The Millionaire Mind Support Network™

Many of the Millionaire Mind Intensive graduates are exploring either starting a new business or expanding their existing enterprise.

Researching your business plan or developing a detailed market study targeting the perfect niche for your enterprise has gotten easier.

Need estimated gross sales figures for your business category to test your economic model?
Do you where to find the average profit ratios for your types business?

You can access the data resources you need for little or no fee at either the U.S. Department of Commerce’s Census Bureau or the U.S. Department of Labor.

These agencies offer you all facts, figures and practical information you need to help plan and run your business.

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!

“Oh, you are so lucky. I wish I could work at home.”

That is the usual response when someone learns that I’m a home-based researcher and writer. In addition to the entrepreneurial mindset needed to leave the comforting embrace of a day job, it takes a specific set of skills to successfully work at home.

Your productivity will depend on focused, self-interest.

It is also helpful to be just a wee-bit rude. When you first start working from home, you might find you have friends who will call to just chat or to for ask favors that start out with, “Hey, since you are at home now…”

The best approach to friendly encroachment is to post your hours.

Let fiends and family know via email that your productive work hours are from X to X and that you not be taking calls during that period.

Whoever invented caller ID should be sainted.

Another good practice is to limit reading and answering your email to a specific time during the day. Your email in-box can be a time-sink that sucks your creative energy and steals your productivity. I’m a morning dove and my most productive writing and thinking time is from about 8 am until about 2 pm. I use my low-energy mid to late afternoon time to read email, return calls, and deal with IRL meetings.

Information overload is a constant danger, especially with eZines, online newsletter subscriptions, and industry blogs. I’ve killed my RSS feeds. It is way to easy to be intrigued by an interesting headline and look up two hours latter and wonder why my current writing assignment isn’t done. I have my email client set up to load emails directly into predetermined files. I often print out my eZine or newsletters, throw them in a file that I take with me whenever I know I might be in a situation that requires a wait. I use the down time to catch up on my reading off line.

How do you lay out your daily and weekly business goals?

Getting focused and staying focused on our specific business goals is the holy grail of the successful at-home entrepreneur. Do you know what you need to accomplish today, in order to reach your specified business goals for this week?

Do you need to access outside resources to help you reach your goals. If so, have you laid out a project schedule so you will know when to contact the vendors you need to support you in reaching your business goals?

A home-based entrepreneur needs to keep focused. As you go through your workday, or work night as the case may be, get in the habit of asking yourself, “How is what I’m doing right now, moving my business and my dreams forward?”

If the answer is that it doesn’t, THEN STOP! Don’t do that.

Your daily actions must be in alignment with your daily and weekly goals, or you may never fully manifest your long-term BIG DREAM.

Set specific, realistic, measurable goals that will ultimately lead you to fulfilling the intention and purpose you set for your business enterprise.

Remember to devote some time daily to the inner-game of business success. Take the time to visualize your personal end game. Feel the fulfillment and satisfaction of attaining your goal — of fulfilling your purpose. Staying in touch with that feeling of completion and gratitude helps keep you focused on you target, even when a dear friend calls and wants you to come out to play.

Work each day in joy and with the end in mind.

I can personally recommend two inspirational books that share specific tools and process to keep business professionals on track to reach their personal and business goals.
The Success Principles: How to Get from Where You Are to Where You Want to Be

by Jack Canfield & Janet Switzer
The Power of Focus: How to Hit Your Business, Personal and Financial Targets with Absolute Certainty

by Jack Canfield, Mark Victor Hansen, Les Hewitt.

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!

My family and friends often tease me about my tendency to “Follow the Rules.” I read ALL the instructions before I start something. As a product of the Catholic schooling system, rules, processes and procedures are a big deal in my little orderly world. Of course I fell in love, married and founded a business with Zen Buddhist, but that is another story.

The effective use of time, treasure and talent, is the hallmark of a good steward and a successful business owner. Developing a game plan (rules) for your workday gives you access to power business tools.

As a print production manager, effective time management and prioritization of daily tasks was my way of life for over 20-years. I bought my first copy of Stephen Covey’s “The Seven Habits of Highly Effective People” in 1989. Since then I’ve purchased dozens of copies since as gifts for friends, or required reading for employees and contractors.

