I just finished reading “Making Bread” from the founder of O’Briens sandwich bars.
It is the story of one man’s dream, which nearly ended as soon as it begun, to build a successful international franchise. Brody Sweeney shares great stories about all the relevant ups and downs that he went thought while leading his previous business, “Prontaprint” and his actual, “O’Briens”.
Find below the book-recap in 20 interesting lines:
1. You are the business
2. Bank loans: Banks are run by people. Build a relationship with your bank manager if you want a loan approved. Banks have no interest in taking risks. They’ll never give you 100% of the funding.
3. Business plan: Your projections will never be correct; they will be way below or above.
4. Avoid headaches, get a bookkeeper!
5. Make a list with a worst-case-scenario for your business.
6. They key of success lies in being consistent.
7. Recognise your suppliers’ achievements.
8. Planning the networking is key!!
9. The best networking is always face to face.
10. Do not network at the golf course if you are serious about business results.
11. Best investment: The day you buy is the day you sell.
12. Retail shop’s conversion: if you convert 2% you are doing really well.
13. Don’t worry about how much the other guy is making, concentrate on your own business.
14. Equity is blood.
15. Cash is king
16. What gets measured gets done.
17. Understand the key drivers of your business.
18. Understand the 80:20 rule
19. Be ready to do whatever it takes
20. Being good is good business (giving back to the community)
I strongly recommend this book for absolutely anybody that is thinking about getting into business or even is already, no matter for how long.
All the best