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Built, Not Born
Get tested and proven advice on how to navigate risk and succeed in all phases of business ownership from a successful entrepreneur who turned a small startup into a billion-dollar company. Self-made billionaire and Paychex founder Tom Golisano understands the fears, risks, and challenges small-business owners face every day. He has launched and grown his own highly successful business and mentored dozens of entrepreneurs, helping them build their own fruitful companies. Golisano knows how nervous aspiring business owners are about the risks of entrepreneurship. Now, he’s sharing the startup-to-exit secrets to success and how he turned $3,000 into $28 billion dollars. Built, Not Born shows Built, Not Born provides a direct and practical approach on how to overcome everyday challenges. This essential handbook is a key resource for current and aspiring entrepreneurs on how to start, grow, and operate a successful business.
224 pages, Paperback
Published January 17, 2023
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469 people want to read
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Displaying 1 - 23 of 23 reviews
January 5, 2021
I take business books written by entrepreneurs seriously. The higher the reverence if it's written by a self-made billionaire. Golisano's book is one of such books: full of wits, practical wisdom and tested and proven strategies in managing and growing a business.
Golisano is the founder of Paychex, a payroll processing company. He started Paychex in 1971 with $3,000 of his saving and an additional credit card loan. Paychex is worth over $28 billion in valuation. Mehn, picking a billionaire's brain is a worthwhile adventure.
In Built, Not Born, Golisano presented his hard-won lessons from his entrepreneurship journey that spans over five decades. It's a how-to guide of sort for aspiring and seasoned entrepreneurs.
Built, Not Born practically covers every relevant topic in business and entrepreneurship. From who's an entrepreneur to business planning to negotiation to strategy to staffing to funding to growth to selling the business. And much more.
In reading this book, I felt like a veteran entrepreneur held me by the hands and graciously and patiently sharing his long year's of experience; the principles, and the ups and downs of founding and growing a small business to a multi-billion conglomerate.
Chapter one speaks to me at a personal level. This in particular: "Relying on a job can be one of the riskiest things you do ... There’s a lot of insecurity working for other people; don’t let anyone tell you differently. One other thing: you can’t sell a job or pass it along to your heirs. Build a successful business, however, and it can provide income and security in retirement; not only that, it can outlive you".
Okay, let's highlight some key takeaways and nuggets in the book:
* Entrepreneurship is not as risky as you might think.
*Being employed is not risk-free.
* The viability of a business can be shown on a one-page profit and loss projection, which shows you immediately what you have to do to turn a profit.
* If you don’t have sufficient capital to safely start your business, don’t.
* If you don’t have enough seed money to begin the process of starting your own company, find a creative way to raise it.
* Recurring revenue businesses offer better opportunities for sustainable sales than nonrecurring revenue businesses.
* Never assume there is a market large enough to create sufficient revenues and profit to cover your business’s overhead.
* Always be aware of your gross profit margin and understand what revenues you need to cover costs and also make a profit.
* Overconfidence in your product or service can be dangerous.
* Cash flow problems are a direct result of not generating enough revenue through sales. Therefore, they are actually a sales problem, not a cash flow problem.
* Nothing happens in a company until somebody sells something.
* The biggest mistake entrepreneurs make is a tendency to overestimate their ability to sell their product or service.
* The best person to sell your product initially is you.
* It’s important to treat people with respect and encourage cooperation.
* It makes good business sense to bring everyone along with you and create situations where it’s a good deal for everyone.
* If you hold the balance of power, it is your responsibility to wield it with integrity, fairness, and compassion.
* The thing with corporate culture is that either you have one by default, or you create one that fits with your philosophy and values. The latter is preferable.
* Establishing a positive, well-defined organizational culture is important. However, if overdone it can stifle creative thinking and encourage an overtly political atmosphere and lead to backstabbing. Balance is key.
* Anyone with a desire to become an entrepreneur can become a better leader and manager. Success depends on you. You need to know your stuff. Good managers know their businesses intimately.
* Good leaders can create a vision, sell that vision, execute it, and continually monitor the company’s progress toward the vision. You are responsible not only for your own actions but also for those of your company.
Golisano is the founder of Paychex, a payroll processing company. He started Paychex in 1971 with $3,000 of his saving and an additional credit card loan. Paychex is worth over $28 billion in valuation. Mehn, picking a billionaire's brain is a worthwhile adventure.
