Tuesday AM December 15th, 2009
by: Ed Mayberry, December 15, 2009 5:12:00 am
There are ways to take advantage of hidden opportunities and extinguish roadblocks to success. Drawing from his mistakes and triumphs in more than 20 years of business, author John Perfetto shares his insights in Wrong to Right.
"Going through institutional education does not really prepare anyone to actually run a small business. And that's what the book was centered on, was try to get some insight into the mindset that you actually need to succeed in small business. Most small business owners do everything—clean the floors, wash the windows, pay the bills, and try to keep all those balls in the air while maintaining a blanace sheet that keeps them afloat."
Perfetto says the old rules we've been taught about the factors that contribute to a company's success generally do not reward the risk-taking entrepreneurial mindset.
"It's tried to eliminate a lot of the pre-conceived notions that owning a small business is an easier time of it than working for someone. It isn't. It's not even close. There's a very low percentage of folks that actually succeed in small business beyond the two, three, four-year mark. And look at numbers by the SBA that are staggering. It's going to be an all-out effort just to survive, to establish enough momentum to have a business survive beyond that."
Perfetto says business owners should never solely rely on human resources to select employees.