HOW TO MAKE MONEY, A DEDICATED THREAD.

Here's a good article on why most companies go out of business.

http://fortune.com/2016/05/12/xero-s...iness-success/

[GordonJ]

Originally Posted by Leanora Buckley

Here's a good article on why most companies go out of business.

http://fortune.com/2016/05/12/xero-s...iness-success/

From the article, a one sentence summary:

Most operations go out of business because they don’t have enough customers or money—normally at the same time.

A guy named Ben Suarez came to this same conclusion over 40 years ago, and while lifting weights, the NPGS (Net Profit Generator System) came pouring out of his mind like a computer print out.

A few billion dollars later, and 40+ years, too many start-ups still forget the fundamentals of CASH FLOW.

ADD in all start-ups, and the failure rate is more like 1 in 10,000 make it. Most of the time, the failure is found in that one sentence.

Thanks Leanora,

GordonJ

[GordonJ]

Sandalwood brought up a couple of points, the first one is listening to mentors.

We sowpubbers are a tad bit older than Warriors. But, your experience could also be a detriment.

Sandalwood had a mentor making 50k a month, and he followed the mentor's direction.

Today, we have too much experience and I'll tell of recent experiences.

There are several different kinds of Biz-Ops in the selling of advertising.

The 9x12 postcard, the coffee news franchise, coupon books, school folders, pizza boxes, flyers, inserts, and on and on and on.

Many gurus. Many mentors.

Even ME. I quit. I quit mentoring in step by step, tested and proven marketing strategy to sell ads on certain products...and do it quickly. I quit because, no one listened. See, the guys I dealt with all wanted to modify the steps.

Some wanted to stay home and send email. NO, doesn't work, but go ahead and try if you want.

Some wanted to make phone calls. NO doesn't work, but give it a go.

Some didn't want to use maps. NO won't work, but do as you want.

The result, NO success, and rather than take responsibility for not following the step by step, word for word, tested and proven method, which they begged for, and wanted to modify...

but got no results from, was somehow MY fault.

And then I had enough. Changed things up and will no longer work with people in any form or a mentor capacity.

I have a friend, in his 50's, who is just starting a new job selling, and my advice to him is

Forget what you know and follow directions and don't try to modify a program with a 7 year track record and 65 successful sales people.

IF he is able to, he will have found a good future. But he is going to be his own worst enemy because he KNOWS too much.

Recently, I've worked with 3 people who, for some reason, want to work with Wordpress, against my advice for what they wanted to do.

All 3 of them had problems with WP, all 3 were delayed, spent time when time was important. I now simply say, go ahead and do what you want.

My mentoring takes a different turn.

Now selling HOW to information, especially about making money has always had this problem built into it. The buyer pays for the information, but wants to modify it or do it his own way, and they find failure.

And it is one reason why young people can get to IM profitability faster than we old farts can, they don't KNOW what they don't know.

So take a look in the mirror, do you by any chance see a self saboteur?

I know I have on several occasions.

GordonJ

[Dien Rice]

Originally Posted by GordonJ

Now selling HOW to information, especially about making money has always had this problem built into it. The buyer pays for the information, but wants to modify it or do it his own way, and they find failure.

And it is one reason why young people can get to IM profitability faster than we old farts can, they don't KNOW what they don't know.

So take a look in the mirror, do you by any chance see a self saboteur?

I know I have on several occasions.

Hi Gordon,

This is a universal problem - not only in marketing and biz opps.

Richard Feynman, the Nobel Prize-winning physicist, had the same problem. Once you think you know too much, you can't see the new ways... As the saying goes, it's hard to teach an old dog new tricks.

Feynman's solution, as I remember (from his writings), was to try to always assume nothing. (The more you know, the harder this is to do!)

In the example you're talking about, that would mean assuming you DON'T know best and just try what they say works. Once you make it work by following the method exactly, you can then modify it to your heart's content - but that should be a LATER step, not the first step!

Just my 2 centavos...

Best wishes,

Dien

[GordonJ]

Many a thread in archives about this.

I sell my TV on front porch, I may make some money.
But I don't have a business.

Selling weed at the playground, NOT a business, BUT, a lucrative operation.

By the way, probably because of Rio...what would happen if we made PED (performance enhancing drugs) legal and just leveled the playing field OR offer two choices, the PED Olympics, and the "Clean" Olympics.

Also, NFL owners, bigger thieves than Wall St. Bankers...get real with WEED and your players. Let em smoke, maybe they won't beat on their wives and girlfriends, just give Frito-Lay a boost. I say, let there be more Lyle Alzados...if we want gladiators on the field, don't restrict them.

Anyhow.

Is there a PED for making money? Uh, oh, some vitamin/supplement shill just got all excited and wants to expound on some wonder drug for business success...please don't.

Not everyone wants to start and own, and MAINTAIN a business, but look for other options.

The SQ1 show several options on the Pictogrigm of Finances:

http://www.sowpub.com/gordon/financialpicto.gif

Under the "sources" list on the left, we see absentee owned businesses and also joint venture and partnership. I still know people who belong to small investment groups, mostly in real estate, but also in businesses.

Those represent one way where money comes in, without the work, and are probably the least utilized way of cash flow. Most don't think about them or fear they are too complicated.

We also see chattel on the sources side, and as members here know, I'm a big believer in buying and selling for a profit. I don't know of any faster way to make a quick 1,000 to 10,000 bux for the amount of effort needed to do it.

Steve Ski gave us an example of how Curb Painting can be a quick cash thing to do, or built into a very nice business.

We have hundreds of discussions in the archives about how DOING things can bring in fast cash, and that ORGANIZING the doing of things can lead to a lucrative business.

My opinion is, most should start with making money, BEFORE, they start a business. One of fastest tracks to failure is not having a business knowledge foundation to build on...and you can see evidence everywhere when 99 of 100 business start-ups fail.

Making transactions is the cornerstone of both, but in business, it is only the cornerstone, there has to be a "building" (not brick and mortar) which surrounds it...

whereas, making money, can be a one off, stand alone transaction, which is not limited nor governed and can be a penny to a billion bux.

More on choosing the right thing for you and questions are welcome, opinions are welcome, experience shared is greatly appreciated, thank you.

GordonJ

[unpinkpanther]

Thank you for this pictogrigm!

[GordonJ]

Guess after 16 years, we've tapped out the interest in the subject of making money. In a realistic way.

Better leave this topic to the WSO and those guys.

But thanks to the guys (ones who don't need it) who have contributed, you've given us some great ideas.

I know I'm better off from the contributors here, so thanks again.

GordonJ

PS. NOT going to be a sticky.

Hi Gordon,

Originally Posted by GordonJ

Guess after 16 years, we've tapped out the interest in the subject of making money. In a realistic way.

Remember those days when we told those we knew, "I'm going to work from home"? There response was...

..."That's not a real job. You're just being lazy and you don't want to work"

That was the market then.

So what happened?

The market shifted.

Working from home became an obsession.

Desire to work for oneself? Reachable. Reality. Realistic.

Since then the market shifted again.

Desire and fulfillment without labor? Reachable. Reality. Realistic.

I said all that to say this, we, you and I maybe Dien too, represent the previous market.

We see the value of working for ourselves, being in the mix, seeing the process from start to finish.

This generation as a whole, does not share that value. Sure there will be your renegades that will latch onto what we know works.

But it is the masses, who have been conditioned to live, love, work, and earn from the confines of what they hold in their hands.

The topic of making money will always be of interest.

But, "there's got to be an easier way to do this", dominates the market until...

...The market shifts again.