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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.
Autorentext
MICHAEL MASTERSON is not your typical businessman. An ex–Peace Corps volunteer, he never took a class in business, doesn't read the business press, and hates to talk business. He spends his spare time writing poetry, collecting fine art, and practicing Brazilian Jiu Jitsu. His neighbors call him a bohemian. But he's also an entrepreneur. He started his first business when he was eleven years old, and in the forty-five years that have elapsed since then, he has started or co-started dozens of successful businesses. The author of numerous business books, several of them New York Times and Wall Street Journal bestsellers, Masterson consults for private clients and writes the Palm Beach Letter, a newsletter for individual investors.
Zusammenfassung
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.
Inhalt
Foreword xiii
Acknowledgments xix
INTRODUCTION Entrepreneurship: What It Is . . . and Isn't 1
The Reality of Calculated Risk 2
The Reluctant Entrepreneur 3
Launching a Successful Business Takes More Than Motivation 4
It's Okay to Be Cautious 5
Success Is Not a Roll of the Dice 6
And One More Thing . . . 6
CHAPTER 1 What, Exactly, Is a Reluctant Entrepreneur? 9
Philip Knight's Story 10
What We Can Learn From This . . . 11
Hatching a Business While You Keep Your Day Job 12
The Myth of the Entrepreneurial Type 16
CHAPTER 2 The First Question You Must Be Able to Answer 21
Rule Number One of Reluctant Entrepreneurship 23
Your Initial Challenge: Generating Positive Cash Flow 24
Educating Yourself About Business 25
CHAPTER 3 What It Takes to Be a Successful Reluctant Entrepreneur 27
The Reluctant Entrepreneur Is a Smart Entrepreneur 29
The Foundation of Your Business: Six Strategic
Choices You Have to Make at the Very Beginning 31
It's Not Rocket Science 38
CHAPTER 4 Hatching the New Business: Overcoming Fear and Taking Action 41
Your First Three Action Steps 43
How Do You Find a Mentor? 48
Putting Fear on Your Side 49
CHAPTER 5 The Magic Happens When You Hire Superstars 51
Recognizing Superstar Potential 52
Knowing What You're Looking For 53
How Do You Find These People? 54
The Care and Feeding of a Superstar 56
How to Structure a Superstar Organization 59
The Best Investment You Will Ever Make 61
CHAPTER 6 Mastering the Art of Business Relationships 65
The Reluctant Entrepreneur's Guide to Making Friends in High Places 67
12 Ways to Get People to Want to Do Business With You 69
A Simple Trick That Will Make Important People Want to Talk to You 72
How to Get Others to Tell You Their Most Valuable Success SecretsA Technique I Learned From a Self-Made Multimillionaire 73
Never Pass Up the Opportunity to Make a Connection That Can Do You Some Good 75
Seek Out Mutually-Beneficial Partnerships 76
It Doesn't Take Much to Maintain Relationships With All Your Important ContactsEven Hundreds of Them 78
CHAPTER 7 How to Become a Marketing Genius 81
Every Business Is About the Selling 82
The Beauty of Direct Marketing 83
Mastering the Art of Persuasion 85
The Difference Between Wants and Needs 87
The Difference Between Features and Benefits 88
The Difference Between Benefits and Deeper Benefits 89
The USP: Making Your Product Stand Out From the Competition 90
How to Use Your USP to Create a Successful Advertising Campaign 91
Resist the Urge to Try Something Completely Different 92
Short-Term Results Versus Long-Term Profits 93
CHAPTER 8 Maintaining Control of Your Growing Business 97
Pushing Hard for Profi ts 98
You Can Never, Ever Stop Pushing on Every Single Front 100
How Much of Your Profi ts Should Go Into Your PocketAnd How Much Should Go Back Into Your Business? 101
Why You Should Ignore the Experts and Determine Your Own Compensation 102
Create a Culture That Respects Money 103
Keep Your Eye on the Numbers 104
Never Lose Your Competitive Edge 105
How Tiffany & Co. Lost Their EdgeAnd Found It Again 106
Set High Standards for Customer ServiceAnd Make Sure They Stay High 107
A Success Trap You Don't Have to Fall Into 110
CHAPTER 9 Leadership: Keeping Your Vision Alive 113
Effective Leaders Motivate Others to Do Great Work 114
Effective Leaders Focus on Work, Not Politics 114
Effective Leaders Understand That Competition Has Its Place in Business, But It Is Not Nearly as Important as Cooperation and Sharing 115 Effective Leaders Care About The...