Business Lyceum

e-Letter
Practical Instruction in the Arts and Sciences of Making Money


Editor/Publisher:  J.F. (Jim) Straw

MARCH 2003

Greetings & Salutations:

Have you ever just sat and tried to remember what it was like, when you were a kid, believing in Santa Claus?

A silly question, I admit - but - think about it a minute.

What if you were to meet a man over 30 years of age who still, honestly and truly, believes in Santa Claus.  Each Christmas Eve he stays awake trying to catch the jolly old elf.  His greatest ambition is to mount an expedition to the North Pole to locate Santa's workshop. -- No matter how hard you try to convince him that Santa Claus is not a real person but, rather, a character representing the giving spirit of Christmas, he still believes.

Using the illustration of Santa Claus is a little bit farfetched, but it serves, by exaggeration, to give you a point of reference for my ramblings this month.

Although I'm not so sure there aren't a lot of 30-year-olds out there who still believe in Santa Claus (and the Tooth Fairy, too), I am pretty sure that most of us DID, at one time or another in our childhoods, believe in such fairy tale characters.  But ...

We Grew Up!

In the process of growing-up, we went through a number of maturing stages.

Let's take "reading" as an easy example.

At first, we had books (with lots of pictures and very few words) read to us.  We even got to the point where we could recite the words that went with the pictures in our favorite books.  We, also, learned to recite short rhymes, sing the alphabet, and even say our numbers up to ten.

With time, we learned to recognize the individual letters of the alphabet, give each of them their name, and make the sound of each letter.  Then, we learned to combine those letters and sounds into short words; those short words into short sentences; and, finally, we were reading.

But ... reading words and sentences without understanding the meaning of what is being said is as bad as not being able to read at all.  So, we progressed to the study of our language and the use of words and sentences to express complete ideas, both impart and obtain information, and give directions. -- In so doing, we grew-up.

As all children must grow-up, so ...

Businesses Must Grow-Up, Too!

It doesn't matter whether a business starts with $42 (as mine did) or $42 Million -- each business must, and does, start as an infant, learn to crawl, then walk; learn to read, then understand; believe in business fairy tales (Santa Claus), then dismiss those beliefs and accept reality.

Just as it is with children, some businesses are slow learners.  They take years to learn the rudiments.  And, like show learning children, they either plod along until their persistence and patience is rewarded, or they throw up their hands and drop out (usually blaming the "system" rather than their own lack of persistence and patience for their failure).

Other businesses, of course, are like gifted children.  They learn rapidly and easily surpass the endeavors of others in their industry.  But, like some gifted children, they may diversify too rapidly and lose their competitive edge  ... or create new and unique methods that may threaten or frighten some government or other bureaucratic establishment, causing the business to be labeled as a rebel or an outlaw ... or become bored with a game they find too easy and drop out; opting for a more simple existence, which doesn't last very long because they soon find some other endeavor which captures their interest.  (Hey ... I'm speaking from experience here - and - I have the scars to prove it!)

Most businesses, however, are just like average children.  They grow from their infancy to full maturity by learning, understanding, and accepting reality.  Like average children, they learn and progress at their own speed.  (Not all average children of the same age read with the same understanding - but - they are neither slow enough to be labeled slow learners, nor fast enough to be labeled as gifted; just average.)  And, as each reaches a level of competency in their chosen field of endeavor, they continue the learning and understanding process ... growing and expanding as they become more proficient. -- That sentence gives you another insight into the learning (maturing) curve of businesses.

Every Business Has Two Areas of Required Education

The best way I can think of to explain what I mean is to relate a comment made by a friend of mine who owns a major catalog-printing company.

In his words, "Almost every pressman wants to own and operate his own print shop - but - they don't know the difference between a pressman and a printer."

After making that comment, he explained that any good "pressman" can make a printing plate, put that plate on a printing press, and run the number of copies the customer wants.  But, it takes a "printer" to bid the job, buy the paper, schedule the job, deliver the printed materials to the customer, collect the money, pay the bills, and keep a margin of profit.

Therefore, each business must learn and understand the methods and operations which are necessary to satisfy the needs of the business' customers. -- Like a pressman must know how to produce the very best quality printed materials; which relates to his specific ability to run the printing press.

Beyond that, each business must learn and understand the methods and operations necessary to run the business itself. -- Like a printer must know how to price the printing jobs at a price the customer will accept, with a profit margin when the job is done.

These two learning curves in a business are taking place at the same time but may be at different levels between infancy and maturity. -- It is not uncommon to find a business that is near full maturity on the "production" side, yet still just out of its infancy on the "management" side; or vice versa.

