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 didn’t the odds of their success would seem daunting,   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  they are often weak on  substance and heavy with  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 free 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  preorder your copy of The Entrepreneur Equation here:  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.

About Angel Djambazov

Born in Bulgaria, Angel Djambazov has spent his professional career in the fields of journalism and online marketing. In his journalistic career he worked as an editor on several newspapers and was the founding Editor-in-Chief of Wyoming Homes and Living Magazine. Later his career path led to online marketing where while working at OnlineShoes he earned the Affiliate Manager of the Year (2006) award at the Affiliate Summit, and In-house Manager of the Year (2006) award by ABestWeb.

For four years Angel served as OPM for Jones Soda for which he won his second Affiliate Manger of the Year (2009) award at Affiliate Summit.

Currently Angel serves as OPM for KEEN Footwear and MedicalRecords.com. His former clients include: Dell, Real Networks, Jones Soda, Intelius, Graphicly, Chrome Bags, Onlineshoes.com, Vitamin Angels, The Safecig, and Bag Borrow or Steal.

Angel is the Editor-in-Chief and Co-Publisher for ReveNews.com and ReveNews.org.

Angel lives north of Seattle, spending his free time reading up on obscure scientific references made by his wife MGX, while keeping up with a horde of cats and a library of books.

You can find Angel on Twitter @djambazov.

One Response to Here We Go: Carol Roth’s Equation Helps Calculate Your Business Trajectory

  1. Pat Grady says:

    i agree that bad competitors are bad for you, but on a macro level, meaning bad for the market. when you’re uber small, bad competitors are good (for you) – they leave the door wide open to enter, and do it better. i think entrepreneurs equate muck with opportunity. as such, and especially for me, “never quote me the odds” is a glimpse into the hope that fuels an entrepreneur’s dreams. it may be a well of hope, but it feels more like a warm summer rain.