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Profits Aren't Everything, They're the Only Thing: No-Nonsense Rules from the Ultimate Contrarian and Small Business Guru
Small-business guru George Cloutier offers the controversial message that Profits Aren’t Everything, They’re the Only Thing in this book of wisdom for entrepreneurs everywhere in these tough economic times. With advice such as “forget teamwork” and “micromanage like crazy,” Profits Aren’t Everything, They’re the Only Thing is the reality check that will help small-business owners stay afloat and stay profitable.
- GenresBusiness
192 pages, Hardcover
First published September 15, 2009
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117 people want to read
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Displaying 1 - 17 of 17 reviews
September 29, 2014
"Business comes down to how hard you work, how smart you work, in good times and bad. Do more. Get more. And be ruthless in your quest to make money." George Cloutier (p. ix)
Cloutier is consistent with the above statement throughout his book. It is a book that Gordon Gekko would love because the relentless theme is the priority of profit and the choices a business person must make to keep and maximize it.
His no-nonsense rules are spot on: monitor your numbers and manage your cash flow closely as it is the lifeblood of the business. Fight hard for every sale, weed out bad performers quickly, manage your collections and payables to your advantage, and reward profitability. He forces readers to face the reality of their actions on the success or stagnation of the business when they are tempted to blame the markets, economy, or others. Focusing on collections and managing the budget are practical knowledge but businesses will take their focus off of it to their detriment. Nothing new here but my experience has been that some businesses fail to execute proper management of these pitfalls.
His section for family business ("the best family business has one member" is worth considering for any family-based business. I have seen the negative effects he desribes on non-family employees in certain businesses I have been involved with in the past.
The author supports a compensation structure that is built partially, or in some cases completely, on performance goals. Sales, he says, should be 100% on performance as salary for sales positions often creates mediocrity. However, he also states that the boss has to be a tyrant and the rule for employees is "Don't think, obey." My experience has been that when you hire the right employees they can often save the owner from himself. Every owner has blind spots and weaknesses and good employees can provide strength and vision to compensate for his human frailty. His Profit Rule #9 "I Am Your Work God" and #14 "Teamwork is Overrated" were difficult sections for me to read as it seems unrealistic for the business environments I have worked in. I have been in dictatorial businesses as he described an not only were they unpleasant to work in, they weren't that successful. The lord of the castle model might be perfect for certain businesses where a strong top-down hierarchy is essential for productivity and profitability and the employee primarily contributes labor, but in knowledge-based industries I think this approach would lead to consistent employee dissatisfaction and turnover. The average professional would probably like to to invest in his business but would likely hate working for him.
I'm sure his Profit Rule #4 "Love Your Business More Than Your Family" will guarantee high profits. He states that you must make the choice between your business and maximizing profits or living in financial mediocrity because of outside decisions. Either way, he says, you must make peace with your decision. If you spend time in worship then do it but get back to the business. Remember your competitors are relaxing but you can use it to build up your business and maximize your profits. He does allow that you can spend time on other pursuits when your business flourishes though I doubt that someone who has sacrificed his family, true spiritual growth, and service to others will reach a point where he feels he can do so. If a person follows the author's advice, I hope he does not marry, and certainly does not have kids, so they will not feel the abandonment or neglect that would be the product of such a narrow focus.
I have chosen to be less successful than I could be (though I am considered quite successful in business) to have a close relationship with my wife and kids, serve others, and enjoy life as I live it. I have known too many who have died long before retirement who sacrificed today for a tomorrow that never came. While I can recommend much of this book I think the short-sighted thinking in this section will make a person miserable in the final review of life regardless of how popular, rich, and profitable he is.
Maybe you can't have it all, but it is better to have the things that really matter in life. The most profitable things in a person's life will not be found on a balance sheet.
Cloutier is consistent with the above statement throughout his book. It is a book that Gordon Gekko would love because the relentless theme is the priority of profit and the choices a business person must make to keep and maximize it.
