ditch the 9-5 & Start the Business of Your Dreams, 2nd Edition

Make Your First Million: Ditch the 9-5 & Start the Business of Your Dreams, 2nd Edition

by Martin Webb
Publisher: Capstone
Release Date: June 2009
ISBN: 9781906465544
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Book Description

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)

Table of Contents

  1. Copyright
  2. INTRODUCTION: WHEN IS A GOOD TIME TO START A BUSINESS?
    1. SETTING UP IN A TOUGH MARKET
    2. WHAT KIND OF BUSINESS?
    3. FINDING THE MONEY
    4. BEING REALISTIC
  3. PROLOGUE: THE FALSE START
  4. 1. SO YOU WANT TO BE AN ENTREPRENEUR?
    1. 1.1. SO, WHAT IS AN ENTREPRENEUR?
    2. 1.2. THE REAL BENEFITS OF PRACTICAL ENTREPRENEURSHIP
    3. 1.3. THE MAIN ATTRIBUTES OF AN ENTREPRENEUR
    4. 1.4. HAVE YOU GOT WHAT IT TAKES?
      1. 1.4.1. Will it make a million?
      2. 1.4.2. Take the first step
  5. 2. STARTING AFRESH
    1. 2.1. DECIDE WHAT YOU'RE GOING TO DO AND WEIGH UP THE RISKS
    2. 2.2. WHAT IS A GREAT IDEA?
    3. 2.3. IDENTIFYING YOUR PRODUCT AND YOUR MARKET AND FINDING THE START-UP MONEY TO ATTACK IT
  6. 3. PUTTING THE IDEA INTO PRACTICE
    1. 3.1. DO YOU ACTUALLY NEED PREMISES?
    2. 3.2. FINDING THE RIGHT PREMISES
    3. 3.3. KNOWING YOUR COSTS AND YOUR BREAK-EVEN POINT
    4. 3.4. DECIDING WHETHER OR NOT YOUR IDEA HAS LEGS
  7. 4. THE OPENING DAYS
    1. 4.1. PLANNING THE MARKETING PROCESS
    2. 4.2. THEY ONLY DO IT ONCE – GET A FIRST IMPRESSION, THAT IS
    3. 4.3. FIRST IMPRESSIONS OF A WEBSITE
    4. 4.4. AND SO TO THE PEOPLE
    5. 4.5. THE NEXT OUTLET
    6. 4.6. ARGH! NOT THE BUSINESS PLAN
  8. 5. BUILDING ON SUCCESS
    1. 5.1. BUILDING FAST
    2. 5.2. GETTING THE RIGHT PEOPLE TO DO A GREAT JOB
    3. 5.3. IMPROVING THEIR SKILLS
    4. 5.4. DELEGATE, DON'T ABDICATE
    5. 5.5. CHANGING GEAR
  9. 6. BRANCHING OUT AND PREPARING TO EXIT
    1. 6.1. EXPANDING THE PRODUCT RANGE
    2. 6.2. SETTING A LONG-TERM STRATEGY – OUR FOUR-PRONGED ATTACK
      1. 6.2.1. Continued focus on the Polar Bar brand
      2. 6.2.2. Publicity for the C-Side company
      3. 6.2.3. The continued development of the management team and the staff
      4. 6.2.4. Making the business highly saleable
  10. 7. CASHING IN
  11. THE ENTREPRENEUR'S TOOLKIT
    1. INTRODUCTION
      1. Contents
    2. 1 THE GENERAL BUSINESS MODEL AND WORKING CAPITAL
    3. 2 RISK ASSESSMENT
    4. 3 GETTING THE START-UP MONEY
    5. 4 DRAWING UP THE FIRST ROUGH FINANCIAL PLAN
      1. The importance of break-even analysis and what it does for you
      2. Using break-even analysis for budgeting
    6. 5 THE DECISION TO LEASE PREMISES OR BUY THEM
      1. The implications of owning assets
    7. 6 DRAWING UP A DETAILED BUSINESS PLAN
      1. The upside of the dreaded banking forms
      2. The forms themselves
        1. What is your target market?
        2. Do you really understand your customers and what they want?
          1. Customer value statement
        3. Who are your competitors?
        4. Who are the key people in your organization?
        5. Is your plan to reach your market realistic?
        6. Is your price right?
        7. Who's going to do the selling and what's the bonus scheme?
        8. Where are your premises?
        9. What are the equipment and other start-up costs?
    8. 7 THE FORMAL DOCUMENTATION OF STAFF APPRAISAL