When Tuchman graduated from college in 1993, he entered the stockbroker
trainee program at Lehman Brothers but quickly realized his professional
path in the rat race would leave him unfulfilled. Armed with one phone, a
fax machine and his tiny, one-bedroom apartment, at the age of 25 he
funneled his passion for sports and business into his own company, Tuchman
Sports Enterprises (TSE). Within two years, TSE was named to the annual Inc.
500 list of America's fastest growing privately held companies and as one of
the top 100 promotion agencies by Promo Magazine. TSE, which was started
with no money and no investors, sold for millions of dollars to Premiere
Global Sports in 2006. Last year, TSE (now known as Premiere Corporate
Events) earned more than $70 million dollars in sales.
“I can’t tell you how many people warned me against veering off the safe
route at Lehman,” says Tuchman. “But I knew I had the drive and resiliency
to make something else happen for myself instead of spending years being
apathetic in my job, never knowing if I’d make it to the top. And given what
ended up happening to Lehman and other corporations, playing it “safe” might
have left me unemployed, broke, and in a career that I hated.”
In YOUNG GUNS, Tuchman shares practical tips and strategies for not only
getting a business only up and running but also ensuring its staying power:
○ Who are you helping? Your business needs a purpose, which means it
needs a customer. Always keep in mind that you are selling to someone.
○ Start your business plan, even if you’re not ready. Whether your
business plan is on a napkin or a 50-page document, you need to get it
started. Plans can be readjusted, but as long as the basic vision is there,
you can move forward.
○ Market yourself and your company. Talk to anyone and everyone about
your business because even if they are not the customers, they may meet
someone who will be. Make any and all connections and cultivate a company
personality as an extension of your own.
○ Selling light and performing heavy. Promise your customers what you
know you can deliver (be honest!) and then strive to do more. People
remember it when you exceed expectations and this will get you more business
in future.
○ Failure and the learning curve. You or someone on your team will fail
occasionally. No one is perfect. The best thing to do is step back and learn
from these mistakes. You will come back stronger each time because of them.
Tuchman also lays out entrepreneurial tenets such as building a
successful team and vendor relationships, setting clear first-year goals,
and finding the right partners (while avoiding the wrong ones). Throughout
the book, “reality checks,” like making sure young business owners stay on
top of advancements in technology and communication, keep the reader on
track. “This is the moment to turn your passion into something tangible,”
says Tuchman. “You’re in control of setting the rules for your life’s
agenda. If you feel the drive in your gut, got for it now.”
About the Author:
Robert Tuchman is the Founder of TSE Sports & Entertainment, a company he
started out of his one-bedroom apartment in Manhattan at the age of 25. TSE
has gone on to appear on Inc. 500’s list of America’s Fastest Growing
Privately Owned Companies. Tuchman now serves as President of Premiere
Corporate Events, a division of Premiere Global Sports. A frequent guest on
"Your World with Neil Cavuto," he has also appeared on CNN, the “CBS Morning
News,” BET, and has been the subject of features in USA Today, The New York
Times, The Wall Street Journal, and Entrepreneur. He lives in New York City.
Title: Young Guns:
The Fearless Entrepreneur’s Guide to Chasing Your Dreams and Breaking Out on
Your Own
Author: Robert Tuchman
ISBN-13: 978-0-8144-1070-7
Pub. Date: May 1, 2009
Price: $21.95 Hardcover
Pages: 224
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