Background Information
Small Business Basics

(Last updated: May 9, 2014)

You can use the information from this Small Business Basics section to help you decide whether to start your own business venture. You also can review background information about business methods.

This information can help guide your business decisions and avoid common mishaps.

Here are the topics:

Should you start your own business?
Basic business methods and insights


Image courtesy of Stuart Miles /

It can be somewhat difficult to learn about new activities, such as business basics. I recommend that you merely scan through those subjects that interest you at first. Later you can study some or all of these matters in detail.

However, before talking to potential sources of business loans or other resources for your business, study every page in this section. You need to become well versed in business matters so these people will have confidence in you.

After you have reviewed the information in this Business Basics section, you may wish to explore other sections and individual pages in this website. See the overviews and links in the Overview of Main Pages.


Before using this information to start a business be sure to read the following notice: Disclaimer.

Should you start your own business?

This topic should help you decide about starting your own small business. Weigh the rewards and risks, and then decide.

Benefits and Risks -- This page describes both the benefits and risks of having a business. Forewarned is forearmed. This can help you maximize the benefits and minimize the risks.

Solving Common Business Problems -- Explains some common business problems and provides various ways to solve them.

Failures to Avoid -- Many small businesses fail within a few years. This page explains the reasons for these failures so you can avoid them.

Deciding to Start a Business -- Now you can decide whether to start your own business. This page guides you through the steps.

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Basic business methods and insights

This topic provides some useful methods and insights that can help your small business be a success.

Bootstrap Methods -- Shows how to save money when starting and running a small business.

Sales Methods -- Explains various ways of getting customers to buy your product (goods, services, or information).

Setting the Sales Price -- Shows how to calculate a suitable initial sales price for your services.

Preparing a Work Plan -- Shows how to prepare a work plan for a large or difficult task. It can be either a one-page summary or a detailed plan that explains all required action steps.

Rules for Success in Business -- Explains the seven rules that can help you be a success in business.

Time-Saving Tips -- Explains numerous ways to save time and accomplish tasks more effectively.

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