The Reluctant Entrepreneur E-Book

Michael Masterson

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Serie: Agora Series
• Sprache: Englisch
• Veröffentlichungsjahr: 2012

Seitenzahl: 215

Beschreibung

Intelligent strategies for starting and growing a small business with minimal personal financial risk A comprehensive guide for entrepreneurs from one of the most successful business creators in recent years, The Reluctant Entrepreneur: Turning Dreams into Profits addresses the fears and misconceptions that many people have about starting their own businesses, walking prospective owners through the necessary decisions they need to make before even putting a business plan in place. Presenting solid, reliable strategies based on author Michael Masterson's own successful practices, and debunking some common illusions entrepreneurs have about their businesses, the book is a vital resource for anyone looking to avoid the pitfalls that threaten fledgling companies. * Packed with insights from an entrepreneur who has launched and sold dozens of business, presented in a lively and conversational style * Some 600,000 new businesses are launched each year and with an uncertain economy, more and more people are looking for a stream of income separate from their 9 to 5 job * Filled with highly applicable advice that budding and professional entrepreneurs can start using immediately Essential reading for small business owners and both first time and established entrepreneurs, The Reluctant Entrepreneur presents the smart strategies on starting and growing a small business that can make launching your own company a cinch.

Leseprobe

Table of Contents

Cover

Title page

Copyright page

Dedication

FOREWORD: IS THIS AN “INSPIRATIONAL” BOOK?

ACKNOWLEDGMENTS

INTRODUCTION

THE REALITY OF CALCULATED RISK

THE RELUCTANT ENTREPRENEUR

LAUNCHING A SUCCESSFUL BUSINESS TAKES MORE THAN MOTIVATION

IT’S OKAY TO BE CAUTIOUS

SUCCESS IS NOT A ROLL OF THE DICE

AND ONE MORE THING . . .

CHAPTER 1 WHAT, EXACTLY, IS A RELUCTANT ENTREPRENEUR?

PHILIP KNIGHT’S STORY

WHAT WE CAN LEARN FROM THIS . . .

HATCHING A BUSINESS WHILE YOU KEEP YOUR DAY JOB

THE MYTH OF THE “ENTREPRENEURIAL TYPE”

CHAPTER 2 THE FIRST QUESTION YOU MUST BE ABLE TO ANSWER

RULE NUMBER ONE OF RELUCTANT ENTREPRENEURSHIP

YOUR INITIAL CHALLENGE: GENERATING POSITIVE CASH FLOW

EDUCATING YOURSELF ABOUT BUSINESS

CHAPTER 3 WHAT IT TAKES TO BE A SUCCESSFUL RELUCTANT ENTREPRENEUR

THE RELUCTANT ENTREPRENEUR IS A SMART ENTREPRENEUR

THE FOUNDATION OF YOUR BUSINESS: SIX STRATEGIC CHOICES YOU HAVE TO MAKE AT THE VERY BEGINNING

IT’S NOT ROCKET SCIENCE

CHAPTER 4 HATCHING THE NEW BUSINESS: OVERCOMING FEAR AND TAKING ACTION

YOUR FIRST THREE ACTION STEPS

HOW DO YOU FIND A MENTOR?

PUTTING FEAR ON YOUR SIDE

CHAPTER 5 THE MAGIC HAPPENS WHEN YOU HIRE SUPERSTARS

RECOGNIZING SUPERSTAR POTENTIAL

KNOWING WHAT YOU’RE LOOKING FOR

HOW DO YOU FIND THESE PEOPLE?

THE CARE AND FEEDING OF A SUPERSTAR

HOW TO STRUCTURE A SUPERSTAR ORGANIZATION

THE BEST INVESTMENT YOU WILL EVER MAKE

CHAPTER 6 MASTERING THE ART OF BUSINESS RELATIONSHIPS

THE RELUCTANT ENTREPRENEUR’S GUIDE TO MAKING FRIENDS IN HIGH PLACES

12 WAYS TO GET PEOPLE TO WANT TO DO BUSINESS WITH YOU

A SIMPLE TRICK THAT WILL MAKE IMPORTANT PEOPLE WANT TO TALK TO YOU

HOW TO GET OTHERS TO TELL YOU THEIR MOST VALUABLE SUCCESS SECRETS— A TECHNIQUE I LEARNED FROM A SELF-MADE MULTIMILLIONAIRE

