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How to Make Big Money In Your Own Small Business: Unexpected Rules Every Small Business Owner Needs to Know Hardcover – May 19, 2004
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Once again, Fox gets his business expressed just right. After equally succinct books on becoming a great boss and a CEO--among other career aspirations--he addresses the more than 25 million small business owners in the U.S with a few homilies, some practicums, and many direct commandments, such as "selling is job number one" or "pick up paper clips . . . but overspend on customers." And this one as well, "work on the business, not just in the business." Smart remarks notwithstanding, this prolific, no-nonsense writer gets readers' attention with short snappy chapters and down-to-earth advice, covering funding (sources for loans) and sitting on nonprofit boards ("give, get, or get off") as well as marketing and running a business. Even seasoned pros can benefit from his words. Barbara Jacobs
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About the Author
Jeffrey J. Fox is the founder of Fox & Co., Inc., a premier marketing consulting company, serving over sixty companies in sixty industries. Prior to starting Fox & Co., Mr. Fox. was VP of Marketing and Corporate VP of Loctite Corporation. He was also director of marketing for the wine division of Pillsbury, and held various senior marketing posts at Heublein, Inc, including Director of New Products. Fox is the winner of Sales and Marketing Management magazine's Outstanding Marketer Award; and the National Industrial Distributors Award as the Nation's Best Industrial Marketer. He is the subject of a Harvard Business School case study that is rated one of the top 100 case studies, and is thought to be the most widely taught marketing case in the world. Fox has been a guest lecturer at The Harvard Business School (from which he has an MBA), The Amos Tuck School, The Conference Board, and numerous other organizations. He has been featured in the Wall Street Journal, Business Marketing, and numerous other publications, and he is a member of the Board of Trustees at Trinity College in Hartford, Connecticut. He works in Avon, CT and lives in New Hampshire.
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Top Customer Reviews
Pages 1-25 and then 129-144 focus on what to do/understand before you actually start your business. Based on my own mistakes in the professional service field, I'd like to have seen a statement or two about don't quit your day job until you have a paying customer, but Mr. Fox gets close enough to the ideal. That said, if you are a micro-sized business (10 or under people), this is good refresher stuff and may even give you some ideas to tackle to improve your business. If you are over 10 people in your business, consider skipping these sections.
In between page 26 and page 128, the advice applies equally well to micro and small businesses, although pages 92-97 are only applicable if you have more than 10 people working for you.
Throughout are some real gems of advice ... and more importantly ... the logic behind the advice. The ones that I found most intriguing and resonating were:
1. Cash in the bank is more important than "to be collected" profit
2. Stay off committees, boards and other time-intensive activities that networking gurus often proclaim as key to building business
3. The difference between a penny-saver and a penny-pincher, and why you want one but not the other.
I've read nearly all of Mr. Fox's books, and this is certainly a good one that deserves to be read by anyone thinking about starting up their own business or anyone currently running their own business...or anyone working in a small business.
I've read a lot of business books, and one thing that annoys me the most is when the author gets off topic, rambles about their personal life, and give lengthy, unnecessary examples that act more as an overkill than a learning tool.
In Big Money, the chapters are condensed to give you straight-to-the-point solutions and mental models that increase your ability to operate a successful small business.
One drawback is that it doesn't sound like his information is very researched. It seems that it mostly comes from his own perspective. But it still has some good points and is worth checking out. It's an easy read that won't take you more than a day to get through and is worth the investment.