Reflections & References from this episode of the show
Spend some time with the key points of the case study guide and each of the related transcript segments.
It may be hard to believe but over 90% of all businesses start as a family business.
Cargill, Johnson & Johnson, Fidelity, Dupont, Mars, and so many others began as a family business.
But the failure rate in passing a business to the next generation is as high as the failure rate to start -- over 70% every year. Just think what happens with so much failure. Together we can reverse these numbers!
CASE STUDIES: If you are part of a family business, we encourage you to review these other episodes of the show.
* Read: To get an indepth reading list, go to Boardroom, Inc. Marty mentioned one of his favorite books, "How I Raised Myself From Failure to Success in Selling," by Frank Bettger.
* TRADE ASSOCIATIONS & PUBLICATIONS. Learn more about this business by contacting national trade associations related to it:
o Newsletter & Electronic Publishers Association
o American Publishers Association
o Direct Marketing Association a/k/a The DMA
o But don't stop there. Look at the publications you enjoy reading. Is there a professional association behind it?
* FIRST PRINCIPLES: Starting a business is the road to economic independence for most of us average people. Read a little more to see why incorporating a business keeps the passion of the American revolution alive!
* OBIE (Opinion, Blog, Insights, Editorial): Bruce Camber, the Executive Producer of the show, speaks out, "Creativity, moments of perfection, and failure."
* CASES BY BUSINESS TYPE. Click on the heading to find all the business types and then click on your type of business to check out those case studies.
* SUPPORT PUBLIC TELEVISION:
Become a member of your local station. If you are already, great. If not and your business is doing well, consider joining the Producers' Club ($1000). Too much? Get a twenty employees, customers and/or suppliers to join en masse with you at $50 per person. Just get on the inside of your local station and learn how to become a producer.
* JOIN, JOIN, JOIN: Your professional associations in your industry are your key to continuing education, market research, collaborations, strategic partnerships, capital and so much more ... often you'll find that you enjoy like-minded people and many will become friends for life.
Marty published an extraordinary book about health secrets, a compilation of insights from 450 of the finest medical thinkers living today. However, with all this insight, Marty still suffered a stroke from which he is now recovering.
He has a theory that the stroke was in part caused from stressing his body in unique ways, one being demonstrated in the first segment of this episode -- his knuckle-based push ups using the toes from just one foot as the third pivot point.
So, remember, do everything in moderation. We are all fallible and life is short.
Words of Inspiration
Martin Edelston has receive the highest honors from the the Direct Marketing Association, also known as The DMA.
On June 30, 2005, it was announced that he would be inducted into their Hall of Fame at the DMA's Annual Conference & Exhibition, October 15-19, 2005 in Atlanta, GA.
"We honor the contributions and commitment to direct marketing that these three giants have made," said John A. Greco, Jr., president & CEO, The DMA.
"Martin Edelston: From a business in his basement 30 years ago, Marty Edelston built Boardroom, Inc. into a multimillion-dollar publishing empire responsible for newsletters such as Bottom Line/Personal, Bottom Line/Health, Tax Hotline, and Bottom Line/Tomorrow. Bottom Line Books.
"The company's book division, is recognized as one of the largest sellers of one-shot mail order books in the country. His innovations in creative, editorial, and product development have earned him widespread recognition among his peers. But it is his generosity with guidance, information, and private tutorials that rank him as one of the industry's great teachers.
His "I-Power" management incentive program serves as a model for many companies, including Kodak, Ford Motor Company, and Rubbermaid.
"I-Power Seminars" have been given to thousands of individuals from hundreds of companies, large and small, across the country. A generous supporter of political and educational causes focused on direct marketing, he has also encouraged several Boardroom, Inc. staff to hold leadership positions on various DMA councils and committees."