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melvinfeller · 3 years

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Melvin Feller MA Believes That God Has a Plan for You!

Have you ever asked the question; Why is life so hard? Melvin Feller has. In fact, Melvin Feller points out that sometimes the hardest parts of life turn out to be the catalyst to really grow and learn. We all deal with circumstances that are of our own doing or caused by others. Many people feel that they are defined by their last mistake or relationship. But you are not and nor should you be.

God loves you as His child, and wants you to enjoy a relationship with Him. He is the answer to your search for that ultimate relationship. He will fill the hole in your heart. He is the one Creator of the universe and all it contains, including you. You won't be complete inside until you have a personal relationship with the God who created you.

How Can We Know That This is Even Possible and the Truth?

Melvin Feller believes that God, Himself, oversaw the writing of the most important Book of all time, The Bible. Melvin Feller also believes that “God’s Owner's Manual" for our life. Within the Bible are all the answers we need to live life and in addition to finding God. This in turn will aid us in facing our problems and issues.

Being at harmony with God is not instinctive, because by natural law we are separated from God. This separation is the "something wrong" that is at the root of our basic selfishness, loneliness, and shadowy feelings. Feelings of imperfection. Through many acts, thoughts and attitudes, we keep moving away from God, not toward Him. ALL of us do this, no matter how moral and upright we may seem on the surface. If you search your own heart honestly, you already know this is true. This has caused a split between us and God. This split is the reason we become sinful.

In the Bible we are told that, “God looks down from heaven on the sons of men to see if there are any who understand, any who seek God. Everyone has turned away, they have together become corrupt; there is no one who does good, not even one.” (Psalm 53:2-3, NIV)

Thus, the Question is How do We Find God?

We can find God because we know He loves us, God cannot and will not use viewpoint that this will allow us to remain apart from him. But then again because God is perfect, He cannot allow our sin to go unpunished without ceasing to be perfect, because he would then cease to be God. Our sins demand that they must be paid for. Our religion and good living cannot solely pay it off. Therefore, God designed the perfect solution. He sent His Son, Jesus Christ to earth. The Bible tells us of His story. He was both God and human. He lived a normal life, but lived it as God. Jesus truly loves each and every one of us. While on earth, Jesus talked with everyone that would listen, even healing them and making them promises. He even submitted to an unjust death sentence for all of us. But that wasn't the end. After three days, He rose up out of His grave. Alive! God saw and planned the death of His Son Jesus as payment for our sins. Jesus took our place on a cross over 2000 plus years ago! Therefore, Jesus overcame death, actually came back to life to show us His celestial power. And His power over sin and death is ours just for the asking.

This has been proven through the Bible. It says that “She will give birth to a son, and you are to give him the name Jesus, because he will save his people from their sins.” Matthew 1:21, NIV

Ever since Jesus came to earth, people have had questions. As life becomes more and more complicated, chaotic and society in general has become more decadent and hurtful, we now know people are asking more and more questions about this life and society in general. However, the most important decision we will ever make in our life is what we decide about Jesus Christ. God is actually looking for only two simple things:

· Will you turn your life over to your Creator and believe that Jesus Christ is that one Person, that one relationship you need?

· Will you admit you need Him and confess your wrongdoing to Him?

By us actually doing these two simple things we are guaranteed a place in God's family. This simply means turning to God and asking Christ to be part of our lives. God has already implemented that ability when He planned His Plan of Salvation. That occurred when His only begotten Son died for us. Turning to God means we are turning from something. If we turn to the right, we must turn from the left, thus, we cannot face two totally different directions at the same time. It is also the same with Jesus Christ and sin. Only as we turn to Him, we are able to "repent", which means we comprehend that we cannot fully embrace Jesus and His teachings while hanging onto our sin. The same sins He died for. That means turning our back on wrong choices such as judging people, lying, sexual immorality, becoming quick to anger, etc. in order to begin doing things God's way.

So, the big question for most of us is how do we turn towards God? God only asks that we do the four simple actions.

· Admit your spiritual need. Admit we are sinners.

· Believe that Jesus Christ died for Us and/or You on the cross.

· Receive Jesus Christ into our hearts and our life, thereby choosing this relationship over our current life of sin and separation from Him.

· Being repentant and willing to turn from sin.

Remember that the Bible tells us that, “But as many as received Him, to them He gave the right to become children of God, even to those who believe in His name.” John 1:12, KJV

Therefore, we all can belong to God from today forward, but only if we will tell Him with total sincerity. Your prayer should be our own because it needs to flow from deep within us. If you have a need I have written a sample of what you might say to God:

Lord, I know that I am a sinner and need Your forgiveness. I was made for You, but I've been living for me. I want to begin a relationship with You now. I believe that You died in my place, to pay the penalty for my sin, and rose again for my salvation. I want to turn from my sins. I now invite You to come into my heart and life as my Lord and Savior. In Jesus' name.

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melvinfellerstuff · 5 years

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Is Retirement a Reality Today in America by Melvin Feller MA

The current strategy most Americans use to save and invest for retirement is fundamentally flawed. In order to evaluate the effectiveness of any strategy in an empirical way let’s look at the final results. Then let’s compare them to the results you employed the strategy to achieve.

I will go through that very process using two well-known and often quoted studies.

First, a 2016 study performed by the Employee Benefit Research institute found that the average Baby Boomer had an average balance of $77,000 in their retirement account at retirement age. The same study performed recently, found that average balance has risen to $127,000 following the bull market of recent years.

Second, a 2018 study performed by the US Census found that the average college graduate (undergraduate) earns a little over $2M in their lifetime. Graduates with higher level degrees earned $2.5M (masters) and $3.5M (doctoral). But let’s stick with the undergraduate figure for the purposes of this article.

The math here is shocking and unforgiving! After 40+ years of working, earning, saving and investing the average “retiree” ends up with a little less than 2 years salary in their nest egg?! After four decades of tax-deferred 401K contributions, employer matches, double digit average market returns you arrive to find an account with 6% of your lifetime earnings?!

According to Melvin Feller MA, a business consultant, many boomers invested when the market was at the peak and pulled their money out at the bottom because they were fearful. Yes, they may have neglected to invest during the early years because they weren’t thinking about retirement then. Yes, their portfolios were probably not as diversified as they should have been. And finally, yes, they could have had much more money at retirement if they had the discipline of a robot and were completely unfazed by a 30-40% drop in the market.

All that considered, some bothersome questions remain. Is this the outcome Baby Boomers signed up for when they invested their hard-earned money? If given a do-over, would they do it again? My feeling is of course not.

The majority of retirement age folks in this predicament the only remaining option is to work much longer than they had first anticipated. But what about future retirees who are 15, 20, 30 years from retirement? After seeing the sad ending to this situation, the major question to ask, do you still follow the same path on resolve or do you shift strategy, direction and ultimately destination?

America has always been called the “land of opportunity” and nowhere is this more evident than the above example. Unlike most countries around the world, an average college graduate earns a couple of million dollars in their lifetime. Think about that. Not the outstanding, exceptional college graduate – the average. Just the average, grades are not important in this scenario.

If this average graduate simply saved a dime out of every dollar they earned and they never invested it at all, they would end up with 2 to 3 times more in their retirement account than the average retirement-age Boomers.

When you first consider investing in real estate long term, fear of loss promptly ensues. After all, there are many unknown variables:

How do you know if it’s the right property?

What if the tenants are a major hassle?

What if it doesn’t rent quickly?

What if there’s a major repair?

I put this article together in order to make one simple yet crucial point: Is retirement a reality today in America?

When you live in a country where the average college graduate makes over $2M in earnings in their lifetime, that’s a major opportunity. If you squander the opportunity to make something beautiful, to become financially independent and built wealth, the regret will be way more painful than any temporary fear of loss. If all you have to show for millions in earnings is 40 years of expenses, that will be a shame. You should always be moving ahead financially. However, the older you get the faster you should move financially!

#retirement #retire #retire with real estate #wealth #wealth creation #create wealth #creating wealth #building wealth #Melvin #melvin feller #business Group of Melvin Feller #Melvin feller in texas #melvin feller in Oklahoma #melvin feller business group #melvin feller business ministries

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ourmrmel · 5 years

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Every Wealthy Person Owns Real Estate in Oklahoma and Texas and Here is Why by Mel Feller MPA, MHR

Mel Feller is the President/Founder of Mel Feller Seminars with Coaching for Success 360, Inc. He also owns Mel Feller Ministries. Mel Feller is an Innovator, Business Leader, Investor and Entrepreneur. Mel Feller is currently working closely with his son-in-law and partner on an incubator for young…

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melvinfellerstuff · 5 years

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Melvin Feller MA Defines the Reasons for Personal Development

The Melvin Feller Group is a leadership consulting and business training company serving the United States, Canada and Australia since 1998. CEO Melvin Feller offers expertise in a variety of areas that include business sales and profitability, result oriented leadership, goal setting, productivity, and communication. Melvin Feller targets solutions to strive for result in higher profits, engaged and committed employees, and improved client relationships.

Many years ago, I had a conversation with someone that I respected at that time when he burst out the term ‘Quality of Life’. In fact, he asked me this: ‘What is your definition when it comes to your own Life Quality and most importantly… What are you going to do about it?’

I have to admit that back then that was a waving flag for me as my discussion partner already had the ideal quality life that I had in mind as my desired one. I wanted to learn more about this and go deeper. Furthermore, I wanted to find a surefire way to obtain this quality of life for myself.

People use the general term “quality of life” aiming to measure somehow the level of well-being not only individually but for societies also. The term covers a broad range of topics, such as the healthcare system, and political affairs and international development.

