I had the great honour, on Tuesday of this week, of attending a class in entrepreneurship taught by Prof. Cammie Jaquays at Trent University in Peterbrough, Ontario.
Prof. Jaquays divided the students in her class into six groups, and each was assigned the task of reading my book, "Don't Let Your Dream Business Turn into a Nightmare", in conjunction with a book by Prof. John W. Mullins, entitled "The New Business Road Test", and examining my entrepreneurial venture through the lens, if you will, of the "seven domains" road test for new businesses which Prof.Mullins outlines in his book.
The seven domains in Prof. Mullins' model include two "Market domains"; market attractiveness as a whole, which is a "macro-level" evaluation of the market, and the "target segment benefits and attractiveness" of the proposed new business, which is a "micro-level" examination.
Similarly, there is a macro-level "Industry domain" - which refers to the attractiveness of the industry as a whole, and a micro-level Industry domain consideration, which is the "sustainable advantage" offered by the proposed new business in that particular industry.
In the "Team domain", there are three areas of examination: 1) Mission, aspirations and propensity for risk 2) Connectedness up, down and across the value chain and 3) Ability to execute on Critical Success Factors.
As Prof. Mullins points out in his book, there is much that can go wrong in starting a new business venture, and almost any mistake - certainly a critical mistake - can doom the entire enterprise. Hence, the "road-test" is not a check list, and there is no "score card". Achieving a "score" of 90 out of 100 would not be any guarantee of success, if the missing 10 points were in the "ability to execute on critical success factors", for example.
Prof. Mullins' book is a very informative and valuable guide for aspiring entrepreneurs who may be unaware of all of the factors that determine the success or failure of a new business -or the degree to which the odds are stacked against any new business succeeding - and the diligence with which the students in Prof. Jaquays' class approached the assignment, and the insights which they came up with with respect to my business venture, were delightful, if not occasionally painful at the same time.
There are many mistakes which an entrepreneur can make - especially a first-time entrepreneur - and I certainly made a number of them.
But what was the biggest mistake that I made?
As Prof. Mullins states in his book, investors come in two categories - one is the "Three F's" - friends, family and fools -and the other is professional investors.
In the case of my business venture, I would say that my investors were in the latter category, which is to say that they invested in my new business concept more out of a desire to make money, than out of a desire to help me, although there was a personal relationship with one of my two investors.
As Prof. Mullins points out, experienced investors know that most new businesses will fail. The statistics tell them that. Hence, they approach every plan for a new business with a hefty dose of scepticism.
Now, consider this: if you approach a basically skeptical investor with a business plan for a new venture which he already knows has a greater chance of failing than succeeding, how are you going to change that skepticism into an overwhelming passion and exuberance?
You might transform that skepticism into a grudging level of cautious optimism, but that is about it.
You are just not going to get your investors to feel as passionate and committed to your idea as you are, in my opinion, and, certainly, in my experience.
And so what happens when investors put up money for a business venture for which they do not have the same level of passion and commitment as the "visionary entrepeneur" whose idea it was to create the business - in other words, you?
"It is all too common for venture capital investors who like an opportunity to tire of the team they back and bring in a new one at the first sign of trouble."
So writes Prof. Mullins.
And that is exactly what happened to me with The Men's PowerSpa.
My investors, who never really believed in the concept of the business in the first place, eventually got tired of me and replaced me with - themselves.
Have a look at the website at http://www.themenspowerspa.com/ to see how they are doing.
It is March 12, and they are still promoting Valentine's Day.
So, what was the biggest mistake I made in my business?
If you read my book and Prof. Mullins' book, you may come up with your own answer.
But, as you can see, I have come up with mine.
Friday, March 12, 2010
Wednesday, February 17, 2010
The Bias Against Stories of Unsuccess
I received an email recently from a very good friend who had read my book, and is currently reading the 2007 work by Nassim Nicholas Taleb entitled "The Black Swan".
My friend cited the following passage in Taleb's book which he felt pertained to my book:
Numerous studies of millionaires aimed at figuring out the skills required for hotshotness follow the following methodology. They take a population of hotshots, those with big titles and big jobs, and study their attributes. They look at what those big guns have in common: courage, risk taking, optimism, and so on, and infer that these traits, most notably risk taking, help you to become successful. You would also probably get the same impression if you read CEO's ghostwritten autobiographies or attended their presentations to fawning MBA students.
