The Richer Way
Julian Richer has built a £100m+ group of businesses from nothing. His best known company, Richer Sounds, is the biggest and most profitable hi-fi retailer in the UK.
In 2019, Richer Sounds has won the Which award for Retailer of the Year for the 5th time so they must be doing something right and continuing to do so. So can you.
His book, The Richer Way, is a must-read for anyone running a business. It is full of useful insights and ideas based on many years of practical experience including;
- A good suggestions scheme is like having an oil well in your back garden. There is no more important tool for management.
- Trying to run a business without accurate management information is like flying a helicopter in the fog at night without radar. It is very important to keep your eye on the results.
- If good customer service was easy, everyone would be doing it. Good customer service is the cheapest and the most effective form of advertising. It also makes people come back again and again.
- Three tests that your business is ready to grow; 1 financial controls, if you are producing reliable figures every month, that proves you have the self-discipline to go further, 2 employees, you must have (good) managers and staff in place, 3 financials, you should build on strong foundations. Never try to expand out of trouble.
- Building a successful business is like tending a bonsai tree, growth should be slow and controlled. Evolution not revolution.
He finishes the book with his Ten Ways To Improve Your Business Today. But you’ll have to buy the book to find out what they are.
If you only read one business book this month, make it this one.
Make your life richer.
Good luck with your business.
Thanks for reading!