Build Business Profits Success Stories: 1

Build Business Profits Success Stories are actual experiences of clients as a direct result of following the action steps developed as part of the coaching process. These are verifiable case studies and while the popular marketing technique is to publish testimonials, I consistently protect the confidentiality of all clients.

10 Times Increase in Net Income In One Year

When I asked the question as to the income this client expects to bank this year the answer was $300,000.  That is a very good number for an individual working from his basement office with one employee.  I already knew this was his first year working full time on this business and that he had been working part time on this business in the previous year.  He had no experience in this particular business (real estate investing) prior to two years ago.

I have been coaching him by phone for about 2 months and then we scheduled a day and half session on site at his office location.  During dinner the first day, I asked him to be prepared to finalize a game plan the next day for building his gross income next year to $6 million.  Now going from $300,000 to $6 million and actually a net closer to $3.5 million is quite a leap and I normally would not implement that aggressive of a plan with most clients.

This client was different. I already experienced his “action attitude”  he was in motion everyday on networking and deals that converted into a growing list of funding partners (people with money to put to work) and people sending him profitable deal opportunities.  He was successfully implementing the coaching guidance on focused networking.  He was and still is missing a management system for taking his business to the level I could see that was possible.

The number one issue anytime I work with client  on a model for increased revenue and profits is mindset.  If they don’t believe it there is nothing anyone can do or say that will turn the idea into reality.  In this case, there was not instant acceptance of my $6million plan.  However, he asked me how I arrived at that number and I told him.  He nodded his head and said alright “let’s do it”.

The exact strategy was developed the next day and included defining the niche markets he would pursue as well as the overall profit to be generated by each niche. That work resulted in him being able to see the results happening. It  became believable for him.

Will he achieve performance targets of this plan?  No….he will beat them.  Just two days later he text me at 6AM in the morning with “we need to talk”.  Close to 7 we were review an opportunity for  deal that has he potential for a for $500,000 profit before the end of this year.  In addition I looked at another deal with him yesterday and that one has a $500,000 potential by the end of this year if he flips it or an excellent rate of return if he keeps it.  I could go on but my point is this client has transformed himself into a deal and money magnet.  Does he have any special skills?  He is an effective communicator and he follows the direction of his coach.


Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

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Facebook

Linked in

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727-587-7871

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About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

The Link Between Dan Kennedy’s Clarity and Steve Pohlit’s Accelerated Accountability System

In Dan Kennedy’s most recent book “No B.S. Wealth Attraction In The New Economy”  Dan writes about Clarity. The first sentence of this chapter is “It’s instructive to ask business owners how much money they expect to receive today, tomorrow, next week.”  Dan delivers a no holds barred punch that most people go through life with no clear picture and plan of what they intend to accomplish and learn.

After reading Dan’s book including the section on Clarity, I realized just how well my Accelerated Accountability System supports the discipline of defining and tracking your progress in the area of business development. This particular system is one I fined tuned from my work as a consultant with a major firm, CFO of several large companies, entrepreneur and coaching well over 100 business owners.  I have taught this system to live audiences across the US and Canada.

Success Stories

This system is the one I use with all my coaching clients and is the tool that accounts for numerous success stories within in just months of beginning coaching. There are quite a few people who are making hundreds of thousands of dollars this year following years of making little or nothing.  Are they uniquely skilled? No they have a business with products or services that people want and they are following their coaching direction that includes daily use of the Accelerated Accountability System.

Surprise

Now you may be thinking there is a price attached to this system.  You may already be thinking that you would like to see how this works but money is tight right now so you probably won’t be able to afford it.  The following articles are free and the sample schedules on how to use this system are also free.  What is not free is your time that you will spend on doing this work.  However, you should receive a huge return on your time investment.

Articles: The Accelerated Accountability System Is All Three Steps

Step 1: Prepare An Executive Summary

Step 2. Build A Financial and Transaction Plan

Step 3: Fast Start To Success

Email Me: With Sample Schedules in The Subject Line. You must include your complete contact information. Full name, mailing address, description of your business and phone number.

Reality

The reality is most people will not do this work or if they do start it they will not continue. The exception is people who work with a coach. If you consider this a pitch for hiring me, you are right. I am accepting six new clients next for coaching that begins next week.  There are no long term contracts.  Coaching entrepreneurs and small business owners can usually be successfully done by phone.  For more information Email Me now and tell me about your business. Be sure to add Business Coaching in the subject line.  Include your complete contact information and I will schedule a 20 minute complimentary call to determine how we can work together for the benefit of your business. I only accept clients who I am confident I can help.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

The Link Between Dan Kennedy's Clarity and Steve Pohlit's Accelerated Accountability System

In Dan Kennedy’s most recent book “No B.S. Wealth Attraction In The New Economy”  Dan writes about Clarity. The first sentence of this chapter is “It’s instructive to ask business owners how much money they expect to receive today, tomorrow, next week.”  Dan delivers a no holds barred punch that most people go through life with no clear picture and plan of what they intend to accomplish and learn.

After reading Dan’s book including the section on Clarity, I realized just how well my Accelerated Accountability System supports the discipline of defining and tracking your progress in the area of business development. This particular system is one I fined tuned from my work as a consultant with a major firm, CFO of several large companies, entrepreneur and coaching well over 100 business owners.  I have taught this system to live audiences across the US and Canada.

Success Stories

This system is the one I use with all my coaching clients and is the tool that accounts for numerous success stories within in just months of beginning coaching. There are quite a few people who are making hundreds of thousands of dollars this year following years of making little or nothing.  Are they uniquely skilled? No they have a business with products or services that people want and they are following their coaching direction that includes daily use of the Accelerated Accountability System.

Surprise

Now you may be thinking there is a price attached to this system.  You may already be thinking that you would like to see how this works but money is tight right now so you probably won’t be able to afford it.  The following articles are free and the sample schedules on how to use this system are also free.  What is not free is your time that you will spend on doing this work.  However, you should receive a huge return on your time investment.

Articles: The Accelerated Accountability System Is All Three Steps

Step 1: Prepare An Executive Summary

Step 2. Build A Financial and Transaction Plan

Step 3: Fast Start To Success

Email Me: With Sample Schedules in The Subject Line. You must include your complete contact information. Full name, mailing address, description of your business and phone number.

