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Seeds For Thought Let the ideas flow. Idea creates concept. Concept creates action plan. Succeed in stages. Your business needs a moral consciousness. Supercharging Your Action Plan     As you have gone through the course, you should have begun to give yourself the daily gift of quiet time. Quiet time is your opportunity to relax and reflect on your future. If you have been taking this time, then it's a sure bet that your head is just brimming with ideas.     In preparation for your small business, you will move from the idea stage through the concept stage to the action stage.     Let your ideas flow without limitation. You are capable of achieving many things. There are vastly more things that you can accomplish than doors that are closed to you.     Let the ideas flow.     Start by thinking about all of the things that you like to do. And, there are probably business applications for these likable things.     Start by thinking about all of the things at which you feel you have above average ability. And, there are probably business applications which could capitalize on these abilities.     Start looking for positive role models in your life. Find people who are worthy of your patterning.     Start looking at jobs that seem interesting to you.     Start looking at people who have the positive long-term material, emotional and spiritual qualities that you'd like to have. Start to think about how they may have acquired them.     Start thinking about any family business connections that you may have that would give you a head start toward financial independence.     Start thinking about the 250 people in your personal network and what businesses they might help you to start. Decide how the people you know might help you connect with the people who can help you.     Take your quiet time to let the ideas flow.     Select your best idea. The next stage is to see if you can turn your idea into a viable business concept.     If you think that you have the personality and strength of ego to be a commissioned salesperson, your path to riches is clearly defined. Go sell.     If you are thinking about starting a small business or buying an existing small business, your task is more challenging.     Is your idea realistic? You will be making your life easy and putting the success odds in your favor by seeking to clone an existing business concept rather than inventing a new one.     Promoting and selling a new "never seen before" concept is very difficult and very risky. As far as possible, stick with the tried and true. Later, you will have ample opportunity to add your personal touch to your business; that is, once you have the business established.     As your idea evolves into a concept, you will strive to keep the size of your business manageable. It is prudent policy to let the business start slowly and succeed by stages. For example, if you want to start a maid service with you as the only maid, you will put the success odds heavily in your favor. However, if you want to start a maid service with you as the administrator and five others working for you, the success odds are significantly diminished.     If you can start by just working by yourself, do that.     If you can start the business at home, do that.     If you can start the business without borrowing money, do that.     If you can start the business part-time, do that.     Succeed in stages. As you progress and you gain experience and knowledge and your promotions take hold and your customer base expands, you can always accelerate your plans. By keeping your business a manageable size, you retain control and you put the odds for ultimate success in your favor.     When you feel that you have a viable business concept, your research begins. You want to talk about and read about everything that relates to your business. You want to familiarize yourself with any associations and trade groups related to your business. You want to speak with people who are directly and peripherally involved in your business. You want to find personal and business mentors.     Your research efforts are concentrated when you are starting your business. However, you should regard researching as a continuing process necessary to keep both yourself and your business vibrant.     Your research efforts should produce an action plan. You will plan exactly the steps required to start your business and the actions necessary to generate interest in the services or products you offer.     Your action plan will include but not be limited to: Establishing realistic objectives and goals. Defining your market. Consulting with industry experts/mentors. Finding a suitable location. Contracting with reliable vendors and suppliers. Arranging workable financing. Hiring competent employees. Planning cost effective advertising and promotions. Opening your doors to an enthusiastic reception. Building a customer base. Focusing on customer satisfaction.     With this action plan, you need a successful you. You need the Action Principles.     You need desire. Someone else can't want success for you. You have to want the life that financial independence can offer for you and your family.     But desire is not enough.     You need determination. You need to believe in yourself and your ability to overcome obstacles. It's called faith. You must possess the spirit and the inner fortitude to be willing to do whatever it reasonably takes to succeed.     But desire and determination are not enough.     You need common sense. You have to be engaged in a main stream business with a reasonable chance for success. You must study your market and allow your market to dictate your direction.     But desire and determination and common sense are not enough.     You need the ability to invest. Even with all of the planning and hard work that you do, you will not progress if you only consume and don't invest. You must be able to delay gratification and take a portion of your profit and put that money back into your business.     And you have to blend all of the qualities above with a moral consciousness. You have to do unto others as you would have them do unto you. You have to balance your life between business, family, community and your personal needs.     If you can make this plan and put it into action, you will succeed. Andrew Martin Talks With Alex Darby     Alex Darby spoke with Andy at Taylor Realty about eight months following the end of his story. Alex has read Andy's story.     AD: "Andy, where do you stand now? What happened with the limited partnerships?"     AM: "Well, Mr. Darby, as you read, Taylor Realty Partners One was a single shot deal put together with the sole purpose of buying the Riverdale Shopping Center. With the improvements we made, we have boosted income by $30,000 a year to $210,000. We've also initiated a Merchants' Association for the center with the dual purpose of allowing the tenants to express their concerns to us, the management, and also to enable them to do joint advertising which we also partially fund."     AD: "Tell me about your other partnership, Taylor Realty Partners Two?"     