Following graduation from Guerilla Boot Camp:
- You are going to be able to secure the inventory you need to operate your business.
- You are going to acquire numerous skills and tools to compete
with anyone at any level of
business you choose. - You are going to move ahead of the competition and have every possible advantage in your pursuits.
- You will keep your eyes and ears open your mind alert at all times, and always be on your toes.
- You will become disciplined and expert at your job.
- You are going to be a tactical guerilla specialist.
There are several logistical prerequisites to make ready in order to reach full combat readiness:
A: If you need start up capital, contact the Small
Business Administration, a branch of the United States Government.
In business, it is all about capital, networking, and marketing. If
you are starting a new business, remember, like the Titanic, most new
businesses fail during their first year of operation. Furthermore,
I must point out that the Titanic was constructed, launched, and operated
by professionals. According to the Small Business Administration about
half a million small businesses close up shop every year. The number
one reason for business failure is undercapitalization. When it comes
to capital there never seems to be enough.
B: Some state and local governments may require permits or other application to do business in your jurisdiction. Before you begin business, you need to research and make contact with: state and local governmental agencies regulating business in your area; libraries, attorneys, accountants, and other professionals; local chambers of commerce; colleges and other schools; trade and industrial associations.
C: Contact your state tax agency for guidance on state income tax compliance, and the Internal Revenue Service for federal tax guidelines.
D: Apply for a Federal Identification Number with Internal Revenue Service, if you are going to do business under any name or entity other than your own name and your own Social Security Number. You can file electronically on the IRS web site (referenced later on in this book) to secure the proper federal identification.
E: File your business name selection in the assumed name records (usually the courthouse) where you live if you are going to use a business name that differs from your own. You must register your assumed name where you reside and where you do business. Often referred to as a d.b.a. (doing business as), in Texas the filing will be maintained for ten years before you have to renew the certificate. If you fail to comply with this registration process and record this election in advance, you cannot operate under an assumed name, and financial institutions will not allow you to open an account. Failure to file could result in legal penalty, someone else could officially appropriate your business name, and you might not have any recourse. According to the Uniform Commercial Code, some states require initial public notification such as publishing your d.b.a. in the newspaper or other public places.
F: Learn whether or not you have to collect sales tax. Contact the state agency regulating sales taxes.
G: Set up a bank account for each business entity you intend to operate. Only deposit funds and write checks on the account pertaining to that specific business. NEVER write personal checks on the account or conduct personal business from the account—EVER!
H: Open a PayPal account (Section Three).
I: If you plan to have employees, find out what records you have to keep for each state, local, and federal agency.
J: Hire an accountant or bookkeeper and set up your books, or purchase software for this purpose.
K: You generally need a credit card for most e-business sites, but some will accept a bank account or a debit card.
L: To succeed in business you need a presence on the Web. Register a domain name at www.netnation.com (call toll free 1-888-277-0000), www.domainpeople.com (call toll free 1-877-831—2562), or find another registrar at Icann.org. Choose a catchy name that identifies what you do, personifies your business, and is available. If possible, try to pick a name with class and distinction the public will remember and associate with your operation, but keep it simple. Many domain possibilities exist. Millions of names have already been chosen by other businesses. “Cybersquatters” have gobbled up countless others to sell for a premium to end-users like us. Choose a name that is short and memorable so people can remember it, like a telephone number. If possible purchase multiple names covering your business, your products, or to avoid customer confusion with other businesses. Additional domain names could steer business to you when people do not know your correct name or site. Avoid weird spellings or hyphenation, which could adversely affect traffic. The cost is usually $30 a year to register a new domain name. Most providers accept discounts for multiple years, up to ten years in advance. Registration sites provide assistance in choosing a name, or locating and purchasing one that is already registered.
M: Get an e-mail address from an Internet Service Provider.
N: If you are concerned about your address being published on the Net, consider a Post Office box or drop box.
O: If you are not 18 years old you cannot do business by yourself. Everything will have to be conducted in the name of an adult, such as a parent or guardian. In the beginning I had to do business in my Dad’s name, but I wasn’t just using my Dad’s name to get business. I wanted to earn it.
P: Invest in auction software to save time by automating many of the details of daily operation like ad preparation and design, notifying buyers at the end of auction, and assistance with other information services.
Q: You may want a separate telephone number to avoid business calls to your home. Depending on your type of business and anticipated calling volume, research a toll free telephone number.
R: Buy some inexpensive mailing labels that contain your business address and e-mail address.
S: Check out websites selling products you are considering for your business. Find the hot items and the popular categories. Study ad copy, pictures, and layout of the ads. Look at completed items to determine if the item sold and the final sales price. Absorb as much information as you can from the “HELP” sections on multiple sites. This will educate you on the rules of operation, what to do to avoid complications, and how to handle problems before they occur.
T: Before you begin selling, buy something online for yourself or your business. This will familiarize you with the auction process and hopefully make you a better seller, because you will have a first hand knowledge of what a buyer experiences on the Internet.
U: Before you do anything else, sell some items you already own. This is an inexpensive way to begin. You will have nothing invested in the merchandise and you can get a feel for the process before you make a serious commitment.
