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Reach New Levels of Career Success Using the Power of Your Subconscious Mind

Joseph Murphy, Ph.D., D.D.

Compiled and edited by Arthur R. Pell, Ph.D .

I. Success in business Psychological aspects. 2. Success. 3. Attitude (Psychology).


Putting the Power of Your Subconscious Mind to Work- Reach New Levels of Career Success Using the Power of Your Subconscious Mind
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Book Details
 Price
 2.50
 Pages
 252 p
 File Size 
 25,101 KB
 File Type
 PDF format
 ISBN
 978-0-7352-0436-2
 Copyright©   
 2009 by Jean L. Murphy Trust

About the Author
Joseph Murphy, born on May 20, 1 898, in a small town in the
County of Cork, Ireland, was enrolled in the National School,
where he excelled. Encouraged to study for the priesthood, he was
accepted as a Jesuit seminarian.
However, by the time he reached his late teen years, he began to
question the Catholic orthodoxy of the Jesuits and he withdrew
from the seminary. As his goal was to explore new ideas and gain
new experiences, a goal he could not pursue in Catholic-dominated
• Ireland, he left his family to go to America.
He arrived at the Ellis Island Immigration Center with only five
dollars in his pocket. His first project was to find a place to live. He
was fortunate to locate a rooming house where he shared a room
with a pharmacist who worked in a local drugstore.
His knowledge of English was minimal as Gaelic was spoken
both in his home and at school, so like most Irish immigrants,
Murphy worked as a day laborer, earning enough to keep fed and housed.

He and his roommate became good friends, and when a job
opened up at the drugstore where his friend worked, he was hired
to be an assistant to the pharmacist. He immediately enrolled in a
school to study pharmacy, and qualified as a full-fledged pharmacist.
He eventually purchased the drugstore and for the next few
years ran a successful business.

When the United States entered World War II, Murphy enlisted
in the U.S. Army and was assigned to work as a pharmacist in a
medical unit. While in the Army, he renewed his interest in religion
and began to read extensively about various religious beliefs. After
his discharge, he chose not to return to his career in pharmacy. He
traveled extensively and took courses at several universities both in
the United States and abroad.
From his studies, he became enraptured by the various Asian
religions and went to India to learn about them in depth. He extended
his studies to the great philosophers from ancient times
until the present.

The one person who most influence􀅰 Murphy was Dr. Thomas
Troward, who was a judge as well as a philosopher, doctor, and
professor. Judge Troward became Joseph's mentor. From him he
not only learned philosophy, theology, and law but also was introduced
to mysticism and particularly to the Masonic .order. Murphy
became an active member of this order and over the years rose in
the Masonic ranks to the 32nd degree in the Scottish Rite. .
Upon his return to the United States, he chose to become a minister.
As his concept of Christianity was not traditional and indeed
ran counter to most of the Christian denominations, he founded
his own church in Los Angeles. He attracted a small number of ,
congregants, but it did not take long for his message of optimism
and hope to attract many men and women to his church .
Dr. Murphy was a proponent of the New Thought movement, •
which advocated combining a metaphysical, spiritual, and prag-
matic approach to the way we think and live, to uncover the secret
of attaining what we truly desire. We can do all these things
only as we have found the law and worked out the understanding
of the law, which God seemed to have written in riddles in the past.

Over the years other churches joined with Dr. Murphy in developing
an organization called the Divine Science Federation, which
acts as an umbrella for all Divine Science Churches.
Murphy's local Church of Divine Scienc.e grew so large that he
had to rent the Wilshire Ebell Theater, a former movie house. His
services were so well attended that even this venue could not always
accommodate all who wished to attend. To reach the vast
numbers of people who wanted to hear his message, Dr. Murphy
created a weekly radio talk show, which eventually reached an audience
of more than a million listeners.
He taped his lectures and radio programs, and the initial success
that he saw in marketing the cassettes started a new venture to
increase his outreach. The tapes featured lectures explaining biblical
texts and provided meditations and prayers for his listeners. He
also started to publish pamphlets and small books of his inspirational material.

As a result of his books, tapes, and radio broadcasts, Dr. Murphy's
reputation grew exponentially and he was invited to lecture
throughout the United States, Europe, and Asia. In addition to religious
matters, he spoke on the historical values of life, on the art of
wholesome living, and on the teachings of great philosophers from
both the Western and Asian cultures. In all his lectures, he emphasized
the importance of understanding the power of the subconscious
mind and the life-principles based on belief in the one God,
the "I AM."
He wrote more than thirty books. His most famous book, The
Power of the Unconscious Mind, first published in 1 963, became
an immediate bestseller. Millions of copies have been sold and
continue to be sold all over the world in a wide variety of languages
Dr. Murphy died in December 1 9 8 1 . His wife, Dr. Jean Murphy,
continued his ministry until her death.
....
About the Editor
This ,book was compiled and edited by Dr. Arthur R. Pell, author
of more than fifty books and hundreds of articles on management,
human relations, and self-improvement. In addition to his own
writings, Dr. Pell has edited and updated ma'ny of the classics on
human potential, including Dale Cart;legie's How to Win Friends
and Influence People, Napoleon Hill's Think and Grow Rich, Joseph
Murphy's The Power of ¥our Subconscious Mind, James Allen's As
a Man Thinketh, Yoritomo-Tashi's Common Sense, and works by
Orison Swett Marden, Julia Seton, and Wallace D. Wattles.

Introduction
Whatever your conscious mind assumes and believes to be true,
your subconscious mind wiLL accept and bring to pdss. Believe in
good fortune, divine guidance, right action, and aLL the blessings of
life. You are the captain of your soul (subconscious mind) and the
master of your fate. Remember, you have the capacity to'choose.
Choose life! Choose love! Choose health! Choose happiness!

Are you unhappy in your career? Is your advancement stymied by
ostensible lack of opportunity? Do you want to succeed in achiev-
ing your goals? You need not be restricted by a dogmatic boss or
bureaucratic red tape, or depend on luck or fortuity. You have the
power within you to take charge of your career.
All that we achieve as well as all that we fail to achieve is the direct
result of our owp thoughts. Our weaknesses and strengths, purity and
impurity, are ours alone. They can only be altered by US; never by another.
All our happiness and suffering are evolved from within. As we
think, so we are; as we continue to think, so we remain.

Of course, there are some things you cannot change: the movement
of planets, the change in seasons, the pull of the oceans and
tides, and the apparent rising and setting of the sun. But you can
change yourself. You can be transformed by the renewing of your
mind. This is the key to improving your career. Your mind is a recording
machine, and all the beliefs, impressions, opinions, and
ideas accepted by you consciously are impressed in your deeper,
subconscious mind. By learning how to channel your subconscious
mind, you can gain control over your career.
Yes, you have the power to change what is in your subconscious
mind. It starts by taking overt steps to absorb noble patterns
of thoughts. Think thoughts of beauty, love, peace, wisdom, and
creative ideas. Your subconscious mind will respond accordingly,
transforming your mentality, your body, and the circumstances
surrounding your life.

This is especially true when applied to advancing your career.
Too many people hinder their career growth by fear fear of displeasing
a boss, fear of rivals in their move up the career ladder,
fear of bureaucratic impasses. Yes, any or all of these fears can affect
your career, but only if you let them.
If you are confident in your own abilities and work effectively
in achieving company goals, you will engage the power of your
subconscious mind to overcome all obstacles.

When a large law firm hired Jules H., a bright young attorney,
he noticed that there were a dozen young attorneys competing
with him for advancement. They were all highly competent and
equally ambitious. He noted that most of these associates were
constantly complaining about the long hours doing routine detail
work instead of the more interesting legal.work they all desired . •
Jules, although equally frustrated, called on the power of his sub-
conscious mind and told himself: "Sure, this work is boring and
brain-numbing, but it's the dues I have to pay if I want to get
ahead. I will do this work, not just with my brain, but with my
heart. I'll deal with it j ust as I tackled my most challenging assignments
in law school." It didn't take long for his bosses to recognize
his superiority and to begin assigning him more important cases
and move him ahead of his rivals.

Psychologists and psychiatrists point out that when thoughts
are conveyed to your subconscious mind, impressions are made in •
the brain cells. As soon as your subconscious accepts any idea, it
proceeds to put it into effect immediately. It works by association
of ideas and uses every bit of knowledge that you have gathered in
your lifetime to bring about its purpose. It draws on the infinite
power, energy, and wisdom within you. It lines up all the laws of
nature to get its way. Sometimes it seems to bring about an immediate
solution to your difficulties, but at other times it may take
days, weeks, or longer.

