How the State of the Union Speech Limits Your Business Income

How the State of the Union speech limits your Business Income

I must admit.  I watched less than 5 minutes of the State of the Union speech last evening.  I didn’t have to watch it.  I knew what the speech was going to address.

Problem – Problem – Problem – Problem.  Everywhere a problem.

The answer to these endless problems – Government has the answer.

But there’s a massive flaw in such belief that we depend on  others to Increase Your Business Income.  Can I give you a hint?  Our Congressional and government representatives are as clueless as the public in general.  Why would I say this?

May I give you an analogy?  Thank you.

Let’s say you want to get in shape – in fact, that was your top New Year’s Resolution less than a month ago.  So, you subscribe to a couple of magazines that are about fitness after picking up a sample at the local Barnes and Noble.  In addition, you purchase a couple of books that tell you what to eat and what not to eat. 

You begin to visit the health food and nutrition and exercise blogs and websites on a daily basis.  You subscribe to e-newletters from BeefCake.com and SexyAndFit.com (I just made these up – I don’t know if they exist).

You find a couple of meet-ups focused on healthy living.  And lastly, you become a distributor for that vitamin or nutritional drink company.

Six months later, you wonder why you aren’t in better shape than you had planned and you continue to carry most of the weight you were carrying at the beginning of the year.

Why?  You forgot ONE thing on the task and to-do list.  Implementation!!!  In other words, eating properly and exercising 4-5 times per week.

How Does this relate to the State of the Union speech and the limiting of your business income?  Simple.

You have the answers.  You are aware of what needs to be done in your business.  But, implementation is something you simply don’t seem to get around to.  You believe you always need more – more information, more insight, more thoughts, more government oversight and regulation, more hand-holding. 

As a friend of mine says, Ideas without Implementation are simply Mental Self-stimulation.  He says it in a more crass manner, but you get the idea (I hope).

Change does not require a State of the Union speech, another regulation or law.  Change is a result of implementing what you know you must do.  Time to implement.  Time for you to self-regulate your Business income.         

How Military Strategy Can Skyrocket Your Business Profits

How Military Strategy Can Skyrocket Your Business Profits

I was reminded of this this morning.  I was looking through a business-related social media site when I came across a request from a business owner.  A business owner was seeking wholesalers or retailers to team with him in selling additional product lines to retail outlets in his industry.

As you may recall, I am not a retailer or wholesaler.  I simply find under-used or unused opportunities that exist within a business and implement ways to turn these opportunities into additional streams of income.

Yet this business owner had a number of retailers in his industry who were very desirous of improving their cash flow and net income.  I offered my services.

Within 10 minutes of offering my services, this business owner had returned my email.  We had about a 10 minute discussion.  We agreed that I would provide my introductory product (entitled the 7 Fastest Ways to Increase Your Business in 7 days) to him for his review.  Should he find the information enlightening, he would recommend the system to his multi-thousand retailer contact base.

It was a nice morning.

SO MUCH for YOUR DAY… How does this story fit into YOUR business?

Simple – it’s a military mentality.

You see, think about what the military does.  When it is called into action, it first sends out the Navy.  The Navy positions itself near the opposing nation and begins to fire rounds.  In addition, the Navy has Navy aircraft attack with different types of weaponry.

The Air Force may get involved and use its arsenal for additional missions.  Finally, the Marines put men (and women) on the ground.  Last, the Army occupies the country.

It’s called Force Multiplier. 

Why does the military do this?  Because the military does not know exactly what method is going to work to win the battle or the war.

If I would have meandered along using one or two strategies (like most businesses do), I would have probably not been perusing the business-related social media site.  As a result, this prospect would have never been contacted.

How many force multiplier strategies are you using in your business? 

Is the Economy Really So Bad?

Is the Economy Really So Bad

I recently did a Google search to see how people made money throughout the 1930s.

Several people bought up undervalued stocks and held on as the stock value increased due to the public’s need for the company’s product or service.

Another one bought companies and leveraged their assets to grow the business (not necessarily financial assets, but the Goodwill, the value of their customer base, etc.)  This person went on to become one of the people who made the most wealth in during these years.

Some companies increased their advertising dollars – or advertised more effectively.  This strategy worked for Chevrolet as well as Kellogg’s during the 1930s.

In short, savvy investors and business people invested in similar companies and projects to what they currently do.

That brings me to the title of this writing – Is the Economy Really So Bad?

From a financial standpoint, considering the amount of debt we’ve created out of thin air over the past several years in comparison to the goods and services they represent, the supply and demand curve will demand to be satisfied with higher prices, a very slow economy and inflation.

From a building of character, I have a much more positive attitude. 

Yes, times were tough – and that is stating it mildly – in the Great Depression for many people.  

At the same time, the character and personal strength that was built by the Great Depression resulted in two countries primarily composed of farmers saving the world from the likes of Hitler, Mussolini and Tito. 

If the Roaring 20s had continued throughout the 1930s, would we have had the character and personal fortitude to fight those evil forces?  I would hope so!  Still, knowing that difficulties and hardship build character, it is an insightful question. 

My conclusion: Yes, we have built a difficult project we must work through.  It’s called the National debt (and the lack of individual responsibility).  Yet, this economy is going to build character, integrity and fortitude that will make the rest of the world sit up and admire American ingenuity once again.

What Is Truth?

What is Truth?

This is probably going to be the most controversial blog posting of the year.

I recently got into a debate with a friend over politics.  Yes, I know – never discuss religion or politics.  I do – but I discuss them not from an arguing point of view.  I like to discuss such things from a “gaining an  insight” point of view.   

It seems in so many subjects today we have so many view-points, that we can’t determine whether something is good or bad.  It just is.