His no-nonsense rules are spot on: monitor your numbers and manage your cash flow closely as it is the lifeblood of the business. Fight hard for every sale, weed out bad performers quickly, manage your collections and payables to your advantage, and reward profitability. He forces readers to face the reality of their actions on the success or stagnation of the business when they are tempted to blame the markets, economy, or others. Focusing on collections and managing the budget are practical knowledge but businesses will take their focus off of it to their detriment. Nothing new here but my experience has been that some businesses fail to execute proper management of these pitfalls.
His section for family business ("the best family business has one member" is worth considering for any family-based business. I have seen the negative effects he desribes on non-family employees in certain businesses I have been involved with in the past.
The author supports a compensation structure that is built partially, or in some cases completely, on performance goals. Sales, he says, should be 100% on performance as salary for sales positions often creates mediocrity. However, he also states that the boss has to be a tyrant and the rule for employees is "Don't think, obey." My experience has been that when you hire the right employees they can often save the owner from himself. Every owner has blind spots and weaknesses and good employees can provide strength and vision to compensate for his human frailty. His Profit Rule #9 "I Am Your Work God" and #14 "Teamwork is Overrated" were difficult sections for me to read as it seems unrealistic for the business environments I have worked in. I have been in dictatorial businesses as he described an not only were they unpleasant to work in, they weren't that successful. The lord of the castle model might be perfect for certain businesses where a strong top-down hierarchy is essential for productivity and profitability and the employee primarily contributes labor, but in knowledge-based industries I think this approach would lead to consistent employee dissatisfaction and turnover. The average professional would probably like to to invest in his business but would likely hate working for him.
I'm sure his Profit Rule #4 "Love Your Business More Than Your Family" will guarantee high profits. He states that you must make the choice between your business and maximizing profits or living in financial mediocrity because of outside decisions. Either way, he says, you must make peace with your decision. If you spend time in worship then do it but get back to the business. Remember your competitors are relaxing but you can use it to build up your business and maximize your profits. He does allow that you can spend time on other pursuits when your business flourishes though I doubt that someone who has sacrificed his family, true spiritual growth, and service to others will reach a point where he feels he can do so. If a person follows the author's advice, I hope he does not marry, and certainly does not have kids, so they will not feel the abandonment or neglect that would be the product of such a narrow focus.
I have chosen to be less successful than I could be (though I am considered quite successful in business) to have a close relationship with my wife and kids, serve others, and enjoy life as I live it. I have known too many who have died long before retirement who sacrificed today for a tomorrow that never came. While I can recommend much of this book I think the short-sighted thinking in this section will make a person miserable in the final review of life regardless of how popular, rich, and profitable he is.
Maybe you can't have it all, but it is better to have the things that really matter in life. The most profitable things in a person's life will not be found on a balance sheet.
September 21, 2017
This book a good read but it has to be taken in context. It's written by someone that runs a turnaround company so by definition extreme measures are required to save the company. It was also written in 2009 in the great recession when thousands of businesses were failing. Without a doubt the measures advocated here are appropriate in that context and maximize profits and cash flow, but many small business owners that are not in that position are willing to trade off some profits and cash flow to pay their vendors on time and have some quality of life. In that regard to say that this book is applicable to all businesses in all contexts is not correct, but if I ever need a primer on the tactics employed by a turnaround specialist this is it.
October 17, 2012
As advertised, this is a "no-nonsense" read with some controversial/unpopular suggestions.
Ask yourself:
Do you take responsibility for every aspect of your business? Don't blame employees when they don't do something right. You're the boss. You're the one who has to make sure things go well. If something goes wrong, it's your fault. Make that your attitude and you'll start to see fewer and fewer mistakes. And if someone is making too many mistakes or isn't pulling their weight, let them go!
Do you love your business as much as your family? You should. If your wife or child were in a crisis, wouldn't you do everything imaginable to help them out?
Do you play golf? Stop. That's time you could be spending with the business.
Do you work on Sundays? If not, why not? I know most people are off on Sundays, but you could be grabbing business that others are losing because they're at home being lazy. Use the day to go on sales calls. Meet prospective clients or customers. Make your business grow.
Do your workers respect you? I didn't say "LIKE" you. I said "RESPECT" you. Because if you're making money, they're making money, and money gets everyone's respect.
