Wednesday, January 18, 2017

Writing a Book Is Like Starting a Business



When you've worked for 3 1/3 years coauthoring a book, the feeling of seeing the actual physical book offered for sale on Amazon and in brick and mortar bookstores is one of pure elation! But what makes my coauthors, Ed McLaughlin and Paul McLaughlin (pictured above), even more excited is when someone tells us that our book has actually helped them with their business. Comments like that make all the work worth it.

When we started out to create a book for entrepreneurs by entrepreneurs, we didn't realize that the endeavor would be just like starting a new business. Before we knew it, we found ourselves immersed answering a lot of the basic questions all entrepreneurs must answer:

  1. What was our main idea for our product?
  2. What was the purpose of our book?
  3. Who was the target audience? (Who was going to buy and read the book?)
  4. What unique value would we deliver?
  5. Were we filling an unmet need?
  6. How would we create the content and design its final form?
  7. Who were our competitors?
  8. How would we manufacture and distribute the book?
  9. How would we market the book?
  10. What other resources would we need to bring our creation to the market successfully?
These were not easy questions to answer. We spent hours discussing them and doing the homework necessary to develop our product, build an audience, and finalize and distribute the final product with the help of our publisher, Greenleaf Book Group. We not only wrote, edited, and rewrote every chapter; we also spent hours developing and executing our marketing strategy, which included feeding the social media machine, writing blogs, and developing an email list, in addition to using traditional marketing tools such as public relations.

The Purpose Is Profit

Here's a description of the book in a nutshell:

My coauthor Ed McLaughlin bootstrapped his first company, USI, grew it into an Inc. 500 company, and 14 years later sold it to a Fortune 100 company. The book uses the full arc of McLaughlin’s journey, including the failure of a second startup, to reveal the essential business principles all aspiring entrepreneurs need to know, including:

  • Why distinctive competence trumps passion in selecting the business to build.
  • Where and when to get funding without losing control.
  • How to build an entrepreneurial brand that lasts.
  • Why profit should be factored into every business decision.
  • How ethical behavior breeds trust and unlocks profit.

As a special feature, the appendix includes two essential guides: The Startup Roadmap and The Startup Funding Guide.

In the End

In the end it was worth the effort. A columnist for Entrepreneur.com wrote, "Here's a book every entrepreneur needs to read." Not only that, the book was the #1 New Release on Amazon in the New Business Enterprise category. All that made us feel pretty good.

If you want to learn more, go to: www.ThePurposeIsProfit.com. I'd love to know what you think of our book. Email me at wyn@thepurposeisprofit.com.

 

Saturday, May 9, 2015

Become an Entrepreneur! Start Up Now!





I'd like to make all my readers a special offer. I've just had a book published that I co-authored with Ed "Skip" McLaughlin, "The Startup Roadmap: 21 Steps to Profitability." Ed bootstrapped his business, grew it into an Inc. 500 Company and sold it to a Fortune 100 Company. I've been working with entrepreneurs for 20+ years, mentoring them and writing business plans. Ed and I have put our combined knowledge and experience into this book. We are offering a complementary eCopy of the book from our website at:  http://thepurposeisprofit.com/the-startup-roadmap/. The print edition is also available for $9.99 on Amazon. Anyone who wants to know more about the book, can read about it on our website at: The Purpose Is Profit.

About 15 years ago, I realized that one of the purposes I had in my life was to help entrepreneurs start and grow successful businesses. It turned out that Ed McLaughlin had that same goal. So when he approached me to co-write a book with him on his entrepreneurial journey, I jumped at the chance. We have been developing "The Purpose Is Profit" for the past two years. In the process, we realized that we had the makings of a separate book, "The Startup Roadmap." In writing and publishing "The Startup Roadmap," I feel that I am realizing this purpose. I want to share the knowledge with as many people as possible.

If you've been thinking of starting a business, I really hope you'll read "The Startup Roadmap."

Thanks!
Wyn

Friday, May 8, 2015

Publishing a Book




I have not been writing this blog on a regular basis because I've been busy writing a book entitled, "The Purpose Is Profit: The Truth about Starting and Building Your Own Business." In the process of developing that book, my co-author, Ed McLaughlin, realized that we had the material to create a separate book-within-the-book that we titled "The Startup Roadmap: 21 Steps to Profitability." We then took the time to publish The Roadmap separately while we were finishing the editing and design stage of "The Purpose Is Profit."

