Business Lyceum
e-Letter
Practical
Instruction in the Arts and Sciences of Making Money
DECEMBER 2001
Greetings & Salutations:
This month, let's talk about, how to ...
Protect Yourself from SCAMS!
The biggest UN-kept Secret in the business community. -- Go
to your local public library.
I firmly believe that the biggest reason people fail in business
... beyond greed (which always goes hand in hand with stupidity)
... is a lack of understanding of the basic principles of 'real'
business. -- They fall for the con-games; again & again,
simply because they do not know how 'real' business works; so,
they accept the hype & b.s. as fact and pay the price for
their lack of understanding.
Being a farm boy ... son of a sharecropper (you've heard the
story before) ... I learned early in life that you can learn
anything you want to know from books - and - since I couldn't
afford to buy books back then, I discovered the local public
library. In its quiet spaces, I found the world of business
revealed and exposed in all its glory. -- Over the years, what
I learned sitting in the public library saved me from being conned
countless times; simply because I knew from what I had read that
'real' business didn't work the way the con-men told me it did.
-- Today, my personal library numbers over 6,000 books, booklets,
manuals, & manuscripts, on every subject about business you
can imagine.
So ... to protect yourself from the scam artists, go to your
public library and read, Read, READ & read some more.
Learn how 'real' business really works. -- Learn the jargon of
the business community (that alone will let you see the 'con'
in the words the con-man uses to sell his scam). -- Learn to
separate the myths & lies from the tried & true.
In the business community -- What you don't know can't just
hurt you, it can kill you.
Of course, one of the most important things you need to learn
is ...
The difference between an "opportunity"
and "information."
An "opportunity" is a deal whereby your involvement
and/or interaction directly with the promoter of the deal is
suppose to allow you to make money.
"Information," on the other hand, is only "information"
until YOU turn it into an "opportunity" by using that
information to do something you want to do.
I sell "information," not "opportunities."
To keep from being taken by the the con-men selling "opportunities"
you need to keep the difference between "information"
and "opportunity" uppermost in your mind.
As an example, in my mail recently, I received an "opportunity"
mailing from a company inviting me to participate with them in
the "Used Equipment" industry. -- They will teach me
how to do it, assist me in finding leads, assist me in selling
what I find and even buy & sell for me (splitting the profits,
of course).
The deal sounds fantastic. If I hadn't already been
involved in the Used Equipment industry, I might even be tempted
to buy their $695 plan - but - let's pretend for a moment that
I have no prior knowledge of the industry and am considering
buying their "opportunity." -- What would I do?
Before I ever invested in their deal, I would go to the library
and read (or at least scan) everything they might have on Used
Equipment. -- Then, instead of calling one of the references
provided by the opportunity promoter, I would look in the Telephone
Book Yellow Pages under the heading, "Used Equipment,"
and physically call on some of the companies involved in the
industry. -- I would take the offer from the opportunity promoter
along with me.
At each visit with a Used Equipment dealer, I would ask them
what they thought of the deal. -- Since I know the Used Equipment
industry, I can guarantee you that each of them would offer to
set up the same kind of buy, sell, split the profit deal for
me ... FREE!
Now, let's take this example and relate it to the "information"
offerings I make at my web site.
Let's pretend for a moment that YOU have just received a mailing
offering an "opportunity" in exporting ... buy, sell,
split the profits. -- So, you go looking for "information"
about how exporting is done. You go to the library ...
read some of the massive tomes written on the subject.
Then, you read my offer telling you that you don't need to know
most of what is in those books. -- You would buy my "information"
to learn how I did it.
Or -- use the internet to "buy" books & information
on the subject of interest to you ... like Amazon.com. -- Believe
it, or don't, I still "buy" over a $1,000 in books
& publications every year ... even though I get that many,
or more, as review copies.
Here's another lesson I have learned.
When there seems to be tons, upon tons, of information on
the net about a subject, you can just about bet your bippy that
the vast majority of it is hype & b.s. -- because -- if the
subject has that much interest, every petty con-man in the world
jumps on the bandwagon with their rendition of what they themselves
have read; in order to sell their useless "opportunities"
or valueless
"information."