Are you aware of all of your customers and their needs? As a CEO I want to know who called and when, what they wanted, what they bought, how we helped them, how we didn't, what they liked, and what they didn't. You must micromanage and then micromanage some more. With a small business you have to know everything that's going on all the time.
Does your ego get the best of you? Never rest on yesterday's sales. You must try harder than yesterday and harder still tomorrow. Exorcise the ego.
Are you clear in your orders? When you say something, say it with conviction and stand by it. YOU are the boss.
Do you pay for performance? Money talks! Workers work better when they know they'll be rewarded. If someone does a good job, encourage it. If they do a bad job, punish them. Weed out the ones who are not serious about making your business as successful as it can be.
Do you pay yourself well? Always pay yourself first. If you're not happy with your salary, you know there's more work to do. Vendors don't care about you. They can wait for their money. They aren't going anywhere.
Are you a defeatist? Never, EVER talk yourself into a negative position. It's easy to say "Oh, the economy is down," "Everyone is hurting," or "I need a rest." If you find yourself making these excuses, it's time to work harder. You'll be surprised at the energy that comes when your hard work starts paying off.
Are you satisfied? You shouldn't be. There's always some way to make things better. It's that little extra that makes the difference between just another struggling business and a resounding success. Failure isn't an option. Commit to doing whatever it takes. Decide how much profit you want to make. Focus on it. Don't wish for it or imagine what it would be like. Force it into reality. Fight for every sale. Learn to love winning.
Flash Report 1: Profits Are the Only Thing
Run your business by the numbers. Profits and cash are the only true measure of the health of your business.
Do a profit and loss statement weekly.
Focus on cash flow and expenses NOW. If money is tight, cut costs viciously. Then cut some more.
Collect on those receivables. Make sure profits on the books translate into cash in the bank.
Flash Report 2: End Denial
Snap out of your coma today. Open the books, look at where you are financially and face reality: profits are not what they should be.
Look for red flags.
Eat your vegetables first. Procrastination is denial's best friend. If there's someone you need to fire, deal with it!
Take the truth test: Ask yourself honestly where you think the business is doing well, and where you need major surgery.
Ask your managers to do the same, anonymously. You might be surprised by their answers.
Flash Report 3: Forget Sweat Equity
For small business owners, what venture capitalists call "sweat equity" is no more than working for nothing and being a fool.
Take care of yourself first and the rest will follow. You can't lead the way if you're behind the pack.
If things are tight, don't be the only one to take a pay cut. You're not in business to be everyone else's benefactor.
If you can't afford to pay yourself the first few cents of every dollar, there's something seriously wrong in your business model. Fix it!
Money talks. Show who's boss by paying yourself like one.
Remember, there are no rich martyrs.
Flash Report 4: Love Your Business More Than Your Family
The same goes for church, charity, and other worthy pursuits.
Your business is not a part-time job. Be fully committed and ready to put in the hours.
Cutting out early for little Suzy's ballet recital won't cut it. She'll pout and stamp her feet now, but she'll thank you later when you can pay for college.
Don't work from home unless you can be fully focused.
Weekends are for work. Feel free to go to church, mosque, or temple; then get your behind straight back to the office. Better yet, pray at your desk.
Be there, or be broke.
Flash Report 5: The Best Family Business Has One Member
Blood and business don't mix. It's a recipe for office dysfunction.
Don't restrict yourself to a pool of untalented brothers, sisters, sons, daughters, or in-laws for key roles. Go outside the bloodline and do a real search for the most qualified job candidates.
Gifted members of the lucky sperm club are rare.
If you're worried about how Junior is going to pay his bills, parole him with pay, then change the locks on your office door. You'll save money in the end.
Firing family members might cause strife, but they'll end up thanking you for creating the legacy of a business that's thriving without them.
Flash Report 6: Delegate, Don't Abdicate
Micromanage, and micromanage some more.
Don't delegate to the point of abdication. Catch the errors before they happen, because bad mistakes are too costly in small business.
Use flash reports: one-sheeters that give you daily updates on the status of each flashpoint in your business.
Delegate, but verify. Trust no one.
Never hand over the reins, no matter how senior the employee.
