Burn the Business Plan: What Great Entrepreneurs Really Do (Carl J. Schramm, 2018)

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  • You can only learn by doing; every startup has one CEO; if opportunity doesn’t knock, build your own door
  • Engender (give rise to) stratospheric level of loyalty customers
  • Heinz’s sauce: think and home-made until they develop a factory. Singer sewing machine give instalment plan when people cannot afford. Apple creates its own ecosystem with App Store and education, they also moved into B2G
  • The best way to protect your idea is to grow it
  • Promulgate: promote or make widely known an idea of cause - business must be able to duplicate

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Discover the Secrets of Marketing That Works Exposed: 47 Time-tested Strategies To Boost Sales, Get Famous & Put Cash In Your Pockets - Fast! (Michael X. Branson, 2014)

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Mentality is important: accept there is money in your local marketplace, take advantage of the opportunities the recession created, make decisions based on numbers and not opinions Know your numbers Leads x sales conversion = customers Customers x average transaction value x transaction frequency = revenue Revenue x margin = profit Lifetime value (LV) = profit / customers Cost Per Customer (CPC) = marketing investment / customers Cash on Cash Return (CoCR) % = LV / CPC x 100 Know where your customers come from Run competition, privileged club and continuity programs Write to woo customers’ emotions and not their logic - write and submit informative and educational articles online When everybody is your customer, nobody is Developing unique selling distinction = purple cow Customise promotions & sales for every customer - up-sell, cross-sell & down-sell
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