Do you have the knack to create a virtual business? If you’re thinking of starting up a virtual business, or have an emerging business that can benefit from the virtual model, I’d recommend you read The Knack: How Street-Smart Entrepreneurs Learn to Handle Whatever Comes Up by Norm Brodsky and Bo Burlingham. The Knack offers a common sense approach to entrepreneurship and truly embraces a clear understanding of the common pitfalls, erroneous impressions, and unrealistic perspectives that can often impede emerging businesses. In some regards this can be summed up as unjustified optimism that plagues most startups. The Knack addresses issues like cash flow planning, margins, expenses (and creeping expenses) and discounts in a simple and straightforward manner which should be of help to any small or emerging business.
Of course, if your business is virtual, or you apply my virtual model to your current business, you’ll inherently keep expenses low and improve efficiency. This improves the odds for almost any emerging or small business, though you still want to have the knack for keeping cash flow, margins, expenses and discounts in check. Check out The Knack – it’s a good read…