Wear your control freak badge with pride!
Flash Report 7: Live and Die by a Real Plan
Think about where you stand on your financial and operating plan every day of the week.
Estimate your profits for the year ahead and set that money aside.
15 cents profit for you; 85 cents for the business. Or 10 cents and 90...whatever the top of your industry happens to be.
Put profits first always. Don't accept the mere leftovers or residual budgeting.
If you're having a bad year, adjust expenses accordingly and never spend beyond the original plan. Save to earn.
Let employees know the plan and hold them accountable to it. Give them financial incentives to exceed expectations for budgets and timelines.
Clear up the muddy math and expose your profit leaks.
Flash Report 8: Pay for Performance
No more raises. Freeze your salaries now.
Everyone should be on 30 percent to 100 percent pay for performance, especially your outside sales team.
The whiners can walk. The winners know they'll make more money this way, and they're the ones you want to keep.
Fire and hire faster. Don't tolerate mediocrity.
Review performance monthly and quarterly and adjust pay accordingly. Pay for performance isn't some year-end bonus entitlement.
Don't be shy about deducting points for failure to deliver. Hit 'em where it counts: in their wallets.
Flash Report 9: "I Am Your Work God"
Be a tyrant. Graduate from the "Tough Love" school of management. Your word must be absolute.
Tell your employees: "Don't think, obey." You want them to do what you say, not what they think.
Brook no deviation; accept no excuses.
It's okay if your employees don't like you, as long as they respect you. Earn it by getting in the trenches with them.
Remember, fear (of not having a job) is the best motivator.
Don't act like a king; be a general and command the respect you demand with a clear direction and a precise operational plan.
Flash Report 10: You Are Not in Business to Pay Your Vendors
Never pay your vendors on time.
Stretch out payments from thirty days to sixty days and ninety days, and then pay a few days late again.
Your vendors are your best source of interest-free financing. Use them aggressively.
Keep a list of A-list, B-list, and C-list vendors. The most important suppliers and service providers get paid first, but still late.
Be honest and fair. Don't duck calls. Be a diplomat: get on the phone to stall and negotiate, politely. You'll be surprised what you can get out of them, especially in a recession.
Same goes for rent. You won't get evicted if you're thirty days late. Your landlord needs to keep you as a tenant as much as your business needs its four walls.
Flash Report 11: When Filing for Bankruptcy Is Your Best Option, Do It Early!
Timing is everything in a successful Chapter 11 Reorganization.
Make sure you have enough assets and sources of income left to survive and rebuild your business.
Get over the shame of it and put survival first.
See Chapter 11 for what it is: a legal and financial maneuver that will help you deal with a tsunami of debt.
Don't let the bankruptcy lawyers mystify you. The law is not that complicated. It freezes most of your debt in place and gives you the breathing room to rebuild.
Chapter 11 takes time, hard work, and sacrifice, but you'll come out stronger.
Flash Report 12: Don't Treat Sales Like Your Mother-In-Law
Don't view sales like an unwanted guest. Focusing on sales is the easiest way to grow your business in good times and sustain it in bad times.
Get out from behind your desk, roll up your sleeves, and shill!
Collect names and build a database of customers.
Expand your geographical footprint and diversify so you're not dependent on one big company for the bulk of business.
Breathe down the neck of your sales team. Go on sales calls with them. If they're not performing, fire them.
Wrap your clients in a warm and fuzzy cocoon. If you don't, and your top sales guy leaves and takes your customers with him, shame on you!
Stop being "fat, dumb, and happy." Get lean and hungry. It's time to fight for every last dollar!
Flash Report 13: Give Up Golf, Retreats, Off-Sites, and Trade Shows
It's a waste of time. So are conventions, trade shows, planning retreats...
No real business gets done at a trade show. It's just a flimsy excuse for a paid vacation.
Let your competition play golf while you stay in the office stealing their customers.
If you must play golf, do it after-hours. But you'll be better off putting your country club dues back into your business.
Be wary of any activity that takes you and your employees away from work. Payroll is too expensive to squander on useless activities.
And for God's sake, skip the motivational seminars! Money doesn't care how warm and fuzzy you feel.
