An excerpt from a transcript of a taped presentation by
Harlington L. Hanna Jr.
C.E.O.
Hannaian U.S.A. Corp.
Let me thank you for being here today, I know your time is valuable and I will not waste it. I truly do appreciate your time and interest.
Today I am not here as a doctor, although I am, or as a lawyer, although I am. Today I am here as a salesman and I am here to sell you something, primarily because I believe in it and I am sold on it. Now you know that when you talk with a salesman you have to listen very carefully because just like where there is smoke there is fire, where there is a salesman there is money involved, and therefore whether you buy what I am selling or not, it is in your best interest to listen very carefully to what I have to say so that you can find out where the money really is.
Now when I am finished in a few minutes, just like a good salesman I am going to ask you to give me one hundred and fifty dollars of your hard earned money..... and if you don't... it really doesn't matter because our research and experience has shown that there are many other people who recognize that $150 investment in their future is really no investment if it will allow them to start a real business, which is their own business and which will allow them to make enough money so that they and their children will not have to work for someone else for the rest of their lives.
Now I am going to assume that most of you are just like me, You would like to start your own business with all of the advantages of working for yourself so you won't have to work on someone else's job for the rest of your life.
But, you are probably frustrated and upset with your self because time is constantly slipping away and you are not doing anything about it.... or you may feel that you cannot start a business because it is just to difficult to accomplish.
If this describes your dilemma then you need to ask yourself the following six questions....Would you start your own business with all of the advantages of working for yourself if you could do it for less than three hundred dollars and also have the potential of making more money that many C.E.Os of major, well known companies.
Would you start it if your beginning time investment could be as little as ten hours a week....
Would you start it if you can continue in your present job until the income from the business is sufficient to fully support you.......
Would you start it if you could have the help and assistance in the operation of the business from a large group of experts for the life of the business, and at no cost.....
Would you start it if you would have another company supporting most of your research and development, shipping, payroll, administrative and legal needs for a negligible cost.....
And finally, would you start it if you could have all of the above and develop a business that you can really enjoy working in.
If your answer to all of these questions is yes......then of course you still have to determine which type of business you would start.
Today the economic climate has produced an environment where every time you turn a corner there is someone throwing a business opportunity at you. The ultimate question is really about choice, or as economists like to put it about opportunity cost. The choice you have to make is whether you want to waste your precious time on starting a business that you know on the front end is not the perfect business, or is one that you will probably change in the future. Obviously if you start a business you want it to be as perfect as possible. Why waste time, energy and resources if you can put your efforts into the most perfect business for you....In developing our business we researched and identified 21 principles of the perfect business and before we talk specifically about our business I would like to introduce you to these 21 principles and benefits of the Perfect Business. Whatever you do...Please take careful note and remember these 21 principles. Make reference to them as you evaluate business opportunities.....because whether you come along with us or not, in searching for your perfect business opportunity you will find these principles essential.
Principle #1 states that if you are looking for a business opportunity, the first thing you want for your perfect business is that it is a "Real Business" and not a "Pseudo Business". Most of the business opportunities thrown at you today are not real businesses. A real business is one in which you can build valuable equity. That is, you develop ownership in something valuable which you can sell and which someone else would want to buy. A real business also requires valuable professional expertise, tremendous knowledge about the particular business, and hard work. Without these elements any one would be able to be successful in business. We know that building a successful business is one of the most difficult accomplishments in life. Otherwise, every one would be rich. There are no real get rich quick opportunities even though you are presented with them everyday. You must be sensible and realize that being successful in business truly is the most difficult thing in the world to accomplish. We can train people to be successful doctors, lawyers, engineers etc., but no one yet has discovered how to teach you to be a successful businessman, to go out start a business, and guarantee that you will become wealthy. Being a successful business person is the ultimate profession. It is what every one dreams about and hopes for. There is no greater challenge. If you want to be successful in business you must develop many skills, be able to cope with many adversities, and be prepared to personally do what it takes to make it, despite lack of support and assistance from others. It is truly the battle field where only the strong survive. Don't fool yourself, it takes work, persistence and a lot more, but surprisingly it may not take a lot of money. After all that is why most people go into business, they want to make money. And so, a real business requires professional expertise and hard work. In the long run, with all things being equal, the people who make the most money are the ones who do the most work.
