The Benevolent Dictator - Empower Your Employees, Build Your Business, and Outwit the Competition

PRAISE FOR THE BENEVOLENT DICTATOR "Michael stands out as one of those rare entrepreneurs who started with a blank piece of paper and built a national brand in a crowded field. His book chronicles the seldom discussed aspects of the how-tos of doing it and doing it big, fast." -CHRISTOPHER CONNOR, Chairman and CEO, Sherwin-Williams Company "In this book, Michael reveals step-by-step how an entrepreneur can navigate the twists and turns of building an enterprise. Expect the unexpected in this narrative, which provides 'the best of the best' reading on how he did it, and how his experiences can help the reader do it, too." -MORRY WEISS, Chairman, American Greetings Corp. "Sitting through business lectures can be boring at times. Reading The Benevolent Dictator is anything but with its fast-paced prose, punctuated with dry humor. This book uncorks the unique methods that the author used to create huge success by empowering his team and outwitting the competition. Read this book once and it's guaranteed you'll refer to it time and time again." -FELIX ZULAUF, twenty-year member of the Barron's Roundtable, The Dow Jones Business and Financial Weekly "Using his unorthodox teaching style, Michael keeps my high-potential students on the edge of their seats. He guides readers, too, down the path to accelerated success. His secret is a preoccupation with achieving results; his gift is teaching others how to do it." -RICHARD L. OSBORNE, Theodore M. Alfred Professor of Management, Weatherhead School of Management, Case Western Reserve University "Michael Feuer isn't only 'benevolent, ' he's also quick, insightful, experienced, and engaging. His lessons and manner of communicating have produced profound benefits to all who serve with him as he advises our board and leadership team. And that's exactly what readers will find when they learn from this vital, no-nonsense, no-holds-barred book."-ALLEN WEISS, MD, MBA, President and CEO, NCH Healthcare System "The difference between Michael and many other successful CEOs is that he can explain how to replicate his success with his entertaining, yet insightful, and finely honed words. His book accentuates the obvious and unlocks the obscure to help put readers on their own fast track." -JACQUELINE WOODS, Chair, Kent State University; retired president, AT&T Ohio

