Say Goodbye to the Boss: You're Never Too Old or Too Dumb to be a Successful Business Owner

By Charlie Alexander

Thousands of new businesses were started during the pandemic, a great many of them will fail.

Learn from a seasoned entrepreneurial expert what it takes to plan, start and run a successful business that will provide the lifestyle you desire and produce true wealth for you and your family for generations to come.

After 37 years of owning 19 businesses in 9 different industries it is safe to say Charlie has learned a thing or two about what it takes to succeed. In his book, "Say Goodbye to the Boss", he takes a deep dive approach to helping you explore things that most people never even think of when starting a a business.

It is critical that you understand every aspect of what your getting into before spending time and money on a dream that may become a nightmare. Charlie helps you understand how to avoid the most common pitfalls that befall most new businesses and sets you on a path of independent thinking; he would much rather teach you how to start a business than collect consulting fee's doing it for you.

There are tips and tricks in this book that comes from decades in the trenches, learning from the basement to the boardroom and beyond.

If your interested in starting a business and are serious about putting the work in, this book is for you. It will save you tremendous time and effort in figuring out, first and foremost, if you should even consider tackling the big responsibilities of business ownership. And then will take you step by step, using a proven method developed over many decades, on the journey to become a successful business owner.

• Language: English
• Publisher: BookBaby
• Release date: May 1, 2023
• ISBN: 9781667846682

Book preview

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Copyright © 2022 by Charlie Alexander

All rights reserved. This book or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher except for the use of brief quotations in a book review.

Print ISBN: 978-1-66784-667-5

eBook ISBN: 978-1-66784-668-2

Table of Contents

Chapter 1 Introduction

Chapter 2 Step One: Clearly Define Your Vision of Success

Chapter 3 Step Two: Create Your Business Advisory

Chapter 4 Step Three: How to Research, aka, Test, Test, Test

Chapter 5 Step Four: The Successful Launch

Chapter 6 Step Five: How to Sustain Success

Chapter 7 Begin with The End in Mind: Exit Strategies

Chapter 8 4 Skill Sets That All Entrepreneurs Need To Succeed

Chapter 9 Why Charlie?

Chapter 1

Introduction

You’re never too old or too dumb to be an entrepreneur. – Charlie-ism

As a research fanatic I was digging through the data to determine who is actually building new businesses. It turns out that it is not fresh faced college grads, it is people on the full age spectrum with varying levels of education who have decided they would rather work on their own enterprise. The one thing all these people have in common is they decided to say goodbye to the boss and essentially become the boss. If that is your idea of success, and you are willing to be fearless and work your tail off, then I can help you build your business.

But first, start with reminding yourself that you have what it takes to run a business.

Most first time business owners fail, you don’t have to be one of them!

Many people fall into the, Yeah, that’s true, but it wouldn’t won’t be me category when talking about first time business failures. It is that very arrogance that causes many people to fail miserably in their first business venture. Don’t be one of them. Remember Proverbs 16:18 Pride goeth before a fall.

The golden nuggets of information contained in this book are woven throughout to help you avoid the pitfalls of an uninformed entrepreneur. As you read keep this in mind; you know what you know, but you don’t know what you don’t know. And, if you want to know how to start and successfully run a business you’ll spend time and energy learning – that is exactly what any successful business owner has done for centuries. My lessons will save you lots of money, time, and much heartache on your journey to successful business ownership.

WHY YOU?

It is all about attitude. You have a dream of being a business owner, you have the energy and the willingness to learn, and you are also willing to take a calculated risk because there is no Plan B.

Wait, what? I hear you thinking. You are going to build a solid business plan and then execute it so well that there is no other option but success.

Not to get too corny, but it has become something of a life mission of mine to help as many people as possible enjoy a financially secure retirement through business ownership. Thousands of people own small- to medium-sized businesses, enjoy their entrepreneurial freedom, and are financially secure—so there is certainly no reason why you cannot join that club.

To get the most from this book and from the EntreLearn Program (more about that later…) you must put forth the effort. If you are serious about starting a business and want to virtually guarantee your success, read this book and enroll in my program. Once you complete them you’ll fully understand why I use the term arrogance.

I have attempted to maintain a balance between the professional advisor and the friend who really wants to see you succeed in whatever your endeavor may be.

