Info on Business Bankruptcies - Chapter 11

Originally Posted by MichaelRoss

Kevin,

Thanks for mentioning GH.

While he did advocate a Starving Crowd he also said to "Sell to players with money". Are you sure... people who file for bankruptcy have the money available to buy whatever it is you are selling to them?

Michael Ross

On the face of it that sounds like a logical rule, but logic has little to do with sales. This group targeted customers who were the exact opposite of the rule.

Their customers were broke, facing foreclosure on their homes, and in many cases had already lost what little income they had. Even so, these customers were able to come up with $4,000 cash up front payments to the group. The group made millions of dollars over a couple of years, and every customer was dead broke.

Why? How? The customers were desperate and truly believed that the group had the solution to their problems.

Belief trumps logic every time.