Many times entrepreneurs (especially those in the startup phase) often feel that they are unable to take their business to the next level due to the lack of funds, experience, etc. According to Mike Michalowicz, author of The Toilet Paper Entrepreneur, even if you are experiencing the aforementioned problems, “…you have a shot at making this work.” I was hooked from the moment I read those words!
A Toilet Entrepreneur (TPE) is someone who is able to “fight in the trenches” by efficiently utilizing the resources they have which often times can be viewed as having the equivalent of three sheets of toilet paper. Despite the lack of resources, a TPE can still achieve success, but it will “…take time to build.”
Throughout the book Michalowicz shares the knowledge he has gained in the trenches which has enabled him to successfully launch three companies. This book not only dishes out practical information, but it is extremely entertaining (as if you could not tell from the title, this book does contain bathroom humor and language some may find inappropriate). He dispels the excuses given for not pursuing entrepreneurship by providing answers and plenty of examples that will leave you unable to justify not starting a business. Michalowicz is extremely honest about his experiences in making it to the top. He shares eight attributes that every TPE must embrace in order to accomplish their goal in running a successful business. These attributes are reinforced throughout the book with plenty of examples that will resonate with everyday entrepreneurs.
One of my favorite attributes is the “TPE uses ingenuity over money.”Often times, entrepreneurs view the lack of funds as a curse, but Michalowicz does not share in this opinion. “Money covers up problems and weaknesses. Without money, you’ve got to bring your ‘A’ game everyday.” Oftentimes, many people do not pursue entrepreneurship because of this very reason. It is extremely reassuring that someone of his status can confirm that it is possible to be successful without having a substantial amount of cash.
Michalowicz truly does a fantastic job demonstrating the correlation between your belief system and your ability to thrive in your endeavors. He spends a significant portion of the book discussing belief systems. He believes, “Your success is entirely contingent upon your foundation enabling beliefs, your relentless focus, and your actions consistent with those beliefs and focus.” Once a TPE’s beliefs have been established and are firmly embraced, he provides readers with the steps you need to take to turn your dreams into reality. He guides you through the process of identifying your niche, crafting your company values so you can attract your ideal customers, etc.
In “traditional” business books, this is usually the point where an author stresses the importance of a business plan. If you are looking for this information, you will not be receiving it from this book. Michalowicz believes that business plans are not necessary because “once a company is up and running, the business plan rarely, if ever, receives a second glance—let alone an update.” I am sure his viewpoint regarding business plans might be a cause for concern for some people; however, he suggests three documents that should be implemented instead of writing a business plan. I have to admit, Michalowicz documents are much more appealing and easier to maintain than a business plan. Even if you do not agree with his viewpoint, I do believe that the documents he suggests using are worth incorporating into your business.
Michalowicz gives TPE’s the blueprint they need to stay on track and not allow themselves to be hindered by distractions. He stresses the importance of being selective in choosing your clients. He also gives helpful advice in how to handle your funds once you start making money. I thoroughly enjoyed this book because he is not a “Media Darling Entrepreneur” and I believe many will relate to the experiences he shares in his journey to becoming a successful entrepreneur. I highly recommend this book because it will motivate you to efficiently use your “three sheets” so you can experience what it is like to live life with a “full roll.” I give this book 5 out of 5 stars.
This book was published in 2008 and contains 199 pages. The price of this book is $24.95 and can be purchased on Amazon.
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BOOK REVIEW - The Toilet Paper Entrepreneur
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