Quality of life is a phrase term that is frequently misinterpreted as the representation of the “standard of living”. The ‘Living Standards depend on the level of income a person is making. On the other hand, the main indicating factors that can define the quality of life incorporate not only the financial situation and the status or state of employment a person enjoys, but also the overall and wider environment they live in.

An environment that consists of the following:

Mental and Physical Health

Education

Time for Recreation and Leisure

The Sense of Social Belonging

In addition

The sense of Freedom

Human rights

The feeling of Happiness

Now, Happiness is very hard to measure as each one has their own individualized perception of what being happy means. It’s a personal thing. Personally, I strongly support and believe that quality life definitely includes the feeling of personal happiness and self-recognition.

And how can a person get the reward of having a quality life?

Melvin Feller MA firmly believes that personal development is actually a process of individual self-growth as well as development of other people. At the level of the particular person, personal development comes with ambitions, strategies or steps oriented towards a number of the following goals:

1) Improving self-awareness.

2) Enhancing self-knowledge.

3) Building or renewing id.

4) Developing advantages or talents.

5) Distinguishing and improving potential.

6) Building employee’s abilities and people – human capital.

7) Enhancing each one’s chosen lifestyle.

8) Gratifying individual aspirations.

9) Defining and carrying out self-improvement projects.

The concept contains a broader field compared to self-improvement or self-help: personal development furthermore includes improving many others. This may happen by means of roles for example those of a teacher or advisor, most likely through a particular skill including the expertise of specified managers in increasing the potential of employees) or any skilled company like providing training, appraisal as well as mentoring.

Further than enhancing yourself and also improving others, personal development is often a region of training as well as research. Being a field of exercise, it provides personal development procedures, studying plans, evaluation systems, resources and strategies. Being a field of study, self-development topics progressively can be found in scientific publications, advanced degree reviews, management magazines and books.

Any sort of progress — whether or not commercial, political, biological, business or personal — needs a framework if an individual wants to find out whether or not transformation has definitely happened. Regarding personal development, a person often operates as the main judge of improvement, but validation regarding objective improvement usually requires assessment making use of regular key elements.

Personal development frameworks can sometimes include targets or even benchmarks which determine the end-points, practices or plans for accomplishing goals, measurement and review of progress, levels or periods that will identify goals along an improvement avenue, and a feed-back system to deliver information on improvements.

Developing Yourself

At the actual level involving personal development someone can possibly elaborate individual growth to incorporate this type of aspects as:

1. Transforming into the individual one aspires to be.

2. Establishing social character via self-identification.

3. Maximizing common internal understanding or identifying of one’s main concerns.

4. Increasing awareness or defining associated with someone’s beliefs.

5. Increasing awareness as well as understanding an individual’s selected chosen lifestyle.

6. Increasing awareness or understanding of a person’s ethics.

7. Strategizing as well as acknowledging hopes and dreams, aspirations, professional and life-style priorities.

8. Generating professional ability.

9. Developing skillsets.

10. Developing personal expertise.

11. Mastering upon the actual given task each and every time.

12. Developing the quality of chosen lifestyle within such aspects as wellness, prosperity, traditions, family, friends in addition to communities.

13. Grasping strategies or approaches in order to increase awareness.

14. Mastering skills and strategies to gain control of your existence.

15. Discovering new techniques or methods to accomplish intelligence.

Personal Development is a single way street regarding just about every individual in order to inspire themselves and in the long run manage their own lives path.

To ensure that people to take accountability for all the successes and downfalls, grow to be content individuals and arm themselves with limitless and continuous internal strength and power to overcome problems, Personal development training without a single doubt is the next best thing.

The Melvin Feller Group is a leadership consulting and business training company serving the United States, Canada and Australia since 1998. CEO Melvin Feller offers expertise in a variety of areas that include business sales and profitability, result oriented leadership, goal setting, productivity, and communication. Melvin Feller's targeted solutions strive to result in higher profits, engaged and committed employees, and improved client relationships.

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melvinfellerstuff · 5 years

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Be the Best You can Be! Follow Your Goals! By Melvin Feller MA

As a business person, running Melvin Feller Business Group and other ventures, I have always had an incredible drive to work hard. I am motivated and driven and focused on getting an incredible amount done, and all of it is positive, nonetheless my problem lies in fact that I regularly don’t know how to put things down and stop working for the night. There is always one more email, one more phone call, one more contract to review, and the list goes on and on and on. Often times it’s so late at night when I finish working that I only have time to eat a late meal and go right to bed, only to wake up early the next morning and start over again.

As a person, I get so busy with being busy that I forget the importance of balance in one’s life. I forget the need to step back occasionally, take a deep breath, meditate, take a walk, and enjoy the smell of the Roses.

In the meantime, I wanted to share with you my uppermost goals for the last quarter of the year — for my life in general. I hope this will inspire you to take a look at your own goals for 2020 and see if you would want to add some of these to your list. I pray this list inspires you to make taking care of yourself while you also consider those around you. Remember, at the end of the day, or the end of your life, these are the things that really matter!

Health:

Drink plenty of water.

Eat breakfast like a king, lunch like a prince and dinner like a beggar.

Eat more foods that grow on trees and plants & eat less food that is manufactured in plants.

Live with the 3 E’s — Energy, Enthusiasm and Empathy

Make time to pray.

Play more games

Read more books than you did in 2019

Sit in silence for at least 10 minutes each day

Sleep for 7 hours or more every night.

Take a 10–30 minute walks daily. And while you walk, think grateful thoughts and smile.

Personality:

Don’t compare your life to others. You have no idea what their journey is all about.

Don’t have negative thoughts or things you cannot control. Instead invest your energy in the positive present moment.

Don’t over-do it. Keep to your limits and make them reasonable.

Don’t take yourself so seriously. No one else does.

Don’t waste your precious energy on gossip.

Dream more while you are awake

Envy is a waste of time. You already have all you need.

Forget issues of the past. Don’t remind others with their mistakes of the past.

Life is too short to waste time hating anyone. Don’t hate.

Make peace with your past so it won’t spoil the present.

No one is in charge of your happiness except you.

Realize life is school & you are here to learn. Problems are simply part of the curriculum — they appear & fade away like algebra class; but the lessons you learn last a lifetime.

Smile and laugh more.

You don’t have to win every argument. Agree to disagree.

Avoid hanging around those who don’t support your aspirations

to do, be, give and have all that you wish for.

Society:

Spend a few minutes talking to each member of your family often.

Each day give something good to others.

Forgive everyone for everything.

Spend time w/ people over the age of 70 & under the age of 13.

Try to make at least three people smile each day.

Make what other people think of you none of your concern.

Your job won’t take care of you when you are sick. Your friends will. Stay in touch.

Life:

Do the right thing!

Stay away from anything that isn’t useful, beautiful or joyful.

Remember, with time, GOD heals everything.

However good or bad a situation is, know it will change.

No matter how you feel… get up, dress up and show up.

Always focus on — “The best is yet to come”

When you awake alive in the morning, thank GOD for it.

Your Inner most is always happy. Let it show — be happy.

#goals #goal setting #goal #setting goals #Company Goals #smart goals #success #become successful #successful #business success #How to Succeed #Melvin #melvin feller #business Group of Melvin Feller #melvin feller business group #melvin feller in oklahoma #Melvin feller in texas

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melvinfellerstuff · 5 years

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Secrets of the Truly Rich and How They Believe by Melvin Feller MA

Melvin Feller asks, what are the Success Secrets of the rich and happy? Is there a universal formula to lifelong happiness? Is there an ancient scroll with the secret to accumulating piles of cash and laughing all the way to the bank? If there truly were such a hidden “scroll to success,” it would not include financial spreadsheets and stock tips. It would not talk about exactly what to do to become rich and happy.

Instead, I imagine it would include more noble lessons on who you need to be in order to attract wealth, influential people, resources and opportunities. This scroll would tell curious minds basic principles of the universe, so they can work with the laws of nature instead of against them. In order for such an ancient scroll to have value in today’s world, it would have to discuss humanity on a basis that would last generations. Therefore, a discussion about which technology stock to invest in or the latest tax loophole would not have much value in the long term. Melvin Feller is all about value and adding value to people’s lives no matter who they are!

Whenever, Melvin Feller is asked to speak, he always asks these questions; what do you really want? Seriously, take a moment and think about what specifically would make your life wonderful! What would make you leap out of bed early everyday with jubilance and anticipation equal to a six-year-old on Christmas morning? What are your passions? Is there anything you love to do frequently just because it is fun? What if you have the power within your own mind to create the things you want most in life. What would you create for yourself?

Therefore, here are Melvin Feller’s Secrets of the Truly Rich:

Secret no. 1: Be Totally Responsible for your Success

Stop the Blame

Stop Blaming the Government

Stop Blaming your Family for your Poverty

Stop Blaming God for your Misfortunes

Blaming robs you of your power to determine your life. It leads you to inaction. Instead of looking for ways to improve your situation you are paralyzed and you never stop on blaming others for your misery. Do not wait for prosperity from anyone. If you want prosperity, you have to create it yourself. Only you and God working in you can create the wealth you want.

You are the product of your Thoughts, Choices, and Habits

Each one of us was given the free will to think, to choose, and to act. Remember that you alone are responsible for your actions. You create your life. You create your dreams. Only you have the power over yourself.

Use this to create a new pattern of success.

Your future is in your hands. Start now by changing your destructive habits and create a new pattern of success. Concentrate on the things that you have influence over. Concentrate on what you can do for yourself.

Secret №2: Enlarging your psychological wallet.

Most of us are poor because psychologically we do not want to be rich. Our minds have been programmed to resist money. Our money problems are actually mind problems. Here are some situations why this could be so:

Your mind has been conditioned to think that receiving a lot of money is shameful and is against the will of God.

