Saturday, December 20, 2008

Book Review: "Retire - And Start Your Own Business"

This is a great introductory book. It is far too basic for anyone who has been involved in the high-level management of a company during their career. But I think this would be very useful information especially for all the women out there who are considering adding a home based business to their lives. On page 140, the authors say "Reputable network marketing organizations, such as...Mary Kay Cosmetics...sell quality products and services to their customers at competitive prices. Associates earn money from selling products or services themselves and from the sales made by associates they recruit into the business, but not from the act of recruitment alone. It is important to evaluate the requirements to on the lookout for exorbitant joining fees or requirements to make a significant investment in inventory." Excellent advice, which Mary Kay agrees with.

Step One is "Focus on yourself". 46 pages help you look at "what you want to do in retirement, what you value in life, where you want to live." A fascinating look at yourself to see if you even want a business or if other things are more important to you at your particular stage of life.

Step Two is "Inventory your resources". 56 pages examine your "skills, time, and money" available.

Step Three is "Generate great business ideas." 37 pages "show you lots of ways to find exciting business ideas." This part of the book was more vague and not as helpful as I was expecting it to be.

Step Four is "Choose your best busines idea." 34 pages "walk you through a series of reality checks." Much more content should have been developed here.

Step Five is "Get ready to launch your business." 71 pages review the basics: "legal issues, how to finance your business and write a sound business plan, how to handle income taxes and find good health insurance." Very basic overview of these topics would be good for anyone who has never had exposure to the information at all.

No comments: