Learned Any "Secrets" Lately?

By: Cathy Bryant

I mean, REAL secrets about business success - the ones that will make you rich?

You know as well as I that there really isn't any such thing as a secret - just a truth that you haven't discovered yet. (I read that somewhere and I don't know who said it - but it is profound).

The SECRET is - discover your own truths - the ones that will help grow your business. Use your imagination; it's amazing what the mind can conjure up if we slow down and listen to our natural intuition.

Having been in various businesses over the years, I have learned that opportunities exist everywhere! For example, just recently my daughter signed a lease on an apartment in her college town, only to discover two weeks before she was to move in that major repairs needed to be made. When we asked the landlord about it, he refused to do them - and also refused to let her out of the lease.

Naturally, that prompted good ol' mom to undertake a serious investigation of the options my daughter had to get out from under this lease so that she could find a more suitable place to live.

And guess what I discovered?

That this landlord had violated a federal statute when he failed to provide her with something he is required by law to give her when renting this particular type of rental unit.

But he didn't do it deliberately - he just wasn't familiar with the law. So if he wasn't familiar with it, how many OTHER landlords aren't?

See where I'm going here?

My research further revealed that only about 30% of landlords are complying with this regulation, even though the law has been in effect since 1996. And if it is discovered that they are not providing this information to lessees, they can be subject to substantial fines and penalties - up to $10,000 per violation.

So do you think they might spend $15-$20 on a packet that

  1. informs them of this law,

  2. provides information regarding compliance with the law, and

  3. includes a copy of the form they are to provide tenants?

I think they might.

Just one example of how an everyday occurrence can put the germ of an idea in one's mind about another unique way to earn money.

Finding a need somewhere - no matter how obscure you may think it is - means that someone needs to fill it. Perhaps that someone could be you!

Don't be afraid to let your mind "wander." Although you may think it's a waste of time, daydreaming about business opportunities and ways to generate an income can bring to the surface ideas that may never occur to you otherwise.

And that's what being an entrepreneur is all about!

Business and Finance
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