THE FOUR THINGS YOU NEED TO SUCCEEDWritten by Josie Ash
Essentially, there are only four elements to being successful in a business, but these four are absolutely indispensable.1. Education. You may be able to start a business without knowing much about particular field you've entered, but you won't last for long haul if you don't learn everything you possibly can about it. Getting educated will require reading, attending classes and seminars, and doing research - on and off-line. Not only do you need to learn everything you can about your particular industry, but you need to stay current in it, as well. This need for education extends to anyone who works with or for you, too. Training is an essential component of whatever you have to offer an employee. With most industries changing at speed of light, you can never be 'too' knowledgeable in your area of expertise - and everything you know about it may give you an edge over your competition. 2. Technology. You must have all tools you need to succeed. Very few businesses can make it on 'brawn' or even 'brain' anymore. It is essential that you take full advantage of whatever technology is available to you today because if you don't, you can be assured that your competition will. And again, it will be vitally important to keep abreast of any changes in that technology, too, and be prepared to upgrade as you go. 3. Positive Cash Flow. This is, of course, one thing that everyone gripes about, worries about, and loses sleep over - and many people who are in business don't even know for sure what it means. Put simply, having a positive cash flow means that you have more money coming in than you have going out - not necessarily on any given day, but generally, over a month's time or even a year.
| | JIM FINUCAN’S BILL COLLECTING Q & A Issue #1Written by Jim Finucan
Dear JimI keep running into guys who say they just don’t have money. When I hear that I start to lose my resolve. What can I do? First, you need to be absolutely convinced in your own mind before you even start call - that you deserve to be paid and you’re going to get money. Everybody has it within themselves to fight for what is theirs. Think of your past accomplishments and get yourself pumped up ahead of time. It’s essential that you to come across as strong and determined on phone, otherwise debtor will sense your weakness. And you can bet that he will try to use that weakness against you. When he says he doesn’t have money to pay you, start asking him questions about his financial situation. Is he paying his employees these days, or are they working for vouchers? Has he made any major purchases in last 60 days? Could he get approved for a loan? What kind of car does he drive? What’s his average annual income? He’s not going to be prepared for all these questions so he’ll have to think fast - make up lies on-the-spot. One of them bound to be ridiculous and thus easy to spot. When it comes call him on it. It’s time to shame him and shame him good
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