As I describe in my book, No B.S. Time Management for Entrepreneurs, I organize everything with start and pre-determined end times. If someone has a phone appointment with me, they know in advance when it ends, not just when it starts. And it does end as scheduled, even if in mid-sentence.

I have trained and conditioned myself to be hyper-sensitive to time, and I train my clients to respect my hyper-sensitivity. Why?

Because your bank balance and your satisfaction or dissatisfaction with it is more a reflection of how you invest your time than a reflection of anything else. This is the more dominant factor in wealth or relative poverty, success or failure, fulfillment or frustration than all externals combined.

Your ability to sell of goods, services, or concepts is sabotaged or supported by how much control you exercise over the investment, direction, and consumption of your time and, with it, your energy and creativity.

In reality, time is the asset the entrepreneur owns outright and has total control over. I don’t really need to follow you around and observe how you use your time to gauge how you’re doing in business. I only need hear about your philosophy of time. That is what governs your behavior and what you will tolerate or refuse to tolerate in the behavior of others.

For example, how do you determine which people you’re going to spend your time with? One of my litmus tests: If somebody can’t keep seemingly minor commitments, I know I can’t trust them to honor important ones either. And if I allow myself to hang around with them, soon they’ll be the cause of me failing to honor my commitments.

Another example: Do you actually handle time as money, not just give lip service to the idea? Can you tell me what your time must be worth per minute to achieve your income goal? The question I ask myself is: Will this use of my time move me measurably closer to my meaningful goals? Is there even a chance it will? If not, why do it?

The harsh reality is: Execute or be executed. It’s how business really works. Hardly anybody gets paid for their ideas. Not even the imagineers at Disney. We actually get paid for what we get done. To the ignorant, my area of marketing seems to be about ideas. The insiders know: It is about implementation.

The entrepreneur is in a situation that encourages poor productivity: He is his own boss. Often this produces an unproductive employee and a lenient, dysfunctional boss. A two-fer. That’s why you must create a success environment for yourself. You must impose strict deadlines on yourself and be ruthlessly resistant to wasting your time. Hold yourself accountable, hour by hour.

Source: Dan Kennedy – Early to Rise

It didn’t really matter too much whether their product or service was any good .. they simply convinced the market that it was, and the market bought it.

Fast forward to today — and there are

major shifts why this is all different.  In today’s business world, the entrepreneur has the ability to compete directly with “old business”, and these 2 key elements explain why.

The first shift has literally eliminated and created thousands of new industries and business models — the Internet.

This one goes without saying.  The Internet has levelled the playing field for entrepreneurs.  Because of social media, it’s impossible for bad companies to hide.  Consumers talk and share information at blistering speeds, and this benefits the small entrepreneur who really does have a better idea, but in the past would have struggled for the world to learn about it.

The Internet has made it possible to create a business online, all operating in a ‘virtual’ world with no employees or store, and allowed entrepreneurs to become financial independent.  More traditional ‘bricks and mortar’ businesses that have figured out how to thrive online have driven their growth and profits as a result of the Internet.

And of course, the old business models that refused to evolve and embrace the changes (and opportunities) caused by the Internet have been destroyed.

The Internet gives the entrepreneur incredible power and reach, allowing us all to compete with virtually any company, wherever it’s located.  This is good news for the entrepreneur!

The second shift, which isn’t as visible in the market but is equally powerful, is that our entire society is changing the way that it makes buying decisions. There was a day when high-pressure, over-the-top sales pitches would work.  But in today’s world, people are desperate for authenticity, transparency and honesty.

People do not buy the slick sales pitch and hyped up marketing copy any more, and this explains why so many business are getting CRUSHED right now. They may have seen the Internet shift, but they’ve missed this second powerful shift.

So — as an entrepreneur, how do YOU plug into this new trend, and ensure that you’re taking advantage of it .. instead of being destroyed?

The following video discuss the

key trends that have given entrepreneurs incredible power to dominate markets, and beat the ‘big guys’ at their own game.

These 2 elements are forcing a lot of companies out of business, and giving entrepreneurs like you and I a unique opportunity to build powerful, profitable businesses.

Source: Greg Habstritt and Michael Drew

Seriously. This is a real offer. In fact, you really can’t turn me down, as you’ll come to understand in a moment…

Here’s the deal. You’re going to start a business or expand the one you’ve got now. It doesn’t really matter what you do or what you’re going to do. I’ll partner with you no matter what business you’re in – as long as it’s legal.