Here's the upshot: although I have been a freelance writer for over 30 years, I have finally joined the ranks of published authors. We have just released "The Startup Roadmap: 21 Steps to Profitability." The book is a succinct guide for anyone who is thinking of starting a business of any kind. Thinking through the 21 steps will help you with the mechanics of planning, launching, and running your venture.

Ed took his experience of bootstrapping a business, growing it into an Inc. 500 company, and selling it to a Fortune 100 company and put it into the steps in "The Startup Roadmap." I've contributed my 20+ years of mentoring and consulting with entrepreneurs and 15 years of writing successful business plans. Together, The Roadmap is chock full of information to help you as you start up.

If you need to write a business plan, you can use our book as an outline to help you craft the plan. The value is in answering the questions we've posed and thinking through each step as you plan your business. There has been a movement away from planning. But after working with entrepreneurs before and after the dot-com meltdown, I've learned that the people who plan and execute their plan have been the most successful.

"The Startup Roadmap" is available as a complementary PDF from our website. (Click here to get to the Offer.) Or you can purchase the print edition on Amazon for $9.99. It's a small book, but it's packed with powerful information.  

Please let me know what you think of our book. Email me at upstartwyn@gmail.com. If you have the time, we'd love for you to write a review on Amazon.

Or you can contact ed at: ed@thepurposeisprofit.com.

Thursday, November 13, 2014

Our Book Is Almost Finished!



For almost two years, I have been co-writing a book on entrepreneurship. When I began the process, I had no idea that writing a book would take so much time, thought and energy.

The main author, Ed McLaughlin, wanted to share the knowledge he had gained from quitting the corporate world and starting two businesses in the midst of a recession. One business was a failure, but the other one was a roaring success. Ed grew the successful one, USI, into an Inc. 500 company and sold it to a Fortune 100 company. He learned plenty along the journey.

Long before Ed approached me to write the book with him, I had been longing to take the knowledge I have gained from working with entrepreneurs and put it in a book. I wanted to help entrepreneurs and want-trepreneurs to know the process they needed to go through to build a sustainable business. The problem was how to differentiate the book from everything else in the market. How to cut through the clutter. Enter Ed.

In the book, we take you, the reader, along on Ed's entrepreneurial journey. As his story unfolds, you will learn the process of creating, growing and selling a business. You'll discover essential principles of running a successful business. And you'll read about the real life of a real entrepreneur -- all the ups, downs, and anxiety.

The book is titled: The Purpose Is Profit: Secrets of a Successful Entrepreneur from Startup to Exit. Like all good authors, we've created a website for the book -- www.thepurporseisprofit.com, and we are blogging regularly to share our knowledge freely with anyone who is on the fence about starting up or who needs to know more about the mechanics of starting and growing a business. Read the blog at: http://www.thepurposeisprofit.com/blog-page/.

We are currently offering a preview of Section 1: The Pull to Become an Entrepreneur. It's available as a download on our website. Just click on the offer.

I'll be posting more on what it's like to write and publish a book in the near future. Follow along on the journey. I haven't been posting much on this blog because I've been so busy with the book and the book's blog and social media.

The Purpose Is Profit has just entered the editing stage. The design stage is next. Stay tuned.

Thursday, August 7, 2014

How to Relax and Enjoy Summer

I was just outside putting the cover on the grill. I looked up and saw the gibbous moon. And I just totally stopped and relaxed and heard the crickets and looked at the fireflies in my garden and then back at the moon. And I felt complete peace. It was wonderful. 

We need to grab these moments of peacefulness.

Monday, January 27, 2014

Out of Poverty Via Small Business Ownership

I have a new appreciation for the term "bricks and mortar." Early this month (January 2014), I traveled to the Dominican Republic with members of my church (The First Congregational Church of Darien) to build houses with Habitat for Humanity. We didn't build houses for the poor. We built with them. This was quite a meaningful revelation to me. I found myself to be overjoyed as I toiled side-by-side with my fellow church members, Habitat building experts, and the families who would benefit from the manual labor we were all doing together. The kids were on a school break, so even kids were digging foundations and mixing mortar. They were dying to help us.



