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Some other reviewers have mentioned his tendency to brag or mention his previous successes. I don't mind it so much. I would rather read a book from a very well accomplished business owner, than someone who has not built up many profitable businesses. Th
I really enjoyed this book. It took me about two weeks to read it, but that was with several breaks and going through a chapter or two at a time. It is easy to ready, chunks the information together, and blends storytelling with practical advice.Some other reviewers have mentioned his tendency to brag or mention his previous successes. I don't mind it so much. I would rather read a book from a very well accomplished business owner, than someone who has not built up many profitable businesses. Think of it as the author's way to show credibility. When you look at many of the successful companies today, you'll find that many of them are all following the path that Masterson lays out in this book. It is very eye opening.
The best thing about this book is how Masterson breaks it down and details the pieces that form a well-run and profitable company. He describes it as more of a science than an art. There is practical advice everywhere, and I appreciate his honesty. He explains how to run a business without tricking or scamming customers, which I appreciate very much. There are a lot of people out there who go into business for money, and not their customers. It is refreshing to know that scams, tricks, and high-pressure sales are not required to be successful.
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In `Ready, Fire, Aim' Michael Masterson takes the reader through a structured approach of building a profitable business. The book primarily focuses on the cornerstones of business including sales, marketing and client relationships. Masterson pursues the same highly informed style that he has taken with his previous books. The insights he offers here are worth pursuing for any businessperson looking to jumpstart thei
I would recommend this great read to anyone looking to grow his or her businessIn `Ready, Fire, Aim' Michael Masterson takes the reader through a structured approach of building a profitable business. The book primarily focuses on the cornerstones of business including sales, marketing and client relationships. Masterson pursues the same highly informed style that he has taken with his previous books. The insights he offers here are worth pursuing for any businessperson looking to jumpstart their business and enjoy profitability quickly without being put down by the inevitable challenges.
I enjoyed reading this book even though I thought it would focus more on starting a business from scratch. I applaud the fact that Masterson does not gloss over the importance of a marketing plan and investing in client relationships to build a profitable business. He offers concrete examples and rationale needed for success without being too condescending. I also like that he was frank about the challenges that businesses face at different stages.
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Book is kinda long but don't hesitate to start it. Atleast starting to read a book is easier than to start a business from scratch. Do read! Thanks!!
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The two biggest ideas in the book are the importance of action (thus, the book title) and that going from zero to $100 million
Ready, Fire, Aim is the result of a retreat serial entrepreneur Michael Masterson led for other entrepreneurs. He wanted to impart the lessons he had learned from a 30-year career starting and running several multi-million-dollar businesses. The subtitle states his objective for the book, teaching the reader to take a business from "Zero to $100 Million in No Time Flat."The two biggest ideas in the book are the importance of action (thus, the book title) and that going from zero to $100 million encompasses four distinct stages in the life of a company. Having read the Five Second Rule, 10X, and many other books, I knew the first point well. It's the second that I will focus on.
According to Masterson, each of the four stages of a business has different problems, challenges, and opportunities and requires different skills from the entrepreneur running the company. The stages are:
1. Infancy ($0-1 million in revenue)
2. Childhood ($1-10 million)
3. Adolescence ($10 million to $50 million)
4. Adulthood ($50 million to $100 million and beyond)
The stage that was the most interesting to me (because it faces many of the challenges my company, FiveFour, solves for business leaders at this level) is adolescence. Once a company grows to or near $10 million, the growth almost always comes with a new set of challenges.
At this size, there is at least one or two levels of management between the founder/CEO and the front-line workers who engage with the company's customers. Those employees do not have the benefit that existed in the first two phases of business growth - proximity to the founder/CEO. Companies that reach $10 million in revenue usually do so because the founder/CEO built a culture around taking care of the customer. With multiple levels of management, they no longer talk directly to every employee and are unable to directly impart their culture and expectations of how the customer should be cared for.
The way this usually shows up in a company is through disgruntled customers. Masterson writes: "The most important disconnect has to do with the priority you had established to make sure every customer would be handled with the utmost of care and consideration." The business is in need of a transformation. A transformation from focusing almost exclusively on customer acquisition to one that now focuses equally on customer retention. Masterson calls it customer service, but were he writing today rather than the mid-2000's, he would likely recognize that the customer experience is even more important.
