John English brings together a lifetime of business insight as an accountant, entrepreneur, and associate professor in entrepreneurship at the University of Tasmania. The simplicity and clarity of this book is a reflection of the author’s ability to blend his academic expertise with years of practical first-hand business experience.

• INTRODUCTION PART A PREPARING FOR SELF-EMPLOYMENT 1. The self-employment decision The power of being small. Diversity of small businesses. Pros and cons of self-employment. Personal characteristics and success. Management skills and experience. Taking the plunge. Risk of failure. Summary.2. Information and assistanceChoosing and an accountant. Choosing a solicitor. Finding a mentor. Business Enterprise Centre. Trade association. Australian Institute of Company Directors. Networking. State and territory small business agencies. Commonwealth government. Training programs. Summary.Reflective exercise: Why do I want to be self-employed? PART B GETTING STARTED 3. Pathways into business Parallel opportunities. New market opportunities. New product and service opportunities. Buying a Business. Buying a franchise. Starting from scratch. Summary.4. Start-up nuts and bolts Legal structure. What’s in a name? Business Registration Service. Licences and permits. Insurance. Summary.5. Business plan Myths and reality of planning. Putting your plan on paper. Sample business plan. Adapting to change. Summary.Reflective exercise: Evaluating the Risks PART C MARKETING PLAN 6. Marketing strategy Understanding your customers. Customer information. Positioning your business. Products and services. Distribution. Promotion. Pricing. Marketing mix. Summary.7. Traditional marketing Direct marketing. Media advertising. Writing advertising copy. Publicity. Sponsorship. Personal selling. Summary.8. Digital marketing What is digital marketing? Do I need a website? Search engines and directories. Email marketing. Online promotion. Social media. Mobile marketing. Getting help. Summary.Reflective exercise: Capturing the Target Market PART D OPERATIONS PLAN9. Operating practices Service operations. Retail operations. Online operations. Manufacturing operations. Summary.10. Location and layout Temporary premises. Home-based business. Retail premises. Service businesses. Manufacturing premises. Local government regulations. Negotiating a lease. Summary.11. Employing staff Legal framework. Designing a job. Hiring new staff. Motivation and performance. Staff turnover. Summary.Reflective exercise: Creating a Smooth OperationPART E FINANCIAL PLAN 12. Financial informationPaper trail. Accounting system. Balance sheet. Income statement. Financial ratios. Monitoring performance. Summary.13. Managing liquidity Operating cycle. Managing accounts receivable. Managing inventory. Managing accounts payable. Managing cash flow. Overcoming problems. Summary.14. Managing profitabilityCost structure. Contribution margin. Break-even point. Product and service profitability. Customer profitability. Market channel profitability. Monitoring costs. Summary.15. Financing and taxation Borrowing money. Leasing. Equity capital. Government grants. Australian taxation system. Summary.Reflective exercise: Financial ForecastsAppendix: Assessing Commercial Potential

John English brings together a lifetime of business insight as an accountant, entrepreneur, and associate professor in entrepreneurship at the University of Tasmania. The simplicity and clarity of this book is a reflection of the author’s ability to blend his academic expertise with years of practical first-hand business experience.

