1. CHAPTER 12 MANAGING A SMALL BUSINESS

2. IDENTIFYING THE SMALL- BUSINESS OWNER FEWER THAN HALF OF ALL NEW BUSINESSES SURVIVE NEED SELF-MOTIVATION NEED PERSISTENCE NEED TO BE A RISK TAKER

3. WHO OWNS A SMALL BUSINESS TODAY OWNERS ARE MORE EDUCATED YOUNGER MORE MINORITIES MORE WOMEN ARE STARTING UP THEIR OWN BUSINESSES

4. STARTING A SMALL BUSINESS IDEA PLUS BUSINESS EXPERIENCE HOBBIES

5. PREPARATION AND RESEARCH HAVE ADEQUATE INFORMATION TO MAKE GOOD BUSINESS DECISIONS INFORMATION NEEDED ABOUT CUSTOMERS, COMPETITORS, GOVERNMENT, AND PERFORMANCE OF BUSINESS

6. DEVELOPING A BUSINESS PLAN OWNERS OF SUCCESSFUL BUSINESSES DEVELOPED A PLAN AND FOLLOWED IT A WRITTEN DESCRIPTION OF THE BUSINESS IDEA AND THE BUSINESS ACTIVITIES THAT NEED TO BE DONE TO CARRY IT OUT FIGURE 12-1 BUSINESS PLAN ELEMENTS

7. FINANCING A SMALL BUSINESS TYPES OF FINANCING –START-UP FINANCING: MONEY NEEDED TO OPEN THE BUSINESS –SHORT-TERM FINANCING: MONEY NEEDED TO PAY CURRENT OPERATING ACTIVITIES –LONG-TERM FINANCING: MONEY NEEDED FOR IMPORTANT RESOURCES THAT WILL LAST FOR MANY YEARS

8. SOURCES OF FINANCING OWNER’S PERSONAL INVESTMENT BORROWED FUNDS SELL SHARES OF STOCK SEEK PRIVATE INVESTORS

9. ACTIVITIES ANALYZING PERSONAL QUALITIES: PAGE 63 OF ACTIVITIES WORKBOOK; CAN YOU BE A SUCCESSFUL BUSINESS OWNER? WEBSITE ACTIVITY: FIND SITES THAT HELP YOU DEVELPOP A BUSINESS PLAN