Sandy Botkin is a CPA, attorney and former trainer of IRS attorneys nationwide. He lectures all over the nation on tax planning for self-employed and corporate taxpayers and can be seen in the big events with Donald Trump, Anthony Robbins and many others. He has been written up in Newsweek and in many other magazines. He is also a syndicated writer and noted author of this famed tape series "Tax Strategies for Business Professionals" and " Tax and Financial Strategies for Residential Real Estate."
Part 5
Renegade Strategy: Learn to duplicate the success of others.
Duplicating the strategy of others is much quicker and more effective than going to the school of hard knocks.
It is also known as modeling, which is well-illustrated by the way The McDonald's Corporation blazed a trail to success that many have since followed.
In the early 1950's McDonald's and other start-up companies discovered that they could grow many times faster than the conventional firms through franchising. Instead of the company investing millions of dollars to build new stores, they let independent franchises do it for them.
It seemed like a great idea, but at first no one figured out how to make it succeed on a consistent basis; therefore, the media attacked relentlessly and continually. News articles featured destitute families who had lost their life savings through franchising schemes. Virtually every state attorney general in the U.S. condemned the new marketing method. Some congressmen even tried to outlaw franchising entirely.
Over the years, however, Ray Kroc and his management team at McDonald's developed a turnkey franchise business team at McDonald's franchise. The new found success-from the system-turned public perception of franchising around. Today, virtually every franchise business models-to some extent-the franchise business system created by McDonald's, making franchising one of the most respected ways of doing business in the world.
Modeling is simply learning what other successful people have done to achieve success in a specific area, and then doing the same thing. Someone said that "education is the shortcut to experience." With modeling, you literally leverage your own learning with the collective years of learning through experience of many others. Modeling the success of others saves both time and money and reduces frustration and stress.
The light at the end of the tunnel, for you and millions of others today, is the financial opportunity that starting your own business offers. If you have one going already, than make sure are enjoying the many financial advantages to which your smart choices entitles you. The tax advantage alone can make a home-based business the single best financial move you could ever make.
We hope that you enjoyed learning more about how a home-based business could help you. To learn more go to Sandy Botkin . He has great knowledge of the taxes of the U.S. He is one of the best to learn from don't you think. If you learn from the best you do not need the rest. Follow the modeling that has already proven themselves. Sandy has proven his knowledge on this subject.
Dan and Deanna "Marketing Unscrambled"
10 comments:
Hello Dan & Deanna,
There are many choices to be self-employed. The situation today is almost confusing. The point will be selecting something you can enthusiasm and confortable. Franchising is good, but many of them are expensive like McDonnald's. Do you have any suggestion to people?
Thank you for your sharing.
Shaw Funami
Fill the Missing Link
Shaw, you are already in the best place. On the internet. But a lot of people find it hard to earn money here. They find people that only want their money and run, scam them, say this is the best place and leave them hanging in the wind. Franchising on the internet is called an affiliate marketing business. It is a place to be careful, but it can be very profitable if done right. Having good mentors does help. They can help you stay out of the placed that will couse you money, time and trouble.They can show you how to do things the right way and run from those that are not good to be in.
Hello Dan & Deanna,
Franchising can be very good in many cases! If someone purchased the early McDonald's franchises they are now quite wealthy. Other have had mixed results...it really depends on the company.
But, the idea of copying a successful business model has a lot of merit. That is often one of the keys to success.
Thank you for the great information!
Pete Baca
The Car Enthusiast Online
Hi Dan and Deanna .. thanks for part 5 .. as you say learn to duplicate the success of others .. and learn from them, then implement and follow through
Thanks - Hilary Melton-Butcher
Positive Letters
Their are so many tax break in placed for home based business. America were made to support some business.
Thanks for sharing these important information with us.
Giovanna Garcia
Imperfect Action is better than No Action
Hi Dan & Dianna,
Thank you for your advise. I complete agree with you on the business risks and probabilities.
The bottom line is that I enjoy being a part of it.
Best regards,
Shaw Funami
Fill the Missing Link
Peter, learning from those that have been down the road before can save you a lot of hard times. Thank you for your comments.
Dan and Deanna "Marketing Unscrambled"
Hilary, you are so right. It is the taking action that really makes the difference.
Dan and Deanna "Marketing Unscrambled"
Giovanna, it is much better to have a home-based business in place. Even if it is part time. For the tax reasons. Thank you for your comments.
Dan and Deanna "Marketing Unscrambled"
Shaw, thank you for your comments. It is good to hear from you again.On the internet the possibilities are many. If you get in with the right people the risks are not as high. Learn as much as you can from as many as you can.
Dan and Deanna "Marketing Unscrambled"
Post a Comment