Entrepreneurs: Myths and Legends|| The BBB is One of Them...

Accolades to my Friend Chris Swope for This original post...

Entrepreneurs here in the US have a very interesting phenomenon called the better business bureau. It is a so-called watchdog group that has attained legendary status in the business community. You're either in, or your out.... and too many entrepreneurs have misguided notions of what it's really all about.

The BBB Is NOT What It Seems

Some people mistakenly look at the BBB as a credible government entity that handles disputes between customers and businesses that is run by tax dollars. First of all, it is not a government agency, it is a private company. The common misconception is that if a business is a member of the BBB and has a good rating, then they must be a good, positive, and credible business. Another problem this brings up is that if a business receives a 'bad' rating, they are not able to dispute/resolve their complaints UNLESS THE BUSINESS PAYS TO BE A MEMBER. Sounds like a conflict of interest to me.

See the BBB takes "subscription" or "membership" donations from businesses. This means that businesses are the BBB's source of income (even though they classify themselves as non-profit). Businesses are their object of complaint. So, if I as a consumer complains to the BBB, they are complaining about one of the BBB's sources of income. Obviously, this is a problem.

Just about the only thing that the BBB does, is give the business that is being reported the opportunity to respond, only after they have paid their membership dues. What a joke.

To give you an example, I checked out my local Wal-Mart: they are a "member" of the BBB. They have had one complaint against them, but it apparently was resolved. So, they have an "AA" rating. I checked out the local Lowe's. They have 14 unresolved complaints against them and have an "F" rating. They are NOT members of the BBB.

What makes this kind of fishy is the number of lodged complaints. These stores are no more than a couple of miles from each other and so have basically the same customer base. I find it impossible to believe that the BBB has only received one complaint against Wal-Mart and 14 against Lowe's. This makes me suspect that a) the BBB is not recording complaints against their members; b) the BBB is not recording responses from non-members; c) the BBB might be "creating" complaints against non-members. Or some combination of these or others.

One final irony: if you have a complaint against the Better Business Bureau, you can't file it with the Better Business Bureau. The Better Business Bureau is not a member of its own organization!

Moral of the story: You can't look at the BBB as a credible source of business information. The facts they publish are skewed by the mere business model that they use - paid memberships.

Thanks again to Chris swope. Check back with the wealth practicum on a regular basis for our updates. Peace and success to you.

Matt Hempel
440.368.3535
http://www.yournewlegacy.com

Entrepreneurs: Clarity and What I've Learned in 3 Years

I've discovered something.... something so liberating, so simplifying.... it's clarity. Clarity is essential for the home based business entrepreneur. I'll share some things today that will make a difference for you..... on CLARITY.

In effect, some real, no BS, Hype-free, unvarnished insight from someone that’s been successful in the industry for over three 3 years now….. pretty valuable stuff I’m thinking…

Clarity?? Yes, I said clarity….. perhaps the most important commodity available for your progress, sanity and success in business.

There’s so damn much noise in the marketplace today…

There are legions of pretenders out there… People who have no business giving advice on everything -- regurgitating stuff in ebooks, articles and emails that they lifted from someone else, all claiming to be the final authority on making money online, or ne.t.work mark.eting, or how to groom your dog or whatever.....

We’re bombarded by information, aggressive advertising, negative news, outrageous claims, people talking a lot of smack…… I mean everyone’s an expert, right? Or at least they claim to be….

In the meantime, so many of us are still looking for “it”, “the answer”, or “how it all fits together”…… well, look no further.

It’s time for some Real, unvarnished, un-hyped CLARITY….

But first, you’re saying “what qualifies you Matt on the topic of success in home business and online marketing”.

We love it when people ask that because we get to talk facts again….

1. 3+ Years successfully generating 100,000+/ year in profit for our family with our business.

2. Successfully transitioning from suit and tie (stressed, overworked, miserable) corporate 6 figure earner to home business entrepreneur/ stay home dad.

3. Successfully implementing the leading methods of marketing on and offline and teaching other team members how to do the same…..

4. Great relationships with some of the best marketing and success minds in the industry today – People who are mentors and leaders that get things done and aren’t afraid to tell the truth.

‘Nuff said….. you get the point.

Now for the meat of it…. [Clarity]… (drum roll Please)... What I’ve distilled after 3+ years in this industry.

Three things I believe that are important when evaluating any opportunity, business situation, or inves.tment on your part.

1. Is there sufficient leverage? Does it provide an opportunity for you to multiply your efforts through use of technology, other people’s time or money, or leadership example so you don’t reinvent the wheel? Can you work once and get paid on that work again and again? If you want to trade straight time for money, stick with a 9-5 job. If you want to create wealth and residual income, you’ve got to have leverage.

2. Is there marketing and marketing training in place? This is absolutely essential. You may represent the next vitamin that will reverse the aging process for the entire planet, but if no one knows, you’re dead….. I’ve seen more good people fail in home business with lack of marketing knowledge than anything else.

3. Is there a duplicatable system in place? If you want to do something creative, go learn how to paint, or write a book or take acting classes. If you want success with the shortest route between here and there, find a system that works.

Now, obviously there are a lot of people out there jumping up and down saying what you have to do to be successful….. some of it’s true, some of it’s BS.

All I’m saying is that for clarity’s sake, without these three elements it’s like buying a lottery ticket….. You may get lucky, but odds are all you did is make a little contribution to the lottery fund.

Finally, let common sense apply….

A business requires work. I don’t know of anything out there that doesn’t require some work. There are too many charlatans out there that give our industry a bad name by promising something for no work.

You must move towards the mindset of an entrepreneur if you want to get big entrepreneur results. Think like an employee to get employee results.

Practice personal development. When I don’t, my results suffer. I don’t know why this is, it just is…. I’ve stopped fighting this universal principle a long time ago.

There’s more to come. Next time, we’ll introduce you to one of the best examples of leverage in the marketplace today.

We’ll also talk further about marketing techniques and mindset – things that make all the difference between you working your job another 5 years, or being financially independent in 5 years…… You get to choose.

Until next time,

To Your Infinite Possibility,
Matt and Aisha Hempel

http://www.yournewlegacy.com

440.368.3535