The Profit Principle: Turn What You Know Into What You Do - Without Borrowing a Cent!
January 2011, Wrightbooks
Success in business has little to do with investment capital, a business plan or office space. Success comes from applying the four-part profit principle. Discover how you can turn what you know into what you do, and launch a successful, sustainable venture without spending (or borrowing) a cent. It’s a process that's simpler than you think and already within reach.
Most books on starting a business don't extend further than the practicalities: plans, finance, accounting, equipment and so on. There are so many books on this topic, and their advice is often similar and predictable; rarely do they offer a new perspective or directions for a smarter approach. The motivational books that also serve this market may read well, but they often lack the substance on which to base sound business decisions and actions.
If you want to run your own business and don't already, stop and ask yourself why not? The Profit Principle is a modern classic that will revolutionise your thinking on what it takes to succeed and inspire you to get started.
Part I: The profit principle
1 Introducing the profit principle.
2 Let's not start at the beginning.
3 Your first product is you.
4 Start by making money, not spending it.
5 The customer doesn’t owe you their business.
6 Fishbones are small, but you can choke on them.
7 How to remember something you never knew.
8 Curiosity is the key.
9 The myth of perpetual motion.
10 Don't fall into the investment trap.
11 Time is money, so take your time.
12 Take your costs and double them.
Part II: Negotiation and partnership with the profit principle.
13 We don't need another hero!
14 Talk is cheap, so keep on talking.
15 Don't talk until you see the whites of their eyes.
16 Pick your battles, and prepare for peace.
17 What's in it for me?
18 Taking control means keeping control.
Part III: Growing with the profit principle.
19 Perfection is the enemy of progress.
20 Small businesses stay small.
21 How to be big without being big.
22 Don't stare at the horizon just to trip on the road.
23 Find the right people and let them get on with their jobs.
24 The bicycle balance.
25 There's no beginning, there'll be no end.
Forty years and a hugely successful career as an entrepreneur
later, having co-founded a $1.25 billion company that employs
6000 people worldwide, he wanted to gather his experiences in
business into a book so he could hand his expertise down to his
children. He began to look for a writing partner, someone who also
wanted to share what they knew with others, and after asking
around, a friend and business associate suggested he meet
A multi–award winning business journalist with a decade's experience covering the information technology sector, Jeanne-Vida was looking for a way to gather together the very best stories she came across in her work into a single edition. At the time Jeanne-Vida was juggling her own small business as a freelance journalist and business writer with the demands of two small children, and was keen to encourage others to find ways to turn their skills into microenterprises.
The pair met in early 2007 at Peter's offices in Chippendale in Sydney, Jeanne-Vida bouncing her baby son on her lap, and they agreed to meet regularly for coffee to figure out how to turn these ideas and real life experiences into a book that could be shared down the generations and across the business community. Over many meetings they gathered ideas, wrote and rewrote, discussed and argued the fundamental ideas and real life examples that now fill this book.
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