Entrepreneurship

Wikipedia: https://en.wikipedia.org/wiki/Entrepreneurship

• Books

  • The Personal MBA: Master the Art of Business

    http://personalmba.com/

    http://personalmba.com/best-business-books/

See also:

• Personal Finance

• Small Business Consulting

  • Solving

  • Business Modeling

    • ROI

  • Business Plans #

• Investing

SBA

Wikipedia: https://en.wikipedia.org/wiki/Small_Business_Administration

Homepage: https://www.sba.gov/

• https://www.sba.gov/starting-managing-business

• https://www.sba.gov/tools/local-assistance

• https://www.sba.gov/starting-business/how-start-business/business-data-statistics

Planning

Wikipedia: https://en.wikipedia.org/wiki/Planning

WikipediaCategory: https://en.wikipedia.org/wiki/Category:Planning

• https://en.wiktionary.org/wiki/best_laid_plans

See also:

• Business Plans (Pessimistic, Realistic, Optimistic)

• Business Strategies

• Scenarios

• Team Building > The same page

Plan for Failure

• https://en.wikipedia.org/wiki/Business_failure

• Many businesses fail.

  What is the survival rate for new businesses?

  About half of all new establishments survive five years or more and about one-third survive 10 years or more.

  —https://www.sba.gov/sites/default/files/FAQ_March_2014_0.pdf (p.1)

  • http://www.bls.gov/bdm/bdmage.htm

  • http://www.bls.gov/bdm/bdagefaq.htm#6

• Many businesses are not profitable in their first year(s) of operation.

Contingency plan

Wikipedia: https://en.wikipedia.org/wiki/Contingency_plan

• Business Continuity > Scenarios

Exit strategy

Wikipedia: https://en.wikipedia.org/wiki/Exit_strategy

• Cash out

• Sell to: A, B, or C

• Find an EXIT sign [“plan your route”]

Plan for Success

• Business Continuity

Mission Statement

• https://en.wikipedia.org/wiki/Mission_statement

Project

• https://en.wikipedia.org/wiki/Project

• https://en.wikipedia.org/wiki/Scope_(project_management)

Goal

Wikipedia: https://en.wikipedia.org/wiki/Goal

• https://en.wikipedia.org/wiki/Goal_setting

• https://en.wikipedia.org/wiki/SMART_criteria

Objective

Imagine Success

• https://en.wikipedia.org/wiki/Creative_visualization

• https://en.wikipedia.org/wiki/Guided_imagery

Start at the end

• https://en.wikipedia.org/wiki/Backward_induction

• https://en.wikipedia.org/wiki/Reverse_chronology

Profitability

Wikipedia: https://en.wikipedia.org/wiki/Profit_(accounting)

Wikipedia: https://en.wikipedia.org/wiki/Rate_of_profit

Investopedia: http://www.investopedia.com/terms/p/profitabilityratios.asp

Investopedia: http://www.investopedia.com/terms/r/reinvestment.asp

• Profit ~= Income = Revenue - Expenses (ROI)

• There is an incentive to re-invest revenue into the business.

• https://en.wikipedia.org/wiki/Break-even

• https://en.wikipedia.org/wiki/Customer_profitability (Smoothies)

• https://en.wikipedia.org/wiki/Profitability_index

USA Entrepreneurship

• Choosing a name

  • DNS availability

  • Search result count

  • (Multi-) state business name registration

  • https://www.sba.gov/starting-business/choose-register-your-business

  • “Trade Name”

  • Scope

• Market Share / Market Size

  • https://en.wikipedia.org/wiki/Market_(economics)#Size_parameters

  • https://en.wikipedia.org/wiki/Market_share

• Growth potential

  • number of customers

  • marginal customer value (see: Smoothies)

• Legal team factors to consider

  • Already-prepared, already-tested document library

  • Multi-state network

• Registering a business

  • State of incorporation

  • Types of business entity

Types of business entity

Wikipedia: https://en.wikipedia.org/wiki/Types_of_business_entity#United_States

No liability protection, no double-taxation (“pass-through taxation”):

• https://en.wikipedia.org/wiki/Types_of_business_entity#United_States

• https://en.wikipedia.org/wiki/Partnership_taxation_in_the_United_States

• https://en.wikipedia.org/wiki/Sole_proprietorship

• https://en.wikipedia.org/wiki/Partnership

Limited liability, no double-taxation (“pass-through taxation”):

• https://en.wikipedia.org/wiki/Limited_liability

• https://en.wikipedia.org/wiki/Limited_liability_partnership#United_States (“LLP”)

• https://en.wikipedia.org/wiki/Limited_liability_limited_partnership (“LLLP”)

• https://en.wikipedia.org/wiki/Limited_liability_company (“LLC”)

• https://en.wikipedia.org/wiki/Articles_of_organization

Types of corporations:

• https://en.wikipedia.org/wiki/Types_of_business_entity#United_States

• https://en.wikipedia.org/wiki/Nonprofit_organization

• https://en.wikipedia.org/wiki/For-profit_corporation

• https://en.wikipedia.org/wiki/Articles_of_Incorporation

• https://en.wikipedia.org/wiki/Stock_certificate

• https://en.wikipedia.org/wiki/Minutes

  • https://en.wikipedia.org/wiki/Agenda_(meeting)#Order_of_business

  • https://en.wikipedia.org/wiki/Robert%27s_Rules_of_Order

  • Digital Stand Up Meeting

• https://en.wikipedia.org/wiki/S_corporation

  • some LLCs and LLPs can be taxed as S corporations

  • closely held

  • pass-through income taxation (according to shareholder %)

  • no aliens allowed

  • one class of stock

  • health insurance benefits and HSAs must be included as W-2 wages if the shareholder holds greater than 2% of the outstanding shares

  • https://en.wikipedia.org/wiki/S_corporation#Qualification_for_S_corporation_status

• https://en.wikipedia.org/wiki/C_corporation

  • taxed separately (business income tax, payroll tax; and then income tax)

  • https://en.wikipedia.org/wiki/Corporate_tax_in_the_United_States#Tax_rates

    • https://www.irs.gov/pub/irs-pdf/i1120.pdf

      https://www.irs.gov/instructions/i1120/ch02.html#d0e2707

      (“Tax Rate Schedule” 2015 p.17 )

      • Corporate income tax rates (2015 Form 1120): 15-35% (*)

      • Personal Income tax rates (2015 Form 1040): 10-39.6% (*)

      >>> ((1.0 * (1-0.35)) * (1-0.396))
      0.3926
      >>> ((1.0 * (1-0.15)) * (1-0.10))
      0.765
      

See also:

• Information Systems > Accounting (* “Accountant”)

• Small Business Consulting > ROI

Economics

https://en.wikipedia.org/wiki/Microeconomics

• https://www.khanacademy.org/economics-finance-domain/microeconomics

https://en.wikipedia.org/wiki/Macroeconomics

• https://www.khanacademy.org/economics-finance-domain/macroeconomics

https://en.wikipedia.org/wiki/Venture_capital

• https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/venture-capital-and-capital-markets/v/raising-money-for-a-startup

See also:

• Investing > Financial Statement

• Investing > Capitalization table

• Investing > Equity