NEVER PASS UP THE OPPORTUNITY TO MAKE A CONNECTION THAT CAN DO YOU SOME GOOD

SEEK OUT MUTUALLY-BENEFICIAL PARTNERSHIPS

IT DOESN’T TAKE MUCH TO MAINTAIN RELATIONSHIPS WITH ALL YOUR IMPORTANT CONTACTS—EVEN HUNDREDS OF THEM

CHAPTER 7 HOW TO BECOME A MARKETING GENIUS

EVERY BUSINESS IS ABOUT THE SELLING

THE BEAUTY OF DIRECT MARKETING

MASTERING THE ART OF PERSUASION

THE DIFFERENCE BETWEEN WANTS AND NEEDS

THE DIFFERENCE BETWEEN FEATURES AND BENEFITS

THE DIFFERENCE BETWEEN BENEFITS AND DEEPER BENEFITS

THE USP: MAKING YOUR PRODUCT STAND OUT FROM THE COMPETITION

HOW TO USE YOUR USP TO CREATE A SUCCESSFUL ADVERTISING CAMPAIGN

RESIST THE URGE TO TRY SOMETHING COMPLETELY DIFFERENT

SHORT-TERM RESULTS VERSUS LONG-TERM PROFITS

CHAPTER 8 MAINTAINING CONTROL OF YOUR GROWING BUSINESS

PUSHING HARD FOR PROFITS

YOU CAN NEVER, EVER STOP PUSHING ON EVERY SINGLE FRONT

HOW MUCH OF YOUR PROFITS SHOULD GO INTO YOUR POCKET—AND HOW MUCH SHOULD GO BACK INTO YOUR BUSINESS?

WHY YOU SHOULD IGNORE THE “EXPERTS” AND DETERMINE YOUR OWN COMPENSATION

CREATE A CULTURE THAT RESPECTS MONEY

KEEP YOUR EYE ON THE NUMBERS

NEVER LOSE YOUR COMPETITIVE EDGE

HOW TIFFANY & CO. LOST THEIR EDGE— AND FOUND IT AGAIN

SET HIGH STANDARDS FOR CUSTOMER SERVICE—AND MAKE SURE THEY STAY HIGH

A SUCCESS TRAP YOU DON’T HAVE TO FALL INTO

CHAPTER 9 LEADERSHIP: KEEPING YOUR VISION ALIVE

EFFECTIVE LEADERS MOTIVATE OTHERS TO DO GREAT WORK

EFFECTIVE LEADERS FOCUS ON WORK, NOT POLITICS

EFFECTIVE LEADERS UNDERSTAND THAT COMPETITION HAS ITS PLACE IN BUSINESS, BUT IT IS NOT NEARLY AS IMPORTANT AS COOPERATION AND SHARING

EFFECTIVE LEADERS CARE ABOUT THEIR CUSTOMERS

EFFECTIVE LEADERS MAKE FAST DECISIONS

EFFECTIVE LEADERS KNOW HOW TO GET SUPPORT FOR THEIR IDEAS

EFFECTIVE LEADERS KNOW HOW TO DELEGATE

EFFECTIVE LEADERS DO NOT MICROMANAGE

EFFECTIVE LEADERS CREATE A CULTURE OF ACCOUNTABILITY

EFFECTIVE LEADERS UNDERSTAND THAT TEAMWORK DOESN’T ALWAYS WORK

EFFECTIVE LEADERS ARE GOOD COMMUNICATORS

EFFECTIVE LEADERS MAKE EVERY MEETING WORK FOR THEM

EFFECTIVE LEADERS KNOW HOW TO NEGOTIATE

EFFECTIVE LEADERS ARE CONSIDERATE

EFFECTIVE LEADERS DON’T BECOME BUDDIES WITH THEIR EMPLOYEES

EFFECTIVE LEADERS SOMETIMES ZIG WHEN OTHERS ZAG

CHAPTER 10 BUILD YOUR BUSINESS LIKE A GO-CART

BUILDING THE GO-CART, STEP BY STEP

CONCLUSION

APPENDIX

DO YOU NEED THE MINDSET OF A CHAMPION TO SUCCEED IN BUSINESS?

HOW TO USE HUMOR IN BUSINESS

MUST YOU BE CUTTHROAT TO SUCCEED IN BUSINESS?

THE UNEXPECTED SIDE EFFECTS OF MAKING MONEY (AND HOW TO AVOID THEM)

THE TIME-MANAGEMENT SYSTEM THAT WORKS FOR ME

ABOUT THE AUTHOR

INDEX

Copyright © 2012 by Michael Masterson. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Masterson, Michael, 1950-

 The reluctant entrepreneur : turning dreams into profits / Michael Masterson.

p. cm. – (Agora series ; 73)

 Includes index.

ISBN 978-1-118-17844-7 (hardback); ISBN 978-1-118-22727-5 (ebk); ISBN 978-1-118-24021-2 (ebk); ISBN 978-1-118-26492-8 (ebk)

1. Entrepreneurship. 2. New business enterprises–Management. 3. Small business–Management. I. Title.

 HB615.M3723 2012

 658.1'1–dc23

2012004737

This book is dedicated to the hundreds of thousands of people who read Early to Rise from 2000 to 2011 when I was writing for it.

FOREWORD: IS THIS AN “INSPIRATIONAL” BOOK?

Most people go into businesses for the wrong reasons. And most people go about starting and developing businesses in the wrong way.

My friend Michael Masterson, whom I admire immensely, has done a phenomenal job of attacking myths and misinfor­mation about entrepreneurs and how they actually create and grow successful enterprises. You will finish this book with a different, deeper, and more realistic understanding of what is really involved in getting a brand-new business going, getting traction for it in its marketplace, protecting it during its fragile infancy, and growing it to mature success. Getting a new business going is not easy. But it’s not mysterious either.