An entrepreneur must-read: The book I wish I read 10 years ago

I recently read the book How to Grow Your Small Business: A 6-Step Plan to Help Your Business Take Off by Donald Miller and was captured from beginning to end, savouring every morsel of bite-sized nourishing insights.?

Donald has been reading my mail, and knows my pain-points.

Scary but true. It’s as if he’s been looking over my shoulder taking notes on areas for improvement. A digital mentor if you like.

The consistent thought in my head … “where was this book 10 years ago when I really needed it” … followed by … “imagine where I would be today.”?

It's a healthy regret as I recognise these simple yet valuable truths from Donald.

In fact I was so enamoured by this book that I immediately started recommending it to my network of business-minded friends. I took it a step further and added it to the KPIs of our key team so that we can align on its principles and implementation.?I know right, HECTIC.

I have to say from the outset that the biggest challenge with the book is that the truths are so very simple they can be easily dismissed as overly basic. ?

It’s in the implementation that you see the fruit.?

As part of buying the audible or kindle version of the book, you are given access to blank versions of the playbooks to work through with your team.

The other hurdle to overcome in sharing its value is the “Small Business” description, because how does this apply when you are in a large corporate environment? While a valid concern, this book gives an excellent overview of all the key foundational pillars that small business owners wrestle with to be successful or even to survive.

Having this knowledge arms you with empathy and input on how to engage with other divisions in a larger organisation. Moreover, there are likely to be actionable insights relevant to your everyday work life that will empower you to be a better professional.

The book is likened to an airplane highlighting six parts needed to fly:

Leadership is leading the charge in the cockpit with a clear mission statement upheld by three key economic objectives. Marketing is your right engine and Sales your left engine, while cash flow is your fuel tanks. Stating the obvious, without good cash flow management, your plane will crash and burn.?A sad but real truth for many small businesses.

According to the U.S. Bureau of Labor Statistics, more than 20% of small businesses in the U.S. end up failing within a year. After five years, around 50% fail, and after 10 years, only 30% are still running.

Typically what happens over time for many small businesses is that they tend to take on more support staff to help take things forward. At the same time, business owners get pulled into the trenches and don’t focus enough on the sales and marketing engines. With this burden of extra labour and limited sales and marketing efforts, the plane becomes wider with small engines. You can picture a wide plane with small wings. Not exactly optimised to go the distance.

With the benefit of the practical playbooks, you can start to implement the strategies to take your small business to the next level.?

Many of the playbooks can be actioned immediately, while others will take time. If you give it proper priority and attention, you can probably have the key principles implemented within three months, worst case six months.? From there you can monitor and tweak for improvements.

I decided to jump in the deep end and signed up for the smallbusinessflightplan.com which gives you videos and tools to help you navigate your journey with support. In my view, it’s money well spent and I have watched relevant videos with our key team to capture the essence of the principle that generates important conversations.?I found it easier to get buy-in that way.

You don’t have to be the guru, but you can stream the guru on the topics that need focus.

I have a huge heart for small business owners and solopreneurs, knowing how hard it can be to be successful in our modern day global and competitive world.

It’s brutal out there and the need to have a handle on multiple areas of the business, almost simultaneously is very demanding.? This book will equip you to be a better leader and dramatically improve your chances of being part of a successful business.

In summary, in my view, the book delivers on its promise to:

• Cast a vision for your company that includes three economic priorities
• Clarify your marketing message
• Install a sales framework that makes your customers the hero
• Optimise your product offering (or productise your service offering)
• Run a management and productivity playbook that aligns your entire team.
• Better manage your cash flow

Have a read and tell me what you think. I am cheering you on to be part of the minority by winning at business and in turn helping others be successful.