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#1
May 9, 2016, 12:10 PM
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Re: Chemicals and Specialty Products are still golden.
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Also, thanks Gordon for the Sherman Hunter link, I just signed up! There are answers to these questions, but the principles are actually the same, whether it's applied to injection molds, copyrighted books, patented products, exclusive distribution contracts, or whatever toll position you choose... Once you understand the principles, you can apply it to all these things... Best wishes,  Dien
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#2
May 9, 2016, 01:02 PM
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Yahoo as a "distressed" business, much like AOL was
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Sherman Hunter specializes in "distressed businesses", which are in great abundance. I think of them as another form of "stored value". Be it a behemoth like AOL or YAHOO, or a momma and poppa beer joint down the block... there are many reasons for the distress...many times aging has to do with it, growth to a leveling off, retirement or death of founders... lots and lots of reasons. With a creative approach, and often just a piece of paper, one can take ownership of proprietary properties, real estate, goodwill, list of customers, etc. etc. and be an "overnight Entrepreneur". Dien, your recent foray into the African (you did attack with great gusto, eh? HA!)...importing marketplace dealt with both stored value and distressed merchandise. Sherman Hunter had a decade long partnership with Harvey Brody, as a computer guy and a hand in the publishing business... so, when you read Hunter's stuff, you'll see a lot of Brody like lingo in there. Taking over a distressed business is akin to finding the stored value in molds, dies, tool, and all other rusting in the corner ASSETS. I've written about Tiny the tow truck driver who took over a business with the profits the business was already making. Today, there are many baby boomer owners, with a desire to retire, but don't want to pay the taxes an outright sale would cause... so they are amenable to an "out of profits" buy out, often structured like a land contract deal... Sherman Hunter hooks people up, as well as teaches some of the fundamental principles which were shared in the chain, which was Harvey working with Joe Cossman on a per diem basis and learning and growing, and Sherman working with Harvey... I believe this Toll Position/Stored Value/Distressed Business model to be known to less than 5% of people seeking either a business or financial freedom...yet, combined, they may be some of the most powerful strategies for gaining an unassailable fortress of freedom. Gordon
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#3
May 10, 2016, 03:21 AM
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Re: Dien, what other concepts has Harvey Brody shared with you?
Thank you again Dien & Gordon.
Which of the Harvey Brody Course's would you definitely seek out to compliment E Joseph Cossman's Course? I believe Harvey had several versions! Btw, Harvey considered E Joseph Cossman a marketing genius & said he learned from him too.
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#4
May 10, 2016, 08:12 AM
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He learned from working with Cossman.
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I'm not sure I would seek Harvey's stuff, but, if you have the original TOLL Position course, you'll pick up a lot of stuff. I love Harvey and Joe and all the OLD Masters. You can't have too much of a good thing. Both men's material was written decades ago. Several years ago I posted a list of people to study today re: LICENSING and such. One place to start is at hardtofindseminars and listen to a few of those interviews Mike has done over there. Take a look and see what interests you. Today, knowing what I know, it is my opinion that you would want to follow what Sherman Hunter is doing...since he incorporates both Brody and Cossman concepts and is more current. https://sdkhunter.com/ Start by reading the blog posts, sign up if you want, it is FREE. And you may get all the information you need to pursue these soft of business opportunities. To me, it just makes sense to study current concepts which are being used on a daily basis rather than studying historical stuff. It is sort of like me telling people to get Melvin Powers' mailorder course...when there are Internet Marketers killing it. But, if you have the dough and the time, then the course with the orange covers might be a good starting point. Gordon Jay PS. When I was doing the Ben Suarez/Harvey Brody thing, I was under contract, and paid well for my efforts...however, I do not have permission nor want it at this point to reveal what I had written, which would have been updates to both Ben's NPGS formula and Harvey's Toll position. Alas, that rug got pulled out from under my feet. But, the good news for all of us today, there are people like Sherman Hunter who had direct working experience with legends like Harvey Brody (10 years with Harvey)...and others, which I will name later. Maybe someone has the list I posted a few years ago, I remember Harvey Reese was on the list for Licensing deals. And NOLO too.
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#5
May 10, 2016, 08:49 AM
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What to get of Harvey's stuff, and more...
Hi AscendedMind and Gordon,
Harvey Brody produced a number of courses and reports over the years... Generally from the early 1970s to the early 1980s... If you can, get them all! (I have all the ones I could get my hands on, but I haven't read them all yet.) I'd start with his original course, though: "How to Become Financially and Personally Independent." The full course is 5 books - "Parts 1 & 2," "Part 3, Section 1," "Part 3, Section 2," "Special Bonus Section 1: The Acceleration Approach," and "Special Bonus Section 2: Creation." (I mention that, because sometimes people don't sell complete sets of the books.) It gives you the foundation, and is actually a fun read, too. Very inspirational, as well as educational! Gordon wrote: Quote:
http://www.sowpub.com/forum/showthread.php?p=26801 Quote:
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Dien
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#6
May 10, 2016, 04:45 PM
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Broadstroke overview.