But I can’t give you any capital – you have to come up with that on your own. I won’t give you any labor – that’s definitely up to you. What I will do, however, is demand you follow all sorts of rules about what products and services you can offer, how much (and how often) you pay your employees, and where and when you’re allowed to operate your business. That’s my role in the affair: to tell you what to do.

Now in return for my rules, I’m going to take roughly half of whatever you make in the business each year. Half seems fair, doesn’t it? I think so. Of course, that’s half of your profits.

You’re also going to have to pay me about 12% of whatever you decide to pay your employees because you’ve got to cover my expenses for promulgating all of the rules about who you can employ, when, where, and how. Come on, you’re my partner. It’s only “fair.”

Now… after you’ve put your hard-earned savings at risk to start this business, and after you’ve worked hard at it for a few decades (paying me my 50% or a bit more along the way each year), you might decide you’d like to cash out – to finally live the good life.

Whether or not this is “fair” – some people never can afford to retire – is a different argument. As your partner, I’m happy for you to sell whenever you’d like… because our agreement says, if you sell, you have to pay me an additional 20% of whatever the capitalized value of the business is at that time.

I know… I know… you put up all the original capital. You took all the risks. You put in all of the labor. That’s all true. But I’ve done my part, too. I’ve collected 50% of the profits each year. And I’ve always come up with more rules for you to follow each year. Therefore, I deserve another, final 20% slice of the business.

Oh… and one more thing…

Even after you’ve sold the business and paid all of my fees… I’d recommend buying lots of life insurance. You see, even after you’ve been retired for years, when you die, you’ll have to pay me 50% of whatever your estate is worth.

After all, I’ve got lots of partners and not all of them are as successful as you and your family. We don’t think it’s “fair” for your kids to have such a big advantage. But if you buy enough life insurance, you can finance this expense for your children.

All in all, if you’re a very successful entrepreneur… if you’re one of the rare, lucky, and hard-working people who can create a new company, employ lots of people, and satisfy the public… you’ll end up paying me more than 75% of your income over your life. Thanks so much.

I’m sure you’ll think my offer is reasonable and happily partner with me… but it doesn’t really matter how you feel about it because if you ever try to stiff me – or cheat me on any of my fees or rules – I’ll break down your door in the middle of the night, threaten you and your family with heavy, automatic weapons, and throw you in jail.

That’s how civil society is supposed to work, right? This is Amerika, isn’t it?

That’s the offer Amerika gives its entrepreneurs.

Source: Porter Stansberry´s Daily Wealth Newsletter

Mountains cannot meet, but people can

In dealing with complex give-and-take issues, I am reminded of the fable where a dog with a bone comes to a pond and sees its reflection in the water. It thinks it sees another dog with a bone and tries to grab that one too. In doing so, it drops its bone in the water and winds up with nothing.

No one side can have it all. Both sides in an issue can’t afford to come up empty — without a bone — on certain issues. However, with cooperation and compromise from all parties, most things can be worked out.

Compromise is often looked upon as weakness. When President Harry Truman was pushing to complete a difficult program, he was asked whether he would settle for half a loaf. He said he would be willing to settle for one slice at a time.

Politics involve constant compromise. Business does too: negotiating contracts, hiring, closing sales, to name a few.

Certainly, there are times when you cannot nor should not compromise: on your principles, for example. Never give in on ethics or potentially illegal activities. It’s unacceptable to be less than honest in your dealings.

You know what you need, what you are prepared to give up, what you will never budge on. Do you know whether the other party knows what they want, what they need and what they are willing to give on?

Fred Jandt, author of Win/Win Negotiating, says, “Keep in mind that the better you understand what you want and why you want it, the better your chances will be of acquiring it.”

Do you carry a Visa card? Its genesis was the result of a genuine compromise. Karl Weick shares the story in Managing as Designing.

In the early 1970s, National BankAmericard Incorporated turned around the Bank of America’s faltering credit card business in the United States. Soon after, BankAmericard licensees around the world wanted NBI’s help too. The problems were enormous: each licensee had different marketing, computer and operational systems, as well as different language, currency, culture and legal systems. Banks were using computer punch cards and tape, and there was no Internet. After nearly two years of tense negotiations, the organizing committee met to try to resolve three deal-breaking disagreements. Positions had hardened and compromise seemed unlikely.

Shortly before that meeting, committee chairman Dee Hock reflected on how much the international group had achieved. It dawned on him that “at critical moments, all participants had felt compelled to succeed . . . all had been willing to compromise. They had not thought of winning or losing but of a larger sense of purpose and concept of community that could transcend and enfold them.”

