Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    The FIT Rule
    The FIT Rule
    The FIT Rule
    Ebook116 pages1 hour

    The FIT Rule

    By David Steven Roberts

    ()

    Read preview

    About this ebook

    The FIT Rule is a book written from author David Roberts' close to twenty years experience in helping small business owners with their small business needs. In it, he examines the three principles that make a business successful, these three principles he has named The FIT Rule. 

    FINANCE - There is more to just having money available to start a business and more to keeping track of revenues and expenses. It is the very life-blood of a business and yet the most neglected of the three principles. 

    INDUSTRY- What makes some businesses successful and others fail is not a secret. It is a matter of understanding their Industry is what a small business does whether is it a product or service based business. 

    TELL-A-MARKETING - For some reason, there are still those new business owners who think that if they just advertise in enough locations and media that they will get customers. That just is not true. Marketing does not have to be expensive, it doesn't have to be comprehensive, it does have to be targeted to the right people. 

    David Roberts begins the book at the idea of starting the business, when it is absolutely essential to get all three principles working together from day one. He continues for more established businesses implementing the FIT Rule where they are at. Finally, he looks at a business' later years from the perspective of using the principles to help a business grow horizontally, vertically and exponentially.

    LanguageEnglish
    PublisherGACCM PUBLISHERS
    Release dateApr 3, 2016
    ISBN9781524241827
    The FIT Rule
    Author

    David Steven Roberts

    David Steven Roberts is a graduate of Florida Christian College and former minister of Community Christian Church in Coralville Iowa and Gays Christian Church in Gays, Illinois. He has since left the ministry and spends his time writing.

    Read more from David Steven Roberts

    Related to The FIT Rule

    Related ebooks

    Marketing For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Fuel Spark Success

      Jun 5, 2020

      Fuel Spark Success
      8 min read

    • Article

      6 Fantastic Business Ideas for Moms

      Dec 24, 2020

      Rather than work a 9-5 job every day, what if you could be your own boss and make your own schedule? That's where business ideas for moms play a major role. Starting a work-at-home endeavor is a rising trend that is only going to become more prevalen

      6 min read

    • Article

      Warning: Your Business Is Not a Retirement Fund!

      Dec 11, 2021

      I often receive inquiries from business owners seeking to increase their company’s profitability, margin, etc. Many of them view the business as their retirement plan. Although it’s an asset you could use to fund your retirement, I believe focusing o

      5 min read

    • Article

      Magnus’ Marketing Minute

      Jul 1, 2023

      Michael Magnus is an advertising professional who supports the growth of the leather industry through his marketing agency, Magnus Opus. Among his client partnerships are Silver Creek Leather Co., manufacturers of Realeather® Crafts and Lace, and Jim

      5 min read

    • Article

      Failing? You Should Be So Lucky

      Dec 7, 2021

      Big Ass Fans founder Carey Smith led the fan and light maker from $0 to its $500 million sale. He started working at age 9 and has never stopped. His “secret” to success is common sense, and he’s happy to share it. His firm, Unorthodox Ventures, focu

      5 min read

    • Article

      Get Lender Ready Now

      Sep 28, 2020

      Get Lender Ready Now
      4 min read

    • Article

      Biz Start-Up Guide: Step 2 Pick Your Business Determining What Business to Start from Home

      Jun 25, 2022

      Order at https://homebusinessmag.com/home-based-business-guide/ So, you want to go into business and you know you want to do this from your home. You may have a great idea and want to run with it. Or you need help in finding the right type of busines

      13 min read

    • Article

      The First 90 Days

      Feb 1, 2018

      The First 90 Days
      14 min read

    • Article

      Keep That Coin

      Jun 24, 2021

      Keep That Coin
      3 min read

    • Article

      Be Your Own Boss

      Jul 10, 2020

      Be Your Own Boss
      4 min read

    • Article

      Entrepreneurs Pay Too Much in Taxes Because They Don't Do This

      Mar 29, 2019

      As we head deeper into tax season, we're starting to hear from more and more Americans experiencing sticker shock as they file their returns. Gone is the comforting and often sizable refund check they've come to expect every year. Instead, they're fi

      2 min read

    • Article

      How to Leave Your Business: A 5-Year Plan

      Feb 13, 2019

      Ask any former business owner whether it was harder to start their business or leave it, and you'll likely be surprised by the answer. Sure, starting a business is extremely challenging, with any number of variables and unexpected obstacles that cou

      3 min read

    • Article

      Help! I Can’t Afford to Sell My Business

      Aug 28, 2020

      The process of selling a business involves fine-tuning every piece of its financials before marketing it and seeking a buyer. But even if everything seems in order, it may not be the right time to sell. Perhaps something — or rather, someone — isn’t

      1 min read

    • Article

      Six Deadly Start-up Sins

      Sep 23, 2022

      Six Deadly Start-up Sins
      2 min read

    • Article

      Grow Your Startup

      May 26, 2022

      Grow Your Startup
      6 min read

    • Article

      Success During and After COVID-19

      Sep 28, 2020

      Success During and After COVID-19
      9 min read

    • Article

      How to Start a Business with Zero Dollars: CEO Donnie P Knows

      Jun 25, 2022

      Entrepreneur Donnie P (www.donniepbooks.com) has over twenty years of experience taking ideas and turning them into a successful business ventures. He literally wrote the book on helping cash-strapped entrepreneurs start successful businesses with Ho

      3 min read

    • Article

      Fund a Home Business!

