Honest Business

1. Business must be repetitive 2. Without regularity there is no business 3. Every business requires a community of buyers 4. Regularity allows buyers to find the business 5. A hobby does not involve repetitive sales on a regular basis with a concern for assets. 6. Business must review their books and make sure their earning support their business. Tax authorities use the concern for assets as a test of a business. 7. Appraisal of trade skill-sets help define attributes that allow people to affective start and stop a business. People who spend many years in non-skill work find it difficult to go into business for them-selves. Elements of a skill-set can be boiled down to: persistence, ability to face facts, minimizing risk, and hands-on learning. 8. There are always hard, boring, dull parts of business that are behind the easy, exciting parts. 9. In order for your business to start, grow, and flourish, you must love it. 10. Love business is a commitment to needs: time, attention, and passion. Love is necessary to overcome barriers of boredom, dilemmas, conflicts, and isolation. A business usually takes more time and energy than expected. "Business is my art", "where all parties are happy with the resulting outcome" says one business owner. The author states, "helping to start and manage a business is exciting". 11. Four myths of money: 1. A lot of money will let me be free to do what I want 2. People with a lot of money command more respect from others 3. I need more money for my family 4. Money is necessary for security in old age. Rebuttal: 1. You accomplish what you want from life by pursuing your interests and passions 2. Seek to develop friendships, associations, and become an interesting person. The relationships will make you spiritual and temporarily wealthy. 3. Give your family and friends the gift of yourself. 4. You can have a great deal of freedom and respect in your life and security in your old age. 12. Small capital: Under capitalization is the prevailing excuse for insensitivity to the real needs of the market. Capitalization results from responding correctly to the needs of the neighborhood. Everything is noticed by the consumer and perceptions matter, smart businesses poll their customers. Small capital prompts repaid response to customer needs. Innovation is the benefit of small capital. If your capital is small you need your community to help. The community ownership in the business empowers them to share in the success of the business. 13. The complete idea: Several peopled involved in decision-making combined are not as powerful as a single vision. Accepting conventional solutions dilutes great ideas. Wo from covering up sin: "A completely honest and straight forward announcement to the public would have been more effective." 14. Going slow is a fundamental of business because it give time to get more feedback and results in less chance of error. One should allow time to go slow but still meet deadlines. No

A refreshing restoration of faith that you CAN make money without compromising your ethics. An excellent read that you will refer to again and again.

I purchased this book in 1987 just before starting my business. "Honest Business" affirmed every belief I had about how business should and could be practiced. Even concepts such as a business' responsibility to the community it conducts business in is discussed in depth. "Honest Business" gave me the courage and the steps for conducting business without foresaking my personal principles, morals, and objective. Even today this book is my constant companion; my business bible.

This excellent book offers a unique and fresh approach that can be very valuable for the entrepreneur. The concept of the book flies in the face of the conventional wisdom that many business fail because they are under capitalized. Instead the authors make a great case for businesses failing because they are OVER capitalized. When a business start up has a very tight budget, genuine imagination and creativity kick in. It is this personal input into a business that can set it above its competition. This book is a great inspiration for the person who is toying around with the idea of starting their own business.

If you've been thinking of starting a business, but you feel uncomfortable with the "business" part, or if your existing business isn't growing, but you find most marketing materials a little sleazy, I highly recommend this book. Sullivan, once an exec at Bank of America, was a "business guru" for companies like THE WHOLE EARTH CATALOG; he helped many discover that they could do what they loved, provide excellent service, and still earn the profits needed to keep a business thriving. The book is well-written, with a detailed explanation of "TradeSkill" and why it's important to any honest business. If you have pride of craft and want to turn it into a self-sufficient business, you'll find this a very helpful book. I've given away about 50 copies in the last ten years, and worn out three of my own: it's a great resource. --Duif Calvin