Boss It Buchzusammenfassung - das Wichtigste aus Boss It

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Zusammenfassung von Boss It

Name: Boss It
Rating: 4.4 (190 reviews)
Author: Carl Reader

Carl Reader

Control Your Time, Your Income and Your Life

4.4 (190 Bewertungen)

22 Min.

Worum geht es in Boss It?

Boss It (2020) is every aspiring entrepreneurs’ starter guide. Filled with both practical guidance and inspiring motivation, this book outlines all you need to know to turn your dream into a fully established business.

Inhaltsübersicht

Boss It
in 7 Kernaussagen verstehen

Audio & Text in der Blinkist App

Kernaussage 1 von 7

What’s in it for me? Learn the right way to start and grow your business.

It seems like everyone is now freelancing or working the gig economy. In the UK, one out of seven have chosen to be their own boss. The world is becoming self-employed, so why shouldn’t you?

The global pandemic has quickened this trend. Across many industries, businesses have been forced to pivot and adapt, whether that means utilizing new delivery systems or transitioning to remote work. And while it may feel like you're being forced to adapt, you do control your actions and how you live your life.

Whether you’re an entrepreneur, freelancer, or investor, the wisdom in these blinks will help you start and build your new business, allowing you to flourish in the long run.

In these blinks, you’ll learn

Why big dreams are important to starting a business;
How to identity and retain your key customers; and
The crucial concepts to scaling a business.

Get clear on why you’re willing to take on the hard work of running your own business.

So why do you want to be your own boss?

If you think it’ll allow you to escape the rat race – it won’t. Or maybe you think you’ve got a foolproof plan? Well, you don’t. In fact, it’s almost certain that you’ll miss your targeted projections. And while your previous job provided security, running your own business leaves you at the whims of the market. That means there won’t necessarily be a paycheck at the end of the month.

But your optimism will help when you’re pushed outside your comfort zone. Because in the beginning, you’ll be doing all the work, not only as manager, but also as everything from secretary to coffee-fetching intern. In fact, you’ll be working longer hours than you ever did for your boss. That’s because when there’s no one else to take care of business, it’s all up to you.

The key message here is: Get clear on why you’re willing to take on the hard work of running your own business.

The extra struggle and hardship of striking out on your own is worth it, though. At the end of the day, you can expect to feel happy and fulfilled. At last, you’ll be in total control of your hours, your earnings, and the work you do.

But first, are you starting a business or becoming self-employed? The only real difference is that a business can run without your day-to-day involvement — in other words, you have employees. Self-employment is no less legitimate, of course. In fact, 76% of the 5.5 million businesses in the UK have no employees.

Next, ask yourself whether you’re motivated by the carrot or the stick. Sure, most people would say they’re motivated by reward, but be honest: Have you ever put off studying and then pulled an all-nighter before a test? Some tasks really are unpleasant. And when you’re running your own business, all those unpleasant tasks are going to be your job. Are you ready to handle them?

If your motivation still holds firm, consider the following steps for running a successful business: dream, plan, do, and review.

Do you have a vision for a product or service that can survive in a saturated marketplace? And does this vision have an actionable plan? If so, will you take the next step and actually put it into practice? Once that’s done, are you willing to review what you’ve done and tweak it for better performance?

If you answered yes to all these questions, then you have what it takes for long term success.

To do big things, you have to dream big first.

Now that you’ve decided to start a business, what exactly will you do? Just having an idea isn’t enough – you need it to be compelling. Yet many business owners limit themselves from the start by only dreaming rational dreams, so that's all they achieve. In doing so, they prevent themselves from growing and remain stuck doing business as usual.

So dream big, because it’ll help you stay motivated over the long run. And align your dream with your values and ideas about success, too. While it may seem a long way from where you are now, remember that you’re dreaming about the future, not the present. So go into it thinking the sky’s the limit.

Don’t be afraid of “good debt.”

While some people might be lucky enough not to need funding, most new business owners require some assistance. And as any entrepreneur knows, you have to spend cash to make cash, putting fundraising at the top of your to-do list.

Maybe your business is part of an industry in which there are grants, or maybe it’s located in an area that provides subsidies. If not, you’ll have to be ready to take on some debt.

To help your business grow up healthy, set up operational systems with care.

Once you’ve received your funding, built your website, and even made a few sales, it might be tempting to go full steam ahead. After all, you’ve probably been working without a paycheck, so why not try to reel in more profits?

Well, the problem is you’re already doing a lot, including serving your customers while searching for new ones. If you go all in now and grow too quickly, things can slip through the cracks. For example, what if you miss a few emails and forget to pay a supplier? Then your supply chain is disrupted and production gets held up.

Know your customer and how to find them.

Above all, the most important factor in the sustained success of your business is the ability to find and retain customers. That’s because reliable, steady customers bring in money. And in addition, the cash flow they provide allows you to strategically plan for the future. Likewise, losing customers is bad for business, not only because you lose their money, but because finding new customers is more expensive than keeping them.

Too many business owners think that the quality of their product alone, their strategic location, or their snazzy website is all it takes to reel in new customers. Sadly, that isn’t true. To get customers interested in your product, you’ll need to have a clear understanding of who they are – or who you want them to be – and how you can capture their interest.

Your key customer is your business’s best friend.

No matter how important customers are, there are still some that you don’t actually need. Of course, in the beginning, every dollar counts so every customer is necessary. But do you really care about a customer who isn’t likely to come back? If you can’t make money by serving them, do you really need them? And if interacting with them is unpleasant – if they’re dishonest or don’t share your value system – isn’t it best not to work with them?

As the business owner, you profit directly from every purchase, so you might be tempted to take a rosier view. But as your business takes on staff, they might not feel enthusiastic about serving the bad apples. That’s why it’s so important to understand who your key customers are and then do whatever you can to encourage them to keep coming back.

Find the right people and set the right mood to help you scale your business.

So now your business is humming along. You’ve taken on employees who are free to make decisions, so you’re no longer responsible for everything. Workflow bottlenecks are a thing of the past because the processes you’ve put in place run smoothly and automatically adjust to the growing business. Now if you want to keep growing – perhaps by expanding to new cities or taking things to a level where the company can function without you – then it’s time to consider how to scale up.

To do this, you’ll need to acquire and retain new talent – and, more importantly, lead them into the future. Your ultimate goal here is to structure a business that runs itself.

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Über den Autor

Carl Reader is an entrepreneur and motivational speaker who has founded and invested in countless businesses in the course of his career. He is the chairman of d&t, a business advisory firm, and was listed on City AM’s Top 100 Entrepreneurs of 2016.

Wer Boss It lesen sollte

Entrepreneurs looking for pointers
Business dreamers looking for motivation
Anyone with a business idea they want to make a reality

Kategorien mit Boss It

Motivation & Inspiration Unternehmertum

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