HOW TO START A BUSINESS FOR FREE The Ultimate Guide to Building Something Profitable from Nothing SILVER LAKE PUBLISHING LOS ANGELES, CA ABERDEEN, WA How to Start a Business for Free The Ultimate Guide to Building Something Profitable from Nothing First edition Copyright © 2003 by David Caplan Silver Lake Publishing 111 East Wishkah Street Aberdeen, WA 98520 For a list of other publications or for more information, please call 1.360.532.5758 Visit our Web site at www.silverlakepub.com All rights reserved No part of this book may be reproduced, stored in a retrieval system or transcribed in any form or by any means (electronic, mechanical, photocopy, recording or otherwise) without the prior written permission of the copyright owner Library of Congress Catalogue Number: pending How to Start a Business for Free The Ultimate Guide to Building Something from Nothing Includes index Pages: 308 ISBN: 1-56343-856-9 TABLE OF CONTENTS INTRODUCTION: Getting Started CHAPTER 1: CHOOSING A BUSINESS CHAPTER 2: MEETING THE CUSTOMERS…AND 11 THE COMPETITION 47 CHAPTER 3: THE NUTS AND BOLTS OF BUSINESS OWNERSHIP 67 CHAPTER 4: GETTING MONEY FOR FREE 99 CHAPTER 5: MOVING FROM THE PLAN TO OPERATIONS 137 CHAPTER 6: OFFICE SPACE, EQUIPMENT & OTHER SUPPLIES 171 CHAPTER 7: BUILDING A WEB SITE FOR YOUR BUSINESS 207 CONCLUSION: The Free Mentality 251 APPENDICES: APPENDIX A: WHERE TO GET A BUSINESS LICENSE 253 APPENDIX B: LIST OF PATENT & TRADEMARK RESOURCES 257 APPENDIX C: LIST OF RESOURCES 261 APPENDIX D: LIST OF BUSINESS PLAN TOOLS 277 APPENDIX E: LIST OF SBDCS 281 APPENDIX F: LIST OF WOMEN’S MENTORING ORGANIZATIONS 285 APPENDIX G: LIST OF BUSINESS INCUBATORS 293 INDEX 303 Introduction: Getting Started INTRODUCTION: GETTING STARTED There are many reasons to go into business for yourself Maybe you want to expand your earning potential or you want flexible work hours and the best parking spot Or, maybe you’re just tired of working for someone else and commuting two hours a day Some people want to start their own business because their current employer is downsizing and it seems easier than pounding the pavement looking for a new job Others want to start a business to gain the freedom they’ve always dreamed of because being “self-employed” affords you the freedom to control your own destiny Let’s face it, everyone—from newspapers, magazines and TV to radio, Learning Annex seminars and the Internet—is touting why you should go into business for yourself You’ve probably seen the signs on freeway onramps that entice you to think about self-employment Have you ever wanted to be your own boss? Set your own hours? Work from home? Want the freedom to work when you want? Are you thinking about starting your own company but don’t know where to start? The list goes on and on Being in business for yourself, however, isn’t always what it’s cracked up to be Being in business for yourself often means working long hours— starting early in the morning and working late into the evening most days and even putting time in on weekends Being in business for yourself means How to Start a Business for Free postponing that vacation to Jamaica because there is no one else to run the business when you’re not there And, the little things, like movies, golf, hiking or catching an occasional ball game, are no longer recreation when you own your own business They become luxuries Whatever the reason, starting your own business requires an independent spirit and a strong sense of self-motivation to stand out from others in your marketplace And there are plenty of other entrepreneurs in the United States willing to take that risk and prove to the world that they have those qualities Why not? According to the U.S Department of Labor, firms with fewer than 500 employees employ 55 percent of the private, non-farm work force, contribute 48 percent of all sales in the country and are responsible for 51 percent of the private gross domestic product In addition, small business-dominated industries produced an estimated 68 percent of the million new jobs created during 2000, according to the U.S Departments of Labor