Now take a look at the cemetery. It is quite difficult to do so because people who fail do not seem to write memoirs, and if they did, those business publishers I know would not even consider giving them the courtesy of a returned phone call (as to returned e-mail, fuhgedit). Readers would not pay $26.95 for a story of failure, even if you convinced them that it had more tricks than a story of success. The entire notion of biography is grounded in the arbitrary ascription of a causal relation between specified traits and subsequent events. Now consider the cemetery. The graveyard of failed persons will be full of people who shared the following traits: courage, risk taking, optimism, etc. Just like the population of millionaires.
Rather interesting, wouldn't you say?
I can certainly attest to the bias against stories of "unsuccess", as I was advised by a number of people that no one would either publish or purchase a book with the negative-sounding title "Don't Let Your Dream Business Turn Into a Nightmare", not to mention a website called http://www.mybusinessnightmare.com/. However, I must also add that my phone calls and emails to the three Canadian publishers to whom I submitted my book were returned, and, in fact, the Managing Editor of one of them said that my book was "one of the most original business books" he had ever read". In fact, it was his comment that my book "belongs on the syllabus of every M.B.A. program in the country" that inspired me to self-publish and self-market the book.
I should also state that people have purchased the book, as well, although I have only just begun to figure out what it takes to publish and promote a book yourself. I haven't done the latter - I am just beginning to figure out what I need to do.
What I find most interesting about the passage from Taleb's book cited above is the inference that books about failure ( I prefer to use the term "unsuccess" to refer to my book as the business I founded has not failed) can be as instructive, if not more instructive, than books dealing with success. That is the very reason why I wrote my book, and subtitled it "A Cautionary Tale for Would-Be Entrepreneurs", and also why I hope that everyone who is either considering starting a small business or studying entrepreneurship in school will read my book.
As for the contention in Taleb's book that cemeteries are filled with unheralded "failures" who had just as much courage as famous "successes" - well, I'm not there yet, nor am I in any hurry to get there, but I appreciate the sentiment.
Bottom line: read my book and let me know if you agree with Nassim Nicholas Taleb's comments. And read his book "The Black Swan" too. Sounds interesting.
My friend cited the following passage in Taleb's book which he felt pertained to my book:
Numerous studies of millionaires aimed at figuring out the skills required for hotshotness follow the following methodology. They take a population of hotshots, those with big titles and big jobs, and study their attributes. They look at what those big guns have in common: courage, risk taking, optimism, and so on, and infer that these traits, most notably risk taking, help you to become successful. You would also probably get the same impression if you read CEO's ghostwritten autobiographies or attended their presentations to fawning MBA students.
Now take a look at the cemetery. It is quite difficult to do so because people who fail do not seem to write memoirs, and if they did, those business publishers I know would not even consider giving them the courtesy of a returned phone call (as to returned e-mail, fuhgedit). Readers would not pay $26.95 for a story of failure, even if you convinced them that it had more tricks than a story of success. The entire notion of biography is grounded in the arbitrary ascription of a causal relation between specified traits and subsequent events. Now consider the cemetery. The graveyard of failed persons will be full of people who shared the following traits: courage, risk taking, optimism, etc. Just like the population of millionaires.
Rather interesting, wouldn't you say?
I can certainly attest to the bias against stories of "unsuccess", as I was advised by a number of people that no one would either publish or purchase a book with the negative-sounding title "Don't Let Your Dream Business Turn Into a Nightmare", not to mention a website called http://www.mybusinessnightmare.com/. However, I must also add that my phone calls and emails to the three Canadian publishers to whom I submitted my book were returned, and, in fact, the Managing Editor of one of them said that my book was "one of the most original business books" he had ever read". In fact, it was his comment that my book "belongs on the syllabus of every M.B.A. program in the country" that inspired me to self-publish and self-market the book.
I should also state that people have purchased the book, as well, although I have only just begun to figure out what it takes to publish and promote a book yourself. I haven't done the latter - I am just beginning to figure out what I need to do.
What I find most interesting about the passage from Taleb's book cited above is the inference that books about failure ( I prefer to use the term "unsuccess" to refer to my book as the business I founded has not failed) can be as instructive, if not more instructive, than books dealing with success. That is the very reason why I wrote my book, and subtitled it "A Cautionary Tale for Would-Be Entrepreneurs", and also why I hope that everyone who is either considering starting a small business or studying entrepreneurship in school will read my book.