You are uncomfortable with money. So when you receive more than what you usually earn, you try to get rid of the excess amount as soon as possible.

You parents (the people you grew up with) have made you come to believe that you are poor. Most parents would reprimand their kids telling them not to insist on buying this or that stating that ‘we don’t have money and we are poor’ as the main reason. This somehow conditions the mind of the child to think that he/she is poor.

Subconsciously, you could be believing that money is bad, that rich people are evil, and that doing business is dirty. Subconsciously, you are avoiding wealth.

How do you overcome this?

You must increase your money comfort zone. You must learn to be comfortable to receive money.

One way is to visualize and imagine receiving money. See yourself earning double of what you are earning now. Get comfortable with that.

Improve your self-image. At the end of the day, who you are does not count. It is who you THINK you are that determines your SUCCESS.

Align your desires with the results that you want. Contradicting desires create contradicting results.

Rip out your negative family labels.

After you have changed your mindset, it is time to enlarge your skills to match the size of your psychological wallet. Read financial books, ask financial mentors, read personal finance blogs like this one, learn how to invest, start your own business, and reap the benefits of earning passive income.

Secret №3: Get rid of religious beliefs that may be hindering you from accepting money and

becoming financially free. More than you know it, your religious beliefs actually contribute in determining your wealth. Melvin Feller states, “Religious beliefs are so deep, so wedged to your core identity, you follow them even if you’re not aware that you’re following them.”

Point #1: Have you romanticized Poverty?

Religion can romanticize poverty. We can be led to think that to be poor is better than to be rich because God favors the poor. We can believe that poor people go to heaven and that rich people go to hell. We must not think this way. Instead, it is true that God loves the poor and favors them but that is because he wants to accompany them in their difficult journey so that they can RISE FROM POVERTY. God does not want you to remain poor!

Point #2: Do you believe that the Rich will not enter Heaven?

God did not say that it is impossible for the rich to enter heaven. God also needs the godly people who will run businesses, give jobs, and bless the world with great services and great products.

Point #3: Do you practice the “I hate myself” Spirituality?

Some people remain poor because they believe they are being punished, that it is the will of God. When God sees us in poverty, He weeps. He does not want to see us suffer.

Point #4: Have you relied on God too much?

Melvin Feller believes that “one of the biggest reasons why we don’t receive God’s blessings is because we rely on Him too much. We surrender to Him what He doesn’t want us to surrender: our stewardship.” Do not expect God to do the very things He expects YOU to do.

Point #5: Do you disguise your laziness as faith?

Most of us wants God to hand us everything on a silver platter, to the extent that we do not exert enough effort to get what we want anymore. Do not confuse faith with your laziness. Faith requires action. God usually uses the sweat, the effort, the tears and the struggle you go through to form your character and give you what you need.

Point #6: Are you obsessed with the Purely Miraculous?

Sometimes we get too obsessed with receiving miracles in our lives. We tend buy lottery tickets and ask God to let us win. Although God sometimes grant these wishes, it would be too much to ask of this every day and simply do nothing in exchange.

Point #7: If your favorite phrase is “I Leave it up to You”.

Religion can cause us to rely on fate too much, leaving everything to God. We must learn to do our parts as well in order to allow God to do his miracles in our lives. God designed us to work and trust — not simply to trust.

The first three Secrets deal with changing our mindsets when it comes to money, wealth, and being rich. The secret will focus on how you can achieve your goals by being committed to your dreams.

Secret №4: Be Completely Committed to Your Dreams

Melvin Feller defines three levels of desire: Wish, Want, and Commitment. When we WISH we just hope for something to happen but actually do nothing to fulfill that wish. Usually, nothing happens at this level. When we WANT something, we put in a little action to fulfill that want. Unfortunately, though, the passion does not last that long and we abandon the goal after a while. The third level is COMMITMENT. When we are committed, we start to believe what we say and we work towards achieving that dream for the long run. If we want to be rich, we have to be COMMITTED.

Melvin Feller also defines three types of living: Moviegoer, Actor, and Actor-Scriptwriter. Moviegoers watch the movies of their lives, admiring some parts and criticizing other parts but aside from that, they do not do anything else. Actors are those that do not only watch the movie of their lives but also realize that they can control a big part of their lives. They enjoy some level of control but they realize that they have no say in such things as deciding the ending of the movie. Actor-Scriptwriters are those that do not only watch, do not only act, but also actually create the entire movie from their minds. They determine what they will say and how the movie will end.

You have the power to create the life you want. Be the scriptwriter of your life.

In committing to your goals and dreams, it is important to do the following:

Write down your Dreams!

Read your Dreams Every day!

Apply the Power of Focus.

Apply the Power of Attraction.

By writing your dreams, you open yourself to life’s river of abundance. Be as detailed as you can get. In addition, when you read what you wrote down daily, you multiply the power of that river tenfold. If you will do this every day, you will be surprised at how moneymaking opportunities will open up before you. Actually, they are already there, waiting for you to discover them. The universe adjusts to your expectations. So instead of you searching for money, let money search for you. Attract money and become and money magnet.

Secret №5: Raise Your Financial I.Q.

Some people think that buying books or attending seminars about finance / personal finance are a waste of money. However, what these people do not know is that being financially ignorant is actually more expensive! You may be an expert in your current profession but knowing How money works is a totally different field of expertise. Lesson 1: Avoid Bad Debt like Bad Bacteria Robert Kiyosaki in his bestselling book Rich Dad, Poor Dad explained that bad debt is when we buy things that take money away from our pockets. Melvin Feller goes on to suggest the following crucial actions you need to make if you are buried under a lot of debt.

Declare your Freedom Day

Set a target date when you want to be debt-free and call if your Freedom Day. Read, think, and pray about it daily. Focus on your freedom and not on all your debts.

Create New Ways of Pleasure

Examine your lifestyle and cut back on your expenses. Find new and simple ways of joy, and pleasure. Preferably, find substitutes that are free or much less expensive but that can provide the same level of pleasure or even more.

Schedule Your Steps to Freedom

Schedule your debt payments. Start paying off high-interest loans first. Try looking for loans with lower interests, where you can transfer your current high-interest loans.

Do not Borrow When You Can’t Afford it — Period!

Melvin Feller also suggests, “Don’t borrow to buy consumer goods ever again. If you don’t have money right now to buy it, then don’t buy it.” If you cannot discipline yourself to use credit cards then get rid of them.

Negotiate with Your Creditors

Banks and other lending institutions are ran by human beings after all. Meet with them regularly and assure them that you will pay. Negotiate with them. Ask them if they can lower the interest rate. Do not back down simply because they say it is policy. Everything is negotiable.

Secret №6: Ride Something to Wealth!

Melvin Feller encourages us to ride as many vehicles to wealth. We can choose to ride bicycles, cars, or even airplanes to wealth!

By riding vehicles to wealth, Feller emphasizes the importance of having multiple income streams. It does not matter how small the income stream is as long as there is an inflow of cash. Another point Feller stresses is the importance of profit over wages. Profit, of thought process, is achieved by running your own business as opposed to receiving wages as an employee.

Melvin Feller uses the analogy to going from one place to another to illustrate the importance of riding vehicles to wealth. Let us say you want to get from point A to point B, one can either walk, ride a bicycle, ride a car, or ride an airplane to reach point B. The difference is on how fast each alternative will get you to your destination. Definitely walking will take you the longest time to reach your destination while riding an airplane will most likely get you there faster.

In our case as money magnets, our goal is to become financially free. We want to become wealthy enough so that in the future we do not have to worry on a daily basis about where to get money to spend for our daily needs. On certain occasions, we may also want extra money for luxurious and leisurely activities. Walking to reach our goal equates to leaving our money in regular savings accounts and time deposits. Although our money earns interest, it will take years before the earnings become meaningful. On the other hand, Feller likens riding a bicycle to investing our money in Investment funds. Investment funds can be either UITFs, Mutual Funds, or Stocks. By investing our savings in Investment funds, we can potentially earn more and reach our goal faster.

Secret №7: Create a bias for Action

This is the secret to just make things happen!

While we are taught to aim before we fire, Feller on the other hand uses “Ready … Fire! Aim …(And fire again … Aim …)” on his projects. Melvin Feller, of course, does not encourage recklessness. That is why the first step is “Ready.” He just wants to discourage what most of us are likely to end up doing — that is to keep on aiming but never fire. As one of the Truly Rich Principles, Feller explains, “For pioneers, perfectionism is never a good strategy.” We must allow ourselves to fail. Moreover, when we do, we must then learn to forgive ourselves and bring ourselves to act again.

Not all success can be counted in dollars; not all richness is measured by money. “The great secret of success is to go through life as a person who never gets used up,” said Albert Schweitzer.

“Retire upon yourself and look for the ultimate cause of things inside you.” Look within yourself for the ultimate inspiration, and follow the true feelings you discover. “One of my favorite methods is to whisper,” said Alfred Hitchcock. “I’ve discovered the best work is done with sweet reason.”

Act upon your own conscience -that guides; that judges your actions and signals your behavior. “Conscience is the inner voice that warns us that someone may be looking,” wrote H.L. Mencken.

Accomplish what you desire; fulfill your inner yearnings. However, do not compromise your deepest feelings. “We do our best that we know how at the moment, and if it doesn’t turn out, we modify it,” said F.D. Roosevelt. Follow the paths that life offers you and live the fullest existence you can.

Look. Look at yourself and look at those who have succeeded throughout history. Do you have what it takes? Even if you have only a few of the qualities of the other great people, you can achieve your heart’s desire.

Reach for the highest, and then reach higher. Accomplish your steps one by one on a daily basis, always moving forward, always making progress. Encourage yourself. Insist that you can succeed and affirm these thoughts daily.