and Commerce If that’s not enough motivation to get your business plan up and running, according to the Small Business Administration, small businesses: • represent more than 99 percent of all employers; • employ 52 percent of the private workers; • employ 61 percent of the private workers on public assistance; • employ 38 percent of the private workers in high-tech occupations; • provide virtually all of the net new jobs; • provide 51 percent of the private sector output; • represent 96 percent of all exporters of goods; • receive 35 percent of federal contract dollars; and • are home-based 53 percent of the time and are franchises percent of the time This means if you decide to start your own business, you will not be alone…not by a long shot! Moreover, as you start to plan what kind of business you will start and how you will finance it, it’s a good idea to find Introduction: Getting Started other entrepreneurs in your community to help you keep your head above water Other entrepreneurs can help you avoid some of the common pitfalls tied to owning your own business They’ve been down the same road you are about to take, so find them and ask as many questions as you can We’ll go into greater detail on mentoring resources in a later chapter, but it’s never too early to ask for direction As you begin to talk to others who have made the small-business leap and look at other businesses that are operating in the economy around you, you’ll see that the opportunities for entrepreneurship are abound, waiting for the taking You can turn anything you love into a money-making opportunity, and this book will show you how Hundreds of businesses can be started for little or no capital at all For example, a housesitting or tax-preparation business Or maybe you’re more into the doggrooming or diversity training business Take the founders of Nantucket Nectars for example, otherwise known as the “Juice Guys” who took a sloppy boat business and turned it into a multimillion-dollar company Tom Scott and Tom First didn’t want the corporate job with the corporate car or the morning commute They had flunked accounting, the only business-related course under their belts, but knew when they graduated from Brown University in 1989 that they wanted to live on Nantucket year-round and make something work—on their own Scott had already worked in the harbor the previous year as a taxi driver He didn’t want to work for someone else, so he started Allserve, a floating convenience store, on a 19-foot Boston Whaler that drove around the harbor servicing the Nantucket boating community Scott sold muffins, delivered newspapers, disposed of trash and even did some people’s laundry—and he loved it because he was working for himself, outside, on a boat and making money The following summer, First joined Scott and the two expanded the business to include boat towing, repairs and rescue Getting through the cold and slow winter, however, was rough One night, First made a juice blend for dinner and within five minutes, the two Toms were joking with one another, “Let’s sell this off the boat next summer We’ll call it Nantucket Nectars.” How to Start a Business for Free The rest is history But it’s not history without a few low points and some major hits In the start-up phase, the two Toms did everything they could to stay afloat They sold their juice concoctions off their Whaler and eventually out of a little storefront on the Straight Wharf of Nantucket (which is still there) They never lost sight of their goal to survive on Nantucket year-round and maintain a business And, knowing that their floating convenience store was too seasonal to work in the long-run, however, the Toms settled on making the juice company work Without fancy funding, the two Toms resorted to making money elsewhere until the business got going They performed oddball jobs here and there, including shucking scallops, painting houses, bartending and pumping waste They also focused on the quality of their juice product (innovative bottle design and flavors) The two Toms paid bills slowly, collected receivables as fast