As for the contention in Taleb's book that cemeteries are filled with unheralded "failures" who had just as much courage as famous "successes" - well, I'm not there yet, nor am I in any hurry to get there, but I appreciate the sentiment.
Bottom line: read my book and let me know if you agree with Nassim Nicholas Taleb's comments. And read his book "The Black Swan" too. Sounds interesting.
Wednesday, February 10, 2010
Winning the Battle to Tell the Truth
In my last post, I described the battle in which I am engaged to see to it that the case study which was created by the Ivey School of Business - one of the top business schools in Canada - based upon my book "Don't Let Your Dream Business Turn Into a Nightmare" remains available to students at Ivey and at other business schools around the world which may have interest in using it in their programs.
In the spring of 2009, I submitted a copy of my book to the Ivey School of Business at the University of Western Ontario, with a view to having it added to the curriculum of their courses in entrepreneurship. In May, I received an email from the Executive Entrepeneur in Residence at Ivey, expressing interest in adapting my book - or my story as I told it in my book - into a case study, as Ivey is one of a number of business schools that uses the "case study" methodology. The case study was written in the fall and posted on the Ivey Publishing website in November of 2009. In December, I received an email from Ivey informing me that my former friend and associate, who is now the president of The Men's PowerSpa, had lodged a complaint, on the basis that the majority owners of the company did not give their consent to use the case study that bears the name of the company.
My book is a very personal account of one man's entrepreneurial dream that turned into a nightmare. I wrote it as a cautionary tale to warn other would-be entrepreneurs of the dangers of starting a business - especially a "dream business" - with someone else's money. Someone who may not share your passion or vision.
I did not expect the majority shareholders of the company that I founded to like my book because it is not a very flattering portrait of the way that people can behave when money is on the table. The lesson of my book is that when money is involved, a number of values which we cherish, such as fairness and even "niceness" can go out the window. You might think that all is fair in business, but I don't, and that is why I wrote my book.
Prior to self-publishing my book, I consulted with several lawyers, and was advised that as long as my book was truthful, I could defend myself against any claims of libel. Since my book was truthful, I went ahead and published it. And the Ivey School of Business deemed that the story that I told in my book - the story of how my "dream business" turned into a nightmare - was of value to the students at Ivey and at other business schools around the world.
But in December, because the majority owners of the business had not approved of the use of the case study, they pulled it.
This, to me, is analagous to a newspaper pulling a story about the problems at Toyota becasue the owners of Toyota don't like it. Talk about freedom of the press.
The upshot of all of this is that, as of this week, I was informed that the case study will go forward, in a disguised version, so that readers will not be able to recognize The Men's PowerSpa.
So, somewhere in the future, students of entrepeneurship at Ivey and other business schools around the world may get to read the story of an entrepreneur who had a dream, and saw that dream turn into a nightmare.
It won't be my story the way I told it in my book. But it will be as close as it can be, thanks to the majority owners of The Men's PowerSpa.
A couple of guys who should be ashamed of themselves.
In the spring of 2009, I submitted a copy of my book to the Ivey School of Business at the University of Western Ontario, with a view to having it added to the curriculum of their courses in entrepreneurship. In May, I received an email from the Executive Entrepeneur in Residence at Ivey, expressing interest in adapting my book - or my story as I told it in my book - into a case study, as Ivey is one of a number of business schools that uses the "case study" methodology. The case study was written in the fall and posted on the Ivey Publishing website in November of 2009. In December, I received an email from Ivey informing me that my former friend and associate, who is now the president of The Men's PowerSpa, had lodged a complaint, on the basis that the majority owners of the company did not give their consent to use the case study that bears the name of the company.
My book is a very personal account of one man's entrepreneurial dream that turned into a nightmare. I wrote it as a cautionary tale to warn other would-be entrepreneurs of the dangers of starting a business - especially a "dream business" - with someone else's money. Someone who may not share your passion or vision.
I did not expect the majority shareholders of the company that I founded to like my book because it is not a very flattering portrait of the way that people can behave when money is on the table. The lesson of my book is that when money is involved, a number of values which we cherish, such as fairness and even "niceness" can go out the window. You might think that all is fair in business, but I don't, and that is why I wrote my book.