Flash Report 14: Forget Teamwork
A team is only as strong as its weakest link.
There is no "$" in team, just mediocrity and excuses.
Focus on individual performance. Your employees are answerable to you, not to each other.
Team meetings should be quick and informational, not motivational. Group hugs don't improve performance.
Employees crave strong leadership and structure.
Don't encourage diverse opinions. It's a business, not a democracy.
Flash Report 15: It's Not the Economy, Stupid, It's You!
Don't use the recession as an excuse. If you're not surviving it's because you weren't doing all that you should have during better times.
Resist the bunker mentality. If you wait until the tide turns you will drown.
Take action. Cut costs, get aggressive about sales, and fire mediocre workers.
Continue to invest in areas of your business that will generate growth, like telemarketing.
Don't play the victim. As long as your business still has a pulse, it's in your power to turn things around.
Follow my Profit Rules and you'll survive and thrive.
Ask yourself:
Do you take responsibility for every aspect of your business? Don't blame employees when they don't do something right. You're the boss. You're the one who has to make sure things go well. If something goes wrong, it's your fault. Make that your attitude and you'll start to see fewer and fewer mistakes. And if someone is making too many mistakes or isn't pulling their weight, let them go!
Do you love your business as much as your family? You should. If your wife or child were in a crisis, wouldn't you do everything imaginable to help them out?
Do you play golf? Stop. That's time you could be spending with the business.
Do you work on Sundays? If not, why not? I know most people are off on Sundays, but you could be grabbing business that others are losing because they're at home being lazy. Use the day to go on sales calls. Meet prospective clients or customers. Make your business grow.
Do your workers respect you? I didn't say "LIKE" you. I said "RESPECT" you. Because if you're making money, they're making money, and money gets everyone's respect.
Are you aware of all of your customers and their needs? As a CEO I want to know who called and when, what they wanted, what they bought, how we helped them, how we didn't, what they liked, and what they didn't. You must micromanage and then micromanage some more. With a small business you have to know everything that's going on all the time.
Does your ego get the best of you? Never rest on yesterday's sales. You must try harder than yesterday and harder still tomorrow. Exorcise the ego.
Are you clear in your orders? When you say something, say it with conviction and stand by it. YOU are the boss.
Do you pay for performance? Money talks! Workers work better when they know they'll be rewarded. If someone does a good job, encourage it. If they do a bad job, punish them. Weed out the ones who are not serious about making your business as successful as it can be.
Do you pay yourself well? Always pay yourself first. If you're not happy with your salary, you know there's more work to do. Vendors don't care about you. They can wait for their money. They aren't going anywhere.
Are you a defeatist? Never, EVER talk yourself into a negative position. It's easy to say "Oh, the economy is down," "Everyone is hurting," or "I need a rest." If you find yourself making these excuses, it's time to work harder. You'll be surprised at the energy that comes when your hard work starts paying off.
Are you satisfied? You shouldn't be. There's always some way to make things better. It's that little extra that makes the difference between just another struggling business and a resounding success. Failure isn't an option. Commit to doing whatever it takes. Decide how much profit you want to make. Focus on it. Don't wish for it or imagine what it would be like. Force it into reality. Fight for every sale. Learn to love winning.
Flash Report 1: Profits Are the Only Thing
Run your business by the numbers. Profits and cash are the only true measure of the health of your business.
Do a profit and loss statement weekly.
Focus on cash flow and expenses NOW. If money is tight, cut costs viciously. Then cut some more.
Collect on those receivables. Make sure profits on the books translate into cash in the bank.
Flash Report 2: End Denial
Snap out of your coma today. Open the books, look at where you are financially and face reality: profits are not what they should be.
Look for red flags.
Eat your vegetables first. Procrastination is denial's best friend. If there's someone you need to fire, deal with it!
Take the truth test: Ask yourself honestly where you think the business is doing well, and where you need major surgery.
Ask your managers to do the same, anonymously. You might be surprised by their answers.
Flash Report 3: Forget Sweat Equity
For small business owners, what venture capitalists call "sweat equity" is no more than working for nothing and being a fool.