General...with many exceptions to these guidelines.
Joe Cossman liked consumer products; ant farm, etc. Watch his video and see it is old and those featured had consumer products. Harvey Brody likes industrial/mfgr; molds, formulae, etc. Although he has two big selling consumer products, Zoom Spout and Pistol Grip. Harvey Reese likes Intellectual Property. All share certain strategies, like a TOLL POSITION and CONTROL of a product or asset. They also share a need for TIME, rarely a deal is struck quickly and months and even years, sometimes are needed. It requires patience. There is no one size template to suit everyone. Pick what you think is best. Sherman Hunter also incorporates the TOLL Position, and he liked PUBLISHING products, the ol, paper and ink. Which also require TIME and even though they all might say, "without money"... be prepared to hire a good patent/protection attorney and a good INSURANCE agent who specializes in patent protection...neither are cheap and doubtful you'll find one to work on spec. But, maybe? The OVERNIGHT ENTREPRENEUR method by Sherman Hunter is by far and away the FASTEST QUICKEST strategy in all their tool boxes. One drawback is getting a business where you need to be involved in...EXAMPLES A shoe repair shop (all leather items; purses, shoes and briefcases) is a skilled trade... A guy selling his shop has to have someone trained or you have to learn how to do it. Whereas, a pizza shop can be (and often are) operated by high school idiots... it then should make sense, to look for those "distressed" businesses which can be paid for from profits but also operated by remote means with only an occasional onsite inspection. Finding tools, dies, molds is, for the most part...a long term project unless you have someone who can tell you if there is a ready to buy market. Locating NEW products is easy, but just watch Shark Tank or Lion's Den for a season to see how delusional many inventors/creators are. There is the RARE story where someone turns down a deal and makes it on their own, but my experience tells that 9 out of 10 will exhaust their time, money and energy on a product which no one wants. If I had a dime for all those inventors I spoke to who said, "Everyone will want one"...I might have several pockets full of dimes. If you have no experience, starting from scratch...plan on a three to four year learning curve into the consumer/industrial/IP Toll Booth markets, and the Harvey Brody course Dien mentions is as good as anything. Just be clear about what you want to do, because, for every 1 guy who has a residual income Toll Booth set up, there are probably 50 who tried and couldn't. If you want SPEED, consider Sherman Hunters stuff and new site...BUT don't neglect the old masters as a place to begin to lay a foundation of understanding. Gordon Quote:
Last edited by GordonJ : May 10, 2016 at 05:19 PM.
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#7
May 10, 2016, 04:55 PM
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PS. A story.
In the 1994 edition of 7 Steps to Freedom II book, Ben Suarez was excited about the day soon to arrive when he could sell electrons. And eliminate the paper and ink. He foresaw the future.
Too bad, that today, 22 years after his vision, SCI has never been able to figure out how to sell electrons. Also, in that book, he tells the story of how he planned to beat the big corporations (and he did) by being "nimble and fast on his feet"...which he talked about going up against the 400 pound gorilla. Now he is the gorilla. See? Sometimes big success slows you down. Harvey Brody had a successful publishing business, which he closed down and got rid of all his employees. So far, NONE of his masterful work has been digitized and he too, does not sell electrons. The point is, YOU, as a one man band, can compete with the giants, geniuses and gifted marketers...IF you are quick and nimble, and float like a butterfly and market like an Autumn bee. I will give credit to Sherman Hunter who is attempting to automate the whole thing...and is selling electrons (although not his own, YET)... And from a doing perspective, most SowPubbers would probably benefit from thinking about acquisition of stored value, via distressed businesses. Of course, all mentioned in this thread have sensational businesses and they do what they love to do. Do YOU? GJA
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#8
May 11, 2016, 05:56 AM
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"The Ideal Distressed Suitcase Business?
Wow, Gordon I really appreciate your knowledge & research! What type of distressed businesses does Sherman focus on, which would qualify as a suitcase business?