List of contents

Author's Note xi
Phase One Start-Up 1
1. Lesson #1: To Successfully Launch a Start-Up, There Must Be a Benevolent Dictator 3
2. Lesson #2: The Best Ideas Can Come from What's Right in Front of Your Nose 11
3. Lesson #3: How to Find the Money to Make Big Money 18
4. Lesson #4: Once an Entrepreneur, Always an Entrepreneur 22
5. Lesson #5: It's Better to Be Lucky Than Just Good 25
6. Lesson #6: "GOYA"--The Only Way to Really Test an Idea 29
7. Lesson #7: Don't Underestimate the Power of Focus, Discipline, and Follow-Up 35
8. Lesson #8: Competition Stinks 39
Phase Two Build Out and Put the Idea to the Test 43
9. Lesson #9: Business Is a Series of "Go" and "No-Go" Decisions 45
10. Lesson #10: Treat an Idea Like Clay 53
11. Lesson #11: Always Be Prepared with Plan B . . . And Sometimes C and D 59
12. Lesson #12: You'll Never Reach Critical Goals without a Definitive Timetable 66
13. Lesson #13: Never Be as Weak as Your Weakest Link 70
14. Lesson #14: Raising Additional Capital Requires Creating Demand 74
15. Lesson #15: Everything You Wanted to Know about the "D" Word but Were Afraid to Ask 82
16. Lesson #16: Managing People Is about Achieving Objectives through Others 87
17. Lesson #17: Good Intentions Will Get You Only So Far 95
18. Lesson #18: Don't Open the Doors until the Start-Up Passes the Smell Test--And Don't Be Afraid to Call Time-Out Just to Be Sure 101
Phase Three Constant Reinvention 107
19. Lesson #19: Pot Stirring 101--The Key to Continuous Reinvention 109
20. Lesson #20: Is Perception Reality? How to Manage Risk, Take Chances, and Remain Standing 115
21. Lesson #21: How to Keep Lethargy at Bay . . . Or Why Time Is Your Most Precious Resource 122
22. Lesson #22: How to Avoid Analysis Paralysis by Learning When to Make "Battlefield" Decisions 128
23. Lesson #23: Don't Drink Your Own Bathwater--You Could Choke 135
24. Lesson #24: When the Wolf's at the Door, What You Do Can Make the Difference between Living to Fight Another Day and Going Down for the Count 140
25. Lesson #25: Using the "Mother Rule" Can Help You Avoid Costly Hiring Mistakes 148
26. Lesson #26: When Communicating, Cut to the Chase 153
27. Lesson #27: Survival Math--Business Is Not a Zero-Sum Game 160
28. Lesson #28: Manage by the Three Ps--Persistence, Perspiration, and Performance 165
29. Lesson #29: You Can't Live with "Em--How to Manage Prima Donnas, Employees Who Think It's Not Their Job," and the Perfectionists 170
30. Lesson #30: The Golden Rule of Trust and Respect: You've Got to Give to Get 175
31. Lesson #31: Why You Must Look at Business through the Customer's Eyes, Not Just from an Operator's Perspective 182
32. Lesson #32: When It's Time to Pull the Trigger and Fire a Customer or a Vendor 188
33. Lesson #33: Spurring Growth--How to Eat an Elephant One Bite at a Time 194
34. Lesson #34: If You Don't Like the Competition . . . Buy Them If You Can 199
35. Lesson #35: The Easiest Path to Hypergrowth Is with Other People's Money 204
36. Lesson #36: Beating the Competition Requires That You Know More about Their Vulnerabilities Than They Know about Themselves . . . And Knowing Yourself Better Than They Know You 210
37. Lesson #37: If You Negotiate with Yourself, You Have a Fool for an Opponent 217
Phase Four The Payday 223
38. Lesson #38: Payday . . . And Lessons from the IPO Road Show 225
39. Lesson #39: If the Flame Starts Flickering: How to Tell If the Fat Lady Is About to Sing 234
40. Lesson #40: How to Put Lightning Back in the Bottle Again and Again--Many Entrepreneurs Are Serial Entrepreneurs 242
Epilogue 253
Index 255

About the author

Michael Feuer cofounded OfficeMax in 1988 starting with one store and $20,000 of his own money, a partner, and a small group of investors. As CEO, he grew it to more than one thousand stores worldwide with annual sales topping $5 billion. He is also CEO of Max-Ventures, a venture capital and retail consulting firm, and cofounder and CEO of Max-Wellness, a comprehensive health and wellness retail chain that launched in 2010. After opening initial laboratory test stores in Florida and Ohio, a national roll-out is now underway.
Dustin S. Klein is the Publisher and Executive Editor of Smart Business Network, publishers of Smart Business, the nation's second-largest chain of regional business publications. He has interviewed thousands of senior executives and civic leaders across America. He is a regular presenter on business-related issues for public and private business audiences and is a frequent guest on television, radio, and Internet programs.

Product details

• Authors: Feuer, Michael Feuer, Michael J. Feuer, Feuer Michael
• Publisher: Wiley
• Languages: English
• Product format: Paperback / Softback
• Released: 16.05.2011
• EAN: 9781119089742
• ISBN: 978-1-119-08974-2
• No. of pages: 288
• Dimensions: 152 mm x 229 mm x 15 mm
• Weight: 390 g
• Subjects: Guides > Law, job, finance; Social sciences, law, business > Business > Management; BUSINESS & ECONOMICS / Entrepreneurship, Entrepreneurship, BUSINESS & ECONOMICS / Management, Management & management techniques, Management and management techniques, Entrepreneurship / Start-ups