Friday, May 29, 2009

The Toilet Paper Entrepreneur, A Review

"Disarmingly funny, The Toilet Paper Entrepreneur tells it like it is and yet never gives up on the little guy. After reading this book you'll feel like you can actually pull it off - because you can." --Donny Deutsch, Host of CNBC's The Big Idea with Donny Deutsch and Chairman, Deutsch Inc.

Mike Michalowicz is hands down, the real deal. Get this book. I recently bought and studied a copy of the wildly popular book, “The Toilet Paper Entrepreneur” and was floored by the way Mike communicated his message. It like he's talking with you one-on-one. How he presents the information is incredibly funny, which makes it a fun read (especially since most of us don't have much time to read).

I fell in love with Toilet Paper Entrepreneur in the introduction where Mike shows a brilliant comparison between the "Media Darling" entrepreneur and his "Three Sheet Path." In Mike's example of the media darling, at 18-years-old the future entrepreneur is recruited to an Ivy League school only to quit and launch a wildly successful VC. Meanwhile, Mike is picking colleges based on the guy-to-girl ratios, hahaha! Needless to say many of us can relate.

He explains why a business plan is a complete waste of time and instead offers the alternate, “Three Sheet Path”, a simple, practical guide for measuring where your company is going and what the immediate health of your business is. If you're like me any way to simplify the process of starting and running a business is welcomed with open arms :)

Some Background

Mike started his first business when he was an inexperienced 24 years old, moving his young family to the only place he could afford, a retirement village. With almost no resources and certainly no experience, he systematically bootstrapped a multi-million dollar technology business, sleeping in conference rooms to avoid hotel costs. After selling his first company for way too much money, Mike launched a new business the very next day, and in less than three years, sold it to a Fortune 500 company. With his newest multi-million dollar venture, Obsidian Launch, he fosters start-up businesses with his “get rich right” approach.

In a recent article Mike explains what he feels are entrepreneurs top ten mistakes and here's number one:

Trying To Do It All

The greatest mistake entrepreneurs make is to believe they can do it all by themselves. While an entrepreneur can do most things, they do most things poorly. Just like any other person, an entrepreneur has one or two God given talents. As an entrepreneur it is your job to identify what you are great and do those few things to your fullest. Surround yourself with people who are strong where you are not. Great companies are built on the foundation of exploiting a few strengths, not on trying to be masters of everything.

If you do a Google search for content by Mike Michalowicz you are going to find a ton of video blog entries, articles and photos that can be so edgy sometimes that they are offensive to some. But in every article he writes or video he posts you are certain to find it packed with a purpose driven message.

It's so simple that it's complex. Business is not easy but it should at least be fun and Mike definitely makes it fun in The Toilet Paper Entrepreneur. Make no mistake, I strongly recommend picking up The Toilet Paper Entrepreneur. It will inspire you and motivate you to keep pushing toward your entrepreneurial dreams.

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