With the purchase of this book, you’ve taken your first step on the road to entrepreneurship. It’s not a step to be taken lightly, which is why buying this book may be the smartest thing you’ll ever do for your business.

Start Your Own Business can have a major impact on your life. We meet people all the time who tell us how this book or Entrepreneur magazine changed their lives—and few are sorry they took the leap into business ownership. Whether or not they have succeeded, almost no one regrets the journey.

Start Your Own Business is designed as a road map to help you plan a course for your own journey to business ownership. We’re here to show you the best routes to take, help you avoid the potholes and road closures, and navigate the curves and detours.

Some will tell you that the journey you’re about to take is a hazardous one—but not with us at your side! Start Your Own Business prepares you every step of the way. We’re here to instruct and encourage you, to show you new ways to do things and remind you of the tried and true. You wouldn’t go on an adventure without the proper gear. Think of Start Your Own Business as part of your entrepreneurship gear kit. Refer to it every step of the way, starting with how to get an idea for a business to finally opening the doors to your new venture. Along the way, we provide lots of forms, worksheets, and checklists you can actually use in your business to make sure you’re on the right track.

Since business ideas, trends, and strategies constantly change, we strive to keep Start Your Own Business up-to-date. For the sixth edition, we’ve updated and revised (or expanded) every chapter and added a lot of new ones, too. In fact, Part 7, “Engage,” is updated with new sections on social media campaigns and on building an incredible web presence that will get your idea noticed.

We start by showing you how to get visitors to your website, keep them there, and make sure they return for more. Next, we move on to social media marketing and networking. If you haven’t jumped on the social media bandwagon yet, your business can’t afford to be left behind. We show you how to use social tools to network with potential customers, and connect and engage with your audience, because in today’s marketing landscape, that’s how brands are built.

We have also added chapters on running your business virtually, using the latest smartphone, tablet, and computer technology to connect seamlessly, and on funding options that were never before available, such as crowdfunding platforms.

Many business resources and tip boxes (see examples on the next page) have been updated for the sixth edition.

Finally, there’s an appendix that’s chock full of resources with contact information. We list business associations, federal agencies, books, magazines, and other publications in areas ranging from advertising and marketing to accounting and taxes. We even provide internet resources and equipment manufacturers.

aha!

Here you will find helpful information or ideas you may not have thought of before.

tip

This box gives you ideas on how to do something better or more efficiently, or simply how to work smarter.

warning

Heed the warnings in this box to avoid common mistakes and pitfalls.

e-fyi

This box points you to the treasures of the internet for more information.

save

Look for this box to provide valuable tips on ways you can save money during startup.

Starting your own business isn’t as frightening or risky as some would have you believe. But it’s a journey that shouldn’t be taken alone—and that’s why you bought Start Your Own Business. We’re glad you’ve chosen us to take this exciting journey with you—you’ll be a smarter traveler for it. Let the journey begin.

CHAPTER

Taking the Plunge

Get Ready to Be an Entrepreneur

Before they get started, some people worry if they have what it takes to be an entrepreneur. If this is you, stop worrying. We firmly believe anyone with the desire and the initiative can be an entrepreneur. And since you purchased this book, it’s likely you have both the desire and the initiative.

But just because you can be an entrepreneur doesn’t mean that now is the right time to take the plunge. This chapter will help you determine if you’re ready for entrepreneurship right now or if you should hold off for a bit.

The Entrepreneurial Personality

Every year, hundreds of thousands of people start their own businesses. But while most succeed (yes, that’s the truth!), many do fail. Why? One of the common causes of startup failure is lack of preparation.

warning

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