This book has a simple message. You should own your business and your business should not own you. Millions of entrepreneurs start their own businesses thinking self employment is the road to freedom. Yet the vast majority of entrepreneurs work much harder than they ever did as employees. Their dreams of entrepreneurial freedom have vanished and they find themselves stuck in The Self Employment Trap. Instead of doing just one job, these entrepreneurs now do 10 jobs. They realized they left the rat race only to find themselves stuck in the Self Employment Trap. This book provides a simple 5 step system that anyone can use to escape the self employment trap. This book focuses on the only 5 key secrets you must know to escape this trap and none of the 5,000 other details that somehow take care of themselves when you master these 5 secrets. Finally, this one of the few books that reveals how to alter your business to immediately improve your personal lifestyle after all, that s the point isn t it?
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About the Author
Victor Cheng is a small business operations coach who helps small business owners work less, make more money and enjoy more freedom as entrepreneurs. He does this by taking business skills used by Fortune 500 CEOs and simplifying them to make them usable by small business owners everywhere. Victor started his career as a consultant at McKinsey & Company the secretive consulting firm that serves Fortune 500 CEOs. In addition to serving over 75 percent of the Fortune 500, McKinsey is famous because over 70 current and former Fortune 500 CEOs used to be McKinsey consultants. Victor was one of McKinsey's rising stars and at the age of 23 became one of the youngest associates in the firm s history. In addition to his work with Fortune 500 companies, Victor has worked as a senior executive in firms ranging from 30 to 1,000 employees and has started three small businesses of his own. As an entrepreneur, Victor has had companies that have succeeded as well as ones that have failed, and he candidly shares lessons learned from both so that his readers and clients may be more successful. By combining Fortune 500 management secrets with lessons learned from his own real world experiences as an entrepreneur, Victor has developed a powerful, practical and entirely unique blend of small business success tools. Small business owners use these tools to enable them to work less, make more money, and enjoy more freedom as entrepreneurs. Victor is also a graduate of Stanford University with a B.A. in Quantitative Economics and a M.A. in Sociology and Organizational Behavior. He and his family live in the San Francisco Bay Area.
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More About the Author
Victor Cheng is an expert at showing business owners how to survive and even thrive during an economic downturn. He has been featured as an expert on marketing in a recession by the Fox Business Television Network, MSNBC, The Wall Street Journal, SmartMoney magazine, and Inc. magazine.
He is a graduate of Stanford University, a former McKinsey consultant, and has been a guest lecturer at the Harvard Business School. Victor is the author of The Recession-Proof Business: Lessons from the Greatest Recession Success Stories of All Time and three other business books.
Victor combines his Fortune 500 expertise and life long passion for small business to coach small business owners on how to survive and thrive in today's economic crisis.
He is a graduate of Stanford University, a former McKinsey consultant, and has been a guest lecturer at the Harvard Business School. Victor is the author of The Recession-Proof Business: Lessons from the Greatest Recession Success Stories of All Time and three other business books.
Victor combines his Fortune 500 expertise and life long passion for small business to coach small business owners on how to survive and thrive in today's economic crisis.
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Most Helpful Customer Reviews
2 of 2 people found the following review helpful:
5.0 out of 5 stars
Lifestyle Design... and making it happen,
By
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This review is from: Escaping The Self Employment Trap: The 5 Secrets To More Time, Money And Freedom (Paperback)
This is a dense book full of actionable AND insightful ideas. Think of The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It, The 80/20 Principle: The Secret to Success by Achieving More with Less, and to some extent, The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich.Victor is simply brilliant. I'm on a mailing list of entrepreneurs, many of whom are very, very successful. Victor occasionally replies to people's questions, and his advice is always concise, thoughtful and very helpful. I found myself paying extra attention to what he had to say. I ended up teasing him that "you should write a book!" It turned out he had ... several of them. I've read many books on business, lifestyle design, financial freedom and so forth. Provided you have a business idea, this is the best there is. (If you don't have an idea for a business, the Four Hour Workweek might give you some.) You may think because I'm slightly acquainted with the author, I'm biased. Not so. I'm writing this review to help -you-, not him. The E-Myth Revisited sells you on setting up a system so you can "work on your business, instead of in it." This book shows -how-. The 80/20 Principle tells you to focus on activities that will bring the most return for the least effort. This book shows exactly what those activities are - at each step of the way. (There's 5 steps.) The 4-Hour Workweek discusses lifestyle design and gives some good ideas about how to do it. It also talks about how to recruit virtual assistants to free up your time. Victor explains a bit about lifestyle design - how to make sure your business revolves around your life instead of vice versa. That's it - no explanation of all the cool things you can do with your free time. Instead expect an explanation of how to get free time. Lots of it. You'll learn in depth about how to create -systems- to delegate all those annoying things that need doing, without having to do it yourself. In particular, the explanation of having a results description instead of a job description lets you recruit the perfect candidate. I've been looking for the magic bullet to recruit the right people. My own experience has been very hit or miss, but I eventually found some great people. "Escaping the Self Employment Trap" is second only to Smart and Gets Things Done in giving guidance in how to recruit people. However, Smart and Gets Things Done is for recruiting programmers, and "Escaping" is better overall for recruiting people to run your business systems for you. There's a lot more in here than what I just explained above. For example, there's a chapter on turning marketing into an investment instead of an expense. This is a key concept that can turbocharge your growth. Victor explains how he took a business from $500 a month in revenues to $30,000 a month, in just 90 days. He also explained his mistake that cut his profits in half, and how to easily avoid it. If you are running your own business (big or small), and want to figure out how to make your life easier, and your business grow much faster, get this book. You won't regret it.
1 of 1 people found the following review helpful:
5.0 out of 5 stars
Must-read masterpiece,
Amazon Verified Purchase(What's this?)
This review is from: Escaping The Self Employment Trap: The 5 Secrets To More Time, Money And Freedom (Paperback)
"Escaping The Self Employment Trap" is another masterpiece from Victor Cheng, whose insights continue to surpasses even this jaded reader who had read many books on the matter as well as in general. While it's easy to categorize it as a street-smart, "in-the-trenches" type of book with actual, real-world advice examples (which would have even been enough), but it goes beyond that to discuss the theory and reasoning to show you why the concepts and ideas work, thereby completing the power you can derive from this masterpiece.Cheng provides the 5 "secrets" (or steps, if you will, noting that these are ideally applied in sequence) to work ON your business instead of IN it. But there's more. There may be some books that share the concepts (notably E-Myth Revisited, or Robert Kiyosaki's books, among others), but this stands on its own, to complement but also provide unique insights beyond what the other books provide, and espouses the importance of how to escape the trap that hits many small businesspeople, and then provides you with not just a way out of it, but shows you the way to jump-start your way out of that purgatory of frustrated, burnt-out self-employment, and permanently as well as sustainably become a true, free, lifestyle entrepreneur, which is what is likely the reason you got into business for yourself in the first place. There are concepts, ideas and theories, but also specific examples, ideas, tips and techniques, while giving you concrete examples on how to actually work out the processes that serve as the foundation for growth, and that make this book something you'll wish you read years ago, but which you can only be too happy to be reading now.
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