In the second Success Paths business books series, Ted Clifton gives you a personal view of how to be a successful owner of a small business. First is what you should do to start a business. Next are guidelines on what the owner needs to know to run a successful business. How to Start and Run a Successful Small Business is a conversation between you, the future business owner, and Ted Clifton, a seasoned professional, CPA, business owner, and small business advisor, about the elements that contribute to success. This is not business school textbook stuff, but real-world knowledge and honesty.
Two biggest factors in a successful small business are money and luck. The more money, the more likely you succeed! Well, duh! Everybody knows that-they do, but they go ahead and open on a shoestring anyway. They will need lots of luck. Most small business owners will run into some bumps along the way to a successful business, some of that money will be necessary to smooth out those bumps. Where is the money, how can you get some? Clifton will be candid and tell you the most important things you will need to know.
Managing your own business is not the same as working for someone else. As an employee, much of the headache of owning your own business was not visible to you. Clifton tells you what to look for, how to deal with employees, advertising, marketing, numbers. Yes, numbers. Another key to success is to understand the numbers that tell you how your business is performing. What are Key Performance Indicators, KPIs? Each business will have its own KPIs, and Clifton explains these and gives examples. He advises that you should plan before you leap into a new business. This book is part of that plan.