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Success roadmap

New book for entrepreneurs offers formula for a profitable business
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Walk into any major bookstore today and you’ll find row upon row of the latest business and management books. Most have their own spin on how to run successful businesses and are filled with the latest buzzwords and up-to-date examples.  But they’re geared for those already familiar with the terms and operations of business, making it difficult for those without a business background or experience to comprehend and apply them immediately.

This is where Entrepreneur Press’s Mentor Series steps in, starting with Don Debelak’s Successful Business Models: Surefire Ways to Build a Profitable Business. The book’s strength is the author’s ability to analyze and explain in an accessible, straightforward manner the importance of a winning business model for aspiring entrepreneurs, one that’s easily applicable to a wide variety of businesses.

Instead of littering it with buzzwords and references, Debelak builds his book around a simple framework that’s crucial to the success of any business venture. He calls it the GEL factor (“Great customers,” “Easy sales,” “Long life”), the element that separates enterprises that prosper from those that fail. As a classic example of the GEL factor at work, he zeroes in on Starbucks. The coffee chain targets people who pamper themselves by spending on premium coffee. These people comprise a large, growing segment of the affluent urban markets. They are fastidious in their tastes but are easy to find and reach, thus helping ensure the continuing success and global expansion of Starbucks.

The first portion of the book looks at each of the three dimensions of GEL. Debelak describes the market situations usually faced by a variety of companies and the proper ways of dealing with them from the perspective of gaining customers, making sales, and ensuring business longevity. This feature makes the book a handy reference for businesspeople on how to deal with the business choices they need to make from day to day.

The second portion of the book shows the reader how to write a business plan once he or she has internalized the GEL factor analysis. This section should prove useful to many Filipino entrepreneurs and businesspeople—even the experienced ones. It will certainly help them prepare the business plans that can concretize what they want to achieve and how they wish to run the enterprise. Especially useful is the section of the book that shows sample plans and guides for writing each section of the business plan, as well as the chapters on accounting and financial information for beginners—crucial things that everyone going into business needs to know before taking the plunge.

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