That's like all those people selling information about "Making
a Fortune on the Internet." -- Some of them even have the
audacity to post on the Discussion Boards asking, "How can
I make my site sell more?" -- Then, when you go to their
web site, you find out they are selling information about (or
an opportunity to) Make a Fortune on the Internet. -- They can't
do it - but - they can teach it.
That should keep you thinkin' fer a while - and - remember
...
I "IS" an expert ... "x" being
any unknown quantity & a "spurt" being a drip under
pressure.
Now, let's do some ...
Questions & Answers, Comments
& Other Good Stuff!
Richard Miller wanted to know ...
"First off I like your e-letter. VERY nice. I know
nothing about making a web page but I would like to make one.
Do I need a special form to make it ? How would I upload
it to my server.. Can you give me some pointers to at least get
me started ? One quick question: HTML code. Do you
have to view the source of a page and then write codes in there..
Please just get me on the right track if you can."
Richard:
First, Thank You for your kind remarks.
In the summer of 1999, so many of my paper & ink customers
had asked where they could find us on the Internet. I decided
to set up our own web site ... facing the same challenge you
are now facing. -- Here's what I did ...
I went to the local bookstore and purchased a book entitled
"Creating Web Pages for Kids & Parents" ...
it included a CD filled with goodies. -- After I read it cover
to cover, and played with some of the software on the CD, I graduated
to the second book I had bought, entitled "Webmastering
for Dummies."
Finishing my basic training ... however limited ... I purchased
the "Adobe PageMill" program (a sample of that
software had been included on the CD) which allowed me to begin
creating my web pages without learning the HTML coding. -- At
the same time, I did a search on HTML online and began studying
everything I could find. -- The result was a web site that now
produces from 40% to 45% of my gross revenue.
I suggest that you start out much the same way. As you
progress, you will learn more & more about web pages and
how to make them do all kinds of wondrous things - but - keep
in mind that your web site MUST be convenient for your customers
(not you).
Rachel Solinger asked:
"In Orange County where my husband and I live, we have
a very wonderful OC Swap Meet every weekend with 100's of vendors
selling products. If you were to select a product to sell
at a swap meet, what would you recommend as good selling items."
Rachel:
Swap Meets & Flea Markets each have their own distinct
personality. What may sell very well at one may not sell
at another.
The best way to arrive at what kind of products to sell at
any given Swap Meet is to go to that Swap Meet and observe.
See which tables have the most visitors; which seem to be selling
the most. Then, select products similar to those products
sold at the most active tables - or - sell the same products
at a slightly reduced price - or - sell the same products at
the same price with a little bonus (free gift with purchase).
If there were a "good selling product" that would
sell anytime, anywhere, everyone would be selling it ... instead
of whatever else is being sold.
Go check out your local Swap Meets to find the kind of products
you need to be selling.
Gary Manning was wondering ...
"I was wondering if you had a 'template' contract for
a finder's fee. -- I used to work at an M&A firm, and
believe me, they had the sellers and buyers sign a contract agreeing
they will pay a fee if their company gets bought or sold. --
They had a public company try to renege on paying a $400,000
commission, but after the judge saw the contract and paper evidence,
he awarded the M&A firm 400k of the company's stock. -- An
oral agreement or meeting of the minds won't hold up in court.
-- Their contract was a standard contract, but had spaces for
obviously the buyer or seller, and a little other information.
-- That's why I thought you might have something similar, or
some guidelines. Or do I have to design one from scratch? --
Surely you used some when you did this line of work? -- I'm no
longer with the M&A firm, I don't have the financial skills
to complete a merger, but I've found buyers and sellers and have
matched them, which is what appealed to me about your book."
Gary:
In the M&A field there ARE acceptable "template"
contracts - but - there are more finder's fees made in other
fields.
In my course, Straw's First Law is ... "Put it in writing.
Get it in writing.' -- Therefore, an exchange of written letters
(not FAX; or email) wherein the conditions of the fee are spelled
out and accepted by both parties IS the contract. -- As a matter
of fact, I earned a number of M&A finder's fees without a
'template' contract; just a meeting of the minds expressed in
duly written and accepted letters. -- "Oral" agreements
are NOT acceptable in any way, shape or form.