Reality

The reality is most people will not do this work or if they do start it they will not continue. The exception is people who work with a coach. If you consider this a pitch for hiring me, you are right. I am accepting six new clients next for coaching that begins next week.  There are no long term contracts.  Coaching entrepreneurs and small business owners can usually be successfully done by phone.  For more information Email Me now and tell me about your business. Be sure to add Business Coaching in the subject line.  Include your complete contact information and I will schedule a 20 minute complimentary call to determine how we can work together for the benefit of your business. I only accept clients who I am confident I can help.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

The Secret To Beating Business Profit Plans

“Steve, I am so grateful for how you have helped me understand my business and how to achieve profitable growth. “

…This comment is direct from one of my clients whose 2010 profits are on track to exceed plan by at least 50%. Exceeding plan by 50% is worth nearly $350,000. This is one very happy client and there are many more.

What is the one component that every successful client says is the reason they are achieving business profit goals?

The answer is consistently taking action on those areas of their business that make the most difference in growing business revenue and profits.

How do successful business owners and managers consistently guide their companies to outstanding profit performance?

Most have a business coach/mentor who guides them on remaining focused and holds them accountable for taking the right action.

When I look at the difference in business performance among the clients I coach it always comes down to taking directed action or not.

What does directed action mean?

Directed action is a sequential path of steps that achieves business revenue and profit goals.  It is common for business owners to actually be experienced in what to do but are not consistently implementing.  In other cases, they are taught what to do and always held accountable for taking action.

As a business consultant and executive coach with very valuable experience running companies owned by others as well as my own companies (click here for my resume) I know what works and even more importantly I know the mistakes most  make.

What is the number one mistake made by business owners and managers?

That mistake is thinking they are the only one who can do what needs to be done.  I am always working on the mindset with the people I coach of leveraging tasks that must be done and training them on effective leveraging of those tasks.  I address the mindset of the person running the company. In the case of businesses working with employees or contractors, we are consistently looking at ways to have everyone become more valuable by leveraging tasks to less costly people or technology.  Systems, meaning the way people work and the tools they use are the key to effective leveraging.

A Program That Fits Most Budgets

If you want to be successful with any business, work with an experienced business consultant/coach who will guide you to building business profits faster than you ever imagined.  I am an expert business consultant/coach. I have a program that will fit most budgets. Email me now and tell me about your business. Include your complete contact information and I will schedule a 20 minute complimentary call to determine how we can work together for the benefit of your business.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

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Top 7 Steps For Strengthening Sales and Profits In The Restaurant Industry….Actually Applies To Most Businesses:

Top 7 Steps For Strengthen Sales and Profit In The Restaurant Industry….Actually Applies To Most Businesses:

1. Know your customer!  People coming thought the door and buying should be acknowledged with an email or card and possibly more. How do you do this?  You need to have their contact information and specifically an email address and now ideally their cell phone number.

Here is an idea on how you do that: Buy them a drink or a dessert in exchange for their information.  Here is the key: when you identify a particularly important person, the owner comes to the table, welcomes them and offers to buy their dinner in exchange for the cell phone number so they can be alerted for a very special event. Now before you say this ticket could be $200 or more I ask you how worth it is to have the cell phone number for key text messages with VIP’s and I mean people whose net worth is in 8 figures. This is huge

2. Have a plan. Your financial plan should be an annual target that can then be detailed to a weekly plan.

3. Know your numbers. Traffic and sales by time of day. Track your trends. Use this information to market to your list. Invite them to slower times using incentives.

4. Use all proven marketing tools to help grow your business. These include direct mail to targeted zip codes and ads with a “hook” in publications your target customer reads and other venues like radio, participation at key charitable events, local/regional festivals that are for your target audience, on line promotions and more.

5. Have your on line credibility in place meaning a website and social media presence

6. Use a referral marketing system. Reward people for inviting their friends and colleagues.

7. Monitor the variances from plan in all areas of your business. Nothing is excluded: payroll, food costs, utilities….the gold is in the detailed analysis of the variances.

Now You Know…Success Is In The Details.  Failure is almost always a result of not consistently following the steps that have been proven to lead to success.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

How To Prepare A Practical and Powerful Executive Summary – An Essential Tool For Your Business

Relationships are key to building your business regardless of your industry. An Executive Summary is an essential tool in developing relationships.

This details the elements of the most effective executive summaries and if you are on my email list ..see the registration form on the top right of this screen, I will soon be sending several examples to my list that should be very helpful.

You Need An Executive Summary for Your Business Even If You Never Hand It Out!

Having worked with hundreds of business owners and hundreds more of business executives and managers, across the board, very few are able to clearly state what business they are in and what they are looking for.  Every business owner and business leader is looking for something and nearly all are looking for more than one thing that will help take their business to the next level.  In many cases it is funds for growth and expansion. Often it is new sources of products and services. Nearly always leaders are always interested in meeting people who could be business partners, joint venture partners or valuable employees.

We can only get what we want when we have clearly defined what we want and clearly defined what is in it for the other party. I am currently coaching a number of people in the process of building their real estate investment business. An effective Executive Summary is right at the top of the list of what we work on at the start of the executive coaching process.  Candidly, it is this work that has helped me see the value of executive summaries properly prepared. I have used the techniques being taught to real estate investors and applied them to a rather large privately held construction company that is looking for equity capital to support much larger jobs.  The element of an effective executive summary apply to any industry and any job.

The “Must Have” Components of An Effective Executive Summary

1. A clear definition of your business with an emphasis on your unique selling proposition.
2. How your business clearly benefits your customers or in the case of real estate investment how your strategy benefits funding partners, sellers of real estate and buyers of real estate.
3. Examples of properties (or products/services) in support of what is in it for those you are developing relationships with. Innaclude proforma calculations of share of profits or other relevant calculations for your business.
4. Your picture and bio. Note if you are new to your business your bio should emphasize your network definitely never say you are new. Rather than disclosing just starting this venture, you could say you have been studying the markets and networking with experts so as to avoid the pitfalls that have been experienced by others in this industry.  Then indicate you have developed the going forward success strategy with several of the key success factors being: 1.____________ 2.____________.
5. Key contact information: Your name again, phone, email, website, blog, addresses for Facebook, Linkedin, Twitter

All of this can be done in two pages, not crammed and professionally presented.

What Is The Point If You Never Physically Hand Out Your Executive Summary?

First of all if when properly completed and if you are networking, there will be people who are interested in this document. If you are not networking your business is likely to struggle.  Remember the first point of this article which is success is directly proportionate to the quality of your relationships.

However, regardless of how frequently you physically deliver your executive summary, completing it will prepare you for more effective verbal presentations on what is your business, what you near term goals are and what is in it for those that help you.

