Business Lyceum

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


Editor/Publisher:  J.F. (Jim) Straw

OCTOBER 2003


 Greetings & Salutations:

Some time back, one of my e-Letter subscribers sent me an email that said ...

"Please remove me from your list.  I don't want to know about how to do business, I just want to make some money."

There are only two ways to make money ... you either have a job working for someone else, or you have a "business"of your own working for yourself.  There is NO in-between.

I think I just heard a Multi-Level Marketer exclaim, "Yes there is an in-between.  That's what MLM is for."-- Wanna bet? -- You may be "in-between"but the heavy-hitters are "in business"... that's what makes them heavy hitters.

Why is that so hard to grasp? -- Why do people think they can "make money"WITHOUT having a job working for someone else, or a "business"of their own working for themselves?  (If you find an answer, let me know.  It has puzzled me no-end for many, many years.)

 Did you notice that I used the word "working?"

When you take a job working for someone else, your employer sets the days and hours you will work; gives you a place where you will work; and assigns the tasks you are required to accomplish to keep your job. -- But ...

When most people decide to "make money"(without having a job) ... in a "business"of their own (whether they realize it or not) ... they work when they can or when they want to ... they work wherever they happen to be when the urge hits them ... and they do whatever strikes their fancy, arouses their interest, sparks their curiosity, or appears to need to be done at the moment. -- Then, they wonder why they didn't make the gazillions of dollars they assumed they would ... over night (of course). -- SO ...

If you cannot, or will not, admit (at least to yourself) that you are "in business"... but you still want to make some money ... GET A JOB. -- There ain't any other way.

Having finally come to the realization ... and admitted to yourself ...  that YOU are "in business"you must read, study and absorb everything and anything you can about doing business ... management, accounting, marketing, etc., etc., etc. -- NO, not just "Internet Marketing"or "Affiliate Marketing,"everything and anything about doing business ... from small home-based business, to corporate structure.

By adopting and adapting business applications and techniques from other businesses, you have an opportunity to become really successful and profitable in a business of your own.

Many, many years ago, I read about a marketing technique that was very commonplace in another industry. -- I thought little of it until, late one night, I was hit by a bolt of idea-lightening ... "why not adopt and adapt that marketing idea to my business."

Guess what? -- After I adapted the marketing idea and put it into practice, I was applauded by my contemporaries as having revolutionized the industry.  In fact, all I had done was taken a marketing method that was very commonplace in another industry and applied it to my business.

Hey, I heard you ... someone just said, "I ain't gonna spend all my time studying doing business; adopting and adapting, when I gotta do what I gotta do just to make a living."

Answer me this, "How long have you been just making a living?  Is that all you want to do is "make a living'?"-- If that's all you want to do, keep doing what you've been doing to make a living.  But, if your goal is beyond just making a living, you will find the time to learn what you need to learn.

If you keep on doing what you've been doing, you'll keep on getting what you've been getting.

Einstein once said that "anyone can be a genius."  He advised that any person, by studying any one subject for just 15 minutes a day, would in time be a "genius"in that subject. -- Are you smarter than Einstein?

Oops!  Just heard someone say, "I ain't gonna buy all those books about business.  I can't afford it."

Growing up on poor dirt farms in Oklahoma, Missouri and Kansas, I didn't have any money to buy books about business and making money either - but - I discovered the local Public Library.  Within those walls, shrouded in silence, I read, studied and absorbed everything I could find about doing business and making money. -- The same resource is available to you AND there are even sites on the Internet where you can read about doing business and making money without spending a penny. -- It just COSTS you time ... time you would otherwise spend living from paycheck to paycheck.

Just set aside one day each month to scour the shelves at your local Public Library and check-out the books you find ... or search the web for business books you can read online. -- Then, spend just 15 minutes each day ... maybe on your lunch break ... studying "how"business really works.

