There are plenty of books out there about finding ideas for your own business, but Brian Roueiheb, in his book, The Budget Entrepreneur: Starting Your Own Business Without Breakingthe Bank, offers a specific business niche: how to start your own business without breaking the bank.
Roueiheb has run a marketing and consulting firm for the lasts 12 years, and as part of that business, he has coached several small businesses through the start-up process. One client suggested Roueiheb write a book on this topic, and so he did. Roueiheb’s goal (which he achieves) is to have the book walk readers through the step-by-step logistics of legally setting up a business without breaking the bank.
While the book is short, it’s packed with valuable information.
Chapter 1: Before You Start(up)
Roueiheb recommends that you create a business plan. His book doesn’t delve into that, nor is that his book’s goal. However, he strongly recommends creating one.
If you can’t do that immediately, he suggests the bare minimum you should do is create a mission statement and conduct some basic market research in the area your business will be operating in. He also provides detailed information about how to do the business research.
Chapter 2: Choosing a Business Entity Type
Roueiheb briefly covers each of the types of business structures available and then gives a surprising recommendation for which type most people should choose. For someone who is not familiar with the different structures and their tax ramifications, this chapter can be very useful.
Chapter 3: A Rose by Any Other Name (Requires a DBA)
If you want your business to have a name other than your own, you’ll need to file a DBA. Roueiheb reminds readers that this doesn’t have to be expensive and gives some money-saving techniques.
Chapter 4: Licensing, the Final Frontier
Depending on what your business does, you may need to obtain licensing. Roueiheb explains what businesses require licenses and how to get them.
Chapter 5: Bargain Business Banking
Having a business account can cost a small fortune every month. Roueiheb shares ways to save as well as taking the time to walk readers through the different banking/payment options they may need.
Chapter 6: Frugal Workspace
If you need to work outside your home, Roueiheb has a clever idea for saving money and avoiding exorbitant rental fees.
Chapter 7: Protecting Your Intellectual Property
Depending on what you want to protect, Roueiheb has suggestions for how to spend less, unless you will need a patent.
Chapter 8: Making Sales on a Budget
While you may think the Internet is the best bet for frugal advertising, Roueiheb disagrees. In fact, he has some fairly unconventional, low-cost methods for marketing businesses.
Chapter 9: Time to Grow!
Once your business grows, Roueiheb asks you to reconsider many of the steps you previously took to save money before your business was profitable. If you’re working as a sole proprietor, now is the time to consider changing to a business entity that will protect your assets. It is also likely time to secure your own office space.
Is This Book Right for You?
If you’re wondering how to register your business or what business entity to choose, you’ll likely benefit from this book. Roueiheb takes readers step-by-step through the logistics of setting up a business. If you follow just one of his money-saving strategies, you’ll easily recoup the $2.99 Kindle price or $9.95 paperback price of this book. (Note: This book is FREE to read with Kindle Unlimited.)