New York Times columnist Paul P. Brown says Felix Dennis, publisher of Maxim, The Week, Stuff and Computer Shopper magazines, among others, is pretty candid in his book â€œHow to Get Richâ€ about the mistakes he made building his business.
That’s why Brown, who today reviewed several books aimed at small business owners and entrepreneurs, finds Dennis’ advice fairly credible, including these gems:
- Never be overoptimistic when it comes to day-to-day finances. â€œIf cash flow is good, then no matter how badly run or poorly managed a company is, there is always a decent chance of turning it around,â€ Dennis says. â€œBut if a businessâ€™s cash flow is weak or failing, then the chances are it must shut down or be sold in the not-too distant future.â€
- Never act big. You, and your company, should live below your means.
- Never skimp on hiring talent.
Check out Brown’s columns for more small-business tool kits.