Corporate Altruism?
Issue #2217
- WEALTHY: 7 ways to start and grow a non-profit (Michael Masterson)
- HEALTHY: An exercise that burns calories even after your workout (Craig Ballantyne)
- WISE: Gordon Gekko on greed
ALSO IN THIS ISSUE:
- The truth about greed (Robert Ringer)
- Business advice from a top network exec (Debra Lee)
- It’s Good to Know… about fingerprints
- Add "overweening" to your vocabulary
How Many Automatic Income Streams Can YOU Handle?
The Internet has now come of age as the most incredible marketing tool in history.
Think about it for a moment… It’s possible to spend no more than a fiver, write a couple of basic ads, and have instant access to millions of potential customers all in a matter of minutes!
This has created a real “sink or swim” situation. Those who master Internet secrets will profit massively. Those who don’t are simply doomed to sit on the sidelines and watch others make the real money.
Jim Sheridan’s plan banked him $187,296 in one day. The great news is - you can copy Jim’s plan exactly. The program is called Instant Internet Income and I guarantee it does exactly what it says it does.
Take a look at how Jim brought in over $187,000 in a single day!
- Patrick Coffey
Dear Michael Masterson: "What would be the best way to raise money for my non-profit?"
"I am in the process of establishing a base for my soon-to-be non-profit geared toward helping inner-city females (ages 8 to 18). Our purpose is to build decision-making skills, self-esteem, self-respect, self-worth, and, eventually, self-reliance. Currently, we use space in a township facility. What would be the best way(s) to let people know what I am striving to do, as well as raise funds to help support us in our endeavors? My ultimate goal is to own my own facility and perhaps do some transitional housing, training, and preparation for work."
-S.Y.
Irvington, NJ
Dear S.Y.,
I’m not a specialist in non-profits. Generally speaking, I don’t believe in them. When an enterprise lacks a profit motive, it tends to become political and, therefore, corrupt. That statement may surprise you. I’m sure you look at non-profits in a completely different way. You no doubt feel that the desire for profits is a bad thing. We could have a good, long conversation about that some day.
In the meantime, let’s see what I can do to help you.
First and foremost, you have to be able to answer the question: "How can I grow this thing and make it strong?"
That is, more or less, the question you are asking me. So let me throw out a few ideas.
1. Understand that money fuels growth - even for non profits. You need money to get started and money to expand.
2. Recognize where that money is coming from. For the most part, it will come from two different sources: affluent do-gooders and governmental agencies.
These, then, are your "customers." For the first few years, you will have to spend most of your time and effort "selling" them on donating money to your non-profit. Most non-profit entrepreneurs don’t do that. In the early stage of their venture, they spend the lion’s share of their time developing programs - more programs than they need to get the money.
3. To get government money, it’s a relatively simple process: Investigate grants that would apply to your concept, and apply for them. It will be cumbersome and time-consuming - but if you are willing to follow the rules, you should be able to get some funding.
4. Will that government funding be fast enough and big enough to float your boat? Probably not. And that’s where private money comes in. To get private sources to fund your dream, you are going to have to come up with a very engaging USP (unique selling proposition). In other words, you’ll have to come up with a concept that is in some exciting way new and different from that of other, similar non-profits.
5. To come up with that USP, I’d recommend that you find out as much as you can about organizations that support young girls in urban centers. There are probably hundreds (if not thousands) of them in the U.S. alone. Find out who they are and which are the most successful. Call the people heading up the most successful ones and interview them. Be gracious. Make friends. They will help you later.
6. Study the theory behind organizations like these. Be able to quote persuasive data in casual conversation. Give yourself the goal of becoming one of the world’s top experts in the niche you are entering. If you spend 5,000 hours studying and talking to professionals in your field, you will rise to that level.
7. Locate affluent people in your community. Find out where they socialize. Find out where they work. Meet them at parties and events and chat them up. Send them personal letters. E-mail them. Your initial goal should not be to raise money. If you come at them directly, they will back away. Remember, wealthy people are always being hit up for donations. They are good at refusing - but less so when they are being asked by someone they like and trust. You have to become that someone. How can you do that? By developing relationships with them that are based on them talking to you. What do I mean by that? Read Dale Carnegie.
There is much more I could tell you, but what I’ve said so far is 80 percent of what you need to know. If you follow my advice, your chances of success will be very high.
Good luck… and let us know how you are doing.
