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Entrepreneurs Should Keep Business Simple
At the outset of the book Common Sense Business, Gottry espouses the FANAFI principle, which is “find a need and fill it.”The advice he offers is detailed and organized. Small businesses, he says, go through six stages:
- Dreaming.
- Planning.
- Implementation.
- Growth.
- Preservation and evolution
- Selling/divesting.
For success during the growth stage, for example, Gottry says entrepreneurs must find hungry, eager employees; keep the business structure simple; and make the best use of up-to-date technology.
Gottry encourages prospective entrepreneurs to boldly launch small-business ventures, but cautions that they must be aware of what they must do in times both of prosperity and of hardship. He’s learned that “it’s not the big blunders that put companies under; it is the little day-to-day slip-ups and oversights that lead to disaster.”
The business owner, Gottry says, is the company’s single greatest asset — his or her dreams, drive and vision. Among his tips are for owners to be enthusiastic, to have a positive attitude and to draw on their faith for sustenance. To stay one step ahead, Gottry tells owners to learn something new every day, to constantly hone their skills and to come to terms with their pasts.
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