Money Knowledge for Your Success
(Caution: You are entering a hype free zone.)
July 10, 2001
INTRODUCTION
This webpage is dedicated to find ways to reduce your financial risks and give you chance after chance at success until the odds in your favor finally overcome the barriers to achievement. Yes, it's all about (plainly speaking) making money. If concepts like financial success, economics, the stock market, internet marketing, and developing business ideas don't melt your butter, then you should move on. The path to success today is not the same as your father or grandfather walked. And it's a whole new ballgame.
Nearly all of us have no choice when it comes to our finances. We must have a retirement nest egg and generate earnings for our standard of living. The problem is that a corporate job or traditional small business faces risks and uncertainty greater than ever before. It's a statistical fact that consumer and business bankruptcies rose throughout the last economic recovery, as well as during the current malaise. The ideal would be to have very little or no risk diversified into several high potential businesses. The individual's (entrepreneur's) time and capital would not be at risk disproportionately to the actual probabilities of success in a business.
STEP ONE: Invest in Stocks?
So how do you get into high potential, low risk business opportunities? One way is to invest in stocks at very low prices with good balance sheets, great management, and classic business plans. Near the bottom of this website is my March 22 commentary, which listed four very sound stocks. All of these stocks have gone up. If you still own EPIQ Systems, you should sell and take profits. There are other securities opportunties that will avail themselves as soon as certain industry conditions improve.
STEP TWO: Get into high potential very low risk businesses.
The first way to reduce risk is to simply not invest much money or put a lot of time into a business venture. This is normally a recipe for certain disaster. However, the advent of the internet and the proliferation of products has opened the possibility of introducing products or services to a mass audience without great risk - and with the potential to make the businessman rich.
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STEP THREE: Save your life by escaping from high costs. Buy at steep discounts. DHS Club is one way to buy at steep discounts to prices paid by the everyday Joe. For example, you can stay compliments of national chain hotels in choice locations, including those in Florida;
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AUTO CLUB DISCOUNTS
AUTOMOTIVE DISCOUNTS (Firestone, Precision Tune,
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CRUISE VACATIONS DISCOUNTS
CAR RENTAL DISCOUNTS
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Live comfortably but stop paying double retail for much of your purchases. Millions live in uncomfortable, overcrowded and expensive environs. Why? They feel like they have to! That's where the "job" is. Strangely enough, some of the least expensive places in the world are also the most climatable and least polluted. Of course, if you love the nightlife of the City and want to be near all your friends in a high cost area, you can still cut your spending budget and live higher by BUYING WISELY.
Your Success Depends on Discovering Business Secrets
Most of us find that it is unrealistic to expect to retire or live comfortably even while working without some kind of business success. One can be successful and still end up with very little wealth or time to enjoy your just and sweet deserts. Since our time on this Earth is limited, the wisest of modern men have focused their efforts on speedily gathering and manipulating information to make timely judgement decisions, communications and other actions to earn profits. The application of technology and modern management methods give competitive advantage to the individual whose efforts are directed in a way suitable to optimizing customer preferences and personal profits. The successful individual under the entrepreneur model has taken action discovering the secrets of business success.
While most of successful entrepreneurs find that duplicating techniques and methods of others (when applied with management and/or technological savvy) render good results, the greatest self-made businessmen have applied something new, different or somehow better than the way their competitors conduct affairs. However, others became wealthy by jumping on the bandwagon because they saw the vision early that the brilliant entrepreneur manifested. The first Coca Cola bottlers, the first McDonalds restaurant franchisees,the early auto dealers and insurers, electric utility suppliers, Amway salesmen, etc., etc. all took advantage of the new ways of doing business with novel or better products. However, everyone knew that technology was changing things at the time that some businessmen were rapidly growing their incomes. And only a relative few could take advantage of the new opportunities. So what makes for the successful entrepreneur who lives well and still builds a safe retirement?
Not a "Safe" Game
First you have to realize that being self employed is not safe from layoffs, economic contraction, inflation, politics, or bad people. All of these are touted as reasons to avoid the corporate grind because so many people are keenly aware of these dangers in a corporate or institutional environment as a result of experience. The problem with being self employed revolves around the fact that all of the corporate dangers remain while some very personal and new dangers are created. First, as self employed, you must rely on yourself. Sounds easy? Not really.
Good intentions don't count. You have to write out specific, measurable, viewable, scheduled and highly desirable goals. Without excellent goal creation, you become unreliable.
