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Wednesday, February 18, 2015

How To Ruin A Business, Says Book


MJ Gottlieb, who has owned and operated five business ventures and is now the co-owner of a strategic consulting firm (The N2ITIV Group) that helps entrepreneurs and small business increase their brand awareness, has written a lively book called How To Ruin A Business Without Really Trying: What Every Entrepreneur Should Not Do When Running A Business. (Morgan James). The PR firm I work for, Media Connect, is promoting it.

The book features over 50 chapters, including eye-catching ones such as these:

·         Don’t spend time talking to ghosts
·         The jack of all trades.. is a jackass
·         Don’t be the seventh man in a six-man line
·         Don’t accept a boat that comes with holes in the bottom
·         It’s easier to dissect an elephant than a flea

He has a lot of do’s and don’ts to share but the first 20 chapters are of the “never do-this” variety, including to never hire a friend as your attorney, have anyone work for you for free, spend what you do not have, sign personal guarantees, or make a decision while in a negative or positive emotional state.

This easy-to-read book is based on MJ’s own screw-ups and successes, and is sure to help the would-be entrepreneur get started on the right foot.

Here are some pearls of wisdom shared by MJ:

“Don’t Be Confused Between Working Hard and Working Smart”

“The Right: Always manage expectations.  In other words, always, always, always under-promise and over-deliver!

“No matter what business you are in, your supplier’s facilities must be visited in person before one penny of business can be thrown his or her way.”

“Write a detailed business plan on your company, and be prepared to be refused by hundreds of lending institutions and/or investors until you finally find the entity that gives you your chance.  If you are thin-skinned and let rejection affect you, you’re not the right person to be looking to start a business in the first place.  Your first hundred or so rejections are only your welcoming committee to the wonderful world of being an entrepreneur.”

“You should do your due diligence on not just your suppliers and your customers, but anyone you consider doing business with in any way, shape, or form… and still put it in writing, no matter what.”

“Dot Every ‘I’, Cross Every ‘T’, Leave No Stone Unturned, Believe Wholeheartedly in ‘Murphy’ and Go Over Your Checklist Twice… and Don’t Trust a Soul.”

“Start by being nice but firm to everyone.  For those you feel are mistaking your kindness for weakness, be firm but nice (there’s a difference).  If that doesn’t work, be firm and firm only.  Eventually they will get it… then you can be nice again.”

“Know that the life of an entrepreneur is extremely difficult.  Among the obvious reasons this is true is the fact that you work for an extremely stubborn and bullheaded person (yourself), as evidenced by what is willingly sacrificed to succeed.  That being said, you must find a balance if you plan to succeed. Or die in the process, as I have witnessed countless ‘successful’ entrepreneurs smoke, drink, and stress themselves to death and all I can think of is… what exactly was the point?  Was it worth it?”

"Good luck in your journey, be happy and confident with each and every step you take… and watch out for the snakes that you will come across along the way.”

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Brian Feinblum’s views, opinions, and ideas expressed in this blog are his alone and not that of his employer. You can follow him on Twitter @theprexpert and email him at brianfeinblum@gmail.com. He feels more important when discussed in the third-person. This is copyrighted by BookMarketingBuzzBlog © 2015

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