Showing posts with label small business book review. Show all posts
Showing posts with label small business book review. Show all posts

Wednesday, July 22, 2015

The Five Important Business Metaphors from the Book Twelve Seconds

Though many of us can’t imagine a time without flight, the idea of taking flight is an undoubtedly comparable accomplishment. Nick Carter, the founder of AddressTwo, uses the momentous occasion of the first flight as the foundation for his book, Twelve Seconds. This book is unlike other business how-to books. Nick doesn’t give you specific rules to follow or the secret to doing business, he gives you relatable dialogue and lessons learned from his own experiences. Being an entrepreneur is much like being a pilot, and using flight as a business start-up metaphor is a fascinating concept. Here are five basic pieces of his metaphor to summarize the book.


  1. FLIGHT: THE BUSINESS PLAN
    Years ago, in what seems like a very distant past, flight seemed nothing short of a dream. For Orville and Wilbur Wright, they were able to make this dream a reality with a flight that lasted only 12 seconds. In those 12 seconds, the Wright brothers succeeded- they had conquered the task of lift. Though the duration of the flight was short, it was a success because of what they had set out to do. It wasn’t about just getting off the ground; that historic flight was about the package deal of lift off, flight, and landing. Additionally, this flight became repeatable. The fundamental physics of lift are still used in flight today.

    As many in the business world know, more than 50% of businesses fail in their first five years (some experts even estimate as many as 90% do not succeed). Planning a business isn’t just about the concept of getting the business in the air. You have to have a plan for the beginning, middle, and end of your business venture.  

  2. THE PILOT: THE BUSINESS OWNER 
    The concept of the business owner as the pilot is simplified, as it often is. But the idea is that to be a business owner, you have to THINK like a business owner. It’s both that simple and not that simple all at the same time. Without an entrepreneurial mindset, your business may never get off the ground. It’s kind of like the concept of “attitude is everything.” 

  3. MOMENTUM: MARKETING 
    To create momentum, one must have something better than just the perfect product. Momentum is all in how you market your product. One concept that is covered in Twelve Seconds is marketing your product as an object. Marketing isn’t about what YOU can do for your customers, it’s about what your PRODUCT can do for your customers. This is the age of customer centric marketing. Your customers need to know what pains your product is addressing to feel a personal attachment to your brand.

    Additionally, momentum is established through a sort of business law of inertia. There is always the idea of recurring revenue in your business, as is the case with many software companies. Subscriptions and memberships create this recurring revenue, and create momentum for the business in terms of continuous and predictable income. Beyond recurring revenues, Nick covers the ideas of planned obsolescence and captive consumables as marketing and momentum tactics. Without a plan for momentum, your business will remain grounded. 

  4. FUEL AND GAUGES: CAPITAL AND FINANCIAL STATEMENTS 
    Relating back to his book Unfunded, Nick compares the idea of fuel and business capital on a whole new level. He explains how your capital must have a gauge when going in to business for yourself. The instruments measuring your capital will allow you to know when there is real trouble in your business. It is important to keep an eye on how much money is being spent where.  

  5. THE CREW: EMPLOYEES 
    It’s about incorporating your business venture with the people you hire. Creating accountability, success, and even failure into your job descriptions. It is important to determine the crew that can man your business flight. If your “ground crew” would not adapt well to a change in your business industry without hand-held guidance, then it is probably not the crew you want to take flight with.

PAGES AT THE PROP: BUSINESS EDITION

Nick Carter will be at the Indianapolis Propylaeum to promote these metaphoric messages in Twelve Seconds on Tuesday August 11th at 11:30am. If you are a particularly entrepreneurial individual looking for ideas on how to get your current or future business venture off the ground, this is the event for you. Just as in his book, Nick’s speeches reach out to you on a personal level. Lunch will be provided alongside the lecture. Buy your tickets on Eventbrite TODAY. Group tickets are available at a discount and early bird tickets are discounted only through the end of July. You don’t want to miss out on this experience.

DOWNLOAD BEFORE YOU BUY


You can download the first chapter of the book and buy a copy for yourself on Nick's biz website. Whether you are in a struggling business, starting a new business, or just learning about entrepreneurship, Twelve Seconds is an easy reader packed full of Nick’s business know-how and interactions. It always helps to understand things from another person’s perspective, especially when they have learned as much about business as Nick Carter has.