AM: "We were able to fully subscribe TRP Two in four months. Most of the TRP One limited partners came on board for TRP Two because TRP One is a success. We also have several new investors in TRP Two. Presently, we are negotiating to buy two small neighborhood shopping centers for TRP Two. As Don said, it hasn't been tough finding investors for these partnerships and it won't be hard in the future if we keep building from a successful base."     AD: "Andy, with all this property, how do you find time to manage it all in addition to your other activities and responsibilities?"     AM: "Well, Mr. Darby, you've come right to the heart of the problem. I haven't rushed into buying properties for TRP Two because I want to be sure that I have a good management team in place before I do invest in anything else. One of our investment brokers happens to be very computer literate. He's getting the bugs out of our computer management program and has the Riverdale Center on-line. With this fellow and the computer up and running, we should be in good management shape. But, I'm not rushing things. I learned that lesson."     AD: "So, you're doing what, Andy?"     AM: "I have a dual focus. I'm handling the acquisitions for the partnerships, buying the properties, and I'm managing our office, which is now 90% into commercial/investment real estate. We now have fourteen employees. And there are a few other projects."     AD: "Other projects? Can you tell us about those?"     AM: "Sure. Working with Don has really opened up my eyes to the world. You see, when Don was my age, he owned five income properties. When his daughter Susan had her problems, he was wiped out. Everything gone. He had bills you wouldn't believe. But Don is a proud man and he met his obligations but it put him back to square one. It can happen. Don has fought his way back all these years. He and his wife Jane have not only helped their daughter but many others with head and spinal injuries. I'm now helping Don and Jane with their work."     AD: "How so, Andy?"     AM: "Well, that brings us to TRP SP, that's Taylor Realty Partners Special Project. Don and I are attempting to raise $250,000 for a real estate syndication devoted exclusively to buying, rehabbing and renting barrier free homes for the disabled, for example, people in wheelchairs."     AD: "Excuse me, Andy, but $250,000 doesn't sound like it would go very far."     AM: "Well, Mr. Darby, one project, one home at a time, it will work. We are working with the state and local government to procure additional funding. We're working with the local housing authority and Don and I aren't shy about putting the arm on the banks to work with us."     AD: "A team effort."     AM: "Yes, Sir, Mr. Darby, we view this as a public-private partnership."     AD: "Your intention, then, is to build rental units. Won't you have to manage them?"     AM: "No, we won't. The State Department of Social Services will work with both the Newton Housing Authority and the Head and Spinal Cord Injury Association to select suitable and compatible residents for the homes. It's my hope and Don's that down the line we can build units, either single family houses or condo units for sale to disabled people to allow them to be homeowners and build equity. Some of the disabled are fully financially dependent but others either work part time and receive partial subsidies or work full time and just need a one time financial boost and the right house. That is a house without architectural barriers."     AD: "And, this is all non-profit?"     AM: "From my standpoint and Don's, yes, but there are significant tax incentives and benefits available to the limited partnership shareholders."     AD: "So, Andy, everybody wins."     AM: "Yes, win/win, Mr. Darby. I've certainly won because I can put my expertise in real estate to good use for a good cause. This whole business of working with the Head and Spinal Cord Injury Association has allowed me to put my life in perspective. Actually, my very early successful beginning was too tempting. I was a workaholic by day and becoming an alcoholic by night. I thought that nothing could stop me. Well, I was wrong but I was very lucky."     AD: "Money isn't everything to you then?"     AM: "Mr. Darby, don't measure me for a halo quite yet. I'm still basically a salesman out there scrapping for the next deal, the best deal I can make. I still treat myself very well. I have the money. I make a lot of money. But, I have perspective and I have patience. Well, actually, I keep working on the patience part."     AD: "How is Mr. Taylor doing, Andy?"     AM: "Very well, thank you. A big change, which I haven't mentioned, is that Mr. Taylor is almost seventy-two and wants to retire. He's now only working part-time. Don will still have his arrangement with the company. I've worked out an agreement with Mr. Taylor to buy the company."     AD: "Andy, you have accomplished a great deal in a relatively short period of time. Three years ago, you wouldn't have believed you'd be in the position you are now."     AM: "You're right, Mr. Darby. Three years ago, I was ready to sit and wait for the ad phone to ring while I sat and did crossword puzzles."     AD: "After all this, Andy, would you say that you were lucky? Lucky to have Don and Jim Taylor. Some readers will probably think that you were just lucky in associating with these two successful men."     AM: "Mr. Darby, I wouldn't argue with them. They may be right. Who knows? Who can pinpoint success? Certainly, Don and Jim helped. But, maybe it was the research. Maybe it was the newsletters and the Roundtable Meetings. Maybe it's that I'm a good salesman. Maybe, I just found the right career. Perhaps it was just because investing in real estate is so good. Or, it could have been the starting of the partnerships. Maybe it was making my mistakes early when I could handle them. Was it all luck? Who knows? It was probably a compilation of a lot of things."     AD: "So, taken all together, it worked."     AM: "Yes, I believe so. It was more than just one thing. I hear it too. People will say, 'Ah, he was lucky.' Or, 'Ah, if I had only bought real estate when he did.' Or, 'Ah, that kid's got some money behind him somewhere.' I can't help what other people believe about me. I can only believe in myself and keep trying to be a responsible person."     AD: "People are jealous of your success, then, Andy?"     AM: "Some are jealous. Some are proud. Most are living their own lives and don't give me a second thought."     AD: "And, that's fine with you?"     AM: "Yes, Mr. Darby, that's fine with me. As Mr. Taylor did with me, if someone wants to work toward success, I'm there to give any advice I can and to point him or her in the right direction. But, the right direction almost always involves effort and it's usually without an instantaneous reward. Some people can handle that and some can't. If they can't and just want to do crossword puzzles, well, we need those people in the office to answer the phones, also. They decide for themselves, not me."     AD: "Andy, it sounds like you're ready to be a mentor?"     AM: "I hope I can work with others and help as I've certainly been helped. Yes, Sir."     AD: "Thank you, Andy, and I wish you continued success." Lesson 27 Resources Go to Lesson Twenty Eight

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