Email me or call if you would like help with your executive summary.  My contact information follows:

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Do You Know These Guys? They Know All About The Top 1%

George Ross, Donald Trump’s right hand man and as seen on TV

Wayne Alyn Root, first very popular as he replaced Jimmy The Greek on TV and is the Vice Presidential Candidate for the Libertarian Party

Joe Sugarman, an icon in direct response marketing industry

Wayne Palmer, financial advisor to Robert Kiyosaki

Bill Glazer, expert on direct marketing, partner with Dan Kennedy and much more

Kent “the shark” Middleton, expert real estate litigation attorney and very open with his advice on how to never need his services.

There is a lot more including mp3’s of conversations with each of these outstanding people at
Mega Partnering where you can meet them plus more than 300 successful people who are focused on taking their business to the next level. People who understand it is their network that makes the difference.

Did you know there is a very small difference between those who achieve their goals and those who don’t. Watch this amazing video then come back to the Mega Partnering website
( Click Here) , read about what you will experience. Join me there and if you have any questions my contact information is all over the place including at the end of this article.

Questions about Mega Partnering?  Call me…my number follows.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Fast Start To Success With The Accelerated Accountability System

As a business consultant and coach I continue to work with people every week teaching and helping them implement the skills and action steps I know work.  My experiences being employed in very successful organizations, consulting with companies across numerous industries as well as running my own businesses have shown me certain fundamentals are pervasive in companies that are successful regardless of size.

The number one attribute that I find in everyone who achieves continually expanding goals is a disciplined focus of their attention on purposeful action. This means that with any goal there are certain steps that are needed if that goal is to be achieved.  For example in the real estate investment business where the model is to buy property, add value and resale the property, there needs to be a supply of the right deals, a supply of money for the initial purchase plus renovation and then money from an end use buyer.  Intellectually you can understand this formula but to turn the formula into profit there must be action. If you short cut the steps including the analysis there may not be any transactions or if there are, the profit you projected can be elusive.

Name a goal and the steps to achieve that goal can be mapped and once followed the goal will be achieved. This doesn’t mean the exact course is predictable. Taking action on anything is no different that what we experience in say traveling across town or the country. The route is mapped but the experiences can be surprising. When we encounter a delay or cancellation, we move around or through it. Business is no different.  Enjoy the process or get out of the game.

So what does all of this have to do with Fast Start To Success With The Accelerated Accountability Program?  I will use a recent example with a lady who I coached in front of  a live audience at a JT Foxx 360 Millionaire event. Her mission was to become a successful real estate investor and she had done  a great job of clearly defining her income goals and time line for earning that income. I challenged her on the amount and time line as they seemed somewhat aggressive considering her experience. However, she supported the amount and timing very well so they remained in tact.

Next I asked her how much time she had to devote to her business and she replied at least 50 hours. Given that I then asked her if she was committed to following the action steps necessary for her to take to achieve a successful transaction in 90 days or less. She said she was. With that response we were now able to move to the next phase which was to detail the steps she needed to take on a daily basis to achieve her goal.

These steps need to be planned by day so it is important to use an Excel spreadsheet or its equivalent for tracking your time.  For example, one of the steps is to contact people who may be a source of real estate deal transactions. That amount of time planned for that step will be more in the early part of the 90 day time line as deal flow is key to beginning the process of finding a transaction that will meet your profit goal.

The idea is to have this activity and time plan at the beginning of each week and to track your actual time spent and results of your actions. The accountability part is that this schedule is shared with your coach and if you are not using a coach, it can be shared with a business partner, spouse or a friend. Knowing someone else will be reviewing this information is a powerful motivator to keep your commitments.  This is intended to be a valuable tool and not a restraint on your life. The idea is to track chunks of time and evaluate the results.  So if you are making calls and having meetings what are the results? You are either making progress or not. If not, how you are implementing your action plan needs to be modified.

I consistently teach The Gold Formula.  The gold is in the variance and this applies to anything you intend to accomplish.  There cannot be a variance calculation without a plan. Once you have a plan you can compare that to what actually happened and most of the time there will be a variance. The variance will be positive or negative. When positive, keep doing more of it and when negative, make some adjustments.

Will the lady achieve her 90 day goal?  It is early in the process and we will know in less than three months. Maybe your goal is to start a business, expand your business, find a new job or a job. Maybe your goal is to be in a relationship or improve your health. Whatever your goal, once clearly defined you can use what I just described to achieve it. Now you know. Now go do it.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Obama,Governors Note: The State of Virginia Reports Budget Surplus..

Today’s Wall Street Journal reports Virgina State Governor Robert McDonnell has led their economy to a budget surplus of $400 million for 2010. Just two years ago the state faced more than a $4 billion deficit.

How was this accomplished?  As reported, Governor McDonnell blocked a $2 billion proposed tax increase by former Democratic Governor Tim Kaine. Then he cut spending government spending to 2007 levels.

Companies who want to stay in business understand spending cannot exceed revenues. It is rare today to see a government leader demonstrate fiscal responsibility. This report is very refreshing news. Congratulations Governor McDonnell on your persistent economic leadership.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

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About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Wayne Allyn Root Is The Guest..and What They Are Saying

“He is loud, colorful, opinionated, often outrageous and controversial. He isn’t afraid to state his opinions on anything and everything.”

Bill Maher, Former Host of ABC’s “Politically Incorrect”

“The Odds-maker of EVERYTHING!”

Donny Deutsch, Host on CNBC

“It’s no surprise that he has propelled himself to the highest echelons of success in the gaming, entertainment, business and publishing worlds. His exuberance, enthusiasm and winning smile speak volumes.”

Millionaire magazine

Hey Friend,

Above are testimonials about the special guest we’re having on our teleconference call tonight.

His name is Mr. Wayne Allyn Root.

He is a super successful business mogul having started several multi-million-dollar organizations and controls a Vegas gambling empire, dubbing him the “King of Vegas.”

Wayne will be one of our featured speakers at my Mega Partnering event, and as part of my all-content event pre-training series, I want you to join Wayne and I tonight at 6pm Pacific/7pm Mountain/8pm Central/9pm Eastern where he’ll share his insights on his mega success in business and life.

There are very few people on the planet who have the range and depth of real world experience like Wayne, and this is your chance to learn firsthand how he thinks, acts, works and wins.

Needless to say, Wayne is an interesting and charismatic personality and someone you should get to know tonight.

Lines on this call are limited, so you’ll want to be sure to dial in a few minutes early so you don’t miss out.