Myself, when I begin studying a subject, I start with the dictionary to learn the meanings of the words relating to that subject.  Then, I use a thesaurus to find related words; which I also look-up in the dictionary.  Next, I look-up the same words in the encyclopedias. -- After that, I study any grammar school, high school and college textbooks on the subject, followed by the books referred to in the encyclopedias and the textbooks.

Throughout my reading, I rely heavily upon the "Glossary"of the books ... if there is one ... in order to learn the meanings of the words used in context with the subject I am studying.  (A "Glossary"is really just a dictionary of the words used in the book.)

I follow that same sequence, even when I think I already know the basics of the subject.

Want to try it yourself? -- I suggest you begin with the words "Advertising,""Marketing"and "Sales."-- I'll bet you'll learn some things you didn't know ... even from just the dictionary meanings; before you even get to the encyclopedias.

If you don't really want to escape from your paycheck to paycheck existence ... just GET A SECOND JOB. -- You won't have to come out of your comfort zone to do that.

Of course, even as you begin studying the doing of business, you need to go ahead with your "Business"... whatever it might be ... by setting it up as a "business"just as though you were getting another job.

Establish the days and hours you will work. -- You will be working for the best boss in the world ... yourself ... but, just as any other boss does, you MUST have a specific time for your best employee ... you ... to work.  Be fair but make it an absolute requirement that your employee be "on the job"at those times ... with exceptions for special occasions, emergencies, etc., just as any other good boss would.

It doesn't matter whether you establish 2 hours each evening; Monday thru Friday ... or 1 hour each evening; Monday, Wednesday and Friday ... or, 6 hours each evening; Monday thru Saturday ... it MUST be specific hours.

Don't say, "I'll work 2 hours each evening."-- Instead, set specific hours to accomplish your work ... say, "I will work from 6 p.m. to 8 p.m., each evening."  That way, you will KNOW when you are supposed to be at work and when your work day will end.  (No fudging.)

With time ... as your Business grows ... you might be able to set your hours like mine.  I work from 9 a.m. to 3 p.m.; Monday thru Friday.  Sometimes I come to work a little early or stay a little late - but - unless there is a special occasion, emergency, or whatever, I am "at work"from 9 a.m. to 3 p.m.  (My boss ... he's a great guy ... understands those special situations.)

Give your best employee a specific work place ... demand that your employee keep their work tools in that area AND that other projects not related to the business be relegated to some other area. --You wouldn't go to work in a machine shop with a television sitting next to your lathe (a good way to lose some fingers), would you? -- Be as adamant about maintaining your work area as any other boss would.

The ONLY things you should have in your work area ... whether it is the corner of your bedroom, or a separate room, or a rented space across town ... are the things you need to do your business. -- If it doesn't relate directly to your doing of business, it should be put somewhere else ... even if that somewhere else is just across the room on top of the TV; which is never on during your business hours.

Assign your best employee a series of tasks that must be performed each time that employee enters the work area ... at first, you might have to write down a list of things that MUST be done first, before anything else, upon entering the work area.  After a while, it will become almost instantaneous.

When your best employee ... you ... has completed ALL of the mundane, but required, tasks, only then may your employee move on to further assigned tasks in order to build the business.

But, since the boss and your best employee are so closely related, where do those further assigned tasks come from?

Here's how I do it for my best employee ...

Any time I come across something I think will increase my business ... in any way; even by adopting and adapting it ... I grab a yellow sticky-note from the pad on my desk and make a note to myself about what I need to do or investigate to check it out ... then I stick the note along the edge of my desk.

I also keep note pads everywhere ... on my bed side table, next to my recliner, in the car, by the telephone, in the bathroom.  When an idea flashes across my itty-bitty brain; rather than forget it, I jot it down.  I collect those notes and take them to my desk; where I transcribe them to yellow sticky-notes.

Each of those sticky-notes get stuck on my desk, until I have a chance to do them. -- Once they are done, that note goes in the round file so I don't inadvertently redo things I have already done.