These people were dirt poor, but they had a work ethic. They had clean clothes (which really amazed me). But most of all, they had wonderful, open, friendly personalities. In one site, we were building bathrooms for families who lived literally in tin and wood shacks. The mom in one of the houses had been a widow for five years, but she did laundry and cleaning for others so she could feed her family. She occasionally sold mangoes from the tree in her yard. Habitat was subsidizing the construction of a bathroom for her family who, up until now, had been using an open-air pit near their home that was screened off by sheets of tin and cloth.


At another site, we dug the foundation, laid the cinder blocks, and applied the mortar to build a small house for a family with no home. The family would also own the land the house sat on -- right by beautiful yucca and bean fields. Their livelihood came from their own small business -- a stand they set up in town selling freshly grilled sandwiches and fruit juice at lunchtime. The business provided enough income so that they could afford to make payments to Habitat for their home financing. If the family's income grew, they could add onto the house, as it was designed to be expandable.

All over the Dominican Republic I saw evidence of people with small businesses working hard to eek out a living. The experience got me thinking that small enterprise, entrepreneurship, and micro-finance (including micro-finance for housing) were the best paths out of poverty for much of the world.

I'm curious what others of you think. 

Friday, December 20, 2013

An Evening with Angels



By Wyn Lydecker

It’s holiday season, so when I was invited to spend an evening with angels, how could it pass it up? Here’s the catch -- the angels I’m talking about are not celestial beings. They are investors in startup and early stage ventures, and they were all on a panel at Ultra Light Startups Investor Feedback Forum in New York.

I haven’t been to an entrepreneur pitching event in over a year, so I was really looking forward to it. I was not disappointed. Eight creative entrepreneurs gave a two-minute pitch to the panel of seasoned investors and an audience of over 200 at Microsoft’s New York offices. (Full disclosure: I was invited by one of the pitching entrepreneurs, Jim Medalia, owner of 225AM.) The panel asked questions and made insightful comments to each presenter. It was very interesting to hear the questions the panelists asked and the advice they gave not only to 225AM, but also to the other presenters. The investors saw the companies from such different perspectives than the founders.I could see how some of the comments gave new ideas to the presenters.

I was amused that during the advice portion, the hosts took the microphone away from the presenter. That forced the entrepreneur to listen and not use up time commenting on the advice. I’ve never seen that done before. Very good!

One thing that really struck me about the event was the number of women in the audience & in the mix of pitchers. In Connecticut, I only see a handful of women showing up at such events. And articles in the media would have you thinking that there’s a dearth of women entrepreneurs in the tech space. Not so last week. In fact, the entrepreneur who was chosen as the best presenter by the audience was a woman who had used technology to create new way for hard-to-fit women (ones who wear size 18+) to choose and buy custom-fit clothing. (Cynthia SchamesAbbeyPost)

Each presenter had developed an innovative solution to a genuine problem. Jim Medalia’s company, 225AM.com , provides an online service to help college and graduate students find full-time employment. Although the panelists joked about the name of the company, it captures the difficulty college students have today to fit job hunting into their demanding schedules. They only have time to work on their job search at 2:25 AM.

The need for help with finding employment is very real for college and grad students. Only 50% of college students graduate with a full-time job. 225AM acts like a mentor, guiding them through the process, organizing them, prompting them to take the actions they need to, and helping them connect to a network of referrals they didn’t even realize they had. If the student doesn’t know what they want to do when they graduate, the software helps them narrow it down. The placement offices at the University of Pennsylvania, Rutgers, the University of California at Berkeley and Stanford have all signed up to do beta tests with their students.

The other presenters had equally interesting businesses filling an incredible variety of needs:
·        Cynthia SchamesAbbeyPost
·        Raphael Crawford-Marksbonus.ly
·        Benjamin Bergsma - SeatAdvance
·        Jim Medalia – 225AM.com
·        Adam Stein-Sapir – LiveAce
·        Graham Clarke – Insight Replay
·        Pam Cooper – Boosterville
·        Kaiyi Chu – Votopin

I left feeling really excited about all the incredible energy that is going into the creation of new businesses in the New York Metro area. As a bonus, I got to see the angels and the tree at Rockefeller Center on my walk to Grand Central from Microsoft’s offices on 6th Avenue. This made for a perfect ending to the evening.