Summary

How do you run a business that not only brings in the money, but provides satisfaction and personal growth as well? Nobody can answer that question better than Ralph Warner, who co-founded Nolo in 1971.

With How to Run a Thriving Business, you'll discover the business philosophy and nuts-and-bolts advice that have let Warner thrive during three decades at the helm of a small business that began in the corner of a bedroom and now employs 100 people.

How to Run a Thriving Business breaks it all down with 17 ideas, including:

• don't work long hours
• choose a business you care about
• embrace your best competitors
• get and keep a competitive edge
• innovate now and forever
• market your business creatively
• target your customers
• react quickly to bad news

How to Run a Thriving Business is the perfect read for anyone who's interested in starting a new venture, and for those who could use an infusion of practical advice to get back on track with an existing business.

Press Reviews

Table of Contents

Introduction

1. Build a Meaningful Business

How a Tiny Business Took on the Texas Legal Establishment
How to Make Your Business Meaningful

2. Choose a Business You Care About

Plan for the Long Haul
How to Stay Interested in Your Business
Fire Yourself/Hire Yourself

3. Understand How You Make a Profit

Never Be Vague About Money
Getting a Quick Plan on Paper

4. Start on a Shoestring

Why Small Is Better
Spending Money Wisely

5. Get and Keep a Competitive Edge

Convincing Customers That You're Special: An Overview
What Makes Your Business Special?
Keeping Ahead of the Competition

6. Innovate Now and Forever

Invention
Copying
Serendipity
A Case Study in How Good Ideas Surface
Making Innovation a Continuous Process

7. Target Your Customers

Be Specific
Go After Both Novice and Experienced Customers
Don't Forget Your Current Customers

8. Market Your Business Creatively

What Advertising Can-and Can't-Do
Other Downsides of Advertising
Marketing to Your Target Audience

9. Hire and Keep Good People

Don't Hire Casually
Don't Hire Problem Employees
How to Hire Top People
Keeping the Great People You Hire

10. Drive a Modest Car

Drive a Modest Car
Lead, Don't Dominate
Credit Is Cheap-Spread It Around
Don't Become Lazy

11. Don't Work Overlong Hours

The Importance of a Sane Schedule
Planning to Work Less and Make More

12. Learn to Live With Luck

The Perils of Good Luck
Coping With Bad Luck

13. Pay Your Bills Early

The Benefits of Paying Bills Early
What to Do When You Must Pay Late

14. Embrace Your Best Competitors

Why It Makes Sense to Cooperate With Your Competitors
Your Competitors Are Your Natural Friends
Your Competitors Can Be a Source of Business
Working for Your Competitors
Your Competitors Will Help Define Your Reputation
If You Can't Say Something Nice …

15. Don't Buy a Franchise

Franchises That Are Good Deals
The Problems with Franchises
Evaluating a Franchise

16. Sell Services, Not Goods

You Can Keep Start-Up Costs Low
You Can Keep Marketing Costs Low
You Can Set Prices at Profitable Levels
Retail and Other Nonservice Businesses That Work

17. React Quickly to Bad News

Act Quickly on Bad News
Fix the Problem, Change Direction, or Quit
How to Cut Expenses

Sample Chapter

Introduction

On June 16, 1997, I walked out of my office on Nolo's second floor editorial area to see a group of editors gathered around Steve Elias, Nolo's associate publisher. Steve was holding a single sheet of paper. My curiosity piqued, I joined the others and was just in time to hear him read:

"The Unauthorized Practice of Law Committee [of the State of Texas] has received information that you may have engaged in activities which constitute the unauthorized practice of law #133; you are requested to provide the undersigned investigation with a written response to the foregoing description of your activities within ten days."

Although the rest of the letter was full of similar muddy legalese, one thing was clear -- the legal establishment of the State of Texas had begun legal proceedings against Nolo, which if successful could lead to our books and software being banned from sale in America's second most populous state -- an action that would almost surely lead to lawyers of other states also attempting to suppress our publications.