The final meeting was contentious. The Canadian banks refused to participate and withdrew, so Hock said they would reconvene the next morning in order to plan how to disband. Before adjourning, Hock invited everyone to a grand dinner that evening in recognition of their efforts to try to make the organization work.

After dinner, there was brief reminiscing about shared experiences and obstacles overcome. Then the servers placed a small wrapped gift in front of each person. Hock asked everyone to open them.

He said: “We wanted to give you something that you could keep … as a reminder of this day. On one cufflink is half of the world surrounded with the phrase ‘the will to succeed’ and the second cufflink is the other half of the world and the phrase ‘the grace to compromise.’ We meet tomorrow for the final time to disband the effort after two arduous years. I have one last request. Will you please wear the cufflinks to the meeting in the morning? When we part we will take with us a reminder for the rest of our lives that the world can never be united through us because we lack the will to succeed and the grace to compromise. But if by some miracle our differences dissolve before morning, this gift will remind us that the world was united because we did have the will to succeed and the grace to compromise.”

Then Hock sat down. Absolute silence, until one of Hock’s Canadian friends exclaimed, “You miserable bastard!” The room erupted in laughter.

The next morning everyone was wearing the cufflinks. By noon, agreement was reached on every issue and VISA International was born.

Mackay’s Moral: Compromise is the art of dividing a cake in such a way that each party thinks they get a bigger piece.

Could it be that what’s stopping you from making your next big business breakthrough is that you haven’t broken the right rule?

Most successful entrepreneurs I know are perpetual rule breakers. In fact, I find it hard to come up with even one who’s played by others’ rules and still managed to come out on top.

An acquaintance of mine in the music biz is a good example.

Stuart Davis is a quirky, talented musician who has developed a strong following with his blend of “Sex, God, and Rock ‘n’ Roll.” It’s an ear-catching mix, to be sure. But what I guarantee will be far more interesting to you is how he’s breaking the rules.

Stuart has been remarkably successful in the music business for over a decade, with no major label, no distribution, and no radio play. He’s done it by selling his music his way — including self-publishing his albums.

That created a bit of a problem, though. It’s expensive to produce albums.

Well, Stuart had a brilliant idea. He has a rabid, devoted fan base. So he decided to give them a chance to be his record label.

Here’s how Stuart’s fans-as-record-label system works:

* The budget for a new album is $100,000.
* 100 percent of album revenue rights are made available to fans. Fans can participate with micro-loans in $1,000 increments. Each $1,000 gives a fan/partner 1 percent of revenue rights.
* When the album is released, 100 percent of revenue goes to fan/partners until they double their money. After they double their money, profits are split 50/50 between Stuart and the fan/partners according to their percentage.
* Stuart retains all copyrights and creative control. (Fan/partners acquire the rights to profits, not to the music.)

As you can see, Stuart has completely rewritten the rules for funding the cost of producing an album. By structuring non-conventional loans from his fans, he gives them the opportunity to share the risks and rewards of the music business. And because he already has 15 successful albums under his belt, it’s not hard for his fans to make the decision to invest in the next one.

How can you take advantage of the “rule-breaking” approach in your business? To give you some ideas, let’s take a look at a few ways it has been successfully done.

1. Break the rules by adding VIP services.

Amazon.com started making waves in the online retail world a couple of years back with its Amazon Prime Membership service — which gives customers unlimited 2-day shipping for a flat annual fee. This rule-breaking VIP service has no doubt been part of Amazon’s rapid growth. I know my Prime Membership keeps me going back to Amazon over and over again.

Is there some way that you could offer a VIP service to your customers? Would they pay a premium for special treatment? Faster shipping? Exclusive offers? First access to new programs or merchandise?

2. Break the rules by using new technologies.

The “rule” that most traditional publishers follow is to sell their programs as complete packages and deliver them via the mail. It was always the most cost effective way to get the material to customers. But then the Internet — and digital delivery — came along.

One publisher I worked with took advantage of this new technology immediately and gave customers the option of getting the material via e-mail, as a monthly subscription service. Subscribers also had online access to their entire catalog, including all new releases and updates. The result? The subscription service now brings in 50 percent of their profits, giving them a steady stream of guaranteed revenue every month in the hundreds of thousands of dollars. And because subscribers have such easy access to their online catalog, but sales of additional products have doubled.

How can you use the Internet to give your customers more ways to spend money with you? What rules can you break in product delivery to change the way customers consume your products?

3. Break the rules by making your biz a big-time supporter of a cause.

Many businesses donate big chunks of money to charities in order to get a tax write-off. But it doesn’t have to cost you a penny to support a worthwhile cause — and get lots of attention and respect in the process.