In Built, Not Born, Golisano presented his hard-won lessons from his entrepreneurship journey that spans over five decades. It's a how-to guide of sort for aspiring and seasoned entrepreneurs.
Built, Not Born practically covers every relevant topic in business and entrepreneurship. From who's an entrepreneur to business planning to negotiation to strategy to staffing to funding to growth to selling the business. And much more.
In reading this book, I felt like a veteran entrepreneur held me by the hands and graciously and patiently sharing his long year's of experience; the principles, and the ups and downs of founding and growing a small business to a multi-billion conglomerate.
Chapter one speaks to me at a personal level. This in particular: "Relying on a job can be one of the riskiest things you do ... There’s a lot of insecurity working for other people; don’t let anyone tell you differently. One other thing: you can’t sell a job or pass it along to your heirs. Build a successful business, however, and it can provide income and security in retirement; not only that, it can outlive you".
Okay, let's highlight some key takeaways and nuggets in the book:
* Entrepreneurship is not as risky as you might think.
*Being employed is not risk-free.
* The viability of a business can be shown on a one-page profit and loss projection, which shows you immediately what you have to do to turn a profit.
* If you don’t have sufficient capital to safely start your business, don’t.
* If you don’t have enough seed money to begin the process of starting your own company, find a creative way to raise it.
* Recurring revenue businesses offer better opportunities for sustainable sales than nonrecurring revenue businesses.
* Never assume there is a market large enough to create sufficient revenues and profit to cover your business’s overhead.
* Always be aware of your gross profit margin and understand what revenues you need to cover costs and also make a profit.
* Overconfidence in your product or service can be dangerous.
* Cash flow problems are a direct result of not generating enough revenue through sales. Therefore, they are actually a sales problem, not a cash flow problem.
* Nothing happens in a company until somebody sells something.
* The biggest mistake entrepreneurs make is a tendency to overestimate their ability to sell their product or service.
* The best person to sell your product initially is you.
* It’s important to treat people with respect and encourage cooperation.
* It makes good business sense to bring everyone along with you and create situations where it’s a good deal for everyone.
* If you hold the balance of power, it is your responsibility to wield it with integrity, fairness, and compassion.
* The thing with corporate culture is that either you have one by default, or you create one that fits with your philosophy and values. The latter is preferable.
* Establishing a positive, well-defined organizational culture is important. However, if overdone it can stifle creative thinking and encourage an overtly political atmosphere and lead to backstabbing. Balance is key.
* Anyone with a desire to become an entrepreneur can become a better leader and manager. Success depends on you. You need to know your stuff. Good managers know their businesses intimately.
* Good leaders can create a vision, sell that vision, execute it, and continually monitor the company’s progress toward the vision. You are responsible not only for your own actions but also for those of your company.
September 1, 2020
A very quick read. Gives valuable snippets on being and becoming an entrepreneur.
November 28, 2022
Throughout the first 1/2 of the book it gave a lot of very important information about how to start many streams of income, wealth management, & etc. However as soon as I got to page 110 it started to talk about relentless information and it had nothing to do with the following. If it wasn't for the first half of the book I would give this book 1 star.
August 10, 2020
Best business book I have read in a long time. Maybe ever. Short on gimmicks and long on practical, no nonsense advice.
April 30, 2023
"Built Not Born" by Tom Golisano is an inspiring book that challenges the traditional notions of success and shows that anyone can build a successful career and life with hard work, determination, and resilience.
The author shares his personal journey of overcoming the odds and building a multi-billion dollar business empire from scratch. He also shares practical advice and insights based on his experiences, which are valuable for anyone who wants to achieve success in any field.
One of the things that I appreciated about this book is the author's emphasis on hard work and perseverance. He dispels the myth of "natural talent" and shows that success is not just about being born with certain abilities, but also about putting in the effort to develop those abilities through practice and persistence.
Another thing that sets this book apart is its focus on giving back. The author shares how he used his wealth and influence to create positive change in his community and around the world. He encourages readers to do the same and shows how making a positive impact can be just as rewarding as achieving financial success.
Overall, "Built Not Born" is a powerful book that will inspire anyone who wants to achieve success on their own terms. It's a reminder that success is not about where you come from, but about what you do with the opportunities that life presents. I highly recommend it to anyone who wants to build a meaningful and fulfilling life.
The author shares his personal journey of overcoming the odds and building a multi-billion dollar business empire from scratch. He also shares practical advice and insights based on his experiences, which are valuable for anyone who wants to achieve success in any field.