as possible and paid themselves nothing At one point, Tom Scott lived in his car or in a group house with no heat to make ends meet Eventually though, the business grew and an angel investor (coincidentally a client they had serviced in the past) kicked in some money to help move the company along In 1999, Nantucket Nectars reported $60 million in sales One thing, however, did have to change with such rapid growth: the company grew too large for Nantucket and moved to Cambridge, Massachusetts But by then, the Juice Guys had made their mark in the juice world They could sail over to Nantucket in their own boat whenever they needed some island healing.1 The lessons from the two Toms are clear: Success in business doesn’t necessarily start with an expensive MBA or a windfall of venture capital It starts by asking yourself the most basic of questions: What you want in life and where and how you want to live? Focus on those essentials and other things will likely follow And it’s always key to make friends, even in bars and harbors, whom you can call when you need some cash Ocean Spray Cranberries, Inc bought a large piece of the company in early 1998— which was later sold to Cadberry Schwepps—but Scott and First retain a large piece of the company’s ownership and remain active in its management Introduction: Getting Started Never underestimate your own financial power Between boot-strapping your business and asking Aunt Betty for a loan to start your company, digging deep into your own pockets first is a step toward getting what you need Raising capital outside your close network of friends and neighbors is a hard thing to these days Capital is scarce The late 1990s had people wrongly believe that venture capital is easy to snatch up—for even the rookie entrepreneur in need of start-up cash (to also finance a fancy car and lavish parties.) That may have been the case back during the heady dot.com days, but those days are over and the current venture capital market is closer to how it usually works It takes a lot more of a sales pitch to get noticed In reality, the vast majority of successful new businesses are self financed Among the honored businesses that made Inc magazine’s 500 list over the past 20 years are Microsoft, Domino’s Pizza, Oracle, Jenny Craig, Pete’s Brewing, Jamba Juice, The Sharper Image, Princeton Review and Patagonia When those companies made the list, all were privately owned and at least five years old Few, if any, started with institutional capital And, in 2001 only percent of the Inc 500 companies received venture-capital funds at start-up.2 This book answers the questions you may have about starting and running your own business, and attempts to resolve those fuzzy lines between writing a business plan and actually putting the plan into action Starting and running your own business takes hard work You need the wisdom, discipline, courage and persistence to know how to best protect your investment whether you’re running a carpentry business or doing consulting work as a motivational speaker This book explains in simple terms the types of business structures that exist, and provides a working knowledge of how to develop the financing, marketing, product development and operations of your own business Whether your idea for a business is big or small, you’ll want to “Brief Profiles of 2001 Inc 500 Companies”; Inc magazine, 11/01 How to Start a Business for Free 294 • Sitka Business Incubator, 303 Lincoln Street, Suite 3, Sitka, AK 99835 Phone: (907) 966-3301 Internet: www.incubationworks.com • Arizona Technology Incubator, 1435 N Hayden Road, Scottsdale, AZ 85257 Phone: (480) 990-0400 Internet: www.accessarizona.com/ community/groups/ati/index.html Focuses on high technology businesses • Tucson Technology Incubator, The University of Arizona, Science and Technology Park, 9040 South Rita Road, Suite 1100, Tucson, AZ 85747 Phone: (520) 663-3597 Internet: www.tucsonincubator.org/ home.htm • Genesis Technology Incubator, (Mailing Address) University of Arkansas, Fayetteville, AR 72701-1201, (Physical Address) 700 Research Center