Teleseminar guru Alex Mandossian, for example, is the single biggest fundraiser for Kiva.org. (Kiva provides microfinance loans to entrepreneurs in developing countries.) He does it through regular fundraising teleseminars that inspire many of his customers to donate. Each one may donate only a small amount, but it adds up to a significant sum. Alex also runs an annual event where all profits are automatically passed through to Kiva.

Do you have a favorite cause that you could support through your business? Could you offer services to them for free? Sponsor special events and donate all the profits? How can use get your customers enthusiastically involved in supporting the cause with you?

Now, to help you come up with your first rule-breaking business breakthrough, I’m going to give you a quick exercise. The whole thing should take about 15 minutes…

In general there are five rules that can be broken in any industry:

* How you source your products or services
* How you market and sell your products or services
* How you take payments
* How your business is financed
* How you communicate with your customers

So grab five sheets of paper. At the top of each, write one of the five rules listed above. Draw a line down the center of each sheet. On the left, write “How we do it.” On the right, write “Other ways to do it.”

Under “How we do it,” quickly jot down the rules you currently follow. On the “How you take payments” sheet, for example, you might write, “All orders paid in advance.”

Then give yourself one or two minutes per sheet to come up with ways to break the rules. On the “How you take payments” sheet, you might write “Bill in 30 days,” “Offer $1 trial,” and “Offer installments” under “Other ways to do it.”

Many of the ideas you come up with won’t be worth implementing. But all it takes is one good one to generate a profit and growth breakthrough that will astound you.

Source: Roy Furr

Changing conditions call for changing ways of doing business. The world has now entered a period of economic turbulence caused in part by global hyper-competition, skyrocketing energy costs, financial uncertainty, and waves of new technologies. This will most likely be a prolonged period during which the status quo will be upset by rapid changes in how business is conducted within your industry. The old business models and rules are being swept aside by new ones.

The Industry Aggregation model can best be explained by comparing it with the Japanese “keiretsu” model which was highly instrumental in that country’s post WW2 “Economic Miracle”. In the keiretsu model a number of publicly-owned industrials band together for mutual benefit along with a bank. The collaboration includes cross-ownership of stock, access to bank loans, joint ventures, and preferential treatment with the group.

The Industry Aggregation model is fine-tuned for small to medium sized privately held companies with revenues in the one to fifty million dollar range to deliver the same set of benefits. Replacing the bank is a public company which serves as both the group’s anchor and banker. The benefits of Industry Aggregation are:

* Member companies swap privately held stock for trading shares which sell at significantly higher multiples. This creates the liquidity for shareholders which is absent in private companies.
* Various forms of cross-marketing and joint ventures by group members help everyone to increase revenues.
* Operating costs are decreased through both group purchasing power and preferential intra-group pricing.
* Access to scare resources such as capital, human resources, and IT is improved substantially.

As is probably obvious, the goal of Industry Aggregation is to empower entrepreneurs and help them grow their companies further.

Industry Aggregation is not suitable for startups. However, some exceptional early-stage companies with bona fide revenues maybe considered.

To learn more about the benefits of Industry Aggregation for your own business, I recommend the original source: Gordon Bizar.

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2. Be genuine
3. Make Intros for other people to connect.
4. Be distinctive.

http://www.backpocketcoo.com/

Coolest business card ever designed by Cameron Herold.
5. Get Diverse: Some of my favorite connections have come out of charities I support or hobbies or different interests. There’s a different connection formed with a common interest first, and business second.
6. Become prolific and prominent: This probably isn’t that big of a secret but it’s worth mentioning. If you can get on stage, write a book, become an expert, etc. – you’ll have people seeking you out.
7. Follow-up: I admit I don’t do this as well as I could but I shoot quick texts, emails or clippings over to people when I know it’s something they’re interested in.
8. Get up close and personal
9. MasterMind Groups. “If you can grasp this principle and apply it you may have, for your efforts, whatever you want on this earth!”
10. Mentors & Thought Provokers

Creating the ‘BIG’ idea & Selling at premium prices

Maverick Rule #1 says: It’s got to be a BIG idea that you, your team and your customers can “get” in seconds.
“Uncrustables”
“100 Calorie Packs”
“8 Minute Abs”
“Time Shares”
“101 Nights of Grrreat Sex”
“The Real World”
“Club Med”
“24”

Maverick Rule #2: You must charge a premium price so you have a large margin to provide an extraordinary value & experience.