A 'template' finder's fee contract usually gets tossed into
the round file unless the parties have actually reached a meeting
of the minds prior to its issuance. -- Unfortunately, in most
cases, the beginning finder comes across a 'template' contract
and sends it out willy-nilly expecting someone to sign it and
return it without knowing the finder or having any idea what
they may have. -- That is why I do not use; nor recommend the
use of, 'template' contracts.
Ryan Tang needed a contact
...
"I am a avid reader of your e-letter. Anyway, I want
to carry out a promotion where I will send physical gift certificates
to my customers in USA. -- I will be purchasing the certificates
from a vendor in US. -- So, instead of sending the certificates
from the vendor to me (in Singapore) and then sending it back
to the US to my clients, do you have any inexpensive contacts
that could send out the certificates to my customers on my behalf.
-- I have check with the vendor selling the certificates. They
do not provide such service. -- I appreciate your help and advice."
Ryan:
One of the mailing services I have had very good dealings
with is:
LELLI PRINTING, 2650 CR 175, Loudonville, OH 44842
- U.S.A. -- Phone: (419) 994-3622 -- FAX: (419) 994-5554
Suggest you send them an email explaining exactly what you
want to do. -- They'll get back to you
with their pricing, etc.
Paul Goodlad
wants to create his own future ...
"One of your most avid readers from the UK here. -- Crystal
Ball gazing is impossible - I might as well stick a pin in a
biz opps magazine to try and predict future needs!! Instead,
I'd like to prepare the ground by re-skilling myself to cater
for the needs of consumers in 6 or 12 months time. -- I have
little money but lots of time to invest in myself. -- Any suggestions
what I should do with this valuable resource to equip myself
with skills for the future and make my living from selling those
skills to the highest bidder? -- Should I become skilled in a
particular Software, Learn accountancy, Marketing or a foreign
language - not necessarily to gain a qualification but certainly
to gain marketable skills. -- If you had the chance to invest
6 or 12 months in yourself - what areas would you consider?
And, by the way, I'm a young 45 with a masters degree and a desire
to go it alone, not straight out of college - though I am probably
still wet behind the ears as far as being an Entrepreneur!!!!"
Paul:
We were all wet behind the ears, once. Without a beginning,
there can be no achievement.
To succeed in business (any business), you MUST "sell"
something to someone. Spend your time and resources
learning to "sell" ... whether in print or face-to-face.
Then, find something to sell. -- Don't try to "get rich."
Just try to "make a living." -- WHY? Because
no one ever got rich until they, first, were able to "make
a living" - and - the greatest fortunes in the world were
(and are) made just "one sale at a time."
Once you have mastered the art of selling, you will be welcomed
by any business, industry, or field of commercial endeavor.
Leonard Robinson had an idea
he needed to promote ...
"I own a broadcast voice messaging business. I
want to sell to banks, mortgage and insurance companies, non-profit
organizations and politicians to name a few. -- My company can
do up to 1,000,000 - 30 second voice messaging calls per day,
and we are inexpensive too. -- Since this business is new, I
am hardly working with any money for advertising and marketing.
How can I get the word out about my services via email marketing
for little or no money."
Leonard:
Why bother trying to sell the service yourself, you will be
only one voice - but ...
In this country, there are thousands of "Advertising
Agencies" who regularly sell advertising of all kinds to
their clients ... usually for a commission of only 15% of the
gross billing - and - you don't pay their commission until you
get paid; or they collect the gross billing amount from their
client and send you the 85%.
As a matter of fact, there are "Advertising Agencies"
who specialize in selling advertising to niche markets ... banks,
mortgage & insurance companies, non-profits & politicians
... just as you would - but - those people are already clients
of theirs and could well benefit from an inexpensive voice messaging
service.
If'n I were you, I would spend my time advertising your advertising
service to the advertising agencies.
THIS is what I live for ...
In the information publishing business, THIS is what we live
for:
Cynthia P. recently bought my report,
"How To Get $1,000-$5,000 Free & Clear within 30
days." -- She sent me this and I got her permission
to share it with you ...
