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The Profit Principle by Peter Fritz and Jeanne-Vida Douglas

April 11, 2012 | Comments: 0 | Views: 100

As far as business books go The Profit Principle - How to turn what you know into what you do - without spending (or borrowing) a cent! is different. It debunks everything you thought you knew about starting a business.

Most books on starting a business cover the so-called practicalities: business plan, finance, accounting, equipment and so on. Their advice is usually similar and predictable. All suggest we can't start a business without spending money first.

In fact, when I started to read it, the small business consultant part of me, kind of rebelled at some of Peter Fritz's suggestions. There are good reasons for doing things as suggested by small business advisers. But Fritz is a co-founder of TCG Group, a $1.25 billion business empire, and thought he must know a thing or two about how to start and grow a successful business. I forced myself to read on with an open mind.

In the first few pages he dispels the myth about the need to spend money to make money. Fritz says that your business isn't a business until it has customers and that it is not a successful business until using your products and services becomes habitual to those customers.

He goes on to say that the most straightforward way to start and run a business is to share both the risk and the responsibility by finding partners. And finally says that you have all the skills you need to start a business.

That is all in the first few pages. What follows is a thought-provoking read about what it really takes to start a business. It boils down the nuts and bolts about starting a business to its bare essence and makes the reader understand what your role really is in that business. Fritz is almost confronting as he outlines the raw elements you must master to be a business success.

It is an easy to read book but Fritz and Douglas take a very pointed, almost blunt approach, ensuring you sit and take notice of each and every lesson. And it does work. Should you practice what you learn, there is no doubt in my mind that your business will be a success.

After the first few pages, I hadn't expected that I would recommend this book to anyone contemplating starting a new business. But on finishing the book, I believe it be of value, even a must read, for anyone about to embark on launching their own entrepreneurial adventure.

Karen L. Paiyo is an Australian Small Business Counsellor, supporting and nurturing the spirit of entrepreneurship in the Asia Pacific Region. Karen empowers small business owners by transferring to them the skills and expertise needed to help them take their business ideas from creative concept to profitable reality, faster and with less risk.

For more small business articles, news, tips and business advice, check out her website at

Source: EzineArticles
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Article Tags:

Small Business Startup


Starting A New Business


Small Business Guide


Profitable Small Business



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