Keep a sense of proportion and judge for yourself. Then keep busy at the tasks you have set out to accomplish. What is keeping you? “Genius is one percent inspiration and ninety-nine percent perspiration,” said Albert Einstein.

Find inspiration wherever you can. Talk to people; read about people; learn your business or craft. Believe that you can do it and you will. The only way to dispel the doubt that you can do something is to finish it.

Always be the best you can be. Never fall short from fatigue or lethargy. Do not attempt to do anything that you cannot give your all to.

There is no way to inner satisfaction without appealing to the higher consciousness. Search within and without to find the paths that are meant for you and follow them with conviction and a steady heart. Moreover, you will succeed to become as rich and full as you ever desired.

Harold Ickes wanted the “freedom to live one’s life with the window of the soul open to new thoughts, new ideas and new aspirations.”

In addition, Woody Allen looked for a clear path. “If only God would give me some clear sign” he said. “Like making a large deposit in my name at a Swiss bank.”

Finally, Sophie Tucker sums up everyone’s worldly outlook: “I’ve been rich and I’ve been poor,” she said. “Rich is better.”

Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skill set for success. This is main reason that he has been the sought after coach to hundreds of small business owners, entrepreneurs, Realtors, real estate investors and service professional internationally. Melvin Feller’s main talent is to show you how the step by step process to build and enjoy a successful 6-figure plus business while having a balanced life. Melvin Feller maintains offices in Texas and Oklahoma.

Melvin Feller MA is in Texas and in Oklahoma. Melvin Feller founded Melvin Feller Business Group in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.

#wealth #wealth creation #creating wealth #create wealth #building wealth #rich #getting rich #think positive thought #create abundunt thoughts #personal #personal development #meaning of life #life skills #life change #Melvin #melvin feller #business Group of Melvin Feller #Melvin feller in texas #melvin feller in Oklahoma

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melvinfellerstuff · 5 years

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Melvin Feller MA Recommends Various Types of Wealth Accumulation Methods in Oklahoma and Texas

Melvin Feller knows that people love real estate or stocks. However, this is about stocks because over the weekend my brother asked me a question about a mutual fund he owned. How do you decide when to sell my stock or mutual fund?

I always go through a series of questions when looking at making any changes in my investments. They work for just about any type of investment. The biggest one is Why did I buy it? Before you ask if it is the right thing to sell my stock, you should ask why I bought it.

Knowing the reason you bought it can help you understand where it fits in your current investment portfolio. You did have a reason when you bought it did you not? I have found this to be one of the toughest questions for people to answer. Most do not know. They honestly don’t know why they bought the stock.

A friend suggested it to them. They read a hot tip in an email they got. They saw it on CNBC as a Must Buy. They did proper research and saw it fit into their current investment desires and risk tolerances and outlook on the economy. They liked the name of the company.

I have even had someone tell me they bought it because the ticker symbol looked cute. (Probably not the best way to make a decision on buying a stock by the way). If you made your decision this way, the answer to should I sell my stock is definitely YES as you probably do not need to be investing in the stock market.

Therefore, in my brother’s case, he had done his proper research and it fit his requirements.

Unfortunately, the stock has not performed up to expectations.

Therefore, the next thing you need to ask. What has changed? Has something change to make me want to sell my stock?

If it is a sector-based fund, has the economic future changed for it? Remember a mutual fund is generally made of stock in individual companies. Look at the major holdings of the fund and treat each one as an individual stock.

For a single company, have things changed?

Management changes (upper management leaving can cause a drop in performance as the company loses direction).

If a stock has not been performing well, a management change can be good for it. Often it is more important to dig deeper and understand why they are making the change. If you see wholesale change such as several layers of management or the majority of senior leadership change, then it is time to be concerned.

Environment changes (The environment here is not the great outdoors. It is the landscape that the company operates within.)

Have the laws changes making it more difficult to grow? It could be driven by lawsuits or antitrust considerations. It could be changes in tax law as well. Some industries have benefited by allows consumers to claim credits to offset the higher cost of their technology. Alternative energy is a prime example. At one time huge incentives could be found for companies in this field. With sky rocketing oil prices, they were the hottest thing on the market.

Have competitors introduced new technology that make you obsolete (Think word processors vs typewriters).

Has your new technology not proven itself? (Drug companies run into this all the time as new drugs look promising but then fail to meet expectations). Small pharma companies can be a roller coaster ride. Large pharma companies can have very reliable earnings as they have many products out in the market. Any softness they find in one area can be offset with improvements in another.

Smaller drug companies usually are more dependent on new drugs being approved. If they do, the stock of the company can do very well. If they do not it can tank very quickly. Any penny stock should only be used for the part of your portfolio that you like to gamble with. Extreme returns can be common (1,000x up or near complete loss).

Performance changes — The stock price in most cases is based on past performance of the company and expected future performance. It is also impacted a lot by momentum traders who do not look at the fundamentals of the company but only rely on the current price increases.

If something changes to impact future projections, the stock price can change. Some of those could be execution. Every company has a strategic plan they need to execute to reach their goals. If they fail to execute them, their profitability can be impacted.

It may be the loss of a major client. Companies are required to publish if they have any single customer that provides a substantial percentage of their business. If that customer leaves, it can have a much larger impact on the profit than you may expect. We will explain the concept of profit on the margin in a later post.

Change in Strategy = Sometimes a company will decide to make a change of strategy internally.

This is often done because they see a need to change based on the environment changing. Changing strategy can be difficult to execute. IBM is a good example of this. They have made a couple of strategy changes over the years. The performance of the company may change short term as they make these changes.

So back to the original question — Should I sell my stock?

What if nothing has changed? Should I sell my stock then?

Maybe. You could have been wrong about your reasons for investing. If the stock performance has not met expectations, then you should still consider selling it.

Usually when I decide if I should sell my stock, I use one simple question. That is it. Just one little question.

If I did not own it would I buy it today? Yes deciding to sell my stock is really a buying a question.

Money invested in a stock cannot be put to use in other places. That puts us into opportunity costs. Opportunity costs are not real costs. They do not show up on a balance sheet or net worth statement.

They do show up as a silent killer of our retirement funds though. Say you decide to stay invested in a stock over a 10-year period and it does not go anywhere. Each year that money could have been invested in something that generates an ROI (return on investment). The opportunity cost is the cost of staying invested in a non-performing asset versus a very safe investment like T-bills.

So when I decide if I am going to sell my stock, I ask myself is this the best place for my money to be right now? That can be a tough question to answer at times but is the only way I know to take the psychology of sunk costs out of the equation.

So to decide if I should sell my stock, decide if it were something, you would buy now if you were not already invested in it. If the answer is no, then sell it. If the answer is yes, then keep it.

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melvinfellerstuff · 5 years

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Melvin Feller MA Discusses Reasons Why Should Choose Your Goals Wisely

According to Melvin Feller most, entrepreneurs do not like to set like to goals. Melvin Feller suggests that a smarter move would be to learn why you need to consider your goals carefully. This can be done by carefully considering the benefits of creating a bird’s-eye-view list of goals you want to achieve from now until the rest of your life.

Therefore, Melvin Feller feels that there is no way to get somewhere if you do not know where you are going. Goals are landmarks on a map. They are direction for you to take that will benefit you once you get there.

Therefore, if you did not make your list, please stop reading now, go back, and make your list now. We will be here when you get back….

Ok, now that you have your long list of goals, the next step in the process is choosing which ones are most important. Do not neglect this step! Most people can focus and achieve one major goal per year. I will show you how you can do more than one, but you still need to choose your top 5 or 10 goals for the next year.

People who never make a choice end up failing.

Why?

Because there is no focus.

Imagine you wanted to cut a piece of wood in half. You have three tools to choose from a baseball bat, a steel rod, or a razor sharp cutting saw. What tool would you choose? The saw of course!

Why? Because the saw’s focus is on one thing and one thing only – efficient cutting. The baseball bat drawn across wood is not focused on a single point; it is too wide to cut anything. The same thing is true with a steel rod.

Therefore, by choosing your topmost goals and especially your #1 goal is the most important. It gives you focus. It gives you direction. Additionally, it gives you a strong purpose to shoot for.

Have you ever heard of people getting depressed because they feel they do not have a purpose or direction? Having a major goal – something to work toward is liberating and creates feelings of happiness and wellbeing.

How to choose your top goals

At first glance, it may seem very simple to choose your top goal(s) – but not so fast. There is a VERY Important thought for you to consider. That is how you will follow through on your choice.

You must choose a goal you will enjoy following through on until it is complete. Let me give you an example of how most people get this wrong.

Many of my clients just pick something like “To have an extra $30,000 in the bank.” While that goal is inspiring for some people. It does not inspire everyone. For someone like me, I do not like shooting for a piece of paper (i.e. a bank statement with the number 30,000 on it). I will get bored within the first week. Instead, what makes more sense is to use a goal that eventually leads to a $30,000 payday. A goal like starting a home business gets the $30,000 done but in a much more fun way. Does this make sense?

I recommend people choose a goal that involves action and interest. A goal to lose 10 lbs. does not thrill me to death. However, a go from the couch to a 5k run sounds exciting. Losing 10 lbs. becomes a by-product of running a 5k.

Choosing the right top goal does involve some soul searching. However, it is worth every minute.

Be wise. Select an inspiring, exciting and fun top goal and you will get it done.

