Small Business for Dummies. Veechi Curtis

Telling a Story with Your Profit & Loss Report Taking a Snapshot with Your Balance Sheet Why Profit Doesn’t Always Mean Cash Budgeting As If You Mean It Looking at Cashflow Chapter 18: Taming the Tax Tyrant Getting a Grip on GST Growing Some Recordkeeping Smarts Planning Ahead Staying Out of Trouble Budgeting for Tax

      10  Part 6: The Part of Tens Chapter 19: Ten Things to Do If You Hit Hard Times Work Out How Bad Things Really Are Get Breathing Space Innovate! Slash Those Expenses Pull Back Personal Spending Get Rid of Dead Weight Chase Up Overdue Accounts Run Special Offers Re-Jig Your Margins Don’t Be a Shag on a Rock Chapter 20: Ten Tips for Selling Your Business Start with a Game Plan Prepare Well in Advance Give Your Financials a Make-Over Get a Professional Valuation Go for the Max Plan for a Few Bills Woo the Buyer Do Due Diligence in Advance Be Straight Up with Employees Spread the Word

      11  Index

      12  About the Author

      13  Connect with Dummies

      14  End User License Agreement

      List of Tables

      1 Chapter 2TABLE 2-1 Rating Businesses According to Potential Strategic AdvantageTABLE 2-2 Rating Head-to-Head Competitors

      2 Chapter 4TABLE 4-1 Moving from a Small Business to a Big Business

      3 Chapter 5TABLE 5-1 Industry Analysis — Regional Accounting FirmTABLE 5-2 Summarising Opportunities and Threats

      4 Chapter 6TABLE 6-1 Customer Analysis — Fit and Fun Personal Training

      5 Chapter 7TABLE 7-1 Summary of Different Business Structures

      6 Chapter 8TABLE 8-1 Calculating Maximum Billable Hours per YearTABLE 8-2 Examples of Sales Estimates for Different Business Types

      7 Chapter 9TABLE 9-1 Variable Costs Examples for Service BusinessesTABLE 9-2 Cost of Producing One Bottle of Pickle

      8 Chapter 11TABLE 11-1 Example Competitor AnalysisTABLE 11-2 Supporting Sales Goals with Strategies

      9 Chapter 12TABLE 12-1 How Many Complaints Have You Received This Year?

      10 Chapter 13TABLE 13-1 When You Have to Pay Super (and When You Don’t)

      11 Chapter 15TABLE 15-1 First Four-Week Budget for Retail BusinessTABLE 15-2 Start-up Expenses versus First Four Weeks of Operating Expenses

      List of Illustrations

      1 Chapter 2FIGURE 2-1: Using your strategic advantage, competitor analysis and competitive...

      2 Chapter 3FIGURE 3-1: Calculating average profit (also known as EBIT).FIGURE 3-2: Your total start-up costs involve much more than the initial purcha...

      3 Chapter 5FIGURE 5-1: Rating your business on key areas of performance.FIGURE 5-2: The principles of a SWOT analysis.FIGURE 5-3: Plotting business strategy using a SWOT analysis.

      4 Chapter 6FIGURE 6-1: A mission statement.

      5 Chapter 7FIGURE 7-1: Digging around for names in the ASIC business names register.FIGURE 7-2: Check the Australian Trade Mark Search for relevant trademarks.

      6 Chapter 8FIGURE 8-1: Building a 12-month sales forecast in Excel for a service business.FIGURE 8-2: Building a 12-month sales forecast in Excel for a business selling ...

      7 Chapter 9FIGURE 9-1: Start by estimating an amount for each expense, along with how ofte...FIGURE 9-2: Forecasting expenses for the months ahead.FIGURE 9-3: Building a gross profit projection for a service with employees or ...FIGURE 9-4: Building a gross profit projection for a business selling products,...FIGURE 9-5: Compiling a monthly profit projection.

      8 Chapter 10FIGURE 10-1: Calculating business break-even point.FIGURE 10-2: Calculating break-even point to cover both business and personal e...FIGURE 10-3: Understanding your break-even point enables you to plan ahead for ...FIGURE 10-4: Calculating what you need to do to break even in the first 12 mont...

      9 Chapter 13FIGURE 13-1: Your employer checklist.FIGURE 13-2: Workplace health and safety is an ongoing process.

      10 Chapter 14FIGURE 14-1: Checklist for what to include in a letter of employment.

      11 Chapter 17FIGURE 17-1: A simple Profit & Loss report.FIGURE 17-2: A Balance Sheet shows where your business is at.FIGURE 17-3: Stay realistic using budgets.FIGURE 17-4: Keep budgets real by comparing against actual results.FIGURE 17-5: A sample cashflow report.

      12 Chapter 18FIGURE 18-1: An invoice or receipt needs to include all the right details.FIGURE 18-2: Generate reports regularly to find out how much GST you owe.

      13 Chapter 20FIGURE 20-1: Checklist for preparing your business for sale.

      Guide

      1  Cover