- Michael Masterson
[Ed. Note: Have a question for Michael Masterson? Write to him at AskMichael@ETRfeedback.com.]
Reader Feedback: "This adventure was unplanned, but right in front of me all the time."
"After years of wondering and experimenting with all kinds of investment and small-business strategies, I’d given up hope of ever finding my ‘business niche’ in the world. After all, I’m 50 years old with 2 kids in college and enough financial commitments that risking my family’s future on a business of any kind seemed unwise.
"Then… somebody gave me a motorcycle. It sat in my garage for 7 months, neglected and taking up space. And one day, a friend said, ‘We should part that thing out. There’s money in those old, original bikes.’
"A month after we starting selling parts on eBay, we had made $1,400!
"So we took the money and bought five more old motorcycles.
"Now we have a garage full of bikes and enough parts to build a nice little pile of money.
"Best of all, this adventure was unplanned, but right in front of me all the time.
"Motorcycles have always been a passion for me. This thriving little business is an expression of that passion, and may just be a pathway to leaving the corporate world of un-identity and launching into a world of my own design.
"Thanks to Michael Masterson for encouraging me to always be on the lookout for that opportunity which represents a future life by design and not by default."
-Hal Johnson
Omaha, NE
[Ed. Note: How has reading ETR helped you - maybe even changed your life? Send your comments to ReaderFeedback@gmail.com. Include your name and hometown… and we may print your e-mail in a future issue.]
"Greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind."
"Gordon Gekko" in the movie Wall Street (1987), screenplay by Stanley Weiser and Oliver Stone
Corporate Altruism?
To the great dismay of the "corporate America is evil" crowd, Wal-Mart, Chevron, Bank of America, Verizon, and many other large corporations pledged millions of dollars in aid to fire victims in southern California. So, doesn’t their generosity demonstrate that corporations really do have an altruistic side? Doesn’t it prove that pudding-head socialists are wrong about corporate greed?
Brace yourself. Would you believe that I agree with the lefties who insist that corporations are not altruistic and that they are greedy? How in the world can I - one of only eight pure laissez-faire capitalists left on the planet - say such a thing?
Because the fact is that greed and self-interest are not only moral from the point of view of corporate shareholders, they are the psychic fuel that makes the economy grow and motivates corporations to provide better products and services for everyoneat the lowest possible prices. These are the marvelous, unintended consequences that Adam Smith wrote about so eloquently in The Wealth of Nations.
The fact is that greed is neither good nor bad. It is simply a human trait. Greed is technically defined as "an excessive desire to acquire more than what one needs or deserves." And since no one has either the moral authority or omniscience to decide what is excessive (let alone what a person needs or deserves), what greed really means is desire. And everyone has desires - for wealth, power, prestige, love, understanding. No end to the list.
Thankfully, corporate leaders have a desire to make as much money for their shareholders as possible. And that desire, in turn, is fueled by their more personal desires to hang onto their high salaries, generous stock options, prestige, and perk-laden positions.
Thus, as a result of corporate greed, everyone wins - especially consumers. Why so? Because the only way a company can keep growing its sales and profits is to keep on providing consumers with what they want at the prices they are willing to pay.
Socialist minds are incapable of comprehending that corporations don’t lower their prices as an act of benevolence toward their customers. They do it for only two reasons: (1) to be competitive in the marketplace, and (2) to make bigger profits. Any beliefs to the contrary are nonsense.
Thus, when you get right to the core of the matter, corporations did not give millions of dollars to the California fire victims for altruistic reasons. They gave out of self-interest. They knew they could never buy the great publicity they got, even if they spent 10 times as much money with a top-notch PR firm.
Again, everyone wins. The corporations got good PR and the fire victims got the money. Gosh, and all this without the use of government force. Who would have believed it?
But it’s even simpler than that. The truth of the matter is that corporations themselves are neither good nor bad. A corporation is merely a vehicle for organizing resources.
Take Wal-Mart, for example. It produces nothing. It is but a giant distribution machine. And the reason it is the nation’s largest employer (1.8 million employees!) is that it performs that function better, and at a lower cost, than any other company in this part of our galaxy.
Of course, when the big corporate guys use shareholder money to buy little necessities for their homes - such as $8,000 wastebaskets - we have no choice but to send them on a paid vacation to a federal prison.
But we don’t punish them because of their greed. We punish them because they are stupid - stupid enough to steal money from shareholders, in spite of their fat salaries, stock options, and perks. Theft is an act of aggression; greed is not. Never confuse the two.