#goals #goal setting #business goals #accomplish your goals #setting your goals #how to set your goals #setting goals #create a list of goals #listing your goals #creating your goals #Melvin #business Group of Melvin Feller #melvin feller business group #Melvin feller in texas #melvin feller in Oklahoma #melvin feller ma #melvin feller

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melvinfellerstuff · 5 years

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Melvin Feller MA Discusses Raising Money for Your Business in Oklahoma and Texas

According to Melvin Feller, a long time entrepreneur and business specialist, capital is one of the first things that need to be taken into consideration when one is setting out on a business venture, and there are many different sources to obtain this capital. It is not necessary to stick to one particular source rigidly; even a combination of various different sources can be made use of. Melvin Feller tells anyone who is wondering how to raise money for a restaurant, a small business, an advertising agency or any other small-scale venture should keep these methods in mind. Approaching the right people for the money is vitally important for the success of the business, and if this is not catered to properly, the business will be doomed from the very beginning.

Personal Savings

This is the most obvious source of money for starting a business. If you have saved up enough money over the years, go ahead and make use of it for your business. You will not be answerable to anyone, and you will not have to worry about repaying someone. If you choose this option, ensure that you are not using all your savings though. Many people neglect this option because if they lose the money, they will have nothing left to live on.

Venture Capitalists

This is the next most obvious source for your potential business. Venture capitalists are professional agencies who put in money, or venture capital, into an upcoming business. What they get in return is either a share of the business, or a share of the profits, or high interest rates. It may sound like exploitation, but this is one of the best ways to get money. Venture capitalists are always looking for new and innovative business ideas that are likely to succeed.

Angel Investors

These are a refined form of venture capitalists, but many people think they mean the same thing. Angel investors are less demanding than venture capitalists, and are with your business in the end. Usually, they are someone who you would know personally, and they are simply looking for ways to get a higher return on their investment. How companies raise money depends a lot on the nature of the business, and the method of entrepreneurship adopted. Angel investors also help the business by providing some guidance and mentoring.

Personal Borrowings

Here is a method that should be avoided as far as possible. You can borrow money from someone you know, namely your friends, family or other people. The problem here is that once you mix business and personal relationships, things start to get a bit sour. This is a situation that needs to be handled with great tact and diplomacy, and not everyone can manage to do that. Still, many people opt for this method.

Bank Loans

Another answer to how to raise money for a small business is to approach a bank for a small business loan. With banks, you will not be required to pay a very high interest rate, but you will need sufficient documentation about the business model of your business. Along with that, your credit history and financial stability will also be scrutinized, to see if you are worthy of getting the loan. Most people would love to get a bank loan, but are simply not eligible. This is especially true for someone who is wondering how to raise money to start a business without owning any fixed assets.

Advertising

Here is another answer, but one that requires a suitable amount of investment, and more than a fair share of patience. If you can handle the advertising of your upcoming company well, you can get more than enough money to sustain it in the end. Some websites also let you advertise your business plan, and then suit you up with a matching investor. This is a slightly unreliable method for sure, but it works wonders if one can find the right match. People wondering how to raise money for a marketing campaign, can use the methods already mentioned above.

Other Options

One can approach some small business investment companies, some business development commissions, some life insurance companies or a money broker as well. The reliability of these other options will not be very high, and their demands may be exorbitant, but if you have run out of all other options, then this is something that you will need to resort to.

You should move as soon as possible in order to get as much capital and business financing as you can. There are varieties of sources available to you, and as long as you have a great and reliable business plan, you will be able to procure capital. It is not very difficult to raise enough money for a business, but all you need, more than anything else, is the faith and belief in yourself.

#business startup #starting a business #raising money #money for business #startup money #raising money to start a business #online business #how to start a business #start #start you own business #melvin feller #melvin feller business group #melvin feller coaching #melvin feller in Oklahoma #melvin feller in texas

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melvinfellerstuff · 5 years

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Melvin Feller MA Looks at the Dos and Donts of a Business Startup

Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skill set for success. This is main reason that he has been the sought after coach to hundreds of small business owners, entrepreneurs, Realtors, Real estate investors and service professional internationally. Melvin Feller’s main talent is to show you how the step by step process to build and enjoy a successful 6-figure plus business while having a balanced life. Melvin Feller maintains an office in Texas. Melvin Feller is currently pursuing another graduate degree as an MBA.

Here are some important overall considerations you need to think about before starting your business.

THE TOP TEN DO'S WHEN STARTING A BUSINESS

Live frugally and begin saving up money for starting your business.

Learn your intended business by working for someone else in the same business first.

Consider the benefits of starting a moonlight business.

Consider the advantages of operating a family business.

Objectively measure your skills and training against potential competition.

Consider subcontracting to low cost suppliers if you are manufacturing a product.

Test market your product or service before starting or expanding.

Make "for" and "against" lists describing the specific business you are considering.

Talk to lots of people in your intended business for advice.

Make a comparative analysis of all the opportunities you are considering.

THE TOP TEN DON'TS WHEN STARTING A BUSINESS

Think about leaving your job before you have completed start-up plans.

Consider starting a business in a field you do not enjoy.

Risk all the family assets. Limit your liabilities to a predetermined amount.

Compete with your employer in a moonlight business.

Hurry to select a business. There is no penalty for missed opportunities.

Select a business that is too high a risk or hurdle. Go for the two-foot hurdle.

Select a business in which you must have the lowest price to succeed.

Ignore the negative aspects of an intended business.

Permit self-confidence to outweigh careful diligence.

Allow the promise of a conceptual high reward deter reality testing first.

Melvin Feller MA is in Texas and in Oklahoma. Melvin Feller founded Melvin Feller Business Group and Melvin Feller Ministries in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes and a positive outreach with grace and as a ministries. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.

#starting a business #business startup #start a new business #entrepreneur #entrepreneurs #entreprenuership #entreprenuerial #small #Small business #small business plan #Running a Business #Melvin #melvin feller #melvin feller business ministries group #business Group of Melvin Feller #Melvin feller in texas #melvin feller ministries.

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melvinfellerstuff · 5 years

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Melvin Feller MA Looks at Emotional Management

Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skill set for success. This is main reason that he has been the sought after coach to hundreds of small business owners, entrepreneurs, Realtors, Real estate investors and service professional internationally. Melvin Feller’s main talent is to show you how the step by step process to build and enjoy a successful 6-figure plus business while having a balanced life. Melvin Feller maintains an office in Texas. Melvin Feller is currently pursuing another graduate degree as an MBA.

Emotions are powerful forces influencing our everyday behavior. Yet until recently, emotions have not received the attention they deserve. The first step in regulating and managing emotions is learning to identify and label them as they occur. This ability often requires not only the ability to observe one’s emotional responses in situations but also to describe with a sense of accuracy the context in which the emotions occur. Hence, learning to identify an emotional response is aided enormously if one can recognize, describe, and understand the major attributes that constitutes each emotion and then use these attributes to create a more effective result. However, for most of us this is not an easy task. But by becoming one with our emotional experiences, we can learn the relationship between our thoughts, feelings, and reactions in order to manage them better.

It starts by understanding how the struggle to meet emotional demands affects you?

Stress cannot be avoided. How we deal with “it” can greatly influence how “it” affects us. Emotional stress is predictable and always has the same effect on ourselves, others, and the environment. For example, when emotional stress persists too long, it causes a reaction. At first, our body will resist the emotional imbalance. We may continue to resist successfully unless the stress continues for too long, too hard, or too often. At some point, our ability to resist will reach a stage of exhaustion and the results are almost always sabotaging, disruptive, or destructive. It is not the emotional stress itself that causes damage, but your ability or inability to successfully cope with it. The three major factors that determine the degree of emotional stress we will experience with any given situation are lack of predictability, lack of control, and lack of outlets for frustration. At Alliance, we realize that the best and most optimal plan for managing emotional stress is prevention—through understanding emotional stress and then creating acceptable coping skills.

76.6% of Americans are faced with the daily effects of emotional-stress

Pressures of Expectations: 41.18%

Frustrations: 39.32%

Conflicts: 19.50%

Emotionally Balanced Professionals Make More Effective Decisions and Choices

The constant question in today’s workplace is if it is possible to improve the social and emotional competence of adult workers. Research in training and development, sports psychology, and behavior change suggests that it is possible, but the typical approach used in present day training programs usually fail to accomplish this intended goal. Social and emotional learning is different from cognitive and technical learning, and it requires a different approach.

From the time we enter kindergarten, our educational systems focus on honing our cognitive or technical skills. Virtually no emphasis is placed on the education of managing the inner conflicts and unbalanced emotions we experience every day. As "emotional intelligence" becomes more widely used and understood, educators are realizing that cognitive ability is not the sole critical determinant of our aptitude to flourish in today's society. Proficiency in emotional management, conflict resolution, communication and interpersonal skills is essential to develop inner self-security and become able to effectively deal with the pressures and obstacles that will inevitably arise in our lives. And it is for this reason, Alliance follows another learning curve.

#emotional management #manageming your emotions #creating your business #business #small business #melvin feller #business Group of Melvin Feller #melvin feller business ministries group #Melvin feller in texas #melvin feller in Oklahoma #melvin feller ma #melvin feller ministries #creating a busines

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melvinfellerstuff · 5 years

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Melvin Feller MA Discusses the Effective Communication

Melvin Feller is known as “The Entrepreneur’s Mentor” because Melvin walks his talk. Melvin Feller has been there and done that and more importantly, Melvin Feller knows how to transfer the skill set for success. This is main reason that he has been the sought after coach to hundreds of small business owners, entrepreneurs, Realtors, Real estate investors and service professional internationally. Melvin Feller’s main talent is to show you how the step by step process to build and enjoy a successful 6-figure plus business while having a balanced life. Melvin Feller maintains an office in Texas. Melvin Feller is currently pursuing another graduate degree as an MBA.