The leader accomplishes this transformation by a focus on operations and training, communicating the vision, joint ventures and hiring stars and superstars. He's dead-on with that list, but a few of his methods are decidedly lacking. For example, to communicate the vision he advocates writing a monthly memo. To solve this communication gap that he has so accurately identified takes much more than a written letter once a month.
And it's behind that small defect that my larger problem with the book arises. Those memos worked for him and a client of his. That's 98% of what you get in this book: his personal experience as an entrepreneur. Masterson has no time for theory. The only time I can remember him quoting an organizational theorist was to disagree with him.
That's not a debilitating problem and it doesn't erase the good that comes from the book. After all, Masterson wrote it to impart what he learned from his entrepreneurial journey. But it is a limitation that the reader should be aware of. This book is just one source - a good one, but just one - and will need to be supplemented with other resources especially the further we get from the day it was written.
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Ready fire aim
Top priority selling selling selling selling selling stage 1
Unique value proposition
Takes different skills to grow business to different levels up to 100 Million
Primary objective is not getting rich or getting employees rich. Don't set revenue and profit targets initially. Building an exciting, thriving, fast growing business, that will enrich their lives.
Making or selling great products
Customer oriented business long run more profitable
Ready fire aim
Top priority selling selling selling selling selling stage 1
Unique value proposition
Takes different skills to grow business to different levels up to 100 Million
Primary objective is not getting rich or getting employees rich. Don't set revenue and profit targets initially. Building an exciting, thriving, fast growing business, that will enrich their lives.
Making or selling great products
Customer oriented business long run more profitable and easier to run
Oss optimal selling strategy copy competition in beginning
80% of time sales & marketing
Learn everything possible about sales & marketing
Optimum marketing list where can lower price and have exponential results
Innovate to right of product
Creativity in groups of 3-8 people preferred 6
Write down creative ideas for creative group meetings
Creative session 1-3 hrs max
Set goals and be specific
number of ideas 5 so one would work
Type of ideas - the hot area of Market
1. Specific suggestions only
2. No specific criticism do you like it or not no why
3. Credit all ideas how can we make it better
4. Encourage meek cut windbags short
Levels
0-1 million mental pushing to sell more, how to sell more, where to find new customers
1million -5 million get everyone involved in innovation, putting out new products
1st product will be replaced natural
Teach front end and back end marketing each necessary for future growth
6-12 months change how business works in fundamental way
tolerate change new problems daily
Must embrace change to grow with the business
Brainstorming sessions tape recorded
Copywriter ad in 24hrs
Short business plan 1-4 pages
Experience for projects
When eliminating ingredients compare to original version not just copies
Singer film nyc tunnel
50 million company 3 figures max 6 direct reports
Corporate types better for larger company
Corporate types better at solving problems than increasing revenue
"When it comes to new, the human brain can take only a little bit of it. 80% of the old and 20% of the new is a good ratio."
"This willingness to buy non-tipping point products is what we call 'goodwill.'"
"Brainstorming is like professional basketball -- nothing really important happens until the last 5 minutes."
"Ready, fire, aim means what it says. When you have an idea that has the potential to grow your business, test it as soon as it is ready; don't fiddle with it trying to get it perfect; yo
"When it comes to new, the human brain can take only a little bit of it. 80% of the old and 20% of the new is a good ratio."
"This willingness to buy non-tipping point products is what we call 'goodwill.'"
"Brainstorming is like professional basketball -- nothing really important happens until the last 5 minutes."
"Ready, fire, aim means what it says. When you have an idea that has the potential to grow your business, test it as soon as it is ready; don't fiddle with it trying to get it perfect; you can make adjustments later after you know the idea is working."
"The most obvious example of bottlenecking is in the legal compliance area."
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Rather it may be better for someone who is already at a annual revenue rate of at least $1 million, and trying to scale beyond. A business mentor of mine, who is currently at around a $3 million run rate, claims that he's gaining soo much clarity from this book, which makes sense. Getting from $1 million to $10 million is what takes up the grea
Very, very good insight and info. Sometimes I feel like it could get a little bit too much, and this may not the best book for someone just starting out.Rather it may be better for someone who is already at a annual revenue rate of at least $1 million, and trying to scale beyond. A business mentor of mine, who is currently at around a $3 million run rate, claims that he's gaining soo much clarity from this book, which makes sense. Getting from $1 million to $10 million is what takes up the greatest chunk of the book.
