Monday, October 18, 2010

What's the business plan, Sam I am?

Many of us set out be our own boss, work from home, and all that good stuff.  But if you're serious about making money and growing a business, at some point you need a business plan.  What's that saying, if you fail to plan...?

Writing a business plan can be an intimidating task and all the "gurus" often make it seem like it's the secret handshake that gets you into a private clubhouse somewhere.  Well there's no need to dread writing your business plan anymore.

Here are 5 tips to help power up your business plan courtesy of the SBA:
  1. The business plan should tell a compelling story about your business, explaining who, what, when, where, how and why.
  2. Your plan should be focusd and clear.  It's not about the number of pages or style of the cover.
  3. The plan should define specific business objectives and goals with general parameters to guide the organization.
  4. Writing a business plan shoud force logic and discipline into a business.
  5. A good business plan should be a live document.  It should be updated regularly.
Those are good points and I'm sure you've come across many too.  I'm a take action person so how about a guide to help write your business plan?  The SBA has a great one that takes you through it step by step!

Check it out here:

One of my favorite quotes is "You were born a winner, but to be a winner, you must plan to win, prepare to win, and expect to win." -Zig Ziglar

Thanks for reading. Please comment and share.

"Building Wealth One Friend at a Time"

Thursday, October 7, 2010

What's an e-conference?

I wondered the same thing when I saw that Kitco was having one.  Being into Gold and Silver and being that I follow Kitco, I thought if anything else I'd check it out.

The Kitco eConference took place on September 12 and 13 2010.  It was awesome!  Have you ever been to a trade show?  Well that's what this was minus the travel, convention center and hotels. When I logged in the graphics amazed me as it looked like a virtual trade show.  It was very impressive. It took a little while to adjust but still awesome.

There were exhibitor booths that you can visit with reps that would chat with you once entered their virtual room.  You even get to download their info into a virtual briefcase.  Some of my favorites were Sterling Trust, First Majestic, and Austrian Mint.

There was a lounge where you can chat with other attendees and share business cards with them as well as exhibitors.

There were also special guest presenters that shared valuable information.  Some of the guests included Ron Paul, Marc Faber, and James Morgan. My favorite presentations were by Puru Saxena and Mike Berry.  Puru's presentation was a home run! 

The main reason I wanted to attend was to learn more about the mining side of the industry and investing in those opportunities. There was so much information that I keep going back and learning new things.  Oh wait a minute, did I say keep going back?  Yes.  That's the greatest part.  You can keep going back from the comfort of your home or office to continue to review and learn new things. 

If you have an interest in Gold and Silver then give it a visit or two or more.

Kitco eConference is still open!

Thanks for reading.  Please comment and share.

"Building Wealth One Friend at a Time"

Tuesday, October 5, 2010

What the US National Debt won't tell you, Gold and Silver Will?

I recently added a widget to the side bar that displays a clock of the US National Debt.  It's over 13 Trillion and rising quite rapidly.  So, what does that mean?

At first look, you see a number going up but this tells a contrary story for your "money".  The way I see that rising number is that's the rate at which the value of the dollar is declining.  That is the rate in which your purchasing power is declining.  I see it as the rate in which your wealth is being stolen.

I also see the price of Gold and Silver rising although not at quite the same rate, yet.  So my move is to get out of the depreciating dollar and move into gold and silver.

The numbers do tell a little white lie too.  You must begin to not think in terms of currency anymore.  Price is counted in currency and thus those rising and falling numbers.  Instead, think in terms of gold and silver preserving wealth and purchasing power.  When the dollar no longer has any value, how will you be able to buy food, shelter, water, etc.  When a fiat currency collapses, as they all do, the monetary system reverts to trading in gold and silver.

So don't think in terms of buying a house in dollars, think in terms of ounces.

Thanks for reading.  Please comment and share.

"Building Wealth One Friend at a Time"

Buy Gold Online Today at

Monday, October 4, 2010

Is Gold (and Silver) Real Money?

I am in the school of thought that says Gold and Silver are "real money".  Article 1 Section 10 of the United States Constitution says no state shall coin money other than Gold and Silver.  United States Code Title 12 Chapter 3 subsection 411 says to redeem your Federal Reserve notes into "lawful money".  Why can't I find any current definitions in the USC of what "lawful money" is.  I'd say it's because of a little "temporary suspension" in 1971 by former US President Nixon.

It doesn't take much for me to put the puzzle together and figure out that Gold and Silver are the lawful money that those Federal Reserve Notes are supposed to be redeemed for.  

Gold stores wealth and maintains purchasing power over time.  The fiat currency in the fractional reserve banking system is designed to go to zero.  Fail.  Then there's a reset.  A transfer of wealth.  You know the golden rule?  He who has the gold makes the rules.  This time, more people have access to the wealth transfer.  What side of the fence do you want to be on?