Your subconscious mind is like the soil, which accepts any kind
I of idea good or bad. Your thoughts are active and might be likened
to seeds. Negative, destructive thoughts continue to work
negatively in your subconscious mind and in due time will evolve
into actions that correspond with them. Remember, your subconscious
mind does not engage in proving whether your thoughts 􀔘re
good or bad, true or false. But it responds according to the nature
of your thoughts or suggestions.

, For example, if you consciously assume something to be true,
even though it may be false, your subconscious mind will accept it
as true and proceed to bring about results that must necessarily
follow if it were true. Your subconscious mind cannot argue controversially.
Hence, if you give it wrong suggestions, it will accept
them as true and will pt;oceed to bring them to pass as conditions,
experience, and events. Your subconscious mind is often referred
to as your subjective mind. Your subjective mind takes cognizance
of its environment by means independent of the five senses.
Your subjective mind perceives by intuition. It is the seat of
your emotion and the storehouse of memory. Your subjective mind
performs its highest functions when the objective mind is suspended
or in a sleepy, drowsy state. Your subjective mind sees
without the use of the natural organs of vision. It has the capacity
of clairvoyance and clairaudience.

When your conscious and subconscious minds function harmoniously
and peacefully, the result is harmony, health, peace, joy,
and happiness. All the evil, pain, suffering, misery, war, crime, and
sickness in the world are due to the inharmonious relationship of
the conscious and subconscious mind. Remember, your subconscious
is impersonal and nonselective'.
The habitual thinking of your conscious mind establishes deep
grooves in your subconscious mind. This is very favorable for you
and your career if your habitual thoughts are' harmonious, peaceful,
and constructive.

On the other hand, if you have indulged in fear, wOIiry, and
other destructive forms of thinking, the remedy is to recognize the
omnipotence of your subconscious mind and decree freedom, happiness,
perfect health, and prosperity. Your subconscious mind,
being creative and one with your divine source, will proceed to create
the freedom and happiness that you have earnestly decreed.
Chance or accident are not responsible for the path your career
takes; nor is predestined fate the author of your fortune or misfortune.
Your subconscious mind is not concerned with the truth or
falsity of what you consciously feel or believe to be true. Select
only that which is true, lovely, noble, and Godlike; and your subconscious
will react accordingly.

Although philosophers, theo, logians, and thinkers throughout
the ages knew this, each generation must be reminded of this and
make it work for its members.

Dr. Joseph Murphy, in his bestselling book, The Power of Your
Subconscious Mind, and his subsequent writings synthesized this
concept. Thousands of men and women came to the sermons and
lectures he presented in dozens of countries, and millions listened
to his radio broadcasts.
Dr. Murphy converts these theories into practical approaches to
life. He provides a no-nonsense program that will teach you how
to stop condemning yourself. You will be shown that you can now
claim what you want to be. You can now possess what you long to
possess. You can now do what you long to do. You can live in that
mental atmosphere. It will gradually sink down by osmosis from
your conscious to your subconscious, gradually becoming a conviction
as you nourish it and sustain it. Then your limitations will
disintegrate and you will rise like the phoenix from the ashes of the
old and become the new person.

You will acquire a new vision, a new image of yourself, a new
awareness. It's your deep-seated beliefs, your emotional espousals,
that govern you and control you. Whatever idea or belief is dominant
in your subconscious mind takes control of your thoughts, your actions
and reactions. If you believe in failure, you cannot succeed. You
could work eighteen hours a day, work very hard; but you still would
fail because that's the dominant idea in your mind. According to your
belief, it will be done unto you. It's a science of the mind.
You will learn how to expect the best, to look forward with
• anticipation to a most glorious future, to believe it is possible. With
this new image of yourself, you will experience the joy and thrill of
the fulfillment of your dream. You will learn how to apply these
principles to develop 'and advance in your job and your career.
Although the contents of this book is drawn primarily from Dr.
Murphy's works, it has been augmented with additional information
and examples to illustrate how valuable its message is to the
readers of the twenty-first century.

As Dr. Murphy was a minister, many of his suggestions are
based on his strong belief in God. However, whether you are religious,
agnostic, or an atheist, you can experience this Infinite Intelligence
functioning for you. You need no creed. If you will call
upon It, It will answer you. It's impersonal, no respecter of persons.
To religious people, this Infinite Intelligence is God. To others it
may be considered to be something deep within oneself. You can
call it Superhuman Intelligence, if you want to, or the subliminal
mind. •
-If you have a problem mental, physical, or emotional . that is
holding you back at work, ask yourself: What am I turning away
from? What is it I don't want to face? Am I hiding my resentment
and hostility to someone? Face the problem. Solve it with the
knowledge of your deeper mind, knowing that the Life Principle
always seeks to heal, to restore. The Life Principle is the vital force •
that animates us. It never condemns. It never punishes. It never
judges. It can't. You pass judgment on yourself by your own
thought, the conclusion, verdict, in your own mind. Remember, the
Life Principle cannot punish you. It cannot judge you. You judge
yourself. And you mold and you fashion your own destiny, for as
you think in your heart or subconscious so are you.

Realize, therefore, that thoughts are things; what you feel you
attract; what you imagine you become. Then wonders will begin to
happen in your life if you do that. Because ther.e's only One Power
and that Power is within you. You are the captain on the bridge;
you are giving the orders, and your subconscious mind will take
the impression you give it and bring it to pass, whether It's true or
not, as we said. Therefore, accept only those things that are true.
Our minds are cluttered up with false beliefs, ideas, and opinions;
and are opaque with these eternal truths. Suggestions of fear \
made to a person full of confidence and faith have absolutely no
effect. They reinforce faith and confidence in the principle of success.
They reinforce the concept that the Infinite can't fail, and suggestions
of failure simply result in that person's having greater
confidence in his or her inner powers.

, Innumerable experiments by psychologists and psychiatrists
and others on persons in the hypnotic state have shown that the
subconscious mind is incapable of making selections and comparisons;
which are necessary for a reasoning process.
,You must realize that your conscious mind is your sentry at the
gate. Its chief function is to protect your subconscious mind from
false impressions. You are now aware of one of the basic laws of
mind: Your subconscious mind is amenable to suggestion. As you
know, your subconscious mind does not make comparisons or
contrasts; neither does it reason or think things out for itself. This
latter function belongs to your conscious mind. It simply reacts to
the impressions given to it by your conscious mind. It does not
show a preference for one course of action over another.
Remember that a suggestion cannot impose something on the
subconscious mind against the will of the conscious mind. Your
conscious mind has the power to reject any false or negative sug-gestlon. ,

You must make certain to give your subconscious mind only
suggestions that heal, bless, elevate, and inspire you in all your
ways. Remember that your subconscious mind takes you at your
word. It takes you literally. If you keep saying, "I can't get that
promotion, I can't make ends meet," your subconscious will see to
it that you can't.
Another influence on your subconscious is sugges. tions from
another person. The power of suggestion has played a part on human
life and thought in every period of time, in each country of the
earth. In many parts of the world it is the controlling power of r.eligion,
with constant reiteration of such comments as "You are a
sinnet, " "The Devil is going to get you," "When you die you are
going to go to hell," and things of that nature. It frightens the life
opt of people.

From infancy on, the majority of us have been given many
negative suggestions. Constructive suggestions, of course, are wonderful
and magnificent. A negative suggestion, however, is one of
the most destructive of all of the response patterns of the mind,
resulting in war, misery, suffering, racial and religious prejudices,
and disaster. The dictators, despots, and tyrants of the world know
the power of suggestion. Stalin practiced it; Hitler practiced it;
Osama bin Laden practiced it, appealing to the religious and racial
prejudices of people; then when they were highly emotionally
aroused, planting more negative suggestions, repeating certain
things over and over again to millions of these people.
You are exposed to negative suggestions in all aspects of your
life. Here are some frequently heard ones that relate to your job
and career: "You'can't," "You'll never amount to anything," "You
, mustn't " "You'll fail " "You haven't got a chance " "You're all " ,
wrong," "It's no use," "It's not what you know but who you know,"
"What's the use ? " "Nobody cares," "It's no use trying so hard,"
"You're too old now," "Things are getting worse and worse," "Life
is an endless grind," "You j ust can't win," " Pretty soon you'll be
fired," "You can't trust a soul."
These are commands to your' subconscious minq, which will
cause your life to be a living hell. You'll be frustrated, neurotic, inhibited.
You'll haunt the psychiatrist's office, because you are giving
these destructive suggestions to yourself.
You can reject all these negative suggestions by feeding your
subconscious mind with prayer, or reading an inspirational meditation
before you go to sleep. This will counteract all these destructive ideas. .

