By Anthony Iaquinto, Stephen Spinelli Jr.
Best marketers break universal myths-and misconceptions-about company start-upsIn by no means guess the Farm, Anthony Iaquinto and Stephen Spinelli flip a lot of the so-called professional suggestion for marketers on its head. The authors-both hugely winning entrepreneurs-refute the concept there's a fantastic entrepreneurial "type," and convey that success might be as very important as a marketing strategy in lots of businesses. specifically, the authors emphasize that entrepreneurship is a profession, no longer a one-time occasion. If budding capitalists learn how to arrange for the worst, they could greater make the most of success, particularly while good fortune and making plans element to luck. Outlining 15 key ideas for each clever start-up, this ebook offers the antidote for unrealistic expectancies and defeatism.Anthony Iaquinto (Tokyo, Japan) has begun 3 companies, together with a language institution and eating places. formerly a professor at Nanzan collage, he helped came upon an MBA application, in accordance with the yankee MBA version, at Tokyo's Aoyama Gakuin collage. Stephen Spinelli Jr. (Boston, MA) is cofounder of couple of minutes Lube overseas. he's at present Vice Provost at Babson collage and holds the loo H. Muller Jr. Chair in Entrepreneurship. he's additionally Director of the Arthur M. clean heart for Entrepreneurship.
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Extra info for Never Bet the Farm: How Entrepreneurs Take Risks, Make Decisions--and How You Can, Too
If your business succeeds in accomplishing some of your life goals, even if the business is not financially successful, you can still consider it a success. • Claiming even a modest victory can help you move on toward your next venture. Principle #7 EMBRACE FEAR All entrepreneurs share similar fears, such as losing current or future earnings, going deeply into debt, not doing as well as hoped, disappointing others, and losing one’s self-confidence. Michael Dell admitted that at one point, he feared he was in way over his head.
Fear motivates more finely tuned action. Part Two MAKING THE RIGHT DECISIONS This second section introduces principles that help simplify your decision making and increase the chances that your venture will succeed, while at the same time positioning you for a second chance, in case your venture doesn’t perform as hoped. The emphasis is on maximizing long-term potential by minimizing short-term risks. This section covers these eight principles: Principle #8 Never bet the farm. Principle #9 Don’t spend a dollar when a dime will do.
Limiting the amount of outside investment also means that you will maintain control of your organization—something that many entrepreneurs don’t realize and often later regret that they didn’t. DON’T SPEND A DOLLAR WHEN A DIME WILL DO 49 The sixth reason for starting small is to keep shut-down costs low. If bankruptcy comes to you, the less money you spend closing operations, the more likely that you will have the resources to try again. How to Keep Your Investment Small Keeping your investment small begins with having the right frame of mind.