MAY 2004
Greetings & Salutations:
Did you eat today? -- Are you wearing clothing? -- Do you
have a place, out of the elements, to sleep tonight?
What more do you need ... today?
You may want a ho'bunch of other things - but - all you need
to survive TODAY is Food, Clothing and Shelter. Nothing
else is necessary to your existence TODAY!
It doesn't even matter how meager your meals may be; or how
ragged your clothing; or how dilapidated your housing ... you
will survive TODAY, won't you?
As a matter of fact, even if you don't eat today, the clothing
you have is insufficient to keep out the elements, and you have
to sleep under a railroad bridge tonight, the chances are, you
will survive ... at least until TOMORROW.
Think about it!
I'm not kidding. -- Stop for a moment and think about it!
Okay! Did you think about it?
What do you think that has to do with making a
fortune?
Once you finally realize that, no matter what, you will survive
TODAY, you will be prepared to spend the "time" necessary
to get all the other things you want ... enough "time"
to succeed, even make a fortune!
Last week, when I noticed the dogcatcher circling the block
around my office, I sneaked out the back door and went to the
barbershop for a much-needed haircut. -- As I waited for Jack
(my barber) to lower my ears, I noticed a new witticism posted
on the wall behind his barber chair. It read:
"Why is there NEVER enough time to do a job
right but always enough time to do the job over?"
Later that same day, one of my readers called. -- He had called
before ... some four months ago ... seeking my help.
When I had first spoken with him, he was looking for an investor
... someone to put-up at least $250,000 ... to expand his business.
-- He was willing to give-up 25% to 30% of the business to the
investor.
His business was grossing just over a million dollars a year
but, due to his highly leveraged financial position, profits
were thin and overhead was high. -- The $250,000 would allow
him to reduce his overhead costs at least 30% and increase his
spendable cashflow, by eliminating a sizable portion of his high-interest
debt service.
As I always do, I asked him to send me the same information
he would provide to an interested investor. -- It arrived the
next day by FedEx. -- Within an hour after I received the package,
he was back on the telephone asking if I had received the package
- and - if I knew an investor who would be willing to buy into
his company ... today!
Confirming that I had, indeed, received his package, I told
him I would call him back as soon as I had some time to review
the information.
After reviewing all of the information he had sent, it was
obvious to me that his company was perfect for the Small Corporate
Offering Registration (SCOR) program.
I won't go into any detail here but, under the S.E.C. approved
SCOR program, small companies can raise up to $1 Million per
year without going through the full-blown Initial Public Offering
registration. And, if the company is raising less than
$500 Thousand, the company doesn't even have to provide "audited"
financial statements.
Before I called my reader back, I did a little checking and
found two reputable promoters who were doing SCOR offerings.
-- When I called him, I gave him a brief overview of the SCOR
program and the names, addresses and telephone numbers of those
two promoters.
Within a couple hours after I talked with him, he was back
on the telephone with me. -- He had talked with both of the promoters
I had referred him to and had called back to tell me it would
take 3 or 4 months to put a SCOR program together for his business.
Then, he wanted to know ...
"Isn't there a faster way?"
Even after I explained to him that a SCOR program offering
was probably the best way to get the financing he needed ...
even if it did take 3 or 4 months ... he still insisted that
he needed a faster way. So ...
I told him that the only way I knew that might be faster,
would be to run a classified ad in the nearest metropolitan newspaper
seeking a Private Investor. -- I suggested
a possible ad ... one that has proven effective in the past ...
but warned him that it might take just as long (or longer) to
find an investor that way. Then again, he might just get
lucky and find an investor right away - but - if he didn't find
an investor within the next 30 days, he should go ahead with
the SCOR program.
He telephoned me last week ... after four months ... to tell
me that he had been "using my advice." He had
ran a classified ad in a number of nearby metropolitan newspapers
- but - he hadn't, yet, found the investor he needed. -- He just
wanted to know what he was doing wrong.
I had to bite my tongue to keep from biting his head off.
Believe it or don't ... he hadn't even realized that it had
been four months since our last conversation. He had taken
my advice about running a classified ad seeking a Private Investor
but, once he got started in that direction, he had completely
forgotten my advice about the SCOR program.
He had survived for four months without the funding he absolutely
needed right away. -- Had he followed by original advice about
the SCOR program, he probably would have already had his funding.
After our telephone conversation last week, he is going ahead
with the SCOR program ... four months late; with another 3 or
4 months to go.
See what I mean?
But, instances like that are in the minority. The majority
of the questions I field are about "marketing" ...
mailorder and otherwise.
At least once a week ... usually 4 or 5 times ... I am asked
for advice about "selling" a product or service.
When I am asked about marketing or advertising for any kind
of product or service, my first response is to direct the inquirer
to those "tried and proven" methods most commonly used
to sell that particular kind of product or service.
If, as is most often the case, the product or service is to
be sold by "mailorder," I recommend either a directed
mailing to a 'list' of people who have purchased a similar product
or service - or - a two-step campaign using a lead-generating
classified ad (or small display ad) in publications whose readers
either need or want the product or service being offered.
Then, of course, I explain that no matter what method they
choose to employ, they must ...
Test, TEST, Retest, and then Test Some More
... until they find the lists and/or publications that
work best for their particular product or service.
Sometimes, the inquirer actually gives me time enough to give
them a brief explanation of 'testing' methods.
Invariably, though, the final response is ...
"Isn't there a faster way?"
Or, over the past three years ...
"Wouldn't it be faster to use the Internet?"
My response is -- YES! -- there may well be "faster"
ways ... you might even find a way to use the Internet effectively
to market your wares - but - even that will required that you
test, retest and test some more, until you find something that
works for you.
Just like finding the right publications ... magazines, newspapers,
newsletters ... you will have to test, retest and test some more
until you find the websites whose readers either need or want
the product or service being offered.
All too often, the inquirer goes away disappointed or, worse
yet, they end the conversation with something like ...
"I thought you were supposed to know how to do it."
But, they don't know ... as you do ... that the ONLY thing
that separates the successful, professional marketers from the
willy-nilly amateurs is TESTING ... and testing takes time.
As a matter of fact, most of us don't really know any more than
you do ... we just keep on "testing" long after the
amateurs have quit.
Over the past 40 odd years (man and boy), I have observed
that very, very few people really 'fail' in business - but -
over 90% of them 'fail to succeed' in business. And, even
the majority of businesses that do achieve a modicum of success
... at least enough to pay the business owner more than a living
wage ... never reach anywhere near their potential.
Why? -- Because most business people ... not just beginners
... for reasons far beyond my ability to comprehend, will willingly
spend ten times more time looking for a 'shortcut,' than going
ahead and doing the job right the first time.
But ...
Every Business Success Happens Exactly The Same
Way
In every case, a successful business is built and grows when
the business owner ... after all the planning, testing, replanning,
retesting, planning some more, and testing some more ... finally
finds that one (just one) product, method, service, idea, or
technique, that produces a profit. Then, they just do the
same thing over and over and over ... again and again and again
... until they have made their fortune. -- It only takes ONE
successful idea ... duplicated over and over ... to get
rich.
It can happen to you in your business ...
You just have to survive until you find what works for you
- and - all you need to survive TODAY is Food, Clothing and Shelter.
Nothing else is necessary to your existence TODAY! -- So ...
How many days can you go without eating before you really
starve? -- How many days until you have to go naked, or sleep
under a railroad bridge?
Think About It!
Copyright - 2004, J.F. (Jim) Straw. All rights reserved.