You don't have to be influenced by destructive negative suggestions.
If you look back, you can easily recall how parents, friends,
relatives, teachers, bosses, and clergy contributed in a campaign of
these destructive suggestions. The purpose of much of it was to
control you or instill fear into you. You will find that many of these
suggestions are for the purpose of making you think, feel, and act
as others want you to, and to take the road that is to their own advantage.

You are not another person's puppet. You must choose your
own road, the 􀔙oad that leads to wholeness, the path of freedom.
That path is within you. Whatever you decide to be true in your
conscious mind you will experience with your subconscious mind.
Therefore, believe that God, or Infinite Intelligence, is guiding you.
Right action reigns supreme. Divine law and order governs you .
Divine peace fills your soul. Begin to believe in all these things. You
don't create these things, but you activate them; make them potent
in your life.
,
Do your own thinking. You have the power to control your
own emotions. In your job and career, it is you, not your bosses or
coworkers, who must have control over your destiny.
Be inspired from on high. As you accept these truths with your
conscious mind, your subconscious will bring all these things to
pass, and you will discover that you are not being held back in
, reaching your goals, that you are moving in the direction you have
chosen in your career and in your life.
We must believe we can improve our lives. A belief whether it
is true, false, or merely indifferent sustained over a period of time
becomes assimilated and is incorporated into our mentality. Unless
countermanded by belief of an opposite nature, sooner or later it
takes form and is expressed or experienced as the fact, form, condition,
circumstance, and events of life. We have the power within
us to change negative beliefs to positive ones and thereby change
our lives for the better.
, -Arthur R. Pell, Ph.D.
Editor
....


Table of Contents
Introduction: •
Understanding the Power of Your Subconscious Mind  vii

Part One
Maximizing the Personal Attributes
That Lead to a Successful Career   1
1. Establishing and Achieving Your Goals   3
2. Developing Self-Confidence and Self-Worth  15
3. Becoming a More Positive Thinker  27
4. Mastering the Law of Attrac,tion 39
5. Becoming a More Enthusiastic Person  51
6. Developing Resilience and Adaptability 59
7. Overcoming Worry and Stress  71
8. Conquering Fear  82
9. Enhancing Your Creative Powers  93 
10. Breaking Bad Habits  106

Part Two
Obtaining Cooperation and Support of Others   119
1 1 . Becoming a Leader  121
12. Creating a Dynamic Team 135
13. Expressing Sincere Appreciation  148
14. Communicating More Effectively  160
15. Dealing with Difficult People 173
16. Managing Your Time 187
17. Selling Your Ideas 198
18. Advancing Your Career 211
Index  223


Screenbook
Putting the Power of Your Subconscious Mind to Work- Reach New Levels of Career Success Using the Power of Your Subconscious Mind
....
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Published by the Penguin Group
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Cover design by Ben Gibson
First edition: February 2009

Wesley J. Chun

Praise for the Previous Edition

The long-awaited second edition of Wesley Chun’s Core Python Programming
proves to be well worth the wait—its deep and broad coverage and useful
exercises will help readers learn and practice good Python.”
—Alex Martelli, author of Python in a Nutshell and editor of Python Cookbook
“There has been lot of good buzz around Wesley Chun’s Core Python
Programming. It turns out that all the buzz is well earned. I think this is the
best book currently available for learning Python. I would recommend Chun’s
book over Learning Python (O’Reilly), Programming Python (O’Reilly), or The
Quick Python Book (Manning).”
—David Mertz, Ph.D., IBM DeveloperWorks
“I have been doing a lot of research [on] Python for the past year and have
seen a number of positive reviews of your book. The sentiment expressed
confirms the opinion that Core Python Programming is now considered the
standard introductory text.”
—Richard Ozaki, Lockheed Martin
“Finally, a book good enough to be both a textbook and a reference on the
Python language now exists.”
—Michael Baxter, Linux Journal
“Very well written. It is the clearest, friendliest book I have come across
yet for explaining Python, and putting it in a wider context. It does not
presume a large amount of other experience. It does go into some important
Python topics carefully and in depth. Unlike too many beginner
books, it never condescends or tortures the reader with childish hide-andseek
prose games. [It] sticks to gaining a solid grasp of Python syntax and structure.”
http://python.org bookstore Web site
“[If ] I could only own one Python book, it would be Core Python Programming
by Wesley Chun. This book manages to cover more topics in more depth
than Learning Python but includes it all in one book that also more than
adequately covers the core language. [If] you are in the market for just one
book about Python, I recommend this book. You will enjoy reading it,
including its wry programmer’s wit. More importantly, you will learn
Python. Even more importantly, you will find it invaluable in helping
you in your day-to-day Python programming life. Well done, Mr. Chun!”
—Ron Stephens, Python Learning Foundation
“I think the best language for beginners is Python, without a doubt. My
favorite book is Core Python Programming.”
—s003apr, MP3Car.com Forums
“Personally, I really like Python. It’s simple to learn, completely intuitive,
amazingly flexible, and pretty darned fast. Python has only just started to
claim mindshare in the Windows world, but look for it to start gaining lots
of support as people discover it. To learn Python, I’d start with Core Python
Programming by Wesley Chun.”
—Bill Boswell, MCSE, Microsoft Certified Professional Magazine Online
“If you learn well from books, I suggest Core Python Programming. It is by
far the best I’ve found. I’m a Python newbie as well and in three months’
time I’ve been able to implement Python in projects at work (automating
MSOffice, SQL DB stuff, etc.).”
—ptonman, Dev Shed Forums
“Python is simply a beautiful language. It’s easy to learn, it’s cross-platform,
and it works. It has achieved many of the technical goals that Java
strives for. A one-sentence description of Python would be: ‘All other languages
appear to have evolved over time—but Python was designed.’ And
it was designed well. Unfortunately, there aren’t a large number of books for
Python. The best one I’ve run across so far is Core Python Programming.”
—Chris Timmons, C. R. Timmons Consulting
“If you like the Prentice Hall Core series, another good full-blown treatment
to consider would be Core Python Programming. It addresses in elaborate
concrete detail many practical topics that get little, if any, coverage in other books.”
—Mitchell L. Model, MLM Consulting

“The simplified yet deep level of detail, comprehensive coverage of material,
and informative historical references make this book perfect for the classroom...
An easy read, with complex examples presented simply, and great
historical references rarely found in such books. Awesome!”
—Gloria W.
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Book Details
 Price
 2.50 USD
 Pages
 886 p
 File Size
 9,570 KB
 File Type
 PDF format
 ISBN-13
 ISBN-10
 978-0-13-267820-9
 0-13-267820-9
 Copyright   
 2012 Pearson Education, Inc  

About the Author
Wesley Chun was initiated into the world of computing during high
school, using BASIC and 6502 assembly on Commodore systems. This was
followed by Pascal on the Apple IIe, and then ForTran on punch cards. It
was the last of these that made him a careful/cautious developer, because
sending the deck out to the school district’s mainframe and getting the
results was a one-week round-trip process. Wesley also converted the
journalism class from typewriters to Osborne 1 CP/M computers. He got
his first paying job as a student-instructor teaching BASIC programming to
fourth, fifth, and sixth graders and their parents.

After high school, Wesley went to University of California at Berkeley
as a California Alumni Scholar. He graduated with an AB in applied math
(computer science) and a minor in music (classical piano). While at Cal, he
coded in Pascal, Logo, and C. He also took a tutoring course that featured
videotape training and psychological counseling. One of his summer
internships involved coding in a 4GL and writing a “Getting Started” user
manual. He then continued his studies several years later at University of
California, Santa Barbara, receiving an MS in computer science (distributed
systems). While there, he also taught C programming. A paper based on his
master’s thesis was nominated for Best Paper at the 29th HICSS conference,
and a later version appeared in the University of Singapore’s Journal of High
Performance Computing.