Prior to self-publishing my book, I consulted with several lawyers, and was advised that as long as my book was truthful, I could defend myself against any claims of libel. Since my book was truthful, I went ahead and published it. And the Ivey School of Business deemed that the story that I told in my book - the story of how my "dream business" turned into a nightmare - was of value to the students at Ivey and at other business schools around the world.
But in December, because the majority owners of the business had not approved of the use of the case study, they pulled it.
This, to me, is analagous to a newspaper pulling a story about the problems at Toyota becasue the owners of Toyota don't like it. Talk about freedom of the press.
The upshot of all of this is that, as of this week, I was informed that the case study will go forward, in a disguised version, so that readers will not be able to recognize The Men's PowerSpa.
So, somewhere in the future, students of entrepeneurship at Ivey and other business schools around the world may get to read the story of an entrepreneur who had a dream, and saw that dream turn into a nightmare.
It won't be my story the way I told it in my book. But it will be as close as it can be, thanks to the majority owners of The Men's PowerSpa.
A couple of guys who should be ashamed of themselves.
Saturday, February 6, 2010
What Do You Make of This?
My book, "Don't Let Your Dream Business Turn Into a Nightmare" is an honest account, from my perspective, of my experience in founding one of the first day spas for men in the world called The Men's PowerSpa.
When I had finished my book, in late 2008, I submitted it to one of the leading independent publishers in Canada, and the Managing Editor, who loved the book, and called it "the most original business book he had ever read", said that it belonged on the syllabus of every M.B.A. program in the country.
That was a "light bulb" moment for me, as I had written the book as a cautionary tale for would-be entrepreneurs, to help them avoid the misfortune that I experienced. I had not thought of the book as an educational resource to be used in college or university entrepreneurship and business courses.
Based upon the comments of the Managing Editor, I decided to publish the book myself, and to send it to university and college instructors, to see if it might be of interest for their graduate and undergraduate courses. One of the most thrilling responses that I received was from the Ivey School of Business at the University of Western Ontario, not only one of the top business schools in Canada, but my alma mater, as I have a Master's degree in English from Western.
In short, the Ivey School of Business adapted my book, which is the tale of a first-time entrepreneur with the dream of creating one of the first spas in the world for men, into a case study. The case study was completed in the fall of 2009, and made available on the Ivey Publishing website.
I did not have any financial interest whatsoever in the use of the case study at Ivey or in the sale of the case study to other business schools, but I did see a benefit to me in the association with a prestigious academic institution like Ivey and in exposing my story to students of business around the world, some of whom might have interest in reading the complete story as I told it in my book.
I should also point out that in writing my book, I was as honest as I could possibly be about my actions, my decisions and my mistakes, and those of others involved in the story. I was guided at all times by the truth, and the advice that I had received from several lawyers, that as long as I told the truth, I could defend myself against any legal challenges that might arise. I also felt, and I am going to admit this openly, that as a citizen of Canada, I had the right to tell my story my way - and that is what I did. I refused to allow myself to be cowed out of doing so by anyone.
And, what happened to the case study that was created by the Ivey School of Business?
Shortly after it was published, they received an email from someone associated with the business who complained that the majority owners had not given their consent to use the case study.
The case study that was based upon my book.
The book that was an honest and truthful account of my experience.
The experience that belongs to me, which is part of my life story, and which I told as truthfully as I could.
And, what did Ivey Publishing do? They immediately withdrew the case study from their website, with the intent of revising it so as to completely disguise the name and the identity of the business.
In other words, to completely alter the story that I wrote.
And why would they do that?
I was told that their case studies are not based upon individual stories - like the story of an entrepreneur whose dream business turned into a nightmare. Their cases are based upon businesses, and unless everyone signs off on the case study like a happy little family, they won't use it.
Wouldn't want to risk controversy in the academic world now, would we?
Someday, there may be a case study that bears some vague resemblance to the story that I told in my book.
The story of how my dream business turned into a nightmare.
There are always going to be cowards who are afraid of the truth, and those who lack the courage to tell the truth.
And, hopefully, others who aren't and don't.
If you want to know my story, read my book.
