Based on the recommendation of a fellow coach – and also its intriguing title – I recently read The Toilet Paper Entrepreneur. (I promise I’ll try to keep the TP jokes to a minimum. But I’m only human!)
This isn’t a book about the millions to be made in the personal hygiene market. The Toilet Paper Entrepreneur is actually a guide full of practical business-building advice from author Mike Michalowicz – a guy who has been there/done that.
How does toilet paper relate to entrepreneurship? It’s simple. Like when you have to take care of business and find that there are only three tattered sheets of toilet paper left on the roll. It’s all about making the most of limited resources! You get super creative and figure out how to get the job done using what you have to work with. Think “What would MacGyver do?”
The book is written in a conversational style, and it’s funny and engaging. And as you might imagine from the title, the author can get a little carried away into TMI-Land with the potty metaphors. But if you don’t mind the bathroom humor (or at least you can tolerate it in order to get to the good stuff), you’ll find it a fast and easy read, full of tips for success and nuggets of valuable information, especially if you’re just starting out on your entrepreneurial journey.
The book is really aimed at novices and delivers that much-needed kick in the butt needed to get rid of your “limiting beliefs” that convince you that you’re not ready. For budding entrepreneurs, TPE offers advice to help you clear the blocks holding you back. However, more seasoned business owners can also benefit from the lessons about hard work and resourcefulness, with strategies that are practical, commonsense, and easy to implement.
One by one, Mike shoots down your excuses and negative self-talk – I’m too old/too young/too broke/not good enough – and offers great advice on creating a business around your passions as well as a step-by-step guide on how to get started.
The highlights of the book for me were:
- The importance of dumping limiting beliefs and creating enabling beliefs.
- Creating your mission statement – your “Immutable Laws,” the core values that define you and embody your “Why.”
- The three documents you need to successfully launch, manage, and grow your business – without a traditional business plan.
- How to bootstrap your business when resources are scarce.
- Guerilla strategies for managing cash flow and raising capital.
- The “Profit First Account” – a reserve that makes sure you get paid and serves as a rainy day fund.
I’ve added the author’s other books to my reading list, including
The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field,
Profit First: A Simple System to Transform Any Business from a Cash-Eating Monster to a Money-Making Machine.
If you’ve already read them, what did you think? I’d love to hear your impressions. Because that’s just how I roll…