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    How to Succeed With Your Great Business Idea: A Smart Strategy Book for Entrepreneurs
    How to Succeed With Your Great Business Idea: A Smart Strategy Book for Entrepreneurs
    How to Succeed With Your Great Business Idea: A Smart Strategy Book for Entrepreneurs
    Ebook141 pages2 hours

    How to Succeed With Your Great Business Idea: A Smart Strategy Book for Entrepreneurs

    By Doug Hickok

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    About this ebook

    This is the book for everyone who has a great business idea and wonders what to do with it. Should you act on it and start a business or not? If so, how? Read this book for a step-by-step guide about what to do (or not do) about your business idea.

    If you decide to follow through and open a business based on your idea, you will have already learned a lot after reading this book about what your next steps are. If you decide not to go ahead with it, you will have saved yourself lots of time, effort and money by knowing early on that it's not right for you.

    Either way, you win. You get off the fence with that idea, and you have peace of mind about whatever you choose to do with it.

    What Readers Say:

    "This book is a 'must read' for anyone considering starting a business; it will give you a good idea of what it will take to make your business dream work. It's also a really fun read.

    As an entrepreneur for forty years, I wish I had this information prior to starting my own business. It surely would have saved me lots of time and money."

    Sue B.
    Golden, Colorado

    "This is an extremely valuable book that walks people through all the things they need to consider when evaluating whether to take their great idea for a business into the real world.

    The breadth of Hickok's knowledge is evident in every chapter of the book, which covers how to turn your business idea into an actual business, common mistakes to avoid when starting a business, and how to effectively market and sell what you offer so you make decent money.

    He also has a no-nonsense yet friendly writing style that makes for an extremely enjoyable reads like having a very smart best buddy who's cheering you on while also looking out for your best interests."

    KF
    Amazon Review

    "I can't praise your book enough. I found it to be clear, well written, well organized and very instructive. It helped me affirm both my decision to create my business and the strengths I bring to the table."

    Yvonne C.
    Richmond, Virginia

    LanguageEnglish
    PublisherDoug Hickok
    Release dateMay 14, 2015
    ISBN9780986234712
    How to Succeed With Your Great Business Idea: A Smart Strategy Book for Entrepreneurs
    Author

    Doug Hickok

    Doug Hickok has been an entrepreneur for most of his working life, but he started out with a full-time job. When he realized that he no longer enjoyed being employed by others he quit and decided to start his own business. That business failed, and so did the second one. it took a while for him to learn enough to start having some success. Three of the biggest things Doug learned about owning a business were: 1. Winging it without a plan doesn't work 2. Dealing with employees is the hardest part of it 3. You need to know a fair amount about what business is and how it works before you can run one right Today Doug Hickok is an an Executive Coach, and his company–Smart Strategy Consulting–works with other entrepreneurial companies to develop the leadership skills of their top people. Doug has a background in psychology and organizational development, and he is committed to help his clients to acquire excellent people skills to match their already-formidable business skills. He also teaches business management classes sometimes at the University of Richmond Robins School of Business in Richmond, Virginia. Doug lives with his wife Betsy in Annapolis, Maryland.

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      Book preview

      How to Succeed With Your Great Business Idea - Doug Hickok

      Introduction

      You have a great new business idea, something so perfect for you that it lights you up and puts a grin on your face.

      Your idea is compelling, a dream that could set you free in many ways. This is big, isn’t it? This could put you in control of your time, your choices, your future, and your life.

      So, what happens next?

      Do you know what to do with this idea, how to translate it into a successful business?

      Many people think the first step toward starting a new business is to immediately get ready to open one, but it’s not. You need to know a lot more before you open your doors. Otherwise, the foundation of your business will be weak, leading to various ongoing problems over time that will keep eating at your business like termites in a tree.

      How do you set it up? What are the right steps? How much money will you need?

      Do you know whether your idea will work? Can it give you a stable life and the rewards you desire?

      How will you gain enough confidence in this idea that you can move forward with it clearly and strongly?

      When you read this book, you will come to know the answers to all these questions, plus many more that you haven’t even thought of yet.

      You will also know the worth of your idea, both to you and in the marketplace where you will sell it.

      Most importantly, you will have a more accurate picture of what you are getting into, and once you do act, you’ll know what you’re doing.

      Dance instructors sometimes place cut-outs of steps on the floors of their studios to help students learn a particular dance step sequence. This book will give you steps on the floor to follow as you explore what your business idea would look like in action, and what it would need to be stable and successful.

      So here’s to you and your great business idea! How wonderful that it has arrived. Before you act, take time to learn about it, poke it and prod it, and develop the concept. Then, once it feels right, you’ll be prepared to go for it.

      Master Goal: Prepare to turn your great idea into an actual business.

      Keyword: Learn

      Inside Priority: Get clear before you act

      Outside Priority: Do your research

      Biggest Challenge: Boiling down all the possibilities into a single clear focus

      Strengths at this stage: Ideas, energy, passion, enthusiasm

      Possible weaknesses at this stage: Limited business experience or skills, being swept off your feet by the excitement of it all, difficulty staying focused, impatience, impulsivity, and acting prematurely

      Smartest thing you need to do: Leverage the resources, skills, experience, and knowledge of others whenever possible

      At this stage your business is: A galaxy of ideas whirling around inside your head

      At this time you are: Pumped

      Worst thing you'd never do: Start your business without preparing well for it

      Your mantra at this stage: Slow down and do it right!

