Micro Business Evolution


Every micro business has risk.

About 35 years ago I wrote my first book “Passport to International Profit” and in that book wrote the statement, “The sun is always shining somewhere”.  I was wrong and would like to restate that phrase… “The sun is always shining everywhere!”

That realization crystalized when the note below, from our Ecuador rose supplier, arrived: Gary,  just sharing not so good news.  The extension for the Andean Trade Promotion and Drug Eradication Act was not renewed as we had expected, meaning there is a good chance that it is gone.

When the temporary extension ended last Sunday, thousands of products from Ecuador became taxable when they enter the USA… including Ecuador flowers.

We still hope that an extension would be granted until June, which had given us some time to plan a strategy, but this did not happen.  Thousands of Ecuadorians depended on this agreement, but the official government position from Ecuador is “that we won’t ask for it to be extended, the government doesn’t not ask or beg as they put it, so we have no official from our government lobbying to get this benefit.”

Here are some of the taxes that will be charged on some agricultural products.ecaudor-tax

We have not added the cost of this tax to Ecuador roses offered at this site.  Order Ecuador roses now and save this tax. 

Ecuador-valentine's-roses

See how to get a two year Ecuador Living subscription and 50 Ecuador roses free. See details here.

This US import tax will change Ecuador business and highlights the importance of  gaining opportunity by being able to spot and adapt to change.

Warren Buffet gives us clues when he writes about investing and says:

  1. Do what you like
  2. Money isn’t everything
  3. Work only with people you like
  4. Buy businesses, not stocks
  5. Invest only in what you understand
  6. Don’t over diversify
  7. Keep looking for new opportunities
  8. Buy businesses you plan to keep for life
  9. Look for businesses that are available at a good price

This seventh tip to always keep looking for new opportunities is really important…. especially in this rapidly changing world.

ecuador-ocean-view

Due to technology Merri and I can operate our micro business from our apartment on this beach of Ecuador’s Pacific.  See the Ecuador house for sale where this photo was taken on the same beach as our apartment.

north-carolina-leaf-change

We can operate our micro business from the remote woods of our North Carolina farm.

Gary-Scott

We can operate our business from our Florida orange grove.  This is one of my favorite workplaces… at sunset… our lanai… overlooking the lake,  the oaks and the grove.

There is no perfect investment. There is no perfect place, but… there is opportunity everywhere and the key to spotting opportunity if for every person needs to incorporate their personal realities with the marketplace.

Making money in business is easier than any other way and modern technology, low cost computing, inexpensive transportation and cheap, reliable communication makes it simpler to have your own business today.

Small, fast and flexible are now beautiful in business! We’ll rarely understand a business better than one we own ourselves.

This fact is what we defined the concept of living a lifestyle with never ending wealth as PIEC wealth.

PIEC is an acronym for “Personal Income Earning Corridor”.  This concept of financial prudence differs greatly from traditional approaches of accumulating wealth.

Traditionally people get jobs to create income. They work to live and support their lifestyle while attempting to spend less than they earn. Maybe the savings will bring, some time in the future, a lifestyle of doing something enjoyable without work.

PIEC investors reverse the priorities. Instead of working for money to save and invest, they focus their prime effort on doing something they enjoy right now. Then they learn how to enjoy the effort in some profitable way. They learn to create “Avenues of Abundance” that combine lifestyle with the necessary task of accumulating wealth.

For example, if a PIEC investor loves golf; instead of working six days a week, 50 weeks a year just to golf on Sundays and during short vacations, instead he’ll create a business in some aspect of the golfing trade.

In another example, a client of mine, who loved animals became a vet. But he learned that the vet’s lifestyle was not one he enjoyed. He wanted to travel and move around, which is difficult for a professional who needs to stay at his office and build a practice. So he built a business that prepares special animal foods for race horses. Now he travels globally visiting horse breeders and makes much more money as well.

PIEC investors combine money with time, energy and desires. They generate income doing something desired. Desire and fulfillment become at least as, if not more, important as the money.

gary-scott-photo

We can operate our micro business from our home or our hotel courtyard in the Ecuadorian Andes.

Do what you love.

The reason PIEC investing works well is that when we love to do something, we do it better, for longer and with greater enthusiasm.

Let your passions lead you to opportunity wherever you are.

These are wealth building attributes that cannot fail. Yet PIEC investing does not mean we should suddenly abandon our jobs and try becoming golf pros, when we have never been able to break 100. Smart PIECS often require a gradual approach.

For example, as a writer and lecturer, I was never fully satisfied sitting behind a desk or standing on a podium all day long, even though I was making over a million bucks a year. I’m the physical, outdoors type and yearned for exercise and the wilds of the deep woods. “What good’s the money if this isn’t satisfying?” I often asked myself.

