I’m currently reading “The ultimate marketing plan - Dan Kennedy” & last month “Rich Dad, poor dad - Robert Kiyosaki”. I’m on a mission to read one book a month that could help me in my business or change it for the better.
Any book that changed your business for the good or you may have triggered the ‘aah factor’ - please list below.
A good book that i read recently was [I][I][U]“anyone can do it”[/U][/I][/I] by duncan bannatyne.
Duncan bannatyne is a scottish entrepreneur who runs and owns a selection of business’ in England and scotland including bannatyne fitness the largest chain of health clubs in britain…maybe you have heard of him.
He started out his business career by runng smal time taxis and ice-cream vans after spendng time in the navy and went on to establish “quality care homes” his first major success which he later sold for about £45m.
He is one of the “millionaire dragons” on bbc’s award winning t.v franchise series “dragons den”…thats a really good show by the way, if ya haven’t seen it before you can get some shows of it on youtube.
Anyway i’m not trying to plug his book for him by writing all the above or anything but i just think that he is a pretty interesting and to the point.
in the book he takes you through the highs and lows of his road to success…i find him really motivating.
i reccommend reading it and if you like it i believe he has a new book coming out in the next month or so which i am looking forward to.
also it is very easy reading as essentially it is a biography but teaches you at the same time…its not all about him running massive multi million £ business’ he seems to relate to small time entrepreneurs aswell as rich tycoons,
So if you have a chance you might find it interesting.
I have almost finished this book, and yes it’s good for the average joe, NOT for a entrepreneur or business owner.
I have read all of Robert Kiosoki’s books at least 3 times, good stuff. I don’t totally agree with getting into debt to become rich, but there some cases…ex. if you buy a 200k home for 100k, you had to get in 100k but you made 100k in equity.
Here’s a book I seriously recommend “The StarBucks Experience”…take your business to the super next level!!!
Can you explain further? I thought about it in reference to my window cleaning business and I don’t see how I have to be in debt. If I remember correctly, I think I remember Chris saying he has run his multi-million dollar company with little to no debt. In my opinion, no debt is good debt. Not to say I don’t have any, but I’m working on it.
Are you saying the book you recommended condones debt?
I actually had the quote mixed up…it is
"an entrepreneur in debt is an entrepreneur in business"
"an entrepreneur in business is an entrepreneur in debt"
but its pretty much the same thing
heres my thoughts on the quote:
If one is prepared to put up a certain amount of money in their business and commit themselves to paying this money back then they must believe in their venture or idea…
The book states “if one is not prepared to offer their house as security, or even give up their jobs. they say they don’t want to take the risk…but an entrepreneur with nothing to loose i just a daydreamer…an entrepreneur in debt is an entrepreneur in business”
Sure Chris was fortunate enough in not finding himself in debt, window cleaning business’ don’t require alot of start-up capital or investment, thats one of the reasons why i got into the game.Yet whats to say that Chris would not have been willing to get into debt if need be.he must have had a vision and believed in himself in creating & growing his business. The pressure of being in debt may strengthen this belief and transform it into a need…i.e one says ok i have to make this happen or i am in the s#*t.
this fear of debt motivates.think of it as adrenaline.
anyhow this quote wasn’t directed at window cleaning business’,i only mentioned it in responce to ECWC’S post about not agreeing with debt.
you say that any debt is bad(“no debt is good debt”) but if that debt gets you to where you wish to be isn’t in the long run worth it
I know a guy in my locality who has just committed himself to €1.5m of debt by starting a new bowling alley and leisure arcade business.Sure he is taking a chance (personally in this case i think it was not such a good move) but if he pulls it off won’t he reap the rewards?
Basically if someone wants to make it BIG it is likely that they will be required to take out a hefty business loan or seek substantial investment
the book doesn’t condone debt but clarifies that debt is not such a horrible and awkward thing as it is so perceived.
It promotes entrepreneurship, an entrepreneur is sometimes described as a risk taker.and in some peoples eyes nothing is more risky than slapping yourself right in a hep of debt!!
Anyway i didn’t make the quote, i just agree with the principles of it…ask duncan bannatyne (author) he seems to have turned out ok financially even with this motto.
What are you talking about!
YOU CAN buy a 200K for less then 100k.
I worked for a real estate investor In Orlando and she bought 1mill homes for 700K because they were in foreclosure, or the owner died not having relatives and the she bought the deed from the city.
You clearly don’t know anything about real estate.
If you follow the the market trends you’ll see appreciation or depreciation is certain areas. So YES you can know what’s going on in your area.
“an entrepreneur in business is an entrepreneur in debt”…kinda
A TRUE entrepreneur will find a way NOT to us his money to make money. The real estate investor in Orlando never used a penny of her money, ever!
She always did a Short Sale, Assign to, or double close, and made killer.
and you miss quested me buddy
I never said debt was wrong or bad, I said certain debt was bad…EX. Credit card debt or things like that…work related debt to help you perform at a high level to produce higher income is positive debt.