Wesley has been in the software industry since graduating and has continued
to teach and write, publishing several books and delivering hundreds
of conference talks and tutorials, plus Python courses, both to the
public as well as private corporate training. Wesley’s Python experience
began with version 1.4 at a startup where he designed the Yahoo! Mail
spellchecker and address book. He then became the lead engineer for
Yahoo! People Search. After leaving Yahoo!, he wrote the first edition of
this book and then traveled around the world. Since returning, he has
used Python in a variety of ways, from local product search, anti-spam
and antivirus e-mail appliances, and Facebook games/applications to
something completely different: software for doctors to perform spinal
fracture analysis.
In his spare time, Wesley enjoys piano, bowling, basketball, bicycling,
ultimate frisbee, poker, traveling, and spending time with his family. He
volunteers for Python users groups, the Tutor mailing list, and PyCon.
He also maintains the Alan Parsons Project Monster Discography. If you
think you’re a fan but don’t have “Freudiana,” you had better find it! At
the time of this writing, Wesley was a Developer Advocate at Google, representing
its cloud products. He is based in Silicon Valley, and you can follow
him at @wescpy or plus.ly/wescpy.

PREFACE
We are delighted that you have engaged us to help you learn Python as
quickly and as deeply as possible. The goal of the Core Python series of
books is not to just teach developers the Python language; we want you
you to develop enough of a personal knowledge base to be able to develop
software in any application area.

In our other Core Python offerings, Core Python Programming and Core
Python Language Fundamentals, we not only teach you the syntax of the
Python language, but we also strive to give you in-depth knowledge of
how Python works under the hood. We believe that armed with this
knowledge, you will write more effective Python applications, whether
you’re a beginner to the language or a journeyman (or journeywoman!).

Upon completion of either or any other introductory Python books, you
might be satisfied that you have learned Python and learned it well. By
completing many of the exercises, you’re probably even fairly confident in
your newfound Python coding skills. Still, you might be left wondering,
“Now what? What kinds of applications can I build with Python?” Perhaps
you learned Python for a work project that’s constrained to a very
narrow focus. “What else can I build with Python?”

About This Third Edition
At the time the first edition of this book was published, Python was entering
its second era with the release of version 2.0. Since then, the language
has undergone significant improvements that have contributed to the
overall continued success, acceptance, and growth in the use of the language.
Deficiencies have been removed and new features added that bring
a new level of power and sophistication to Python developers worldwide.
The second edition of the book came out in 2006, at the height of Python’s
ascendance, during the time of its most popular release to date, 2.5.
The second edition was released to rave reviews and ended up outselling
the first edition. Python itself had won numerous accolades since that
time as well, including the following:
• Tiobe (www.tiobe.com)
– Language of the Year (2007, 2010)
• LinuxJournal (linuxjournal.com)
– Favorite Programming Language (2009–2011)
– Favorite Scripting Language (2006–2008, 2010, 2011)
• LinuxQuestions.org Members Choice Awards
– Language of the Year (2007–2010)
These awards and honors have helped propel Python even further.
Now it’s on its next generation with Python 3. Likewise, Core Python Programming
is moving towards its “third generation,” too, as I’m exceedingly
pleased that Prentice Hall has asked me to develop this third edition.
Because version 3.x is backward-incompatible with Python 1 and 2, it will
take some time before it is universally adopted and integrated into industry.
We are happy to guide you through this transition. The code in this
edition will be presented in both Python 2 and 3 (as appropriate—not
everything has been ported yet). We’ll also discuss various tools and practices
when porting.
The changes brought about in version 3.x continue the trend of iterating
and improving the language, taking a larger step toward removing some
of its last major flaws, and representing a bigger jump in the continuing
evolution of the language. Similarly, the structure of the book is also making
a rather significant transition. Due to its size and scope, Core Python
Programming as it has existed wouldn’t be able to handle all the new material
introduced in this third edition.

Therefore, Prentice Hall and I have decided the best way of moving forward
is to take that logical division represented by Parts I and II of the previous
editions, representing the core language and advanced applications
topics, respectively, and divide the book into two volumes at this juncture.
You are holding in your hands (perhaps in eBook form) the second half of
the third edition of Core Python Programming. The good news is that the
first half is not required in order to make use of the rich amount of content
in this volume. We only recommend that you have intermediate Python
experience. If you’ve learned Python recently and are fairly comfortable
with using it, or have existing Python skills and want to take it to the next
level, then you’ve come to the right place!

As existing Core Python Programming readers already know, my primary
focus is teaching you the core of the Python language in a comprehensive
manner, much more than just its syntax (which you don’t really need
a book to learn, right?). Knowing more about how Python works under
the hood—including the relationship between data objects and memory
management—will make you a much more effective Python programmer
right out of the gate. This is what Part I, and now Core Python Language
Fundamentals, is all about.

As with all editions of this book, I will continue to update the book’s
Web site and my blog with updates, downloads, and other related articles
to keep this publication as contemporary as possible, regardless to which
new release of Python you have migrated.
For existing readers, the new topics we have added to this edition include:
• Web-based e-mail examples (Chapter 3)
• Using Tile/Ttk (Chapter 5)
• Using MongoDB (Chapter 6)
• More significant Outlook and PowerPoint examples (Chapter 7)
• Web server gateway interface (WSGI) (Chapter 10)
• Using Twitter (Chapter 13)
• Using Google+ (Chapter 15)
In addition, we are proud to introduce three brand new chapters to the
book: Chapter 11, “Web Frameworks: Django,” Chapter 12, “Cloud Computing:
Google App Engine,” and Chapter 14, “Text Processing.” These represent
new or ongoing areas of application development for which Python
is used quite often. All existing chapters have been refreshed and updated
to the latest versions of Python, possibly including new material. Take a
look at the chapter guide that follows for more details on what to expect
from every part of this volume.

Table of Contents
Preface xv
Acknowledgments xxvii
About the Author xxxi
Part I General Application Topics
Chapter 1 Regular Expressions
1.1 Introduction/Motivation 3
1.2 Special Symbols and Characters 6
1.3 Regexes and Python 16
1.4 Some Regex Examples 36
1.5 A Longer Regex Example 41
1.6 Exercises 48
Chapter 2 Network Programming
2.1 Introduction 54
2.2 What Is Client/Server Architecture? 54
2.3 Sockets: Communication Endpoints 58
2.4 Network Programming in Python 61
2.5 *The SocketServer Module 79
2.6 *Introduction to the Twisted Framework 84
2.7 Related Modules 88
2.8 Exercises 89
Chapter 3 Internet Client Programming
3.1 What Are Internet Clients? 95
3.2 Transferring Files 96
3.3 Network News 104
3.4 E-Mail 114
3.5 Related Modules 146
3.6 Exercises 148
Chapter 4 Multithreaded Programming
4.1 Introduction/Motivation 157
4.2 Threads and Processes 158
4.3 Threads and Python 160
4.4 The thread Module 164
4.5 The threading Module 169
4.6 Comparing Single vs. Multithreaded Execution 180
4.7 Multithreading in Practice 182
4.8 Producer-Consumer Problem and the Queue/queue Module 202
4.9 Alternative Considerations to Threads 206
4.10 Related Modules 209
4.11 Exercises 210
Chapter 5 GUI Programming
5.1 Introduction 214
5.2 Tkinter and Python Programming 216
5.3 Tkinter Examples 221
5.4 A Brief Tour of Other GUIs 236
5.5 Related Modules and Other GUIs 247
5.6 Exercises 250
Chapter 6 Database Programming
6.1 Introduction 254
6.2 The Python DB-API 259
6.3 ORMs 289
6.4 Non-Relational Databases 309
6.5 Related References 316
6.6 Exercises 319
Chapter 7 *Programming Microsoft Office
7.1 Introduction 325
7.2 COM Client Programming with Python 326
7.3 Introductory Examples 328
7.4 Intermediate Examples 338
7.5 Related Modules/Packages 357
7.6 Exercises 357
Chapter 8 Extending Python4
8.1 Introduction/Motivation 365
8.2 Extending Python by Writing Extensions 368
8.3 Related Topics 384
8.4 Exercises 388
Part II Web Development
Chapter 9 Web Clients and Servers
9.1 Introduction 391
9.2 Python Web Client Tools 396
9.3 Web Clients 410
9.4 Web (HTTP) Servers 428
9.5 Related Modules 433
9.6 Exercises 436
Chapter 10 Web Programming: CGI and WSGI
10.1 Introduction 442
10.2 Helping Web Servers Process Client Data 442
10.3 Building CGI Applications 446
10.4 Using Unicode with CGI 464
10.5 Advanced CGI 466
10.6 Introduction to WSGI 478
10.7 Real-World Web Development 487
10.8 Related Modules 488
10.9 Exercises 490
Chapter 11 Web Frameworks: Django
11.1 Introduction 494
11.2 Web Frameworks 494
11.3 Introduction to Django 496
11.4 Projects and Apps 501
11.5 Your “Hello World” Application (A Blog) 507
11.6 Creating a Model to Add Database Service 509
11.7 The Python Application Shell 514
11.8 The Django Administration App 518
11.9 Creating the Blog’s User Interface 527
11.10 Improving the Output 537
11.11 Working with User Input 542
11.12 Forms and Model Forms 546
11.13 More About Views 551
11.14 *Look-and-Feel Improvements 553
11.15 *Unit Testing 554
11.16 *An Intermediate Django App: The TweetApprover 564
11.17 Resources 597
11.18 Conclusion 597
11.19 Exercises 598
Chapter 12 Cloud Computing: Google App Engine 
12.1 Introduction 605
12.2 What Is Cloud Computing? 605
12.3 The Sandbox and the App Engine SDK 612
12.4 Choosing an App Engine Framework 617
12.5 Python 2.7 Support 626
12.6 Comparisons to Django 628
12.7 Morphing “Hello World” into a Simple Blog 631
12.8 Adding Memcache Service 647
12.9 Static Files 651
12.10 Adding Users Service 652
12.11 Remote API Shell 654
12.12 Lightning Round (with Python Code) 656
12.13 Sending Instant Messages by Using XMPP 660
12.14 Processing Images 662
12.15 Task Queues (Unscheduled Tasks) 663
12.16 Profiling with Appstats 670
12.17 The URLfetch Service 672
12.18 Lightning Round (without Python Code) 673
12.19 Vendor Lock-In 675
12.20 Resources 676
12.21 Conclusion 679
12.22 Exercises 680
Chapter 13 Web Services
13.1 Introduction 685
13.2 The Yahoo! Finance Stock Quote Server 685
13.3 Microblogging with Twitter 690
13.4 Exercises 707
Part III Supplemental/Experimental
Chapter 14 Text Processing
14.1 Comma-Separated Values 715
14.2 JavaScript Object Notation 719
14.3 Extensible Markup Language 724
14.4 References 738
14.5 Related Modules 740
14.6 Exercises 740
Chapter 15 Miscellaneous
15.1 Jython 744
15.2 Google+ 748
15.3 Exercises 759
Appendix A Answers to Selected Exercises
Appendix B Reference Tables
Appendix C Python 3: The Evolution of a Programming Language
C.1 Why Is Python Changing? 799
C.2 What Has Changed? 799
C.3 Migration Tools 805
C.4 Conclusion 806
C.5 References 806
Appendix D Python 3 Migration with 2.6+
D.1 Python 3: The Next Generation 807
D.2 Integers 809
D.3 Built-In Functions 812
D.4 Object-Oriented Programming: Two Different Class Objects 814
D.5 Strings 815
D.6 Exceptions 816
D.7 Other Transition Tools and Tips 817
D.8 Writing Code That is Compatible in Both Versions 2.x and 3.x 818
D.9 Conclusion 822
Index 823