Although all of us have been communicating with others since early childhood, the process of transmitting information from an individual or group to another is a very complex process with many sources of potential error. By the time a message gets from a sender to a receiver, there are four basic places where transmission errors can occur and at each place, there are multitudes of potential sources of error. Social psychologists estimate that there is usually a 40-60% loss of meaning in the transmission of messages from sender to receiver. People in organizations typically spend over 75% of their time in an interpersonal situation. Therefore, it is no surprise to find that at the root of a large number of organizational problems is poor communications. In a work setting, interactions involve people who often do not have years of experience communicating with each other. These interactions are further complicated by the complex relationships that exist at work.

It is critical to understand and be aware of the potential sources of communication barriers and constantly avoid these barriers by making a conscientious effort to make sure there is a minimal loss of meaning in your communication. The following will suggest a number of barriers to effective communication at work:

The choice of words or language which a sender uses (called 'encoding the message') will influence the quality of communication. In the English language, there are about 500 basic words that are used everyday. These 500 words have over 10,000 different meanings. Because language is a symbolic representation of a phenomenon, room for interpretation and distortion of the meaning exists.

Misreading body language, tone, and other non-verbal forms of communication

Ignoring non-verbal language

Selective hearing

Hesitation to be candid

Distrust

Value judgment

Power struggles

Unreliable transmission (due to noise or inconsistent sending)

Defensiveness (a typical barrier

in a work situation, especially when negative information or criticism is involved)

Distorted perception (How we perceive communication is affected by experiences. Perception is also affected by the organizational relationship two people have. For example, communication from a superior may be perceived differently than from a subordinate or peer.)

Guilt

Distortions from the past

Stereotyping (assuming the other person has certain characteristics based on the group to which they belong without validating that they in fact have these characteristics)

Cultural differences (Effective communication requires deciphering the basic values, motives, aspirations, and assumptions that operate across geographical lines. Given some dramatic differences across cultures, the opportunities for miscommunication in cross-cultural situations are enormous.)

What are the barriers to effective communication you need to overcome? How will you overcome these barriers in order to achieve success? How will you encourage others to be aware of barriers and work to overcome them in order to build and maintain effective communication within your organization? Answering these questions will begin the process of overcoming communication barriers.

Effective communication is an essential component of organizational success whether it is at the interpersonal, intergroup, intragroup, organizational, or external levels.

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melvinfellerstuff · 5 years

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Melvin Feller Discusses Being Right

Melvin Feller Business Group in Burkburnett Ministries and Dallas Texas and Lawton Oklahoma. Our mission is to call and equip a generation of Christian entrepreneurs to do business as ministry. We provide workshops and resources that help companies discover how to do business God’s way. When the heart of a business is service rather than self it can be transformed into a fruitful business ministry earning a profit and being of service to the community and their customers. Melvin Feller is currently pursuing another graduate degree in business organizations.

You are a human and so am I. There is no argument there. The sky is blue and the grass is green. There is no argument there either. After all, they are FACTS, and we are all in agreement with them. However, why do so many of us have a need to ‘right’ regarding OPINIONS? Another driver cutting him off outrages a man driving in LA. In his opinion, the driver who cut him off is unbearably rude. “I’ll show him,” he thinks, as he now tries to cut off the ‘rude’ driver. This incident explodes into a full-blown case of road rage, which leads to an accident and the death of the outraged driver. He might have been ‘right,’ but now he is dead right. Does it make any sense to fight to the death over an opinion? Besides, how could the dead driver be ‘right’ when his behavior was wrong?

An obsessive need to be ‘right’ is irrational, but, sadly, very common. For instance, what makes one believe that our neighbors are incompetent to think for themselves and need to be ‘saved’ by our own brand of religion? In addition, if they refuse to recognize our merciful God, we can always kill them! It is like an anti-abortionist who preaches about the sanctity of life and then murders a doctor who performs abortions. Why do we kill one another for having different opinions?

Some of us get easily upset in the workplace. We insist that others do things the ‘right’ (our) way. Yet, isn’t it more important to do the right thing than do things right? The high divorce rate suggests that married life is another arena for the clash of opinion. Something as trivial as how one’s spouse

s squeezes the tube of toothpaste is enough to cause anger in some people. Quick, answer this question. What is the ‘right’ way to squeeze a tube of toothpaste? From the middle or from the end of the tube? Well, half of those who were surveyed in a university study answered, “From the middle,” and the other half said, “From the end of the tube.” Therefore, no matter which opinion you hold, you were not ‘right’ in the mind of half of those surveyed. Can you see how ludicrous, how irrational, it is to demand that others share our opinions?

There are many reasons to give up our addiction to being ‘right.’ First, consider what we are doing when we make pronouncements that you are either for me or against me, or that it’s my way or the highway, or that I’m ‘right ’ and you’re ‘wrong.’ Aren’t we being arrogant, combative, self-righteous, presumptuous, judgmental, narrow-minded, and alienating? Aren’t such attitudes divisive and dysfunctional? Don’t they disrupt harmony and peace and lead to conflict and suffering?

When I insist that I am ‘right,’ I slam the door of my mind. I remain locked in past beliefs. I stop growing. I have a shallow understanding of the world and limited choice. However, if I change my focus from what IS ‘RIGHT’ to what IS something magical happens. The moment I accept the fact that others have different views and willingly consider them, rather than fight them, I am transformed. Transformed from a prisoner to an adventurer and explorer. By opening myself to all ideas, I open my life to infinite possibilities. In addition, on that day, I discover what it is to be rich.

To be dead right is to be dead. To be cut off from the limitless wealth of life. It is also to be unhappy. For it is impossible to control the thoughts and opinions in the minds of others. So, when they fail to live up to our demand for agreement, we feel frustrated and disappointed. Does it make any sense to follow the road to unhappiness?

If the demand to be ‘right’ is self-defeating, why do we engage in it? One reason is the discomfort of uncertainty. Living in a world of uncertainty makes some feel like the earth is crumbling beneath their feet. There is no stability, nothing to hang on to (except their opinions and beliefs). Yet, when we change our perspective and think of uncertainty as surprise, wonder, awe, growth, opportunity, and delight, we can embrace it. Another reason for tenaciously clinging to our opinions is the fear that changing them would lead to the loss of our identity.

However, we are not our opinions. We are people who hold opinions and can let them go if we choose to. When we learn from others, we do not lose our identity; we expand, enhance, and enrich it. A third reason for wanting to be ‘right’ is low self-esteem. Some need to show off their ‘superiority’ to compensate for their feelings of inferiority. They are afraid of appearing stupid and need the approval of others. Nevertheless, the way to grow superior is by opening one’s mind, not by closing it.

To awaken from the delusion that our opinion is the only ‘right’ one, all one has to do is study history and the evolution of science. For when we do, we will quickly learn that we are fallible creatures. Even the brightest minds changed their opinions on innumerable occasions. In fact, that is how they grew so bright, by integrating opinions that at first appeared diametrically opposed. In addition, by willingly adding the opinions of others to their own. They were not afraid of accepting new ideas and making mistakes.

Here is how Lewis Thomas (1913 ~ 1993) explains it in his book THE MEDUSA AND THE SNAIL, “Mistakes are at the very base of human thought, embedded there, feeding the structure like root nodules. If we were not provided with the knack for being wrong, we could never get anything useful done. We think our way along by choosing between right and wrong alternatives, and the wrong choices have to be made as often as the right ones. We get along in life this way.”

When the populace of a certain village were evenly divided on the ‘right’ way to punish a disobedient child, they decided to seek council with the village elder. The representative for Opinion A gave his view to the elder. As the others listened in silence, the elder spoke, “You are right.”

While maintaining his decorum, but visibly upset, the representative for Opinion B said, “But Wise One, you have given your counsel before hearing from me!” He then shared his opinion with the elder. After listening to it, the Wise One said, “You are right.”

“But, Honorable One,” protested another villager, “you have just agreed with two opposing viewpoints!”

The Wise One turned his way and said, “You are right.”

We can never be right until we realize everyone is right. The truth is owned by none and shared by all. Whether you agree with this or not, “You are right.”

That is the great thing about business. We canal agree and if we do not we start a way to create something for people that require something different!

Melvin Feller Business Consultants and Burkburnett Ministries Group in Texas and Oklahoma. Melvin Feller founded Melvin Feller Business Consultants Group and Burkburnett Ministries in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.

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melvinfeller · 3 years

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Real Estate Guidance and How to Profit in a University Setting

Melvin Feller both an adjunct professor in real estate and real investments and financing located in Texas and Oklahoma invests across the country and now sees this current economy as a great time to be investing in real estate. Melvin Feller has taken a class of college students out to the field to test the theory that anyone can invest smartly and by asking the right questions. This was a test for Melvin Feller and his new upcoming College Class Book on “Today’s Real Estate Techniques – What Works in This New Economy.”

His students did well with 10 out of 14 students having bought or been deeded real estate that these students turned around and made profits on. Melvin Feller called this his first outdoor lab with boots on the ground for university learning!

However, as Melvin Feller suggested, if you are looking to get into real estate investing you will want to do your research and take advice from people who know what they are talking about. Real estate investing, if done properly, can make you wealthy and financially independent, over a period of time. Investing in real estate can be risky at times, due to the current economic situation. This article will give you some great advice if you are wanting or thinking about real estate investing.

Real estate investment has been proven to be less risky than buying stocks. It attracts numerous people from numerous different backgrounds and real estate investing has three main benefits: the tax advantages from deprecation and the equity growth. The best benefit is that is looked at as forced savings account because your renters are paying off the mortgage.

The term depreciation in real estate investing means purchasing with money that came from a mortgage that has the yearly rents less than the interest of the current mortgage and the expenditures paid for the property’s maintenance. These items convey benefits from taxes and the most important thing is the interest of your mortgage that become highly coveted tax deductions on annual basis.