The one big thing you MUST keep uppermost in your mind is that, when you are in your work area; during your specified work period, you must complete your "required, daily"work duties, before you move on AND you must NOT leave your work area until the end of your specified work period ... even if you have nothing more on your list to do.  Spend the time searching for new ideas, or reading a report, book or article specific to the accomplishment of your business.

Once you have established your specific work hours, given yourself a place dedicated to doing your work, and began creating your lists of assignments, you will be far ahead of the 98% of small businesses that will fail this year.

REMEMBER:  Your work area is for working and your work period is for working - to do otherwise would violate your boss' trust ... even if the boss won't fire you.


Now, let's do some ...

Questions & Answers, Comments & Other Good Stuff!

David Brueckner was  looking for a market  ...

"I would like to have your expert ideas on marketing my taxidermy services in upper Illinois and Wisconsin.  Much of my work I can ship & some I can not (too breakable).  Wild game birds I can not sell to the public (Federal Laws) but many other types of animals I can, like deer heads.  I can buy pen raised mallards and sell to the public. I have never had an unhappy customer. How do I tell & sell more."

David:

If I were doing it, I would check out all the publications going to home decorators.  See what kind of ads they have.  Find one of the big advertisers selling home decorating items & contact them about selling your mounted animals for you ... you should be able to fetch some BIG prices for them since they are 'real' not plastic.

Another idea ... check out the publications going to Photographers.  The photographers always need props for their photo shoots ... many of them would probably buy your mounted animals but some of them may even want to  "rent" them for short periods for special photo shoots. -- You might also find a dealer in the photography magazines.


 Richard Curry, Jr. needed to know...

"I have both of your courses ... 'Finder's Fees' and 'Sell American.'   Some of the best and practical knowledge I have ever bought.    I am in the process of using that information and making it work.  I do have some questions. -- In your 'Sell American' course, on page 54, you mentioned that you negotiated an 'Exclusive' export sales contract with a manufacturer.   Is this the same type of agreement that the late Joe Cossman referred to? -- I've read some of his advice and he always mentioned about getting the exclusive rights to products, saying that there are so many ways to sell products that getting the exclusive rights in any one of seventeen ways  (whether mail order or exporting),  is a great way to go.  Are you referring to such a way when talking about exporting?  -- I guess another question to add would be:  Considering the technology and marketing methods that companies have today, is it still possible for someone like myself (An Independent), to obtain such rights to any of the many marketing methods for a Manufacturer that you and Mr. Cossman refer to?"

Richard:

Yes ... it is almost exactly the same as what Joe taught ... see the January, 2000, issue of my e-Letter for more details ...
Jan00.html -- that's why Joe Cossman and I became such good friends over the years.

We both taught "how it is really done" materials from our own personal experiences and, because the truth is always the truth, we were very often compared to each other.

Just because the marketing  technology exists doesn't mean that the companies who could use it even know about it ... or, if they know about it, how to do  it.

Yes ... the business community  will ALWAYS welcome another effective & productive marketer.


Tom Leous was on the horns of an ages old dilemma ...

"As one steeped in successful direct response marketing, both off & online, I'd appreciate your comments/insight & wisdom.  I'm new to online ecommerce, but spent 24 yrs in business, lastly running an agent referral program for a major telecom firm.  Having been involved with the 'Net in business, and having used it to help deliver services as well, after being displaced, I decided to use it to my personal benefit.  Based on advice from 2 'net leading lights ... Cory Rudl & Ken Evoy, + comments I've seen other places, I decided to go the information route.  I've recently written a 175p 'how to' ebook on planning & successfully launching a homebased business.  Certainly, not a new topic, but I focused on compiling hi-quality, in-depth info on this aspect, avoiding the crowded Net Mktg arena.  Plus I saw a real need there, as the ebooks I'd bought and seen seemed to lack a lot of good 'how to' details, preferring instead to talk about what to do.  I based the ebook on my years in business and also my experiences the past year working to get my own venture off the ground.  I'd appreciate your comments on how I'm going about the promotion aspects: (1). Targeted Ezine ads - top sponsor & solo (in process) -- (2). Writing articles for submission to ezines that accept fresh outside content. -- (3). Joint venture promotion with targeted zines/NL's. -- (4). Link Popularity - acquiring targeted partners to link to my site. -- (5). Getting my ebook listed with sites like Clickbank, download.com, etc. to increase exposure. -- (6). Starting a free newsletter. -- (7). SEO (already done -awaiting results). -- (8). Free classified ads - (using automated software, but have seen zero results so far). -- (9). Press releases. -- (10). Select affiliate program promotion."