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Who Should Read This Book?
This book is meant for anyone who already knows some Python but wants
to know more and expand their application development skillset.
Python is used in many fields, including engineering, information technology,
science, business, entertainment, and so on. This means that the list
of Python users (and readers of this book) includes but is not limited to
• Software engineers
• Hardware design/CAD engineers
• QA/testing and automation framework developers
• IS/IT/system and network administrators
• Scientists and mathematicians
• Technical or project management staff
• Multimedia or audio/visual engineers
• SCM or release engineers
• Web masters and content management staff
• Customer/technical support engineers
• Database engineers and administrators
• Research and development engineers
• Software integration and professional services staff
• Collegiate and secondary educators
• Web service engineers
• Financial software engineers
• And many others!
Some of the most famous companies that use Python include Google,
Yahoo!, NASA, Lucasfilm/Industrial Light and Magic, Red Hat, Zope, Disney,
Pixar, and Dreamworks.

by Larry Easto


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The complete idiot’s guide to small business for Canadians


Foreword
You have a dream. It’s a vision of the future that gives you a warm glow of contentment.
Close your eyes and you can see it now: there you are, running your own business. No
one is barking deadlines at you, or dishing out orders. You are in charge. You have created
your own small company, with dozens of smiling customers handing you large sums of
money, just for doing something you love to do. 
Happiness, prestige, and financial wellbeing are yours.

Now wake up! The cold hard light of day is shining and something ugly is staring you in
the face. Running a successful small business is not easy. 
If it was, most wouldn’t fail the way they do.

The sad fact is, the people who may buy your goods or services don’t make decisions
based on whether or not it will help you achieve your goals. They want value at the
right price—and are likely to have little to no appreciation of the charm of buying from
someone who just started their own business.

Dreams do come true, though—and Larry Easto knows how. In this thorough and practical
guide, he blows away the clouds and lays out a foundation on which a solid business can
be built. He starts by helping you to set realistic expectations, and includes a questionnaire
by which to evaluate your own entrepreneurial instincts. Then he takes you step by step
through the process of designing, building and running your company.

You’ll meet Nancy and her computer assistance service, Lorne and his home-video production
company, as well as a variety of other small entrepreneurs who are grappling with the same
kinds of decisions you may face. There are loads of examples here from which to learn.
And most importantly, to my mind, Mr. Easto doesn’t mince words about the difficult
issues that the would-be businessperson must resolve. Going into business with family
members can be a headache. Partnerships are tricky. Friends who invest in your business
expect to get their money back even if your business fails. It’s up to you to find ways to
beat your competition, find new customers, get financing, and hire the right people.

Fortunately, the details of how to handle these issues are laid out, chapter by chapter.
How I wish some of the entrepreneurs we’ve featured on Venture had read this book before
they started out! The business program I host on CBC Television has covered hundreds
of start-ups over the years, some of which were incredibly successful, some of which
crumbled and collapsed. What factors produce success? Those who invest the time and
effort in researching the marketplace and planning their business definitely improve
their chances. (Every now and then a complete dreamer lucks out with a fabulous idea
and makes it big, even while being completely unprepared, 
but those cases are rare—plus, do you really want to gamble with your life savings?)
So do your homework. Take this book, add your business idea and make it happen. Being
able to put ‘President and CEO’ after your name doesn’t have to be only a dream!
DIANNE BUCKNER, host of CBC’s Venture


Introduction
Small business is booming.
According to Statistics Canada, there are approximately two million Canadian businesses
that employ fewer than twenty people. Collectively, these businesses contribute more
than $50 billion to the economy.

Not surprisingly, organizations from public, private, and not-for-profit sectors are all
eager to support small business. Governments at all levels provide a wealth of advice and
information (but no money) for business startups and new businesses. This support is
offered in the interest of keeping the economy growing. Private sector organizations—
businesses ranging from IBM to your neighbourhood home-based bookkeeper—provide
free advice and information in the hope that small business owners will reciprocate this
kindness by purchasing their goods and services. Not-for-profit organizations—such as
educational institutions and charities—provide information and training as part of their
educational mandate and also to generate some much-needed revenue.
Clearly, there is no shortage of advice and information for actual or potential owners of
small businesses. This being the case, why bother writing this book?

Why This Book?
Although there is a wealth of support available for small businesses, most of it is
information driven. It usually takes the form of loads of standard dry information
presented in print, electronic form, or in personal presentations. In many cases, it’s like
receiving a load of topsoil for your new garden. Like the topsoil before a new gardener,
information is dumped in front of the potential or new business owner. Just because it’s
available, it doesn’t necessarily mean that the wannabe gardener or business owner
knows what to do with it.

Instead of simply adding more information to the pile, this book is intended to help
you learn the skills that you need to succeed in your own business. And these skills are
based on what owners of small businesses actually do, not modified versions of practices
followed by big business organizations.

I have also tried to recognize the reality that most successful small businesses are unique:
They reflect the individual personalities of their respective owners. In practice, this
means that the book is relatively free of “shoulds” and “oughts.” There are no directives
telling you that you should follow a specific formula for developing your business plan,
or that you ought to set up your financial forecasts to meet the exacting standards of the
auditor general. In running your own business, you inevitably modify generally accepted
business principles to meet your own needs and wants. That same approach is part of
the philosophy behind the book.

Regardless of your interest in small business, I hope this book is as helpful as I intended
it to be. Read, use, and enjoy!

How to Use This Book
The book is a comprehensive reference for all small businesses, regardless of size or
maturity. It is divided into five parts, each of which deals with a separate stage in the life
of your business, from pre-startup to windup.