You can gain access to the by dialing into this number:

218-862-6400

Access Code: 369 2976

I hope you can make it on the call. It starts at 9pm Eastern / 8pm Central / 7pm Mountain / 6pm Pacific.

Best regards,

J.T. Foxx

P.S. The early bird scholarship deadline is near. Be sure to visit http://www.MegaPartnering.com for more details on this once-in-a-lifetime event.

Steve Pohlit

Director: Business Consulting, Top 1 Coaching, and the JT Foxx Organization
Business Consulting, Executive Coach
Turnaround/Crisis Management

Social Media Services
New Digital Media, Inc.

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About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Happy Nancy Pelosi Is Not Worried … A Seen On ABC

Nancy Pelosi  is not worried about the majority of the  House Representatives.  She is very confident of her agenda. Personally, I am happy she is confident because this means she is not paying attention growing number of Americans that are tired of increasing loss of freedom, liberty and prosperity.

Failing to pay attention is likely to result in her and others in federal and state governments waking up to find themselves out. Waking up to find new leadership that advocates the return to the founding principles of this country. Personally I feel that would be a great new day for our country.

Click Here for the original article at Free Nation Under God Before you do please watch the following video

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

The First Step To Building Business Revenue And Profits

People attending the classes where I teach and who join the coaching or consulting program often think there is silver bullet or magic potion for making money.

I teach audiences averaging 60 or so people all over the US and Canada how to build business profits. From this work, approximately 10% become coaching clients. I open most presentations stating that they will learn the exact formula used with those in the coaching and consulting program.

In the opening portion of every coaching or consulting engagement, I begin with  “now comes the first question that I taught in the class”. Some are still surprised when I begin following the exact process that they learned at the event. This is the first step I am giving to you, my loyal readers.

Even though I have taught them all the steps, most have not completed the first step to building business profits.  In fact I have been tracking the numbers and when I give the exact formula for building business profits, only 2% as me for the detailed report.

The Difference Between The Class and Business Coaching and Business Consulting:

The difference is the class teaches all the steps and consulting shows the client how to implement the steps.  So what is the first step?  The first step is to have a clear definition of your business that is in alignment with how you make money.  I know this seems simple but most people do not get this right the first try. The definition should be one that you can write in a few sentences and say very clearly in about 10 seconds.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

Harry Potter, Millenia Mall, Illusions

While working with a coaching client on site in Orlando, Florida I observed packed parking lots, traffic jams around Millenia Mall and filled restaurants. My comment was ” they have not heard there is a world wide recession!”

We discussed why the area seemed particularly crowded. The number one reason seemed to be that the new Harry Potter attraction had just opened at Universal Studios and it seemed be a huge draw.  So now I knew that my observation of the market could be distorted by a special event.

Later that day, I was invited to join a group at a very popular “upscale restaurant”. This place is very near Tiger Wood’s home.  My definition of an upscale restaurant is one where the dinner check for two including tip is in the $200 plus range.

After a marvelous dinner, I met the owner. I had a comment and a question. My comment was about the wonderful dining experienced I just finished. I assured him I really enjoyed it as did the  business people dining with me. My second remark was that his business is  actually an economic indicator…a barometer of how well people are doing.  Given that I asked how his business was doing on a comparable basis with last year.

Comparable analysis in business is where you compare the same period this year with the same period last year. In this example I was asking about business this year to date vs last year. He told me his business was down 30% and that the “upscale restaurant market” was down 40%.  He felt good as he was fairing better than the competition. I was not feeling that good about it considering the economic slide began accelerating in 2008.  This means the numbers in 2009 used as a comparison have already been on a decline so the decline in 2010 is particularly disturbing.

I mentioned to my client  and his key person in Orlando that I would send them a list of what I would recommend this restaurant business owner do to strengthen the business. I decided these 7 Steps could help many other business owners so I am using my blog for the action plan and I will email my friends to let them know about these ideas for their Orlando restaurant owner friend.

Top 7 Steps For Strengthen Sales and Profit In The Restaurant Industry….Actually Applies To Most Businesses:

1. Know your customer!  People coming thought the door and buying should be acknowledged with an email or card and possibly more. How do you do this?  You need to have their contact information and specifically an email address and now ideally their cell phone number.

Here is an idea on how you do that: Buy them a drink or a dessert in exchange for their information.  Here is the key: when you identify a particularly important person, the owner comes to the table, welcomes them and offers to buy their dinner in exchange for the cell phone number so they can be alerted for a very special event. Now before you say this ticket could be $200 or more I ask you how worth it is to have the cell phone number for key text messages with VIP’s and I mean people whose net worth is in 8 figures. This is huge

2. Have a plan. Your financial plan should be an annual target that can then be detailed to a weekly plan.

3. Know your numbers. Traffic and sales by time of day. Track your trends. Use this information to market to your list. Invite them to slower times using incentives.

4. Use all proven marketing tools to help grow your business. These include direct mail to targeted zip codes and ads with a “hook” in publications your target customer reads and other venues like radio, participation at key charitable events, local/regional festivals that are for your target audience, on line promotions and more.

5. Have your on line credibility in place meaning a website and social media presence

6. Use a referral marketing system. Reward people for inviting their friends and colleagues.

7. Monitor the variances from plan in all areas of your business. Nothing is excluded: payroll, food costs, utilities….the gold is in the detailed analysis of the variances.

Now You Know…Success Is In The Details.  Failure is almost always a result of not consistently following the steps that have been proven to lead to success.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

I’m 63 and I’m Tired” by Robert A. Hall

I’m 63. Except for one semester in college when jobs were scarce and a six-month period when I was between jobs, but job-hunting every day, I’ve worked, hard, since I was 18. Despite some health challenges, I still put in 50-hour weeks, and haven’t called in sick in seven or eight years. I make a good salary, but I didn’t inherit my job or my income, and I worked to get where I am. Given the economy, there’s no retirement in sight, and I’m tired. Very tired.

I’m tired of being told that I have to “spread the wealth” to people who don’t have my work ethic. I’m tired of being told the government will take the money I earned, by force if necessary, and give it to people too lazy to earn it.

I’m tired of being told that I have to pay more taxes to “keep people in their homes.” Sure, if they lost their jobs or got sick, I’m willing to help. But if they bought McMansions at three times the price of our paid-off, $250,000 condo, on one-third of my salary, then let the left-wing Congress-critters who passed Fannie and Freddie and the Community Reinvestment Act that created the bubble help them with their own money.