A real business also requires that you have some real control of your business activity, such as participation in product research and development. In fact, a real business requires that you have a real product or service which you can sell to someone else. Strange as it may seem, there are many people who say that they are looking for a job, a business, or some other way to make money which does not involve sales. I hear this all the time. Well, you show me a business that does not involve sales and I will show you a business where there is no business, and certainly, where there is no money involved. The point is that you must have a real product or service to sell to someone else in order to be in position to make real money. There is just no way around it. You can't make money if you don't have something to sell, and the only way you will have something to sell is to be in a real business.
In addition, a real business must have some permanence and future. A classic example used by some of the pseudo business opportunities around today is the claim that after eighteen months or some other ridiculously short period of time you will be "Done" or would have been "Made" or somehow become "Free" and can retire. Would any true businessman in a real business look forward to a business where after all the work put into it, you would want to get out of it in eighteen months. Especially if you are making money. Absolutely not.. The reason we want to be in business is to build a business that has permanence and future where it will continue to make money and you and your children can continue to reap the benefits of the successful enterprise for generations... Old wealthy money has usually come from generations of business operations...You must have permanence and future to have a real business...Finally, a real business will provide you with valuable spinoff opportunities where because of your participation in true business activities, and the recognition by others that you are a true businessperson, you will develop opportunities to enter other potentially lucrative enterprises.
The real story is that if you don't get into a real business now, you will still have to do it sooner or later if you want to make real money and build lasting wealth. Its the pay now or pay later principle, there is just no getting around it.
Principle #2 of the perfect business is that it must be interesting and enjoyable. The more interesting and enjoyable the business is the longer you can stay involved with it and the greater the potential to become successful....in other words you have to be able to stick with it long enough to make money from it... you are more likely to stick with it if its a business you enjoy, if you are doing something you really want to do and not just doing it because its a way to make money.....If you are involved just to make money, history says that you will probably not be successful. A historical review of most successful businesses will indicate that they were started because of some intrinsic interest the business owner had in the subject matter of the business...This intrinsic interest gives staying power. You must have staying power for a perfect business.
Principle #3 . Your perfect business must provide for widespread sales and influence. Worldwide influence is just as important to a business as is sales. We live in a global economy. The days of setting up a little storefront shop or office on the corner and making real money are behind us. Even a limitation of sales and influence just within a single country, even one as large as the United States is a significant limitation. Why go through the expense of setting up a corner shop operation when you know that the world cannot come to your door. Your perfect business must be able to sell its product all over the world so that you will benefit from being able to operate globally without regard to geographical restrictions. The key word here is global. That means not limited to the United States. You must be able to sell your product and be influential outside of the United States to have the perfect business.
Principle #4. The perfect business will allow you to control your own time, not just because you want convenience, but because you want productivity. If you can work at any time, from anywhere, whether it is at 2.00am in the morning or whether you are in France or Australia, not only is it convenient, but it is extremely productive, and we know that productivity relates well to the bottom line of making money. Just think.... You can be anywhere in the world doing your work at anytime.
Principle #5 deals with something everyone understands. The lower your start up and operating costs and resource needs are, the easier it is to be profitable and to even be in business. In other words, the perfect business is something that is easily attainable and maintainable. There are many businesses which people dream about and would like to start and operate, but the start up costs and operating costs are so high such businesses remain only a dream. Remember that although it is not always necessary, money and other resources can be a great obstacle to starting and running some businesses.... So if your dream business costs too much to start or operate, it is really not the perfect business, because, it will most likely always remain just a dream. The perfect business must be easily attainable and maintainable. Don't wait around trying to start something which may seem perfect. If it truly is the perfect business you should be able to start it and operate it easily. Many people wait around hoping that the resources needed to start their dream business will someday materialize and they never do. Their dream never happens despite its apparent potential. So, don't procrastinate waiting for something you probably won't be able to get going.
Principle #6. Many business opportunities talk about providing residual income, usually the type related to multilevel marketing commissions. While this is good, this type of residual income is not necessarily permanent and certainly not what we think of as true residual income. True residual income is usually related to royalties and other income generated in the entertainment and intellectual property industries. True residual income means that after you have done the work, the income continually flows without your labor being further involved or required. True residual income should last for the rest of your life whether or not you are involved in some multilevel or other marketing network or organization. This is a most important attribute to the perfect business. Unfortunately there are not many businesses which have intrinsic opportunities for true residual income.