In addition to the habits of successful people, the book shares the importance of a principle centered life. Millionaire Mind Intensive graduates will notice that T. Harv Eker expresses some of the same principles when he talks about the importance of living and working in integrity.

I highly recommend that you make “The Seven Habits of Highly Effective People” a part of your business library. It is available in print and CD.

Until you have a chance to pick up a copy here is the extreme “Cliff Notes Version”

Print and post these seven habits somewhere on your desk where you can read them often through your workday.

“The Seven Habits of Highly Effective People”

1. Be PROACTIVE
2. Begin with the END IN MIND
3. Put FIRST THINGS FIRST
4. Think WIN/WIN
5. Seek first to UNDERSTAND then to be UNDERSTOOD
6. SYNERGIZE
7. Sharpen the Saw (Balance and Self Renewal)

“The Seven Habits of Highly Effective People” helps entrepreneurs prioritize, focus and follow through. Please share the winning tactics that keeps you focused and productive.

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!

Discovering Your Product’s Benefits

To identify your product’s benefits, you must consider your customers’ needs. Imagine yourself in your customers’ shoes, talk to them directly, or conduct surveys asking about their needs and perceptions. If possible, hire an independent firm to conduct a focus group with a sample group of customers to test your product for usability and desirability. If that is not possible go online to pursue D-Y-I customer research. Find your customers in chat rooms or forums and listen to what they are saying. Don’t let your preconceptions color your information gather processes.

Practice your active listening skills. Give your full attention to what your potential clients are saying. Successful marketers take the time to understand the points being made, and only ask questions as appropriate. If you want to learn, you must practice listening intently and do not interrupt the flow of customer given information.

Examine customers who have purchased your product in the past. What do their customer profiles tell you about your product’s benefits?

Once you have a basic sense of your product’s benefits, you can set up systems to develop and track their evolution:

• Ask customers for suggestions for improvement.
• Pay careful attention to customer complaints and prospect inquiries. Train and reward employees for questioning customers and prospects to learn what they like and don’t like about your product.
• Watch your competitors. Do the changes in their product offerings suggest product benefits you hadn’t yet considered?

Continuous product and process improvement begins with your passion for excellence and your commitment to deliver value to your customers.

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!

Notes and thoughts concerning T. Harv Eker’s Speed Wealth™

“How to Make a Million In Your Business In 3-years or Less”

Power Principle # 5

You can always be more, have more and do more —

because you can always learn more.

T. Harv Eker states that rapid change equals great opportunities for fast return ONLY if we have educated ourselves so we have the skill set to take immediate action.

There are three MUST READS for all folks interested in aggressively growing their business enterprises. All are available at not only online and brick & mortar book stores, but within the public library system in both printed and audio versions so this is a NO EXCUSES business development suggestion.

If you don’t think you have time to read, then get the audio books, and LISTEN while you are driving, while you have your meals — anytime you have a few unallocated minutes please devote them to expanding your business expertise. Millionaire Minds place a higher priority on building true financial freedom than knowing who is singing on American Idol.

Good to Great: Why Some Companies Make the Leap and Others Don’t
by Jim Collins

In Good to Great, Jim Collins asks the question, “Can a good company become a great company and if so, how?” Collins concludes that it is possible, but finds there are no silver bullets. Collins and his team of researchers began their quest by sorting through a list of 1,435 companies, looking for those that made substantial improvements in their performance over time, and discovered common traits that challenged many of the conventional notions of corporate success. At the heart of those rare and truly great companies was a corporate culture that rigorously found and promoted disciplined people to think and act in a disciplined manner. The book offers a well-reasoned road map to excellence that any organization would do well to consider. Good to Great is one of those books that managers and CEOs will be reading and rereading for years to come. –Harry C. Edwards, Amazon.com Editorial Review

Built to Last: Successful Habits of Visionary Companies
by Jim Collins and Jerry I. Porras

