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1 WHY DO YOU WANT TO BE SELF-EMPLOYED? |
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You Hate Aspects of Your Job |
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Maybe You've Just Got the Urge |
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The Self-Employment Alternative |
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Do You Have the Entrepreneurial Itch? |
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How This Book Will Help Scratch Your Itch |
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2 WHAT DOES IT TAKE TO SUCCEED? |
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Attributes of a Successful Entrepreneur |
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Attributes of a Successful Business |
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Leg 2: Selling and marketing |
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Leg 3: Finance and administration |
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3 WHAT DO YOU WANT TO DO? |
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"A Restaurant Sounds Good" |
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Something Old? Something New? |
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Research, Research, Research |
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Research Should Never End |
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Niche Today, Gone Tomorrow? |
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What is good about a niche? |
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Always be thinking about your next niche |
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4 IF YOU CAN SELL, YOU'LL DO WELL |
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Expensive one-time advertising |
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Build a website and they will come |
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Other Keys to Marketing Your Business |
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5 GIVE YOURSELF A CHANCE: START ON A SHOESTRING |
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Advantages of a home office |
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Disadvantages of a home office |
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Why Not Get the Bank to Help? |
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Where Does Cash Come From Besides a Bank Loan? |
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Your savings and "sweat equity" |
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Tips for easing the cash-flow crunch |
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Track your daily cash flow |
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6 BOOKKEEPING: LIFEBLOOD OF A BUSINESS |
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Basic Accounting Concepts |
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Financial statements and journal entries |
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Capital assets, amortization, and depreciation |
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Bookkeeping for Sole Proprietors |
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Recording business finances separately makes tax time easier |
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Recording business finances separately gives a clearer view of your personal finances |
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Recording business finances separately lets you see how your business is doing |
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Invoicing and accounts receivable |
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Other bookkeeping entries |
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A word about using spreadsheets for bookkeeping |
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Bookkeepers versus accountants |
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Schedule C — Profit or Loss from Business (US) |
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Form T2124 — Statement of Business Activities (Canada) |
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Improving the Bottom Line |
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Cutting the right expenses |
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7 AIM FOR THE IDEAL BUSINESS |
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Pick and choose your clients |
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Make sure your clients are in a solid industry |
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Get Others to Do the Work |
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What kind of help do you need? |
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When can you afford to hire someone? |
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Competing with You Is Difficult |
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Your Whole Family Is Not Tied Up in the Business |
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8 RUN YOUR BUSINESS; DON'T LET IT RUN YOU |
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Juggling Three Balls at Once |
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What's On Your Dashboard? |
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9 IT'S NOT THE TIME, IT'S THE EFFORT |
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Disadvantages of Hourly Billing |
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It focuses on hours, not results |
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It limits the amount of money you can make |
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Billable hours become more important than business growth |
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It treats customers unequally |
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It doesn't reward the "finding" function |
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It penalizes technological advances |
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Hourly Billing Versus Set Fees |
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Keep track during the day |
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Use increments of less than one hour |
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Track chargeable and nonchargeable time |
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Time-Tracking and Reporting Software |
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The quest for five-star time-tracking and reporting software |
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| 10 INTEGRATE YOUR LIFE WITH YOUR BUSINESS |
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Life Tip 1 Do What You Don't Want to Do First |
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Life Tip 2 You Get What You Expect |
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Life Tip 3 Balance Is the Key |
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Life Tip 4 Plan on a Weekly, Not a Daily, Basis |
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Life Tip 5 Be Flexible with Your Time |
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Life Tip 6 Don't Be Afraid to Ask a Stupid Question |
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Life Tip 7 Stay Away from Those Who Say You Can't Do It |
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Life Tip 8 Don't Be Afraid of Your Competition |
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Life Tip 9 Leave Lots of Time for Completing Each Task |
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Life Tip 10 Don't Wait for Everything to Be Perfect |
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| 11 THE MILLIONAIRE DREAM: I'LL SELL IT AND GET RICH! |
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Business Valuation Methods |
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Business valuation method 1: Profit multiple |
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Business valuation method 2: Book value |
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Business valuation method 3: Service business |
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Are You Building It to Sell It? |
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| 12 COULD A FRANCHISE BE FOR YOU? |
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What Is a Franchise Anyway? |
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Advantages of a franchise |
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Disadvantages of a franchise |
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How Much Is a Franchise Worth? |
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Questions to Ask Before You Buy |
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Examples of franchise fraud |
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The Five Most Frequently Asked Questions about Franchises |
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Where can I get a company's presale disclosure document? |
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How can I find out if there have been complaints against a company? |
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How can I file a complaint against a company? |
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How do I know what must be included in a disclosure document or offering circular? |
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How can I find a lawyer who specializes in franchising? |
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| 13 THE SELF-EMPLOYMENT PENSION PLAN |
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Cushy Pension Plans Are Dying Out |
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Keeping a Job Is Getting Tougher |
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What Are You Going to Do? |
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I Love What I Do Now — Why Stop? |
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| 14 DO YOU STILL HAVE THE ENTREPRENEURIAL ITCH? |
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