Since my business is marketing – this seems especially true in this industry.  After all, what other industry can charge their customer $7 million per minute (2012 cost of Super Bowl’s on a per-minute basis) and the customer not expect or demand SOME type of return on their investment (sorry, since you are insisting that I not discuss politics, comparing this cost per minute is an unfair comparison – although government  goes into debt at a slower rate than the business expecting an immediate ROI on their Super Bowl ads).

It reminds me of a question spoke long ago, “What Is Truth?”

After all, if it’s impossible for you to monitor and analyze the return on investment on your Super Bowl advertising, why try on any of your advertising and marketing?  My personal opinion is that is why bran building gets so much press these days.  You can’t measure a ROI on your advertising, but ANY advertising is good advertising, from a name recognition point of view…

Taking to its conclusion, my brain has begun to recall the dot-com era of the late 1990s.  As I recall, one of the prevailing mindsets was that you could not determine the value of a business any longer simply by looking at its earnings times a multiplier.  We had reached a new era where such numbers no longer matter.

In other words, “Who cares what the truth is?”

Oh, how we wish those times had lasted.  Our stock portfolios would be worth so much more today.

Unfortunately, reality set in.  Truth, it seemed, had won out.

So, my question to you is, “Are you requiring the ROI on your marketing and advertising dollars to tell you the truth?”

How I Made over 300% ROI (without lifting an arm)

The year was 1986.  I was interacting with a family friend about some stock investments that were out-of-the-norm in the 1980s (gold stock).

Our family friend recommended that I purchase a gold stock called Vaal Reefs, as I recall the name.  I purchased about $5k in stock and continued on my daily activities at my position at Rockwell International.

Twelve or thirteen months later, the same friend called and noted that some political unrest in the country where Vaal Reefs was based suggested that I should sell my gold stock.  I approved the sale.  The gross sale amount - $16,000.

In other words, over a 12 month period, doing nothing, I made a 300% ROI.

Why do I tell you this?

To demonstrate such outlandish claims are not always too good to be true.  I didn’t do anything illegal.  I didn’t have any insider trading information.  I was not connected with anyone in political power in the United States or the country where Vaal Reefs operated.  I simply wrote a check and collected a check a year later.

What does this have to do with you?

The old saying goes, “If it’s too good to be true, it probably is.”  And I would agree that when investments and other aspects of your life seem too good to be true, they may be.  But, at least, if it peaks your interest, do your due diligence.

Why do I say this? 

I am the protégé of a Business Growth strategist who has taken one small business from $20,000 in sales to $10,000,000 in sales in 18 months.  He also took another business concern from $500,000 in sales to $300,000,000 in sales in 3 years.

If I am pressing the numbers on my calculator correctly, that equates to MORE than 300% ROI.

How did he do it? By leveraging assets within the business that the owners were not aware of. 

My mentor taught me the exact manner he does this.  And, if you wish, you can work with him (he’s $5,000 an hour; $50,000 a day).  Or you can receive the same at a fraction of that investment. 

I find overlooked opportunities within your business and turn these into windfall profits and additional streams of income.

Do your due diligence at www.TedLeithart.com

Help is on the Way

Help Is On the Way

I grew up in the golden age of television.  As I recall the Westerns and other shows I was allowed to watch growing up, the typical plot was someone in the show gets in trouble.  It didn’t matter what the situation was, the problem got more and more intense and difficult.

However, we could always depend on Lassie or the Lone Ranger or Batman to save the day.

In other words, the theme running continually on these shows were that you have more assets at your disposal than you realize.  Another continuing theme was “Hope springs eternal.”

And, of course, good always wins out in the end.

This morning I was discussing some needs a potential client had in his business.  By the end of the conversation, I recognized the theme of the conversation was the same as the television shows I grew up with.  Interestingly enough, my potential client is assisting me in other areas.

This theme needs to be emphasized, especially in lieu of the world economy and world politics. 

All you have to say is “I need help!” 

Several years ago, a customer commented to me “I need help!”  By the end of our relationship, this customer was in a much better position than he was when he initially asked for help.  And this help was given to him without expecting to be compensated.

I love making money, but money is simply a measure of how much value you gave to the other person.

It all has to do with mindset.  Rest assured – and be positive.  Because Help is on the way.

Beat Your Largest Competitors - Everyday!

In yesterday’s blot posting, I commented on how extraordinary customer service led to building a loyal customer base.  I gave several examples of this as well.

This morning I received an email to survey a couple of businesses and to prepare a proposal for the business.  I had a little time and was in the area of one of these referrals, and so I stopped in to observe the business (not to introduce myself as the consultant that was here to help the business owner).

I also surveyed 4 of the business’ direct competitors located within one mile of his location.  

What did I come away with?

Same, same, same, same…

Same products – same level of service – similar pricing.

Nothing to set one business apart from another.  No wonder the business is not thriving!

That’s what my employees offered by building friendships and having conversations with our customer base.  A difference!

You see, your competitors – especially the national chains in your industry – can carry the same products that you do.  They can have the same pricing as you, possibly a bit less. 

The one thing that can’t copy is YOU.

You are the business.  You are the difference.  You are the reason your customers buy your services or products.

And that is something the national chains don’t do well.

For starters, it’s not kosher or corporate to act in a friendly manner.  It’s too unprofessional. 

You can come across as a stoic or as a personality.  Sam Walton was a personality but the C-level officers at his company are a stoic commodity (or come off as such).  Dave Thomas (of Wendy’s Hamburgers) was a personality.  His successors have yet to realize this and Wendy’s has suffered due to the stoic, corporate approach.

The people who come across as having a personality win!  The biggest example of this is Jesus Christ versus the Pharisees of the day. 

What can you do to let your personality shine?

Increase Your Sales by 25-100%.  Visit my website, www.TedLeithart.com