Boulevard, Fayetteville, AR 72701 Phone: (501) 5757227 • Arkansas Biotechnology Incubator, University of Arkansas for Medical Sciences, Biomedical Biotechnology Center, 4301 West Markham Street, Slot 718, Little Rock, AR 72205 Phone: (501) 686-6696 Internet: http://biotech.uams.edu • CALSTART Project Hatchery Business Incubator, 3360 E Foothill Boulevard, Pasadena, CA 91107 Phone: (626) 744-5600 Internet: www.calstart.org/calindex3.html • Business Technology Center of Los Angeles County, 2400 Lincoln Avenue, Altadena, CA 91001 Phone: (626) 296-6300 Internet: www.labtc.org • EC2, 746 West Adams Boulevard, Los Angeles, CA 90089-7727 Phone: (213) 743-2344 Internet: www.ec2.edu Focuses on companies developing new media content or communications technology • Communications Technology Cluster, 2201 Broadway, 2nd Floor, Oakland, CA 94612-1932 Phone: (510) 836-8985 Internet: www.ctcluster.com Focuses on communications technology firms • Center for Applied Competitive Technologies at San Diego City College, 1313 Twelfth Avenue, San Diego, CA 92101 Phone: (619) Appendix G 230-2080 Internet: www.cact-sd.org Focuses on technology businesses • San José Software Business Cluster, North First Street, 4th Floor, San Jose, CA 95113 Phone: (408) 535-2701 Internet: www.sjsbc org Focuses on software start-ups • Colorado Venture Centers, 1610 Pierce Street, Texas Building, Lakewood, CO 80214 Phone: (303) 237-3998 Internet: www.coloradoventure.org Focuses on businesses involved in biotech, software, environment, advanced materials and alternative energy • Boulder Technology Incubator, Marine Street Science Building, 3215 Marine Street, Boulder, CO, 80303 Phone: (303) 492-8585 Also located at 1821 Lefthand Circle, Suite B, Longmont, CO, 80501 Phone: (303) 678-8000 • Enterprise North Florida Corporation, 7400 Baymeadows Way, Suite 201, Jacksonville, FL 32256, (904) 730-4700 Focuses on technology-based companies • Bay County Small Business Incubator, 2500 Minnesota Avenue, Lynn Haven, FL 32444 Phone: (850) 271-1107 Internet: http://enfc.org Focuses on newly formed or expanding service industry, light manufacturer, assembler, or research & development firms • Enterprise Development Corporation of Florida, 3998 FAU Boulevard, Suite 200, Boca Raton, Florida 33431 Phone: (561) 620-8494 Internet: www.edc-tech.org Focuses on technology-based companies • Seminole Technology Business Incubation Center, 1445 Dolgner Place, Sanford, FL 32771 Phone: (407) 321-3495 Internet: www.seminoleinc.com Focuses on technology-based companies • Florida/NASA Business Incubation Center, 5195 South Washington Avenue, Titusville, FL 32980 Phone: (321) 269-6330 Internet: www.trda.org/fnbic Focuses on technology-based companies 295 How to Start a Business for Free 296 • The Fulton County Business Incubator, 5534 Old National Highway, Building H, Suite 300, Atlanta, GA 30349 Phone: (404) 559-9466 Internet: www.fcbi.org Focuses on the telecommunication, information technology and related industries • Augusta-Richmond County Small Business Incubator, 3140 Augusta Tech Drive, Augusta, GA 30906-3381 Phone: (706) 792-9044 Internet: www.arcsbi.com Focuses on service, manufacturing, and research & development businesses • The South DeKalb Business Incubator, 2632 Rainbow Way, Decatur, GA 30034 Phone: (404) 241-3522 Internet: www.sdbusinc.org/ index.htm Includes the Incubator Without Walls program for businesses that are not quite ready to take the plunge for their own office space • Manoa Innovation Center, 2800 Woodlawn Drive, Suite 100, Honolulu, HI 96822 Phone: (808) 539-3600 Internet: www.htdc.org/mic/ mic.html Focuses on high technology businesses • Idaho Innovation Center, 2300 North Yellowstone, Idaho Falls ID 83401 Phone: (208) 523-1026 Internet: www.iictr.com • The Bonner Business Center, 804 Airport Way, Sandpoint, ID 83864 Phone: (208) 263-4073 Internet: www.sandpoint.org/bbc Focuses on light manufacturing, assembly, wholesale distribution, research and development, manufacturer’s representatives, and service companies Also has special food preparation areas for businesses involved in specialty food