Interview

More Question And Answers from Jim F.  Straw

Q:  I’m starting a small business.  How do I go about finding a management team and locating qualified employees?

A:  Whoa! — If you were to come into my office and ask that question, I would have a ho’bunch of questions for you before I could even begin to answer. — What kind of business?  Tell me all about the product or service?  Where will the business be located?  What is your background?  What are your financial strengths and weaknesses? etc., etc., etc.

If you are looking for a management team, your business is either very sophisticated - or - you just want someone else to do the work for you; while you pull the strings and make the profit.

Assuming that your business is sophisticated enough to need a management team, you can find good management teams advertising in the trade publications for your industry.  Once you employ one of those management teams, they will locate and employ the qualified employees to operate the business.

If, on the other hand, you are just looking for someone to do the work for you, I heartily suggest you get a JOB and stay out of the business community … there are already too many ne’er-do-wells pretending to be business people.

Q:   Who are your business heroes and why?

A:  My heroes are like my mistakes and failures … I couldn’t count them with all of fingers, toes and hairs on my chest.

I am forever in awe of people who succeed in business … any kind of business … from the local Mom & Pop grocery store to the mega-corporate types.

Any one who succeeds in business is my hero.

Q:  What do we need to learn to become business minded people?

A:  Hey … I ain’t got the time to write a thousand pages.

The main thing a wannabee MUST first do is attempt to lose their “consumer” mentality.  That means they must give up their attitudes about privacy, security and “the evils of making money.”

To succeed in any business, you must be willing to give up your privacy and rely solely upon yourself for your security. — You MUST let your customers know who you are … not just a fictitious email address … and where they can find you.  Otherwise, you are only playing at being in business.

Learn to respect “money,” in all its forms and embrace the fact that “making money” is NOT evil - but - there are some evil people who make a lot of money.  By and large, MOST people who make a lot of money are far more honest than the customers they serve.

Q:  What businesses would you recommend staying away from?  How can I spot an illegitimate offer?

A:  Who is the ugliest woman in the world? — Depends on who’s looking, doesn’t it?

As I have said before, there are millionaires in every imaginable business - so - if a business interests you, pursue it.

How do you spot an illegitimate offer? — To which the learned gurus would respond, “If it sounds too good to be true, it is.”

There are as many legitimate businesses that sound too good to be true as there are illegitimate ones. - Why? - Because, most beginning business people are still thinking like consumers.  They don’t yet know the real facts about business, so they dismiss legitimate business opportunities because they simply don’t understand the business of business.

For example:  Would you believe it if I told you that “passive” earnings of 3% to 7% PER DAY were possible? — Too good to be true? — But, it happens every day.  Then again, it doesn’t happen every day to the same person. — You can only do; maybe, 5 or 6 deals like that in a year’s time (it takes 30 to 60 days just to set up the deals) … even with the best sources and resources.  (I’ve done it more than once.)

That kind of offer would be known and acceptable in the International Forfaiting field … and those knowledgeable in that field would know it couldn’t be done every day - BUT - every day, con-men around the world are separating people from their hard earned money by promising those returns every day on every dollar invested.

You can’t tell the legitimate from the illegitimate in the business community until you fully understand the business of business as it really exists. — A knowledgeable money-man would know that the con-man’s offer was illegitimate because the money-man would also know that you can’t do a deal every day … even under the best circumstances.

The ONLY way you can protect yourself from illegitimate offers is by “knowing” the business of business.  That means losing your consumer mentality and studying the business or industry in which the opportunity may; or may not, exist.

Q:  How do I find joint venture partners and silent business partners?

A:  How do you find anything you want in business? — You “advertise” for it.

There is no big mystery about finding venture partners or silent partners.  You just advertise for them in the publications they read.

Every trade, industry, field of business endeavor and hobby has publications directed specifically to people who participate in those industries … the “best” are newsletters that; although very small in circulation, go to a very tight niche readership. — Get’em.  Read’em.  Then, advertise for the partners you need.