Take care of yourself first and the rest will follow. You can't lead the way if you're behind the pack.
If things are tight, don't be the only one to take a pay cut. You're not in business to be everyone else's benefactor.
If you can't afford to pay yourself the first few cents of every dollar, there's something seriously wrong in your business model. Fix it!
Money talks. Show who's boss by paying yourself like one.
Remember, there are no rich martyrs.
Flash Report 4: Love Your Business More Than Your Family
The same goes for church, charity, and other worthy pursuits.
Your business is not a part-time job. Be fully committed and ready to put in the hours.
Cutting out early for little Suzy's ballet recital won't cut it. She'll pout and stamp her feet now, but she'll thank you later when you can pay for college.
Don't work from home unless you can be fully focused.
Weekends are for work. Feel free to go to church, mosque, or temple; then get your behind straight back to the office. Better yet, pray at your desk.
Be there, or be broke.
Flash Report 5: The Best Family Business Has One Member
Blood and business don't mix. It's a recipe for office dysfunction.
Don't restrict yourself to a pool of untalented brothers, sisters, sons, daughters, or in-laws for key roles. Go outside the bloodline and do a real search for the most qualified job candidates.
Gifted members of the lucky sperm club are rare.
If you're worried about how Junior is going to pay his bills, parole him with pay, then change the locks on your office door. You'll save money in the end.
Firing family members might cause strife, but they'll end up thanking you for creating the legacy of a business that's thriving without them.
Flash Report 6: Delegate, Don't Abdicate
Micromanage, and micromanage some more.
Don't delegate to the point of abdication. Catch the errors before they happen, because bad mistakes are too costly in small business.
Use flash reports: one-sheeters that give you daily updates on the status of each flashpoint in your business.
Delegate, but verify. Trust no one.
Never hand over the reins, no matter how senior the employee.
Wear your control freak badge with pride!
Flash Report 7: Live and Die by a Real Plan
Think about where you stand on your financial and operating plan every day of the week.
Estimate your profits for the year ahead and set that money aside.
15 cents profit for you; 85 cents for the business. Or 10 cents and 90...whatever the top of your industry happens to be.
Put profits first always. Don't accept the mere leftovers or residual budgeting.
If you're having a bad year, adjust expenses accordingly and never spend beyond the original plan. Save to earn.
Let employees know the plan and hold them accountable to it. Give them financial incentives to exceed expectations for budgets and timelines.
Clear up the muddy math and expose your profit leaks.
Flash Report 8: Pay for Performance
No more raises. Freeze your salaries now.
Everyone should be on 30 percent to 100 percent pay for performance, especially your outside sales team.
The whiners can walk. The winners know they'll make more money this way, and they're the ones you want to keep.
Fire and hire faster. Don't tolerate mediocrity.
Review performance monthly and quarterly and adjust pay accordingly. Pay for performance isn't some year-end bonus entitlement.
Don't be shy about deducting points for failure to deliver. Hit 'em where it counts: in their wallets.
Flash Report 9: "I Am Your Work God"
Be a tyrant. Graduate from the "Tough Love" school of management. Your word must be absolute.
Tell your employees: "Don't think, obey." You want them to do what you say, not what they think.
Brook no deviation; accept no excuses.
It's okay if your employees don't like you, as long as they respect you. Earn it by getting in the trenches with them.
Remember, fear (of not having a job) is the best motivator.
Don't act like a king; be a general and command the respect you demand with a clear direction and a precise operational plan.
Flash Report 10: You Are Not in Business to Pay Your Vendors
Never pay your vendors on time.
Stretch out payments from thirty days to sixty days and ninety days, and then pay a few days late again.
Your vendors are your best source of interest-free financing. Use them aggressively.
Keep a list of A-list, B-list, and C-list vendors. The most important suppliers and service providers get paid first, but still late.
Be honest and fair. Don't duck calls. Be a diplomat: get on the phone to stall and negotiate, politely. You'll be surprised what you can get out of them, especially in a recession.
Same goes for rent. You won't get evicted if you're thirty days late. Your landlord needs to keep you as a tenant as much as your business needs its four walls.
