Built Not Born (Tom Golisano; Mike Wicks, 2020)

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Review: summarised how was Paychex being built up with all the essential pointers. Rated: 8.5/10.

  • Business plan essentials
    • Executive summary
    • Profit and loss statement
    • Human resources
    • Product or service
    • Financials
    • Industry and market sector
    • Customers
    • Market research
    • Competition
    • Price
    • Marketing
    • Sales
    • Production
    • Distribution
    • Administration
  • Buying a business
    • The benefits
    • Due diligence
    • Advancing technology
    • The financials
    • The inventory minefield
  • Source of financing
    • Self-financing (put your money where your mouth is)
    • Sweat equity
    • Banks
    • Venture capital
  • Would you buy what you sell?
  • It’s not a cash flow problem, it’s a sales problem
  • Elephant client: sizeable percentage of your overall sales
  • Hire for attitude, train for skill, fire when necessary
  • Lead, follow or get out of the way
  • Never negotiate from an ultimatum
  • Basic sales
    • Prospect
    • Handling objections
    • Recognising buying signal
    • Trial closes
    • Close early and close often


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