Built to Last identifies 18 “visionary” companies and sets out to determine what’s special about them. The book has been hailed as an instant classic and one of the best business titles since In Search of Excellence. The authors, James C. Collins and Jerry I. Porras, spent six years in research, and they freely admit that their own preconceptions about business success were devastated by their actual findings — along with the preconceptions of virtually everyone else. The core myth, according to the authors, is that visionary companies must start with a great product and be pushed into the future by charismatic leaders. Collins and Porras are much more impressed with something else theses companies shared: an almost cult-like devotion to a “core ideology” or identity, and active indoctrination of employees into “ideologically commitment” to the company. An eloquent chapter on the wildly successful 3M describes the company as having no master plan, little structure, and no prima donnas. Instead it had an atmosphere in which bright people were both keen to see the company succeed and unafraid to “try a lot of stuff and keep what works.”
—Editorial Reviews —Amazon.com

Winning
by Jack Welch (Author), Suzy Welch (Author)

As the legendary retired CEO of General Electric, Welch has won many friends and admirers in high places.
In Winning, Welch focuses on his actual management techniques. He starts with an overview of cultural values such as candor, differentiation among employees, and inclusion of all voices in decision-making. In the second section he covers issues around one’s own company or organization: the importance of hiring, firing, the people management in between, and a few other juicy topics like crisis management. From there, Welch moves into a discussion of competition, and the external factors that can influence a company’s success: strategy, budgeting, and mergers and acquisitions.

Winning is a very worthwhile addition to any management bookshelf. It’s not often that a CEO described as the century’s best retires, and then chooses to expound on such a wide range of management topics. –Peter Han Editorial Reviews — Amazon.com

I have all three of these books in both hard cover and as audio books. I feel so strongly about their value to any businessperson, I have given them as gifts to friends and business associates. No matter where you are in your business life right now, working as an employee, self employed with an at-home-business, building an emerging business enterprise, or growing the next Inc.500 business — there is something you can learn, do or change about how you are currently approaching your day.

Read. Grow. Do. Win!

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!

Copyrights, Patents, and Trademarks —

Protecting Your Ideas or Inventions From Others’ Infringement

Name, Name, Who Has The Name

I am worried about using a name for my business that someone else may already be using. How would I go about researching a name I want to use for my new business?

There are a number of sources that you can use to research an existing business name. The following is a list of some of the most common places to begin your search:

• Start with your county to see if the name has been registered as a DBA.
• Check with your state to see if the name has been taken by an existing corporation or limited liability company.
• Perform an Internet search of the name you are interested in; use various search engines.
• Conduct a free trademark search at http://www.nameprotect.com/

The online resources available today help make the naming process for a new business enterprise or product so much easier than the “bad ol’ days. A business owner / inventory can do research in a few minutes that would have required weeks and a sizable investment only a decade ago.

God Bless Google and all of their friends!

Just a reminder — I’m not a lawyer, I don’t even play one on TV and I did not stay at a Holiday In Express last night. I’m just a retired SBDC counselor, who knows where to look stuff up — both online and IRL. In this case my source is the SBA.

Sources: SBA Publications

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!

Copyrights, Patents, and Trademarks —

Protecting Your Ideas or Inventions from Others’ Infringement

Inventions

Support for and protection of inventors is a big topic and one we will spend more time on in future blog entries. Based on the questions and comments I’ve received off-line, the Millionaire Mind Support Network™ members are a busy and creative lot. With our site still in beta, I know it is easier to just call me, I know we all look forward to having the network’s questions and comments posted directly to our Millionaire Mind Support Network™ Forum. Until all the posting bugs are banished, please feel free to call with questions or comments.

Can you give me some information on companies that can help with my invention?

The U.S. Patent and Trademark Office site offers information and resource information. However they have an inventors forum that can be a great help to beginner inventors with their first product as well as a venue for successful inventors to share knowledge and enjoy hanging with like minded folks.

In the inventor support Chat Room you will find private and public research and development companies that help inventors develop, patent, and promote their ideas so they can be commercially licensed or sold. While many of these organizations are legitimate, some are not. Here are seven tips to help you make smart invention development decisions:

• Learn About the Patent Process. When you understand the basics of how to get a patent, you will know when invention marketers are making promises they or the patent system can’t deliver.
• Do Your Homework. Check the organization’s references, ask for credentials, and then check them.
• Be Realistic. Not every invention is patentable. Be wary of any developer willing to promote virtually any invention.
• Know Where Your Money Is Going. Ask the organization how your money will be spent. Be on guard against large upfront fees.
• Protect Your Rights. DO NOT disclose your invention to a developer over the phone before first signing a confidentiality agreement. You could forfeit valuable patent rights.
• Track Your Invention’s Progress. Once you decide to use an invention-development organization, deal directly with the agent or patent attorney who will be handling your patent application.
• Don’t Get Discouraged! The patent process can be very complicated, so you will probably need professional help. There are many good patent agents and attorneys that can help you. The U.S. Patent and Trademark Office maintains a nationwide register of attorneys and agents who meet our legal, scientific, and technical requirements.

