“Just Make Money” outlines the key requirements and mind-set required to become a successful entrepreneur.
As mentioned previously, the fact that I live in South Africa means that I do not prejudge a book by the reputation of the author.
For those like me who have never heard of Eric Casaburi, he is an entrepreneur of note, having founded Retro Fitness in 2002 and which now has 140 franchise units throughout the U.S.
If you aspire to become a successful entrepreneur, and want to know what it takes, “Just Make Money!: The Entrepreneur’s Handbook to Building the Life of Your Dreams” by Eric Casaburi delivers just that. Through his personal experiences and enthusiasm for success, Casaburi takes the reader through the various stages of the business cycle, and passes on a wealth of knowledge and useful advice.
“Just Make Money” commences with the author outlining the qualities that an entrepreneur will need to possess to become successful. Passion, determination and true enthusiasm, together with a desire to learn through reading, networking and observation are all common traits of the more accomplished entrepreneurs. Such skills states the author are not learned by going to college, and it is those entrepreneurs who do not really possess “that extra special quality of enthusiasm” who tend to fail:
“your enthusiasm and experience as an entrepreneur will take you much farther than your degree — it will take you as far as you want to go.”
Casaburi is keen to highlight the need to continuously evaluate your business and those of your competition. Good entrepreneurs never switch off and are always looking for information that will help to improve their business, whether it is through reading, attending seminars or watching other businesses in action. The key, explains the author, is to keep yourself at the peak stage of your business cycle.
This can be achieved by being innovative, knowing what your customers want before they do, and by never getting complacent particularly when things are going well.
“You can never stop improving in business. You can never rest on yesterday’s success. Being an entrepreneur is about continual growth.”
Debt is Not Always a Bad Thing
Many new entrepreneurs are reluctant to borrow money when starting up or expanding a business. They endeavor to keep costs as low as possible from the outset, with the intention to spend more money on the business when it is established and making money.
The point that the author makes in “Just Make Money” is that you need to spend money to make money.
To delay doing so leaves you open to the risk that someone else will see the same opportunity and grasp it before you do. With a solid business plan and through demonstrating your enthusiasm and belief in your business idea, money can be readily available.
“If you show a bank or a prospective business partner that you are a diligent, hardworking, consistent, and successful planner, you will get results; they will throw money at you.”
Never Neglect Your Marketing
Casaburi spends much time on the subject of marketing in “Just Make Money.” He explains how much a business should allocate to marketing, and the how to target your marketing to get the best results for the money spent.
Again, at the outset entrepreneurs often make the mistake of keeping their advertising and marketing costs to a bare minimum. Additionally, every business and entrepreneur will go through difficult times, and at such times cutting back on marketing and advertising costs are often seen as a way to save money.
“Too many new business owners make the mistake of cutting their marketing budget once things get tight, or their marketing budget is the last thing they add when starting out. Most people don’t realize it should be the reverse: money for marketing and advertising has to be the last thing that gets cut when times are tough.”
The Life/Work Balance
As I myself can attest, when starting a business it can be extremely difficult to strike the right balance between the time that you spend working on your business and the time you set aside for your personal life. In “Just Make Money” the author supplies advice on how this may be achieved, urging the reader to remember why they are working in the first place, and to recognize that there will come a point in time when there will be a need to have trust in others and the ability to delegate.
“You can’t be working on your business if you are working in your business every day.”
If there is one thing that stands out when reading “Just Make Money” it is Casaburi’s willingness to trust his instincts and to strive to take every opportunity or offer. He is a calculated risk taker, passionate, and almost addicted to doing business and making money.
I thoroughly enjoyed the book, and many of the things that I have either experienced or witnessed are detailed within. For anyone looking to start a business, this book will leave them with much to think about. Additionally, it should speed up the learning curve of any new entrepreneur, minimize the common mistakes made, and enable the newcomer to get their business off the ground on the right foot.
About the Author
Eric Casaburi (@) opened his first business at just 23. He is the CEO and founder of Retro Fitness, which employs more than 1,200 people throughout the country.