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Articles > Tips from Matthew Lesko: Part 2

Tips from Matthew Lesko: Part 2

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    1. Let The Government Be Your Collection Agency
      Do you have a supplier in another state who owes you money and won’t pay you back? Well, you don’t have to hire an attorney and pay hundreds or even thousands of dollars to get back your money. Try calling the attorney general’s office in the state of your supplier and complain about how a company in their state mistreated you. Many of these offices will investigate, for free, by contacting the business in question. No matter who is right in the matter the supplier does not likely want a government office on their back because this government office can put them out of business. The smartest business decision is to just give you the money owed and have the problem go away. Maybe your credit card company does not treat you right and holds back money you think is due to you? Maybe your health insurance company will not pay a claim you think is covered in your policy? Maybe the package delivery service or airline shipping your product did you wrong? Maybe the radio station running your ads cheated you? All of these problems can be handled more effectively, and FOR FREE, by contacting the government agency that regulates the business you are dealing with. All businesses are regulated by some agency. If your customers have a problem with you they can contact the state attorney general’s office or the postal inspector if you sent a product by mail. So why hire an attorney who will charge you $200 an hour to get you satisfaction, when you can call a government office who will do the job for free. And don’t forget, a business can fight an attorney because the worst they have to lose is that they have to pay what they owe you. But it does not pay for a business to fight a government agency, because a government agency has the power to put them out of business. To find who regulates a specific business call 411 and ask for your state capital operator. Then ask for the office that regulates the profession or organization that hurt you. Or go to http://www.govengine.com/ and start by looking for the office of attorney general. You can also try the Consumer Action Website at http://www.consumeraction.gov/.
       
    2. Start A Business With No Money and No Products
      Who says you have to have an actual store to have a store? And who says that you even have to have any products to have a store. You can start a virtual store on the web. For this you only need pictures of the products and a source to get the products when someone actually buys them from your website. Call a dozen suppliers of the product you are interested in and see if they would go into a 50/50 partnership when sales come in. You can find suppliers for any product from books in the library. Once you learn how to bring in sales, you can get your own store and keep all the money yourself. If you want to start a bookstore you can contact local hospitals, office buildings or other big structures, and make a deal with them to sell products in the lobby for people hanging out all day. And then contact a local bookstore to share the profits with them. Or you can approach a local bookstore and tell them that you will figure out how to sell books to the government and want a 50/50 deal. The bookstore has nothing to lose and you get to have a business with no money or books. And how are you going to learn to sell to the government? The government will teach you for free. Contact your local government sponsored Small Business Development Center and they will teach you for free. Contact: 800-8-ASK-SBA or http://www.sba.gov/aboutsba/sbaprogr...C_LOCATOR.html
       
    3. $150,000 To Hire Certain Employees Or To Open an Employee Day Care Center
      The government will give you:
      • $8,500 if you hire someone who has a certain income
      • $150,000 to open an on site day care center for employees
      • $3,000 if you hire someone from a certain zip code
      • $44,000 for buying new computers
      • $2,500 to hire a teacher during the summer
      The money is in the form of tax credits on your federal and/or your state income taxes. If you are paying any taxes then this is truly free money because it is taken right off your tax bill. To find out about every tax credit at your state level contact your state Department of Revenue by calling 411 and asking for the state capital operator, or go to http://www.govengine.com/ and click on your state and start looking for the Department of Revenue. For information on all federal tax credits contact Internal Revenue Service, 202- 622-5000 or 800-829-1040 (Business Tax Questions) or go to http://www.irs.ustreas.gov/formspubs/.
       
    4. Where To Find The Best Customers For Your Business
      Or where is the best place to put up a store? Or which surrounding zip codes offer the best potential for increasing sales? Or where can I get a list of all the accountants in my area to tell them about my new product or service? You don’t have to hire a high priced marketing consultant to get answers to questions like these. You can tap into the government’s rich vein of free marketing data collected by the Bureau of Census and other government agencies. This is where the multibillion dollar companies get their marketing data and it’s where the high priced consultants also get it and then resell it to clients at outrageous fees.
      That is what I used to do when I was a consultant. To get detailed information about data available for your state, contact your local Census State Data Center in your state capital by calling your state capital operator at 411 or going to http://www.census.gov/sdc/ You can also get lots of free and low-cost marketing help from your local Small Business Development Center. You can find them by contacting 800-8-ASK-SBA or http://www.sba.gov/aboutsba/sbaprogr...C_LOCATOR.html.
       
    5. Money To Start A Business In A Small Town
      The government is so concerned about creating jobs in small towns they gave someone $150,000 to start a winery in the middle of Iowa. See http://www.rurdev.usda.gov/rd/newsro...st03-final.pdf. There is a lot of money and help to start a business in a small town. The government is concerned about unemployment in small towns so it has committed a number of loans and grant programs to encourage almost any kind of entrepreneuring venture. Montana gave out a $25,000 grant to help small businesses in rural areas figure out how to get government contracts. So check out the small towns in your area. Who cares if you have to drive an additional hour to work if someone is going to give you $150,000 to start your business. A good place to start to see what kind of money is available is your local U.S. Department of Agriculture Rural Development Office http://www.rurdev.usda.gov/recd_map.html.

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