Rather than quit writing and teaching, I looked for ways to combine these professions with the outdoor life. Through research I learned that many city folk like myself yearn to be in the primitive outdoors. So we bought an isolated farm high in the Blue Ridge Mountains and an Andean plantation high in Ecuador where we developed seminar centers with charming but simple dwellings, set in rustic surroundings, with clean water and pure air. Now I can teach in a primitive setting and after I finish the writing or talking, I run up into the woods with an axe and clear another cabin site or something physical like that. I’ve combined my writing with physical work and have blended the life I want, with my readers’ needs in a way that makes great financial sense. The cabins are projected to bring more profits than most stocks or bonds could ever return.

The process took six years to shift and we are far from finished. But while I’m doing what I love, who cares? This is one of the great benefits of PIEC investing. We can slow down and enjoy the work instead of always rushing ahead, looking for something more.

Those who work nine to five can start PIEC businesses part time if they are too uneasy to quit their jobs. Others, who like myself, already have a business can slowly shift their product or service in a sensible way and let it evolve toward their PIEC.

internet-business

Wherever I have a computer and the internet, I can be in business. You can too!

Where to Start

There is a seven step process we can all use whether we have our own careers, a business or even if we are retired (PIEC investing is especially good for retirees who have found the supposed good life flat or financially short).

The first step is to get a clear idea or vision of our dream. This is sometimes harder to achieve than it seems. We are so deluged with false ideals from Washington, Wall Street, Madison Avenue, etc. that we have to stop and really take stock.

There is a very practical economic reason to look inwards for wealth. Warren Buffet recommends that we only invest in what we understand. What can we understand better than ourselves?

This inner search will lead us to an ideal that begins the second step which is gaining enthusiasm. How can we be anything but enthusiastic about finally fulfilling our deepest dreams? The enthusiasm leads to the third step; gaining an education.

We need to find out everything we can about our idea. (This is where an Ecuador Living subscription really pays off. There are few better sources of contacts and information in Ecuador). To succeed we must become real experts in the product or service we offer.

Fourth, this educational process allows us to develop an intelligent, focused business plan we can act upon and the action is the fifth step which brings us the experience. Experience gives us the sixth step, a financial loss or profit. Remember we always profit in increased knowledge which creates the seventh step, more ideas. Then the entire cycle starts all over again: Idea, Enthusiasm, Education, Action, Experience, Financial Profit and New Ideas.

This is a way to follow Warren Buffet’s advice to keep looking for new opportunities. Business is rarely static. It is an ever evolving process instead.

This seven step cycle may take days, weeks, months or years. The speed you set can be related to your income needs, but whatever pace you set, the moment you begin you’ll start moving into an avenue of affluence where you love your work so though money isn’t your main goal it comes more easily.

Building Wealth

Building wealth becomes a fulfilling, enjoyable process of service. Great financial rewards are an extra benefit rather than ultimate goals. Worries about money become less dominant and we gain an inherent power because we want to work harder and longer. We don’t need to search (and spend) so much for fulfilment and are more likely to excel financially.

Knowing ourselves also helps begin a business with a most powerful business tool I call the Golden Rule of Simplicity. This rule says there are millions of people just like us. When we truly see ourselves we look into a mirror that reflects an entire market who feel and desire just as we do. This is a simple rule yet gives us a finely tuned market research system which shows us how to get create our product, get in touch with our market, deliver the product or service, etc.

Self-knowledge is also essential for comfort, and comfort is a vital part of everlasting wealth. When investors are not comfortable, no profit is enough. Uncomfortable investors have a never-ending thirst for more that cannot be quenched. This indefatigable desire gums up the money making process. Amounts don’t matter. Even investors with incredible assets suffer this never-ending lust. A well documented example is Bunker Hunt’s huge losses when he speculated in silver. He had hundreds of millions yet speculated it all to make even more. When is hundreds of millions not enough?

Three Layers of Wealth

PIEC business does not mean you should put all your money in just your own business (though at times you may). Diversification is always good. PIEC diversification again departs from the financial planning norm.

PIEC portfolios come in three layers, first the business, then a layer of very safe investments over a third, much smaller layer of speculative deals.

The majority of PIEC diversification should be in stodgy, liquid investments such as utilities, CDs and bonds. These investments might pay little in the short term, but are safe and they are highly liquid at a known price. The low return on these investments is acceptable because they support your PIEC business which makes profits like few other investments can. These very safe investments act as reserves if your business hits a sticky patch and can provide ready finance if sudden business opportunities arise. They also don’t take up much time in research, accounting, watching the market, etc. so you can devote your energy doing what you love (your business) instead.

However, if you genuinely love researching and tracking the market and have the mentality, capital and experience for it, just being an investor can be a wonderful PIEC business in itself.

The third layer of diversification can be speculative because modern portfolio theory suggests that safe investments are enhanced and made safer by adding a small amount of higher risk deals. This also allows us to fulfill any casino mentality we might have left if having our own business is not enough.

PIEC investing makes it easier to create and keep wealth. It enhances our lifestyles now, because it lets us make money being who we really are. It makes life more fulfilling and fun.

Whether you are employed or have your own business, our website can help you gain knowledge and contacts to be a better entrepreneur. In the process consider becoming a PIEC investor so you can get the most, in money and fun, out of your own business.

Gary

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