Not
ready to close your business? Proven steps for turning failing
business around.
Some business owners feel as though they are against a wall with
debt and contractual obligations. They are exhausted. Their leases,
loans, and contracts pile up, while their money dwindles. Their
business is ruling their life and they just want to get out.
As a frustrated business owner, you may find yourself in this
situation. You may have tried to turnaround your failing company
with little success. And if you have no buyer on the horizon, you
may have decided you've had enough. It's time to close your doors.
But how do you go about doing this? You will find rows of books
at your local bookstore that cover how to start a business, but
little on how to close one. How will you meet the obligations of
your loans and lease? Do you owe money to the IRS, individual agencies,
or contract workers?
There are many items to consider when you close a business. And
you have some choices to make when it comes to getting rid of debt
and folding your company. Let me explain.
Straight
talk about business bankruptcy and closure
The 4 Major Enemies to Online Success Copyright 2005 Chris Stirling
For any of you just starting in online marketing you will soon learn it is not as easy as you probably first thought. If you are like me you signed up to a affiliate program and just expected the money to come flying in. Unfortunately this is not the case, but do not be discouraged, there is hope. As the story below illustrates if you are patient, persistent and not distracted by the 4 enemies to success soon enough the money will start rolling in just as it does today for Mark Yarnell.
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Mark Yarnell, minister in a small town in Texas, was headed for bankruptcy and just about to lose his car and home. He looked for a way out and discovered Network Marketing. Luckily, he had a wise sponsor. The sponsor gave Mark "THE PROMISE": THIS BUSINESS CAN SET YOU FREE FINANCIALLY IN ONE TO THREE YEARS. But he also gave him "THE PRICE": TO SUCCEED, YOU WILL HAVE TO FACE AND CONQUER 4 MAJOR ENEMIES. Mark said, "It's a deal."
Mark then invited 200 friends over to his house to watch a video. 80 said "No, not interested."
Mark had encountered ENEMY #1: Rejection.
He thought, "No problem. My sponsor warned me about that. I've got 120 people still coming over." Guess what? 50 didn't show up.
He had just met ENEMY #2: Deception.
Mark thought, "No problem, my sponsor warned me about that. I've got 70 people who watched the tape." Guess what? 57 said, "Not interested."
He had just encountered ENEMY #3: Apathy.
Undaunted, Mark thought,"No problem. 13 people signed up." Guess what? 12 of them dropped out of the business shortly.
ENEMY #4: Attrition had left Mark with just one serious associate.
To this day, that single distributor earns Mark over $50,000 per month. You may have heard of Bill Britt, one of the most successful distributors in Amway. Some years ago, 20/20 did a feature story on Amway. They spent 19 minutes interviewing whiners and complainers - several distributors who had failed and showed the garages full of products they couldn't sell. During the last minute of the show, Mr. Britt was interviewed in front of his palatial home. He was asked, "Mr. Britt, this business has obviously worked for you. What's your secret?" He replied, "There is no secret. I simply showed the plan to 1200 people. 900 said, 'No.' and only 300 signed up. Out of those 300, only 85 did anything at all. Out of those 85 only 35 were serious, and out of those 35, 11 made me a millionaire."
Like Mark Yarnell,Bill worked through the numbers.
(*) Jason Boreyko, now president of New Vision, told this story recently. When he was a distributor in Matol, he signed up 50 people. He heard a lot of "Nos." on the way to those 50. Jason took one man, who he knew would be terrific in the business, to lunch, told him about the business and the man said "No." Jason took the man to lunch again the next month and told him the updates. Once again the man said, "No." Jason sent him some more information and took him to lunch again the next month. And again the man said, "No." That went on for six months. The seventh month, something had changed for the man, and he said, "Yes." That man made Jason over one million dollars. Jason also worked through his numbers.
(*) According to Richard Poe in "Wave Three", while starting Amway, Rich DeVos and Jay Van Andel, America's eleventh richest people, recruited 500 people. 495 dropped out. The five that didn't quit built Amway. All $7 billion of Amway's business was built under those 5 people. Jay and Rich had to work through their numbers. There are many similar stories.
Here's the lesson: Your success is directly related to the degree to which you are willing to work to find others like yourself who are committed to succeed. Mark Yarnell's odds were 1 out of 200. Bill Britt's were 11 out of 1200. Jason Boreyko's odds were 1 out of 50. Would you be willing to go through 200 people to find the 1 who will make you $50,000 a month? Or go through 200 people to become a millionaire? Or hear uncounted "No's." to sign up 50 people to find a million dollar person? I hope you will.... It's easier when you know the odds up front. But here's the catch: You have your own set of odds and you won't know what they are until AFTER YOU'VE SUCCEEDED.
So if you've gone through 50 or 100 people and you haven't found 1 serious person yet, you can either give up and assume the business doesn't work, or recognize that you are working though your own numbers.
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This story applies to everyone of us! I don't know what my umbers are yet but I will know soon. Are you willing to find out what your numbers are? Keep up the good work & keep the faith!
Be a self-motivator and continue moving forward towards the goals you want and deserve.
About the author:
Chris Stirling's website is geared for people who are interested in finding an online work at home opportunity or starting a low cost or free Home Based Business. If you would like to learn more visit his website at: http://www.stirls.com
For his Top Picks Home Business Newsletter visit http://www.stirls.com/bizopps-newsletter.html
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Straight
talk about business bankruptcy and closure
Stuck With A Zero Marketing Budget For Client Gifts?
Would you really dare to give each client a gift of $500 this Christmas? What about something worth $2000? Or maybe $5000? You think I’m joking right? I mean, here you are struggling with your 50 cent marketing budget and I’m giving you the key to your bankruptcy. At Christmas time, too! Step up to the roller coaster and you’ll find out how Marie beat the system with some simple, yet smart marketing tactics and how you can too. Yeah, just like that…Marie Ain’t No Santa Claus!Nope! She’s just like you and me.She can do the Ho! Ho! Ho bit, until she’s faced with the prospect of expensive clie. . .
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