One of the things that I appreciated about this book is the author's emphasis on hard work and perseverance. He dispels the myth of "natural talent" and shows that success is not just about being born with certain abilities, but also about putting in the effort to develop those abilities through practice and persistence.
Another thing that sets this book apart is its focus on giving back. The author shares how he used his wealth and influence to create positive change in his community and around the world. He encourages readers to do the same and shows how making a positive impact can be just as rewarding as achieving financial success.
Overall, "Built Not Born" is a powerful book that will inspire anyone who wants to achieve success on their own terms. It's a reminder that success is not about where you come from, but about what you do with the opportunities that life presents. I highly recommend it to anyone who wants to build a meaningful and fulfilling life.
February 13, 2025
# 👍🏻 What I Liked About It
- Very light-weight reading, open and coherent
- Lots of good advices, experiences, flaws and regrets
- Takeaways, incredibly useful
# 👎🏻 What I Didn't Like About It
- Author sounds like a teacher, who is trying to give you a lesson, while knowing better
# 👨🎓 What I’ve Learned
- The best advertising comes from satisfied customers.
- You can’t sell a job or pass it along to your heirs. Build a successful business, however, and it can provide income and security in retirement; not only that, it can outlive you.
- You can choose whatever industry you want and whatever product or service you want to sell, with one caveat: you need to know an enormous amount about your industry and what you are selling.
- If you don’t have sufficient capital to safely start your business, don’t.
- If you don’t have enough seed money to begin the process of starting your own company, find a creative way to raise it.
# 📜 Quotes
To adapt a well-worn Quote, “Luck is when hard work meets opportunity.”
“Lead, Follow, or Get Out of the Way”
- Very light-weight reading, open and coherent
- Lots of good advices, experiences, flaws and regrets
- Takeaways, incredibly useful
# 👎🏻 What I Didn't Like About It
- Author sounds like a teacher, who is trying to give you a lesson, while knowing better
# 👨🎓 What I’ve Learned
- The best advertising comes from satisfied customers.
- You can’t sell a job or pass it along to your heirs. Build a successful business, however, and it can provide income and security in retirement; not only that, it can outlive you.
- You can choose whatever industry you want and whatever product or service you want to sell, with one caveat: you need to know an enormous amount about your industry and what you are selling.
- If you don’t have sufficient capital to safely start your business, don’t.
- If you don’t have enough seed money to begin the process of starting your own company, find a creative way to raise it.
# 📜 Quotes
To adapt a well-worn Quote, “Luck is when hard work meets opportunity.”
“Lead, Follow, or Get Out of the Way”
March 9, 2025
In a world where technology has made it possible for anyone to dole out advice, I've been making a conscious choice to tune in more to those who have relevant experiences. As the founder of Paychex, Tom sure has earned his stripes.
The book is a straightforward read. I listened to it during a couple of long workouts. There are some themes you'll find in other similar books. There are some novel elements too.
My top three takeaways: (1) to learn to spot anomalies in financial statements, (2) to make a conscious attempt to do rough calculations of businesses we come across, and (3) to think more about recurring revenue business models like subscriptions.
The book is a straightforward read. I listened to it during a couple of long workouts. There are some themes you'll find in other similar books. There are some novel elements too.
My top three takeaways: (1) to learn to spot anomalies in financial statements, (2) to make a conscious attempt to do rough calculations of businesses we come across, and (3) to think more about recurring revenue business models like subscriptions.
August 5, 2023
How to be a capitalist mogul! A lot of the information felt obvious and self explanatory to me. Helpful tips, that can be applied to someone just starting a business or someone who’s been in the game a while. He kept saying NoT to make business a cutthroat, win at all cost venture- but I just kept getting a vibe that this guy values market values and profits over anything else in life. Gonna have to re-read ’Saving Time’ to center myself. Maybe I’m not meant to be an entrepreneur??
July 12, 2020
Not bad but could have been better
While the author has made genuine attempt in passing on his wisdom to the readers, the book as such falls short of being an engaging one. It is like a documentary. Had it been like a story it would have been more fascinating to read. But yes if you are interested in reading an academic book on how to make a successful business then go for it.
While the author has made genuine attempt in passing on his wisdom to the readers, the book as such falls short of being an engaging one. It is like a documentary. Had it been like a story it would have been more fascinating to read. But yes if you are interested in reading an academic book on how to make a successful business then go for it.