Flash Report 11: When Filing for Bankruptcy Is Your Best Option, Do It Early!
Timing is everything in a successful Chapter 11 Reorganization.
Make sure you have enough assets and sources of income left to survive and rebuild your business.
Get over the shame of it and put survival first.
See Chapter 11 for what it is: a legal and financial maneuver that will help you deal with a tsunami of debt.
Don't let the bankruptcy lawyers mystify you. The law is not that complicated. It freezes most of your debt in place and gives you the breathing room to rebuild.
Chapter 11 takes time, hard work, and sacrifice, but you'll come out stronger.
Flash Report 12: Don't Treat Sales Like Your Mother-In-Law
Don't view sales like an unwanted guest. Focusing on sales is the easiest way to grow your business in good times and sustain it in bad times.
Get out from behind your desk, roll up your sleeves, and shill!
Collect names and build a database of customers.
Expand your geographical footprint and diversify so you're not dependent on one big company for the bulk of business.
Breathe down the neck of your sales team. Go on sales calls with them. If they're not performing, fire them.
Wrap your clients in a warm and fuzzy cocoon. If you don't, and your top sales guy leaves and takes your customers with him, shame on you!
Stop being "fat, dumb, and happy." Get lean and hungry. It's time to fight for every last dollar!
Flash Report 13: Give Up Golf, Retreats, Off-Sites, and Trade Shows
It's a waste of time. So are conventions, trade shows, planning retreats...
No real business gets done at a trade show. It's just a flimsy excuse for a paid vacation.
Let your competition play golf while you stay in the office stealing their customers.
If you must play golf, do it after-hours. But you'll be better off putting your country club dues back into your business.
Be wary of any activity that takes you and your employees away from work. Payroll is too expensive to squander on useless activities.
And for God's sake, skip the motivational seminars! Money doesn't care how warm and fuzzy you feel.
Flash Report 14: Forget Teamwork
A team is only as strong as its weakest link.
There is no "$" in team, just mediocrity and excuses.
Focus on individual performance. Your employees are answerable to you, not to each other.
Team meetings should be quick and informational, not motivational. Group hugs don't improve performance.
Employees crave strong leadership and structure.
Don't encourage diverse opinions. It's a business, not a democracy.
Flash Report 15: It's Not the Economy, Stupid, It's You!
Don't use the recession as an excuse. If you're not surviving it's because you weren't doing all that you should have during better times.
Resist the bunker mentality. If you wait until the tide turns you will drown.
Take action. Cut costs, get aggressive about sales, and fire mediocre workers.
Continue to invest in areas of your business that will generate growth, like telemarketing.
Don't play the victim. As long as your business still has a pulse, it's in your power to turn things around.
Follow my Profit Rules and you'll survive and thrive.
March 1, 2022
Pozycja jest przeznaczona w głównej mierze dla przedsiębiorców oraz ludzi, którzy planują otworzyć swój biznes. Autor na podstawie innych historii tłumaczy jak należy prowadzić firmę, aby przez wiele lat była w znakomitej kondycji. Autor na podstawie swojego 30 letniego doświadczenia pokazuje analizę różnych przypadków i podaje konkretne rady na rozwiązanie problemów i zwiększenie obrotów💰
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✔️15 zasad zysku
✔️Jak ważne jest wynagradzanie siebie jako szefa
✔️Jak przywrócić i utrzymać płynność finansową firmy
✔️Jakie błędy najczęściej popełnia przedsiębiorca i jak ich unikać
✔️Jak wychwytywać sygnały alarmowe w swojej firmie
•
Ponadto podczas lektury musicie przygotwać się na bezpośredni, dosadny i kontrowersyjny styl Autora. Nie akceptuje on półśrodków ani częściowej poprawy. Wszystko traktuje zero-jedynkowo, co podczas czytania było dla mnie dość dużym zaskoczeniem. Nie ubiera w ładne, miłe słówka sytuacji, które doprowadzają do degradacji firmy. Nie zawsze jest to komfortowe, ale wiem że właśnie takie podejście daje lepsze rezultaty, niż klepanie po plecach za każdym razem🙌🏻
•