When I had finished my book, in late 2008, I submitted it to one of the leading independent publishers in Canada, and the Managing Editor, who loved the book, and called it "the most original business book he had ever read", said that it belonged on the syllabus of every M.B.A. program in the country.
That was a "light bulb" moment for me, as I had written the book as a cautionary tale for would-be entrepreneurs, to help them avoid the misfortune that I experienced. I had not thought of the book as an educational resource to be used in college or university entrepreneurship and business courses.
Based upon the comments of the Managing Editor, I decided to publish the book myself, and to send it to university and college instructors, to see if it might be of interest for their graduate and undergraduate courses. One of the most thrilling responses that I received was from the Ivey School of Business at the University of Western Ontario, not only one of the top business schools in Canada, but my alma mater, as I have a Master's degree in English from Western.
In short, the Ivey School of Business adapted my book, which is the tale of a first-time entrepreneur with the dream of creating one of the first spas in the world for men, into a case study. The case study was completed in the fall of 2009, and made available on the Ivey Publishing website.
I did not have any financial interest whatsoever in the use of the case study at Ivey or in the sale of the case study to other business schools, but I did see a benefit to me in the association with a prestigious academic institution like Ivey and in exposing my story to students of business around the world, some of whom might have interest in reading the complete story as I told it in my book.
I should also point out that in writing my book, I was as honest as I could possibly be about my actions, my decisions and my mistakes, and those of others involved in the story. I was guided at all times by the truth, and the advice that I had received from several lawyers, that as long as I told the truth, I could defend myself against any legal challenges that might arise. I also felt, and I am going to admit this openly, that as a citizen of Canada, I had the right to tell my story my way - and that is what I did. I refused to allow myself to be cowed out of doing so by anyone.
And, what happened to the case study that was created by the Ivey School of Business?
Shortly after it was published, they received an email from someone associated with the business who complained that the majority owners had not given their consent to use the case study.
The case study that was based upon my book.
The book that was an honest and truthful account of my experience.
The experience that belongs to me, which is part of my life story, and which I told as truthfully as I could.
And, what did Ivey Publishing do? They immediately withdrew the case study from their website, with the intent of revising it so as to completely disguise the name and the identity of the business.
In other words, to completely alter the story that I wrote.
And why would they do that?
I was told that their case studies are not based upon individual stories - like the story of an entrepreneur whose dream business turned into a nightmare. Their cases are based upon businesses, and unless everyone signs off on the case study like a happy little family, they won't use it.
Wouldn't want to risk controversy in the academic world now, would we?
Someday, there may be a case study that bears some vague resemblance to the story that I told in my book.
The story of how my dream business turned into a nightmare.
There are always going to be cowards who are afraid of the truth, and those who lack the courage to tell the truth.
And, hopefully, others who aren't and don't.
If you want to know my story, read my book.
Thursday, February 4, 2010
What Was The Biggest Mistake That You Made in Your Business?
I was recently asked by a university professor who is using my book "Don't Let Your Dream Business Turn Into a Nightmare" in her course in entrepreneurship, what the biggest mistake was that I made in my business.
As those of you who have read my blog are aware, my book is an account of my experience as the founder of one of the first spas in the world for men, called The Men's PowerSpa
So what are some of the possible answers to the professor's question
One could say that the biggest mistake that I made was in starting a business that I had no previous experience running.
Or, in hiring a "business consultant" to write the business plan for men, rather than writing it myself.
One could argue that the biggest mistake I made was underestimating the amount of time and money that were needed to build the business into profitability.
Or, that I hired too many staff members in the beginning, or the wrong people.
It may be that my biggest mistake was in my choice of location.
It could be that my prices were too high, or not high enough.
As you can see, there are a number of answers that I could have given to the professor who asked me what the biggest mistake was that I made in my business.
But, so far, I have not mentioned the answer that I gave her.
What was the biggest mistake that I made in my business?
Having investors who did not accept that making mistakes is part of the learning process, especially if the business that you are launching is based upon a novel concept, as mine was.
In my view, and in my experience, no matter how hard you try to avoid them, mistakes will happen in business.
It is part of the process.
And the biggest mistake is to regard them as mistakes and to point fingers.
Accept them, correct them, overcome them, learn from them and move on.
If you cannot do that in your business, I do not believe that you have any chance of succeeding.
