Nothing To Lose, Everything To Gain: How I Went From Gang Member To Multimillionaire Entrepreneur by Ryan Blair (Author) and Don Yaeger (Contributor) is a rare book which explains the nitty gritty details of building and running a successful business. The author explains success modeling rules that work. For instance, managers should always test assumptions and be certain that they know the customer thoroughly. A corollary is to get close to the customer and be careful in selecting new markets for your products.
There are certain “Golden Rules” for running a business according to the author. Here are a few of them:
Don’t be afraid of saying that you don’t know something.
Always praise people in public while reprimanding them in private.
Probe why you failed.
Understand that life itself tends be be theatrical so don’t take it too seriously.
Ryan explains that there are many things you should not do when running a successful business. For instance, don’t overinflate forecasts because unrealistic expectations could be very problematic. Another rule is to stay away from hiring people who agree with everything you do because every manager needs an independent verification on the wisdom of proceeding at critical junctures.
Successful managers don’t dwell on what others think. A related error is to focus too much on the competition at the expense of satisfying what your customers need and want. Above all, successful managers rarely attempt to do too much simultaneously because important details can be overlooked or discarded without enough rational analysis or consideration.
Nothing To Lose, Everything To Gain is packed with invaluable advice on just about every critical decision in the process of managing people and customers. The advice in this book is pivital for running every aspect of a successful business.