Archive for the ‘Money & Equity’ Category

My phone rang this weekend and on the other end was Ed. Ed and I have known each other since high school days. After college, I started my entrepreneurial pursuits and he started the climb up the corporate ladder. By any measure, Ed has had a very successful career. He enjoys his job and makes [...]  Read more »

Most people know how they would answer the question, “What would you do with a million dollars?” The replies are usually about stuff – new house, new car, bigger this, bigger that. Or experiences, such as travel, staying home with the kids, or getting a college education.  Read more »

Mistakes? Not me. All right, all right. I’ve made a few. More importantly, I’ve seen it all. And in my experience, if you can avoid these whoppers, your success is almost guaranteed.  Read more »

VIDEO - Mike's Vlog on Holy Grail  Read more »

Ingenuity is one of the greatest assets you can have in business. It’s more important than money, connections, and education put together. Creative ideas and solutions are the Holy Grail of entrepreneurialism, and every great quest requires boatloads of the stuff in order to reach the destination.  Read more »

VIDEO - Mike's Vlog on The Bottom Line  Read more »

Who is more successful? Bill and Melinda Gates or this father and son: Over the past thirty years, Dick Hoyt and his son Rick have completed hundreds of races, including more than sixty-five marathons, more than two hundred triathlons, and six Ironman races. This is an amazing feat for anyone, but when you take in to account the fact that Rick was born a non-speaking spastic quadriplegic with cerebral palsy, it’s downright miraculous.  Read more »

VIDEO - Mike's Vlog on Competitor's Numbers  Read more »

Analyzing your competitor’s revenue is a helpful tool in measuring your own progress and potential. Duh. It’s not rocket science. You won’t beat ‘em if you can’t find the finish line. So how much are your competitors taking – or raking – in, and how the hell do you find out?  Read more »

Mike's Vlog on Mom's Basement  Read more »

I just ran a quote for my family of four, and found that a plan costing $604/mo had a $7,500 deductible for Primary Care & Specialists, a $500 deductible for prescriptions, a $35 co-pay for office visits, and only allowed two office visits per year. What a rip off! This is just one crazy example of why there are 48 million Americans who are uninsured today. Insurance plans are just plain complicated, too expensive, and many people simply don’t know what questions to ask when looking for a quote. Too many people are flushing their hard-earned money down the toilet. There is a better way, than pay big bucks in premiums every month.  Read more »

The other night I was talking to a friend who dreams of opening her own business. She has the resources and the talent, but she lacks the self-confidence. I have consulted with hundreds of entrepreneurs about building their business, and I am absolutely sure that more than money, contacts, and talent, the most important thing any business builder needs is confidence. What happened to her confidence? Probably the same thing that has happened to many potential entrepreneurs, she works for a very large corporation. This large corporation provides her income, health care, retirement plan, security, and more. What she trades in for these things is her freedom.  Read more »

Here's my video on a Penny Saved!  Read more »

As useless as they may seem, your success hinges on pennies. Pennies are the bottom line of your business, and if you don’t got ‘em, you’re sunk. Most wannabes focus on the top line, the magical millions that may as well be Monopoly money for all you can do with it. They rarely consider the true cost of doing business – the product, payroll, insurance, taxes, taxes, and taxes.  Read more »

The 17 Greatest Entrepreneurial Blog Posts of 2008 (So Far) - I regularly read and comment on blogs about entrepreneurialism. Over the course of my internet “travels” during 2008 I’ve found what I believe are the seventeen best blogs out there. And within each blog I found, check out what I believe are the best posts:  Read more »

Italy’s 1800’s famed economist, Vilfredo Pareto’s, determined that 20% of the Italian population controlled 80% of the country’s wealth. Likewise, 20% of the country’s wealth was controlled by 80% of the population. This observation can be applied to many facets of business and life. But buyer beware, this formula doesn’t apply all the time.  Read more »

Who knows you better than your Mom, Dad or your good old Uncle? But even if they’d like to help, they may not have the money. Worst case, they do have the money but your business tanks. That will make the family get-togethers a little uncomfortable to say the least! This is when you may want to turn to outside investors.  Read more »

We’ve all heard that cash is the lifeblood of our business. I think it’s hard to argue otherwise. Shouldn’t we treat our money like our business’s blood? Just like a medical emergency, a business in need of fiscal attention often requires an infusion of capital.  Read more »