Principle #7 deals with a benefit that has been detailed by some interesting research. Studies have shown that one of the major things an individual wants from a job or a business is to be commensurately compensated for the time, talents and efforts put into his work. That is, if he works for ten hours he wants tens hour worth of pay, if he works for 30 hours he wants thirty hours of pay and if the business makes a million dollars and there are only 10 people employed he wants one tenth of a million dollars in remuneration. Therefore, your perfect business must provide a method to remunerate you commensurately for your time, talents and efforts.
Principle #8 is that your perfect business must be able to generate business and income without your physical presence being necessary. Let me give you an example. A doctor colleague of mine with a very large and lucrative practice took a break from his busy practice to go diving in the Caribbean. On one of the dives he suffered shortness of breath which later turned out to be a heart attack, requiring in open heart surgery. He was back to work in eight weeks but only because he had to push himself back to help the other major victim of his heart attack, his once lucrative practice. Obviously his business depended on him being physically present. Although it made a lot of money, it was not the perfect business. This scenario unfortunately plays itself out many times every day around the country, and particularly so in the professions, which ironically are supposed to be the types of business many of us aspire to be involved in. If you want a perfect business, it should be able to progress and generate income without your physical presence.
Principle # 9: All good businessmen realize what cash flow means and that a good cash flow business is highly desired. For example if I as a lawyer made $100,000 a year, in two $50,000 payments twice a year at six month intervals, and you set up a hot dog stand on the corner and made $50 an hour so that at the end of each day you put $400 in your pocket, the net value of your $100,000 annual income is much more than that of my $100,000 law income. Economists call this the multiplier effect. You have the use of your income immediately and even if you have to pay it all out at some point you can use it and manipulate its influence up until that time. You have immediate use of your money rather than someone else having it. In other words, cash flow makes it easier to pay your bills. Banks and lending institutions love good cash flow businesses, making them easier to finance. Therefore, to be a perfect business your business must be a good cash flow generator.
Principle #10 everybody understands. A perfect business must have the potential to generate tremendous income. If it does not its not perfect. It's as simple as that.
The next few principles deal specifically with your product. Principle #11 states that you should be providing products that people want. This is very important. For example, as an eye doctor people go blind before they come to see me. They actually have to be led in by someone else who finally convinces them to come in. Now, they know they should have come in a long time before, but they chose not to even though as an eye doctor I provide a service and products that they actually need. Most people really work to make money to spend on things they want, like a vacation, a concert, good music, books, multimedia games etc. This is what they work for. They work to make money so that they can spend it on things that bring them joy and happiness. Therefore, your perfect business should be the business of giving people what they want...Joy & Happiness.
Principle #12: Your perfect business should also be providing inexpensive, affordable products. Purchasing items for three or four hundred dollars, requires a major decision for most people. They may have to consult with family members or others before they can make the purchase, or wait for a big payday which may never come. If your product is $11.95 there is no big decision to be made. In fact, many times they will give you the money just to get rid of you. and so a perfect business must have inexpensive, affordable products.
Principle #13: Your product should be a safe product with no chance of causing injury to anyone. In our litigious society, the costs of insurance, litigation and other liability reducing activities can be prohibitive. Likewise the product should be defect free so that repairs and returns are minimized. The only problem you should have from a product is to take a return if the customer does not like the product. Even then because it is a safe and defect free product you can probably just resell it to someone else. So, a perfect business will have safe and defect free products.
Principle #14: You want a unique product, of which you are the sole supplier of that product. Why be in a business where there is competition. Many of the opportunities that are thrown at you today put you into the heat of battle with tremendous competition. For example, why would you sell beepers, telephones, & long distance service when on every corner you turn or every time you pick up your phone there is someone offering you tremendous discounts and incentives to buy essentially the same products. If your business is to be as perfect as possible it must have unique products of which your company is the exclusive supplier.
