Average Reviews:
(More customer reviews)This very readable book is a how-to guide for anyone interested in starting a business, or anyone interested in general business practices. With a focus on the small business in particular, the book drills down to the basics and, as Mr. Blanchard explains, attempts to fill an information void in a world of business literature that tends to focus on large firms.
Pushing back against what seems to be conventional wisdom from so-called business gurus, Mr. Blanchard explains that merely possessing a positive, can-do attitude is insufficient for success, and a substantial portion of the early part of the book is spent discussing the psychological profile common, and perhaps necessary, to successful business owners. The book also contains some discussions that were surprising for their seemingly counterintuitive nature, such as why an entrepreneur should enter the market in a low-profile manner that may cause competitors to ignore the new business. Mr. Blanchard also explains why an innovative product idea may actually hinder one's ability to build a successful business and attract customers while an innovative service idea could be the difference between success and failure. While this argument seems, on its face, to be misplaced in an age of rapid-fire innovation and high-profile celebration of new inventions, his argument is compelling.
Mr. Blanchard includes a thorough discussion of pricing, explaining the basic how-tos, and describing why competing on the basis of price may be a mistake, while regularly increasing prices, particularly in advance of an economic downturn, is a good idea. There also is a thorough sample business valuation process that is very detailed and has a "you are there" feel to it.
One of the stronger aspects of the book is that it doesn't sugar-coat the hard work needed to be an entrepreneur. While reading the book, I frequently found myself marveling that anyone could have enough energy, or even the level of awareness required, to stay on top of the many issues that invariably crop up while running a small business. This book doesn't gloss over the tough stuff; the good and the difficult are included.
This book is rich in detail and chock full of anecdotes. Its length prevents it from being a quick read, but it is an enjoyable and informative one, and I recommend it to anyone with even a passing interest in small business ownership.
Click Here to see more reviews about: Creating Wealth with a Small Business: Strategies, Tactics and Models for Entrepreneurs
Millions of Americans dream about owning a business and having a financially rewarding career as an entrepreneur. Yet 80% of all small business start-ups fail, and the risks and challenges of small business ownership have never been greater. Ralph Blanchard, an entrepreneur with twenty years of experience, has written an insider\'s view of what an owner really needs to know in order to create substantial personal wealth with a small business start-up or acquisition. Topics include: why businesses fail, making the transition from self-employment to entrepreneurship, how to create a business model, ten personality skills found in successful entrepreneurs and establishing a credible market value for a business when it is time to sell. Creating Wealth with a Small Business combines economic, management and behavioral theory with first hand case studies and real world examples. It is a unique and invaluable resource for entrepreneurs who are in the process of starting or buying a business.
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