The Top 10 Mistakes Business Owners Make – and How to Avoid Them Part 2
Why Running Your Business is No Different from Running Your Car
Michael Smyth, a barrister, uses several examples of ways that business can get into trouble.
Using the example of Jason, a man who owns a VW that hasn’t had a proper service history and is starting to have mechanical problems, Jason realizes he doesn’t have a very saleable item.
How like Jason’s VW is your business?
Q: Is your business a saleable asset (or are you stuck with it?)
Q: Will your business survive a pre-purchase inspection?
He then introduces Laura who thought she had covered all her legal bases when her business partner leaves and sets up in competition with her.
Then we meet Judith whose business is finally starting to flourish when someone virtually copies her logo and company name. Judith didn't have trademark protection.
We meet Trevor who had built a business to sell when he was ready to retire, only to find out that, because he had been so hands-on, it wasn't a very saleable business. He had extended credit to people and been slack at chasing debts. Cash flow problems arose and occasionally he found difficulty in paying his employees.
And finally we meet Amanda who made some terrible mistakes when dismissing one of her staff.
If you are a small business owner, this is an amazing e-book full of practical tips and stories that will make you sit up and take notice.
Learn from others so you don't make the same mistakes!
Tweet this book: