and by their states corporation department. All require conformity to numerous regulations designed to protect investors from dishonest promoters.     While the regulations are extensive, they are designed to help the process. For example, some stock offerings can be exempt from expensive filings if they involve a small number of shareholders and a small amount of money. (Chapter 4, Section B2, discusses corporations and partnerships in more detail.)     Example:Wilhelmina Whalen needed $35,000 to start a coffee shop. She decided to form a small corporation and sell an investor 25% of the company for $35,000. If the coffee shop succeeded, as she expected, the 25% investment would be worth $100,000 in three years. Harrison Flyright liked Wilhelmina and her business idea. He offered $25,000 but wanted 50% of the company. Wilhelmina thought that was too high a price and said "no." Sometime later, Harrison increased the amount to $32,000, and Wilhelmina agreed to give him 49% of the stock, thereby retaining control of her business. As a California resident, Wilhelmina incorporated her business using How to Form Your Own California Corporation, by Anthony Mancuso (Nolo). She issued 49% of the stock to Harrison in exchange for his cash, and was off and running. Chapter 11: After You Open-Keeping on the Path To Success     A. Introduction     If you have followed all the steps in this book, you have completed a thorough plan for your business. You should feel good about completing a hard, demanding task. Its also important to remember that completing your plan, finding the money you need and opening or expanding your business are just the first three steps in your journey.     Many small business books take fairly extreme approaches. Two common ones can be summarized as follows:     1.Here comes another lamb to the slaughter -hopefully this book can frighten him out of his dumb idea.     2.Anybody can find fame and fortune in a small business; just read this book and get a big strongbox in which to store your surplus gold.     I hope to steer a middle course by offering you both encouragement and caution. In my view, small business is one of the last great frontiers of both individualism and opportunity, but like the prairies of yesteryear, there are more than a few rattlesnakes among the poppies. This chapter contains some highly personal recollections and observations on pitfalls and diversions you may encounter on your way to business success. B. Watch Out for Problem Areas     As a small business owner, youll have to work hard to meet your goals. It takes a lot of determination and drive to make things happen. As a result, you may focus so completely on the immediate goals at hand that you lose sight of the larger picture.     Recognizing that you dont know everything is a good first step toward business success. If youre unsure of yourself in any particular area, please take advantage of the advice and help that is there for the asking. That way, youre less likely to be sabotaged by something you didnt know-