WHY ME?

I asked this question myself repeatedly for the last few years as I prepared to write this book and create the EntreLearn Community.

You see, I am ever the businessperson; I cannot help but calculate ROI (Return on Investment) even when it involves putting myself in the other person’s shoes. At this stage of my life, it is just who I am. I do it instinctively… My wife gets a kick when we are somewhere standing in line or spectating at an event—it doesn’t really matter where or what—and I am always calculating the potential revenue and estimated expenses involved with what is right there in front of me.

As you will learn from reading this book, I have been doing business for the last four decades; or, in other words, I have been doing business most of my life, owning and running small- to medium-sized businesses.

Here is the trimmed-down, fat-off-the bone answer as to why, if you truly want to succeed in your first business, you will want to spend time reading this book: you will learn valuable life and business lessons from a two-time cancer survivor with 40+ years of genuine hands-on entrepreneurial experience starting, running, and exiting 17 businesses in eight industries.

One who went through Business Grad and Law school in his forties, obtaining MBA and Juris Doctorate degrees respectively, while simultaneously and successfully turning around a failing restaurant utilizing inexperienced management.

I will be weaving personal stories into sections of the book when they are pertinent to the subject at hand. Additionally, I will include what I call Charlie-isms, sayings I have developed over the years that sum up and/or capture an important life lesson from that particular moment or experience. I will also include capsulized lessons I have learned over the years.

There are many books out there on starting up a business, but this book provides both the key concepts and practical wisdom from a proven successful startup entrepreneur. So let’s start this journey together. It is my wish that you gain enough confidence and understanding that by the time you finish this book, you are energized and determined to use the lessons I share to create a future for yourself and your family full of joy and financial security.

As I used to say when I was teaching my kids to water ski, Let the boat do the work … I’ll take up the slack in the line… And we go …! So, I have already done the work, the book will take up the slack for you - and we go!

Chapter 2

Step One: Clearly Define Your Vision of Success

Beat the odds by following the correct path.

Anyone who’s seriously researched starting their own business knows that according to the U.S. Department of Labor, approximately 50 percent of business start-ups will fail by year five, and approximately 66 percent will fail by year ten. But, I can show you that it does not have to be that way for you.

This book is for people who, for numerous reasons, want or need to operate their own business venture. Perhaps you are looking to pursue a lifelong dream of being your own boss, or want to take up a socially responsible endeavor and need to make some money to help support it. Or maybe you believe you have a product or service that is far above all others and feel it could be the next great thing.

Most purported experts, when talking about starting a business, do not specifically address how or where to actually begin. Oftentimes, this is because they have not experienced running a business for themselves, hands on, and/or have not analyzed it carefully. The most frequent question I get is, Hey, I’m thinking about starting a business; should I form an S Corporation or an LLC? That is a strong indication to me that the person has not delved into what I call The Four W’s of Success.

WHY, WHAT, WHEN, & WHERE

The four W’s are Why, What, When, and Where. Successful entrepreneurs take the time to think through these questions to the point of finding their true, deep, and personal answers. The answers to these questions will literally form the foundation of your business, and they can ultimately determine the heights of your success.

REALLY, WHY?

Quite simply, why are you doing this?

The 4 W’s seem pretty easy. Why? What? When? Where?

Why? - ???. . . hmmm, come to think of it, that’s not as easy to answer as it may first seem.

What? You have your idea or product/service.

When? Your timeframe is usually based on products, market, inventory, staffing, etc. These will set a timeframe as you’re building your business. And of course, setting an opening day is always a huge step!

Where? Usually the geographic area you’ve already planted yourself into or are in the process of making that move.

But, the Why. The why is tricky.

We’re going to need to spend some time on the Why.

The Why of their business can be hard for a lot of new entrepreneurs to find. Especially if you’re not great at talking through your own emotions and feelings. Most people aren’t able to talk about their warm and fuzzy feelings with others, much less discuss the things that genuinely drive them or stop them in their tracks. The truly successful people can tell you their why and make you a believer in their product or service, just by telling you their story of why. It’s that powerful!

The answer may seem simple. Standard answers initially are for my kids or for my family or immigration family history. While, yes, these are all good reasons and they are a part of your why, they alone are not enough to drive you to success. Those are not truly your entire why. It’s about answering your why, and then digging deeper with the additional, why.

