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The Reluctant Entrepreneur: Turning Dreams into Profits, by Michael Masterson
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Intelligent strategies for starting and growing a small business with minimal personal financial risk
A comprehensive guide for entrepreneurs from one of the most successful business creators in recent years, The Reluctant Entrepreneur: Turning Dreams into Profits addresses the fears and misconceptions that many people have about starting their own businesses, walking prospective owners through the necessary decisions they need to make before even putting a business plan in place.
Presenting solid, reliable strategies based on author Michael Masterson's own successful practices, and debunking some common illusions entrepreneurs have about their businesses, the book is a vital resource for anyone looking to avoid the pitfalls that threaten fledgling companies.
- Packed with insights from an entrepreneur who has launched and sold dozens of business, presented in a lively and conversational style
- Some 600,000 new businesses are launched each year and with an uncertain economy, more and more people are looking for a stream of income separate from their 9 to 5 job
- Filled with highly applicable advice that budding and professional entrepreneurs can start using immediately
Essential reading for small business owners and both first time and established entrepreneurs, The Reluctant Entrepreneur presents the smart strategies on starting and growing a small business that can make launching your own company a cinch.
- Sales Rank: #239936 in Books
- Published on: 2012-06-26
- Original language: English
- Number of items: 1
- Dimensions: 8.80" h x .75" w x 5.80" l, .70 pounds
- Binding: Hardcover
- 192 pages
From the Inside Flap
Successful entrepreneurs quit their jobs, throw caution to the wind, and invest every last cent on following some crazy dream . . . right? Wrong. Many of the world's most profitable self-starters, from Bill Gates to Jeff Bezos, took their time setting up their revolutionary companies, weighing the risks, hedging their bets, and proceeding with trepidation. If you're sold on the idea of building your own business but are daunted by the potential pitfalls, The Reluctant Entrepreneur: Turning Dreams into Profits is for you, covering everything you need to know to successfully balance the thrill of going it alone with the fear of getting in too deep.
A comprehensive, step-by-step guide for would-be entrepreneurs keen to strike out on their own but wary of the dangers, the book presents a road map for maximizing success while minimizing risk. Focusing on overcoming the anxieties that prevent many budding business owners from ever fulfilling their potential, author and entrepreneur extraordinaire Michael Masterson explains exactly how to launch and develop a startup during the two most difficult phases of growth: from nothing to $1 million and from $1 million to $10 million.
With coverage of everything from coming up with a good idea to figuring out—and finding—the people you want to work with, the book offers an all-encompassing look at how to build a business from the ground up, whether you've got a great concept in mind or are just looking for a new way to bring in a little extra cash. Filled with reliable strategies drawn from Masterson's own incredibly profitable career, The Reluctant Entrepreneur breaks down each part of the entrepreneurial process into a series of easy-to-follow steps, giving you the tools and advice you need to meet every challenge.
The essential guide for cautious individuals interested in entrepreneurship but wary of the risks, the book addresses the fears and misconceptions that are standing in your way, walking you through the necessary decisions you need to make before you even think about developing a business plan or talking with a bank. Written by a man who's made his fortune following the lessons laid out in these pages, this may well be the only book you need to start—and succeed—as a reluctant entrepreneur.
From the Back Cover
Praise for The Reluctant Entrepreneur
"There are too many business books published today, but The Reluctant Entrepreneur is a rarity—a business book worth many times its cover price, written by a successful businessman who has started many companies without taking undue risk."
—Robert W. Bly, copywriter and bestselling author
"Too many would-be entrepreneurs mistakenly believe they need a breakthrough technology, a patented product, or a visionary innovation to make it big in business. Just the opposite is true. As steel magnate Andrew Carnegie famously said, 'pioneering don't pay.' And in this wonderful new book, Michael Masterson shows aspiring entrepreneurs how organization, smart risk management, and the application of sound principles lead—almost inevitably—to real business success and enduring wealth. There's a lifetime of wisdom and experience in these pages, expressed simply and engagingly by the most successful entrepreneur I know. Why learn the hard way?"
