Starting your own business is a dream for many people. There is money to be made and, perhaps equally important, freedom to be gained. But how do you avoid the pitfalls that cause the majority of companies formed in the UK to fail within the first 18 months?
From the first few words in the introduction, it is quite clear that the challenge is great, and that this book is going to take the challenge on.
Les Green is not just an academic (although his academic qualifications are impressive), he is a practitioner. As you read this book, you sense that the author not only knows his subject, but he has an ongoing passion for creating and running small businesses. I had the privilege to meet with him in 2006, where he talked about the three main businesses which he is currently working on (Some of us struggle with just one !).
Preparation is Key
Given his experience, Les emphasizes that preparation and planning are part of the key for success, particularly in the area of Financing and Budgets. These are so often given a low priority in the enthusiasm of starting a new venture.
However, when problems occur (and they will!), then you will be pleased that you have your financial contingencies in place. Good advice.
Exit Strategy
It sounds obvious, yet I wonder how many people starting up a company actually think through their Exit Strategy ? Yet this is an important aspect of running a company. Do you want to sell the company on, pass it on to dependents, or use it as an income generator or for fast growth?
Ever practical, Les looks at ways of running your business with the end-game in mind.
Keeping the show on the road
Whereas there are some books which help you start up a new company, this also introduces significant chapters on how to run the business on a day-to-day basis. Some of the really valuable topics which Les covers include:
- Managing Cash Flow, the lifeblood of you company.
- Daily Procedures to help keep your fingers on the pulse.
- Negotiation Skills (this could also be a book in it's own right).
- How to ensure that the company has the Sales Driven approach, to ensure growth (and survival).
- ... even Physical Health and lifestyle factors which can make-or-break your success.
If Les has missed anything, then I can't see it.
I cannot think of any other book on Small Businesses which are so comprehensive.
Small Book, Big Wisdom
This is a relatively small book (126 pages). Yet it is packed with pages of advice and tips on every page. There is no "verbage". Every sentence contributes to the whole.
Each chapter is summarized by a one-page checklist. This is one feature which makes this a book which will be used as a quick look-up reference time and again.
"Small Companies, Big Winners" is a Big Winner.
Thoroughly Recommended