      Oct 18, 2019

      Fund a Home Business!
      9 min read

    • Article

      Entrepreneur’s Corner

      Jun 18, 2019

      How did you make the switch from employee to entrepreneur? I am an accountant with a background in the financial services industry. After completing my studies and articles, I worked for investment banks, both locally and abroad, for more than 10 yea

      2 min read

    • Article

      How a Startup Company Can Succeed

      Sep 29, 2022

      How a Startup Company Can Succeed
      2 min read

    Related categories

    Reviews for The FIT Rule

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      The FIT Rule - David Steven Roberts

      THE FIT RULE

      INTRODUCTION

      WHY DO BUSINESSES FAIL?

      There are plenty of reasons why businesses fail, but without the proper foundations, no business has a chance. The three principles outlined in this book are part of the everyday operations of any business, no matter what industry that business is in. Every action taken by the business fits into one of the three principles.

      These are basic fundamentals of running a business without which no business can survive. And it is likely that if your business is failing, it is because one of the three principles discussed in this little book is not being utilized correctly, if at all. There are some business ideas though that are doomed from the start. The socialist diner where customers were given the opportunity to pay whatever they believed the meal was worth is one example. Socialism and entrepreneurship do not mix.

      Sometimes it is a matter of technology and advances that make some businesses obsolete. For instance, travel agencies were used by many people two to three decades ago. But with the advent of internet-based travel services that make all the planning as simple as a few clicks here and there, that eliminates the need for the ‘middle man’ travel agent.

      Other times it is a matter of economy, there are too many of your type of business in your area or the area you are in is in a frantic economic free-fall. These reasons for business failure are rare, but it happens. In many cases, the business fails because of one of the following reasons:

      Not Enough Money – Believe it or not, there are on a yearly basis, thousands of businesses that end up closed even before they start. The number one reason for that is that they didn’t ‘count the costs’ so to speak. Expenses they didn’t anticipate or revenues they expected didn’t materialize end up putting the business in trouble before the grand opening. Realistically, a business needs 12 months of expenses paid to have a ghost of a chance to succeed. (At bare minimum, they need 3 – 6 months of expenses paid.) Opening a store front, as many former business owners can tell you, doesn’t guarantee customers. Some hopeful entrepreneurs even mortgage their home, their future and their children’s college funds to make a business succeed when there really is no chance of it doing so.

      Not Enough Real World Experience – As I have advised my clients and have said many times before, being the best cook doesn’t guarantee you will be a great restaurant owner. Being the greatest mechanic doesn’t mean your auto repair garage will make a profit. Without real world experience in running a business, you will need a team of advisors to help you attain those goals.

      One of the prime examples of this was the well-publicized case of the family whose home was rebuilt by the Extreme Home Makeover show. Their former home had been condemned and actually had sewage running through it. The family mortgaged their new ‘mansion’ home to start a construction business. $450,000 to start a new business would seem to be a great start! It wasn’t.

      You see, they had no experience in construction at all. They had no experience in business making decisions of any kind. The loan they got against the free house they received they obtained not even from a bank, because they had no real world experience with banks, but from a local check cashing store. They lost their newly renovated home and their business because of a stupid, reckless decision.

      Not Enough Common Sense – One of the major mistakes a new business owner makes is in wanting to ‘have’ items or services that they cannot afford. When I helped a former boss of mine open a tax preparation office, he wanted the comfy chairs, the beautiful mahogany desks, the newest computers, the best carpeting that money could buy, and he got it.

      For the six weeks the office was open, it was one of the best equipped, nicest looking offices I had ever seen. But the money would have been better spent on the basics, until he was turning a profit. You don’t need a wrapped Humvee vehicle to get attention in your local area. You don’t need thousands spent on marketing in unusual ways. First things first, then comes everything else.

      Not Enough Planning – Every new business takes planning. No one Falls into success. One man, Bill, believed it important to get a Christian radio station started in his home town. An admirable goal, to be sure. Unfortunately, he didn’t do any research. In his limited area, there were already four Christian radio stations. The market for yet another start up religious station was crowded. He was zealous, optimistic and all kinds of unrealistic in his efforts. And he lost a lot of money, time and effort.

      Too Much Debt – When opening a store that is a retail location, obviously there is little to pay vendors until you start making sales. So new business owners locate somewhat unfavorable credit terms with vendors in the hopes of ‘one day’ getting the vendors paid back. When it comes down to it, once there is a little bit of revenue coming in, there are always ‘other’ expenses that make it difficult to pay down the debts incurred.

      This book is an attempt to get you to slow down, to make the right decisions and those decisions may lead to your not having a business in the time period in which you expected it. I am not talking about giving up your dreams, I am talking about giving those dreams a better shot at success. As you progress through The Fit Rule understand that each of the three aspects of a successful business can be applied at the beginning of your business, after it is started and after a period of time that it has been established. The FIT Rule can be used for businesses struggling to survive, in fact, if applied on time and completely, the FIT Rule could be used to save a business from bankruptcy.

      THE FIT RULE

      Let’s face it. You went into business for yourself because you are GREAT at what you do. Or, you decided you could do it better than anyone else could and you took the plunge. It is never an easy decision, it is risky, it is scary and there is absolutely no safety net. You probably knew the statistics that roughly half of all new businesses fail within the first year, and roughly 75% of them within three years.

      Knowing the odds, why did you take that risk? Perhaps the economy has forced you into the under-employed lines of whatever work you can find. Maybe you just feel that as smart and as talented as you are, that yours will be a different result than all the others who failed and you will succeed. Whatever the reason for that decision is, congratulations, you’ve taken that first risky step.

      If this is your first time starting a new business, there is a lot to learn. You will go through periods of little to no revenue. You will be faced with decisions that as an employee, you never had to make. Mistakes will be made, money will be lost, you will need help. Unfortunately, many business owners look for help only after they are

      Enjoying the preview?
      Page 1 of 1