Tom:

Hate to burst your bubble - but - EVERYTHING works & NOTHING works ... as in any other business.

I do wish I had simple answers for you but,  it's like asking "Who is the most beautiful woman  in the world?" -- The answer is totally subjective ...  depending upon who's looking.

The only way you can determine whether or not any advertising method or medium will work for YOU is by testing, Testing, TESTING ... then, testing some more.  Keep doing the things that work for your offers ... then, re-test the ones that didn't work to see if you can make them work for you.

All of the methods work ... but not all of them will work for you. -- You'll never know until you test.


John Broughton was caught betwixt & between ...

"As a long time customer of yours I am confidant you can direct me in the right direction for this project. -- Earlier in the year I encouraged my older brother Dave to write a book and I would market it for him using free publicity and press releases.  He took me up on the offer and he is nearing completion of his book.  Dave is an architectural engineer with a vast knowledge of pipeline design for Dupont and the like.  He designs churches for different people.  He also ran a concrete testing company and has a good knowledge of concrete so he choose concrete to write about in his book.  My questions to you begin:   Should his book, 'How To Make Perfect Concrete Every Time' be set up as an e-book?  a handbook?  a hardback book? -- The book can be sold worldwide because of its subject. -- Should I self publish it or would it be just as profitable to sell the rights to the book to a publisher of these kind of books?"

John:

It depends upon how hard you want to work, how much you know about marketing the book, how well defined your potential customer niche is ... lots of things.

If you self-publish, you will make more money on each sale - but - your sales may be limited if you are unable to reach your niche market in any great quantity.

On the other hand, you will earn less on each sale if you get a recognized publisher to publish the book - but - finding a publisher who will see a potential in the book great enough to justify publication and distribution may present a big problem. -- By the by, a  publisher will NOT buy the rights to the book.  If they publish it, they will only pay royalties on  sales  made.

Might be a good idea to self-publish some few copies ... maybe 100 to 500 copies (they will cost more but you won't have to try to eat them if they don't sell).  Then, do  some test marketing to see if you can reach those very specific people who need to know about making perfect concrete.

If your tests prove successful., then you may want to contact a publisher about publishing the book.

Either way ... it ain't as easy as it seems.  I should know, I've been doing it for over 30 years. -- BUT...

There is another way. -- Find a major "cement" manufacturer.  Let them read the manuscript.  See if, maybe, they would want to self-publish  it for their customers and as an advertising tool to sell  more cement.


Gary Graham was puzzled ...

"This isn't a question to try and stump you, but rather to get your opinion on something. -- As you know, you can buy ebooks and other items with what are generally called 'Resell Rights' or 'Master Resell Rights.' -- What I would like to know, if you purchase one of these type items and wish to resell it, and the original author has said that you cannot sell it for less than a certain price, would this then be called 'Price Fixing' which to my limited knowledge is unlawful and therefore would make his saying that you had to sell it for a certain price no longer valid?"

Gary:

"Price Fixing" is relegated to the purchase & resale of products. -- In other  words, if  you "buy" a product at wholesale for resale, you may sell it for any price you want ... the manufacturer or wholesaler from whom you purchased the  product for resale may not "fix" the price at which the product must be sold. - BUT ...