Equity growth is defined as the appreciation earned from the value of your properties. One point to remember and always keep at the forefront of your mind is that is not guaranteed, because you have no guarantees that the value of a property will raise. You always need to know that real estate is micro economically controlled and thus id depend upon that city’s economic policies and safety issues.

When planning your real estate investing you don’t have to start by investing in a place where you live. Just by following due diligence principals on various surrounding areas and getting to know the area like the back of your hand; you can buy an apartment or house that you can then rent out. Furthermore, real estate investing that’s done in a city which you are not going to live actually removes some of the stress and emotion of what and where to buy. The main reason is because you will need to turn the daily management of those properties over to property management company.

If you get into real estate investment as landlord, but you feel that you just do not have the time and/or the skills to manage, you can hire a property manager that will take care of the property management for you. Generally, the fee for their skills are around 10% of the profits, but there are many advantages, you save a lot of time and you will certainly profit from the experience and knowledge property managers have.

One of the most important decisions to make as your preliminary thinking about investing in your local market, I recommended that you try to locate rental property in growing areas that provide everything a tenant is looking for which includes: leisure activities, restaurants, transportation and a sense of belonging to an area that they love.

Another possible risk in real estate investing is the chance that the value of the property you purchased may actually decrease in retail value, and you may feel that will be forced to sell the property quickly, so consider this when buying and try to pick an area where you know and understand that rents are stable. Many areas have price drops and increases. However, we generally never see where rents decrease over this invent. In fact, rents generally have increased and the tenants are still making a profit for you. So rather then sell the property, it is actually a great time to purchase more property.

The last item in regards to purchasing and renting out a property is that before doing the initial purchase that you do an in-depth research regarding the history of tenancy in that specific area. The main reason I suggest this is because if there are too many tenants in a given area your vacancy factor may increase, which translates into longer period of vacancy between tenants.

I have described some of the most basic information you will need if you want to start investing in real estate. Real estate investment is not easy so you should take this advice and do further research with well-seasoned Realtors and Investors if you think that this is the ring thing for you.

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melvinfeller · 4 years

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Melvin Feller MA Illustrates How You Can Buy Any Business During Any Economic Cycle!

According to Melvin Feller Business Group, if you’re thinking about running your own business, especially in buying a company that’s already established may be a lot less work than starting from scratch. Melvin Feller has over 30 years in the commercial real estate field and the buying and selling of businesses. Why not buy a business from someone that does it and teaches it both in person and as an online adjunct professor? However, you will still need to put time and effort into finding the business that’s right for you. This article was written by Founder and CEO Melvin Feller in order to take you through the steps of buying an existing business, including how to assess and value a business, your obligations to any existing staff and where you can get professional help.

Actually, there are advantages and disadvantages of buying an existing business and If you get it right, there can be many good reasons why buying an existing business could be the right move for you. Remember though, that you will be taking on the legacy of the business’ previous owner, and need to be aware of every aspect of the business you’re about to buy.

Advantages:

Melvin Feller Talks Buying a Business.

According to Melvin Feller, it may be easier for you to get finance as the business will have a proven track record. A market for the product or service will have already been demonstrated.

There may be established customers, a reliable income, a reputation to capitalize and build on, and a useful network of contacts.

A business plan and marketing method should already be in place.

Existing employees should have experience you can draw on.

Many of the problems will have been discovered and solved already.

You can always re-sell the business.

Disadvantages:

You often need to invest a large amount up front, and will also have to budget for professional fees for solicitors, surveyors, accountants, etc.

If the business has been neglected you may need to invest quite a bit more on top of the purchase price to give it the best chance of success.

You will need to honor or renegotiate any outstanding contracts the previous owner has in place.

Deciding on the right type of business to buy:

Melvin Feller Recommends Being Your Own Boss.

Ideally your business needs to fit your own skills, lifestyle and aspirations. Before you start looking, think about what you can bring to a business and what you’d like to get back. List what is important to you. It is useful to consider:

Your expectations in terms of earning — what level of profit do you need to be looking for to accommodate your needs?

Your commitment — are you prepared for all the hard work and money that you will need to put into the business to get it to succeed?

Your strengths — what kind of business opportunity will give you the chance to put your skills and experience to good use?

The type of business — limited company, partnership etc. — that you’re interested in buying.

The business sector you’re interested in — learn as much as you can about your chosen industry so you can compare different businesses. It’s important to take the time to talk to people already in similar businesses.

Location — but don’t restrict your search to your local area. Some businesses can be easily relocated.

Where to look for a business to buy:

Many national and local newspapers carry advertisements for businesses and business locations or lots.

Depending on what sector you’re interested in, you could look in trade journals. Or put in your own advertisement, saying what you are looking for. You can get contact details for most newspapers, magazines and trade journals from press directories available on the internet.

Some magazines, many of them with their own websites, specialize in buying and selling property and businesses. Of course, do not forget Realtors who use their publications and websites like loopnet.com, Crexi.com, Showcase.com, as well as Marcusmillichap.com and get familiar with their websites, including Craigslist and eBay.

How to value a business:

Melvin Feller Talks Valuing Your Business.

Understandably, how to value a business is often the most worrying part of buying a new business. Remember, though, that what a business is worth to you will not be the same as it is to someone else with a different set of priorities and objectives.

To get a general idea of how healthy the business is, look at:

the history of the business

its current performance (sales, turnover, profit)

its financial situation (cash flow, debts, expenses, assets)

and why the business is being sold

The following list of questions will help you discover possible areas where you could financially get hurt.

How healthy is the business?

Stock:

How much is there?

What condition is it in?

Assets:

Does the asking price take into account depreciation?

Is anything leased or currently being purchased?

Intangible assets:

How much goodwill comes with the business?

Are any trademarks registered?

Products:

What are the profit margins on each product or service?

Which products or services account for the majority of sales?

Licenses:

Which ones are required to conduct business?

Are there any outstanding issues with the licenses?

Debts:

How old are the debts?

Which debtors owe the most?

Creditors:

What does the business owe?

What is the credit history like?

Suppliers:

What are their prices?

What’s their credit policy?

Employees:

Is the business adequately staffed?

Is it over-staffed?

Do all employees have the necessary skills?

Do all of the employees have the necessary equipment to do their job safely?

Premises:

Do they need refurbishing?

Are they leased or company owned?

Competition

What percentage of the market do the competitors have?

Valuation methods:

Melvin Feller MA Discusses Valuation Methods.

Your accountant can advise on how to put a specific value on the business and do the actual calculations. You can then decide how much you want to offer, or if you want to buy it at all. If you do decide to make an offer, the research you do now will be completely verifiable once you’ve agreed a purchase price and terms with the seller.

Make sure the business is worth buying by doing your due diligence:

Having done your research, it is important to verify the information you now have. A period of time is allowed for you to access the business’ books and records in order to verify that all of the information that you have discovered up to now is accurate, and this is known as due diligence period. It should give you a realistic picture of how the business is performing now and how it is likely to perform in the future.

When to begin due diligence.

Don’t start due diligence until you’ve agreed to a price and terms with the seller. For a down payment they may agree to take the business off the market during your investigation.

The investigation period is negotiable — but most small businesses need at least three to six weeks.

Where to get help

You should get accountants and attorneys to help you identify various risk areas but you can also get information about companies directly from the internet. Remember, due diligence is much more than the finances of a business. You need to come out of this period knowing exactly what you are getting yourself into, what needs to be fixed, what the costs are to fix them and if you are the right person to take over this business.

Key areas to cover are:

employment terms and conditions

outstanding litigation

major contracts and orders

IT systems and other technology

environmental issues

commercial management including customer service, research and development, and marketing

Information sources

Dig as deeply as you can and use whatever documents are available. For instance, if you’re looking at employee records, you could check out:

payroll records

staff files

copy of retirement and profit-sharing plans plus financial statements, if relevant

employment contracts

the staff manual

union contracts, if relevant

you may also need information from external sources such as the landlord, tax office or bank.

A step-by-step process on how to buy a business

Get professional advice

Professional help is invaluable as you go through the negotiation, valuation and purchase process. You may find it useful to contact the professional organizations to get advice and help on finding a lawyer or an accountant.

Research

Research the business sector you’re interested in, including the best time to buy. Shortlist two or three businesses.

Make sure a business is worth buying: conduct due diligence and verify any information you have been given. As well as checks on the business, your attorney will conduct searches in order to verify relevant licenses etc.

If you’re planning to arrange a loan, the lender will insist on carrying out their own survey and valuation at your expense, but you may want to pay for an additional independent survey and valuation.

Initial viewing and valuation

Be discreet — the owner may not want staff to know they are selling, but be thorough and record key findings.

Arrange finance

Lenders generally require:

details of the business/sales particulars

accounts for the last three years

financial projections even if no accounts are available

details of your personal assets and liabilities

Make a formal offer

If you make your initial offer by phone, follow this up in writing. Head your letter subject to contract and include this phrase in all written communication.

Negotiation

Before completing the sale, try to negotiate an overlap period so you have time to become familiar with the business before taking over. Record all the main point agreed.

Completion

Even after you reach an agreement on the price and terms of sale, the deal could still fall through. You have to meet certain conditions of sale to complete, including:

verification of financial statements

transfer of leases

transfer of contracts/licenses

transfer of finance

Looking after existing employees:

There are regulations that govern what happens to employees when someone new takes over a business. These apply to all employees when a business is transferred as a going concern, meaning employees automatically start working for the new owner under the same terms and conditions. For more information, check on your responsibilities to employees if you buy or sell a business.

