FM_1 07/22/2008 4 FM_1 07/22/2008 1 PraiseforTheSmallBusinessBible,SecondEdition ‘‘The Small Business Bible, Second Edition is packed with extensive, relevant information for today’s entrepreneurs. Steve has provided a comprehensive look at every facet of small business, including up-to- dateresearchontechnology,e-commerce,andothergrowthstrategies. Rule#1for every successfulentrepreneur istoputthis book on the shelf!’’ —PhilTown,authorofthe#1 NewYorkTimesbestseller,Rule#1 ‘‘Excellent!Nothingwasleftoutofthisdefinitiveguideonhowtostart and build a successful small business. Whether you are brand-new to smallbusinessoraseasonedentrepreneur,youcanlearnsomethingfrom thisbook!’’ —HectorBarreto FormerAdministratorofthe SmallBusinessAdministration andChairmanofTheLatinoCoalition ‘‘Youmightreadthisbookonce,butyouwillrefertoitforyearstocome! Stevehasdoneawonderfuljoblayingoutwhatmightotherwisebedry information in an easy-to-understand, lively format. Whatever your business, there is no shortage of actionable, useful ideas in this great book.’’ —BarbaraCorcoran,founder ofTheCorcoranGroup andTodayShowcontributor ‘‘As the former president of three fast-growth companies, I’ve learned what it takes to start and grow a small business. Steve Strauss’s Small Business Bible, Second Edition helps you understand what works and avoid what could be lessons learned the hard way. Whether you are startingorgrowingyourbusiness,TheSmallBusinessBible,Second Editionishighlyrecommended!’’ —SteveLittle TheBusinessGrowthExpert andauthorofThe7IrrefutableRules ofSmallBusinessGrowth andTheMilkshakeMoment FM_1 07/22/2008 2 ‘‘Strauss has revamped his classic book with cutting-edge content— from how to green your business to utilizing technology to your advantage.Thisisatimely,practical,andreadableresource.’’ —KenYancey CEO,SCORE ‘‘TheSmallBusinessBible,SecondEditionisrequiredreadingforany business owner looking to do things quicker and better. It provides straightforward advice and profitable information for both the startup entrepreneurandtheseasonedmanager.’’ —GeneMarks,editorofthe#1 Amazon.comsmallbusinessbestseller TheStreetwiseBookofLists ‘‘WheneverStevehasappearedonourshow,hehasprovenhimselftobea knowledgeable,entertaining,lively,smartguest!Hisbookhasservedasa great resource and I highly recommend this great compendium for anyoneinthebusinessofsmallbusiness.’’ —J.J.Ramberg,hostofMSNBC’s smallbusinessshow,YourBusiness FM_1 07/22/2008 3 THE SMALL BUSINESS BIBLE FM_1 07/22/2008 4 FM_1 07/22/2008 5 THE SMALL BUSINESS BIBLE S E C O N D E D I T I O N E VERYTHING Y N K OU EED TO NOW S TO UCCEED IN Y S B OUR MALL USINESS Steven D. Strauss J W & S , I . OHN ILEY ONS NC FM_1 07/22/2008 6 Copyright (cid:2)c 2008bySteven D.Strauss. Allrights reserved Publishedby JohnWiley &Sons,Inc., Hoboken,New Jersey Publishedsimultaneously inCanada Nopart ofthispublication may bereproduced, stored ina retrievalsystem,or transmitted inany formor byany means,electronic, mechanical, photocopying, recording,scanning,orotherwise,exceptaspermittedunderSection107or108ofthe 1976UnitedStates CopyrightAct, withouteither the priorwritten permission ofthe Publisher, orauthorization throughpayment oftheappropriate per-copyfee tothe CopyrightClearance Center,Inc., 222RosewoodDrive,Danvers, MA01923, (978) 750-8400,fax(978) 646-8600,oron theweb at www.copyright.com. Requests tothe Publisher for permissionshouldbeaddressed to thePermissions Department, John Wiley&Sons, Inc.,111River Street,Hoboken, NJ 07030,(201) 748-6011,fax(201) 748-6008,oronline athttp://www.wiley.com/go/permissions. LimitofLiability/DisclaimerofWarranty:Whilethepublisherandauthorhaveused theirbesteffortsinpreparingthisbook,theymakenorepresentationsorwarrantieswith respecttotheaccuracyorcompletenessofthecontentsofthisbookandspecifically disclaimanyimpliedwarrantiesofmerchantabilityorfitnessforaparticularpurpose.No warrantymaybecreatedorextendedbysalesrepresentativesorwrittensalesmaterials. Theadviceandstrategiescontainedhereinmaynotbesuitableforyoursituation.You shouldconsultwithaprofessionalwhereappropriate.Neitherthepublishernorauthor shallbeliableforanylossofprofitoranyothercommercialdamages,includingbutnot limitedtospecial,incidental,consequential,orotherdamages. Forgeneral information onour other products andservices orfor technical support, pleasecontactourCustomerCareDepartmentwithintheUnitedStatesat(800)762- 2974,outside the UnitedStates at (317) 572-3993or fax(317)572-4002. Wileyalsopublishes itsbooks ina variety ofelectronicformats. Some content that appearsinprintmaynotbeavailableinelectronicbooks.Formoreinformationabout Wileyproducts, visit our web siteat www.wiley.com. Library ofCongress Cataloging-in-Publication Data: Strauss, StevenD., 1958– Thesmall businessbible:everything you needtoknow tosucceed inyour small business/SteveD. Strauss. –2nd ed. p. cm. Includes bibliographical references and index. ISBN978-0-470-26124-8 (pbk.) 1. Small business–UnitedStates–Management. 2. Small business–United States–Finance. 3. Newbusiness enterprises–United States. I. Title. HD62.7.S875 2008 658.0202–dc22 2008012277 Printedin theUnited States ofAmerica 10 9 8 7 6 5 4 3 2 1 FM_1 07/22/2008 7 For my mom and dad, and my third parent, Seymour FM_1 07/22/2008 8