May 19, 2020
Truly no-nonsense guide, which I liked a lot. Straight to the point, informative and actually fun.
March 5, 2021
I think Rich Dad, Poor Dad is a much better read.
January 10, 2022
My review
I would recommend this book to young entrepreneurs as its full of pieces of advises and wisdom from Tom's experience.
I would recommend this book to young entrepreneurs as its full of pieces of advises and wisdom from Tom's experience.
February 26, 2022
Overall good book.
March 30, 2022
A great book for anyone want to start a business with the inside experience of founder Paychex
May 8, 2022
practical concepts
December 25, 2022
Disappointed. Started of interesting but then I realized that there is no “new” thing to learn, it just contains some common sense while boring you.
I dropped it halfway. Not worth your time.
I dropped it halfway. Not worth your time.
April 25, 2024
Headway
June 12, 2024
The little bits of advice come off more like someone trying to sound smart rather than actually help.
March 24, 2020
Solid, "common sense" over view
April 27, 2023
Tom Golisano, the founder of Paychex, penned an inspirational guide for entrepreneurs in his book "Built, Not Born: A Self-Made Billionaire's No-Nonsense Guide for Entrepreneurs." The book provides an engaging and practical roadmap for aspiring business leaders who are looking to build a successful company from scratch.
Throughout the book, Golisano shares his personal experiences and challenges faced during his journey of building Paychex, a company that provides payroll and human resource services to small and medium-sized businesses. He starts with his humble beginnings, growing up in a working-class family and the lessons he learned from his parents. He then takes readers through his various entrepreneurial ventures and how each one taught him valuable lessons that he would later apply to building Paychex.
One of the standout aspects of "Built, Not Born" is how Golisano emphasizes the importance of core values in building a company. He highlights how values like hard work, perseverance, and integrity can serve as a foundation for a successful business. Additionally, he stresses the importance of maintaining a company's culture, as well as giving back to the community.
The book also provides practical advice on various aspects of running a business, from fundraising to leadership to employee management. Golisano offers his no-nonsense approach and shares his own missteps to help readers avoid common pitfalls.
In conclusion, Built, Not Born is a must-read for anyone who is serious about building a successful company from scratch. Golisano's candid and practical advice, along with his inspiring personal story, make this book a valuable resource for entrepreneurs. Whether you're just starting out or looking to take your business to the next level, "Built, Not Born" provides a roadmap for success.
Throughout the book, Golisano shares his personal experiences and challenges faced during his journey of building Paychex, a company that provides payroll and human resource services to small and medium-sized businesses. He starts with his humble beginnings, growing up in a working-class family and the lessons he learned from his parents. He then takes readers through his various entrepreneurial ventures and how each one taught him valuable lessons that he would later apply to building Paychex.
One of the standout aspects of "Built, Not Born" is how Golisano emphasizes the importance of core values in building a company. He highlights how values like hard work, perseverance, and integrity can serve as a foundation for a successful business. Additionally, he stresses the importance of maintaining a company's culture, as well as giving back to the community.
The book also provides practical advice on various aspects of running a business, from fundraising to leadership to employee management. Golisano offers his no-nonsense approach and shares his own missteps to help readers avoid common pitfalls.
In conclusion, Built, Not Born is a must-read for anyone who is serious about building a successful company from scratch. Golisano's candid and practical advice, along with his inspiring personal story, make this book a valuable resource for entrepreneurs. Whether you're just starting out or looking to take your business to the next level, "Built, Not Born" provides a roadmap for success.
This entire review has been hidden because of spoilers.
February 17, 2020
The Marketing project managers read this as a team at work, reading one chapter a week and discussing it at our staff meeting. Because I have worked at Paychex for almost 30 years, this book was especially interesting to me. He mentioned some people and situations that I know very well. I give Tom a lot of credit for sharing some of his failures and regrets in the book, too. I admire Tom Golisano and his entrepreneurial spirit that has greatly benefited Rochester New York and my very own family!
January 16, 2020
This is an essential book for any entrepreneur. I've started three successful companies, and still the no-nonsense advice in this book was invaluable to me. What I like most about the book is how practical it is. Great read. Well written. Life-changing advice for your business.
February 10, 2020
Great how-to guide for entrepreneurs. Thorough but also concise and readable. The section on Understanding Sales was particularly useful, and Golisano's HR Philosophy should be required reading for all business owners.
Displaying 1 - 23 of 23 reviews