Book Review - How To Make Big Money in Your Own Small Business

I just finished How To Make Big Money In Your Own Small Business by Jeffrey J. Fox and I have to say I'm not very impressed. I was hoping for some full fleshed out ideas and tried and true tips, but it just felt like a quick list of thoughts from an author who just wanted to put out another book. In 150 pages he spits out 49 tips and doesn't go into any detail. I also found some of his tips contradicting other authors I have read.

Now I'm not saying there was nothing good in the book at all. There were a few good things I gleaned from this quick read. One thing that I can do to beat my competitors is to work harder. There is an interesting story of a grocer who goes out of business and complains to his grandfather who started the business. The grocer claims the new grocery store owners in the area were working 18 hours per day and he didn't know how to compete with that. The grandfather's response was to tell the young man to work 20 hours per day.

I think the grandfather is right. I can always work a little harder. If I read a bit less for pleasure, I can read a bit more about starting a business. I can write a bit more code, make one more blog entry, or research on more start up cost. There is always something I can do. If I can outwork the competition, I will be successful.

One tip that I found contradictory to other readings was his opinion of the home office. Fox believes that no one should work out of the home. He says the distractions are too much and no work will get done. I think that a motivated and focused person could be just as productive working out of their home. To be fair, I'm a bit biased because I am starting my business out of my home. There are also tax benefits to working out of your home. If you set aside a room of your home as an office, you can deduct that part of your mortgage payment off your taxes as a business expense. So, not only are you getting free space to start your business, you get a tax break on your normal living expenses. I think Fox discredits the home office a bit too much.

In a nutshell, if you want a quick read that may plant a few seeds of ideas, pick up this book. If you are looking for great in-depth advice to help start your business, look else ware.

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