Part 1, “Before You Start,” helps you to look at personal considerations involved with
running a business, such as your own entrepreneurial attitude and the possible involvement
of your family. It also helps you decide what you will sell in your business and
whether it’s best for you to start from scratch or buy an existing business or franchise.
Part 2, “On Your Mark,” will get you ready to go once you have decided to run your
own business. It will help you identify what you need to get into business: the material
items, plans, money, and know-how necessary for success.

Part 3, “Growing Your Business,” tells you everything that you will need to know
about marketing your goods and services. Whether you are just starting your business or
are looking for more business for your existing small business, this part will help you
attract and retain customers.

Part 4, “Expanding Your Business,” is your guide to adding resources to increase
your ability to serve customers. And hiring more staff is not always the best way to
expand your business. You can make referrals, subcontract work, enter into joint
ventures, or merge your business with another one.

Part 5, “Keeping Your Business Going or Selling It,” recognizes two realities of
running a business. First, it takes energy and good health to continue to operate a
business. And second, there comes a time when the owner must get out of the business.
This material will help you keep your business going; or, once you have decided it is
time to leave, help you to extricate yourself from your business.

Thinking of Running a Business?
Skim the book from start to finish. If, after you have reviewed the contents, you get
excited enough about the prospect of running your own business to take the plunge,
reread Parts 1, 2, and 3. This time, read the material carefully, answering all of the
questions as thoroughly as you can. Once you have completed your business and
marketing plans, put the book aside to concentrate on implementing your plans. Keep
the book handy as a reference as you develop your business.

If, however, after skimming the material you decide that running your own business is
not really right for you, put the book aside and get on with your life as an employee.
The good news is that your interest in running your own business has only cost you the
purchase price of this book and the time you spent reading it. You will not have lost any
money trying to get a business going, only to find out that that approach to earning a
living is not right for you.

Like to Expand Your Existing Business?
All businesses, whether new or old, need more business. Part III, “Growing Your
Business,” will help you develop more business. Because marketing is so important to
small businesses, this is the biggest part, containing nine chapters. Although especially
useful for newer businesses, these marketing chapters offer help to all businesses,
regardless of how big or how old they are.
And to make sure that you can handle the avalanche of new work that will come from
your marketing activities, take a look at Part 4. This will help you to start thinking about
how you can expand your business.
When you have so many customers that you need help looking after them, check out
Part 4. This part offers five alternative approaches to expanding your business. And you
thought your only option was to hire staff!

Having Trouble Keeping Your Business Going?
Maybe you no longer have the energy or the interest to keep your business going. Or
maybe cash flow problems are driving you crazy. Or perhaps the time has come for you
to get out of your business. Part 5 will help, whether the problem is personal energy and
motivation or cash flow difficulties, or if it is just the right time to cash in your chips
and move on.

As a comprehensive reference, this book will help all small business owners, from
pre-startup through growth and expansion to sale or windup.

Although intended primarily for small business owners, this book will also be useful to
everyone who knows anybody who runs a small business. Whether you are a family
member, employee, customer, supplier, or simply an interested observer, you can use
this book to help you understand the growing small business phenomenon. Who
knows? Once you understand what they do, there is no telling how you can help small
business owners.


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Contents at a Glance
Part 1: Before You Start
So You Want to Run Your Own Business?
Many of us would rather earn a living by working for ourselves
than by working for someone else. If you would like to pursue the
self-employed option, think about what you will be getting into.
Is it really the right thing for you?
The Family That Works Together Sometimes Works
Some small businesses are really extensions of the family. As a
result, family things like computers and furniture, money, and
even people are used for business and family purposes. This
arrangement can work well for suitable families.
What Can You Sell?
Like it or not, when you run a business you have to sell something
to someone. From the almost limitless number of choices
available, what can you sell?
Do You Start from Scratch...or Buy a Business?
Starting your own business from scratch is not your only option.
If you have the money, you can buy an existing business or even
buy the know-how.
Keeping It Legal
Warning! Running your own business can be dangerous to your
legal well being. Maybe you need a lawyer to help protect you.
Part 2: On Your Mark 53
Preparation for Your Business
Setting up a business is like setting up a new home: You get to
buy all sorts of neat things. And the best part is that some or all
of these purchases are tax deductible!
Plan to Succeed
If you build it they will come...maybe! But first you have to plan
what you are going to build and how you are going to build it.
Where Will the Money Come From?
It takes money to make money. Don’t count on winning a lottery
to start your business. Where will you get the money to buy all
the neat things you think you need to start your business?
The Complete Idiot’s Guide to Small Business for Canadians
 Making Sense of Financial Statements
Think of your financial statements as storybooks using numbers
instead of words. If you don’t know how to read them, you won’t
know if your story has a happy ending.
 Don’t Take Risks—Manage Them!
Life can be risky, but running a business need not be. You can
manage some risks, and for others...there might be insurance.
Part 3: Growing Your Business 107
Marketing Is More Than Advertising and Selling
Forget the slick television advertising campaigns. Marketing is
whatever you do to get more business for your business.
Plan to Market
Even if you do have a better mousetrap, don’t count on the world
beating a path to your door. You can’t just sit back and wait for
things to happen—you have to make things happen. In marketing,
good things don’t happen to those who wait.
What Do Your Customers Need and Want from You?
Try as you may, you simply cannot run a business without
customers. So don’t ignore them. Get to know them as well as
possible and treat them so well that they will want to keep
coming back to you.
How to Distinguish Your Business from the Competition
You are unique. There is no one else in the world just like you. So
why should your business be like anyone else’s? Make your business
as unique as you are. It’s the best way of distinguishing
yourself from the competition.
Quality Service: Your Best Competitive Advantage
Regardless of the specifics of what your customers say they are
looking for, they all demand quality service. As long as you provide
better quality service than the competition, your customers will
keep coming back.
Ensuring Your Customers Are Happy
Happy customers are good for business. Not only are they likely to
return, they might even tell others how much they like you. How
much do your customers like you? Ask them; you might be surprised.
How to Promote Your Business...Your Way
So how do you tell the world about your better mousetrap? There
are many ways of doing it. But make sure that your message
is not lost among the thousands of others competing for your
customers’ attention.
Wired Marketing...Using the Internet
The Internet is not an orderly arrangement of information as we
have been told. It is more like a vast poorly indexed swamp of
information, some of which can be quite helpful. Regardless of
what you call it, using the Internet for marketing can be useful.
But don’t even think of going there without having considered
carefully what you want to do.
How to Obtain More Business for Your Business
Forget about those unfortunates who are not yet customers of
yours. Concentrate on those wise people who have seen the light
and chosen to do business with you. They can help you generate
more business for your business. Maybe they can even help those
poor lost souls who are not yet clients see the light and choose to
do business with you.
Part 4: Expanding Your Business 197
Referrals Are Win-Win-Win Scenarios
You can’t do it all, but you can do a lot. Especially with a little
help from your friends. Don’t try to do more if you know you
can’t. Refer the work to others—everyone wins!
You Can Accomplish More by Subcontracting
Some Work to Others
If you like control—and what business owner doesn’t?—you will
love subcontracting. Somebody else does the work and you get to
supervise and, what’s even better, get paid for it.
Hiring an Employee—The Traditional First Expansion Step
Hiring an employee can give you more than an extra pair of
hands. Between the added hassle of government regulations, your
employee’s wrongful acts, and who knows what else, having one
or more employee can add big-time stress to your business life.
A Joint Venture Is Like Living Common Law
How would you like to join forces with a compatible business to
be able to offer more to your customers? Try a joint venture—it is
like trying out a merger before making a commitment.
 A Merger Is a Marriage of Two Businesses
The fastest way to expand your business to offer more to your
customers is to take over another business. Merger is one business
strategy that can work as well for small businesses as it
does for big businesses.
Part 5: Keeping Your Business Going or Selling It 245
Keep Fit for a Healthy Business
What would happen to your business if you suddenly suffered
but survived a serious heart attack? Heart attacks and many
other health problems can be prevented. Don’t allow your own
poor health to jeopardize the well being of your business.
To Survive, Your Business Needs Cash Flow
If you look after the pennies, the dollars will take care of themselves.
How well are you managing your pennies? Are there
enough of them coming in to make up for those that escape?
There had better be!
 Transform Your Business to Cope with a
Changing World
Death and taxes used to be the only two things that were
inevitable. Now, change is also inevitable. Just because some
changes are beyond your control, it doesn’t mean that you idly
stand by and let them happen. You can always do something.
 You’ll Need a Plan to Get Out of Your Business
All good things come to an end—even running your own business.
Your challenge is to get out of your business while at the same
time keeping as much of your sanity and money as possible.
Appendix A: Glossary of Terms
Appendix B: Government Information and Contacts:
Registration and Employment Standards Requirements
Appendix C: Canadian Books for Small Business
Index