You know people who show up late to meetings; commit to bring things and forget; borrow money or things and don't repay; perform sales pitches with hollow promises; cheat; steal; lie; or otherwise screw people around. Those people often do not reach highly desirable goals. If you have one or more of these traits, change. Change very quickly.
On this last point: We're all human and have done some bad things. You must add "liar" to your faults if you dispute this fact of life. Plus we have reasons and excuses to do things that make them understandable. Most likely, you've worked for a company that sold a product and didn't perform as advertised. If you were in support staff, you might not have had the tools, training, or assistance to perform for the customer. If you were the salesman, then the customer considers you unaccountable. You say, "What are you going to do? I was supposed to be there at 8:00 and I thought it was at 9:00 per my e-mail from Bob?" or "We're gonna' starve if we don't get some decent products and support. Half of my best customers are mad at me because we're not deliverying as promised."
The Reliability Test, the true measure is different for everyone but it invariably involves PERSISTENCE. It's true. The chips were down, sometimes WAY DOWN, for almost every single successful businessman. Those success stories teach the lesson, "Stick to your guns. Concentrate your efforts directly against the obstacle." Strangely enough is the phenomenon I call the Paradox of Persistence.
Paradox of Persistence in Flexibility
Persistence implies fixed course, constistency, and even stubborness. But in fact, the persistent man constantly reveals flexibility. If you can't make your goals by selling to the old customers, you go get some more. If you can't sell a supplier's goods, you obtain a different product. If you can't beat your competition, you coopt them or select a different market. Your employee isn't carrying his weight, you go find someone else to do the job. Biologists will tell you that the most flexible part of a system tends to control a system.
The paradox of persistence states, "The object with the greatest product of the formula as measured by it's array of flexibility times one tenth the sum total of it's hours of persistent effort will be most prosperous and exert the greatest control over the system in which it operates." Meanwhile just as much effort is expended by the ordinary Joe, who goes to the same job or set of jobs within a career. He is persistent in his paternalistic behavior, ie. to a fault. New ideas, ways of competing and change in general are anathema to ordinary Joes. Biologists will tell you that the most flexible part of a system tends to control a system.
Below is my commentary of March 22. I will update the commentary some time late in the summer of 2001.
March 22, 2001
COMMENTARY
Odds are that the stock market storm will let up when the Federal Reserve cuts rates on March 21. Only the Fed governors (and possibly their closest friends) probably know the size of the Federal Funds rate cut. However, the stock market's technical indicators reveal extreme oversold conditions. Some, but not all, indicators reveal extreme short term bearish sentiment, a bullish sign.
The Put Call ratio, as measured by the Chicago Options Exchange has reached a bullish 1.07X. Normally defensive stocks known for the underlying companies resistance to downturns in the economy have sagged badly throughout the week. The IBD's (Investor Business Daily) Defensive Index was down nearly 8% over the past three months!
In regard to the world economy, the tight money policies of the European Central Bank are applying considerable downward pressure to European economic activity. The long term business climate is slowly deteriorating in Euroland for a number reasons too numerous for purposes of this web page. The prospect for war in former Yugoslavia has increased once again, as ethnic Albanians flex their muscle in economically depressed Macedonia. An eventual pull out of American troops from Bosnia is all but assured. A symptom of future, ongoing political problems emanates from the imprisonment of one Bernard Connolly, a British ...er Euro citizen and economist that once worked for the Eurpean Commission.
"THE ROTTEN HEART OF EUROPE"
Connolly's book, entitled "The Rotten Heart of Europe", wrote that the Economic and Monetary Union threatened democracy, freedom and "ultimately peace". Advocate-General Damaso Ruiz Jarabo Colomer filed charges under the "Charter of Fundamental Rights", which states that any EU citizen's rights can be taken away if doing so "meets the objectives of general interest recognized by the Union." The ruling did not say that his charges were false, only that the European Commission could punish those whose comments "damaged the institution's image and reputation." It seems that there is no such thing as a Bill of Rights in Euroland.
It's easier to be more sympathetic to Japan, where a long term bear market has torn away the net worth of corporations, individuals and banks. While employing admirable discipline in so many ways, including saving money, the Japanese have failed in recognizing falling asset values on their banks' books. On April 1, the tortuous process of marking their real estate and eq
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Copyright © 2001 Clif Walters. All Rights Reserved