Most people who start businesses do so with little or no experience and no formal education in business or management training. If this sounds familiar, this book has been written expressly for you and anyone who aspires to create a business. This book fills some critical gaps in managerial knowledge that cause many of the problems that small business owners face as they try to navigate the business world with inadequate knowledge of how to manage a business. Inside, you will learn five core topics that will make the difference between success and failure: strategic planning, financing, marketing, managing cash flow, and managing costs. This book also incorporates three topics that are very important to small businesses: break-even analysis, legal business structures, and intellectual property protection.

Pat Roberson-Saunders has a PhD from the University of Maryland, College Park, and is a Professor Emerita of Management and Entrepreneurship at the Howard University School of Business.

List of Figures.........................................................................................xi List of Tables.........................................................................................xiii Preface.................................................................................................. xv Acknowledgments................................................................................. xvii Chapter 1 Introduction.....................................................................1 Chapter 2 Strategic Planning...........................................................11 Chapter 3 Financing........................................................................49 Chapter 4 Marketing.......................................................................79 Chapter 5 Managing Cash Flow....................................................105 Chapter 6 Managing Costs............................................................125 Appendix A Break-even Analysis........................................................145 Appendix B Legal Business Structures.................................................151 Appendix C Intellectual Property Protection.......................................159 Notes..................................................................................................167 References............................................................................................177 Index..................................................................................................185