Yes, I signed up to read his blog etc. However, I have not found any specifics. I understand the concept of stored value. I like the idea, but what is the reality? Is Sherman over simplifying this? Have you listened to any of Art Hamel interviews by Michael Senoff? He specializes in buying specific types of manufacturing businesses because you can use finance the assets & get owner financing. However, it does not sound like an opportunity Harvey would pursue. Bog down & too time consuming? Art Hamel says: "In manufacturing, you have to buy equipment, lots of it. You need lots of inventory. You end up with a lot of accounts receivable, which means a lot of people owe you money. So, when you’re in there, and you have X number of dollars, lots of dollars invested in assets, it’s very difficult for somebody or people generally to go in and compete with you. Why? It’s too costly" Don’t go after service and retail businesses. There a dime a dozen & too easy to enter into. “I have to ask you (Wannabe business buyers)three questions. First of all, do you have any business experience? Number two, do you have any management experience? Number three, do you have any money? Now, if you don’t’ have two of these, you’re screwed. Additionally, Art Hamel says: "What are three things I have to have in place in order to value companies correctly, purchase them, and then operate them towards a more profitable future... And where can I locate the right people with that expertise to be on my team?" "First of all, in every transaction, you’re going to need a CPA, a good one, and a CPA that understands business. Don’t go to some CPA that’s working for General Motors. You’ve seen the job that they’ve done. What you want is a nice CPA who’s done a lot of work with smaller businesses, that has experience in that, and has also done audits or checking on sales of businesses. You also want an attorney that is used to putting business transactions together, not somebody that is an expert in law that has to do with divorces. You want two experts in your court. Now, the problem is they are the exception rather than the rule. So, you’re going to have to rely on your attorney, your CPA, and also other business owners because what’s going to happen is if you’re looking at electronics manufacturing companies, you’re not going to buy the first one you run into." Sounds very complex & time consuming to me. Gordon, any idea what Sherman considers an Ideal distressed business to acquire as a suitcase business?
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#9
May 11, 2016, 09:45 AM
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Jim Straw and the most beautiful woman in the world.
First, I love what Michael has done at Hard to Find Seminars and his other site, and I've listened to many of the interviews. Art Hamel is a genius in his own right. And he proves my old friend Jim Straw's point about...
Who is the most beautiful woman in the world? question. The answer is totally SUBJECTIVE. Depends on what any given person thinks beautiful IS. Right? Same goes for business. My brother and Tiny both had a tow truck business, which I could never do. If you've read about the Cuckoo Clock, you see I'm not good with my hands. A power tool in my hands is usually followed with a call to 911. See? Art Hamel proffers his opinion. I would agree there is a lot of slop and mess, FOR ME, in what he teaches. INVENTORY? Lack of product put Gary Halbert in Fed. prison, his supply chain was broken. So, from an absentee stand point, why would I even bother to put the waders on and venture into that swamp...filled with gators, when I can stay on dry land and feast on the low hanging fruit? I know MANY people who operate the LOWLY "dime a dozen" service and retail business, and do very well for themselves. Get to know Sherman Hunter, read as much as you can...and take his survey. It may shed some light. Although I think I could create a better survey, and I usually do on the phone asking questions... the answer to the question: What is an Ideal distressed business to acquire as a suitcase business? from MY perspective (and I can't speak for Sherman, but I think he might agree)... is the one which BEST SUITS YOU. So, it begins with an understanding of YOURSELF. What aptitudes and attitudes you bring to the game. I have ZERO ability with building things, making music (which I deeply regret) and dealing with people who waste time. But that is me. Therefore, I wouldn't spend hours trying to learn to play guitar, it would be fruitless...but if there were a profitable music store for sale, and the owner is retiring... I'm "good enough" at analyzing the books to be able to conclude whether or not it could be added to the mix, but, you won't find me in the store trying to sell you a flute, cause I couldn't tell you the difference between a flute and a piccolo. The most beautiful woman? Why, it is my "current" girlfriend, of course! Gordon PS A part of Sherman's strategy is to be able to look at and analyze a business opportunity from a spreadsheet...profit and loss statement, same as you see the sharks in the tank ask about sales and VALUATION. They know at the first question, which question comes next. One of the best of the ideal (best looking women) suitcase takeovers is Stored Value IP, as our friend Ryan McGrath spoke of some time back...in his "resurrecting" of an out of print book. That, or get the rights to the PRINCE catalog, there seems to be some iffiness about who owns it NOW? But, I like to look at established businesses with a Senior Owner, who wants someone else to have the fun he/she has had for decades. They are very open to ideas. There is no right, wrong, THIS way or THAT way absolutes. It begins....with... what YOU bring along. gja Quote:
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#10
May 7, 2017, 07:07 PM
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Re: Yahoo as a "distressed" business, much like AOL was
Gordon
have you has Harvey ever helped you enter into a marketing agreement with a hard product you have found and if so how many? Or how many abandoned properties have you found and marketed? Thanks
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