product development • CSI Business Incubator, College of Southern Idaho, 315 Falls Avenue, P.O Box 1238, Twin Falls, ID 83303-1238 Phone: (208) 7339554, ext 2450 Internet: www.csi.cc.id.us/support/isbdc/incubator/businc.htm • North Central Idaho Business Technology Incubator, 121 Sweet Avenue Moscow, ID 83843 Phone: (208) 885-3801 Focuses on high technology and biotechnology Appendix G • Idaho State University Business and Technology Center, Campus Box 8044, 1651 Alvin Ricken Drive, Pocatello, ID 83201 Phone: (208) 236-2430 • Upper Snake River Valley Incubator, 310 N 2nd East, Rexburg ID 83440 Phone: (208) 356-4524, ext 322 • North Idaho Business Center for Innovation & Development, 11100 Airport Drive, Hayden, ID 83835 Phone: (208) 772-0584 • Dunn Richmond Economic Development Program Small Business Incubator, Office of Economic and Regional Development, Southern Illinois University, Carbondale, IL 62901 Phone: (618) 536-4047 Internet: www.siu.edu/~econdev/bip/bipindex.htm • Chicago Southland Development Inc., 1655 Union, Chicago Heights, IL 60411 Phone: (708) 754-6960 Focuses on a range of businesses, from service to light manufacturing • Business Center of Decatur, 2121 S Imboden Ct., Decatur, IL 62521 Phone: (217) 423-2832 Focuses on office, manufacturing and warehouse businesses • Technology Innovation Center, 1840 Oak Avenue, Evanston, IL 60201 Phone: (847) 864-0800 Internet: www.theincubator.org • Technology Commercialization Laboratory, Urbana, IL Internet: www.aces.uiuc.edu/~tcl • Evansville’s Small Business Incubators, Evansville, IN • Venture Out Business Center, 975 Industrial Drive, Madison, IN 47250 Phone: (812) 273-6510 Internet: www.vobc.com/ page7.html Focuses on light manufacturing and service-oriented companies • Iowa State Innovation System, 2501 North Loop Drive, Suite 600, Ames, IA 50010 Phone: (515) 296-PARK Internet: www.isupark.org • Enterprise Center of Johnson County, 9875 Widmer Road, Lenexa, KS 66215 Phone: (913) 438-2282 Internet: www.ecjc.com 297 How to Start a Business for Free 298 • Louisiana Business and Technology Center, South Stadium Drive, Baton Rouge, LA 70803-6100 Phone: (225) 334-5555 Internet: www.bus.lsu.edu/lbtc • The Enterprise Center of Louisiana Phone: (337) 896-9115 Internet: www.ecol.org • The NOBID Enterprise Center, 13801 Old Gentilly Road, New Orleans, LA 70129 Phone: (504) 254-2600 Internet: www.nobid.org • UMBC Research Park and Technology Center, 1000 Hilltop Circle, Baltimore, MD 21250 Phone: (410) 455-1000 Internet: www.umbc.edu/Business/Research • Technology Advancement Program, 387 Technology Drive, University of Maryland, College Park, MD 20742 Phone: (301) 314-7803 Internet: www.erc.umd.edu/TAP • The Enterprise Center at Salem State College, 121 Loring Ave., Salem, MA 01970 Phone: (978) 542-7528 Internet: www.enterprisectr.org Focuses on technology, service and light manufacturing businesses, but also works with micro-enterprises Space is available at market rates, but that includes educational programs and mentoring • MBI International, P.O Box 27609, Lansing, MI 48909-0609 Phone: (517) 337-3181 Internet: www.mbi.org Focuses on biotechnology research and development • Genesis Business Centers, Ltd., 3989 Central Ave N.E., Suite 530, Columbia Heights, MN 55421 Phone: (612) 782-8576 Internet: www.genesiscenters.com Focuses on high technology start-ups • University Technology Enterprise Center, Ltd., 1313 Fifth Street SE, Minneapolis, MN 55414 Phone: (612) 379-3800 Internet: www2.pro-ns.net/~utec • The Golden Triangle Enterprise Center, One Research Boulevard, Suite 201, Starkville, MS 39759 Phone: (662) 320-3990 Internet: www.gtec.org Focuses on high technology Appendix G • Mississippi Enterprise for Technology, Building 1103, Suite 140A, John C Stennis Space Center, MS 39529-6000 Phone: (228) 6882083 Internet: www.mset.org/incubator.html • The Technology Development Center, University of Nebraska Technology Park, 4701 Innovation Drive, Lincoln, NE 68521-5330 Phone: (402) 472-4200 Internet: www.unebtechpark.com/ TDC.asp • Stevens Technology Ventures Incubator, 610 River Street, Hoboken, New