They’re at it again.
The Wall Street Journal, the New York Times, Money, Inc,. you name it and when it comes to small business they only tell one side of the story.
Case in point.
Yesterday’s New York Times there was an article about a man who started a small business.
So far, so good. Small business people don’t get enough exposure in the news media.
But look at the deal…
He started his business in 2000, six years ago.
He went into hock for a combined total of $250,000 just to open the doors.
And he has yet to have a profitable year!
What business is he in?
He opened a 24 hour a day, 7 day a week laundromat (27 washing machines, 26 dryers) in the Bedford-Stuyvesant section of Brooklyn.
(Friends tell me that neighborhood has improved a lot in recent years, but it’s still one of the toughest sections of New York.)
So what gives?
Why is it that every time the mass media writes a story about small business, they dredge up horror stories like this one?
Imagine: In business six years, no profit, in a neighborhood where you take your life into your hands daily – and $250,000 in debt.
It’s not my intention to diminish the efforts of this particular entrepreneur. He’s bringing a needed service to a neighborhood that needs it. God bless him.
But what a brutal way to be in business.
And yet, this is the standard when the mass media talks about small business.
Haven’t they ever heard of Internet marketing?
* Lloyd Irvin took his first System Seminar three years ago and he’s already broken $3 million in sales on one product in a business he runs part time.
* John Rinaldi started with us four years ago and last month he closed a SINGLE deal online for $2.5 million that will net him one million dollars in profit.
* Mr. Crow (we don’t use his real name to protect him from knock-off artists) used his System training to raise his daily sales from an average of $1 a day to over $1,000 – per day. It took him only seven months to get there.
All without risking huge amounts of money…
Here’s the deal:
The purpose of business is to make profits so that you can accumulate capital.
After you’ve built up a lot of capital then it might make sense to start a business that requires a big up front investment (or loan) that takes years to pay off.
It might make sense.
But if you read the New York Times etc, you could easily get the very wrong idea that borrowing a ton of money and starting a new business without testing the idea inexpensively first is the way to go.
Friends don’t let friends go into business this way.
If you haven’t already taken advantage of it, I’m GIVING AWAY my personal notes from my recent breakthrough seminar, System 2006.
If you’re wondering why I’m doing this, it’s simple:
I can’t stand to see another would be entrepreneur go down the torturous path of high cash investment/slow payback that the mass media sells as the only way open to small
There’s a proven alternative.
It’s called Internet marketing and the best place to learn it is at the System Seminar.
Go here to get immediate access to my personal notes from System 2006:
– Ken McCarthy
P.S. For over 25 years I’ve been sharing the simple but powerful things that matter in business with my clients.
If you’d like direction for your business that will work today, tomorrow and twenty years from now, visit us at the System Club.