PCM Report Part III – Three Foundations of Success


The Profit – The Reader and You

Merri and I love this new publishing system because  it allows you… as mentioned…  to turn your passion into profit.

In a perfect world, everyone would “turn their passion into profit” with an interesting, fulfilling and fun business that truly helps others.  This is just good business because pursuing a passion is the key to success.

Warren Buffet, one of the world’s great investors, confirmed this fact when he shared some tips with college students on how to invest. Here are the core points he shared:

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

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.

Let’s reverse the priorities.  Focus our prime effort on doing something that we enjoy right now.  Learn how to enjoy the effort in some profitable way.

Do What You Love!

The reason this type of career works well is that when we love to do something, we do it better, for longer and with greater enthusiasm.

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, yearned for exercise and the wilds of the deep woods. “What good’s the money if this isn’t fun?” 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. We bought an isolated farm high in the Blue Ridge Mountains and an Andean plantation high in Ecuador and we began developing 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.

gary scott

At times I grab my Mac Book Pro and head for a work session deep in the woods!

But where do we 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.

The first step is to get a clear idea or vision of your 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.  To succeed we must become real experts in the product or service we offer.

This educational process allows us to develop an intelligent, focused business plan we can act upon.  Action is the third step which brings us the to the fourth step, experience.   Experience creates a financial loss or profit but we always profit in increased knowledge which creates the seventh step, more ideas.

Then the entire cycle starts all over again in a better educated more refined way: Idea, Enthusiasm, Education, Action, Experience, Financial Profit and New Ideas.

This is a way to have a fulfilling business now as you evolve into new opportunities. Business is rarely static. It is an ever evolving process instead.

This seven step cycle may take days, weeks, months or years, but 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.

This report shares how to use a small community based system to speed up this seven step reality with an existing business plan that allows you to start quickly using the experience of others.

Earn more…Serve Better… Live Longer.

Community Service and longevity can go hand in hand with longevity when blended into a fulfilling community service.

One key to longevity is to remain independent, challenged, active and needed. One of the most important features found in isolated valleys where people live long lives is that old age was revered. Often people at age 100 are still active and working!

A good example of blending passion, business and service is Kazu Inomori.

Retirement-ecuador

Kazu Inomori

Inamori was born in  Japan and at age 27, he started Kyocera. His company is now a high-tech multinational maker of cellphones, office document equipment, solar power products and ceramic components that employs 66,000.  He founded KDDI in 1984, which is now Japan’s second-largest telecom network.

Inamori is now 80 years old, had founded two of Japan’s largest companies and then at age 78 became the new CEO of Japan Airlines when it entered bankruptcy protection.  He led the air carrier through its restructuring, eventually allowing the company to re-list on the Tokyo Stock Exchange in November 2012.

He is showing no signs of slowing down!   He is a great example of steady success and shows how continuing to work rather than retire enhances longevity.

He obviously is not just following the money.  He is an ordained Zen Buddhist monk. His priest name Dai-wa, means “Great harmony.”

Excerpts from a recent USA Today article by Noah Berger entitled “Kazuo Inamori, founder of Kyocera, shows how he places service before immediate profits when it says:

THREE OF INAMORI’S QUOTES:

Capitalism brought prosperity to mankind. Today’s problems are due to capitalism’s excesses.

Seek profits for the good of society and long-term sustainability of companies.

Lead with altruism and modesty, seeking reasonable profit over the long term.

Inamori has an active website also (linked below) and posts “Words of the Week”.   For the subject of Accomplishing New Feats he wrote:

People tend to look for inspiration outside of themselves. However, I look for it within. If you earnestly seek the possibilities of the work you are doing now, if you strive to make improvements, then you open the way for great innovation beyond your imagination.

About Leading a Wonderful Life he wrote:

* In dedicating yourself to one thing and studying it thoroughly, you can learn the truths of life and discover the nature of all things. By dedicating yourself thoroughly to one job or field of endeavor, you can become an expert in your area of activity. Broad, shallow knowledge is the same as no knowledge at all.

* If you live earnestly day by day, the future will open up for you. The ability to see your way into the future is a result of applying effort and living today and every day to the fullest.

* The long road of life presents countless disappointments, difficulties and trials. However, these are the best opportunities to summon all your strength and endeavor in earnest, as you aim to realize your dreams. The heavens do not ignore earnest efforts and sincere determination.      

