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You Need to Be a Little Crazy

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You Need to Be a Little Crazy

The Truth about Starting and Growing Your Business

Kaplan Publishing,

15 min read
10 take-aways
Audio & text

What's inside?

Most new businesses fail within a few years – yet you want to open one. You must be crazy...and that's good.

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Editorial Rating

7

Qualities

  • Applicable

Recommendation

Author Barry J. Moltz is not a brilliant business strategist. He does not intend to propose a set of holy rules that, if followed, will ensure that your new enterprise is a roaring success. Indeed, one of his primary messages is that new businesses fail so routinely that only someone crazy would consider opening one. If that's you, think of Moltz as a revered mentor who has successfully negotiated several start-ups of his own, and has volunteered to talk to you about what opening your own business will entail. He discusses the character traits you need to make a successful go of things, how to deal with partners and employees, and the best ways to win customers and clients. While Moltz scatter-shots his concepts and points, getAbstract endorses his good-humored book, nevertheless, as a worthwhile guide. It offers numerous valuable lessons from a seasoned veteran on what starting a new business really entails. Consider yourself warned.

Summary

"To Start a Business You Must Be Nuts"

You must have a few screws loose if you want to go into business for yourself. The financial investment is huge, the hours are long, the work is hard and most business start-ups quickly fail. Author and "serial entrepreneur" Barry J. Moltz issues this warning while fully admitting that his own topsy-turvy history of small business failure and success may indicate that he qualifies high on the screwball scale.

His first business start-up lasted little more than a year and cost him $5,000. He started his second business after being fired from a plum job. It also failed, when it tried unsuccessfully to sell products its employees didn't understand. Eventually, Moltz's two partners took all the money he had invested and threw him aside.

Moltz started a third business, but his timing was terrible. He set to work shortly after his first son was born. "My father begged me not to start another business," he admits. Refusing to listen, he bulled ahead. His determination paid off. Finally, that start-up succeeded.

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About the Author

Barry J. Moltz is a veteran entrepreneur, angel investor, business coach and speaker on the subject of new businesses. A co-founder of a private start-ups' investor group, he is an advisory board member of the Illinois's Entrepreneurship Centers and chairman of the Midwest Angel Network Association.

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