Table of Contents
Foreword . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xv
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xvi
Part 1: Before You Start 1
1 So You Want to Run Your Own Business?
You Need to Earn a Living . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
There Are Also Personal Reasons. . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Are You Playing Business? The Business-Hobbyist. . . . . . . . . . . . . . 5
The Problem with Business-Hobbyists. . . . . . . . . . . . . . . . . . . . . . . 5
A Part-Time Business and a Full-Time Job . . . . . . . . . . . . . . . . . . . . 7
How Entrepreneurial Are You Anyway? . . . . . . . . . . . . . . . . . . . . . 8
Entrepreneurial Assessment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
2 The Family That Works Together Sometimes Works
Family Money Becomes a Business Asset . . . . . . . . . . . . . . . . . . . 14
The Cash Flow Roller Coaster . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
What You Give to Your Business Takes from Your Family . . . . . . . 15
Can I Please Use the Computer? . . . . . . . . . . . . . . . . . . . . . . . . . 15
Do Family Members Belong in Your Business? . . . . . . . . . . . . . . . 16
Family Members as Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Family Members as Owners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Divide and Manage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Ownership Issues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Management Issues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Family Issues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
3 What Can You Sell? 
Selling Your Own Work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Advantages of Selling Your Own Product . . . . . . . . . . . . . . . . . . . . 22
Disadvantages of Selling Your Own Product. . . . . . . . . . . . . . . . . . 23
Selling Items That Other People Produce . . . . . . . . . . . . . . . . . . . 24
Advantages of Selling Items Produced by Others. . . . . . . . . . . . . . . 26
Disadvantages of Selling Items Produced by Others . . . . . . . . . . . . 26
Supplying Intangibles: Be a Service Provider. . . . . . . . . . . . . . . . . 26
Advantages of Being a Service Provider . . . . . . . . . . . . . . . . . . . . . 26
Disadvantages of Being a Service Provider . . . . . . . . . . . . . . . . . . . 27
Families and Individuals Need Services. . . . . . . . . . . . . . . . . . . . . 27
And So Do Businesses and Other Organizations . . . . . . . . . . . . . . 28
Who Will Buy Yours Goods or Services? . . . . . . . . . . . . . . . . . . . . 28
Small Businesses Are Service Businesses . . . . . . . . . . . . . . . . . . . . 28
Some Goods and Services Are Suitable for Both Types of Customers . 30
What Business Should You Start? . . . . . . . . . . . . . . . . . . . . . . . . . 30
4 Do You Start from Scratch...Or Buy a Business?
Starting from Scratch...Doing It Your Way . . . . . . . . . . . . . . . . . . 34
Getting Free and Low-Cost Information and Advice . . . . . . . . . . . . 34
You Might Need Some Professional Advice. . . . . . . . . . . . . . . . . . . 35
Your Biggest Risk. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Ready for a Daunting Challenge? . . . . . . . . . . . . . . . . . . . . . . . . . 35
What About the Uncertainties? . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Hey, I Want That One...Buying an Active Business . . . . . . . . . . . . 36
What’s Good About Buying a Business? . . . . . . . . . . . . . . . . . . . . 37
What’s Bad About Buying a Business? . . . . . . . . . . . . . . . . . . . . . 37
What About Buying a Franchise? . . . . . . . . . . . . . . . . . . . . . . . . . 39
The Good News About Franchises . . . . . . . . . . . . . . . . . . . . . . . . 40
And The Bad News About Buying a Franchise . . . . . . . . . . . . . . . . 40
5 Keeping It Legal
New Relationships Mean New Responsibilities . . . . . . . . . . . . . . . 44
Protect Your Personal Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
What’s the Right Business Format for You?. . . . . . . . . . . . . . . . . . 45
Sole Proprietorship. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Partnership. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
Incorporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48
Choosing Your Lawyer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
Part 2: On Your Mark 53
6 Preparation for Your Business
Make Sure That You Will Have Customers . . . . . . . . . . . . . . . . . . 56
Planning Your Business. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Business Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Setting Up Your Office . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Space . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Furniture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
Telecommunications Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
Answering Machines and Answering Services . . . . . . . . . . . . . . . . . 60
Computers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
Fax Machines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Photocopiers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Multifunction Machines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Specialized Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
Office Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
Do You Need a Motor Vehicle? . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
What About Licences, Permits, Tax Registrations, Etc.? . . . . . . . . . 64
7 Plan to Succeed 
Why Plan? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
Creating Your Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
What Results Do You Hope to Achieve? . . . . . . . . . . . . . . . . . . . . 69
Who Will Your Customers Be? . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
Who Are Your Competitors? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
How Much Will You Charge? . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
On the Financial Side . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
What Else Do You Need? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
Use Your Plan—Don’t Archive It! . . . . . . . . . . . . . . . . . . . . . . . . . 76
8 Where Will the Money Come From?
Start With Your Own Resources . . . . . . . . . . . . . . . . . . . . . . . . . . 78
How Much Do They Really Love You?. . . . . . . . . . . . . . . . . . . . . . 79
Can You Lend Me a Few Dollars? . . . . . . . . . . . . . . . . . . . . . . . . . 79
Term Loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80
Demand Loan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81
Line of Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82
Who Wants to Invest in My Business? . . . . . . . . . . . . . . . . . . . . . 82
Where Else Can I Get Financial Help? . . . . . . . . . . . . . . . . . . . . . 83
Government Funding. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83
Leasing Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84
9 Making Sense of Financial Statements
Why You Need Financial Statements . . . . . . . . . . . . . . . . . . . . . . 86
Forward-Looking Statements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86
Sources and Uses of Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86
Forecasting Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87
Cash Flow Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89
Historical Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92
Choosing an Accountant to Prepare And Interpret Your Statements . 92
10 Don’t Take Risks—Manage Them!
What Is Risk Management? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98
So How Can You Manage Risks? . . . . . . . . . . . . . . . . . . . . . . . . . . 98
What About Those Risks Beyond My Control? . . . . . . . . . . . . . . . 99
What’s Normal? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
Property Insurance Is Good. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101
Life and Casualty Insurance Is Also Good . . . . . . . . . . . . . . . . . . 103
Common Insurance Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104
Part 3: Growing Your Business 107
11 Marketing Is More Than Advertising and Selling
Approaches to Marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110
The Production Approach. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110
The Sales Approach. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111
The Marketing Approach . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111
What Marketing Does for You . . . . . . . . . . . . . . . . . . . . . . . . . . 112
Everybody Seems to Be Doing It . . . . . . . . . . . . . . . . . . . . . . . . 113
How the Big Guys Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113
Why Marketing Is Different for Small Businesses . . . . . . . . . . . . 115
12 Plan to Market
Marketing in Your Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120
Planning Your Marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120
The Steps to Successful Marketing. . . . . . . . . . . . . . . . . . . . . . . . 121
Identify a Need . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Identify the Customer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Outline Your Strategry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122
Putting It All Together: Your Marketing Plan . . . . . . . . . . . . . . . 123
Sample Marketing Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124
Keeping It Current . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125
The Dos and Don’ts of Marketing Planning . . . . . . . . . . . . . . . . 126
Do. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126
Don’t . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126
13 What Do Your Customers Need and Want from You?
You and Your Customers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127
Who Are Your Customers? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128
List Existing Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128
Identify Ideal Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129
Profile Ideal Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129
What Do Your Customers Need? . . . . . . . . . . . . . . . . . . . . . . . . 130
What Do Your Customers Expect? . . . . . . . . . . . . . . . . . . . . . . . 130
Reliability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131
Responsiveness . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132
Assurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132
Empathy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133
What Customers Are Not Looking For. . . . . . . . . . . . . . . . . . . . . 133
14 How to Distinguish Your Business from the Competition
Distinguishing Yourself . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136
What’s Special About Your Service?. . . . . . . . . . . . . . . . . . . . . . . 138
What’s Special About Your Products? Your Service! . . . . . . . . . . 139
How Your Unique Features Become Benefits to Your Customers 140