If you haven't noticed, the value or the purchasing power of your notes are going down.  Start being lawful and redeem your notes for Gold and Silver.

In the side bar of this blog there are many links to get info about Gold and Silver as well as other great financial sources of information.

I'd like to make special recognition to Mike Maloney's book How to Invest in Gold and Silver.  It's actually a book more about monetary history but its recurring theme, proven throughout history is that all the fiat currencies that have come before have reset and valued back to Gold.  I highly recommend reading this book.
Thank you for reading.  Please comment and share.
"Building Wealth One Friend at a Time"

Monday, September 27, 2010

Is Your MLM Waiving a Red Flag?

I have never been a fan of MLM.  I can remember when they were known as pyramid schemes.  Then they became multi-level marketing, then network marketing.  A wolf in sheep's clothing is still a wolf.

Many of the people I pay attention to used to frown upon MLM and now endorse it openly.  I wonder why?  In "these economic times" it's the business to be in, they say. Some of them have partnered with or have started their own MLM companies.

MLM uses legit terms and business practices to cover up the scheme. Words like direct selling, networking, leverage, and passive residual income.  They can help teach someone good skills needed to succeed in business but there are better ways to use those skills.

I came across the work of Dr. Jon M. Taylor.  He has the research that states that over 99% of people involved in MLM are not profitable.  He even has the tax returns to back it up.  I'm sure if you did a careful financial analysis you may find that your MLM business may be generating income but is it cash flow positive?  You can be going broke and don't know it.  You can check out Dr. Taylor's research on his site here.

On his site he has a free 48 page ebook that explains in details how to examine MLM's.  He even has an ongoing book series that is very interesting as well.  In one of his blog posts, he summarized his book.  The following are the 5 Red Flags you should be aware of when choosing to be involved in an MLM.

  1. Recruiting of participants is unlimited in a chain of empowered and motivated recruiters recruiting recruiters -ad infinitum
  2. Advancement in a hierarchy of multiple levels of "distributors" is achieved by recruitment rather than by appointment.
  3. "Pay to Play" requirements are satisfied by ongoing "incentivized purchases"
  4. Company pay out per ale for the person actually selling the product is less than the total of all the up;one participants, creating inadequate incentive to retail and excessive incentive to recruit- and an extreme concentration of income at the top.
  5. The Company pays commissions and/or bonuses to more than five levels of "distributors".
Check out the blog in full on his site here.  Be sure to download the pdf also.  The link is in the fist paragraph of the blog post.

 Be diligent with your decisions.  There are many alternatives to MLM.  In fact Dr. Taylor lists over 3700 of them on his site.  There is no quick and easy way.  You must not be afraid of good old hard work and elbow grease.  Don't fall for False Profits.

Thank you for reading.  Please comment and share.

"Building Wealth One Friend at a Time"

Saturday, September 25, 2010

Clicking vs Networking

This article was inspired by George C. Fraser.  You can find out more about him at his Facebook page here.

In the world of the internet, netowrking opportunites has exploded.  Finding people to connect with is no longer limited by location.  The amount of people to connect with is also virtually unlimited by the amount of resources the internet provides.  With all this access, has networking become bland?  With social media you see people with hundreds and even thousands of "friends" but how many of them do they click with?
Let us look at the difference between Clicking and Networking.

  1. Clicking is genuine.  You tend to desire to bond with those who have similiar likes and experiences regarding people, places and things.  Networking is superficial.  Often the connection doesn't go beyond the surface of what you have in common.
  2. Clicking is synergistic.  This is when both people bring their skills, resources, and energy to the relationship that benefits both involved.  Networking tends to compromise.  Both people or one may have to sacrifice and then both only partailly benefit, not fully realizing their potential.
  3. Clicking is based on trust first.  When you click with someone there is a trust and belief in the good of the the other person.  Networking tends to be a show and prove before I trust you.
  4. Clicking is about the relationship.  When you click, you are looking to build rapport more than "just business" over time for the long term.  Networking tends to be about the transaction, the lead, the sale, the job, etc.  Basically about the immediate now.
  5. Clicking is mutually beneficial.  People who click tend to use "We" and "Us" in terms of their interactions.  Networking is often selfish usually using the thought process of "what's in it for me?"
We all need to network.  It's the way to filter through to the people you click with.  When we go to a seminar, event, or meet someone online, the immediate time provided is for networking but then it's important to follow up and build relationships.  Click and build lasting weath.  Only network and you will always only be as valuable as your last sale.

Thank You for reading.  Please comment and share.

"Building Wealth One Friend at a Time"

Tuesday, September 21, 2010

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"Building Wealth One Friend at a Time"

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