• INTRODUCTION PART A PREPARING FOR SELF-EMPLOYMENT 1. The self-employment decision The power of being small. Diversity of small businesses. Pros and cons of self-employment. Personal characteristics and success. Management skills and experience. Taking the plunge. Risk of failure. Summary.2. Information and assistanceChoosing and an accountant. Choosing a solicitor. Finding a mentor. Business Enterprise Centre. Trade association. Australian Institute of Company Directors. Networking. State and territory small business agencies. Commonwealth government. Training programs. Summary.Reflective exercise: Why do I want to be self-employed? PART B GETTING STARTED 3. Pathways into business Parallel opportunities. New market opportunities. New product and service opportunities. Buying a Business. Buying a franchise. Starting from scratch. Summary.4. Start-up nuts and bolts Legal structure. What’s in a name? Business Registration Service. Licences and permits. Insurance. Summary.5. Business plan Myths and reality of planning. Putting your plan on paper. Sample business plan. Adapting to change. Summary.Reflective exercise: Evaluating the Risks PART C MARKETING PLAN 6. Marketing strategy Understanding your customers. Customer information. Positioning your business. Products and services. Distribution. Promotion. Pricing. Marketing mix. Summary.7. Traditional marketing Direct marketing. Media advertising. Writing advertising copy. Publicity. Sponsorship. Personal selling. Summary.8. Digital marketing What is digital marketing? Do I need a website? Search engines and directories. Email marketing. Online promotion. Social media. Mobile marketing. Getting help. Summary.Reflective exercise: Capturing the Target Market PART D OPERATIONS PLAN9. Operating practices Service operations. Retail operations. Online operations. Manufacturing operations. Summary.10. Location and layout Temporary premises. Home-based business. Retail premises. Service businesses. Manufacturing premises. Local government regulations. Negotiating a lease. Summary.11. Employing staff Legal framework. Designing a job. Hiring new staff. Motivation and performance. Staff turnover. Summary.Reflective exercise: Creating a Smooth OperationPART E FINANCIAL PLAN 12. Financial informationPaper trail. Accounting system. Balance sheet. Income statement. Financial ratios. Monitoring performance. Summary.13. Managing liquidity Operating cycle. Managing accounts receivable. Managing inventory. Managing accounts payable. Managing cash flow. Overcoming problems. Summary.14. Managing profitabilityCost structure. Contribution margin. Break-even point. Product and service profitability. Customer profitability. Market channel profitability. Monitoring costs. Summary.15. Financing and taxation Borrowing money. Leasing. Equity capital. Government grants. Australian taxation system. Summary.Reflective exercise: Financial ForecastsAppendix: Assessing Commercial Potential

John English brings together a lifetime of business insight as an accountant, entrepreneur, and associate professor in entrepreneurship at the University of Tasmania. The simplicity and clarity of this book is a reflection of the author’s ability to blend his academic expertise with years of practical first-hand business experience.

• INTRODUCTION PART A PREPARING FOR SELF-EMPLOYMENT 1. The self-employment decision The power of being small. Diversity of small businesses. Pros and cons of self-employment. Personal characteristics and success. Management skills and experience. Taking the plunge. Risk of failure. Summary.2. Information and assistanceChoosing and an accountant. Choosing a solicitor. Finding a mentor. Business Enterprise Centre. Trade association. Australian Institute of Company Directors. Networking. State and territory small business agencies. Commonwealth government. Training programs. Summary.Reflective exercise: Why do I want to be self-employed? PART B GETTING STARTED 3. Pathways into business Parallel opportunities. New market opportunities. New product and service opportunities. Buying a Business. Buying a franchise. Starting from scratch. Summary.4. Start-up nuts and bolts Legal structure. What’s in a name? Business Registration Service. Licences and permits. Insurance. Summary.5. Business plan Myths and reality of planning. Putting your plan on paper. Sample business plan. Adapting to change. Summary.Reflective exercise: Evaluating the Risks PART C MARKETING PLAN 6. Marketing strategy Understanding your customers. Customer information. Positioning your business. Products and services. Distribution. Promotion. Pricing. Marketing mix. Summary.7. Traditional marketing Direct marketing. Media advertising. Writing advertising copy. Publicity. Sponsorship. Personal selling. Summary.8. Digital marketing What is digital marketing? Do I need a website? Search engines and directories. Email marketing. Online promotion. Social media. Mobile marketing. Getting help. Summary.Reflective exercise: Capturing the Target Market PART D OPERATIONS PLAN9. Operating practices Service operations. Retail operations. Online operations. Manufacturing operations. Summary.10. Location and layout Temporary premises. Home-based business. Retail premises. Service businesses. Manufacturing premises. Local government regulations. Negotiating a lease. Summary.11. Employing staff Legal framework. Designing a job. Hiring new staff. Motivation and performance. Staff turnover. Summary.Reflective exercise: Creating a Smooth OperationPART E FINANCIAL PLAN 12. Financial informationPaper trail. Accounting system. Balance sheet. Income statement. Financial ratios. Monitoring performance. Summary.13. Managing liquidity Operating cycle. Managing accounts receivable. Managing inventory. Managing accounts payable. Managing cash flow. Overcoming problems. Summary.14. Managing profitabilityCost structure. Contribution margin. Break-even point. Product and service profitability. Customer profitability. Market channel profitability. Monitoring costs. Summary.15. Financing and taxation Borrowing money. Leasing. Equity capital. Government grants. Australian taxation system. Summary.Reflective exercise: Financial ForecastsAppendix: Assessing Commercial Potential