Q:  What are the most important parts of a business plan and how would I develop them?

A:  Whoops!  This question is a bit out of my field of knowledge.

Over the past 50 years, I have never found it necessary to write a business plan in order to interest investors.  I have bootstrapped all my businesses without financing. — SO …

I recommend you do a search on “business plans.” — I’ve read a number of good articles on the subject and remember receiving a FREE template for writing business plans from one of the Internet companies that provide business plan assistance.

By the way, although I have never written a formal business plan for any of my businesses, I ALWAYS have a written plan for doing any business in which I decide to get involved.

Q:  What would you say are 5 to 10 keys to your success in business & life?

A:  There are only two … study and testing.

No matter what business you attempt, you MUST study everything you can find on the subject of your business endeavor.  Then, you MUST test every method, concept and technique in that business until you find what works for you.

For example:  When I decided to go into the banking business, I bought over $3,000 worth of books on banking and the financial industry.  Read them cover to cover … all of them.  Then, I tested and retested methods to make my bank do what I envisioned it doing.

Another example:  When I got involved in gold mining, I bought copies of over $1,500 worth of gold processing patents; from the U.S. Patent Office.  Studied all of them until I had some ideas on how to get the gold from the placer deposits.  Then, I tested and retested those methods until I found one that worked.

Whatever you want to do in business, you MUST pay the price for your education.  You either pay for books on the subject, or you pay the price by cold, hard experience.  Then, no matter what you learn, you can only make it succeed if you test and retest what you have learned.

Q:  What online and offline companies/businesses do you use and admire?

A:  This is the kind of question that gets most beginners in trouble. - Why? - Because, all too often, beginners believe that, if they use the same resources as a successful person, they too will succeed.

Each person must make their decisions about what businesses, services, suppliers and/or vendors they will use for their business … based solely upon the value provided by the sources they choose.

For example:  Back in 1983, we went looking for a new typesetting system for our paper and ink publications.  We had been using the Compugraphics system … typesetting one line of type at a time; then retyping any errors, cutting & pasting them over the error. — Price quotes for a typesetting system with pagination were from $80,000 to $120,000. — Then I received information from one of my subscribers; Steve Jobs, telling me about the Aldus PageMaker that worked on his Macintosh computer. — The whole system cost me just over $20,000 … you can buy it today for less than $3,000 with a lot more bells & whistles. — SO …

You could say I use and admire the Apple Computers; with the new Adobe Pagemaker system and the fantastic PageMill website maker - but - that’s because they were the system I started with. — Would they be right for YOU … I don’t know.  It is, as always, a matter of perception.

Q:  What advice can you give the person who has “tried everything” but still can’t seem to put all of the pieces to the “success puzzle” together?

A:  Quit “trying” and start “doing.”

You can “try” to do something all your life and never get it done - but - when you quit “trying” and dedicate yourself; heart & soul, to doing it, you will succeed.

Pick just one thing.  Do it every day.  Test it every day.  Do it some more.  Test it some more.
“The work will teach you how to do it.”  –  Estonian Proverb

Q:  The internet is maturing - it seems more difficult to find a niche and separate my site from others.  Are the opportunities for the small start-up disappearing?

A:  Back in the late 1800s … before automobiles & airplanes … it was decided to close the U.S. Patent Office, because, “Everything that can be invented has already been invented.”

Niche marketing is great - BUT - instead of trying to “niche” yourself into a marketing corner, try expanding your efforts to include others into your niche by either adapting your  product to a larger niche;  or finding another audience for your products outside your niche.

As an example …

When I wrote the report the report, “Get $1,000 - $5,000 Free & Clear Within 30 Days!,” it was directed toward people who needed some help with their financing. — Then, I started receiving notes like this one that I used in an ad campaign for it. — Here’s the actual email message I used …

In the information publishing business, THIS is what we live for:

Cynthia P. (Pismo Beach, CA) recently bought my report, “How To Get $1,000-$5,000 Free & Clear within 30 days.” — She sent me this and I got her permission to share it with  you …

“Just wanted to let you know, I ordered your report about making $1,000 in 30 days. — I’ve made $400 in just under 2 weeks, and can’t believe how easy it seems to be (well, aside from the ‘elbow grease’). I’ve teamed up with my teenage son, and expect to really go at it over the next month or so. He is wanting money to buy his first car. — I’m happy to have found something we can do together, and that he will now also have as a ‘fall-back’ in the future.”

