Here We Go: Carol Roth’s Equation Helps Calculate Your Business Trajectory
(Full Disclosure: Carol Roth is a good friend and fellow foodie. However, this is not a paid endorsement and it is a genuinely good book.)
If I had to pick a motto for entrepreneurs it would be Han Solo’s quip, “Never quote me the odds.” Entrepreneurs by nature tend to ignore data that doesn’t fit into their vision. If they didnâ€™t the odds of their success would seem daunting, Â Â And while it is true that a brash, cocksure attitude can get you far, it can’t be the only thing sustaining your business. Reality always encroaches. When it does, you’d better hope you’ve plotted your course through that asteroid field well.
That’s where Carol Roth’s new book The Entrepreneur Equation comes in. Now, I generally stay away from business books since Â they are often weak on Â substance and heavy with Â page after page of pep talk. Mercifully, Carol isn’t interested in being your cheerleader. She is interested in making you think and providing a clear set of guidelines against which you can measure the resources you have at hand. Carol is also not afraid to tell you that if after you’ve run the equation and the numbers don’t add up then maybe you don’t have the right formula to be an entrepreneur. In this day and age to highlight what is considered the “third rail” in business books is a bold statement.
One particular section which resonated with me was the concept that: Bad Competitors Are Bad for You, Too. My primary business is in and around the Affiliate Marketing industry, so Carol’s words ran very true, “Bad competitors poison the well.” If potential customers or clients have a negative experience due to a bad competitor it becomes that much harder to earn their business. Affiliate marketing has had more than its share of bad players (heck every year there is talk about “re-branding” the industry). Incidents like Digital Point Solutions and Kessler’s Flying Circus indictments for allegedly stealing over $20 million dollars in commissions only serve to make it difficult for legitimate affiliates to earn a living.
I think you will find your own gems to enjoy in The Entrepreneur Equation. Carol plays out many scenarios that ring true. She does with in a manner that is one part Amy Smith (of MIT’s D-Lab) and one part Kathy Griffin (comedian) which is a combination that is both easy to read and informative.
True to her passion to help entrepreneurs succeed Carol is donating one book to SCORE.org, a foundation that provides freeÂ and confidential small business advice to budding entrepreneurs, for every preorder of her book between now and February 18th. If you are interested you can Â preorder your copy of The Entrepreneur Equation here:Â http://theentrepreneurequation.com/special-offers/
Worth checking out before you jump back into that asteroid field I lovingly call entrepreneurship; it is bound to make your life a little less harrowing.