Your best chance of achieving wealth in the millions is to become part of an early stage entrepreneurial firm.
While failure rates for early stage ventures are reasonably high, most fail because they lack the fundamentals of a good business. Most businesses fail because the business idea was never properly researched, the founder lacked any business training or they had inadequate funding to see their business through the early development stage.
Avoiding the basic mistakes, ensuring you have some business education and learning from the mistakes of others, substantially increases the likelihood of success.
In this book I have set out what I consider to be the 101 rules for survival, growth and profitability of a business. It comes from twenty years in a series of early stage ventures, a deep understanding of entrepreneurship based on my personal experience but also seven years as a Professor of Entrepreneurship and many years as a mentor and coach to a wide range of entrepreneurial ventures.
Your best chance of joining the millionaires club is to be part of an entrepreneurial venture.
Dr. Tom McKaskill:
Global serial entrepreneur, educator, author and angel investor, Dr McKaskill is an authority on how entrepreneurs’ start, develop and harvest their ventures. He is the world’s expert on exit strategies for high growth enterprises. His experience includes multiple start-ups in the UK and USA, raising venture capital twice, undertaking two acquisitions and strategic trade sales of three businesses. Dr. McKaskill has qualifications in Economics, Accounting, Marketing and Manufacturing. Recently retired from the Richard Pratt Chair in Entrepreneurship at the Australian Graduate School of Entrepreneurship, Dr. McKaskill is the author of 20 books covering such topics as new venture growth, raising venture capital, selling a business, acquisitions strategy and angel investing. See www.amazon.com for the full range of ebooks.
www.tommckaskill.com
Inhaltsverzeichnis (Table of Contents)
- INTRODUCTION
- THE 101 TIPS FOR SUCCESS
- Begin With The End In Mind
- Hire The Best
- Share The Wealth
- Have A Consistent Message
- Keep Fit and Healthy
- Hire Slow - Fire Fast
- Create Deep Expertise
- Someone Has To Be The Boss
- Define What Problem You Solve
- Stick To What You Know Best
- Chase The Money
- Obtain The Best Advice
- Create Interesting And Challenging Jobs
- Use Innovation To Compete
- Be Accountable To A Board
- Reward Exceptional Performance
- Set The Right Customer Expectations
- Plan For The Worst Case
- Keep The Bank Informed
- To Control You Have To Measure
- Educate And Cross Train Workers
- Ask Your Customers For Feedback
- Build Recurring Revenue
- Engage Your Customers
- Develop Strong Values.
- Use Complaints As Feedback
- Productize Knowledge
- If Its Not Fun - Get Out
- Don't Compromise On Ethics
- Find The Compelling Need
- Build Teams Not Islands
- Use Deal Makers Not Deal Breakers
- Make Everyone Accountable
- Develop Strategic Partners
- Cash Is King
- Set Realistic Targets
- Lock In Customers
- Document Your Processes
- Plan For Succession
- Admit Mistakes and Fix Them
- Reward Having A Go
- Develop An Exit Plan
- Have An Escalation Process
- Find Unmet Needs
- Measure Activity Against Targets
- Exclude Personal Expenses
- Install a Good Reporting System
- Pragmatic Beats Perfection
- Focus, Focus, Focus
- Shotgun Marketing Is A Waste
- Lowest Price Is Fragile Positioning
- Always Pay Market Price
- Join A Peer Group
- Try Before They Buy
- Quality Pays
- Keep Staff Informed
- Leave Your Ego At The Door
- Never Oversell Or Over Promise
- What Will Go Wrong Probably Will
- Create Value Beyond Functionality
- Find A Business Partner
- No One Is Indispensable
- Have Your Business Audited
- You May Have To Fire Your Friends
- Have Customers Sign Off
- Barter Where You Can
- Don't Forget Your Family
- Don't Assume - Get The Evidence
- Check Your Brand Image
- Acquisitions Are Problematic
- Beware The Management Fads
- Have An Internal Devil's Advocate
- Have A Business Plan
- Never Trash The Competition
- Marketing Is Not Just Advertising
- Distributors Have Their Own Agendas
- Overseas Takes A Long Time
- Green Is Good
- Make Sure You Can Deliver
- Be Ready For The Acquisition Offer
- Wait Until The Money Is In The Bank
- Implement A Zero Tolerance Policy
- Set The Example
- Treat Suppliers Fairly
- Create Good Customer Experiences
- Don't Over Borrow
- Develop Networks
- Create Good Job Descriptions
- Benchmark Your Business
- Measure Customer Satisfaction
- Watch Out For The Large Customer
- Raising Funds Takes A Long Time
- Educate Yourself
- Loyalty Is Often Only Skin Deep
- Salespeople Always Want More
- Beware Of The Tax Department
- Build A Reputation
- Avoid Litigation Whenever possible
- Empathy Not Excuses.
- What If There Is No Right Answer
- The Buck Stops Here
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This book, written by Dr. Tom McKaskill, aims to provide practical advice and insights to help business owners achieve success and ultimately, make millions from their ventures.
- Building a successful business
- Developing effective leadership and management strategies
- Creating a strong company culture
- Implementing sound financial practices
- Understanding and engaging with customers
Zusammenfassung der Kapitel (Chapter Summaries)
The book presents 101 tips for success, each focusing on a different aspect of running a business. The tips cover a broad range of topics, from strategic planning and leadership to customer management and financial prudence.
Schlüsselwörter (Keywords)
This book's central focus lies on practical business advice, entrepreneurship, leadership, financial management, customer engagement, and achieving sustainable success through effective strategies and practices.
- Quote paper
- Tom McKaskill (Author), 2011, Make Millions From Your Business, Munich, GRIN Verlag, https://www.grin.com/document/171994
