The Entrepreneur's Toolkit

Add two important skills to your entrepreneurial toolkit: writing a theory of business and building a prototype. By following these two actions, you'll be able to refine your business idea, demonstrate that it's possible to achieve, and show that your idea delivers what your customers want.

You are now ready to confront the most crucial question of all: how will your company make money? Learn how to answer this question with confidence by preparing a business model that addresses six issues - from how you will differ from your competitors to what you will do to ensure repeat customers.

Survey your options for a legal structure that is appropriate to your business. Learn about the advantages and disadvantages of a sole proprietorship, partnership, limited liability partnership, limited liability company, corporation, and nonprofit corporation.