How Much Should You Pay Yourself?
”Self-Esteem: An erroneous appraisement” – Ambrose Bierce, The Devils Dictionary Recently, Fortune Small Business magazine did a story on executive compensation. It cited the case of two San Diego entrepreneurs who started a high-end home-furnishings business (the Richard Fischer Collection) with the long-term goal of getting wealthy. But getting there…
Where Should You Be Doing Business?
A famous business publication interviewed me once and asked me this question: “If every one of your marketing concepts but one was taken away, which would you hold on to at any price?” I didn’t need a second to think about the question. I immediately answered that I’d never give…
The Fundamentals Of Internet Advertising
“The most dangerous untruths are truths slightly distorted.” – Georg Christoph Lichtenberg, German philosopher (1742-1799) So much has been written about how different Internet marketing is from traditional selling. And there are real differences. But most of the differences are superficial. The fundamentals of selling are tied to the nature…
If You’re Lucky Enough To Be In The Company Of A Successful Businessman, Ask Questions – And Learn
I recently had lunch with Ted Nicholas, the advertising guru and self-made millionaire not very impressive by todays standards. Still, he leads an enviable life. Married to a beautiful, intelligent, younger woman, he lives in Switzerland and Florida, travels extensively, plays top-level tennis, and works when he wants and…
How To Knock Off Your Employer And Have Your Own Business
Todays memo was inspired by a news article about two name-challenged engineers who are, according to Floridas Palm Beach Post, the brains behind (a) Billion Dollar Deal. Fahri Diner and Xiang-Dong Cao were sitting around after work having a few beers (Im making up the details) and complaining about their…
The Junkie’s Secret
“Cocaine habit-forming? Of course not. I ought to know. I’ve been using it for years.” – Tallulah Bankhead (1903-1968) As a teenager I had the impulses of a junkyard dog. If someone looked at me wrong I started barking. This resulted in many scraps most of them against bigger…
Fire Someone Now
“Men weary as much of not doing the things they want to do as of doing the things they do not want to do.” – Eric Hoffer Today you are going to do something unpleasant, but necessary. Studies show that next to being fired, dismissing someone is the most stressful…
How To Get Rich (Still) On The Internet
“A feast is made for laughter, and wine maketh merry; but money answereth all things.” – Song of Solomon The Internet will surely go down in history as the most oversold economic phenomenon of the 20th century. The high-tech stock market, with its Alice-in-Wonderland valuations, is just the most egregious…
Why You Should Raise Your Prices On A Regular Basis
“Experience is what you get when you didnt get what you wanted.” – Anonymous When Norm Brodsky writes about business, I listen to him. A veteran entrepreneur whose six businesses include two in the $100 million range, Brodsky writes the occasional essay for Inc. magazine. Recently, he wrote a piece…
Opportunities On The Internet
In the 1960s, Sir Arthur C. Clarke predicted that by the year 2000 the planets would be colonized and the world would have a vast electronic global library that would be used for business, academia and personal research. As far as I know, we haven’t populated Mars, but the Internet…
The Underestimated Importance Of Firing People
“The trouble with human nature is that there are too many people connected to it.” -Milton Berle When you want to save a hammock of endangered hardwoods, you start by chopping down a lot of trees. You must get rid of the younger, faster-growing trees that threaten the good wood…
Why Higher Pricing Sells
“How to figure your cost of living: Take your income and add 10%.” – Anonymous We have talked about perceived value what it is, why it is important, and how you can use it to dramatically increase your gross margins. Id like to continue that discussion today. Let’s start with…