The Knack How Street Smart Entrepreneurs Learn to Handle Whatever Comes Up Summary  PDF, DOC, TXT, eBook or Kindle ePUB free


The Knack How Street Smart Entrepreneurs Learn to Handle Whatever Comes Up

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Own businesses Brodsky and Burlingham offer essential advice such as Follow the numbers that's the best way to spot problems before they become life threatening Keep focusing on your real goal it's amazingly easy to get sidetracked by secondary concerns Don't get so close to the problem that you lose all perspective Brodsky and Burlingham prove that street smarts and business acumen can be within any entrepreneur's reach. In “The Knack” Norm Brodsky shares his passion for business and explains through advice drawn from his highs and lows in business what it is that makes a company successful He starts by putting in plain words the one key metric that will make or break a business gross margin which he recommends to track by hand to really understand where it comes from His advice then runs the whole gamut of business skills including softer skills such as negotiating building relationships with customers relating to employees reacting to employee theft treating your competitors well etc He also explains why having many small customers is better than having a few big onesI found “The Knack” captivating and would recommend it not only to entrepreneurs but to anyone interested in understanding how successful business leaders must think Most of the advice is applicable beyond entrepreneurship in the corporate world or in one’s personal life The book is well written and well organized and I found the summaries at the end of each chapter very helpful I jotted down so many uotes that I think reading the whole book again will be simpler than going through my notes

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And it has made all the difference to the eight successful start ups of his career Brodsky explores this mind set every month in Inc magazine in the hugely popular column he co writes with journalist and author Bo Burlingham best known for his acclaimed book Small Giants In both their column and now their book they tell stories about real companies facing real challenges and show readers how to apply 'the knack' to their. This is book is highly recommended for those who eager to find simple and practical ways to deal with everyday challenges in business Also it opens a gate wide for new ideas of business not widely spread in the Arab World One of the authors has his own stories of failure which he shares and shows the mistakes he made and how he overcame those failures Don't miss it

Norm Brodsky ✓ 2 Free read

Two of Inc magazine's hugely popular columnists show how small business people can deal with all kinds of tricky situations People starting out in business tend to seek step by step formulas or specific rules but in reality there are no magic bullets Rather says veteran entrepreneur Norm Brodsky there's a mentality that helps street smart people solve problems and pursue opportunities as they arise He calls it 'the knack'. An easy read with good advice and concrete examples Some examples of the advice“The initial goal of any business is to survive long enough to see whether or not it's viable You never know for sure if a business is viable until you do it in the real world By viability I mean the point at which the business is generating internally the cash it needs to pay its bills”What are your goals “I'm listening for what's really motivating people Usually it's something emotional”The two most important rules for any new business1 Protect your capital2 Maintain the highest gross profit margin you are capable of achievingBeware the sales mentality It is dangerous to go after low margin sales It takes capital to support low margin sales than high margin sales “Here's the best piece of advice I can give to anyone starting a business from day one keep track of your monthly sales and gross margins by hand Don't use a computer Write down numbers broken out by product category or service type and by customer and do the math yourself using nothing sophisticated than a calculator To be successful in any business you need to develop a feel for the numbers”“I don't think any company can be considered secure until its biggest customer represents no than 10% of its sales If you do than 30% of sales with any single customer you're in trouble”“Employees should not be your social friends and your social friends should not be your employees Neither you nor they should ever forget that it's a business relationship If you do you're going to create problems for you for them and for the company”“Sales commissions cause divisions in a company and get in the way of building a team Don't pay on commission unless you have to and switch to salary plus bonus as soon as you can”

  • Hardcover
  • 274
  • The Knack How Street Smart Entrepreneurs Learn to Handle Whatever Comes Up
  • Norm Brodsky
  • English
  • 02 February 2019
  • 9781591842217

10 thoughts on “The Knack How Street Smart Entrepreneurs Learn to Handle Whatever Comes Up

  1. says:

    Although there is a great deal of valuable material in this book for those who are planning to launch a new company or have only recently done so what Norm Brodsky and Bo Burlingham provide can also be of substantial value to all other executives who also wish to establish and then sustain the kind of a company that Welch describes Their choice of a first person narrator is a wise one because it ensures an immediate and personal rapport with the reader Presumably the voice is Brodsky's but those who have read Burlingham's Small Giants will immediately realize that Brodsky speaks for both of them It should also be noted that Brodsky launched seven successful start ups and now provides a monthly column Street Smarts in Inc magazine They are impiricists whose insights are based a wealth of real world experience; they are also pragmatists who understand what worksand what doesn'tin the contemporary business world The toolbox metaphor is especially appropriate because the reader will find in this single source just about all they need to achieve and then sustain success For example in the first two chapters Brodsky and Burlingham explain how to Make the right decisions Manage cash flow properly Balance the sales mentality with the business mentality Anticipate and then prepare for changes with analytics Be resilient when countering failure and learn from it Identify root cause rather than respond only to symptoms Balance focus and discipline with resiliency Recognize answers and solutions with peripheral vision Then in Chapters Nine and Fourteen Brodsky and Burlingham explain how to Build relationships that retain your most profitable customers Help those customers to become smarter buyers by understanding your business Treat long time customers like new prospects so they won't feel taken for granted Allocate sufficient time for face time with customers Select salespeople who will be appropriate representatives of the company Determine criteria for determining who should not be hired to sell Compensate salespeople to avoid internal competition and division Involve all other employees as an extended sales force My references to how to are deliberate because all of Brodsky and Burlingham's suggestions and recommendations throughout their lively narrative are results driven They also explain various how not to's so that the reader can avoid unfavorable results As noted in the Introduction A smart person learns from his or her mistakes A wise person learns from other people's mistakes In this context I am reminded of what Peter Drucker said in a Harvard Business Review article in 1963 There is surely nothing uite so useless as doing with great efficiency what should not be done at all