I still can't say that this wasn't a necessary read though, even if I'm not at a 7 figure run rate. But you bet I'll be rereading it when I get there.
...more Discusses 4 stages of a companies development and provides feedback and advice for each stage
Youth - Up to $1M max 7 employees
Adolescence - $1M to $10M max 49 Employees
Adult - $10M to $50M - Need Corporate Structure here
Maturity - $50M plus. - Founder needs to shift into advisor roles.
Apart from that, there were a myriad of different topics that were discussed and brought the creation of a business from zero to hero with many examples to illustrate.
Informative, at least.
If you want to accomplish more in life but aren't sure where to begin, it provides an accessible starting point for learning the art of turning dreams into realities.
Does have some good points. Might read again once business gets bigger
I was pleasantly surprised with Ready, Fire, Aim. It's a well written book with a strong focus on sales. Mr. Masterson spends the majority of the first section of the book expounding on the virtues of selling
I originally found this book as an audio book on Overdrive. I like to try new business authors as library audio books whenever possible. Many business books are badly written, uninformative, or both and I, as a dyslexic, need to consider what I read before I put the time and energy into it.I was pleasantly surprised with Ready, Fire, Aim. It's a well written book with a strong focus on sales. Mr. Masterson spends the majority of the first section of the book expounding on the virtues of selling as a way to make a start up business grow. When I say "selling" here, I mean "selling" as an active verb: The art and science of getting people to buy your product.
Mr. Masterson tells the reader to focus the majority of their time, energy, and money on selling their product. He recommends keeping the costs low. Don't worry about an office, vehicle, website, custom stationary, furniture, etc, just figure out the cheapest possible way to sell your new product and then do it....NOW!! And that pretty much sums up the entire first section.
Later on in the book, he gets into the nitty gritty of how to build a business. Customer relations, product development, human resources issues, marketing strategies, and much more. This book isn't an exhaustive treaties on the subject of business management, but it adds something to the study of the subject that many other business books and classes don't. The author gives authoritative advice from a seasoned business builder with a strong emphasis on SALES. After all, when it comes right down to it. if you're not selling something, you're not in business.
As I said, I originally got this as an audio book from the library. There was so much valuable information in it that I decided to purchase the ebook and study the subject more deeply. Unfortunately (and weirdly), it's not available as an ebook. I do 99% of my reading on my Kindle Paperwhite. In fact it's rare for me to buy or read a physical book any more. In this case though. I'll make an exception. I ordered a used copy on Amazon and look forward to it arriving next week.
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Some other reviewers have mentioned his tendency to brag or mention his previous successes. I don't mind it so much. I would rather read a book from a very well accomplished business owner, than someone who has not built up many profitable businesses. Th
I really enjoyed this book. It took me about two weeks to read it, but that was with several breaks and going through a chapter or two at a time. It is easy to ready, chunks the information together, and blends storytelling with practical advice.Some other reviewers have mentioned his tendency to brag or mention his previous successes. I don't mind it so much. I would rather read a book from a very well accomplished business owner, than someone who has not built up many profitable businesses. Think of it as the author's way to show credibility. When you look at many of the successful companies today, you'll find that many of them are all following the path that Masterson lays out in this book. It is very eye opening.
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In addition to the 4 stages of a business (with useful advice like, "you should be laser-focused on selling" in stage 1, or "to keep growing in stage 2, you'll need to transform from a single product company into multiple product lines). Altho
Some useful nuggets in here... but it takes a while to wade through the fluff and self-aggrandization. Wish I would've taken more/better notes. At a high-level, this could be summarized in a page or two. (Let me know if you find good notes for this book. :)In addition to the 4 stages of a business (with useful advice like, "you should be laser-focused on selling" in stage 1, or "to keep growing in stage 2, you'll need to transform from a single product company into multiple product lines). Although most of Masterson's experiences are described in the well-established (and, lets face it, boring) industry of newsletter publishing, the concept of front-end and back-end sales was a solid takeaway.
EDIT: Found some notes: http://www.lovebusinessbooks.com/2009...
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Source: https://www.goodreads.com/book/show/2490652.Ready_Fire_Aim
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