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Start-up companies that achieve high growth usually are able to maintain high profit margins and good cash flow, for example. Being able to do so is intimately tied to the type of business you want to start.
It is impossible to maintain high margins as a grocery retailer. But, a high-end dating service can maintain large margins. By estimating your profit margins before you start your business, you will be better able to compare one possible venture idea to another. The main flavor of the book is to go through important fundamental issues, such as profit margins, and discuss how and why they are important to your new business--to show you that the potential success or failure of your venture is highly dependent upon these factors.
Today is the age of the entrepreneur due to the huge number of non-capital-intensive companies that can be started. The Internet has played a significant role in opening up entrepreneurial opportunities. TLE is very appropriate to anyone contemplating starting an online business and tends to have a slight focus on computer consulting, multimedia, and specialized solution provider companies (companies that custom write software for other companies). These businesses have a good business model behind them. Because of this such companies can grow really fast.
Yet, the underlying ideas of TLE are applicable to any type of business you might be starting. So whether you contemplating starting a dating service, or an online-specialty shop, or a software company, you will hopefully find something useful to you.
Two or three of the twenty-seven chapters are a bit mathematical. But, I think understanding them is well within the reach of most serious entrepreneurs. If you can add, multiply, and divide, you can understand the principles. Yet, I felt a bit of math was essential to show, for example, how the nature of compounding wealth within a business really works. To understand the importance of both the rate of return you are able to achieve and the time interval in which you achieve this return is very important. So is understanding what exactly is limiting your overall growth. Many new entrepreneurs miss, for example, how cash flow can limit how quickly they are able to grow the business they contemplate. Understanding these factors will help you get richer faster! Understanding these factors will encourage you to start a business that is more likely to succeed. Yet, I hope I have kept the book very readable and enjoyable.
Many people who contemplate starting a business never will. They are, as I say, "Bernoullied." This means they are afraid of taking a risk. I hope this book will show you that by carefully selecting the business you undertake, you can greatly reduce this risk. You can put the odds of success more in your favor. While it is true that the only way you can really build huge wealth is via entrepreneurship, running your own business offers far more than a great opportunity for building wealth. It offers the chance to do whatever it is that you really want to do with your life.
The overriding goal of TLE is to show you the option of entrepreneurship. Most people have preconceived ideas of what they will be able to achieve with their lives. What they see as attainable is related to what they have learned and what they have seen. The ideal reader of this book is a graduate from a technical college who is working for others as a multimedia designer or computer programmer and who feels he or she would love to build a multimedia or programming company, but yet is frightened that building such a company is way too difficult.
Amazon recommended this to me based on other purchases, so I thought "why not?" Wow, such a fun read. Read morePublished 15 months ago by Karen Y
"Thinking Like An Entrepreneur" offered no new or novel insights for this discriminating reader. Read morePublished 22 months ago by David T. Kirby
A sense of humor and sarcasm guaranteed to make you cringe, a very limited set of cases (mainly IT), examples and industry references and too many mentions of Bill Gates are the... Read morePublished on August 25, 2005 by Andrew Shuttleworth
Finally a book written on entrepreneurship that has so much to offer! A guide for fledgling IT entrepreneurs as well as a resource for those faced with the myriad problems of the... Read morePublished on October 14, 2002 by A. Petrotchenkov
This book's got a lot of good stuff in it--those critical factors that help contribute to making good business decisions. I've already seen some improvement in business growth. Read morePublished on August 11, 2002
With thirty years experience in business management and psychology, both in teaching and counselling, I have great respect for this author's way of thinking and his apparent... Read morePublished on May 31, 2001 by Sandra D. Peters