Do I need a patent attorney or agent to file my patent application?

The U.S. Patent and Trademark Office (USPTO) strongly recommends that all prospective applicants retain the services of a registered patent attorney or patent agent to prepare and prosecute their applications. For information on registered patent attorneys and agents in your area, you may visit the USPTO’s Office of Enrollment and Discipline Web site

Upon request, the USPTO will send information that provides a broad overview of the process of obtaining a United States patent. They will include general requirements and a listing of the Patent and Trademark Depository Libraries.

Just a reminder — I’m not a lawyer, I don’t even play one on TV and I did not stay at a Holiday In Express last night. I’m just a retired SBDC counselor, who knows where to look stuff up — both online and IRL. In this case my source is the SBA.

Source:SBA Publications

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!

Copyrights, Patents, and Trademarks —

Protecting Your Ideas or Inventions from Others’ Infringement

What exactly is Intellectual Property?

Intellectual property is an umbrella term for various legal entitlements which attach to certain names, written and recorded media, and inventions. The holders of these legal entitlements may exercise various exclusive rights in relation to the subject matter of the Intellectual property. The term intellectual property reflects the idea that this subject matter is the product of the mind or the intellect. The term implies that intellectual works are analogous to physical property and is consequently a matter of some controversy. (Source: Wikipedia, the free encyclopedia)

What is a patent and how do I know if my invention is eligible for a patent?

A patent for an invention is the grant of a property right to the inventor issued by the U.S. Patent and Trademark Office. Patent holders have the right to exclude others from making, using, or selling the invention described in the patent deed. The intent of patents is to give the developer of a new product time to recover development expenditures and startup costs without having to fight competition. Eligibility Patents cannot be obtained for inventions that have been publicly disclosed, are in use, or marketed in the United States for one year prior to the filing of the patent application. Secondly, a thorough patent search, preferably done by a professional, must be conducted to make certain that the applicant’s idea hasn’t already been patented.

What is a provisional patent?

Provisional applications are like temporary placeholders; they allow inventors to file inexpensively without a formal patent claim, oath, or declaration. Once the application is filed, the applicant has one year to investigate the feasibility, marketability, patentability, and potential license interest of the invention before deciding to file a formal patent application. Meanwhile, the term patent pending can be applied to the invention, and the inventor enjoys a calendar edge on other inventors who may file for the same invention.

What exactly does copyright protect?

Copyright, a form of intellectual property law, protects original works of authorship, including literary, dramatic, musical, and artistic works such as poetry, novels, movies, songs, computer software, and architecture. Copyright does not protect facts, ideas, systems, or methods of operation, although it may protect the way these things are expressed. For more information refer go to the U.S. Copyright Office.

Just a reminder — I’m not a lawyer, I don’t even play one on TV and I did not stay at a Holiday In Express last night. I’m just a retired SBDC counselor, who knows where to look stuff up — both online and IRL. In this case my source is the SBA.

Sources: SBA Publications

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!

Copyrights, Patents, and Trademarks —

Protecting Your Ideas or Inventions from Others’ Infringement

Is the name of a band a trademark?

Yes, band names would be considered trademarks, or more appropriately service marks, for entertainment services in the nature of performances by a [type of music specified] band.

Can a minor file a trademark application?

This depends upon state law. If the person can validly enter into binding legal obligations in the state, then that person may sign a trademark application. Otherwise, a parent or legal guardian must sign the application, clearly setting forth their status as a parent or legal guardian of the applicant.

Can the ownership of a trademark be assigned or transferred from one person to another?

Yes. A registered mark, or a mark for which an application to register has been filed is assignable. Written assignments may be recorded in the U.S. Patent and Trademark Office for a fee. Specific inquiries should be referred to the Assignment Division at 703-308-9723.