Zatem jeśli prowadzisz biznes lub będziesz prowadził, to znajdź czas na zapoznanie się z tą lekturą! Pomoże Ci ona już na starcie wyeliminować podjecie błędnych decyzji i zadba o Twój komfort psychiczny w takcie prowadzenia swojej firmy😌
Warto sięgać po tak dobitne tytuły, które skłaniaja do myślenia i zmian na lepsze 💪🏻
•
W tej pozycji znajdziecie przede wszystkim:
✔️15 zasad zysku
✔️Jak ważne jest wynagradzanie siebie jako szefa
✔️Jak przywrócić i utrzymać płynność finansową firmy
✔️Jakie błędy najczęściej popełnia przedsiębiorca i jak ich unikać
✔️Jak wychwytywać sygnały alarmowe w swojej firmie
•
Ponadto podczas lektury musicie przygotwać się na bezpośredni, dosadny i kontrowersyjny styl Autora. Nie akceptuje on półśrodków ani częściowej poprawy. Wszystko traktuje zero-jedynkowo, co podczas czytania było dla mnie dość dużym zaskoczeniem. Nie ubiera w ładne, miłe słówka sytuacji, które doprowadzają do degradacji firmy. Nie zawsze jest to komfortowe, ale wiem że właśnie takie podejście daje lepsze rezultaty, niż klepanie po plecach za każdym razem🙌🏻
•
Zatem jeśli prowadzisz biznes lub będziesz prowadził, to znajdź czas na zapoznanie się z tą lekturą! Pomoże Ci ona już na starcie wyeliminować podjecie błędnych decyzji i zadba o Twój komfort psychiczny w takcie prowadzenia swojej firmy😌
Warto sięgać po tak dobitne tytuły, które skłaniaja do myślenia i zmian na lepsze 💪🏻
January 22, 2023
Honestly I only got about 36 pages in and realized this book was not the book for me. If you're single with no children then this is the book for you. He made that abundantly clear in this chapter. If you're not willing then give up family and well basically any kind of life at all then being a successful business owner isn't for you. I find it hard to believe that this chapter had such an extremely misogynistic point of view considering it was published in 2009.
February 2, 2020
Good advice, although I disagreed on some points.
December 8, 2022
Thanks, I hate the capitalist hellscape we live in.
September 19, 2024
If I could give it zero stars I would. Completely out of touch with reality.
December 28, 2024
Randomly picked this book up at a used book sale, and it was a surprisingly great read. Had my brain racing with new business ideas.
April 27, 2010
A great book that tells it like it is. Mr. Cloutier dose not pull any punches and makes the reader stand up and take notice that the only reason that their small business is failing is their own fault. It may me look at myself and the way I run my small business with new eyes. I recommend it to any and all small business owners! I would love to see author George Cloutier write a book about personal finance using the same in your face attitude…
September 11, 2012
My kind of book ... blunt and to the point. 15 "Profit Rules", each of which was a chapter. Great book for pointing you in the right direction and motivating you to action. The writing is direct, but I wish there had been a bit more "how to" specifics.
The biggest takeaways:
* You must be accountable for the performance of your business, regardless of the external issues it is facing.
The biggest takeaways:
* You must be accountable for the performance of your business, regardless of the external issues it is facing.
August 16, 2023
Nothing brilliant or earth-shattering in here, but a lot of the advice is practical and useful. Some people take issue with the author's contrarian approach. I thought it was refreshing. The book was too short and too short on specifics, I thought, though.
January 24, 2015
I was not impressed with the negative ways to facilitate and manage your business and cannot embrace this methodology for success. I am sure if practiced, you will produce results however living with the Karma could prove to be detrimental to your character and health.
January 6, 2013
I am a small business owner and this book was a real eye-opener. It should be required reading for every small business owner.
March 29, 2016
Harsh but enlightening. Don't agree with a lot of it, but appreciate the premise - without a profit there's no point.
June 12, 2016
some great points about making sure everyone is working towards the same goal, but he felt very unlikable. Being liked isn't job 1, but I felt sad after reading this.
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October 15, 2017disgusting
Displaying 1 - 17 of 17 reviews