I’m tired of being told how bad America is by left-wing millionaires like Michael Moore, George Soros and Hollywood Entertainers who live in luxury because of the opportunities America offers. In thirty years, if they get their way, the United States will have the economy of Zimbabwe , the freedom of the press of China , the crime and violence of Mexico , the tolerance for Christian people of Iran , and the freedom of speech of Venezuela . I’m tired of being told that Islam is a “Religion of Peace,” when every day I can read dozens of stories of Muslim men killing their sisters, wives and daughters for their family “honor”; of Muslims rioting over some slight offense; of Muslims murdering Christian and Jews because they aren’t “believers”; of Muslims burning schools for girls; of Muslims stoning teenage rape victims to death for “adultery”; of Muslims mutilating the genitals of little girls; all in the name of Allah, because the Qur’an and Shari’a law tells them to.

I’m tired of being told that “race doesn’t matter” in the post-racial world of Obama, when it’s all that matters in affirmative action jobs, lower college admission and graduation standards for minorities (harming them the most), government contract set-asides, tolerance for the ghetto culture of violence and fatherless children that hurts minorities more than anyone, and in the appointment of U.S. Senators from Illinois.

I think it’s very cool that we have a black president and that a black child is doing her homework at the desk where Lincoln wrote the Emancipation Proclamation. I just wish the black president was Condi Rice, or someone who believes more in freedom and the individual and less arrogantly of an all-knowing government.

I’m tired of a news media that thinks Bush’s fundraising and inaugural expenses were obscene, but that think Obama’s, at triple the cost, were wonderful; that thinks Bush exercising daily was a waste of presidential time, but Obama exercising is a great example for the public to control weight and stress; that picked over every line of Bush’s military records, but never demanded that Kerry release his; that slammed Palin, with two years as governor, for being too inexperienced for VP, but touted Obama with three years as senator as potentially the best president ever. Wonder why people are dropping their subscriptions or switching to Fox News? Get a clue. I didn’t vote for Bush in 2000, but the media and Kerry drove me to his camp in 2004.

I’m tired of being told that out of “tolerance for other cultures” we must let Saudi Arabia use our oil money to fund mosques and mandrassa Islamic schools to preach hate in America , while no American group is allowed to fund a church, synagogue or religious school in Saudi Arabia to teach love and tolerance. I’m tired of being told I must lower my living standard to fight global warming, which no one is allowed to debate. My wife and I live in a two-bedroom apartment and carpool together five miles to our jobs. We also own a three-bedroom condo where our daughter and granddaughter live. Our carbon footprint is about 5% of Al Gore’s, and if you’re greener than Gore, you’re green enough.

I’m tired of being told that drug addicts have a disease, and I must help support and treat them, and pay for the damage they do. Did a giant germ rush out of a dark alley, grab them, and stuff white powder up their noses while they tried to fight it off? I don’t think Gay people choose to be Gay, but I damn sure think druggies chose to take drugs. And I’m tired of harassment from cool people treating me like a freak when I tell them I never tried marijuana.

I’m tired of illegal aliens being called “undocumented workers,” especially the ones who aren’t working, but are living on welfare or crime. What’s next? Calling drug dealers, “Undocumented Pharmacists”? And, no, I’m not against Hispanics. Most of them are Catholic, and it’s been a few hundred years since Catholics wanted to kill me for my religion. I’m willing to fast track for citizenship any Hispanic person, who can speak English, doesn’t have a criminal record and who is self-supporting without family on welfare, or who serves honorably for three years in our military…. Those are the citizens we need.

I’m tired of latte liberals and journalists, who would never wear the uniform of the Republic themselves, or let their entitlement-handicapped kids near a recruiting station, trashing our military. They and their kids can sit at home, never having to make split-second decisions under life and death circumstances, and bad mouth better people than themselves. Do bad things happen in war? You bet. Do our troops sometimes misbehave? Sure. Does this compare with the atrocities that were the policy of our enemies for the last fifty years and still are? Not even close. So here’s the deal. I’ll let myself be subjected to all the humiliation and abuse that was heaped on terrorists at Abu Ghraib or Gitmo, and the critics can let themselves be subject to captivity by the Muslims, who tortured and beheaded Daniel Pearl in Pakistan, or the Muslims who tortured and murdered Marine Lt. Col. William Higgins in Lebanon, or the Muslims who ran the blood-spattered Al Qaeda torture rooms our troops found in Iraq, or the Muslims who cut off the heads of schoolgirls in Indonesia, because the girls were Christian. Then we’ll compare notes. British and American soldiers are the only troops in history that civilians came to for help and handouts, instead of hiding from in fear.

I’m tired of people telling me that their party has a corner on virtue and the other party has a corner on corruption. Read the papers; bums are bipartisan. And I’m tired of people telling me we need bipartisanship. I live in Illinois , where the “Illinois Combine” of Democrats has worked to loot the public for years. Not to mention the tax cheats in Obama’s cabinet.

I’m tired of hearing wealthy athletes, entertainers and politicians of both parties talking about innocent mistakes, stupid mistakes or youthful mistakes, when we all know they think their only mistake was getting caught. I’m tired of people with a sense of entitlement, rich or poor. Speaking of poor, I’m tired of hearing people with air-conditioned homes, color TVs and two cars called poor. The majority of Americans didn’t have that in 1970, but we didn’t know we were “poor”. The poverty pimps have to keep changing the definition of poor to keep the dollars flowing.

I’m real tired of people who don’t take responsibility for their lives and actions. I’m tired of hearing them blame the government, or discrimination or big-whatever for their problems.

Yes, I’m darn tired. But I’m also glad to be 63. Because, mostly, I’m not going to have to see the world these people are making. I’m just sorry for my granddaughter.

Robert A. Hall is a Marine Vietnam veteran who served five terms in the Massachusetts State Senate. There is no way this will be widely publicized, unless each of us sends it on! This is your chance to make a difference.

———————————————

Thank you Robert!!

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

I'm 63 and I’m Tired" by Robert A. Hall

I’m 63. Except for one semester in college when jobs were scarce and a six-month period when I was between jobs, but job-hunting every day, I’ve worked, hard, since I was 18. Despite some health challenges, I still put in 50-hour weeks, and haven’t called in sick in seven or eight years. I make a good salary, but I didn’t inherit my job or my income, and I worked to get where I am. Given the economy, there’s no retirement in sight, and I’m tired. Very tired.