Jersey 07030-5053 Phone: (201) 216-5366 Internet: http:// attila.stevens-tech.edu/tvi • Ground Floor Ventures, 720 Monroe Street, Suite E-209, Hoboken, NJ 07030 Phone: (201) 420-4446 Focuses on women owned and/ or operated software and Internet technology businesses • Center for Environmental Sciences & Technology, University at Albany, CESTM B203, 251 Fuller Road, Albany, NY 12203 Phone: (518) 437-8600 Internet: www.albany.edu/pr/ CESTMINCU.html • Western New York Technology Development Center, Inc., Baird Research Park, 1576 Sweet Home Road, Amherst, NY 14228 Phone: (716) 636-3626 Internet: http://wings.buffalo.edu/wnytdc • The Case Center, 2-212 Center for Science and Technology, 111 College Place, Syracuse University, Syracuse, NY 13244 Phone: (315) 443-1060 Internet: www.cat.syr.edu Focuses on high technology start-ups • Incubator Program at Rennselaer Polytechnic Institute, 1223 Peoples Ave., Troy, NY 12180 Phone: (518) 276-6658 Internet: www.rpi.edu/dept/incubator/homepage/index.html Focuses on technology businesses • Cincinnati Business Incubator, Inc., 1634 Central Parkway, Cincinnati, OH 45210 Phone: (513) 362-2703 Internet: http:// cbincubator.org Focuses on women- and minority-owned businesses 299 How to Start a Business for Free 300 • Lewis Incubator for Technology, 4440 Warrensville Center Road, Cleveland, OH 44128, (216) 586-3888 or 21000 Brookpark Road, MS 501-6, Cleveland, OH 44135 Phone: (216) 433-5300 Internet: www.liftinc.org • Dayton/Miami Valley Entrepreneurs Center, Suite #106, 3155 Research Blvd., Kettering, OH 45420 Phone: (937) 258-5400 Internet: www.techincubator.org Focuses on technology enterprises • Allen Economic Development Group, 147 N Main Street, Lima, OH, 45801 Phone: (419) 222-7706 Internet: www.aedg.org This organization is developing a business incubator program • Youngstown Business Incubator, 241 Federal Plaza West, Youngstown, OH 44503 Phone: (330) 746-5003 Internet: www.ybi.org Focuses on technology-based enterprises • Pontotoc Area Vo-Tec School, 601 West 33rd, Ada, OK 74820 Phone: (405) 436-0180, ext 2244 Internet: www.pontotoc.com Focuses on manufacturing products • Meridian Technology Center, 1312 South Sangre Road, Stillwater, OK 74074-1899 Phone: (405) 377-3333 Internet: www.meridiantechnology.com./Home_Nav3.asp Focuses on entrepreneurs, early-stage technology companies, service companies and companies seeking to commercialize new products • Oregon Innovation Center, P.O Box 1510, Redmond, OR 97756 Phone: (541) 504-2929 Internet: www.innovationcenter.org Focuses on technology-based start-ups • Ben Franklin Technology Partners, 200 N Third Street, Suite 400, Harrisburg, PA 17101 Phone: (717) 234-1748 Internet: www.net.bfp.org This organization has four centers around the state • University City Science Center, 3624 Market Street, Philadelphia, PA 19104 Phone: (215)387-2255 Internet: www.ucsc.org • West Philadelphia Enterprise Center, 4548 Market Street, Philadelphia, PA 19139 Phone: (215) 895-4000 Focuses on small businesses and urban entrepreneurs Appendix G • Centre County Business Incubator Program, 200 Innovation Blvd., Suite 201, State College, PA 16803 Phone: (814) 234-1829 Internet: www.cbicc.org • William C Goodridge Business Resource Center, 140 Roosevelt Avenue, York, PA 17404 Phone: (717) 852-0408 Internet: www.starinc.com/goodridge • Technology 2020 Business Incubation Program, 1020 Commerce Park Dr., Oak Ridge, TN 37830 Phone: (865) 220-2020 Internet: www.tech2020.org • Austin Technology Incubator, 3925 West Braker Lane, Austin, TX 78759 Phone: (512) 305-0000 Internet: www.ic2-ati.org • Software Commercialization and Innovation Center, Bryan, TX Phone: (409) 775-9173 Internet: www.scic.org • Fort Worth MedTech Center, 1606 Mistletoe Boulevard, Fort Worth, TX 76104 Phone: (817) 921-2205 Internet: www.medtech.org Focuses on medical and high technology start-ups • NetStrategy Focuses on Internet start-ups Internet: www.netstrategycorp.com/default.asp • Waco Business Resource Center, 401 Franklin, Waco, TX 76707 Phone: (254) 754-8898 Internet: www.brc-waco.com • Hampton Roads Technology