Last time, when publishing an old review on the other book “How to build the largest online Bank in the world”, I noticed that a new book “Business without an MBA” was published in 2019. You see how it helps.
The description reads as follows:
In this book you will not find advice in the spirit of: “Just believe in yourself, and then you will become a successful businessman!” And you will not find highly specialized information about accounting levels. This work of a well-known entrepreneur Oleg Tinkov and a talented linguist Maxim Ilyakhov helps to understand the basic, General issues of business.
It was written mainly as follows from the text in 2018, went on sale in April 2019. Immediately say that there will be basics. But who wants advice from someone who exactly has a business!, in contrast to the huge number of infoguru, can get them as always for funny money, about 450r. There is even an audio option.
There are 3 options in total:
Employee
Self-employed
Businessman. The latter needs to build a system – this is its product.
A common mistake: to work as a mercenary in your own business, and what time is left – to spend on scalability. For an entrepreneur, the system is important first, and you can plug the current problem later.
Summary:
Money
-The best ways to Finance – your own pocket, banks (due to predictability) or investment funds.
-Plan your payment calendar in advance – divide your money into your own and someone else’s at once to avoid a cash gap.
Maintain odds (cash flow statement). One of the options is to defer your payment to the supplier or contractor, accept pre-orders or prepayment from customers.
Count the operational efficiency of the business (OP) to understand whether it is worth doing at all.
Consider the return on capital (ROE) of your business, or its advantage is not only in money (such as a favorite business, employment of a loved one, etc.).
Law
-If you came up with a tax scheme and everything is good – it does not mean that you have a brilliant working scheme, it just means that you have not yet reached the inspector ))
Taxes must be paid
-The court protects more often than not, if you correctly argue and challenge the orders of state instances.
-The key to the absence of problems is legal literacy, it is very desirable to have a competent lawyer.Sole proprietor – you can live with a linked card (but it is not so easy to keep track of expenses according to the OSN)
-LLC-dividends no more than once a quarter. Your salary in the LLC and your dividends are not related in any way, everything is accounted for separately.
-Most often, it is less profitable to pay for a po from an LLC, due to additional contributions (FSS and CHI).
-And the founders of the LLC can be held vicariously liable if it is proved that he intentionally withdrew credit money from the company.
Marketing
-At the heart of the marketing system lies in understanding the needs of customers. Problem -> convenient solution
-First you need to test the demand. (communication with people or marketing research) Then competition, place, and so on.
-As the 1st business, start with a simple one – everything is already set up there, and models, marketing, and so on can be simply copied.
– The main thing in advertising is targeting. Showing it to someone who potentially needs it. Nothing else matters.
– Mathematics of leaflets: 1% are read – another 1% of them sell. But cheapness pays for everything.
-The coolest – word of mouth and friends recommendations + retargeting
-The effectiveness of all specific ads and ad platforms (social networks, sites, messengers) can only be measured by testing. We calculate CAC (cost of attracting a client= budget/number of sales), ROMI (return on marketing capital= campaign profit – expenses / investment) and LTV.
In marketing, everyone lies: sites increase traffic, bloggers viewings (from 5 to 40%), and only content marketing honestly says – I will pay for myself in 3 years and that is not a fact.
Sales
In sales, the main thing is to form the right expectations and slightly exceed them. And not just do your job well in SILENCE – because if expectations were higher, customers would still be dissatisfied. If you make a gift or upgrade your service class, you can’t do it in silence. Cites early problems of Pobeda for the lack of baggage in the ticket.
The service, oddly enough, is not crucial. Much more important is predictability-what who will do and when.
The main tool for predictability is communication. It is a big mistake to think that a good job compensates for the need for communication.
“It’s more important for the client to know. You need to talk to the client and build expectations. Notifications and reminders are very helpful.
If you don’t have conflicts with clients, it means that employees don’t answer the phone) All 100% of the reasons are not a coincidence of expectations. In conflicts, humanity and the desire to help are important. And of course it is desirable to solve the problem. You can give a bonus later.
Negotiations
We need to find the client’s pain. Not the desire, not the problem, but the pain – where he is ready to act now. And offer your help, without any need. An old client is better because they already know you. Camp’s magic trick: if it doesn’t suit you, no problem. We will look for other options. The goal of negotiations is a mutually beneficial and comfortable solution.
Future
“Build a business and go to the island” is a myth. Everything is constantly changing. Only laws, acts and letters of the Ministry of Finance are worth anything
There is a COO-an operating Director, that is, a turnover Manager, and a strategist (usually a CEO) who is responsible for strategy, the future, and so on/
Every business has a seasonality.
Don’t be afraid to try again and again! The main thing is to plan and look to the future.
It is very important in business to notice in time that the business has become operationally unprofitable and get out of it – without becoming mired in debt and without mortgaging all your property.
Conclusions:
As always, a cool book. Especially for the inexperienced.
