Book Recommendations for small business

[gobermitcheese]

I have been lurking here for a long time and this is my first thread.

I recently have been discussing the idea of start a small grocery business in a small town. The idea is only in the very early stages and I am looking for good books that could help me think about all the relevant issues with this type of business.

So my question is what books do you think would be worthwhile for me to read, I am looking for about a dozen. They can cover management, retailing, taxes, financing, or any other topics you think are relevant. I look forward to hearing everyones recommendations!

[straydog]

Apr 16, 2011 11:02:48 GMT -5 gobermitcheese said:

I have been lurking here for a long time and this is my first thread.

I recently have been discussing the idea of start a small grocery business in a small town. The idea is only in the very early stages and I am looking for good books that could help me think about all the relevant issues with this type of business.

So my question is what books do you think would be worthwhile for me to read, I am looking for about a dozen. They can cover management, retailing, taxes, financing, or any other topics you think are relevant. I look forward to hearing everyones recommendations!

I am also in the first stages of looking into starting a brick and mortar business in my area. I just checked this out of my library:

"The Small Business Bible: Everything You Need to Know to Succeed in Your Small Business" by Steven D. Strauss.

I took out the Audio book version that has 9 Cd's.

[gobermitcheese]

Thanks Straydog I will have to read that one!

[AgeOfEnlightenmentSCP]

ESSENTIAL: The E-Myth Revisited: Why Most Small Businesses Don't Work, and What To Do About It -- by Michael Gerber.

[straydog]

Apr 18, 2011 0:18:36 GMT -5 AgeOfEnlightenmentSCP said:

ESSENTIAL: The E-Myth Revisited: Why Most Small Businesses Don't Work, and What To Do About It -- by Michael Gerber.

Thanks Paul, it also has alot of great reviews on Amazon too. Added to must read list.

[Savoir Faire-Demogague in NJ]

The best education in what a small business is all about, is to get a job, doing anything in a small business and work there for five years.
You are interested in owning/starting/running a small grocery store, then get a job in the one in your neighborhood.

[gobermitcheese]

I currently work in the grocery industry and am learning alot. I have about five years with the same company. Unfortunately my experience until now is mostly with prepared foods.

The problem right now is that I work for a boss that thinks 99% quality customer service makes you an absolute failure. I really just am tired of working for other people and would like to build something of my own.

[gobermitcheese]

Thanks Paul I will have to read that one, I figured you would have a good answer and am glad you replied.

[magichat]

Working for Yourself published by Nolo.

[gobermitcheese]

Working for Yourself published by Nolo.

This one is on the list now too.

[Deleted]

I'll 2nd Paul's recommendation.....E-Myth Revisited is 100% MUST READ. No question about it.

[Savoir Faire-Demogague in NJ]

The problem right now is that I work for a boss that thinks 99% quality customer service makes you an absolute failure. I really just am tired of working for other people and would like to build something of my own.

If you really think hard about this, you are replacing your boss with customers who are paying you money.
Think your boss is hard to deal with, try dealing with cranky customers demanding a refund of money.

[straydog]

Apr 18, 2011 15:02:13 GMT -5 Savoir Faire-Demogague in NJ said:

The problem right now is that I work for a boss that thinks 99% quality customer service makes you an absolute failure. I really just am tired of working for other people and would like to build something of my own.

If you really think hard about this, you are replacing your boss with customers who are paying you money.
Think your boss is hard to deal with, try dealing with cranky customers demanding a refund of money.

Well I'm not Gobermitcheese, but I'll answer for myself. I am going to have to deal with them anyway. But I would rather deal with them knowing that if they were not satisfied about something - for whatever reason, they cannot go back to my manager and make a complaint against me which could get me into hot water. And that will take a lot of pressure and stress off of my back.

Now I do not have a college degree, but I've been in the service sector all my adult life. I know that you have to bend over backwards for customers, because if they are happy and satisfied, they will tell something like 3-5 people. However, if they walk away angry and unsatisfied, then they are more likely to tell over 10 people about their bad experience.

[gobermitcheese]

Well I'm not Gobermitcheese, but I'll answer for myself. I am going to have to deal with them anyway. But I would rather deal with them knowing that if they were not satisfied about something - for whatever reason, they cannot go back to my manager and make a complaint against me which could get me into hot water. And that will take a lot of pressure and stress off of my back.

Now I do not have a college degree, but I've been in the service sector all my adult life. I know that you have to bend over backwards for customers, because if they are happy and satisfied, they will tell something like 3-5 people. However, if they walk away angry and unsatisfied, then they are more likely to tell over 10 people about their bad experience.

