Business Mastery

Puzzled with a straight forward way to explain how the US tax system works, my friend Jim Johnson gave me this one.

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A client asked me recently if this current economic mess was a time to increase marketing dollars or not. Well, it all depends and you never can tell.

The point is there is only futility in trying to use a one size fits all approach to marketing—actually to anything.

She was asking about advertising and public relations dollars I am sure. When many think of marketing, that’s what they imagine and it is certainly part of it, but not all. 

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Many of us are frozen in our tracks. The financial crisis brought on by the artificial market created by congress to provide mortgages to the unqualified has effected most sectors.

I have a large number of clients, contacts, allies, and associates and use them all as indicators of how things are going. Although most have absorbed the punches thrown their way over the last several weeks, there is considerable lack of action.

Why? No one seems to know what to do. Most advisors are not providing any real help.

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I have just returned from a week in Peru checking on my real estate investments, conducting due diligence and assisting my client Grupo Innova.

Grupo Innova develops residential and commercial properties for sale to Peruvian individuals and their businesses. 

The majority of properties being developed were large private residences. Their families have largely moved on in their lives and the properties are much too large for the remaining family. This trip I had the opportunity to visit with two of these owners. My client is considering transactions with them.

I’ll tell you a bit of the human side of it.

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Now is a great time to take advantage of others’ trepidation, fear and weakness. 

Recall that Warren Buffett is known to insist the time to be greedy is when others are afraid. However, no one can time an opportunity perfectly. So, it is imperative we get ourselves into the correct position and begin making strategic moves to improve it.

Ask all your customers one question right now.

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