Positioning is admittedly an advertising buzzword, but it’s legitimately one of the most important marketing concepts you’ll ever consider in your entrepreneurial career. One of the definitions of positioning is controlling how your customers and prospective customers think and feel about your business in comparison to other, similar businesses competing for their attention.
Positioning strategy #1: Name. Name your business so that the name telegraphs what your business does. For example, not just Michael’s but Michael’s Arts and Crafts. Positioning strategy #2: Price. You should be selling in a self-created competitive vacuum, where price is evaluated by the prospect only against value, only based on your presentation, not […]
When you can’t promise a payment amount and date, don’t; promise what you can, even if that’s only the date and time you’ll next communicate. Target the creditors hurting your cash flow most for comprehensive renegotiation. Take your new business plan and meet in person if possible.
Let’s say you owe XYZ Company $20,000, all past due. You might get that $20,000 switched from a trade payable to a long-term, five-year installment note, interest only for the first year, and agree on new purchases to pay one-third with order, one-third on delivery, and one-third in 30 days. Facing trouble head-on, more often […]
“The success of most businesses over time is derived about 50% from the ability to consistently acquire a sufficient quantity of valuable customers, and 50% from the ability to keep those customers interested – thus the need to frequently re-purpose, re-imagine, create, present something new; the next big, new, interesting idea, story, person, thing.” Dan Kennedy
Until 1971, when the Nixon administration made the historic decision to abandon the gold standard, the dollar was backed by a percentage of the country’s gold reserve. Without gold backing, the value of the dollar is nothing more than its purchasing power.
How reliable that purchasing power is depends on how well the U.S. economy functions and how the supply of money is managed. Peter Schiff
If your success game plan features being right 100% of the time and never making mistakes or your fragile ego demands never getting egg on its face, you’ll be playing the game only for a short time, timidly, and without distinction. The ironic fact is, the game is won by losers. If you aren’t floundering […]
Most people take a lot of pride in their homes and are always looking for ways to improve their surroundings. Whether that’s a bit of DIY, ensuring it is spick-and-span, or tending to a lovely herb garden, it’s the little things that make a house a home. And subscription boxes can be just the ingredient […]
Too many people get into business only to discover they’ve acquired a new, tougher, more demanding, more stressful job, and they cannot see any way to change it.
From day one, if your business is to provide security, freedom, and wealth, you should be working at weaning the business from dependence on you and creating dependence on systems. I’ve appeared as a speaker on several programs with Michael Gerber, author of the best-selling book ‘The E-Myth’. His advice is to systemize the business […]
If you heed the Fastlane philosophy and start a lemonade stand on the street corner simply because the Fastlane said, ‘Start a business’, I have failed.
That road is the wrong road because it doesn’t route to wealth. The road to wealth must route to wealth! Your road must go near or through the Law of Effection which says: to make millions you must impact millions. How can you impact millions? In the Fastlane, you engineer a business that touches millions […]
Inflation is something we like when we’re in debt , which stays in constant dollars, and need more dollars (albeit of less intrinsic value) to repay it with.
Inflation is bad, however, because it reduces the dollar’s purchasing power and puts upward pressure on bond rates, which have to factor in inflation protection so that real yields will be attractive to investors. What we need to understand here is that our government has an interest in keeping inflation both secretly high and officially […]