MINDING MY OWN BUSINESS: Entrepreneurial Women Share Their Secrets for Success by Marjorie & Julia F. Craig McVicar
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MINDING MY OWN BUSINESS: Entrepreneurial Women Share Their Secrets for Success

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KIRKUS REVIEW

Forget the feminist slant--this is one of the most comprehensive and accessible guides to starting and nurturing a small business to come along in recent (or not-so-recent) times. The authors survey opportunities in retailing (including such variations as taverns--plus franchise, door-to-door, and mail-order ventures); in services(catering, day-care centers, freelance typing, home remodeling, etc.); and in manufacturing (primarily, clothing, handicrafts, and household goods). They never overstate the case, paying as much attention to the risks as to the rewards of proprietorship. Drawing on interviews with more than 200 women (mostly in the Pacific Northwest) who have achieved varying degrees of commercial success, McVicar and Craig first review pre-plunge preparations: acquiring experience in, say, a book store or other target enterprise; analyzing one's capacity to go it alone; defining and setting realistic goals; and committing business plans to paper for the benefit of potential lenders as well as the fledgling firm. Less financial detail is offered than in Brian Smith's How to Prosper in Your Own Business (1980, p. 1507); but the material on budgeting, cash-flow bookkeeping, and taxes will serve beginners adequately and well. Note is taken, for instance, of the advantages of paying employees on a contract (i.e., piecework) basis (since basic wage/salary expenses are subject to surcharges which can range up to 60 percent); step-by-step instructions are provided for pricing profitably, monitoring inventory turnover, and determining the need for EDP services. Also on the docket are such diverse topics as insurance protection for various kinds of concerns (in particular, service ventures which typically need large amounts of liability coverage) and low-cost marketing--e.g., via direct-mail campaigns, or at local trade shows and crafts fairs. An eminently practical manual--in a class with Albert Lowry's How to Become Financially Successful by Owning Your Own Business (1980, p. 1557) and, because of its greater focus on types of opportunities, actually complementary to it.

Pub Date: June 30th, 1981
Publisher: Marek--dist. by Putnam