In the case  of "Resale Rights," you are purchasing a "right" under a "contract" which may have any restrictions the seller wants to include.  When you buy the "rights," you are agreeing to the terms of the "contract" ... as long  as you are aware of the conditions of the contract prior to purchase.


Juliet was looking for a way ...

"I'm looking for a source of products that I can buy at wholesale and resell without ordering bulk quantities all at once. -- One of the web sites I've visited seems to provide a solution for me since they don't require purchase of large quantities.  When one becomes a member for free, one gets a free website and log into the back office to order products at wholesale prices. -- They offer free membership, or paid at $10 per month or $50 per month, and one starts getting commissions from hosting fees and a portion of sales made by people who sign up and order products. -- I was wondering what you think of this concept.  Can you look at the website and let me know what you think of their concept and the  products that are offered there."

No, Juliet ...

I do NOT think it is a good idea.

If you want to sell products without having to buy them first,  do a search for "Drop Ship Products" ... or, just "Drop Ship" ... on the Internet.

As a drop ship dealer, you sell the product, then you send the order along with the wholesale cost to the  drop  shipper who, in turn, ships the  product directly to your customer.

You should never have to pay anyone for the opportunity to sell their products for them.


Tony Halun needed to know ...

"I have a question about selling at outdoor flea markets.  Not small ones, I mean those real big ones where you can find almost anything. -- I've heard some good stories lately of people doing real well at these markets. -- I can sure use some extra income. -- Do you think this is a good idea? -- If so do you know where I can buy cutting edge wholesale goods."

Yes, Tony  ...

Selling at Flea Markets is a very good business.

To find local sources of wholesale  products, just look in your Yellow Pages ... "Distributors" "Wholesalers" etc.

You  can also find  a world of products by doing a search for "Flea Market Products" on the Internet.


Al Paskie found a bunch ...

"I came upon a close-out of 'Christmas Bears' being offered for $3 each.  The price is right but I am having a challenge coming up with a clear idea on how to market them in a creative way for the holiday season."

Al:

No need trying to do anything fancy ... just take them to your local Flea Market ... set up a table & sell'em.

Teddy Bears are always a big seller ... especially around the holidays.  You'll probably sell out before the end of the day.


When it comes to marketing with Press Releases, this contact has it all together.

She got over 6,000 orders (at $9 each) for her "JetScream Whistle"from (2) Press Releases alone ... with about 4,000 orders for her "AirWedge Filters"(with re-orders coming in daily) using (1 more) Press Release.

But ... but ... but ... like the rest of us, she can't be in more than one place at once - so - she is looking for aggressive entrepreneurs who would be willing to submit her tried & proven Press Releases to local & regional publications across the country.  Then, when you start receiving the orders ... which you will since the Press Releases have already been proven to pull orders ... she will Drop Ship the products to your customers for you.

Ain't it wonderful.  Using the tried & proven Press Releases, you have NO advertising costs but they produce orders like crazy.

One little problem though, she doesn't have the time to be bothered with curiosity seekers - SO - if you are truly interested in pursuing the tried & proven program, you'll have to put up a look-see fee of $200.  Then, if you decide to pursue the program, she will give you credit for the $200 against your orders - or - if you decide NOT to pursue the program, she'll refund your $200 less the cost of any materials you don't return.

Sounds more than fair to me.  Where else can you get in on someone else's proven success ... without paying for any advertising. -- Check it out, today. -- Contact:

SUSAN BLAIR, Blair Enterprises of Florida, 10237 Blossom Lake Dr., Seminole, FL  33772 -- (727) 397-6601 -- FAX:  (727) 394-1661 -- OnLine:  http://www.BlairEnterprises.net


Deneen Zehr was  in a quandary ...

"I'm interested in starting a health newsletter.  Except for my personal experiences that I'll be sharing, most of the information I wish to relay to my mailing list will be coming from other sources (i.e., other newsletters, health magazines, product brochures, etc.) -- How do I go about placing the information from these articles into my newsletter without plagiarizing?  I remember writing book reports in high school and you had to list your sources in the back of your report or on the bottom of the page where the reference occurs.  Do you have to do the same thing in online newsletters?"

