Unlocking Your Entrepreneurial Potential

Book excerpt: BASED ON PERSONAL EXPERIENCE, THIS BUSINESS GUIDE SHARES PRINCIPLES, TECHNIQUES, STRATEGIES, AND TACTICS TO HELP SELF-FUNDED ENTREPRENEURS IMPROVE THEIR CHANCES OF SUCCESS. Statistics indicate more than 50 percent of all new businesses will fail within five years, and 50 percent of the survivors will fail during the following five-year period. But there are ways to survive and thrive. In Unlocking Your Entrepreneurial Potential, author and entrepreneur Tim S. McEneny shares insights from his thirty-year entrepreneurial career to help other self-funded entrepreneurs unlock their potential and improve their probability of success. McEneny discusses his mistakes, his successes, and his important business lessons; he also provides tips on such topics as hiring great people, investing, dealing with stress, and selling more to existing customers. He covers the basic information an entrepreneur needs to understand while navigating the life cycle of a business. From the perspectives of mind-set, marketing, money, and management, Unlocking Your Entrepreneurial Potential describes principles and techniques for a start-up businesss seven stages: Preparation and planning Launch through breakeven Achieving and maintaining profitability Growth Reinvention Decline (and cost-cutting) Selling the company. More than a self-help book, Unlocking Your Entrepreneurial Potential provides a prescription for economic prosperityfor the individual, the United States, and entrepreneurs throughout the world.