Weekly Readings:
Tim and Brad Larson case:
·
Contact businesses personally if possible, face
to face
·
If you’re fortunate to have a successful entrepreneur
in your family, pick their brain and use their knowledge to help yourself.
·
Don’t put all your eggs in one basket on a
single business. Narrow your choices
down and carefully consider your options.
·
Education, education, education. BA and MBA are VERY valuable in the fields of
entrepreneurism.
The Advantages of Owning an Existing Business:
·
Save time, energy, and money.
·
Cash flow starts immediately! Or much sooner than starting your own
business would.
·
Still have the ability to innovate and be
creative with your newly purchased business.
·
Solid client base established.
12 Keys to Family Business Success:
·
Seek outside advice for your business. Have a mentor
·
Require outside experience from employees for
your business
·
Put business relationships in writing. Keep organized and in a safe place.
·
Treat family members fairly
·
Develop a successful business plan and stick to
what works.
You Be the Consultant:
·
Richard Gonzalez should turn the company over to
his youngest son, Paul.
·
May not settle well with other siblings but is
the most qualified for the job
·
Degree wise and personal understanding of the business.
·
Regardless, meet with each siblings and hold a
personal interview and let them explain why they should take over the busiess.
Action Hero Video:
None for this week
Personal Reflection:
·
Purchasing a business can be a huge advantage
and get your foot in the door of business
·
Can save time, money, and energy.
·
Get all of your paperwork/contracts with
employees in writing and store in a safe place.
·
Good idea to review these contracts on a regular
basis
·
Don’t put all your eggs in one basket on a
single business. Narrow your choices
down and carefully consider your options.
·
Require
outside experience from employees for your business
$500 dollar challenge done
E Myth Conmplete
No comments:
Post a Comment