Sorce: Yanik Silver

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If you’re ready to start your own business, Mary Ellen Tribby gives the core ideas in her step-by-step guide.

Spend Most of Your Time on What You Know Best

You may be used to working as part of a team. Somebody does the graphics. Somebody writes promotional copy. Somebody else develops the marketing plan. But when you’re solo, you’re in charge of everything.

Some tasks you can just ditch. And some you can delegate. Establish your priorities. Should you spend time on the phone with your website hosting provider? No, you should delegate that. Should you spend time on content and offers geared toward your market, which you know better than anyone else? Yes.)

Make Technology Your Friend

You may be used to letting others handle the “tech” stuff in your workplace. But when you’re running your own business, you’re the tech guy. And, as MaryEllen discovered, it turns out much of it is pretty easy. For things you can’t figure out, take a class. If it’s really complicated, hire a freelancer.

You don’t have to know everything. But you need to know enough so you’re not at the mercy of your outsourced help. You don’t want to be overcharged or told something is impossible when they just don’t want to do it.

Don’t Ask for Favors, Ask for Advice

At meeting with the mega-successful entrepreneur Richard Branson, MaryEllen was invited to talk about her business. Instead of asking for help, she simply explained what her venture was about and asked for suggestions. Richard offered his support. And, already, his charitable organization, Virgin United, has been in touch with her.

You don’t have to know Richard Branson to take advantage of this approach. Just think about it. If you’re constantly asking people for favors… how long will they feel like granting them?

Create a Network You Can Brag About

Get the best people in your industry in your network. Not people you’ve only met once or see once a year. I’m talking about people you can call at any time. People who will do anything for you. (Of course, you have to be willing to do anything for them, too.)

When you’re starting out, you probably won’t be in touch with industry giants. But you can still make great contacts. Start with likeminded people who are as focused as you are on growing their businesses. As your businesses grow, you will be able to help each other.

Create Accountability Partners

You are 65 percent more likely to accomplish your goals if you have someone watching over your shoulder. As MaryEllen pointed out, it probably has a lot to do with not wanting to admit to not doing what you said you would do. That fear keeps you motivated.

So set up a time to speak with a colleague or business partner once a week. Talk to each other about what you’ve been doing with your businesses. Call them out if they’ve been slacking. Ask them to do the same for you.

Understand Your Market Intimately

One of the first things MaryEllen did was research her market and her competitors. Using keyword research tools from Google, she found that 43 million people a month search terms related to “working moms.” She visited every site in the organic results and pay-per-click ads.

She looked in depth at their site layouts, sales letters, offers, products, and marketing strategies. She figured out what other companies were doing right. And what they were doing wrong. (For example, many didn’t have sign-up boxes on their home pages to build their e-mail lists.)

Work on Your Business Every Day

You can’t just work on the weekends. You have to do something every single day to advance your business. If it’s important to you, you’ll do it. Get up extra early if you have to.

If you want to sell supplements online, for example, you could start researching which products are hot right now. You could contact some suppliers. Buy a domain name. Build your website.

Learn, Understand, and Strive to Master Direct-Response Marketing

Direct marketing is the key to online success. An e-commerce site like Amazon may work. But you’re not Amazon. You can’t wait for customers to find your site. You must reach out to them, get their contact information, and start building relationships that lead to sales.

Don’t Fall Victim to the Biggest Entrepreneurial Curse

Four projects halfway done yields ZERO revenue. One project 100 percent finished brings cash in the door.

Focus on one thing at a time — the one most important thing — and complete it before you start another project.

Ready, Fire, Aim

You have an idea for a business — and six to nine months later, you’re still working on getting your site together. And you’re still working on your marketing copy. Know this: Everything doesn’t have to be perfect before you launch.

As MaryEllen pointed out, most of what you learn about business comes from doing it. You’ll find out what people will buy and for how much. You’ll discover the best way to reach your customers and build your list.

Turning Someday Into Payday

These days, MaryEllen is working toward her dream: to start her own online business aimed at working mothers. And she’ll help kids in need at the same time. Her venture will allow her to work from home, spend time with her family, and make enough money to live the lifestyle she wants to live.

After years of putting off her dream until “someday”… it’s finally happening.

What are you doing to make your “dream” business a reality?

Maybe you’re waiting ’til after the holidays… or for the kids to get a little older… or for that big project at work to be finished… or for the economy to pick up again.

If that’s the case, now’s the time for a little MaryEllen-style tough love: Those are just excuses. Sure, they are real obstacles — but they’re still excuses. And you can always find more of them if you want to.

