Tag Archive for: business

Betties Book Brief – Street Smarts

It’s time for another Betties Book Brief and we are extremely excited to chat with you about the book we read in August. Street Smarts: An All-Purpose Tool Kit for Entrepreneurs was written by Norm Brodsky and Bo Burlingham and is a no-nonsense comprehensive guide full of tips that you can actually implement today. With 104 raving reviews on Amazon, we had to see what the hype was about and we were pleasantly surprised at how enjoyable of a read this book actually was.

Street Smarts is full of anecdotes that really offer a been there, done that point of view on many pitfalls small businesses face. We’re excited to share our favorite takeaways below!

6 Key Points We Loved in Street Smarts

  1. Don’t discount your extra capacity just because it’s available. Rationalizing that you’d rather have some money than no money is never a good idea and ultimately a really bad decision.
  2. Always negotiate quietly. Listen to what the other party wants, haggle and be flexible on it, then come back to what matters to you and offer “I’ll give you X, but I’ve got to have Y.”
  3. You cannot do business with everybody. This is the number one rule in business. One word that you must master is “No!”.
  4. Small, high-margin customers > large, low-margin customers. No single customer should be more than 10% of your business and large customers as a whole should be less than 30% of your business.
  5. Raise prices regularly. Don’t piss off your customers by doing this too much, but avoid the sudden hike in prices later on because you didn’t raise them a little at a time earlier.
  6. Don’t buy a business that grossly undercharges. Keeping an existing customer base during a sale is hard enough. If your first order of business has to be raising prices, you’ll be in for a rude awakening.

Have you read this book?

What did you think?

Did you come up with any great takeaways that we haven’t listed here?

Let us know!

Building Better Business Relationships

Have you ever heard of the expression, “it’s not about what you know, but who you know”? For entrepreneurs, the people you meet can potentially shape the identity of your business.   You may find the perfect business connection through a mutual colleague, or by you yourself getting out into the community; the point is – you can’t run your business alone.  It is important is to find strong supportive networks, so you can cultivate great business with quality relationships.

A Good Network

While spending time building your network can seem taxing, this can be time well spent.  A Harvard study found that 85% of business success comes from people skills that are used to build relationships. Networking can bring in relationships that are mutual.  Meaning, you do not have to skirt around the intention that everyone is there for a business relationship.  It’s important to exercise the 70/30 rule – spend 70% of your time actively learning about others and how you can connect them within the business and 30% answering questions about you and what you do.  Listening to others and their ideas can be a great asset to your business on ways to improve, bring innovation, and possibly build power-partner relationships.

Be Trustworthy

If you want to build solid business relationships, be ‘you’ are and steer away from a false persona (especially online).  Be willing to accept others as they are and seek out natural connections you make with people.  Look for signs of things you have in common or if your communication is effortless.  Connecting your personality with others can act as a catalyst with your business relationships.

Hiring The Right Employees

Another key to growing your business internally is hiring the right employees.  It is essential to hire workers with diversity that possess different views and opinions.  This will guarantee that team meeting are full of different ideas and solutions to many topics your business will face. During your recruitment phase, a key characteristic to look for is a person having profound respect for diversity and fresh ideas.  Once you have a good team in place, fresh ideas and innovation will come naturally.   In addition, the biggest challenges that come up in your business will feel more untroublesome.


As you develop professional relationships with others, keep an open mind and try to let go of your expectations.  It’s ok to have a realistic idea of what you seek out of a business relationship, however never assume preconceived expectations of what you want.  There must be mutual respect for what each person does and acceptance of who they are rather than what you want them to be.  In turn, this will create great trust and relationships that are meaningful and profitable.

To building significant business relationships!


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