Incubator, 24 Research Drive, Hampton, VA 23666 Phone: (757) 865-2141 Internet: www.hrincubator.org • Virginia Biotechnology Research Park, 800 East Leigh Street, Richmond, VA 23219 Phone: (804) 828-5390 Internet: www.vabiotech.com • New Century Venture Center, 1354 Eighth Street, SW, Roanoke, VA 24015 Phone: (540) 344-6402 Internet: www.ncvc.com • Applied Process Engineering Laboratory, 350 Hills Street, Suite #101, Richland, WA 99352 Phone: (509) 372-5146 Internet: www.apel.org 301 How to Start a Business for Free 302 • Tri-Cities Enterprise Association, 2000 Logston Boulevard, Richland, WA 99352 Phone: (509) 375-3268 Internet: www.owt.com/tea • Unlimited Future, Inc., 1650 Eighth Avenue, Huntington, WV 25713 Phone: (304) 697-3007 Internet: www.unlimitedfuture.org • Madison Enterprise Center, 100 South Baldwin St., Madison, WI 53703 Phone: (608) 256-6565 Internet: www.cwd.org/mec/ index.html Focuses on new and expanding light industrial businesses • Superior Business Center, 1423 North 8th Street, Superior, WI 54880 Internet: www.superbus.com • The Laramie County Enterprise Center, 1400 East College Drive, Cheyenne, WY 82007-3298 Phone: (307) 778-1299 Internet: www.lccc.cc.wy.us/cebd/index.htm Index Index accounts receivable 104-105, 109 actor 13, 17, 19, 47, 50, 57-58, 62, 65 advertising 10-13, 44, 48, 57, 60, 138, 141-142, 164, 208, 219, 221-222, 224, 231, 235, 241-242, 245-246, 251 advertising campaign 13, 219 angel funding 99, 101, 131-132, 134 artist/craftsperson 20 arts and crafts instructor 31 arts incubators 189 babysitter/childcare 18 budget notebook 161-163, 165 building permits 79 business description 140, 146 business incubators 156, 187-189 business license 13, 76-80, 82 business management 150 business plan 6, 9, 26, 106, 114, 128, 132, 135, 137-140, 146, 148-154, 156, 160, 162, 169-170, 208, 240 software programs 153 business services 14, 35, 38, 76-77, 169, 188, 190 business structure 9, 67-68, 72-73, 75-76, 146 calligrapher 34 capital 7-9, 11-12, 16, 40, 51, 56, 67, 69, 99-109, 127-129, 131, 133-136, 138, 143, 155, 166, 170, 178, 180, 191-192 cash flow 24, 45, 101, 113, 138, 150, 166, 251 303 How to Start a Business for Free catering/personal chef 19 census data 52-53 closed (Subchapter S) corporation 68 commercial banks 102 commercial finance companies 102 communications consultant 25-26 competition 31, 47- 51, 54-57, 209, 248 computer consultant 39 consulting services 13, 24, 155 consumers’ habits 61 corporations 21, 25-26, 28-29, 72-74, 81, 182, 199, 218 creative services 14 creditor 70 custom clothing 41 customers 14, 34, 40, 42, 45, 47-51, 55, 57-58, 60-63, 65-66, 104, 127, 141, 143-144, 147, 149, 162, 172, 174, 177, 181, 184, 187, 202, 207-209, 211, 217-218, 220-221, 223, 225-226, 230-231, 241-243, 245-246, 248-249 customer feedback 241, 248 customer lists 13 customer research 47, 57 debt 70-72 demographic data 59 discount office supplies 196 diversity trainer 27-28 dog walker 14 domain names 142, 209-212, 214-215 e-commerce business solution providers 219 economic census 52 e-mail campaigns 231 e-mail lists 235-236 employer identification numbers 81 employment laws 87, 91 equity 54, 69, 74, 103-106, 109, 111, 136 equity capital 103-106, 109 etiquette consultant 32 executive suites 186 executive summary 128, 132, 139-141, 150 exit strategy 139, 150 304 Index expense budgeting 163 e-zines and newsletters 237 financial planner 37-38 financial statement 101, 110, 139, 166 financing 17, 45, 69, 100-107, 109, 111-115, 126, 132, 135-136, 139-140, 155, 168, 187, 195, 205-206, 238 foundations 26, 125 free business information 52 free business plans on the Internet 152 free computer equipment 199, 201 free Internet Service Providers 234 free laser printers 200 free software 200 freelance writer 21-23 fundraising 11, 25-27 furniture leasing 195-196 grants 21, 28, 82, 115-116, 118-120, 122-126, 134, 141, 155, 166 graphic designer 22 greeting cards/stationary 41 growing herbs and vegetables 42 growth capital 103, 105 habits 61 hiring and firing 87-88 home office 172-179, 193-195, 197, 240 house sitter 15 human resources 87, 98 