Stop trying to come up with rationalizations for not taking action. The truth is, now is always the best time to start a business.

Step-By-Step Guide To Starting a Small Business

1. Are You the Entrepreneurial Type?
2. Small Business FAQ
3. Introduction
4. Deciding What You Want To Do
5. Viability Of Your Idea
6. New Learning
7. Writing a Business Plan
8. Financing Your Business
9. Effective Partnering
10. Mentors and Resources
11. Business Structure
12. Licenses, Regulations and Permits
13. Small Business Insurance
14. Employment Issues
15. Hiring/Managing/Firing Employees
16. Accounting System/Internal Controls
17. Implement Your Marketing Plan/Selling Product
18. Creating Your Product
19. Refining Your Marketing Plan
20. Modifying Your Product, Creating New Products
21. Reevaluating Your Company
22. Growing Your Company
23. Contemplating Your Exit Strategy
24. Further Small Business Resources

Source: “Ready. Fire. Aim” by Michael Masterson
Small-Business-Book

Is your business idea viable?

Take a look to this checklist for every entrepreneur, the essential acid test to determine the viability of any new business you’re considering:
1. Inventory Cost Relative to Capital On-Hand, and Inventory Rotation
2. Margins
3. Start-Up and Promotional Expense Relative to Capital On-Hand:
4. Compatibility with Push Marketing and Customer Funnel Strategy:
5. Competition
6. Uniqueness of product

The, rate each category from 1 (low) to 4 (high).
* Between 19 and 24, there’s an excellent chance you could be the next entrepreneurial legend – a Richard Branson in the making!
* Between 13 and 18, look for new wrinkles that would allow you to assign a higher score in one or more of these categories.
* Between 4 and 12, your business idea needs intensive care. Either find ways to improve its score in EVERY category or simply walk away.

What would be the perfect business?
* Inventory cost is next to nothing …
* Instead of margins of 50% or less, keep between 90% and 100% of every revenue dollar earned …
* Instead of having to spend five or even six figures creating a huge website and catalog, the start-up expenses should be next to nothing …
* The new model might be 100% compatible with the push marketing/customer funnel model and also take advantage of search engine optimization to pull prospects and customers to the company.
* And have zero competitors and products that are absolutely unique – the only place in the world you can get them is from this company.

Does this business exist? This could be the Information Business like selling: E-books, courses, videos and maybe even live workshops to people who want to maintain, build and customize their own business.

What does WCS stand for?
It stands for “Worst-Case Scenario”.

Just as technology companies around the world have people working in IT departments specifically to design disaster recovery plans, business owners will be designing their own disaster preparedness and recovery plans.

Figuring out your worst-case scenario now, before it happens, and coming up with a solid plan with the steps you’d take to survive and thrive during your own WCS is just smart business.

Because if a business disaster strikes and leaves you blindsided, you’re apt to make quick decisions that may or may not be the right moves. You could be just a few decisions away from your business surviving a disaster – or crashing and burning like
many of the businesses before you who were faced with similar disasters.

What is your WCS?
What could happen tomorrow that would put you into total emergency mode?
What if a key supplier goes out of business?
What would happen if your top employees quit tomorrow?
What would happen if your computers or servers crash?
What would you do if you couldn’t make payroll?
What would you do if your #1 and #2 customers went out of business or went to your competitor?
How do you recover from a failed product launch or a failed marketing campaign?

You need a plan. Because when spit hits the fan and you’re smack dab in the middle of a business emergency or full-fledged business disaster, you’re thinking and reasoning will not be as clear as it is today.

The chance you may make the wrong move, the wrong decision, the wrong phone call, etc. is at an all-time high.

Now coming up with your WCS (or several of them) is not easy. Often we’re blindsided by an emergency or disaster that we never saw coming. But there is something you can do.

There is something that can prepare you better than anything else out there.

And that’s learning about the top 28 worst-case business scenarios that can happen to nearly all types of businesses.

Once you’re armed with this information, it’ll be much easier for you to take a step back and figure out your WCS – and come up with a plan on how to deal with it when it happens.

On top of that – and this is the most important and most profound sentence here…

By educating yourself on the most common worst-case business scenarios, you can take the steps needed to STOP business emergencies or disasters BEFORE they happen.

Being prepared is just smart business. Having backup plans is just smart business.

And Owning “The Worst Case Scenario Business Survival Guide” that just hit the bookshelves is what will
prepare you for your own WCS.

