Published Work

You Need to Be a Little Crazy to Write a Book

Is writing, producing and marketing a book about the travails of entrepreneurship just as "crazy" as starting a business? With his own fresh on the shelves, small business expert Barry Moltz answers in this week's edition of The Business Bunker.

ePrairie: How is writing, producing and marketing a book comparable to founding and managing a business?
Barry Moltz: It actually is a lot alike. In fact, the next book I write I think will be called "You Need to Be Crazy to Write a Book." Just like starting a business, I wrote this book because my passion drove me to do it. I couldn't help myself.

If you look at the economics involved, it makes no financial sense. I did it because I felt that I had a story to tell and wanted to share the thoughts of other entrepreneurs. I wanted to crash the myths of the 1990s and bring back the strength of true entrepreneurs.

eP: You chose anecdotes from several entrepreneurs in the Chicago technology community (such as Dave Ormesher of Closerlook, David Weinstein of BlueMeteor and the Chicagoland Entrepreneurship Center and Ari Kaplan of Expand Beyond) to convey various trials and tribulations associated with starting a business. What recurring issues (specific to technology-focused entrepreneurs) did you come across in your conversations and research?
BM: Since the burst of the bubble, that business has profoundly changed over the last three years. We need to remember that the sooner we forget about the 1990s, the better off we will be. We are going back to a time when business is earned one sale at a time and customer by customer. Businesses are now built slowly over time rather than in leaps and bounds as technology companies experienced in the 1990s.

This big shift has also taught us a lot of humility. We now can appreciate our successes and failures. Weinstein discusses what he learned from his mistakes and how it has made him a stronger and better business person. Ormesher discusses weathering the ups and downs inherent in any technology business over the past 10 years. He also talks a lot about how important his team is to keeping his company thriving. Kaplan discusses how he bridged his baseball passion with his technical brilliance.

eP: Many entrepreneurs (yourself included) embrace multiple communication devices (cell phone, PDAs, etc.) to attend to their business relationships. You note, however, that "as social beings, we still don't really solidify relationships until we meet someone in person." Is there a danger that entrepreneurs (especially those who are younger and are tech focused) rely too much on impersonal forms of communication rather than the face-to-face meeting?
BM: Absolutely. All of the electronic devices are a good way to keep "track" of your relationship or can be easy ways to remind us to stay in touch. They are good for simple follow ups. Real business relationships, though, only happen face to face. There really is something to be said about "breaking bread" (eating) with a prospect or client who helps solidify a relationship.

As human beings, you only really get to "size up a person" by sitting across the table from him or her. If we try to substitute only electronic contacts for in-person ones, growth in our relationships will suffer.

With all these electronic means of communication, it can be "scarier" and more time consuming to meet with someone in person, but if you want to build that relationship, it is vital. This is where a 20-minute coffee at Starbucks is a perfect compromise in today's business society. It is longer than a phone call but shorter than lunch.

For example, I recently flew to Paris to help negotiate the purchase of a French company by a local technology firm. Though we had been talking on the phone and by e-mail for a month, we didn't make real progress until we sat down face to face. This is when we discovered whether or not the transaction could work.

eP: Is an entrepreneur's business always an extension of him or herself? Please explain.
BM: I don't know if the word "extension" is the right one. For example, the last business that I went into was distributing very technical software. Though I didn't have an interest in the software, I did have a passion for the people I was working with and the intricate relationships in the market. I could be selling coat hangers if I was working with people I enjoyed.

However, the entrepreneur's personality does ultimately become part of the business. I discuss this at length in the book. Your attitude toward your customers, vendors and others do become reflected in all your employees. They do follow you. For example, if you believe in superior customer service, they will, too. If you believe it is OK to lie to customers, they will, too.

Finally, you need to be able to integrate your personal and professional lives. We are told so much that we need to separate these out, but for the entrepreneur, he or she needs to figure out how to bring them together so they can live one life.

eP: You repeatedly remind readers that there is no romance in starting your own business and that the market economy does not have a soft spot for entrepreneurs. Rather, those getting into business for themselves may expect physical and emotional turmoil, complete financial insecurity and arrows in the back from one-time friends and business partners. Sure, you may "need to be a little crazy" to start your own business, but after completing the book, is there any urge to do something a little less insane with your life?
BM: I wish there was! I am addicted to the rollercoaster life of an entrepreneur. Since I no longer drink or smoke, I think this is the only way I can get my kicks. This lifestyle is not for everyone, but in the end, it is a very challenging and invigorating way to live your business life.