Cash Flow Potentials

If you are looking to start a business, purchase a business, or start a home business using a direct sales, personal franchise or MLM distribution model, you might want to read on.....

Recently I received an email from a mentor of mine Dr. Robert Rohm who was driving in his car listening to Dave Damsey. Many of you know that Dave is the financial guru on the radio who gives financil advice and Dr. Robert Rohm helps people understand how important personalities are in personal communications.

The subject was about how we are trained to make quick decisions without having adequate information.  They both felt it was important to do research and gather all of the details and data before making a final decision. Especially now with the state of the economy. There are so many people looking for solutions to their financial situation and even more people wanting to solve them....many just wanting to take the money out of your pocket. They pointed out the fact that almost every advertisement and billboard says, "Hurry!  Time is running out!"  which is one of the most commonly used sales tactics - create a sense of urgency that tempts people to purchase something before they have all of the necessary information they need to make a wise decision.  It is not a patient process; it is a "hurry up" process.

Dr. Rohm wrote in his email -
As the show continued, many different people shared their financial circumstances and I could sense Dave Ramsey becoming a little frustrated.  He finally made the comment, "Listen, people, whenever it comes to money, it all boils down to this; whoever has the most information and the most patience is going to win."  When he said that, I got out my handy notepad and pen and wrote it down.  For the next few minutes, he discussed the fact that regardless of the circumstances in which you may find yourself, you need to gather plenty of information.  You need to look at whatever you are doing as though it were a game by asking questions like, "How can I get more information?"  "Who can I call?"  "How can I find out who has been through a similar experience and how can I discover what they learned through the process?"

In reflecting on my life, I think it is true. Information is important, but so is patience. My wife and I have a rule we try to follow - we will never purchase a major item without thinking about it for 24 hours. Every time we have broken that rule, we have regretted it.

So why would you buy or invest in a business without getting more information?

You shouldn't - you should take your time, check into the company and do some due diligence for yourself so that you can make a wise decision that will help you get to a solution to your problem faster.

The challenges of the new decade aren't going to get easier, and economic recovery won't be a magic wand waved by the government. We have to do what we know is smart, prudent and matches our passion, ethics, and values to become an entrepreneur and start a businesses that meets all of our requirements. Starting a home business is one of the best opportunities available today ....but only if you will take the time to find the one that is right for you. But I promise, if you do take the time to do your due diligence, it will save you from  hundreds of waisted hours and thousands of waisted dollars. And the best news, it is a great vehicle to get you to the destination you want to get to ....but take your time!

So what do you think? Do you feel  that the person with the most information and the most patience always wins?