Claim your copy today and get ahead of the curve.

http://www.WorstCaseBusiness.com
by Mark Joyner

First, they acknowledged that there had been a problem and let their customers know that they understood how much it affected them:

“Gmail’s Web interface had a widespread outage earlier today, lasting about 100 minutes. We know how many people rely on Gmail for personal and professional communications, and we take it very seriously when there’s a problem with the service.”

Next, they apologized for the outage — and did NOT try to minimize its impact:

“Thus, right up front, I’d like to apologize to all of you — today’s outage was a Big Deal, and we’re treating it as such.”

Then, they assured their customers that they had looked into the cause of the outage and were taking action based on what they’d learned:

“We’ve already thoroughly investigated what happened, and we’re currently compiling a list of things we intend to fix or improve as a result of the investigation.”

And they provided some details that demonstrated their ability and commitment to resolve any technical glitch quickly:

“The Gmail engineering team was alerted to the failures within seconds (we take monitoring very seriously).

“We brought a LOT of additional request routers online (flexible capacity is one of the advantages of Google’s architecture), distributed the traffic across the request routers, and the Gmail Web interface came back online.”

Finally, they explained what they were doing to prevent an outage in the future:

“We’ve turned our full attention to helping ensure this kind of event doesn’t happen again. Some of the actions are straightforward and are already done — for example, increasing request router capacity well beyond peak demand to provide headroom. Some of the actions are more subtle — for example, we have concluded that request routers don’t have sufficient failure isolation.

“We’ll be hard at work over the next few weeks implementing these and other Gmail reliability improvements — Gmail remains more than 99.9% available to all users, and we’re committed to keeping events like today’s notable for their rarity.”

This is a pretty good template for any business to use. It begins with a quick acknowledgement of the problem and its seriousness. It includes enough information to make the customer feel confident the business understands the problem and can fix it. Then it provides reassuring evidence that it won’t happen again.

Every business makes mistakes. Fair-minded customers know that.

If you respond to problems responsibly, the way Google did in this case, your customers will stick by you. But if you try to bury or minimize your mistakes, you will lose their faith in you. And that is the most valuable asset you have.

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Mark Joyner, the author of The Great Formula is one of my favorite experts and he has a gift for taking complex ideas, which may seem too formidable to do, stripping them down to the essentials and helping you to take action.

If you are looking for a book to give you deep insights into how you can develop your backend (the technical phrase for repeat business) you may be left wanting more.

If you want a book to inspire you to build a successful business, then The Great Formula could be just what you are looking for.

And now you can get a free pdf version of The Great Formula.

What is The Great Formula?

* Step 1 – Create the irresistible offer
* Step 2 – Present it to a thirsty crowd
* Step 3 – Sell them a second glass

“Is that it?” do I hear you ask?
Yes, that’s it.
Nice and simple – a business philosophy for success in 14 words.

Mark Joyner uses the example of a man in a desert desperate for water. You make your offer, he snatches the glass out of your hand and then you offer a second glass.

It couldn’t be simpler could it but that is the beauty of Mark Joyner’s work with his training company Simpleology.

On pages 49 through to 72 you will see the Great Formula in history with companies like Gillette, Holiday Inn and Avon. This is very useful as Mark Joyner breaks down each example into the three stages of the Great Formula – including the irresistible offer into its three stages.

After that The Great Formula book features guest authors – many of whom are master marketers who explain how they have applied these ideas in their own business. Some of them are:
- The Picasso Illusion by Joe Sugarman
- The Boron Letters by Gary Halbert
- Personal emails from BBDO Vice President Ben Mack
- Gold Standard by Paul Galloway
- Nasa Scientist Files by Harry Johnson
- Marketing Domination by Brad Callen

Before the success of this book, there was prior Amazon Bestseller called “The Irresistible Offer” which can be download for free as well as an ebook.

You simply plug into one of these detailed maps… follow along from point “A” to point “B” all the way to “Z” and beyond… and your business just continues to grow.

It’s quick and easy, which means you spend less time reading, and can begin implementing these winning strategies right away!”

Simpleology Cashmaps by Mark Joyner

Simpleology Cashmaps are developed for several internal processes that face any entrepreneur and business owner to systematize and automate procedures that can be delegated or outsourced with simple steps to follow.

You get the high level strategy cashmap free, often with a video or audio walkthrough up to an hour long but if you want the detail action cashmaps, you have to buy on the one-time-offer upsells or pay more later.

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But what about Apple as a company? What sets it so far apart from others in the consumer electronics sector? More importantly, how is it as an investment? Is it far ahead there as well? The short answer is a resounding “yes.”

The company rarely fails to disappoint, both on the design side and especially when it comes to revenues and earnings. The company takes a lot of heat from analysts due to its conservative stance when it comes to forecasting revenues and earnings.

