Profits from Prophet

by | May 6, 2003 | Archives

One of the hardest parts of starting a business is getting started. This is a lesson I have learned from thirty five years of advising people on how to start their own business. Many people have a great idea or more importantly a great desire, but they just talk and talk, plan and plan, and the business never comes to fruitions.

Here are several hints that can help you overcome this obstacle.

Hint #1: Start small. Everything else in the universe begins at a baby stage and grows. Why think that a business should be different? Begin modestly and make every asset you have count. Use a band-aid approach in the beginning and make mistakes while you are small. The importance of this is explained in the book “The Tipping Point” by Malcolm Gladwell.

Hint #2: Forget the structure. Part of starting small is to avoid spending capital on structures you may not need. Begin as a sole proprietorship. If you have losses in the beginning you may be able to write them off against personal income. You save time and expense and can set up an appropriate legal and financial structure once the business is generating income.

Hint #3: Don't get caught up in knowing everything before you start. We cannot know it all, ever. Our understanding of the market place will always be imperfect. If we fail to start until we know everything, we will never begin. The market place is always changing anyhow. By the time we learn how to build a perfect business, the knowledge we gain will be out of date. Plus knowledge gained in theory differs greatly from knowledge gained in action. There is an ancient Arabic saying that every action has two types of profits, material profits (or loss) and profits of understanding. The understanding we gain from action, from trying, from learning and from trying again and again is the business prophet we can trust.

Jump in feet first, not over your head but near enough that you have to get in the flow. Then follow the learning curve and grow. This is a good (and often exciting) way to start a business.

Until next message, may your starts be true and good.


Work 30 days and Earn $100,000 Bucks!

Merri and I have put on eight to ten three day seminars or courses each year for the past 20 years. That's about 30 days work and this process increases our income between $100,000 and $300,000 a year.

This is why we will focus on how to develop seminars, courses and tours as business or to increase business at our upcoming International Business Made EZ course. Let me be honest. Putting on a seminar is not all that easy if you don't know what to do. Yet when you have the keys, this can be a magical way to earn income or expand an existing business. This can also be a way to create a truly global income that earns for you wherever you want to go.

Merri and I have repeated this process again and again. For years we loved visiting Austria and Switzerland so we developed courses built around Swiss real estate and Viennese banking. Then we fell in love with the Dominican Republic and put on seminars there that earned enough extra income to buy us a gorgeous three bed room condo on a glorious Dominican beach.

Ecuador came into our lives and we have taken thousands of people there. You might say we are paid to be in the places we love. The course will be conducted Friday, Saturday and Sunday June 6-7-8, at our 292 acre Blue Ridge farm (also paid for from seminars and courses).

This course covers every aspect of how to build you own business with a focus on using seminars (either as a product or marketing tool) and writing (also as a product or marketing tool).

The combination of writing and seminars is especially potent. I explain why below.

The power of magic and $422,000,000!

The importance of writing in your business can be more than magical. The April 28th edition of USA Today stated that J.K. Rowling is now wealthier than the Queen of England. Her wealth is estimated at $422 million, all because of magic and the national psyche! Yet just a few years ago she sat in the same coffee shop that Merri and I frequented when in Edinburgh and perhaps she wondered how she would pay her next month's rent. How quickly one's fortunes can change when you add in writing skills and tapping into the national psyche!

Rowling is a good writer, but there are plenty of others, far more famous but with a lot less cash. Her special contribution to society is that she tapped into society's need for more magic in the high stress lives we lead today.

Yet never forget, Rowling missed her market completely. She wrote Harry Potter books for kids! This is not where the market grew and her success surprised her as much as I image it did her publishers.

We can learn how to do something similar (though I cannot promise to such a great degree). We do not have to write a lengthy tome or have a complicated business either to become rich.

Spencer Johnson, M.D. for example wrote a tiny, book. His publishers had to really stretch to get 94 pages by sticking in a huge forward, using oversized lettering, adding lots of wide spaces, leaving many pages half blank and throwing in a batch of unnecessary line drawings that take up a page apiece. Otherwise, tightly worded, this book could have been a short 16 or 24 page report. The little book has an unlikely story comparing two mice and a couple of stupid guys with the simple moral, “Embrace change”. Yet if you have looked at the top ten best selling book lists over the past several years, you know the book has remained and remained on that best selling list. “Who Moved my Cheese”, to the best of my reckoning, is a tiny, simple book which sells for $19.95 that has brought in somewhere in the region of $500 million in sales and has earned Johnson tens of millions of dollars in royalties.

The point? We should have our own businesses and should use the published word to create products or sales. I believe this as this simple formula has earned me millions of extra income and brought me material wealth I would never have envisioned.

Ms. Rowling and Martha Stewart are two of the richest women in the world and both began their rise though the printed word.

We cover how to use writing in business and how to tap the national psyche in our upcoming course International Business Made EZ this June 6-7-8 at Merri's and my 292 acre farm in North Carolina. (Which by the way we own free and clear without a penny of debt through royalties we have earned through writing in and for business). Won't you join us here? To sign up go to our secure shopping cart.