Book Summary Preview : Success in Small Business is a Laughing Matter

The Big Idea

This book deals with how to establish and successfully manage any kind of small business. It delivers its messages with a dose of humor without leaving out the most important points to remember: management practices that work, the power of motivation, and success brought about by leadership.

Each chapter is filled with practical examples that readers can learn from in order to improve their businesses.

Success in Small Business is a Laughing Matter reminds its readers to always take their work and professionalism seriously, but not themselves, remembering that leadership is character in action in service to others.

Why You Need This Book

For those who have been struggling with their businesses for some time now, this book could be just what the doctor ordered. This book will help readers get over the feeling of being nothing more than small-time or 'wannabe' business owners and will motivate them to become battered, bruised, but wiser veterans of any small business.

This book will serve as a companion that understands the frustrations of would-be businesspeople, their challenges and difficulties by making them laugh and chuckle, and helping them to succeed.

Why Become a Small Business Owner?

Small business owners enjoy freedom and independence as they think of reasons for changing “we” to the singular form. They don’t have to spend hours in a meeting and they achieve the esteem and type of job security that every one desires. The small business entrepreneur can never be axed!

Other Advantages of Small Business Ownership

• Aside from tax advantages, owning your own business is an anti-inflation hedge, an often-overlooked advantage.
• Since you are not dealing with a fixed income but rather with prices that can be adjusted regularly to pass on increasing costs, you can adjust to a bloated inflationary trend.
• You can position yourself head-on against other small businesses which are often poorly managed.

Selecting the Business

What is a Small Business? It is more broadly defined as one that is independently owned and operated, and is not dominant in its field regardless of resources, earning power, or number of employees.

Establishing Criteria. Identify the risk to be weighed and assessed by relying on these suggested standards:

• Choose to offer products or services which fit a continuing human need. Do not seek to follow fads.
• Any small company must have a specialized niche if it is to succeed…
• The business should not need expensive energy, advertising, legal advice and the like. Keep your overhead low.
• The business must have as few employees as possible but high per capita sales.
• You should sell products that are difficult to copy or duplicate.
• Aim to work on low cash expenditures and cash revenues instead of credit, thereby keeping capital requirements to a minimum.
• Choose a business which may be easily relocated if necessary.
• Most of all choose a business you can love.

Risk Considerations. Even though a small business has high risk, it also has the highest degree of payoff to the owner or owners.

Where Will Tomorrow’s Growth Be? The next step is evaluating general beliefs concerning what tomorrow’s business world might look like and which industry, or segment of an industry, might benefit.

Live the Sermon

Here are four trademarks of one who leads by example:

1. Be an eloquent listener. Most business communications are not public speeches or written memos, but verbal one-on-one communications.
2. Practice the lost art of saying “no” graciously. Always think about how to deliver the “No” message with the goal of preserving friendship.
3. Know thyself. Equally important is your knowledge of yourself – knowing your own strengths and shortcomings.
4. Don’t feather your own nest. Don’t use your position for personal gain or glory.

Of Org Charts and Yellow-billed Oxpeckers

A general job description should appear on a line-and-staff organization chart.

By incorporating a general job description into the organizational chart, the reader is given an instant, clear snapshot of the organization.

You want subordinates to be like Yellow-billed Oxpeckers – these live on the backs of rhinoceroses, keeping the rhinos free of bloodsucking ticks and warning of impending dangers by flying up with rattling cries.

 

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