With $10,000 as a loan from a family friend (a retired physician) Fred skipped college to start a sub sandwich shop. The journey – filled with small victories, near disasters and tireless hours of toil – is not only an entertaining read but a great lesson(s) in what it is, and how it is, to be a small business owner.
Sandy from her blog summarizes it better than I could, so in her words – the book’s principles can be put into 15 snippets of wisdom. We know you don’t have time to read!
1. Start Small. It’s better than never starting at all.
2. Earn a Few Pennies. It’s good practice before you earn those dollars.
3. Begin With an Idea. There’s probably a good one right under your nose.
4. Think Like a Visionary. Always look for the Big Picture.
5. Keep the Faith. Believe in yourself and your business, even when others don’t.
6. Ready, Fire, Aim! If you think too much about it, you may never start.
7. Profit or Perish. Increase sales, decrease costs. Anything less and your business will perish.
8. Be Positive. The School of Hard Knocks will beat you down, but not if you keep a positive attitude.
9. Continuously Improve Your Business. It’s the best way to attract customers, and generate sales and profits.
10. Believe in Your People. Or they may get even with you!
11. Never Run Out of Money. It’s the most important lesson in business.
12. Attract New Customers Every Day. Awareness, Trail, and Usage work every time.
13. Be Persistent: Don’t Give Up. You only fail if you quit.
14. Build a Brand Name! Earn your reputation.
15. Opportunity Waits for No One. Good or bad, breaks are what you make them.
Congrats Fred. It’s your world, we’re just living in it. A great article on Fred here.