TIMEOUT!: Strategies to FOCUS your Small Business and make it Thrive

By Bill Duthler

Has your business progressed like you thought it would? Are you working more hours than ever but still feeling further behind? Are you like most business owners who are too busy to think about the important stuff? TIMEOUT!

According to the Small Business Administration, half of small businesses fail in the first five years. Not taking time to think is one of the most common reasons.
Most owners juggle innumerable issues while trying to run their companies and often lose sight of the big picture. It is time to regain focus.
Using the five tenets of Duthler's FOCUS strategy, TIMEOUT will help you separate the important from the urgent. This book will also help you restore your sense of confidence that you are working smarter and on the right things.
This book will help you determine whether your business is operating correctly, headed in the right direction, and that you are communicating effectively with your team and your clients.

Whether your business needs a simple course correction or a complete reboot, TIMEOUT will help you think in new ways to make your business thrive.

• Language: English
• Publisher: Bill Duthler
• Release date: May 23, 2011
• ISBN: 9781935953227

Bill Duthler

BILL DUTHLER While Bill spent some time in corporate life, he spent over 30 years owning two small businesses. One was a retail chain of sores in western Michigan, which had been started by his father. After modifying the company to make it more profitable, he finally sold it to a local competitor who wanted to grow. Bill's more recent business was a commercial office furniture dealership in the Bay Area of California. He and a partner started this business from scratch and built in such a way that it became attractive to several buyers. They decided to sell it after about twenty years. Bill learned that owning a small business is a wonderful way to spend a career. It allows for independence, creativity and a real sense of accomplishment. Currently, Bill is retired, volunteering for SCORE as a business counselor, teaching several business courses and has just concluded writing TIMEOUT. His purpose is to encourage those who currently own a business and help them focus on what's important.

Book preview

TIMEOUT!

Strategies to FOCUS Your Small Business and Make It Thrive

By:

Bill Duthler

Published by Authority Publishing at Smashwords

Copyright © 2011 by Bill Duthler. All rights reserved.

Smashwords Edition, License Notes

This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each person. If you're reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional when appropriate. Neither the publisher nor the author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, personal, or other damages.

1. Business & Economics : Small Business - General 2. Business & Economics : Leadership 3. Business & Economics : Strategic Planning

ISBN: 978-1-935953-22-7

Original Copyright © 2011 by Bill Duthler

Revised Edition

This book is available in print at www.timeoutforbusiness.com

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Table of Contents

Why You Should Read This Book

This chapter lays out what to expect in the book. The purpose of this book is to encourage you as a business owner. I know owning a business can be difficult, but I also know how wonderful it can be.

The Alligators

When the alligators have you pinned down, you need to remember why you started your business in the first place. Why being in business is such a great opportunity.

Small Business Statistics

Small businesses make up 99% of all businesses in the U.S. You are part of a very large family that experiences exactly what you are going through.

The Small Business Failure Rate

The failure rate for small businesses is extremely high—why? We will discuss how to avoid this terrible conclusion by focusing on how to grow.

The Three Legs of a Thriving Business

Learn a method for categorizing the most important issues in your business. This will reduce the size of the mountain of things you have to think about.

FOCUS

FOCUS is an acronym that will help you remember the most important issues in business.

F: a Fresh Look

A discussion about the need for business owners to stop and think about where they are going and why. It is a 30,000-foot-high view and a chance to look at what’s important.

O: Own the Leadership and Own a Niche

As the business owner you must OWN the leadership of your company for the benefit of everyone around you. You must also OWN a niche that your business can call home.

C: be Client Focused

Your clients rule. No matter what, customers come first. Your business should be designed to serve them. Once it is, you have a sustainable platform.

U: be Unique and Message Uniquely

Your business must be unique in some recognizable, client-beneficial way. Learn how to write a unique message to attract more of your best clients.

S: Structure and Systems

Systems help you to be better organized and structure your business to help make it become solidly reliable. Your clients want to be assured of your longevity.

The Five Tenets of FOCUS

One last look to help you avoid pain and raise your probability of success.

Feeling Alone?

Small business owners often claim to feel very much alone. Since 70% of small businesses have no employees, it can get lonely. But you are not alone.

Endings

An encouraging message about your long-term success.

References

About the Author

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Why You Should Read This Book

Small business owners:

Does your company need a TIMEOUT?

This could be the most important and healthy decision you ever make for your business. Timeouts are usually associated with the need for a break—a pause or a stop to rethink what is going on and to view your business from a new vantage point. The purpose of this book is to help you gain that fresh perspective.

Owning your own small business can be one of life’s greatest privileges and unrelenting challenges. I am thankful for having had the opportunity to own two different businesses over the course of thirty-five years. The first fifteen years I piloted a retail company, business-to-consumer, and the last twenty years were spent in the commercial office furniture industry as a dealer, business-to-business. If you and your business are on a profitable path that enjoys good growth, I am delighted for you. However, if you are discouraged or exhausted and can’t figure out what the next steps should be, then this book is for you. Timeout will help ensure that you won’t miss some of the important things, like promoting your business well, making sure you are in the right niche, and structuring your company for growth. It is my hope that this book will change the way you think about your business and make it more enjoyable and successful.

I have read dozens of business books, most of which seem intended for large business. This book is written by and intended for a small business owner. While I use a number of large and successful companies as examples, you’ll see how these examples can apply to your small business.

"A simple man believes anything,

but a prudent man gives thought to his steps."

Proverbs 14:15 1

My purpose for writing this book is to encourage you as owners and managers. Having spent thirty-five years owning my own businesses, I know how challenging and lonely this can be. But I also know that the choice to own a business is rewarding and wonderful.

I bought the first business in my early twenties. Back in the day, when there were no big box stores, major appliances were distributed by small companies like the one my father had started about a decade earlier. Dad passed away unexpectedly and left me with the daunting responsibility of trying to fill his shoes. Four retail locations, a warehouse full of rather stale inventory, and about a dozen employees suddenly looked to me for leadership. They were kind and patient as I tried to learn as fast as I could. It turned out that Dad was exceptional at starting a business, but he had grown the expenses beyond the income. When my bookkeeper and I finally analyzed the reality, we found there was only one thing missing: a profit.

Many changes were required to make Dad’s business more viable. To start with, I closed two stores and the warehouse. Then I moved the primary remaining store to a new location that was better suited for retail and included a small area that could be used as a warehouse. Small