      How to Succeed

      With Your

      Great Business Idea

      Smart Strategies

      for Entrepreneurs

      By Doug Hickok

      Table of Contents

      Introduction

      This book is about how to decide whether to turn your Great Business Idea into a real business.

      Topics

      The Seven Steps to an Entrepreneur’s Business

      Your path to success, one step after another.

      Start Your Own Business?

      Your business starts inside of you with dreams and plans in your head and your heart.

      The False Line Between Business and Personal

      That dividing line is not always a good thing.

      What's the Big Idea?

      Guess where great business ideas come from?

      But First, the Real Meaning of Money

      It's not what you think it is.

      How Ideas Turn into Money

      Here’s what you have to do.

      Why Money Isn't Everything

      There's a lot going on that feeds a need for money.

      How Your Beliefs About Money Make You Rich or Poor

      A couple of beliefs can ruin your entire money life, or make it hum.

      How You Can Change Beliefs That Are Stopping You

      Change your beliefs? Here's how to do it.

      Why Money Is Everything

      Sometimes in business, cash is king.

      So You Want to Be an Entrepreneur

      Are you qualified to do that?

      Just Plan Confusing

      Starting a business without a plan is risky, but what kind of plan do you need?

      Getting Rid of the Boss? Not So Fast

      Liberation has its trade-offs.

      Falling in Love with Your Big Idea

      Love is grand, but it can also lead you astray.

      The Business Part of Owning a Business

      You have to know some business before your dream can happen.

      The Mixed Blessings of Business Partnerships

      They can make you, and they can break you.

      Why Partnering with Family and Friends Can Be Trouble

      Watch relationships collide! Never speak to each other again!

      Strategic Partners Are Money in the Bank

      Multiply your sales through business-to-business referrals.

      How Do You Know That Your Great Idea Will Work?

      Start by specializing in something.

      The Best Way to Stand Out Over the Competition

      This has to happen for you to succeed.

      What Is Your Market?

      It takes three things to define your market.

      Market Research—Not as Boring as It Sounds

      How does what you offer fit into the marketplace?

      What Is Your Compelling Value Proposition?

      Why will people choose to buy from you instead of someone else?

      Who Is Going to Sell What Must Be Sold?

      You don't have a business unless you sell something.

      Can You Make a Living That Meets Your Income and Lifestyle Needs?

      Too many businesses struggle. Here's how you can avoid that.

      What Do You Bring to the Table?

      It turns out you have a lot of success factors already in place.

      Don't Get Killed by the Internet

      The World Wide Web presents a huge opportunity, and it is also a business killer.

      How to Pass the Technology Test

      The digital technology revolution: love it or get left in the dust.

      Who Is Along for the Ride?

      Nobody builds a business alone. Who is there (or not there) for you?

      It’s Time for Action

      You know which way to go. Really, you do.

      A Word About Fear

      It's not fun when you feel it, but it has a positive purpose.

      Go for It—Yes or No?

      How will you make this decision?

      Congratulations! Now What?

      Now that you are going to start your business, here’s what comes next.

      What to Do

      With Your

      Great Business Idea

      Smart Strategies

      for Entrepreneurs

      By Doug Hickok

      The Seven Steps of an Entrepreneur's Business

      Entrepreneurs do not have much time to read big books. They usually read things that are useful and get to the point quickly because they are really busy. If you are thinking of becoming an entrepreneur, you probably fit this mold, and that is why this book is practical and short.

      The question that comes up at some point for every would-be entrepreneur is this: I have a really great business idea, but if I invest all the time, money, and risk that are needed to make an actual business out of it, will it succeed?

      This book gives you a process to look at your business idea and get a good sense of what it would take to bring it to life as an operating company.

      By the time you finish the book, you will be clear about how you want to proceed in that direction.

      This book was born out of my experience as an executive coach. I work with entrepreneurial leaders of small companies (fewer than 250 employees) every day, assisting them with support and structure so they can build the businesses they want and live the lives they want to live.

      I have watched the evolution of these entrepreneurs and their successful businesses close-up over time, and I've noticed that there is a repeating progression to healthy business growth, a discernable series of steps that successful owners take as they start, operate, and grow those businesses.

      Many entrepreneurs are not aware of the existence or continuity of those steps—seven of them—and as a result, their business growth journey is likely to have a lot of unnecessary ups and downs in it.

      Wouldn't it be nice to know what you need to be doing at each step along the way—exactly what will shape your company to become what you want it to be?

      Here are the seven steps.

      Step One:

      The Idea (What to do with your great business idea?)

      Biggest challenge: Getting all relevant information so you can decide whether or not this idea will work as a real business if you do it

      Step Two:

      Startup (Setting up and opening your business)

      Biggest challenge: Inadequate planning and preparation

      Step Three:

      Viability (Ongoing survival)

      Biggest challenge: Making ongoing sales to support basic expenses and needs

      Step Four:

      Targeted Growth (Grow to thrive)

      Biggest challenge: Coordinating all parts of your business so they grow together

      Step Five:

      Real Business (Owner independence)

      Biggest

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