"Just wanted to let you know, I ordered your report about
making $1,000 in 30 days. -- I've made $400 in just under 2 weeks,
and can't believe how easy it seems to be (well, aside from the
'elbow grease'). I've teamed up with my teenage son, and expect
to really go at it over the next month or so. He is wanting
money to buy his first car. -- I'm happy to have found something
we can do together, and that he will now also have as a 'fall-back'
in the future."
People like Cynthia are why we exist.
If you want to learn what Cynthia learned, check it out at:
Steve Strahl asked a question
I couldn't answer ...
"Your web site is very interesting and has helpful information.
-- I've been looking over your site, especially the 'Power Tools'
section, and am interested in some of the products, but am not
sure where to begin. -- I'm looking for a good home-based business
that I can do to be able to quit my job as soon as possible.
-- Is there any one specific opportunity that you recommend getting
started with?"
Sorry, Steve ...
That's one question I can't answer. -- It's like asking, "Who
is the most beautiful woman in the world?" -- It depends
upon who is looking. -- There is no way I can say "who is
the most beautiful woman" in YOUR eyes.
The same holds true of business. All I can tell you
is that the information I publish is taken from my own personal,
hands-on experience. -- I did it before I wrote about it, so
if any of those business ideas appeal to you, that may be the
business you are looking-for.
Heather Diodati wrote ...
"I have been enjoying your newsletters for quite a few
months now, ever since I started up my business web site.
Very informative and interesting; often solving some of
my confusion and problems along the way! Just want to say
thank you! -- Here's my latest dilemma: I'd like
to try something new but I don't know how to go about it.
Here it is. -- I know that an online newsletter can bring in
a lot of subscribers and hopefully some business along the way.
I'll be starting one but I need a name for it. So I decided
to run a contest to choose the name of the ezine. I set
up a contest page on my web site as well as a form to submit
but I don't know how to advertise the contest. -- If you have
any ideas please pitch them my way!"
Heather:
If I were running such a contest, I would post it on all of
the "Discussion Boards" and ask the board posters to
come up with a name.
Just include your contest URL -- http://www.whimsies-online.com/contest.htm
-- on the boards so they can go directly to the contest entry
form.
I'll put an item in the e-Letter ... maybe one of my readers
will have an idea.
Well ... that's it for this month. -- In order to make every
issue responsive to YOUR needs, please send me your questions;
or tell me what sources or resources you need to build your business;
or give me any thoughts you want to share with your fellow members.
Believe it or don't ... I ain't a mind-reader. -- If'n you
doesn't tell me what you need, I may never touch upon the information,
sources or resources you need.
This is your publication for you to use to your benefit ...
I am just your moderator.
Until next month, keep well ...
J.F. (Jim) STRAW
Book Worm
Thought For The Month!
"Information is the Key to Success. Whether You're
giving it out or receiving it ... whether You're Selling it or
Buying it, The RIGHT Information can make You a Millionaire ...
In both Your Bank account and Your Mind". - Jeff Bezos
Can you stump the old master? --
Betcha can't!
Over the past 40 years (man and boy), I have made bundles
of money in direct selling, service contracting, wholesale merchandising,
entertainment (I was a professional Trumpet player, vocalist
& Radio Announcer), freight forwarding, import/export, retail
merchandising, warehousing, real estate, electronics manufacturing,
finder's fees, closeout merchandising, financial brokerage, business
consulting, steel fabrication, gold and coal mining, offshore
banking, mailorder, writing, and publishing. -- That being the
case ...
No matter what business you're in ... whether you're just
starting, well on your way, or at the top of the heap ... I've
probably been where you are, done what you are doing. -- So ...
Anytime you have a question about 'how' to do something in
your business - or - if you have any comments about anything
I've said in issues of this e-Letter; or if you want to add your
2 cents worth ... just "ask" me or "tell"
me.
Send your Questions, Comments or 2 Cents Worth
to ...
with "Question" - "Comment"
- or, "2 Cents Worth" in the SUBJECT.
If I, personally, don't have an answer to any question you
may ask, I will contact some of the professionals in your field
of endeavor (I will probably know one or more personally) to
get the real 'skinny' for you.
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Copyright - 2001, J.F. (Jim) Straw. All rights reserved.