How do I file a trademark and/or contact Patent and Trademark Office (PTO)?

When filing papers of any kind with the PTO, include a stamped, self-addressed postcard listing the mark, the serial number or registration number (if known), and the contents of the filing, such as the drawing page, 3 specimens, a check for the fee, etc.

• Carefully review all documents before filing to make sure all issues have been addressed and all the necessary elements are included.
• Do not file large or bulky specimens. They not only take up a lot of space in the PTO, but must be maintained apart from the rest of the file and tend to get lost. Rather, submit a picture of the mark on the specimen. Bulky specimens are specimens that are larger than 8 1/2″ by 11″ and which do not lie flat. The PTO encourages applicants to send photographs of the goods, as long as the mark is clear from the photograph.
• Place the serial number or registration number (once known) on each paper or exhibit filed, including any required checks. If, for some reason neither number is available, please put some other identifying information on the correspondence (e.g., mark, name of applicant, filing date).
• Inform the PTO of any change in correspondence address as soon as possible.
• Use the status line (703-305-8747) to check on the status of any application.

Just a reminder — I’m not a lawyer, I don’t even play one on TV and I did not stay at a Holiday In Express last night. I’m just a retired SBDC counselor, who knows where to look stuff up — both online and IRL. In this case my source is the SBA.

Source: SBA Publications

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!

Copyrights, Patents, and Trademarks —

Protecting your Ideas or Inventions from Others’ Infringement

How long does a trademark registration last?

For a trademark registration to remain valid, an Affidavit of Use (”Section 8 Affidavit”) must be filed between the fifth and sixth year following registration. Assuming that an affidavit of use is timely filed, registrations granted PRIOR to November 16, 1989 have a 20-year term, and registrations granted on or after November 16, 1989 have a 10-year term. This is also true for the renewal periods; renewals granted PRIOR to November 16, 1989 have a 20-year term, and renewals granted on or after November 16, 1989 have a 10-year term.

What is the fee for filing a trademark application?

Effective January 31, 2005, trademark fees are as follows:
Initial Application
$325 per international class if using the Trademark Electronic Application System (TEAS)

Is there a lower filing fee for small businesses?

No. The filing fee is $325 per class.

What is the Trademark Electronic Application System (TEAS)?

The Trademark Electronic Application System (TEAS) is the name given to a project of the Patent and Trademark Office (PTO) Trademark Operation, whereby the PTO will be accepting applications for U.S. trademark registrations online in the future. To view a preliminary version of TEAS, click on http://www.uspto.gov/main/trademarks.htm — PrinTEAS. This site was established to explore the potential of accepting customers’ documents electronically. The Office is presently studying the various possibilities for handling signatures, encryption, and other security concerns, payment options, and other related issues in order to produce the most stable, secure, and user-friendly system possible.

How do I contest someone else using a trademark similar to mine?

There are several ways to dispute use of your trademark by a third party. Depending on the factual situation, the Trademark Office may or may not be the proper forum. You should consider contacting an attorney, preferably one specializing in trademark law. Local bar associations and the yellow pages usually have attorney listings broken down by specialties. Time can be of the essence.

What is a PTDL (Patent and Trademark Depository Library)?

A Patent and Trademark Depository Library (PTDL) is a library which is designated by the US Patent and Trademark Office (PTO) to receive and house copies of US patents and patent and trademark materials, to make them available to the public and to disseminate both patent and trademark information.

To be designated, a library must meet specific requirements and promise to fulfill certain obligations. Patents and trademarks (word marks only) may be searched at the PTDLs. Please note that the Patent and Trademark Depository Librarians cannot give any legal advice nor can they perform the searches for you. They will, however, provide you with the information you need to get started.

Just a reminder — I’m not a lawyer, I don’t even play one on TV and I did not stay at a Holiday In Express last night. I’m just a retired SBDC counselor, who knows where to look stuff up — both online and IRL. In this case my source is the SBA.

Source:SBA Publications

Copyright © Millionaire Minds, LLC 2007
All writings here are copyrighted. You may not use them without written permission but you may link to the posts or give out a link to the posts. And remember, You Have a Millionaire Mind!