V: Devise a budget and keep to it. If you cannot pay cash do not buy it.
W: Learn all you can about the products you sell.
X: Stay trained and current on shipping regulations.
Y: Know your limitations and never promise what you cannot deliver.
Z: No matter the size, vow to improve something associated with your business every day.
From Section I, Chapter VI, Pages 60-61:
For thousands of years people have been selling their odds and ends in open-air flea markets or wherever the populace congregated. In the Middle East, according to the Bible, this was an area near the Temple. Ancient Greeks called their market Agora. The Roman Empire had its Forum. Although the exact origin of the term Flea Market is unknown, the use of this description to refer to a sale first appeared in print in France in the 1860’s. In 1998 Albert LaFarge’s wrote an article that was published in Today’s Flea Market magazine (winter edition) entitled “What is a Flea Market.” His explanation mirrors the most commonly-held belief that flea market…'is a literal translation of the French marche aux puces, an outdoor bazaar in Paris, France, named after those pesky little parasites of the order Siphonaptera (or ‘wingless bloodsucker’) that infested the upholstery of old furniture brought out for sale.
From Section II, Chapter XI, Pages 109-110:
In the autumn of 2002, when D.C. snipers
John Muhammad, and his teenage accomplice, John Lee Malvo, began their
murderous shooting rampage in the northeast beltway in and around Maryland,
Virginia, and the nation’s capitol, I briefly became involved with
the FBI in the investigation of the sniper shootings. Even though I was
in Texas and quite removed from this incident, like most of the country,
I was caught up in the news and notoriety being generated by this horrific
national tragedy. Almost every day it seemed like some innocent person
was randomly being shot and killed near the nation’s beltway. One
night as I watched the evening news, I was intrigued when someone from
the task force investigating these vicious crimes held up an assault
rifle and indicated that it was most likely the type weapon being used
in the shootings. Anyone who might have any information was encouraged
to come forward, and a toll free telephone number to a national tip line
was provided for the public to utilize for this purpose. The task force
announced that no information would be considered too insignificant.
For some reason I felt a little funny. Something registered in the back
of my mind. I mulled it over for a while and then I went to my business
records. After some 15 minutes of searching my paperwork, I was jolted
by a revelation. Almost one month to the day before the first sniper
shooting, I had sold an individual three brand new riflescopes for use
by a gun exactly like the one being sought by the sniper task force.
My sale had been to a man in Gaithersburg, Maryland—ACTUAL
GROUND ZERO FOR THE SNIPER SHOOTINGS—and the clincher was his e-mail
address. He went by the handle: DELTADEATH! I called the tip line and
reported the details of this transaction. An operator said this was good
information and someone would get right back to me, however, no one called.
Almost two weeks later I was in the shower getting ready for school.
My mom banged on the door to my room and said that I had a telephone
call. I asked who it was. She said it was the FBI.
“Sure!” I said, “no—really,
who is it?”
“It’s an agent with the FBI in Washington,” my
mother said. The agent identified himself and apologized for taking so
long to get back to me. He said they had received over 75,000 calls on
the tip line, they were working around the clock, and this was the earliest
anyone could contact me. Basically, without divulging the nature and
content of the investigation, I was able to provide all of the information
the task force needed to follow up on this lead. The agent thanked me
for my cooperation and said that he felt my lead was serious enough that
a couple of agents were going to give this person a visit right away.
I was able to perform this task quickly and completely because I had
good records, my records were well organized, and double entry, which
means that I had two ways to retrieve and review any sales transaction.
From Section III, Chapter XI, Pages 212-213:
Whenever problems arise always bite your tongue and turn your cheek—stay calm and friendly and continue the dialogue. This is not hypocrisy; it is TACT! You must maintain the patience and skill of a listener—you cannot understand your customer until you hear him. Being able to win the debate in this business is a much less valuable skill than being able to listen intently. Do you know what each buyer wants and needs? Do you always hear them correctly? True communication with your trading partner is more than hearing if it lacks complete understanding. When things go awry what often happens is a psychological human behavior response. When we hear or see something, all kinds of data are unconsciously transmitted to our brain. Since we are creatures of habit that require logic and order, whenever we do not receive all of the information, our brain automatically fills in the gaps. Your brain fills in the missing information with data from your experience and personality. In effect, our brain lies to us. When things get out of kilter, the brain clings to things that are comfortable and familiar to a person. This is normal human behavior and it usually helps us think and react quickly to stimulus in our lives even though we do not have all of the data. Without this type of naturally-occurring cerebral phenomena, we would continually face a reactive paralysis to even the most benign situations in our living environment before our mind could gather the additional missing information and muster a response. The problem we face in business often occurs when your customer’s brain does the same thing as yours, and you both are not on the same page. The challenge is to first sort out the facts from conclusions, feelings, and fiction. The lesson to be learned is to listen before you speak and maintain the patience and skill of a listener first. In order to really listen, you must remain silent. Once you have all of the information in hand, go ahead, take action, and make a decision. According to Benjamin Franklin, the real art of communication is “not only to say the right thing in the right place, but far more difficult still, to leave unsaid the wrong thing at the tempting moment.”
