This book begins by clearly defining the term EntreLeadership, for those who have not heard the word before, it’s basically the necessity to use a mix of Entrepreneur and Leadership skills to succeed in business.
Ramsey says that to even set up a business you need to step up as a Leader and make things happen. You’ll need to find others to help you and delegate the tasks necessary to get things moving. You need to lead. Ramsey states that we need leadership to be an entrepreneur, it is fundamentally connected to being a successful entrepreneur. I tend to agree.
1. EntreLeadership Defined.
As we’ve already covered this I don’t think I need to say more.
2. Start with a Dream, End with a Goal
In a nutshell Ramsey makes it clear that having dreams is not going to take you along the road to success. The big difference between a dreamer and an entrepreneur is action! Goals need plans, strategies and implementation otherwise they are just dreams.
3. Flavor Your Day with Steak Sauce.
A term I’m not familiar with myself when it comes to Time Management. But there it is! This chapter is all about the link between success and managing your time effectively. It is vital. Ramsey gives some great Time Management suggestions and if you’re looking for more I have a free Time Management eBook full of tips.
4. “Spineless Leader” is an Oxymoron.
I love this! There is no question that you need courage to lead. You don’t need to be outwardly aggressive but you do need to be able to communicate well and stand up for yourself, your team and your decisions. Making decisions on the spot is not always easy but a leader needs to be able to assess the situation, look at all the information and make the tough calls. Leadership is not for the faint hearted.
5. No Magic, No Mystery.
Ramsey looks at the life cycle of a product and how to see it’s in decline and start again. That’s a very brief description of an excellent chapter. He also looks at marketing a product successfully using solid, basic ideas. This chapter discusses the fundamentals of marketing every business owner should be aware of.
6. Don’t Flop Whoppers
With small business we tend to have an idea that we can productise. Ramsey talks about how this idea can grow to become a larger entity. He helps you to look for the passion and calling in what you are doing. Or as I have discussed previously, the vision and purpose of your business. Knowing your why.
Chapter five looks at the life cycle of a product, this chapter looks at the life cycle of an employee. Most business owners that I have spoken to, including mentors will tell you that the biggest challenge of running a business is dealing with employees. Ramsey gives great advice on the entire process from hiring to firing.
8. Death of a Salesman.
Add value – don’t sell. If people like you and you build a relationship with them, they will be happy to buy from you and refer other customers to you. This chapter is all about the customer, make your goal about their happiness, not about your sales.
9. Financial Peace for Business.
This chapter gives very good basic financial advice regarding running a business. Ramsey is also the author of the best-selling book; ‘Financial Peace’ the advice is really solid.
10.The Map to the Party.
Be clear in your strategic plans and communicate them well. Success is all about communicating with your team to get them fully engaged.
11. People Matter Most.
Many very successful people will tell you that the most valuable asset in your business is your people. Ramsey agrees and discusses how to treat them right..
12. Caught in the Act
Your business can’t be recognised for the good things you do if you don’t tell people about it. He is not suggesting that you openly brag, but even small opportunities can add to your overall PR and awareness.
13.Three Things Successful People Never Skip
The devil is in the detail as they say. Ramsey advises to pay attention to the finer details when dealing with contracts, collections and vendors. Crossing your t’s and dotting your i’s will pay off in the long run.
14.Show Me the Money!
When people work hard and contribute to you scoring a win in your business, thank them! A bit of gratitude and generosity will go a long way.
15.Mastering “the Rope”
An important skill of a good leader is to empower and grow other leaders, this begins with delegation. To delegate well you need to be able to trust your team. Develop a strong team who share the vision and purpose of your business so you can trust them to work in your business while you continue working on A strong team is vital
EntreLeadership is an excellent book for small business owners, in my humble opinion it should be recommended reading for anyone signing up for an ABN to start a business.