The Essential Entrepreneur, 2nd Edition

INTRODUCTION

Starting and running a business can be a most rewarding, but complex and demanding, part of your life. It can give you the independence, lifestyle and financial status you crave, but if it's unsuccessful it can also take away your independence and you are suddenly in damage control trying to protect all that is valuable to you.

It may seem strange to be writing a book on ‘the rules’ of entrepreneurship, as entrepreneurs, by definition, all do things differently. However, there are fundamentals you need to get right to give yourself the best chance of success when starting a business. Disruption and reinvention are part of those fundamental rules and part of the everyday life of being a successful entrepreneur. This is not a step-by-step ‘how to’ book, but rather a book of fundamental principles that will be applied differently by different people and different business concepts. But they are fundamentals that must be covered off to give you the best chance of success.

My father always said, ‘A good business makes money from day one' — a statement that still carries a lot of merit today. A simple business model that people understand and that works well is often the best, so don't unnecessarily overcomplicate the process. In these days of burning cash before your business plan predicts you will make a profit, and potentially running the risk of your plan failing in the process — leaving large debts behind — keeping it simple is often the best solution.

I was fortunate ...