I’m tired of being told that I have to “spread the wealth” to people who don’t have my work ethic. I’m tired of being told the government will take the money I earned, by force if necessary, and give it to people too lazy to earn it.

I’m tired of being told that I have to pay more taxes to “keep people in their homes.” Sure, if they lost their jobs or got sick, I’m willing to help. But if they bought McMansions at three times the price of our paid-off, $250,000 condo, on one-third of my salary, then let the left-wing Congress-critters who passed Fannie and Freddie and the Community Reinvestment Act that created the bubble help them with their own money.

I’m tired of being told how bad America is by left-wing millionaires like Michael Moore, George Soros and Hollywood Entertainers who live in luxury because of the opportunities America offers. In thirty years, if they get their way, the United States will have the economy of Zimbabwe , the freedom of the press of China , the crime and violence of Mexico , the tolerance for Christian people of Iran , and the freedom of speech of Venezuela . I’m tired of being told that Islam is a “Religion of Peace,” when every day I can read dozens of stories of Muslim men killing their sisters, wives and daughters for their family “honor”; of Muslims rioting over some slight offense; of Muslims murdering Christian and Jews because they aren’t “believers”; of Muslims burning schools for girls; of Muslims stoning teenage rape victims to death for “adultery”; of Muslims mutilating the genitals of little girls; all in the name of Allah, because the Qur’an and Shari’a law tells them to.

I’m tired of being told that “race doesn’t matter” in the post-racial world of Obama, when it’s all that matters in affirmative action jobs, lower college admission and graduation standards for minorities (harming them the most), government contract set-asides, tolerance for the ghetto culture of violence and fatherless children that hurts minorities more than anyone, and in the appointment of U.S. Senators from Illinois.

I think it’s very cool that we have a black president and that a black child is doing her homework at the desk where Lincoln wrote the Emancipation Proclamation. I just wish the black president was Condi Rice, or someone who believes more in freedom and the individual and less arrogantly of an all-knowing government.

I’m tired of a news media that thinks Bush’s fundraising and inaugural expenses were obscene, but that think Obama’s, at triple the cost, were wonderful; that thinks Bush exercising daily was a waste of presidential time, but Obama exercising is a great example for the public to control weight and stress; that picked over every line of Bush’s military records, but never demanded that Kerry release his; that slammed Palin, with two years as governor, for being too inexperienced for VP, but touted Obama with three years as senator as potentially the best president ever. Wonder why people are dropping their subscriptions or switching to Fox News? Get a clue. I didn’t vote for Bush in 2000, but the media and Kerry drove me to his camp in 2004.

I’m tired of being told that out of “tolerance for other cultures” we must let Saudi Arabia use our oil money to fund mosques and mandrassa Islamic schools to preach hate in America , while no American group is allowed to fund a church, synagogue or religious school in Saudi Arabia to teach love and tolerance. I’m tired of being told I must lower my living standard to fight global warming, which no one is allowed to debate. My wife and I live in a two-bedroom apartment and carpool together five miles to our jobs. We also own a three-bedroom condo where our daughter and granddaughter live. Our carbon footprint is about 5% of Al Gore’s, and if you’re greener than Gore, you’re green enough.

I’m tired of being told that drug addicts have a disease, and I must help support and treat them, and pay for the damage they do. Did a giant germ rush out of a dark alley, grab them, and stuff white powder up their noses while they tried to fight it off? I don’t think Gay people choose to be Gay, but I damn sure think druggies chose to take drugs. And I’m tired of harassment from cool people treating me like a freak when I tell them I never tried marijuana.

I’m tired of illegal aliens being called “undocumented workers,” especially the ones who aren’t working, but are living on welfare or crime. What’s next? Calling drug dealers, “Undocumented Pharmacists”? And, no, I’m not against Hispanics. Most of them are Catholic, and it’s been a few hundred years since Catholics wanted to kill me for my religion. I’m willing to fast track for citizenship any Hispanic person, who can speak English, doesn’t have a criminal record and who is self-supporting without family on welfare, or who serves honorably for three years in our military…. Those are the citizens we need.

I’m tired of latte liberals and journalists, who would never wear the uniform of the Republic themselves, or let their entitlement-handicapped kids near a recruiting station, trashing our military. They and their kids can sit at home, never having to make split-second decisions under life and death circumstances, and bad mouth better people than themselves. Do bad things happen in war? You bet. Do our troops sometimes misbehave? Sure. Does this compare with the atrocities that were the policy of our enemies for the last fifty years and still are? Not even close. So here’s the deal. I’ll let myself be subjected to all the humiliation and abuse that was heaped on terrorists at Abu Ghraib or Gitmo, and the critics can let themselves be subject to captivity by the Muslims, who tortured and beheaded Daniel Pearl in Pakistan, or the Muslims who tortured and murdered Marine Lt. Col. William Higgins in Lebanon, or the Muslims who ran the blood-spattered Al Qaeda torture rooms our troops found in Iraq, or the Muslims who cut off the heads of schoolgirls in Indonesia, because the girls were Christian. Then we’ll compare notes. British and American soldiers are the only troops in history that civilians came to for help and handouts, instead of hiding from in fear.

I’m tired of people telling me that their party has a corner on virtue and the other party has a corner on corruption. Read the papers; bums are bipartisan. And I’m tired of people telling me we need bipartisanship. I live in Illinois , where the “Illinois Combine” of Democrats has worked to loot the public for years. Not to mention the tax cheats in Obama’s cabinet.

I’m tired of hearing wealthy athletes, entertainers and politicians of both parties talking about innocent mistakes, stupid mistakes or youthful mistakes, when we all know they think their only mistake was getting caught. I’m tired of people with a sense of entitlement, rich or poor. Speaking of poor, I’m tired of hearing people with air-conditioned homes, color TVs and two cars called poor. The majority of Americans didn’t have that in 1970, but we didn’t know we were “poor”. The poverty pimps have to keep changing the definition of poor to keep the dollars flowing.

I’m real tired of people who don’t take responsibility for their lives and actions. I’m tired of hearing them blame the government, or discrimination or big-whatever for their problems.

Yes, I’m darn tired. But I’m also glad to be 63. Because, mostly, I’m not going to have to see the world these people are making. I’m just sorry for my granddaughter.

Robert A. Hall is a Marine Vietnam veteran who served five terms in the Massachusetts State Senate. There is no way this will be widely publicized, unless each of us sends it on! This is your chance to make a difference.

———————————————

Thank you Robert!!