Principle #15 is very important. You want your business and products to be intrinsically media sensitive. You want the free advertising and publicity that media can provide. You want a business or product which draws the media to you and your product as a source for their use. A good example is my former law partner. I am basically a corporate lawyer and he is a criminal lawyer. While we joke that criminal lawyers don't deal with the intricacies of the law like civil lawyers do, criminal lawyers get all the publicity and they quickly become public figures with all of the resultant benefits. The news media seeks them and their clients out. When you turn on your television at night or read your newspaper in the morning you often see the reports of crook number one represented by attorney so and so and then on the very next page or camera shot you see crook number two represented by attorney so & so or you see attorney so & so stating that his client, crook number three did not do this or that. Just look at the publicity the criminal lawyers in the O.J. Simpson case received and how it improved their careers, even the ones who lost their case. Therefore if your business or product is a media sensitive entity you are well on your way to being in the perfect business.
Principle #16 says that you should be in a business that other people want to be in, one that they talk about and dream about. Why not take advantage of the opportunities that intrinsically come from being in a popular business or industry. Your perfect business should be able to attract the attention of others. You should be involved with doing something that a lot of other people would really like to do.
Principle #17 states that for a business to be a perfect business it should be one that helps people. One that by its very nature is a people building, career building, opportunity providing enterprise. Everyone feels better at the end of the day if they can look back and see that they have provided some worthy deed or function for someone that day. Obviously the more people your business benefits the greater the potential for ultimate success and the more widespread it influence will be.
Principle #18 states the obvious, but many times a most overlooked attribute of the perfect business, which is that a perfect business will have the help, support and expertise of a large group of people. This is necessary because "no man or woman is an island" and you can not do it all by yourself. If you have a large group supporting and promoting your efforts you will be able to multiply and diversity your personal talents, influence, efforts and resources. This is a tremendous attribute to business development and ultimate success in business.
Principle #19 speaks to something that all of us recognize. Many people feel that they are overburdened by taxes, that they pay too much taxes and that the big boys and corporations get away with out paying their fair share of taxes. Whether this is true or not I don't know but I do know that the only way such big businesses and corporations reduce their tax burden is by having a legitimate "Real" business, undertaking true business operations and activities. And so, the only way to have legitimate tax deductions is to legitimately be in business operating a "Real Business", one that the I.R.S. or your taxing authorities recognize as a real business.
Principle #20 states that a perfect business will fill an unmet need. To the extent that your business does not meet this criteria its status as a perfect business is questionable. Businesses that fill an unmet need are difficult to find in modern sophisticated economies and societies. However ground breaking ideas, systems and products are always being developed somewhere and businesses that are based on such new technologies or on servicing new needs present the basis for meeting this criteria of the perfect business.
Finally, principle #21 states the obvious. Luck can be an important element in any successful venture. Although most of the time luck is not within our control, beginner's luck can be. This is the kind of luck you acquire by being in the right place at the right time. you are lucky to be at the station when the train is about to take off, and you are wise enough to realize that this is a train that is going somewhere you want to go, and you do not want it to leave you behind. This is a very important point. We call it beginners luck because there is some element of luck involved. For example, you are listening to this presentation and have the opportunity to come aboard our train before it leaves. The real principle to be applied here is whether you recognize the train, and where it is going, and realize these things in sufficient time for you to get aboard. Luck only brings you to the table, you still must recognize the opportunity and take advantage of the beginners luck that crosses your path. A perfect business will provide you with the beginner's luck opportunity, but you still must recognize it and take some action to benefit from it. Also, don't be distracted by others who may not see what you see or who do not recognize the opportunity. Unfortunately or fortunately everyone will not see the same thing, some may not have the capability, or may not be in a situation where they can recognize the opportunity. Therefore you must realize that you and only you must take the responsibility to put yourself in position to benefit from it. You might have to do a little extra research or learn a few new things if the business opportunity is new and unfamiliar to you. Remember good opportunities are usually intricate and unique. That's why they're good..... there is something different than the usual. Finally, you must do what it takes to understand the opportunity and to act upon it, without distraction from other less motivated or capable bystanders. Think of beginners luck as an opportunity or a chance which you and only you may have to make or break, or shape your ultimate destiny.
These 21 principles and benefits of the perfect business should be kept in a safe place and reviewed from time to time particularly if you are searching for the perfect business opportunity.
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