New site Quotes by John Wooden

The new site Quotes by John Wooden has the coach's quotes plus discussion. John Wooden was the winningest championship coach in the NCAA, but he was also teaching people about life. Read his famous quotes on this site.

My All Time Favorite Real Estate Get Rich Seminar Guy!

Tommy Vu is no longer in business or giving seminars, as far as I know. I do not endorse his seminars (even though they are somehow free) but I have always loved his ads - please enjoy my favorite all time infomercial guy from the 1980's in this youtube compilation. My favorite part is at about 2:40.

Combination of talents and experience to give you a Sustainable Competitive Advantage

This phrase is not new to me. But it perfectly describes the requirements for a long term successful company. Something has to be going on at the company to keep people coming back for its product or service. At Apple, its the highly innovative and functional products which have created a cult following. At the local bakery, it is the genius in the kitchen who creates delicious treats worth spending money on, and making you drool about the taste. At Starbucks, it is.....I'm not sure. But it must be something because it makes the company unique. People want to go there (OK, the employees have that Southwest Airlines type spirit!)Somehow Southwest Airlines has stayed unique and fun all these years, and now they have over 30,000 employees. Can they keep it up? Can you define why you like them? If you've ever flown on Northwest Airlines, contrast the experience and maybe it will be clearer to you.

The Donald May Run for President

As per today's radio broadcast on The Sean Hannity Show, apparently Donald Trump may run for President! He has some great ideas - such as making Iraq pay us back the 1.5 trillion Dollar cost of the war - plus paying every injured soldier a million dollars, and a million dollars to the families of the soldiers killed in the war.

Expert Skills Which Will Keep You Ahead of the Competition

If you like what you are doing, this will come naturally. This is what everyone thinks you are doing by running the business. This is why they come to you. You are an expert in your field. You will have to let people know, and give speeches, hold workshops, teach a class, etc. The by now famous E-Myth refers to the fact that everyone sees the small business owner in a sea of bliss doing what he loves. You will need to have this skill, if not immediately, then develop it along the way. Don't buy the business in the first place on this alone, however, unless there are people out there besides your mother who agree you are an expert.
If being an expert in your field is your only business qualification, if you don't meet the other criteria - you could be in for trouble.

Power Balance Band is a Scam - Admitted by Company

Those of you wearing them can take them off now!!!
See article.

Take over (purchase with borrowed money)

One of the best situations to purchase a business occurs when you have been running the business you wish to buy. You have earned a position of trust, you have taken the reigns, you've been the responsible party. In this situation no one is going to just give you the business, but if you have run it for 3 years and increased the profits, they will often give you a good deal on financing. Expect to pay the normal price, but you should know best what has been taken out of it, and you will get your own chance to improve it. You should expect to take a pay cut of a sort to build up equity.
Here is an example. Say you are running a small restaurant without property, but a reasonable rent that will stay close to the same. Let us say it does about 600,000/year in sales, with about 90,000/year going to the owner while you really do the work, and get about 60,000/year. It might sell for around 450,000 on the high side, depending on numerous factors, such as equipment quality and age, last update of the interior, etc. (consult a business broker for more exact figures of actual sales) At 5% interest on a 5 year note, your payment would be 8500 per month, or 102000 per year. Cut your own pay by 12000 per year, and after 5 hard years you will have paid off your loan, and built up equity. Then, you could hire an assistant and still make up for the loss of pay. Further, you now own it!