Some will say, My kids are my why. - Why?

Some will say, My parents both immigrated here with nothing, they’re my why. - Why?

The hard part of exploring the why is taking the time to ask the tough questions.

Why has this one thing impacted my life?

Why is it so important for me to do this?

Why am I really feeling like I owe this to x, y or z?

Why are my personal values leading me to need to do this?

There is a great article from small business advisor, Marla Tabaka, where she speaks at length about The Most Important Question for Achieving Success. In her article, she goes through a series of questions that may be helpful to you. I’ve found myself using similar questions as I’ve started my own businesses through the years. She speaks about how these questions, well the answers actually, usually lead people to tears. Deep, meaningful tears that rock their world. This one little question should be given due respect and plenty of time. Your entire business purpose, principle and model are buried in your why.

Begin with the following questions and, after each one, ask Why? Why is this true? Why is it important to me? Why do I feel so strongly about this? Why, why, why? When you believe you have the answer, ask again—Why? Use your feelings as the gauge; they will tell you when you finally arrive at the real answer.

What is the most important thing in the world to me?

When I lose all track of time, I am usually doing [what].

I get most excited and passionate when I talk about [what].

If money were not an issue, I would volunteer my time and money to do [what].

If there was one thing in the world that I could change, what would it be?

What world issue matters most to me?

If I did a TED talk, what would my core message be?

What are my personal values? (This, too, goes deeper than you may believe and is another process that you may need help going through.)

Remember, to find the freedom that is so important to you, this is the single most important piece of information to wrap your heart and mind around. Devote the time, energy, and money, if necessary, to find your real why!

(https://www.inc.com/marla-tabaka/finding-your-why-you-may-be-missing-the-most-important-step.html)

However you get there, it is imperative that you find your true Why. Being able to dig into the true reasons behind your why, is a humbling act. Humble yourself to the point of earth shaking tears to find your true Why. It will be worth it and your convictions and drive will be that much stronger when going through this process and sustaining a successful business.

We’re talking about people who typically want to leave a controlled and structured environment, such as corporate America or a union job, to invest in an opportunity to take control for themselves. These are people with discipline and emotional intelligence who will fully appreciate the exercise of going through the four W’s. And they are expecting to succeed. They have no Plan B in their back pocket.

While you may think that everyone who starts a business is expecting to succeed, frequently people go into a business with an attitude that failure is an option and trying is enough. As Yoda says, Do or do not. There is no try.

The business model for this book is not something you can do at your kitchen table; we’re not talking about a consulting practice. My experience is in running businesses with offices, retail outlets, restaurants, manufacturing, and service providers with employees, and all that goes with it. If you are happy as a consultant, great, this book is not for you. If you have a bigger idea then we can work together to get your Plan A in order.

Speaking of food and beverage service, a restaurant deserves special mention because it is probably the only business model where everything is done under one roof. You get raw product in—figuratively speaking—at one end of production, where that raw product is ultimately transformed into a final product on the other end. That final product is then sold under that same roof, with customer service performed under that same roof as well.

Think about that in contrast to building an automobile, in which the raw product often goes to a subcontractor or a vendor who will manipulate that raw product into a door or a latch or a body part of some sort. Those products are then shipped to an assembly factory where they are turned into an automobile. The automobile is then shipped to a distributor, who in turn ships it out to the dealerships, which produce sales. Post-sale service, of course, is handled either at a facility within or near the dealership, or by the customer’s local mechanic. So, apologies for going off on a tangent, but I felt the example of a business that requires a wide swath of skills all under one roof, typically performed by a small group of people, was worth pointing out when discussing the tremendous responsibility of ownership.

WHY?

Why do you want to start a business? This goes to the psychology of who you are as a person. Is it because you are looking into the future and absolutely know you will need additional revenue to maintain the lifestyle you’ve become accustomed to? Is it because you have always wanted to be your own boss and like what you think that represents? Are you a person who is a good problem solver and sees how business could be managed more easily? Is it because you have a product or service you’ve been working on at your computer or in your garage and you feel there is a strong demand for it? Or is it because you have a passion to create a socially responsible endeavor to lift up those less fortunate or address some other community need that you feel