16 of 17 people found the following review helpful
5.0 out of 5 stars
9 Good Points, and Some Very Good Business Stories, Jan 19 2006
By John Matlock "Gunny" - Published on Amazon.com
This review is from: 9 Lies That Are Holding Your Business Back (Hardcover)
The thing that attracted my attention first about this little book is the story in the introduction. The author says that he was trying to borrow money. His previous five businesses had failed, he was driving an old Honda with 200,000 miles on it. And no, the bank wouldn't loan him money.
When I started by current business, I also had been through about five failed businesses, I was driving an old Ford pickup with a quarter million miles on it. I didn't even go ask the bank.
Now there's money in the bank, I don't need a loan. (I don't mind loans, it's paying them back that I don't like.) But I still have the old Ford. It runs well, and I couldn't just sell it, it might not go to a good home.
As for the nine lies in his book. Yup! He's dead right. And furthermore, these are points that you should review about your business periodically just to make sure that you aren't falling into one of these traps.
I think that I'd just add two points.
1. Reduce your nut, your minimum monthly expenses that have to be paid as absolutely far as you can. How big a house do you really need? A luxury car, my old pickup gets me around and is really handy when I need to carry something. There are no payments, taxes and insurance are absolutely minimal.
2. In the advertising section -- Lie #3, first I have to agree with him, name recognition ads work really well at the Superbowl if your name is Budweiser. In a small business nobody cares about your name, they care about the product or service. Go get a book or two on mail order advertising. These people really understand how to get people to act. But second, he didn't mention it, but don't forget the web. If your business lends itself, the web is basically free, it covers the whole world, and brings a whole new concept to expand your business nation- or world wide.
12 of 13 people found the following review helpful
5.0 out of 5 stars
A Whole Bunch of Great Business Concepts Boiled down to a few Hundred Pages, July 29 2006
By Kevin Kingston - Published on Amazon.com
This review is from: 9 Lies That Are Holding Your Business Back (Hardcover)
This book is packed with great concepts that the authors have learned the hard way. It is nice of them to offer their experiences for us to learn from. Here are few that I would like to remember.
"Nothing great was ever created without enthusiasm." - Ralph Waldo Emerson
"The word enthusiasm comes from the Greek "en theos" which means "the god within" which is the level you need to play at to win big"
"The whole concept of succeeding versus not succeeding is a result of thinking versus not thinking. Anything that stops you from thinking and gives you a vacation from creative thought and innovative ideas is going to harm your business."
This is a concept I always try to remember, and it is very very hard:
"Ask yourself this question about all your daily efforts: Is this something that leads me to greater profits?"
In other words, it's more important to work smart than to work hard. The authors explain how most business owners operate at the, "busy is better" level, while they may be working really hard their way be way more productive ways to spend their time.
Another great concept is, "Time is the new money". They talk about how important it is to "work on your business rather than working in it" going as far as saying that victims work in their businesses while owners work on it.
And some quotes on time management that I would like to remember:
"Start by doing what's necessary, then what's possible, and suddenly your doing the impossible." - St. Francis of Assisi
"Learn to use ten minutes intelligently. It will pay you huge dividends." - William A. Irwin
"You will never `find' time for anything, if you want time you must make it." - Charles Buxton
"You have more to do than you can possibly do. You just need to feel good about your choices." - David Allen
By Kevin Kingston, author of: A 20,000% Gain in Real Estate: A True Story About the Ups and Downs From Wall Street to Real Estate Leading to Phenomenal Returns
My Blog: The Real Estate Investors Blog
7 of 7 people found the following review helpful
5.0 out of 5 stars
Exceptional Book for Small Business Owners, Dec 31 2005
By Pamela Simpson "P. Simpson" - Published on Amazon.com
This review is from: 9 Lies That Are Holding Your Business Back (Hardcover)
This book is an exceptional book for all small business owners. Steve and Sam hit the nail on the head. I have owned my business for 13 years and can't believe how much I learned about my own business by reading this book. I am motivated to make some changes and take their wonderful knowledge and insight and make it work for my business. I am a HUGE fan of all of Steve Chandler's books and have attended his seminars. He has inspired me in so many ways!! Sam Beckford is my hero. He has helped me build my business in many ways.