Apple’s balance sheet is the envy of Wall Street: It’s sitting on a mountain of cash – north of $31 billion – and not one shred of debt. An enviable position anytime, but even more so in the current recessionary climate.

Here’s the bottom line on Apple as an investment: If you’d bought a few shares of Apple as a Christmas present for someone back in December 1980, they’d be your best friend. The stock has climbed 4,463% since then.

How Does Apple Do It?

Ok, I’ll forget the product comparisons, but just consider these incredible facts:

Forget the fact that its iPod has dominated the portable music player market, completely changing the way music is sold at the retail level…

Forget for a minute that its computers command a significant price premium over similarly configured Windows machines…

Forget that so many mobile phone companies came before it, with pricing plans cast in stone…

The company’s management is the proverbial outside-the-box thinkers: When Apple decides to enter a particular space, and introduce its initial product, it nearly always changes the ground rules, completely upsetting the apple cart for its competition.

And just when a competitor thinks it has Apple’s product strategy figured out and manages to introduce a “me-too” widget, Apple introduces a faster, better one with even more features that customers want.

Notice I didn’t say cheaper: There’s never been a company in modern history that’s monetized great consumer product ideas the way that Apple has. I defy you to name one that’s done it as well.

The best part about Apple is that every time a new would-be competitor comes along, the mainstream media hacks decry “the next iPod killer,” or “the iPhone has run out of steam.” Nervous investors sell, and long-time Apple shareholders just buy their shares.

Source: David Fessler

While he spends a lot of time outlining what he calls the “Five Stages of Decline”, I was particularly motivated by his thoughts on what those who fall, and then recover, have in common.

I certainly want to understand how to avoid a fall in the first place. (Or should I say, avoid any more “falls” than I’ve already experienced!) But since it’s a given that stumbling and falling down is a necessary and inevitable experience of life…I’m motivated by examples of those who get back up and recover.

Here are some excerpts from How the Mighty Fall that I found of particular interest:

Xerox. HP. Nucor. IBM. Merck. Texas Instruments. Pitney Bowes. Nordstrom. Disney. Boeing. What do these companies have in common? Each took at least one tremendous fall at some point in its history and recovered…in every case, leaders emerged who broke the trajectory of decline and simply refused to give up on the idea of not only survival but ultimate triumph, despite the most extreme odds.

The signature of the truly great vs. the merely successful is not the absence of difficulty. It’s the ability to come back from setbacks, even cataclysmic catastrophes, strongter than before. Great nations can decline and recover. Great companies can fall and recover. Great social institutions can fall and recover. And great individuals can fall and recover. As long as you never get entirely knocked out of the game, there remains hope.

The path out of darkness begins with those exasperatingly persistent individuals who are constitutionally incapable of capitulation. It’s one thing to suffer a staggering defeat–as will likely happen to every enduring business and social enterprise and (individual) at some point in its history–and entirely another to give up on the values and aspirations that make the protracted struggle worthwhile. Failure is not so much a physical state as a state of mind; success is falling down–and getting up one more time–without end.

He tells the New York Times, “History told me that you just keep working, and it is easy to make more money.”

McAfee then turned his attention to real estate – particularly real estate in the West and Southwest. And, here the story takes an interesting turn.

McAfee originally bought some of his real estate for fun. His 157-acre spread in New Mexico has a massive house, general store, 35-seat movie theatre and a cafe (click for photos). It was also the place he and his friends could fly “open cockpit planes with his friends.” At the height of the boom, in 2007, he also spent $25 million to buy a lot and built a 10,000 house in Vail, Colorado. And then there was the oceanfront estate in Molokai, Hawaii.

But as we all know, real estate prices aren’t what they used to be. McAfee recently sold the Vail property for $5.7 million. The Hawaii oceanfront estate fetched just $1.5 million. The New Mexico property, along with its cars (including 1923 Model T Center Door, a 1930 Model A Pickup Truck, a 1929 Model A 4-Door Sedan, a 1959 Buick, and a 1960 Chrysler Imperial), collectibles, outbuildings, and landing strips, is now up for absolute auction on August 30, meaning that McAfee will take whatever price is offered.

It’s not as if all of his $100 million dollar wealth was in real estate. The New York Times reports that McAfee lost millions in Lehman bonds, and more in the general stock market collapse.

But by his own reckoning, McAfee is now worth just $4 million. He flies coach and probably wonders how in the world someone worth $100 million could lose 96 percent of his wealth in just two short years.

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