* A seemingly ordinary scene hides wonderful opportunities. However, they are visible only to the eyes of those possessing a strong awareness of their goals.

Inamori’s example shows that our lives do not have to be dictated by the errors of others.  No matter how insane a society becomes, we as individuals can remain steady, balanced and happy by serving others while living within our means.

92 and Still Going Strong

Successful businesses do not have to be huge affairs to help you enhance your health, your wealth and the health of your community.

Another example of this is Peter Drucker, one of America’s great business consultants. He had some important comments about combining service with profit.  A deeper look at some of Drucker’s philosophy shows the importance of blending provides several valuable lessons on this point.

Drucker began working as a journalist at the age of 20 in 1929.

He explained the importance of keeping a business simple and doing what you love.  “Drucker describes himself as a ‘one man organization’. “I don’t even have a secretary”, he says. “I just use a woman to do my typing and keep in touch with my clients, even if I have had no business with them for twenty years. They are still friends. If you do a diagram of my work, in the center is writing, then comes consulting then comes teaching. I like to teach because that’s the way I learn.”

The valuable lessons here are first, that one does not have to have a huge organization to enjoy outstanding success.

There is an merchandising lesson as well.  Let every aspect of your business lead to another sale! For example in Drucker’s case he teaches students who will become executives at corporations that are likely to hire him. Second, these corporations who hire him are likely to buy his books for their employees. Third, the books are likely to be read by students who come to learn from him and who will one day run corporations that hire him. Each successful step is leads to the next.

The most important lesson is that Drucker loved working with these people. He stayed in touch even 20 years after they were clients.

Drucker outlined the value of community service when he said:  “Citizenship in and through the social sector is not a panacea for the ills of post-capitalist society and post-capitalist polity, but it may be a prerequisite for tackling these ills,” Drucker wrote. “It restores the civic responsibility that is the mark of citizenship, and the civic pride that is the mark of community.”

Drucker’s life was a reflection of this ideal… service through good… efficient business practices can be fulfilling.    In his case, they enhanced longevity as well.  He lived to be 96 finishing his 38th book “The Daily Drucker” in the year before his passing. He continued to write and was working on his 39th book “The Five Most Important Questions” when he passed in 2005 at the age of 96.

Billionaires Still Going Strong

We see these examples of service profit and fulfillment leading to success and longevity again and again.

We can see another reflection of this fact in Warren Buffet and his partner, Charlie Munger.

Buffet Munger

Warren Buffet and Charlie Munger.

Charlie Munger turned 89 on January 1, 2013.  His younger business partner Warren Buffet is only 83.

Have you ever wonder how and why Munger and Buffet despite their billions are still at work… and why?

The December 12, 2012 New Yorker article entitled “Warren’s Way” by James Surowiecki can help us understand as it says:  Warren Buffett’s tastes haven’t changed much over the years. “I like today what I liked fifty years ago,” he told me the other day. “I like reading 10-Ks. I like playing bridge. I haven’t acquired a lot of new habits. I was happy when I was in my twenties, and I don’t see a reason to change things.” We were having lunch with Carol Loomis, one of his closest friends, who is the editor of “Tap Dancing to Work,” a new anthology of Fortune writings by and about Buffett. As if to illustrate his point, lunch was the same lunch he’s probably been eating since he was a kid: a hamburger and fries, followed by vanilla ice cream, “strong on the chocolate syrup.” It isn’t just his tastes, though: as the new book shows, Buffett’s philosophy of investing has stayed remarkably consistent.

So good nutrition is not Buffet’s secret!  Tap dancing to work might be.  When you do what you love… your activity is not work… it is a great reason to get up every day and be alive.

With Warren Buffet’s philosophies in mind, let’s now look at why small town publishing offers such great potential.

http://www.flickr.com/photos/garyascott/8246421905/in/photostream

Click below to continue reading this report

Chapter Two – The Life of a Publisher

Chapter Three – Three Foundations of Success

Chapter Four – Longevity

Chapter Five – Publishing for Couples

Chapter Six – If You Have Children

Chapter Seven – Synchronicity in this Publishing.

Return to Part I of this Report

Further Research

New Yorker Warren’s Way by James Surowiecki

Read Izu Inamori’s Words of the Week here.

How Charlie Munger Saved me a Fortune

Forbes America’s Fastest-Dying Towns