Marketing Aspects of Your Business Assets . . . . . . . . . . . . . . . . . 142
Your Network of Contacts Also Distinguishes You . . . . . . . . . . . 142
15 Quality Service: Your Best Competitive Advantage
How Quality Gives You the Competitive Edge . . . . . . . . . . . . . . 145
The Four Basic Principles of Quality Service . . . . . . . . . . . . . . . . 146
Deliver Quality Service Consistently . . . . . . . . . . . . . . . . . . . . . . 146
Provide Appropriate Knowledge. . . . . . . . . . . . . . . . . . . . . . . . . . 150
Deliver What You Promise; Don’t Promise What You Can’t Deliver . 150
Add Value to Standard Services. . . . . . . . . . . . . . . . . . . . . . . . . . 151
The Five Basic Truths About Customer Service . . . . . . . . . . . . . . 152
16 Ensuring Your Customers Are Happy
How Did You Do? Measuring Customer Satisfaction. . . . . . . . . . 155
Informal Techniques . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 156
Formal Techniques . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157
Making a Good Thing Better. . . . . . . . . . . . . . . . . . . . . . . . . . . . 162
17 How To Promote Your Business...Your Way
Who Should You Tell About Your Business? Why Tell Them? . . . 166
Making Personal Contacts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166
Networking. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166
Memberships in Clubs and Organizations . . . . . . . . . . . . . . . . . . 167
Planned Communications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 167
Speeches/Formal Presentations . . . . . . . . . . . . . . . . . . . . . . . . . . 167
Conducting Seminars and Workshops . . . . . . . . . . . . . . . . . . . . . 167
Print Communications. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168
Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 168
Direct Mail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169
Writing for Publication . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169
Public Relations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169
What Approach Is Best for You? . . . . . . . . . . . . . . . . . . . . . . . . . 169
Communication Priorities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172
18 Wired Marketing...Using the Internet
How an Internet Presence Is Like Traditional Marketing . . . . . . . 178
A Means to an End . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 178
Requires Effective Management. . . . . . . . . . . . . . . . . . . . . . . . . . 178
Integrate the Internet with Other Marketing Tools . . . . . . . . . . . . 179
Provide Information About Your Business . . . . . . . . . . . . . . . . . . 179
Networking. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179
But It’s Also Different from Traditional Marketing Tools . . . . . . . 180
Global Reach . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180
Multipurpose . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180
Provide Pictures, Sound, and Film Files . . . . . . . . . . . . . . . . . . . . 180
Create 24-Hour-a-Day Service . . . . . . . . . . . . . . . . . . . . . . . . . . 180
Open International Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180
Provide Up-to-Date Information Quickly . . . . . . . . . . . . . . . . . . . 181
How Can the Internet Help with Your Marketing Activities? . . . 181
Identify New Business Opportunities . . . . . . . . . . . . . . . . . . . . . . 181
Identify Customer Needs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181
Distinguish Yourself and Your Business . . . . . . . . . . . . . . . . . . . . 182
Identify External Challenges. . . . . . . . . . . . . . . . . . . . . . . . . . . . 182
Develop More Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182
What Can You Not Do on the Internet? . . . . . . . . . . . . . . . . . . . 183
E-Business, E-Commerce, E-Eeeekk!. . . . . . . . . . . . . . . . . . . . . . . 184
19 How to Obtain More Business for Your Business
The Basic Approaches . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188
What’s Good and Bad About These Approaches? . . . . . . . . . . . . 188
The Four-Step Sure-Fire Way to Obtain More Business . . . . . . . . 189
Identify Existing Customers for Existing Goods or Services . . . . . . 189
Identify Existing Customers for New Goods or Services . . . . . . . . . 192
Identify New Clients for Existing Goods or Services . . . . . . . . . . . 194
Identify New Clients for New Goods or Services . . . . . . . . . . . . . . 196
Part 4: Expanding Your Business 197
20 Referrals are Win-Win-Win Scenarios
Continue to Help Your Customer...Make a Qualified Referral . . . 200
Qualifying Other Businesses and Your Customers. . . . . . . . . . . . 200
Making the Referral . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202
Your Customer Wins. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203
Needs and Wants Are Met . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203
Preferred Status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203
Reassurance That You Care . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203
The Other Business Wins . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204
New Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204
No Direct Marketing Effort. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204
Peer Recognition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204
And You Win . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204
Expand Capacity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204
Maintain Relationship with Existing Customers. . . . . . . . . . . . . . 205
Enhance Relationship with Other Businesses . . . . . . . . . . . . . . . . 205
Referral Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 205
When Not to Make Referrals . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206
Subcontracting Is a Well-Established Business Practice . . . . . . . . 208
Subcontracting Versus Referrals . . . . . . . . . . . . . . . . . . . . . . . . . 209
Advantages for Your Customers and for You. . . . . . . . . . . . . . . . 210
Some Other Things to Consider About Subcontracting. . . . . . . . 210
Selecting a Subcontractor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212
Contracting Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 214
22 Hiring an Employee—The Traditional First Expansion Step
Before You Hire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 218
What Will the Employee Do? . . . . . . . . . . . . . . . . . . . . . . . . . . . 219
Recruiting the Best Employee . . . . . . . . . . . . . . . . . . . . . . . . . . . 221
Responsibilities as an Employer . . . . . . . . . . . . . . . . . . . . . . . . . 222
Sorry, It Just Didn’t Work Out. . . . . . . . . . . . . . . . . . . . . . . . . . . 224
Termination Without Notice . . . . . . . . . . . . . . . . . . . . . . . . . . . 224
Termination with Notice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224
23 A Joint Venture Is Like Living Common Law
What Is a Joint Venture?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 227
What a Joint Venture Does for Its Members . . . . . . . . . . . . . . . . 228
Locating Venture Partners. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 230
Maintaining a Joint Venture . . . . . . . . . . . . . . . . . . . . . . . . . . . . 231
Ending a Joint Venture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 232
One Party May Buy the Other Out . . . . . . . . . . . . . . . . . . . . . . . 232
One or Both Parties May Sell to a Third Party . . . . . . . . . . . . . . . 232
The Parties May Agree to Dissolve the Venture. . . . . . . . . . . . . . . 232
24 A Merger Is a Marriage of Two Businesses
What Is a Merger?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 236
Purchase Another Business And Combine It with Yours . . . . . . . 236
Its Ability to Look After Customers . . . . . . . . . . . . . . . . . . . . . . . 237
An Established Customer Base . . . . . . . . . . . . . . . . . . . . . . . . . . 237
Merge with Another Business, or 1 1 1 . . . . . . . . . . . . . . . . 237
Potential Merger Partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 238
The Merger Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 238
Serving Your Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 238
What You Want . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 239
What Each Partner Brings to the Merger. . . . . . . . . . . . . . . . . . . 239
Part 5: Keeping Your Business Going or Selling It 245
25 Keep Fit for a Healthy Business
Merger Checklist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 241
If You Plan to Go the Distance, Look After Yourself . . . . . . . . . . 247
Exercise: Even a Little Helps . . . . . . . . . . . . . . . . . . . . . . . . . . . . 248
Eating Healthy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 248
You Deserve a Break . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250
Do You Love What You Are Doing? . . . . . . . . . . . . . . . . . . . . . . 251
If You Don’t Love What You Are Doing...Change Something . . . 252
26 To Survive, Your Business Needs Cash Flow
Manage Your Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 255
Managing Cash Inflow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 256
Managing Your Cash Outflows . . . . . . . . . . . . . . . . . . . . . . . . . . 259
Need More Money?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 259
27 Transform Your Business to Cope with a Changing World
When Everything Around You Is Changing . . . . . . . . . . . . . . . . 261
When You Initiate Changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . 263
Watch Where You Want to Go, Not Where You’ve Been. . . . . . . 264
So Where Do You Want to Go?. . . . . . . . . . . . . . . . . . . . . . . . . . 265
You Can’t Get There Alone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 266
Work with Your Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . 267
Involve Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 268
28 You’ll Need a Plan to Get Out of Your Business
Planning an Exit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 271
Choosing Your Successors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 273
The Family Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 273
Employee Purchase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 274
Sale to a Third Party . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 275
Winding Up Your Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 276
Don’t Just Sit There, Do Something . . . . . . . . . . . . . . . . . . . . . . 277
Are You Ready to Start Your Own Business?. . . . . . . . . . . . . . . . . 277
Are You Ready for More Business for Your Existing Business? . . . . 277
Are You Ready to Expand Your Business? . . . . . . . . . . . . . . . . . . 278
Are You Ready to Get Out of Your Business and Move On? . . . . . . 278
Appendices
A Glossary of Terms 279
B Government Information and Contacts: Registration
and Employment Standards Requirements 281
C Canadian Books for Small Business 297
Index 297
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