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

ATT, IPhone, IPhone4 – Excellent Viral Marketing for Competitors

I love the IPhone. I owned the first IPhone within 2 weeks of launch and have upgraded to the 3G and then 3GS. As soon as Apple released a new model, I was there for upgrade. Not this time.

I would love to be testing the IPhone4 right now.  ATT has pushed me to the point where I don’t want to extend my contract for two years. Why….ATT’s service sucks.  It has not always sucked. In fact for well over 2 years I enjoyed my service.  Then something changed. I began reporting this situation 6 months ago.

Bottom line .. I want great service at my primary location, had it and now it is opposite that. When I discuss this with ATT the responses are amazing.  Tonight was the icing.  The lady said “the reality is that the service you are getting is what you can expect”  I asked her how much experience she had and she said “my experience level is irrelevant”. Amazing.

So I thought ..well maybe it’s me.  However, when I would make comments about my phone and dropped calls, I would hear …”that is so common with IPhone users.  So I tested that with people I know with IPhones and that is very true. All and I mean all IPhone owners I know complain of dropped calls.

I would love an IPhone4  However, ATT wins…they have worn me out and I am now waiting for Apple to expand to other carriers.  Rumors on line that will be this fall. Regardless of the timing it cannot be soon enough for me.

New IPhone4 owners I am sure you will love your new IPhone and I wish you the best with ATT service.

ATT –  you have had an amazing opportunity to dominate the market. You have benefited from Apple’s success and have not taken notes on how they lead.  Your negative goodwill accelerates. Verizon and others gotta love it. This is a great example of viral marketing for the competition.

Is it too late for ATT?  Not at all ATT could turn this around in a heart beat because customers love the IPhone and they do not like change.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

BP Oil Spill Results In Predicable Political and Media Response…and Predictable Consequences

The media and government is taking the predictable “finger pointing” route in connection with the BP oil spill.  Screaming someone is surely to blame attracts attention to the publications and politicians screaming the loudest. Fingers point to BP and Obama.

BP accepts responsibility and has allocated $20 billion for the cleanup.  Citizens and politicians say Obama isn’t acting fast enough. Obama apologizes to no one, blames the MMS (Minerals Management Service) and appoints  Michael Bromwich as its new head.

What if this ecological disaster is actually no one’s fault. There is that strong  possibility. Recognize  that in spite of everyone’s best efforts, sometimes things fail.   Consider this excerpt from an article by Carl Hoffman explaining what most likely happened:

“No oil company wants to have a blowout and these companies spend vast sums of money and expertise to ensure that they never happen. But happen they do. If this was a blowout, it’s the first deep-water one in the Gulf of Mexico that I can think of. And for that to happen requires the perfect storm of scenarios.”

I totally support an independent investigation to confirm what really happened. There are two possible outcomes of such an investigation. First, all practical steps were taken to prevent this event and it still happened. Second, preventive measures were known and not implemented.

In the first case, we learn and get better. In the second case, there would be a violation of fiduciary responsibility and appropriate measures taken.

Related to investigations,  I am wondering what information on preventive measures was provided at the Board of Director’s level at BP.  This is a public company and Boards have very clear responsibility for asking the tough questions and getting answers.  At the government level, appointing a new head of the MMS now is interesting. Obama failed  to act following   two scathing reports on the MMS  by the Inspector General in recent years  (See full article by the  The Washington Post ) What if the MMS was operating as intended?  Would the BP Oil Spill have been prevented?

I am a major advocate of a system of accountability in business and government. The media is accountable for accurate reporting. Citizens are accountable for holding  government responsible for upholding the values of our constitution.  All of us are owed accurate information as to what happened and what steps are being taken now to minimize the risk.  The problem with the finger pointing culture is that the truth can be obscured or even ignored. That would be the ultimate disaster.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

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New Digital Media, Inc.

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About: Steve Pohlit CPA,MBA has been the CFO and COO of  major domestic and international companies.  Steve has extensive business ownership experience having purchased and started off line and on line businesses.  Steve offers his  business building experience to companies and entrepreneurs with business coaching and business consulting.  His  focus is on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

BP Oil Spill Business Losses:How Claims Will Be Calculated

There are an increasing number of headlines speculating about the extent of damage and related litigation stemming from the  BP oil spill.

There are three parts to a claim for business losses.  There is the physical loss say in the case of a fire and then lost profits due to business interruption. In addition, there are punitive damage awards. This is where a business is awarded compensation over and above actual losses.   These are called punitive damages and are typically for pain and suffering. Normally in the case of a accidental fire or damage from weather (natural cause)  there would be no basis for punitive damages. The BP oil spill falls into the category of an event that likely has the basis for punitive damage awards.

Consider a seafood restaurant on a coast line that has been family owned for generations. It has a great reputation and has been consistently profitable.  Within weeks of the BP oil spill on the news sales began dropping, continued to drop  get worse. For example, say the restaurant has been doing $2.0 million in sales and earning $200,000 profit before tax. Sales and profit  growth rate has averaged 8% per year for the last five years..

Where there is physical damage and business is interrupted, there is the predicable loss of profits from business that would have continued had the business not been damaged. However, when the supply chain is interrupted because people no longer have confidence in the food or where the fish supply is greatly reduced resulting in much higher prices, that is a different story.

Assume sales drop to where it is not possible to remain in business. There are a multitude of issues. It is unlikely the restaurant can be sold as a restaurant since the market has lost confidence in the quality and availability of the product. What about alternative use for the property. Eventually there is always an alternative use. However, the business or buyer having an alternative use in mind is likely looking to acquire the property at a distressed price.

Bottom line… any outcome other than the sale of the business as a viable going concern with a predictable cash flow based on verifiable results is going to be a distressed sale.  Losses in this situation will be future earnings plus diminished value of the property plus punitive damages for pain and suffering.

What would I recommend to a client whose business is destroyed or severely damaged by he BP Oil Spill?

1. Hire the best lawyer possible with a contingency fee arrangement. The best lawyer is one who has experience with business interruption loss experience and a track record of winning awards beyond physical losses. I would research lawyers who have won similar cases. The BP oil spill is not the first one.

2. Be sure to have a business expert as part of your professional resource team. This may seem self serving. It is not. You need a business professional to work with your attorney on a practical strategy that will hold up in court. The stronger your position the more likely for a quick equitable solution outside of court.  In settlement you want a balance of business and legal advice.

I welcome and encourage all comments from attorneys, business valuation experts and those whose businesses are potentially affected by the BP oil spill.

