Ready, Fire, Aim By: Michael Masterson
Ready, Fire, Aim was incredibly refreshing and provides an honest perspective on what it takes to start and maintain a business. The author really helped me think about my future business growth, and how to navigate through multiple stages of business. It is something you can only understand by experiencing it firsthand.
His frequent reminder that all business owners should become sales experts stuck with me; it doesn’t matter if we are only managing from a distance or getting our hands dirty by selling products ourselves (which is what he recommends for entrepreneurs just starting out).
This book is essential for anyone just starting out in business. It will reinforce the importance of understanding what makes people buy from you, getting that first sale before making any large investments (like renting an office or buying a computer,) and working hard.
Masterson explains that each stage of owning a Business has different obstacles, possibilities, and skills needed from the entrepreneur. The stages are:
- Infancy ($0-1 million in revenue)
- Childhood ($1-10 million)
- Adolescence ($10 million to $50 million)
- Adulthood ($50 million to $100 million and beyond)
The stage that was the most interesting to me is Infancy. A company can grow to or near $1 million, the growth almost always comes with a new set of challenges. It is a stage where the entrepreneur must become perficient in everything from marketing, sales, customer service, and finance.
Overall I would highly recommend this book to anyone starting out or considering starting their own business. It offers invaluable insight into each stage of the Business growth process and provides practical advice for entrepreneurs no matter what stage they are in.
The author provides readers with useful advice on how to get started with a new business and what early priorities should be. The main point is that selling your first product is the most important thing, not letterhead or office space, or LLC paperwork.