As those of you who have read my blog are aware, my book is an account of my experience as the founder of one of the first spas in the world for men, called The Men's PowerSpa
So what are some of the possible answers to the professor's question
One could say that the biggest mistake that I made was in starting a business that I had no previous experience running.
Or, in hiring a "business consultant" to write the business plan for men, rather than writing it myself.
One could argue that the biggest mistake I made was underestimating the amount of time and money that were needed to build the business into profitability.
Or, that I hired too many staff members in the beginning, or the wrong people.
It may be that my biggest mistake was in my choice of location.
It could be that my prices were too high, or not high enough.
As you can see, there are a number of answers that I could have given to the professor who asked me what the biggest mistake was that I made in my business.
But, so far, I have not mentioned the answer that I gave her.
What was the biggest mistake that I made in my business?
Having investors who did not accept that making mistakes is part of the learning process, especially if the business that you are launching is based upon a novel concept, as mine was.
In my view, and in my experience, no matter how hard you try to avoid them, mistakes will happen in business.
It is part of the process.
And the biggest mistake is to regard them as mistakes and to point fingers.
Accept them, correct them, overcome them, learn from them and move on.
If you cannot do that in your business, I do not believe that you have any chance of succeeding.
Friday, August 28, 2009
If You Think My Book is Too "Negative", Buy Two Copies
At the end of Woody Allen's classic "Standup Comic" album, one of the few, if not only recordings of his live standup act of the 1960's, he says to the audience "I'd really like to leave you with a positive statement, but I can't. Would you accept two negative statements?"
I was thinking about this yesterday when not one but two people told me that the title of my book "Don't Let Your Dream Business Turn Into a Nightmare" is too negative. "People don't want to read a negative book", I was told, not once but twice on the same day. "You need a more positive title."
Okay - let me make this perfectly clear. My book, "Don't Let Your Dream Business Turn Into a Nightmare" tells the story of how I created one of the first spas for men in the world - my dream business - and how that dream business turned into a nightmare for me.
I don't think the book is negative at all. What I think it is, is truthful. Which is not to say that the book presents the truth. It doesn't. I don't know how any book can claim to present the truth, as there are always numerous sides to any story. But my book presents - to the best of my ability within reasonable parameters, that is, a 126-page account - my truth. And my truth just happens to be that founding one of the first spas in the world for men was a very painful and damaging experience for me. If you want to know why - and feel that by reading my book, you might just avoid making some of the mistakes that I made - then I urge you to buy a copy. And read it.
Helping people avoid making painful and expensive mistakes is not a negative enterprise in my view. I actually believe that it can be a very positive one. And I can assure you of this: I wrote my book myself. I did not have an agent, an editor or a publisher. I told my truth exactly the way I wanted to tell it because it is my truth and it belongs to me. I knew that the first thing that any publisher or agent who came along would do is change the title to something more "positive" - like what? "Your Dream Business Doesn't Have to Turn Into a Nightmare Just Because Mine Did".Wow, that is an improvement!
If you have a really good idea for a business - your dream business - and you think that you are going to launch it with someone else's money - then you might just learn a thing or two from my book. I wish I had read it before I started my dream business with someone else's money.
And, if you think that the title of my book - or the book itself - is too negative, then follow Woddy Allen's lead, and buy two copies.
I was thinking about this yesterday when not one but two people told me that the title of my book "Don't Let Your Dream Business Turn Into a Nightmare" is too negative. "People don't want to read a negative book", I was told, not once but twice on the same day. "You need a more positive title."
Okay - let me make this perfectly clear. My book, "Don't Let Your Dream Business Turn Into a Nightmare" tells the story of how I created one of the first spas for men in the world - my dream business - and how that dream business turned into a nightmare for me.
I don't think the book is negative at all. What I think it is, is truthful. Which is not to say that the book presents the truth. It doesn't. I don't know how any book can claim to present the truth, as there are always numerous sides to any story. But my book presents - to the best of my ability within reasonable parameters, that is, a 126-page account - my truth. And my truth just happens to be that founding one of the first spas in the world for men was a very painful and damaging experience for me. If you want to know why - and feel that by reading my book, you might just avoid making some of the mistakes that I made - then I urge you to buy a copy. And read it.