insurance companies 64, 102 international trade loans 114 Internet 5, 13, 16, 28, 39, 41, 43-44, 53, 58, 61, 63, 75, 77, 95, 114, 124, 127, 129, 136, 141-143, 147, 152, 155-159, 166, 168, 173, 187, 192, 198, 202-203, 205, 207, 210213, 218-219, 221, 224, 227-235, 237-240, 242-243, 246, 248, 251-252 Internet Service Provider (ISP) 234, 242 Internet store hosting 229-230, 233 inventory 33, 104, 109, 113, 127, 193, 197, 233, 246 labor laws 92 leasing office space 179-180, 187 305 How to Start a Business for Free lending institutions 105 liability 19, 30, 67-70, 74, 90, 133, 164 liability insurance 69-70, 90, 164 license and registration 10, 76 limited liability company (LLC) 68, 74, 133 limited partnership 68, 72, 134 literary or talent agent 28 loan 9, 69, 73, 99-102, 104-105, 109-114, 121, 123, 125, 130, 134-136, 150, 152, 166, 187, 204 management consultant 24 market research 47, 49-51, 59, 61, 150 marketing 9, 14, 16, 19, 25-27, 31-32, 40, 47-48, 50-52, 54, 60-61, 65, 105, 115, 138143, 147-148, 153, 162-165, 169-170, 183, 188, 207, 209, 231, 237-240, 246-248 marketing your Web site 240 medical or legal transcriptionist 38 mentoring 7, 126, 154-160, 179, 187, 190-191, 228 message boards 63, 65, 238-239, 251 mission statement 74, 140, 143-145, 161 motivational speaker 9, 23 networking 10, 26, 38, 48, 63-65, 154, 158-160, 183-184, 228 networking for free 63 networking for women 63 networking resources 10 newsletters 13, 17, 34, 36, 142, 237, 245-246 non-profit entrepreneurial funds 130 office equipment 108, 187, 191, 197 office furniture 191, 193, 195-196 office lighting 175 office location 33, 172 office supplies 162, 165-166, 193, 196, 198 open corporation 68, 74 operations 70, 72, 100, 103, 119, 137-138, 145, 160, 225, 248 overhead expenses 162, 164-165 partnership 68-72, 74, 76-77, 81, 117, 121, 134, 157, 233 patents 81-82, 84-86, 150 pension funds 102 306 Index performing arts teacher 30 personal move coordinator 17 personal services 13 personal shopper/errand runner 17 pet sitter 14 photographer 20, 23-24, 33 political consultant 25 private foundations 125 product development 9, 47, 51, 62, 138 product-based businesses 12-13, 40 professional organizer 16-17 proposal and grant writer 28 sales 6, 8-9, 14, 24, 28, 44, 47, 50-52, 54, 57, 65, 100, 104, 107-109, 111-112, 124-125, 129, 138, 140-142, 147, 150, 160-165, 175, 188, 192, 209, 216, 232-233, 238, 241, 244, 247-248 sales and marketing expense 162, 165 search engines 221, 232, 241-243 service-based businesses (service-oriented businesses) 12-14, 16, 39-40, 51 sharing office space 183-184 singer 20-21 software 13, 22, 36-38, 59, 123, 129, 152-153, 169, 191, 196, 199-201, 217, 219, 223, 231, 235, 242, 244 sole proprietorship 68-70, 72, 76-77, 134, 166 specialty food products 41 stock 42, 69, 72-74, 102, 105-106, 117, 191 subletting 179, 185-186 tax preparer 35-36 taxes 35-37, 44, 47, 68, 70, 72-73, 81, 88, 100, 162, 164-166, 177-178, 238 trademark 13, 66, 81-82, 84, 86 training services 14 translator 38 tutor 29-30, 47 utility bills 202, 204-205 venture capital (VC) 8-9, 51, 99, 101-103, 109, 114-115, 125-129, 131, 135-136, 155, 170, 248 virtual incubator 228 vision statement 140, 143, 145 307 How to Start a Business for Free Web site 17, 23, 25, 36, 39, 43, 55, 58, 60, 63-65, 75, 77, 86, 88, 92-95, 121-126, 129, 132, 141-142, 152, 155, 157, 166, 168, 200-201, 207-210, 212-213, 216-227, 230, 233, 234-235, 240-249 wedding/party planner 33 working capital 100, 103-105, 109, 113 writer/editor 21 308 ... Business for Free ensure that they are able to retire comfortably As a financial planner, you can work with individuals, families and small businesses to analyze, set and achieve financial goals If... florists and car/limo rentals to bridal shops, venues, nail/hair salons and party rentals suppliers Start by informing potential referrals about your business and ask them to send you ma33 How to Start. .. money to hire a larger agency with its attendant cost 25 How to Start a Business for Free As a communications consultant, you can offer counseling or coaching for the senior management of an organization