This is basically how I see it. I understand how customers can be particular and unreasonable and generally don't mind dealing with customers. I think most customers will not be an issue for well run busnesses that are customer focused. The problem is that the store I work for now has literally denied me a promotion because I did not smile during a mystery shopper survey. This is despite the customer noting that employees were all pleasant an professional and the fact that many other employees lost points for the exact same issue, even the really happy people that are known top smile all the time.

[tskeeter]

gobermitcheese, not a book, but a resource that could be really helpful is SCORE, the Service Corps of Retired Executives. SCORE is a partner with the federal Small Business Administration. SCORE can provide you with access to real world experts in most any facet of a business. See www.score.org for mentoring, workshops, and on-line resources.

I think the place I would begin in starting a small business would be the preparation of a business plan. I think the business plan process would help you identify and think through many of the issues you will have to deal with as you start your small business. Preparing the plan may also help you get a sense for whether your dream is viable under the circumstances you have chosen. Can anyone recommend a good "how to prepare a business plan" book for gobermit?

While I am reluctant to rain on your parade, I'd like to caution you to be very careful to identify as many obstacles to your plan as possible. As I understand the grocery business, never having run a grocery store, but working for a grocery products marketer for more than two decades, grocery stores are about high volume, large selection, and low prices (read "low margins" here). When you talk small grocery, I tend to think niche market, kind of like Trader Joe's or Whole Foods. When you talk about small town, I think about really small niche market and wonder how big a market must exist to provide you adequate income. I also think about the small grocery in a town where I grew up. The grocery was one of three in a small town in a tourist area. The owner of the small grocery was the best meat cutter within 100 miles. Even though summer residents would cart a freezer full of meat from the small store home each fall and even though the store was the meat supplier for most of the local restaurants, the small store just wasn't able to generate the sales volume to provide the owner more than a marginal living. After years of struggle and ulcers, the small store closed and the meat cutter went to work for one of the other grocery stores. So please ask yourself, what is it about your proposed business that will allow you to avoid a similar situation?

Striking out on your own is a courageous move. Here's wishing you the best of luck!

[straydog]

Gobermitcheese:
This is basically how I see it. I understand how customers can be particular and unreasonable and generally don't mind dealing with customers. I think most customers will not be an issue for well run busnesses that are customer focused. The problem is that the store I work for now has literally denied me a promotion because I did not smile during a mystery shopper survey. This is despite the customer noting that employees were all pleasant an professional and the fact that many other employees lost points for the exact same issue, even the really happy people that are known top smile all the time.

SD:
Yup, I definitely understand what your talking about. In other posts I mentioned that I have a disability that sometimes leaves me in so much pain, that I can barely see where I'm going. But I still had to go to work when scheduled.

One day, I was in excruciating pain and took a phone order. Well the customer did not think that I sounded like I wanted to take his order. I did not think that I was being disrespectful or rude, but he did not like my tone and immediately called back to complain to my manager.

My manager scolded me and told me that if the (new) owner had been there, I might have been fired, despite being there for 5 years. I can hardly wait to be an entrepreneur!

[gobermitcheese]

I can hardly wait to be an entrepreneur!

I second that sentiment!

[straydog]

Apr 19, 2011 16:06:04 GMT -5 tskeeter said:

gobermitcheese, not a book, but a resource that could be really helpful is SCORE, the Service Corps of Retired Executives. SCORE is a partner with the federal Small Business Administration. SCORE can provide you with access to real world experts in most any facet of a business. See www.score.org for mentoring, workshops, and on-line resources.

I think the place I would begin in starting a small business would be the preparation of a business plan. I think the business plan process would help you identify and think through many of the issues you will have to deal with as you start your small business. Preparing the plan may also help you get a sense for whether your dream is viable under the circumstances you have chosen. Can anyone recommend a good "how to prepare a business plan" book for gobermit?

While I am reluctant to rain on your parade, I'd like to caution you to be very careful to identify as many obstacles to your plan as possible. As I understand the grocery business, never having run a grocery store, but working for a grocery products marketer for more than two decades, grocery stores are about high volume, large selection, and low prices (read "low margins" here). When you talk small grocery, I tend to think niche market, kind of like Trader Joe's or Whole Foods. When you talk about small town, I think about really small niche market and wonder how big a market must exist to provide you adequate income. I also think about the small grocery in a town where I grew up. The grocery was one of three in a small town in a tourist area. The owner of the small grocery was the best meat cutter within 100 miles. Even though summer residents would cart a freezer full of meat from the small store home each fall and even though the store was the meat supplier for most of the local restaurants, the small store just wasn't able to generate the sales volume to provide the owner more than a marginal living. After years of struggle and ulcers, the small store closed and the meat cutter went to work for one of the other grocery stores. So please ask yourself, what is it about your proposed business that will allow you to avoid a similar situation?

Striking out on your own is a courageous move. Here's wishing you the best of luck!

Thanks Tskeeter, I will also look into this organization.