And ... believe it or don't ... there are a lot of otherwise mature businesses who still believe in "Santa Claus."  Well, not really Santa Clause, but what I refer to as ...

Business Fairy Tales!

Owing to the fact that anybody (and I do mean ANYBODY) can write about business and doing business, there are literally thousands of "business fairy tales" which are accepted and believed by even the most educated, sophisticated and professional business people.

These "business fairy tales" are usually initiated by otherwise well-meaning writers who have only read about a method of doing business and try to relate that information to their readers.

Not being "in" business, these research writers, of course, base what they write upon their own "consumer assumptions" of how the method, or technique, of business is applied in the business community.  Thus, through their lack of  pragmatic understanding of business applications, another "business fairy tale" is created ... a "business fairy tale" that far outlives its original author to become the foundation upon which a host of additional "business fairy tales" are initiated by future generations of research writers.

Unfortunately, it makes little difference whether you are the owner/operator of a "Ma & Pa Retail Shop," the manager of a company-owned store, the Chief Executive Officer of a "Fortune 500" company, or somewhere between or betwixt, all business people hold dear some of the "business fairy tales" they have often heard repeated, or ... worse yet ... learned in some 'theoretical' business class they attended (all too often part of the required curriculum for a college degree in business).

Without an experienced, pragmatic point of reference, even the most highly educated, sophisticated and professional business people accept those "business fairy tales" as fact and, until someone tells them different (and shows them a picture of daddy putting on a white beard), they believe it.

The great "Santa Claus of business fairy tales" (the most pernicious by far) is ...

"People Have Changed"

In my opinion, there should be a law (providing for the death penalty) against any writer who writes, or speaker who says ...

"Today, your customers are different, they are __________."

Fill in that blank with ... more discerning/less discerning ... more/less educated ... more/less affluent ... more/less sophisticated ... or some other such  nonsense.

Societal mores may change ... laws may change ... technology may change - but - People Never Change!  The very same stimuli that motivated people in the book of Genesis are still motivating people today.  (There's still a whole lot of begetting going on.)

If you hold this most vicious of "business fairy tales" dear, try (as I have) reading books about advertising and marketing published in the 19th century and comparing them with similar books that are published today.

Whether the book was written in the 19th century, or last month, it almost invariably starts with (or, at least encompasses) the comment that, "Today, your customers are different _______" - but - after that statement is made, the content is much the same, generation after generation.

The destructive power in this "Santa Claus of business fairy tales" is that, once accepted and believe, it leads otherwise stable businesses into changing their products, services, methods of operation, advertising and marketing in   order to meet the assumed changes in people.  Rather than selling to the individual needs of individual people, they try to sell to the collective needs of 'the' people.  As an example, just remember, even now the humble checkerboard and checkers still outsells (by volume) the most up-to-date, state-of-the-art games each year.

When a business attempts to cater to society as a whole, instead of 'people' as individuals, or forgets 'people' in favor of technology, it is doomed to  failure or ... worse yet ... sustained mediocrity.

Now that I have pulled the beard from the "Santa Claus of business fairy tales," the better prepared you will be to grow your business into the new    millennium. -- Just remember ...

Societal mores may change ... laws may change ... technology may change - but - People Never Change!

Companies that suffer from the "Santa Claus of business fairy tales" are forever increasing, expanding and enhancing their product line but their revenue and market-share never seem to show any improvement. -- In an effort to respond to the ways 'people have changed,' they have forgotten that, "If it works, it don't need fixing."

Think about it!


Now, let's do some ...

Questions & Answers, Comments & Other Good Stuff!

Win Harrington has a brilliant idea ...

"Here's a money making idea. -- How to Make $100,000 as a Kindergarten Teacher. -- The basic idea is that if school vouchers become popular in the future, teachers will be able to start their own small schools in their homes. -- In my city, the public schools spend over $8,000 to teach each student. Suppose the city paid teachers $7,000 to teach a student.  You could teach 20 students and gross $140,000, leaving a salary of $100,000 after expenses. -- Not bad and you get your summers off!"

You can check it out at his website:

http://www.PrivateSchoolForFree.com


Larry Akers needed to know ...

"Once I bring the Seller and Buyer together and they consummate the deal, what means should I use to ensure notification of the transaction. Assuming the worst and expecting the best, I am looking for the assurance of getting paid after the deal. People tend to forget the Finder after they have gotten what they want."

Larry:

IF you have diligently followed the procedures detailed in my course, you will have established a rapport with your client & your contact and should be informed as a matter of course when the deal is made.