Helping people avoid making painful and expensive mistakes is not a negative enterprise in my view. I actually believe that it can be a very positive one. And I can assure you of this: I wrote my book myself. I did not have an agent, an editor or a publisher. I told my truth exactly the way I wanted to tell it because it is my truth and it belongs to me. I knew that the first thing that any publisher or agent who came along would do is change the title to something more "positive" - like what? "Your Dream Business Doesn't Have to Turn Into a Nightmare Just Because Mine Did".Wow, that is an improvement!
If you have a really good idea for a business - your dream business - and you think that you are going to launch it with someone else's money - then you might just learn a thing or two from my book. I wish I had read it before I started my dream business with someone else's money.
And, if you think that the title of my book - or the book itself - is too negative, then follow Woddy Allen's lead, and buy two copies.
Tuesday, August 18, 2009
So, Why Did You Write Your Book?
So, why did you write your book?
If you are an author, you have probably been asked that question, or have asked it of yourself.
Why did you bother to write your book?
Writing a book is not easy - and selling a book is even harder.
So, why do it, unless you are an established author with a loyal following?
I wrote my book "Don't Let Your Dream Business Turn Into a Nightmare" for five reasons:
1) I felt that I had a story that people would find interesting
2) I wanted to challenge myself to take a lot of information and distil it down into a cogent, compelling narrative
3) I wanted to add another dimension to my professional arsenal - as an author
4) I believed that my story could help other entrepeneurs
and
5) I felt that if the book caught on, it could reach a wide audience and make money
Last night, I received an email from a wonderful friend named Tom Berend, a very successful entrepreneur and one of the smartest people I know. This is what he wrote:
Hi Alan:
Just read your book cover-to-cover. It's been on my desk for weeks, but I had only read the first chapter, and it kinda made me cringe - like that horror movie where you watch Jack Nicholson driving through the forest to accept a job at a hotel, and you KNOW it's going to end really badly...
I've got a small venture running in my basement - it's a REALLY GREAT IDEA. There's an angel-finance guy pushing me to accept some investors and build a company. He's got about $500K lined up for me, ready to go. I drafted and redrafted a business plan 7 times before he was happy enough with it to present it to them - and each time, it got better looking. Of course, we are still figuring out who our market is and what our product is, but that's OK, everyone does that.
But now that I've read your book. Hmmm. I realize that I have a REALLY GREAT IDEA and a really wrong business plan. Add money, and investors looking for fast results, that's a recipe for disaster. I've put the finance on hold, will keep running on a shoestring until I learn the business.
Thanks for a really great book, it probably saved my life.
Tom Berend
So, why did you write your book?
Now, you know why I wrote mine.
If you are an author, you have probably been asked that question, or have asked it of yourself.
Why did you bother to write your book?
Writing a book is not easy - and selling a book is even harder.
So, why do it, unless you are an established author with a loyal following?
I wrote my book "Don't Let Your Dream Business Turn Into a Nightmare" for five reasons:
1) I felt that I had a story that people would find interesting
2) I wanted to challenge myself to take a lot of information and distil it down into a cogent, compelling narrative
3) I wanted to add another dimension to my professional arsenal - as an author
4) I believed that my story could help other entrepeneurs
and
5) I felt that if the book caught on, it could reach a wide audience and make money
Last night, I received an email from a wonderful friend named Tom Berend, a very successful entrepreneur and one of the smartest people I know. This is what he wrote:
Hi Alan:
Just read your book cover-to-cover. It's been on my desk for weeks, but I had only read the first chapter, and it kinda made me cringe - like that horror movie where you watch Jack Nicholson driving through the forest to accept a job at a hotel, and you KNOW it's going to end really badly...
I've got a small venture running in my basement - it's a REALLY GREAT IDEA. There's an angel-finance guy pushing me to accept some investors and build a company. He's got about $500K lined up for me, ready to go. I drafted and redrafted a business plan 7 times before he was happy enough with it to present it to them - and each time, it got better looking. Of course, we are still figuring out who our market is and what our product is, but that's OK, everyone does that.
But now that I've read your book. Hmmm. I realize that I have a REALLY GREAT IDEA and a really wrong business plan. Add money, and investors looking for fast results, that's a recipe for disaster. I've put the finance on hold, will keep running on a shoestring until I learn the business.
Thanks for a really great book, it probably saved my life.
Tom Berend
So, why did you write your book?
Now, you know why I wrote mine.
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