Street Smarts: An All-Purpose Tool Kit for Entrepreneurs
Norm Brodsky, Bo Burlingham
Format: PDF / Kindle (mobi) / ePub
"One is tempted to say 'the only book you'll need on starting a business.' Brilliant! Genius! Choose your superlative-it'll fit."-Tom Peters
People starting out in business tend to seek step-by-step formulas or rules, but in reality there are no magic bullets. Rather, says veteran company-builder Norm Brodsky, there's a mentality that helps street- smart entrepreneurs solve problems and pursue opportunities as they arise.
Brodsky shares his hard-earned wisdom every month in Inc. magazine, in the hugely popular "Street Smarts" column he cowrites with Bo Burlingham. Now they've adapted their best advice into a comprehensive guide for anyone running a small business.
itself wasn’t necessarily a mistake. Even if Sky had folded and the investment had been lost, Perfect Courier would have been able to survive and keep growing at the same rate as before. But I soon realized that the $5 mil ion wasn’t going to be enough. Sky needed $2 mil ion more in cash, which I also decided to get from Perfect Courier. In addition, I subsequently agreed to pledge several mil ion dol ars of Perfect Courier’s credit to keep Sky alive. Those two moves were very serious mistakes.
happened, and why. The process took time partly because I had such good excuses. After al , who could ever have predicted that the stock market crash and the fax machine would hit us at the same time? In my gut, however, I knew that blaming circumstances was a cop-out. The real question was, how had the company become so vulnerable to those developments? It was extremely difficult for me to come to grips with the answer to that question. It meant admitting that the bankruptcy had a lot to do
moment. “OK,” he said, “what about the special jobs?” “Wel , what about them?” I asked. That was the part I hadn’t worked out yet. “They’re 40 percent of our business,” he said. “No, they’re not,” I said. A thought had suddenly occurred to me. “They’re 40 percent of our revenues. How many special jobs do we do a month?” “I don’t know,” he said. “Five, six, ten at the most.” “And we have about a thousand bins, right?” I said. “Suppose we think of every bin as a separate job, and let’s say we
that the other side is smarter than you. Point Three: Develop the habit of questioning what you see on the surface and digging to find out what’s real y going on. Point Four: In an adversarial negotiation, the best deal is one that leaves both sides a little unhappy. CHAPTER SEVEN It Begins with a Sale As I mentioned in the introduction, my father had various expressions that encapsulated his business philosophy and shaped mine. They were al great, but there was one in particular that
she’d found out about the special and brought it to Louis’s attention. I don’t mean to suggest that Patty found the savings because we’d given her a raise. She’d been a conscientious employee from the day she started. She might wel have figured out how we could save money on our Nextel bil even if we’d done nothing more than pay her salary. But by showing how much we cared about her, we may have given her a little extra incentive to do something good for the company. And who knows? If we hadn’t