If you want to learn what Cynthia learned, check it out at:

http://www.businesslyceum.com/FreeClear.html

That  opened up a whole new market for the same product.

Then other readers found another market for the report and I included it in a new campaign.  — Here’s the actual email message I used for it  …

Over the past 3 months, 8 of my readers have told me about the great-gobs of money they are making on “eBay” using the method I teach in my report, “Get $1,000 - $5,000 Free & Clear Within 30 Days!”

But … but … but … the report has absolutely NOTHING to do with selling on “eBay.”  As a matter of fact, “eBay” isn’t even mentioned once in the report.

My readers tell me the quality merchandise they get for Free, using the method in my report, sells like hotcakes on “eBay” - and - because the merchandise is Free, 100% of everything they sell it for is pure profit.

SO … if you’re into “eBay” selling, you might be able to do the same thing. — Check it out at:
http://www.businesslyceum.com/FreeClear.html

Hey … it’s only $10.  A pittance to pay, since my readers tell me they are easily making $1,000 to $5,000 per month using the method I explain (in detail) in “Get $1,000 - $5,000 Free & Clear Within 30 Days!”

Try it. — You’re bank account will love it.

I feel sure, in time, there will be another unseen “niche” appear for that report … I just ain’t thunk of  it, yet.

When it comes to the  Internet, “It won’t be over until YOU say it’s over.”  Which will mean that YOU have  given up on  the Internet … not that the Internet  has quit being a viable market place.

Q:  What software tools do you use to automate your business?

A:  Actually, I use very, very few automation programs for my business - and - neither should you, unless you know for an absolute fact that those programs will benefit YOUR CUSTOMERS … not just your desire to get out of doing the work.

Until just a couple years ago, I did ALL of my Internet marketing on a 14.4K dial-up modem connection …  not because I wanted to but because that  was the only connection available out here in the woods. — I consider that one of the most fortunate problems I have ever encountered.

By only having a very show dial-up connection, I was forced by circumstances to devise ways to accomplish the things I needed to do in order to serve my only assets … MY CUSTOMERS.  That made me develop the best methods  to serve my customers.

When I did get faster dial-up connection, I found that the systems I had developed were far better than any  of the “automation” programs I could find.  Although the “automation” programs did “speed up” the process, they (in too many cases) abandoned my customers … making my customers no more than a series of email addresses; rather than the “real  people” my methods serve.

So … before you “automate” determine whether it will serve your customers or will it only serve your desire to get out of doing the work.

Q:  What standard of computer knowledge do you have to develop, to run a successful Internet business?

A:  Have you ever heard  it said, “A poor workman always blames his tools.”

When I started on the Internet, I  was just about as computer literate as an ol’yella cat.  Today, I know more than the cat and I  am constantly reading, studying and learning anything and everything I can about my tools …  my computer and the applications I need to make it do the job I  want to do.

Anyone with basic computer skills can run  a successful Internet business - but - those of us who are making the  big bucks are unceasingly studying and learning about the tools we  use  in our profession.

You’ll never know enough.

Few years ago I interviewed Jim F. Straw for one of my book. On Sunday (yesterday 9th of march) while at Sheraton hotel’s (lagos) lobby waiting for a US business partner (to be) I met the publisher of moneywise magazine Mr Ayo Arowolo.

After exchanging greetings with him I started thinking of how reading his column in financial standard (then) helped me. While still in this thinking mood I remembered my interview with Jim Straw as well. It was a very interesting experience.

I am very sure you will learn something from the interview article.

Enjoy yourself.

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