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Top 5 Must Read Books For Business Owners

Posted on by Mike Stromsoe

When it comes to business owners, reading the latest business books is important to keep our companies in top shape. My top business books include the following:

  1. The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen Covey. Creating positive change and embrassing new ideas is important to keep ourselves and our companies moving forward.
  2. Good to Great: Why Some Companies Make the Leap…and Others Don’t by Jim Collins. A study of fortune five hundred companies and how they made it big can help us analyze our own businesses.
  3. Decisive: How to Make Better Choices in Life and Work by Chip and Dan Heath. Share information on how to make better decisions.
  4. Whiteboard Selling: Empowering Sales through Visuals by Corey Summers and David Jenkins. Using PowerPoint to sell is becoming a thing of the past. Instead, use these tips to create a more powerful connection.
  5. Cultureship: The ACBs of Business Leadership by Jason Binghan. Strategically creating business culture to develop the bottom line.

For more business ideas or to turn your business into profit, contact me at Mike Stromsoe’s Unstoppable Profit Producer Program.

The Pareto Principle: How to Apply It and What to Avoid

Posted on by Mike Stromsoe

The Pareto Principle, named after economist Vilfredo Pareto, states that 20 percent of invested input gets 80 percent of the results. In a perfect world, inputs and outputs would be balanced. What you put in and what you get out would be equivalent–or, if we could really get lucky, business owners would put a little in and get a lot out. You’d see a regular rate of return on all your efforts at work… but that’s not how it really goes.

Recognizing the 20 Percent–Put a Little In, Get a Lot Out

In the real world, the work of 20 percent of a corporation’s staff often results in about 80 percent of the company’s profit. 20 percent of your marketing efforts accounts for 80 percent of your conversions. Pareto himself used the rule to explain how 80 percent of Italian property was owned by 20 percent of Italy’s population.

The good news is, that shouldn’t be a discouraging statistic. Recognizing what works best is just good business management. Mike Stromsoe’s Unstoppable Profit Producer Program helps you recognize and maximize the impact of that supercharged 20 percent.

How Time Management can Be Your Biggest Ally

Posted on by Mike Stromsoe

For many business owners, time seems to be the one thing that you consistently run out of. There never seems to be enough. Between managing employees, garnering new business, seeking out investors, looking over the books and wearing so many other hats, you could feel as if you don’t even have a few minutes to sit down and recharge. This is where time management comes in.

You may be thinking you don’t even have time to manage your time, but you’re wrong. Understanding time management and how it could help you may be your saving grace and eventually increase your bottom line. Once you sit down and really scrutinize how you spend your time, it’s amazing to see how your time could be streamlined. In some instances, time is wasted doing things that could be delegated to someone else, or on processes that don’t even need to occur. When owning a business, especially in a brand new business, it’s easy to want to do everything, but you can’t. Take the time to assess and rethink.

For more information on better time management, take a look at Mike Stromsoe’s Unstoppable Profit Producer Program.

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