The Secrets of
Business and Marketing Wizardry Newsletter
Volume 10, Issue 1, Date 1/3/2006
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THE BUSINESS AND MARKETING WIZARDRY NEWSLETTER
Volume 10 issue 1 January 2006
Publisher and Author: Joe Trevison, MBA, CPA.
Editor and Co Publisher: Cheri Carlson Graduate of Northwest Research Institute.
Co Editor: Jim Trevison, English major, Edinboro University in PA
Losing a Business and Using “The Science of Personal Achievement; The17 Universal Principles of Success” to survive it.
by Joe Trevison MBA, CPA and Mystery Guest: Ms XB
MS. XB is a good friend from the net that lost a business. She lost it by a way I read about again and again. Don’t give your stock in a company away! That is the moral. However because this beautiful lady practices the Hill Philosophy she knows if she wanted to she can surpass her brother. She will someday I am almost sure of that. Anyway let her tell you her story.
Hi Joe
Yes, it was my own business. I started it with my younger brother 1996/7. We were structural engineers, building industrial steel structures throughout the UK. We were turning over about £1.5 million within five years. I wasn't skilled in engineering (mistake number one), but had decent business acumen, so I ran the office / sales / accounts / recruitment / training / health and safety / quality / etc. etc. My brother ran the factory and oversaw all contracts. Between the two of us we had the necessary skills.
However, we got a very intricate contract with British Aerospace that required an expert quality surveyor and I hired one. He wouldn't work indefinitely without shares in the company and because we needed him I gave him a directorship with shares (mistake number two).
I don't want to go into too much detail, but he plotted against me with one of our biggest customers and now has equal shares along with my brother and our old customer in a hugely successful engineering company, with over 50 engineers. My brother lives in a house worth half a million pounds and drives a car worth £60k. He is only 28 years old!
It used to hurt. But I can double his achievement if I want to. I know that now!!
My brother and I are still on very good terms, of course. We just don't discuss what happened. He is five years younger than me and it was for his sake that I didn't kick up a stink over the situation. He was needed for his engineering skills. I was surplus to requirements. That's what happened, in a nutshell.
She is wrong about mistake number one. It is not a mistake to not have all the skills. You can and should delegate for things you can’t do. There was only one mistake of hiring this guy for stock options. The brother was an ass to do this to his older sister. But she is forgiving which is the best thing to do. Here is my favorite quote on the matter. It comes from ancient times: “He who has a thousand friends has not one to spare. He who has one enemy will meet him everywhere.” We don’t need enemies in this world.
P.S. Do me a big favor, Go to my site and download those great FREE TOOLS.
You’re going to love them if you want to go into business or are in business.
http://www.Joetrevison.com/
P.S.S. Next month “Case Study of Staring a Business For $200 or Less”
by Joe Trevison MBA CPA and Mystery Guest: Pete Gray (not real name)
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| Copyright Joseph J. Trevison Not to be reprinted, resold, or
redistributed for profit, except with written permission, but may be freely distributed electronically provided that the entire
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