—Alexander Green, author of Beyond Wealth: The Road Map to a Rich Life
"As the 'guru to the gurus,' I've coached tens of thousands of reluctant entrepreneurs, so I've seen firsthand how success is not a role of the dice, as Michael says. On the contrary, success is a systematic, strategic, engineered process—a process that anyone can do, if you have the right drive and the tools that Michael gives on the following pages. It's a must-read for any would-be entrepreneur. I recommend you take notes."
—Rich Schefren, author of the Internet Business Manifesto and CEO of Strategic Profits
"Michael Masterson's The Reluctant Entrepreneur: Turning Dreams into Profits is an honest and comprehensive blueprint on how to succeed when starting a new business. Like in real life and in his book, Michael leads by example, teaching newbie (and experienced) entrepreneurs step by step how to turn their ideas and passions into a profitable business."
—MaryEllen Tribby, CEO and founder of WorkingMomsOnly.com
"Finally, a book on creating your own business and financial independence with specific advice from someone who has been there and done that. The information in this book is not theory, but is backed by $50 million in real-world results. I recommend this book to anyone who is even thinking of starting a business. The section on creating your optimal selling strategy must not be missed."
—Craig Ballantyne, editor of EarlytoRise.com
"Another Michael Masterson tour de force. I wish I had this book many years ago. It would have saved me a ton of time, money, and headaches. Do yourself a favor—buy this book, grab a highlighter, and put these principles to work in your business. You'll never go wrong following Michael's sage advice."
—Noah St. John, inventor of Afformations and bestselling author of The Secret Code of Success
About the Author
Michael Masterson is not your typical businessman. An ex–Peace Corps volunteer, he never took a class in business, doesn't read the business press, and hates to talk business. He spends his spare time writing poetry, collecting fine art, and practicing Brazilian Jiu Jitsu. His neighbors call him a bohemian. But he's also an entrepreneur. He started his first business when he was eleven years old, and in the forty-five years that have elapsed since then, he has started or co-started dozens of successful businesses. The author of numerous business books, several of them New York Times and Wall Street Journal bestsellers, Masterson consults for private clients and writes the Palm Beach Letter, a newsletter for individual investors.
Most helpful customer reviews
13 of 14 people found the following review helpful.
USP Nugget
By kevin conroy
The Reluctant Entrepreneur-
I try to take away one big idea...this seems elementary, but most of us miss it when it comes to our own business.
Here it is!
USP - Best promotional copy focuses on one Big Idea and One Big Promise
Entire Process Looks Like This:
Make a list of every feature of your product you can think of
You make a separate list of every possible benefit those features can provide
Identify a rising trend in your market- a trend that is just beginning
Ask yourself "Which of my product benefits could tie into that trend?" Turn those benefits into potential USP's
Pick the strongest ones-the USPs that are most likely to resonate with prospects
For each of those USPs you come up with a Big Idea
For each of those Big Ideas, create one or several headlines that express a Big Promise
Make a list of all the possible specific claims you can make that are related to the Big Promise
For every claim, you make sure you have proof to back it up.
Write at least 2 versions of your promotion-each version expressing a different Big Idea and you test them
Take the version that works best and roll it out
Once you have a profitable promotion going, you immediately get started on your next test. There is always something to tweak to get better response.
Direct Response Selling:
You make promises
Demonstrate benefits
Make specific claims and prove those claims
Make an irresistible offer
Guarantee satisfaction
Anything else is completely unnecessary.
16 of 19 people found the following review helpful.
Michael Masterson IS a Guru
By bob3660
As a professionally-trained copywriter, I've studied under this guy and his credibility is above and beyond reproach. UNFORTUNATELY, I found this particular book of his to be pretty dry and boring - it was NOT a "page-turner" for me even though there's a lot of great info within the pages of this particular book.
It's worth the investment though because this guy IS at the top of his game and there is much to be learned from him!
5 of 5 people found the following review helpful.
Great book for entreprenuers from beginners to experienced
By clifford L. marshall
Michael Masterson has hit on all cyclinders when he wrote this book. If you ever wondered whether you had to be all in and sacrifice everything to be an entrepreneur and succeed this book will give you a different perspective.
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