Beyond that, it is always acceptable to simply ASK if the deal has been done ... without any accusations ... just ASK.


Ben Barnes had a question ...

Before I get to the question, I just want to let you know how helpful your information through e-letters, a couple of reports I ordered, and the Finder's Fees manual has been to me.  I am in the process of developing a Finder's Fees business specializing in the areas of the liquidation industry, medical receivables, and phone overcharges.  This may sound strange but I actually had a dream (an in my sleep dream) twice about 2 years ago where an old boss of mine actually told me "finder's fees is where it's at".  That was just the seed.  Since then that seed has really been growing and I have  simply kept my eyes and ears open.  While doing that and digging and looking around a whole new world has been opened up to me as far as business is concerned.  I've always wanted to be an entrepreneur - my dream is to build a sports park / recreation center for youth and teens someday as a service to a community, or who knows - maybe several. -- Anyway, I have developed a way to pretty much get more leads than I could probably handle (I did a small sample marketing and it was very successful) from manufacturers who have surplus and overstock inventory that they want to liquidate.  I am working on getting some buyers in line who would buy this stuff so that I could either buy it from the manufacturers (possibly even using options) and then sell it, or broker it using the finder's fees techniques.  I have found a few potentials through searching on the internet and also from a Finder's opportunity listing booklet that I purchased. -- So, my question is this: Do you know of any companies, i.e. liquidators, surplus and closeouts, etc.  who purchase JUST ABOUT ANYTHING - all types of merchandise?  I thought the best way to do it maybe to find a handful of good ones that I could develop a rapport with and just work with them. -- Any info or help is greatly appreciated and has been already.  Thanks for being willing to share your knowledge and experience."

Thank You, Ben ...

I appreciate your kind remarks.

Here's a little unkept secret that most beginners overlook. -- Closeout sellers are closeout buyers.

Think about it for a minute.  If they "sell" closeouts, they have to "buy" those closeouts somewhere.  SO ... find all the closeout sellers you can, offer them what you have, if they sell it they have to buy it somewhere.


Internet Sales Tax

The question of "sales tax" on mailorder sales has been a bone of contention, nationwide, for the past 40 years. -- Now, the question of "Internet Sales Tax" is in vogue - but - unless the Internet Sales Tax is enacted as a Federal law it has little chance of success.

The states, of course, want to extract every penny of taxes they can from the businesses in their state, but they are forbidden by the U.S. constitution from levying taxes on citizens of other states. -- In the case of "sales taxes," businesses are required by the laws of the state in which they exist to "collect and pay-over to the state" the taxes levied by the state on all "sales" made within that state.  Thereby, the businesses in that state become "tax collectors" for the state. -- Therefore, the businesses in one state, selling and delivering their products in another state (i.e., "interstate commerce"), cannot 'legally' impose and collect their state's taxes from the citizens of the other states.  Neither can they collect the sales taxes imposed by the state of residence of the buyer in Interstate Commerce because a business in one state can not be legally bound to operate as a taxing representative of another state.

 Seems simple, doesn't it?  But, it ain't.

Almost every year, at least one case of "failure to collect and pay-over sales taxes" is brought against some BIG mailorder company when some 'greedy' state taxing agency sees big dollars they might be able to get their grubby paws on. -- So far, those states have lost every case ... except where the mailorder company has a physical "presence" (office, warehouse, or other facility) within the state; then, and only then, have those states been allowed to collect (extort) "sales tax" revenue from those mailorder companies on sales made to 'residents' of that state.

Some 15 years ago, the state of Texas actually sent out notices to almost every mailorder business in the country instructing those businesses to collect and pay-over sales taxes on every sale made to a resident of the state of Texas. -- I got one, took it to our attorney, and was advised to ignore it because the state of Texas had no taxing authority over businesses in our state.

Although the "sales tax" laws in the states that impose a sales tax are all very similar, they are not all the same.  Therefore, you need to check-out the sales-tax law in your state or, better yet, have your attorney do it. -- Pay special attention to the provisions for "exempt" sales, sales in interstate commerce, and any exclusions or exemptions for companies that are primarily involved in interstate commerce ... some states even exempt collecting sales tax on sales within the state IF the 'company' generates most (usually 90%) of its gross revenue from sales in interstate commerce.


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
Grande Panjandrum



Thoughts For The Month!

"He that never changes his opinions, and never corrects his mistakes, will never be wiser on the morrow than he is today."  - Tyron Edwards


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.

Note: If you want to ask a question anonymously just tell me so when you send in the question. -- Nobody but you and I will know who asked the question.


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