"I can't say enough good stuff about this book. My copy--I've read it twice--is highlighted and written in. Some of the chapters--like the one dealing with marketing--I've already used. And, others have taught me things I didn't know. It's twenty-seven chapters of jammed packed, good reading." -- Carmen Slaybaugh, FindYourDream
"I have not read a better book for entrepreneurs." -- Paul Tulenko, Syndicated Small Business Columnist
"It may look like a book, but it reads like a friend--that kindly uncle who sits you down and takes away your fears of going into business. Have more fun and earn more money; he tells you how. Before you know what hit you, you're calculating expectation values. You're comparing risk taking with risk shifting. You're crunching numbers. Voluntarily! ... ...Take it from someone who entered the business world bitching and moaning and wishing she had expendable hair to tear. Whether you're just starting up or you're a company owner with success under your belt and an appetite for more, you'll be glad you let Peter teach you to think like an entrepreneur." -- Rose Rosetree writes in the Winter Issue of Pathways
"Peter Hupalo's Thinking Like An Entrepreneur is a superb guide to making intelligent business decisions. Comprehensive, easy-to-read, even inspirational, Hupalo focuses on the key factors of good entrepreneurial decision making..." -- Midwest Book Review's December issue of Internet Book Watch
"The book is broad on topics and brief in content, hitting main points and driving home the realities of being an entrepreneur. With its diverse topics and solid information, you'll get a well-balanced meal on making healthy business decisions as an entrepreneur." -- IdeaCafe
From the Author
I hope Thinking Like An Entrepreneur
will be useful reading for anyone becoming or contemplating becoming an entrepreneur. I tried to capture the decision-making thought process behind successful entrepreneurship. Although there are probably no hard and fast rules that define a successful venture or a successful businessperson, I believe that most successful entrepreneurs are very much alert to financial decision-making issues that affect their businesses.
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.