Inform and consult employees

If you do want to discuss reducing numbers of employees or reorganizing the staff it’s a good idea to do this once you’ve completed the due diligence period, but before you take over the business. As the new employer you should inform and consult all employees — including employee representatives — who may be affected.

Employee Retirement Plans

Melvin Feller Believes that Employees add to the Bottom Line.

As their new employer, you do not have to take over rights and obligations relating to employees’ retirement plans put in place by the previous employer. However, if you don’t provide comparable retirement plan arrangements, you could theoretically face a claim for unfair dismissal.

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melvinfeller · 4 years

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Rural Entrepreneurship in America by Melvin Feller MA

Melvin Feller MA states that the past 12 to 15 years have seen an increasingly wider acceptance of entrepreneurship as a core rural economic development strategy. While very few new organizations have been encouraging enterprise creation as a means of revitalizing rural places for 20 years or more, broader interest in the potential of entrepreneurship in rural communities and regions is relatively new and Melvin Feller MA believes that is due in part to an increase of 65% new businesses EIN Numbers as just reported by IRS and an increase of floods of new people into rural suburbs since Covid 19.

Why the new sharp interest in rural entrepreneurship? Several factors come into my educated guess. Traditional economic activities, which are defined as routine manufacturing, agriculture, and natural resource-based activities, have struggled to remain competitive in the face of increased worldwide competition. As a consequence, the traditional economic development strategies of industrial recruitment and retention and/or expansion have generated fewer favorable conclusions in rural places.

Rural economic developers and the communities they serve are struggling to find new sources of competitive advantage. Many of these development practitioners are willing to think outside the box in the face of old tools and strategies that are simply not working. Such as destination cities. Cities that have exclusive twists on products and services. At the same time, representations of successful entrepreneurship development now exist, so rural entrepreneurship practitioners are not alone on the modernization frontier. A growing body of research describes the outcomes of entrepreneurship development initiatives and tools that can be used to create a new, sustainable economic future for rural places. These must be looked at with the community and stakeholders of various rural areas and regions.

Getting to the heart of entrepreneurship development means that it is about more than building a support system for entrepreneurs; it is a strategy of transformation. It is about creating entrepreneurial communities, about changing the culture of rural places and people so that they embrace the potential of entrepreneurship. It also includes fostering public policy that invests in entrepreneurship development and is embraced by public and civic organizations and leaders. That is generally harder to do than said. But it can be done. For this to truly take place it is usually best to bring in outsiders who have a clear and unimpeded look at the possibilities on a grand scale.

Embracing entrepreneurship requires observing economic development in a new way, one that holds the community accountable for creating development from within. In searching for new sources of competitive advantage, communities and regions must identify and build on their exclusive local assets and take a proactive approach to defining their futures and possibilities. Bottom line is there direct and long-term impact on creating jobs and revenue for their areas.

This approach suggests that there is no better model for entrepreneurship development. In some ways, local communities and regions are analogous to entrepreneurial startup enterprises, discovering and testing the products and approaches to entrepreneurship development that intertwined well within local expectations and results wanted. While there may be a tendency to want to wait until the models have been tested and proven, Karl Stauber, an expert in economic development, argues that: “America is in the middle of a transformation of its rural areas. It does not have time to find perfect or guaranteed solutions. It must take the best ideas where it can find them and begin to adapt and adopt those ideas.”

Drawing on observation and study of entrepreneurship development practices across rural America by the Kellogg Foundation, and the CFED, they developed a framework for economic development practitioners who are trying to adapt the best ideas about entrepreneurship for their various rural cities and towns.

Melvin Feller MA Outlines the Five-Part Rural Development Framework

The first is the part of a strategy of Understanding Entrepreneurial Talent. In other words, entrepreneurship development is a human development strategy even more than a business development strategy. The entrepreneur and their dreams need to be at the center of any strategy.

According to Melvin Feller MA, the first step in creating an entrepreneur-focused strategy is to identify and understand the entrepreneurial capacity in a rural place. Every rural community or region has a range of entrepreneurial talent, from those who have the potential to become entrepreneurs. They include young people, displaced workers, people reentering the workforce, all the way down to existing business owners who aspire to create new business models and expand their reach into new markets, to those high-tech, high-growth entrepreneurs who have the possibility to generate a significant impact on a local economy.

The mix of entrepreneurial talent may include microenterprises generally defined as employing fewer than five people, larger enterprises defined as employing more than 50 employees, people with limited skill sets as well as, entrepreneurs who are creating their third or fourth financial ventures. Melvin Feller MA, also sees one more underreported or even looked at in the mainstay which are special populations such as, youth, artisans, and/or new immigrants whose entrepreneurial aspirations need to be nurtured.

Melvin Feller MA stands firm and remains focused in order to create a strategy focused on the needs of entrepreneurs, communities and regions and that it must develop an understanding and appreciation for the full range of existing and potential entrepreneurs in all solutions to better economic development.

The second strategy is that of Making the Case. This is mandatory aspect because entrepreneurship development is a newer approach to the age-old practice of economic development for most rural regions, local leaders which may require significant conversations in order to embrace this new approach.

In overall, making the case for entrepreneurship requires a two-fold strategy. First, the plethora of national and international research that describes the positive relationship between entrepreneurial activity and economic growth should mandatorily be shared with policy makers and leaders at both the state and local levels.

Part of making the case, is an inclusion for making the case in the stories of local entrepreneurs, who all too often are less visible to local leaders and economic developers. Stories of their struggles and their victories can often help to make the case in a way that data cannot. Rural areas that are successfully implementing entrepreneurship development strategies have found ways to actively engage entrepreneurs as advisors and leaders in this process.

The third strategy is that of Laying the Groundwork for Entrepreneurship Development.

It must be understood that all leaders and advocates of entrepreneurship must lay the groundwork for strategy development. Otherwise, they risk the temptation to reach for the mixed development strategy instead of building a made-to-order strategy appropriate to the region’s unique features.

It needs to be noted that there are three steps to laying this type of economic development groundwork. The first step is determining readiness for entrepreneurship, which includes the Understanding Entrepreneurial Talent and Making the Case elements as described above. It also includes determining whether there are organizations or individuals who already embrace entrepreneurship and can lead the way, and whether or not the capacity exists within the community to undertake entrepreneurship development. In additionally, if they do undertake that development what is that cost?

Once a community has determined that it is ready for entrepreneurship, the next step is to identify the development assets in the area on which the strategy can be built upon. Also, who is already working to support entrepreneurs? What service providers and capital providers exist within the community and the broader area? What youth programs currently exist to encourage entrepreneurship, or that could encourage entrepreneurship? What unique assets exist in the region that could become a source of new competitive advantage, such as, local artists, community colleges, heritage tourism destinations, natural resources, and niche farmers?

And finally, the community needs to understand their own capacity to undertake any type of economic development effort. Entrepreneurship development requires innovative thinking and leadership. Who will become the leaders of entrepreneurship development? How can you actively engage entrepreneurs in leadership and strategy development? What new leaders and capacity can be tapped within the community and even the wider region to support entrepreneurship development?

The fourth strategy is that of Creating a Strategy or Building an Entrepreneurship Development System. However, based on observation of successful entrepreneurship development efforts throughout rural America, a consensus has emerged – an entrepreneurship development system (EDS) is absolutely necessary to transform a rural region. Our thinking about entrepreneurship development systems has evolved over the several years.

This definition has evolved, through the work of the non-profits, government, city and rural economic development practitioners to include a set of guiding principles for the creation of an Economic Development Standard.

A solid Economic Development Standard should be:

• Entrepreneur-focused and asset based as described above.

• Collaborative because leadership for the economic development standard should be drawn from public, private and non-profit sectors and should engage service providers from all those sectors in building a system of support for entrepreneurs.

• Comprehensive and integrated. The system should focus on meeting the full range of entrepreneurial needs such as technical and capital assistance, entrepreneurship education, networking opportunities, as well as on building an environment that supports investment in entrepreneurship development with a community engagement, policy development. Entrepreneurship should be integrated into other aspects of the regional economy such as, workforce development, education, the health care system.

• Linked to policy. This is done by demonstrating the implementation and success of entrepreneurship development in communities and regions, an economic development standard can inform economic development policy at the local and state levels.

• Community-based but regionally focused – A systems approach should be rooted in communities and have the ability to using the resources of the broader region to achieve scale of impact.

• Sustainable over time. This type of entrepreneurship development is a long-term strategy.

Finally, the fifth strategy is that of Measuring Outcomes. Thereby, establishing outcome measures that truly reflect the goals of an Economic Development Standard is a necessary part of the framework. In the early stages of application, these measures will primarily capture the process of building an entrepreneurship development system such as the capacity that is built, the collaborative leadership team that is developed, the cross-learning opportunities that are institutionalized. As implementation continues, the measures will reflect the expected outcomes of the system which include new enterprises created, entrepreneurship education capacity built in the schools, youth engaged in entrepreneurial ventures, and cultural changes that reflect greater support for entrepreneurship.

These outcome measures provide a way to build and maintain momentum for entrepreneurship development, and are critical to informing the policy-making process. In addition, measuring outcomes can support a commitment to continuous improvement. Progress toward achieving these outcomes can be used to fine-tune, redirect, retool and rethink as entrepreneurship development moves forward in a regions and rural areas in general.

Entrepreneurship is not a new concept in America. In some ways, the recent excitement and embrace of entrepreneurship reflects the old adage that “what is old is new again. Entrepreneurial aspirations guided the opening of the Western frontier and the cyber frontier. Communities across the country are rediscovering their entrepreneurial roots as they seek new ways to generate economic growth from within.

The results of these innovative models will provide continued guidance to economic development practitioners and community leaders as they embrace entrepreneurship as a way to transform the economic futures of rural regions, cities and towns across this country country.

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