  2. says:

    An easy read with good advice and concrete examples Some examples of the advice“The initial goal of any business is to survive long enough to see whether or not it's viable You never know for sure if a business is viable until you do it in the real world By viability I mean the point at which the business is generating internally the cash it needs to pay its bills”What are your goals? “I'm listening for what's really motivating people Usually it's something emotional”The two most important rules for any new business1 Protect your capital2 Maintain the highest gross profit margin you are capable of achievingBeware the sales mentality It is dangerous to go after low margin sales It takes capital to support low margin sales than high margin sales “Here's the best piece of advice I can give to anyone starting a business from day one keep track of your monthly sales and gross margins by hand Don't use a computer Write down numbers broken out by product category or service type and by customer and do the math yourself using nothing sophisticated than a calculator To be successful in any business you need to develop a feel for the numbers”“I don't think any company can be considered secure until its biggest customer represents no than 10% of its sales If you do than 30% of sales with any single customer you're in trouble”“Employees should not be your social friends and your social friends should not be your employees Neither you nor they should ever forget that it's a business relationship If you do you're going to create problems for you for them and for the company”“Sales commissions cause divisions in a company and get in the way of building a team Don't pay on commission unless you have to and switch to salary plus bonus as soon as you can”

  3. says:

    Some interesting stories though not much new material in terms of concepts I liked the book but felt the author spent a lot of time congratulating himself

  4. says:

    This has been one of the most rewarding business books that I’ve read Norm gives you examples that are relevant and easy to follow throughout the book He does an amazing job drawing a parallel between a business concept and a story There is no fluff in this book Everything written is important The lessons he has learned are a result of his mistakes He urges starting entrepreneurs to be cautious and to think critically before making any decisions Perhaps the most vital information in this book is the difference between thinking like a salesman and a business owner He highlights the importance of gross margins in a business over total revenue He also demonstrates the value in having good relationships with customers and employees This book is a great resource for entrepreneurs

  5. says:

    This is book is highly recommended for those who eager to find simple and practical ways to deal with everyday challenges in business Also it opens a gate wide for new ideas of business not widely spread in the Arab World One of the authors has his own stories of failure which he shares and shows the mistakes he made and how he overcame those failures Don't miss it

  6. says:

    Awesome book Must read for any entrepreneur The book provides hope starting a business is not that hard but at the same time it smashes your optimism with the cold harsh truth about starting your own business

  7. says:

    Wonderfully practical advice from a serial entrepreneur for those who want to start their own business Know your numbers and always keep tabs on gross margins as well as sales

  8. says:

    I loved this book He explains things so clearly it made this scary start up experience a little less daunting I'll certainly be returning to this book

  9. says:

    In “The Knack” Norm Brodsky shares his passion for business and explains through advice drawn from his highs and lows in business what it is that makes a company successful He starts by putting in plain words the one key metric that will make or break a business gross margin which he recommends to track by hand to really understand where it comes from His advice then runs the whole gamut of business skills including softer skills such as negotiating building relationships with customers relating to employees reacting to employee theft treating your competitors well etc He also explains why having many small customers is better than having a few big onesI found “The Knack” captivating and would recommend it not only to entrepreneurs but to anyone interested in understanding how successful business leaders must think Most of the advice is applicable beyond entrepreneurship in the corporate world or in one’s personal life The book is well written and well organized and I found the summaries at the end of each chapter very helpful I jotted down so many uotes that I think reading the whole book again will be simpler than going through my notes

  10. says:

    Starting a business has always been a terrifying idea Both of my parents have worked many years for others I've been watching them wake up and head to their company come home prepare food handle some house chores and go to bed all at a certain timing to prepare for another similar day We know how we lived and it seems clear that we can predict how we'll live They provide their three girls proper education with the hope that the girls can eventually live independently and freely without too many worries For many years my parents' hope is what 'future' is to me And being your own boss rarely comes in as one of the options Never underestimate yourself This is how The Knack encourages me There are people who prefer working for others but there are also people who want a particular life that just suits them This book is written for the later Being your own master will not be easy but keep your mind and heart open Don't just shy away from possible bad outcomes Nothing is wasted if you're on the way pursuing your dream

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