Steve Pohlit

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

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727-587-7871

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About: Steve Pohlit is a CPA,MBA and has been the CFO of several major domestic and international companies.   He is  an expert business coach and consultant focused on building business  profits and net asset value at above average rates.   All articles published by Steve unless specifically restricted may be freely published with this resource information.

LWT: Lead Without A Title by Robin Sharma …Get This Book Today

…”the riskiest place you can be is trying to do the same things in the same way as you have always done them. Few thngs are as foolish as hoping old behaviors will somehow present new results.”

“Every one of us alive with life can passionately drive positive change in the face of negative conditions and you need no title to do that.”

This book offers a road map for transformational thinking and results. What may surprise many people is the how important our attitude is toward consistently small steps forward each day is to achieving huge business and personal success. Written in the style of a story, you will find yourself rapidly moving through this book wanting to know what develops next. I also think you will be going back to this book, making notes and concluding what adjustment you will be making in your life and business.

I love “The Leader Who Had No Title” by Robin Sharma and I know you will too.

Steve Pohlit

Managing Director
Top 1 Coaching, Consulting
JT Foxx Organization

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit is a CPA,MBA and has been the CFO of several major domestic and international companies.  Steve is The Managing Director of  Top 1 Coaching/Consulting of  The JT Foxx Organization. He is  an expert business coach and consultant focused on building massive business  profits and net asset value. He is very experienced with Internet marketing and social media marketing.  All articles published by Steve unless specifically restricted may be freely published with this resource information.

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The Key To The Vault of Success

In the early fall of 2009 I was looking at the progress of my career. In the 18 months prior to that point I had created two on line based businesses and knew they would be successful long term. But something was missing and I was trying to pinpoint what it was.

I remembered a presentation  by Ernie Cheu who is the author of   “Soul Currency”. Ernie told his story of how when things turned south for  him he dug deep and reflected on the key success factors when he was riding high.  He then began doing again what he was doing then and regained his foundation to move forward.

In my life the number one element that was apparent in every case where I had accomplished huge professional success was this …relationships.

Between early 2008 and fall of 2009 I had developed several business models on line and connected with many wonderful people. However the relationships were different in most cases. I say most because I am blessed with having developed  very close relationships with wonderful people who I met on line .

With that brief background you may appreciate my decision in early fall of 2009 to renew my connections with highly successful people.  Once I decided that I became very relaxed about the outcome and continued on with my daily/weekly priorities.

And then the phone rang.

From that moment forward I began connecting with an increasing number of very successful people. I didn’t connect all the dots at the time. However beginning in late December 2009 I heard the word “relationships” beginning to echo loudly in my ears and then repeated because the person who called and who I am now working with is all about teaching and being an example of the importance of relationships. Thank you JT Foxx

One of JT’s coaches is Nido Qubein, the president of High Point University.Nido is a remarkable man who came to this country with $50 in pocket and is very prosperous in all areas of his life. He created it and is as excited about what he does as anyone I have ever met.

Recently I was with a group of our top clients  at High Point University. Nido  delivered a 3.5 hour message to our group. One of us in attendance asked him what his number one point of advice was.  Nido talked about his mother and the advise she gave him. She said connect with the experts who are an example of what you want to be. Nido further clarified this in a brief private discussion with me. He said “once you define success for you, find those who you feel be exemplify that definition. Then clarify the attributes they have that you don’t or you need to be better at. Once you do this then it is matter of taking steps to advance your own attributes that you have identified as those being important for you to be where you want to be. Stated another way seek out the experts then become an expert by developing the skills of the experts.

Nobody had ever clarified it for me like that before. But in an instant I got is and I knew that in many respect I have followed that guidance. I also knew I did not follow that guidance to my potential.

Nido was taking about relationships. JT teaches how to develop key relationships all the time. Our coaching, mentoring, consulting program reinforces for our student how to develop key relationships and take action to implement that guidance. Both Nide and JT are  talking about the right relationships. That is the key ..the right relationships.

If you are to develop powerful relationships then you must learn how to network, you must learn how to communicate…you must be prepared.  There are specific steps we teach for developing relationships and there are those chance encounters that seem to be a coincidence. You never know when a visit to the coffee shop, restaurant, gym, church, grocery store could be the key relationship that makes a huge difference in your life.

I have written about the Top 1 mindset in previous articles. That attitude plus the associated skills and actions is well worth the effort. However, none of us ever accomplishes anything of consequence alone. The more powerful the relationships, the faster you will achieve your ever expanding goals.

Here is an example: JT started his coaching program about the beginning of 2009.  It grew to a multi-million dollar a year business in less that 12 months. He hosts  on his show well know success stories including  Robert Kiyosaki, Jack Canfield, George Ross  and many more (visit The JT Foxx Show for more examples) On June 12 and 13, 2010 JT is bring a former leader of a G8 country to Toronto for a major event. We will have a capacity crowd of more than 500 people. VIP tickets for dinner, a picture with this leader who we cannot name for security reasons, plus the event ticket  are still available for $495. (email me for more information)  The event itself is only $95.

Imagine the credibility of having your picture taken with a former leader of a G8 country. JT still talks about the value of having met and his picture with Senator John McCain.  In fact later this year and early 2011 there are additional events materializing that will also be “off the charts” with the keynote speakers lining up. This all happens because of relationships.

Key events are great opportunities to network. Our students are increasingly successful  in part because of the networking they are doing at these and other events. Just yesterday in a coaching call I advised one of our students to move forward from a goal of attracting $300,000 in investor money to $14,000,000. With that redefined goal we developed the action steps which will start to be implemented in less than a week. I am confident he will line up a pool of $14 million for investing in his deals.

No matter what your goals are, you will accelerate the achievement of those goals by forming key relationships. Key relationships are with those people who are masters of the characteristics you know are must haves for you.

Steve Pohlit

Managing Director
Top 1 Coaching, Consulting
JT Foxx Organization

Business Consulting, Executive Coach
Turnaround/Crisis Management
Temporary CEO, CFO, Controller Services
International Business Resources

Social Media Services
New Digital Media, Inc.

Twitter

Facebook

Linked in

MySpace

727-587-7871

Email

About: Steve Pohlit is a CPA,MBA and has been the CFO of several major domestic and international companies.  Steve is The Managing Director of  Top 1 Coaching/Consulting of  The JT Foxx Organization. He is  an expert business coach and consultant focused on building massive business  profits and net asset value. He is very experienced with Internet marketing and social media marketing.  All articles published by Steve unless specifically restricted may be freely published with this resource information.