All this is not intended to inspire you to cast a presidential write-in vote for Gordon Gekko (of Wall Street fame). But you might think long and hard before voting for any candidate who rails on endlessly about corporate greed and the virtue of altruism. Especially since so many of the politicians who huff and puff about such "evils" are themselves wealthy. Make that very wealthy.
But in the event you can’t resist voting for such a candidate, for goodness sake keep your hand on your wallet at all times. Because he - or she - is planning to come after it. Trust me on this one.
[Ed. Note: Take a gigantic step toward achieving all your personal and professional goals - faster than you ever imagined - with Robert Ringer’s best-selling personal-development program. And sign up for his Voice of Sanity e-letter here.]
Grow & Protect Your Wealth in the Mutual Funds of the 21st Century
Most investors put their money in mutual funds, then forget about it. Most of the time, this is a big mistake. While mutual funds offer diversity and professional management, they can be expensive… and most under perform the market.
Instead, consider the mutual fund of the 21st century - Exchange Traded Funds (ETFs). Not only do they offer low fees and extreme diversification… but a wisely structured ETF portfolio can dramatically outperform the market!
ETF Edge is an affordable service that can help you choose just the right ETFs at just the right time. Want to get rich the lazy investor’s way… Click here to find out how
A Surprising Way to Burn More Calories
If you want to burn calories, you have to do hours of cardio, right? Wrong! Recent research shows that resistance training can burn calories during exercise and long after the workout is over. This boost in your metabolism could be a crucial component in your weight-loss program.
The intensity of your resistance training workout determines how many calories you burn after you exercise.
If you’ve ever read a muscle magazine or spent a few hours in a commercial gym, you’ve probably gotten the idea that you have to do "high repetitions" (15-25 per set) in order to burn fat. However, studies show that it’s not necessary. Women training with a heavier weight that allowed only 8 repetitions per set burned more calories after exercise than those with a lighter weight that allowed 15 repetitions per set. So we need to forget the "use high reps to get cut" myth and focus on high-intensity training instead.
The result of high-intensity training is what I call "turbulence." The stress put on the muscle during low-repetition training (the "turbulence") stimulates your muscles to undergo repair and regeneration during recovery. And that is what boosts your metabolism after exercise. If you don’t apply enough turbulence, you won’t get the calorie-burning benefits.
[Ed. Note: Fitness expert Craig Ballantyne is the creator of the Turbulence Training for Fat Loss system. If you want a free online source of information, motivation, and social support to help you improve your health, lose weight, and get fit, sign up for ETR’s free natural health e-letter.]
Worth Quoting: Debra Lee, Chairman and CEO of BET Networks, on Relationships
"In my negotiations with business partners, I always maintain good relations whether the deal is successful or turns sour. You never know who you will be dealing with next or even who you may report to next. Philippe Dauman, who is now CEO of Viacom and to whom I report, once was a board member with me on a now defunct company. We had a terrific relationship, but who knew that several years later he would be my boss."
(Source: Business 2.0)
It’s Good to Know: Fingerprints
Due to the unique pattern of every person’s fingerprints, they have been used to identify criminals for decades. But now researchers at Imperial College London have a new way to use them. Infrared spectroscopy, a sort of chemical photograph, now allows investigators to find microscopic traces of substances (such things as explosives residue) that were on the person’s fingers when they left the print.
(Source: Discover Magazine)
How Would You Like To Turn $3,500 Into $50 Million?
Power and money decisively travel toward those who are persuasive. Marketing legend Gene Schwartz helped turn Boardroom Inc from a $3,500 idea into a $50 million powerhouse company with his persuasive ideas.
Many marketers who have since studied Schwartz have built multimillion-dollar empires using those same ideas.
What’s stopping you from doing the same? Why not get started today!
- Patrick Coffey
Word to the Wise: Overweening
"Overweening" (oh-vur-WEE-ning) means overbearing or excessive. The word is derived from the Old English for "to be arrogant."
Example (as used by Joyce Maynard in At Home in the World): "Overweening personal ambition is no virtue; but while I had it, I could have danced on a bed of nails."
[Ed. Note: Become a more persuasive writer and speaker … build your self-confidence and intellect … increase your attractiveness to others … just by spending 10 VERY enjoyable minutes a day with ETR’s new Words to the Wise CD Library.]
Michael Masterson
Copyright ETR, LLC, 2007