Yes,  Deneen ...

Any time you use direct quotes from a copyrighted source (from online, offline or wherever), you MUST state the source ... or, you  might end up with a copyright infringement suit.  BUT ...

Listing your source also has an advantage. -- You can sometimes get the source to quote you in their publication with your credits ... or you might  get them to swap ads, or whatever.

It works both ways.


Leroy didn't know where to start ...

"I want to start a record label/production/publishing company.  I don't know where to start, or who talk to.  Have any ideas?"

Leroy:

It really isn't that complicated ... just select a name for your company/record label.

Find a recording studio in your area.  ASK them about cutting your records/tapes/CDs ... copyrighting ... labeling, etc.  They should be able to steer you in the right  directions.

Then, go about finding the artists you are going to work with ... hire the studio to do the recording.


Eliahu needed to know "where  to" ...

"I am from Israel. -- How can I get a DEBIT card from an American bank? -- I am not an American citizen and I do not have a SSN. --  What should I do? -- What bank can do it for me do you know?"


Eliahu:

A "debit card" only draws against the balance in your checking account - so ... all you have to do is open a checking account with a bank in the U.S. (best be one of the big ones).  After the account is open, ASK for a debit card on the account.  Of course, you will have to have enough money in the account to justify the card ... probably $5,000 or more.

As a foreign national, you do not need a Social Security Number.

The best bank I have found for international dealings is CitiBank ... they have a web site at:

http://www.citibank.com

When you go to their web site, on the right hand side  there is a place to select your country. -- I selected Israel but couldn't read the Hebrew writing.


Jim Pitre was looking for a franchise ...

"I am looking for information on opening a tool store in Texas. -- Any help or information would greatly be appreciated. -- I am having a hard time finding a franchise for this category."

Jim:

There are tons of tool franchises out there.

I just did two searches ... one for "hand tools franchises" ... another for "power tools franchises" ... and found more than I could ever begin  to investigate.

Do the searches to find what you're looking  for.


Allan Zufall was seeking a road to travel...

"I'm going to be 20 this month on the 20th and I still don't really know what I'm going to do with my life so I'm going to ask you a question. -- What would you do to make money if you were me?  I would like to know what business is the best to get into as far as making good money."

Allan:

Who is the most beautiful woman in the world?? -- Depends upon who's looking, doesn't it.

It's all in the eye of the beholder.

There are very, very few opportunities that couldn't be the "best" for someone.  It is all a matter of persistence.

Look around you.  There are millionaires in every field of business endeavor.  There are millionaire garbage collectors ... millionaire bankers ... millionaire shop keepers ... millionaire day-care operators ... millionaire internet marketers ... etc., etc., etc.

As Albert Einstein said, "Anyone can be a genius, if they pick just one specific subject and study it diligently just 15 minutes each day."

The same holds true in business. -- Just pick one specific business. Do it every day until you do it successfully.

Most people don't fail, they just fail to stick with any ONE thing until they have mastered it.

As Benjamin Disraeli said, "The secret to success is the constancy of purpose."

What would be "best" for me ... since I have a very high risk threshold ... wouldn't be the "best" for anyone seeking any kind of security; or privacy.

To succeed in business, you must leave your comfort zone and tread into untried waters ... willing to take the risks.


You may have heard about the new book ...

"Strike It Niche!"

Well ...  I haven't had a chance to read it,  yet - but - Kim Thomas has done a review of it on her web site.

Check it out if you're interested.

http://www.kim-thomas.com/successproducts/strikeitniche


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!

"The average person puts only 25% of his energy and ability into his work. The world takes off its hat to those who put in more than 50% of their capacity, and stands on its head for those few and far between souls who devote 100%."-- Andrew Carnegie

"The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools."-- Confucius


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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