Hello Everyone
I have just finished reading the book, "Escape from Cubicle Nation" by Pamela Slim. This book is on my reading list which comes from Josh Kaufman via his PMBA reading list (http://personalmba.com/best-business-books/).
If you are a person that is thinking of becoming an entrepreneur, this is a good book to read. Pamela has captured many essential points you should think of before you take the leap. If in your mind you are ready to take the plunge, she provides many good points that you should have thought of before you run, run, run.
If you are married, you need your spouse on your side, pulling for you and not impeding you. You must have the conversation with them as you are thinking of doing this and continue to converse with them to ensure they back you up. The two of you must be on the same page and there are many good points that Pam brings forward in the book.
Pamela had many good points that I could go on an on about. Instead of regurgitating them, I urge you to read the book yourself (You can buy if from Amazon: http://amzn.to/9GRVR0) . I will point out some good topics that were of particular interest to me.
One of the biggest fears of taking the leap to an entrepreneur is the Fear of Failing. Fear is a natural instinct within us and it is something that you should harness so it will work for you and not against you:
- Examine the truth of the fear.
- Get comfortable with being uncomfortable.
- Develop a strong safety net.
Passion. Summed up in one word what entrepreneurs answer is the critical ingredient in business models. So, when you really feel enthusiastic about what you are doing, it is not work, it is like play. You will not even notice time fly by. So, passion is the key!
Would you like Fries with that? An interesting concept she had in her book. This refers to coming up with truly useful add-ons that won't be a huge price burden for the customer. Example: when a customer buys a router, ask them, "Would you like fries with that?" and watch them add ten dongles to their purchase. Would you like fries with that wOOush (dongle).
Another good point Pamela brings up is "The Fatal Assumption". This is attributed to Michael Gerber in he book called "The E-Myth" which describes "Why most small businesses don't work and that to do about it".
The Fatal Assumption is: If you understand the technical part of the business, you understand a business that does technical work".
The reason it is fatal is that it just is not true. In fact, it is the root cause of most small business failures. The technical work of a business and a business that does that work are two totally different things. Example: the engineer goes into the semiconductor business; the technical writer starts a technical writing business.
These people believe that by understanding the technical work of the business they are immediately and eminently qualified to run a business that does that kind of work.
This is simply not true!
Pamela also has some good insights on "Signs your Business idea Might be Feasible or Might be an Expensive Hobby". I would suggest going over this to help guide you.
As you move forward from employee to entrepreneur, ensure you have a team that you call on. You will need people to talk with regularly and bounce ideas off of. Other people you can use them as resources as they will have expertise in an area you are not, you can use them for idea generation, etc. Having people with you for the journey makes it easier on yourself.
Pamela references Guy Kawasaki and he has some good advice in the book, "The Art of the Start". This is in regards to "Make Meaning". The truth is that no one really knows if he is an entrepreneur until he becomes one - and sometimes not even then. There really is only one question you should ask yourself before starting any new venture:
Do I Want To Make Meaning?
Meaning is not about making money, power or prestige. It's not even about creating a fun place to work. Among the meanings of "meaning" are to:
- Make the world a better place.
- Increase the quality of life.
- Right a terrible wrong.
- Prevent the end of something good.
To summarize, Escape from Cubicle Nation is a very practical book that is chock full of advice for people contemplating the move to becoming an entrepreneur. If you have "crossed the Rubicon" in your mind, this is still a good book to tie up loose ends and jog the memory and guide you in the beginning parts of your journey.
I hope you enjoy Escape from Cubicle Nation as much as I did.
Mark
Sunday, July 4, 2010
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